Apple to spend £1bn on original content

Apple preps $1bn war chest, adds Cherniss

Apple Reportedly Allocates $1 Billion to Original Video Content

In charge of spending the newly allocated funds will be Jamie Erlicht and Zack Van Amburg, who Apple hired from Sony's entertainment arm. Others have a lot of questions about how Apple will distribute its shows.

Apple's initial rounds of content have not been runaway successes, with Planet of the Apps and Carpool Karaoke receiving bad-to-mild reviews from critics.

It's unclear if Apple is planning to launch an entirely new service to replace its somewhat outdated buy-'em-individually iTunes Store or if it will become a part of Apple Music, which is now testing the waters with an exclusive season of James Corden's Carpool Karaoke.

Giancarlo Stanton sets Miami Marlins franchise mark with 43rd homer
Kendall Graveman (3-3) matched his career high of eight strikeouts, allowing two runs and eight hits in seven innings. The right-handed Straily gave up three runs in five innings, which was about in line with his previous three starts.

Apple has tiptoed into original content in recent months with mixed results. The two producers joined Apple from Sony in June.

The meetings were first reported by The Wall Street Journal on Wednesday. If all goes well, this cash will be spent on 10 shows, though it's not yet clear what type of shows the Cupertino giant is looking to bring to the table. It also has a Dr. Dre drama series. Now, there's word about exactly how much Apple is willing to invest in that effort.

Apple has been very busy hiring the necessary behind-the-scenes team to rival the likes of Netflix, Amazon and the long-established television networks. One of the reasons Netflix is so successful today is because the streaming giant's original programming caters to a wide audience.

Let the NAFTA renegotiations begin
The administration has not publicly identified a specific percentage of minimum domestic content that it would like to see. In the past 23 years of NAFTA's existence, trade among Mexico, the US and Canada has tripled, according to the BBC.

Apple is preparing a US$1bn programming war chest and has appointed the former president and general manager of WGN America and Tribune Studios as it further expands its fledgling video division. The new recruits would play a major role the company's attempts to produce original content.

Trading at a multiple of 18 times earnings, it is nowhere near Amazon's multiple of over 247, Netflix's multiple of 206, and even Alphabet's stock that trades at nearly 34 times its earnings.

European Union urges Kenyan election commission to post all results online
Odinga was left disappointed by his loss to Uhuru Kenyatta in the country's recent elections, which he said were rigged . Odinga's claim that a hacker somehow changed the result electronically can be authoritatively checked.

Latest News