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Facebook May Be Building a Bitcoin Competitor (Report)

Facebook is looking into developing its own cryptocurrency similar to Bitcoin, according to a new Cheddar report. The company’s blockchain team, which is being led by former Paypal executive David Marcus, may use the currency to power payments for Facebook’s 2-plus billion members. Asked about the report, Facebook told Variety that it had a small team working on “exploring ways […]

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GameStop CEO Michael Mauler Abruptly Resigns After Three Months

Michael Mauler is out as CEO of GameStop after just three months on the job, the video game retailer announced Friday. Mauler resigned for “personal reasons” effective immediately, GameStop said in a press release. “His resignation is not due to any disagreement with the Company regarding its financial reporting, policies or practices or any potential fraud relating thereto,” a spokesperson […]

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EA Still Believes in Loot Boxes, Will ‘Push Forward’ With Their Use

Despite the decision by some regulatory authorities around the world that “loot boxes” are an illegal form of gambling, Electronic Arts remains committed to the practice, EA CEO Andrew Wilson said during an earnings call this week. “As you might imagine, we’re working with all the industry associations globally and with regulators in various jurisdictions and territories, many of whom […]

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‘Deadpool 2’ Tops Studios’ TV Ad Spending Again

In this week’s edition of the Variety Movie Commercial Tracker, powered by the TV advertising attention analytics company iSpot.tv, Twentieth Century Fox claims the top spot in spending with “Deadpool 2.” (It previously topped our April 23 chart.) Ads placed for the superhero sequel had an estimated media value of $4.55 million through Sunday for 765 national ad airings on […]

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Warner Music Group Posts Solid Second-Quarter Earnings

Warner Music Group posted strong fiscal second-quarter financial results this morning, with total revenue up 16.7% (10.4% in constant currency) and digital revenue up 24.6% (19.7% in constant currency). Digital revenue represented 56.8% of total revenue, compared to 53.2% in the prior-year quarter. “We’re having another excellent year with strong momentum around the world in both Recorded Music and Music […]

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