Costco Wholesale had preliminary discussions within the past few months regarding a video streaming service as a perk for its "executive" customers, according to The Information.
The big picture: Costco is yet another mass market retailer feeling pressured to monetize a media streaming service for its customers. Axios has reported that the idea of attention-based advertising has encapsulated grocers and retailers like Walmart, Kroger, Albertsons, Target, as a way steal advertising dollars or consumer attention away from traditional media companies.
Investors are talking about reviving the bankrupt Toys "R" Us, but its multibillion-dollar business is meanwhile being picked over by the big three — Amazon, Walmart and Target.
What's going on: Target and Walmart are adding floor space to accommodate more toys this holiday season, reports WSJ. And they are in a pitched toys battle with Amazon online, according to a new report from Gartner L2.
Tribune Media sold a 48-acre parcel to Hartz Mountain Industries for $54.5 million — 32 acres of it housed the former office and printing operations for Newsday.
The details: When Hartz emerged to be the likely winner of the bid, the developer said it plans to demolish the more than 413,500-square-foot facility and build “state-of-the-art” warehouse and distribution space in its place, according to Newsday.
Our.News, a nonpartisan online platform, is partnering with the Newseum and the Freedom Forum Institute to launch "Newstrition," a tool that aims to allow users to discern between real and "fake" news.
The big picture: Newstrition will face competition from dozens of other similar tools meant to reinstate trust in the media. Most similar is NewsGuard, which offers "Nutrition Label" write-ups on websites to discern "which ones are trying to do legitimate journalism — and which are not," its website explains. Axios' Sara Fischer reported that while the goal for these tools are "valiant ... the field is so crowded right now it’s hard to see who is making progress."
The International Monetary Fund's projection for global economic growth in 2018–19 has been revised down to 3.7% from the 3.9% forecast in April.
The big picture: Ten years after the financial crisis, the global economy is continuing to recover at a robust pace. Since April, however, new risks like the tightening of U.S. monetary policy, heightened trade tensions and emerging market meltdowns have prompted the IMF to temper its growth projections for a number of major economies, including the U.S., China, the U.K. and the euro area. The Organization for Economic Cooperation and Development's latest report similarly downgraded its global growth estimate from 3.8% to 3.7%.
With the limitless selection and convenience that e-commerce offers consumers, online retailers are selling more and more goods. But they are also taking a lot back.
What's going on: Some of the biggest e-commerce businesses report staggering sales numbers — but huge pieces of that revenue often get erased in refunds to customers and shipping costs for returns.
President Trump spoke Monday on the disappearance of Saudi journalist Jamal Khashoggi, who Turkish authorities believe was murdered inside the Saudi consulate in Istanbul.
"I am concerned about it. I don’t like hearing about it. Hopefully that will sort itself out. Right now nobody knows anything about it, but there’s some pretty bad stories going around. I do not like it."'
Why it matters: Khashoggi is a Washington Post opinion columnist who had in recent months become critical of Saudi Crown Prince Mohammad Bin Salman, a noted ally of the Trump administration, who is known for jailing dissidents and political opponents.
Former White House communications director Hope Hicks will join New Fox, the company left after 21st Century Fox sells its assets to Disney next year, as its chief communications officer and executive vice president, according to Variety.
Why it matters, via Axios' Sara Fischer:This is one of the bigger, more noteworthy gigs that a former Trump aide has landed thus far, and it shows the close relationship between the Murdochs and the Trump White House. Hicks, while a very savvy 29-year-old White House vet, is not very experienced in the complex world of global broadcasting, but she’s an important asset to New Fox, which will inevitably face political and regulatory battles in its efforts to expand its new network.
