巴西最高法院形成多数意见，要求社交媒体公司对其平台上的第三方内容负责。 ...

2025.06. 11 迪士尼将在其 "归属于非控股权益的净收入" 中记录这笔4.387亿美元的付款，这一操作将直接减少 其第三财季利润表中 "归属于迪士尼的净收入"。 不过，迪士尼也明确表示， 预计这不会影响公司 此前对2025财年调整后收益的指引。 美国当地时间5月7日晚间，华特迪士尼公司公布2025财年第二季度财报。财报显示，迪士尼在 2025财年第二季度实现收入236亿美元，同比增长7%，调整后每股收益1.45美元，均超预期。 核心业务表现亮眼：Disney+和Hulu订阅用户数增至1.78亿，推动流媒体业务收入增长；尽管美国 本土业务受飓风影响，主题公园国际业务收入同比上涨28%；ESPN广告收入同比增长15%，助力 体育业务表现稳健。同时，公司预计全财年调整后每股收益为5.75美元，高于市场预期的5.44美 元，显示其业务表现强劲及未来增长信心。 爱企查App显示，迪士尼中国关联公司华特迪士尼（中国）有限公司成立于2004年12月，法定代表 人为MING ZHANG，注册资本1000万美元，经营范围包括影视作品、舞台剧策划及咨询、文学艺 术创作、音乐创作等。股东信息显示，该公司由DISNEY EN ...

Core Viewpoint - The acquisition of Ximalaya by Tencent Music for approximately $28.4 billion marks a significant shift in the long audio industry, with both companies seeking to fulfill their strategic needs through this transaction [1][6][9]. Group 1: Acquisition Details - Tencent Music announced a deal to acquire Ximalaya for $12.6 billion in cash and up to 5.1986% of its Class A common stock, along with additional stock for Ximalaya's founding shareholders [1]. - The total transaction cost is estimated at around $28.4 billion, which includes the value of the stock and cash [1][2]. - The acquisition price represents a significant decrease compared to Ximalaya's previous valuations, which were as high as $50 billion [7][8]. Group 2: Ximalaya's Challenges - Ximalaya has faced multiple challenges in its attempts to go public, including failed IPO attempts and continuous financial losses, with net losses reported from 2018 to 2021 [3][4]. - The company managed to achieve profitability in 2023 primarily through cost-cutting measures rather than revenue growth, leading to a significant decline in revenue growth rate from 43.7% to 1.7% [4][5]. - Ximalaya's revenue model has been heavily reliant on subscriptions, which accounted for 51.1% of total revenue in 2021, but it has struggled to diversify its monetization strategies [15][16]. Group 3: Tencent Music's Position - Tencent Music has shown strong performance in the capital market, with a gross margin increase from 40.9% to 44.1% year-on-year [5]. - The acquisition of Ximalaya is seen as a strategic move to enhance Tencent Music's content ecosystem and address competitive pressures from ByteDance and other players in the audio market [6][9]. - Tencent Music's cash reserves, amounting to $5.19 billion, will be impacted by this acquisition, although the mixed payment method aims to mitigate immediate cash flow concerns [8][9]. Group 4: Strategic Implications - The merger of the largest music streaming platform and the largest online audio platform in China is expected to attract regulatory scrutiny due to potential market dominance [11][13]. - Ximalaya's extensive user base of approximately 300 million MAU and its rich content library present significant strategic value for Tencent Music, potentially enhancing user engagement and monetization opportunities [10][9]. - The integration process will require careful management to maintain Ximalaya's brand and operational independence while leveraging Tencent's resources for growth [11][12].

Core Viewpoint - Tencent Music has announced a plan to fully acquire China's largest online audio platform, Ximalaya, for a total cash consideration of $1.26 billion, alongside stock options, bringing the total deal value to approximately $2.86 billion, equivalent to about 20.5 billion RMB [2][4]. Group 1: Acquisition Details - The acquisition agreement includes a cash payment of $1.26 billion and the issuance of Tencent Music's Class A ordinary shares, amounting to a stake of approximately 5.5686% in Tencent Music for Ximalaya's shareholders [2][3]. - The total consideration for the transaction is approximately $2.86 billion, which translates to around 20.5 billion RMB [4]. - The deal is subject to regulatory approvals and other closing conditions [2]. Group 2: Strategic Implications - Tencent Music aims to strengthen its position in the audio economy by acquiring Ximalaya, which will help build a competitive moat against rivals like ByteDance [7]. - The acquisition allows Tencent Music to enhance its long audio content strategy, as it has been relatively weak in this area, while Ximalaya is the largest online audio platform in China with a rich content ecosystem [7][10]. - Ximalaya holds a 25% market share in China's online audio industry, significantly higher than its closest competitor at 13% [8]. Group 3: Financial Performance and Challenges - Ximalaya has faced challenges in its IPO attempts, with failed listings in both the US and Hong Kong, leading to a decline in its valuation from $4.3 billion in 2021 to under $3 billion in this deal [11][12]. - The company's revenue growth has stagnated, with revenues increasing from 5.857 billion RMB in 2021 to 6.163 billion RMB in 2023, reflecting a slowdown in growth rate from approximately 3.5% to 1.7% [11]. - Ximalaya's adjusted net profit improved to 224 million RMB in 2023 after losses in previous years, attributed to cost-cutting measures and operational efficiency [11]. Group 4: Market Dynamics - The online audio market is highly competitive, with platforms like NetEase Cloud Music and short video platforms posing significant challenges to Tencent Music [6][9]. - The user overlap between Ximalaya and Tencent Music is relatively low, which may provide opportunities for cross-promotion and user base expansion post-acquisition [11]. - The integration of Ximalaya into Tencent Music's ecosystem is expected to create synergies and enhance the overall content offering, potentially leading to a stronger competitive position against rivals [9][12].

Core Viewpoint - Disney has agreed to pay approximately $438.7 million to acquire the remaining shares of Hulu from Comcast's NBCUniversal, which will give Disney full control over the streaming platform [1] Group 1: Acquisition Details - The transaction is expected to be completed by July 24, 2023, after which Disney will fully control Hulu [1] - In 2023, Disney announced the acquisition of Comcast's 33% stake in Hulu for $8.6 billion, with Hulu's guaranteed minimum value set at $27.5 billion [1] - A valuation dispute arose during the assessment process, with Disney's appraiser providing a lower valuation than the minimum value, while Comcast's appraiser estimated a value significantly above the minimum [1] Group 2: Financial Impact - The payment for the acquisition will be recorded under "net income attributable to non-controlling interests," which will reduce Disney's net income for the third fiscal quarter but is not expected to affect the adjusted earnings guidance for fiscal year 2025 [1] - As of March 29, Hulu had over 50 million subscribers, contributing to Disney's total streaming subscriptions of 180.7 million, primarily from Disney+ [1] Group 3: Market Position - Disney+ launched ESPN+ in 2018 and planned to acquire a majority stake in Hulu in 2019, subsequently launching Disney+ at the end of that year [1] - In the first quarter, Disney+ added 1.4 million subscribers, reaching a total of 126 million, while Hulu added 1.3 million subscribers, marking a 3% growth [1] - Comcast's NBCUniversal has focused on developing its own streaming service, Peacock, which reported 41 million subscribers in April [1]

当人工智能以指数级速度重塑商业逻辑与传媒生态，媒体行业站在了时代变革的风口浪尖。新技术的迅猛发展既带来颠覆性挑战，也为行业创造了新的机 遇。面对算法驱动的内容生产，以及组织管理的范式革新，媒体管理者亟需构建前瞻视野与实战能力，以引领行业在变革中破局新生。 班级合影 汪泓致辞 开学典礼上，中欧国际工商学院院长、管理学教授汪泓致欢迎词。她首先向长期陪伴和关注中欧成长与发展的媒体伙伴们表示感谢。长期以来，学院与200 多家中外主流媒体建立了广泛的联系，借助媒体的力量将中欧之声传播至全球近80个国家和地区。学院每年与国内外知名媒体策划、组织深度报道、高端访 谈，围绕国际化、人工智能、国家战略、区域发展等重要议题，铸就思想高地，打造大师品牌，以中欧知识赋能经济社会发展。 她指出，当前国际局势纷繁复杂，地缘冲突频发，世界经济普遍增长乏力，中国经济在坚守战略定力、保持高质量发展的同时，也不可避免地面临来自外部 环境的多重挑战。美国特朗普政府上任以来，其政策的不确定性不仅影响了美国经济，也对全球经济产生了深远的影响。除对华加征关税之外，美国向中国 打出了经贸、科技、金融、地缘政治、全球治理与人才教育等"六张牌"。这些复杂变量 ...

要闻提示 NEWS REMIND 1. 比亚迪、长安等车企全部统一账期为60天，蔚小理还没跟！ 2.YU7外形被质疑抄袭，小米放设计稿称原创：专家放话百分之百不侵权 3.任正非：美国是夸大了华为的成绩，华为还没有这么厉害 4.智元研究院智能四足机器人"导盲犬"首秀：成功将盲人带到8楼 5.小鹏G7汽车全球首发图灵AI芯片，6月11日登场 6. 融资近百亿元，喜马拉雅12.6亿美元卖身腾讯音乐 7.TikTok重大调整，英国市场成为投资重点，将新增500多个工作岗位、新设办公室 8.寿命仅6个月！火狐Firefox浏览器官方AI助手扩展Orbit宣布6月26日停止服务 今日头条 HEADLINE NEWS 比亚迪、长安等车企全部统一账期为60天，蔚小理还没跟！ 6月10日晚，中国第一汽车集团有限公司、东风汽车集团有限公司、广州汽车集团股份有限公司、赛力斯 集团股份有限公司四家汽车生产企业陆续发表声明，就"支付账期不超过60天"作出承诺。 比亚迪和长安汽车也于11日凌晨先后宣布作出"支付账期不超过60天"的承诺。 据网络整理的各大汽车厂商账期情况，一夜之间，央企、大型民企均纷纷表态反内卷，但蔚小理等新势力 截至发 ...

Core Insights - The 12th China Advertising Urban Bus Media Summit was held in Jinan, focusing on the development trends and innovative transformations of urban bus media in the new era [1] - Discussions included digital transformation, creative marketing, and integrated development within the urban bus media sector [1] Group 1 - The Jining Bus Advertising Media Company discussed strategies for overcoming challenges in the current economic downturn, emphasizing the need for a "media + service" model to enhance commercial value [1] - The company highlighted the importance of diversifying service paths and establishing closer partnerships with clients to provide comprehensive marketing solutions [1] - The company’s entry, the Longgui Electric Music Bus, won an excellent award in the marketing category at the 2025 Golden Bus Advertising Marketing Awards for its unique creativity and market performance [1] Group 2 - Moving forward, the Jining Bus Advertising Media Company plans to deepen its innovative development concepts, increasing investments in digital technology applications, creative planning, and service enhancement [2] - The company aims to leverage advanced technologies such as big data and artificial intelligence for precise advertising placement and improved advertising effectiveness [2] - The goal is to explore the cultural connotations and social value of bus media, creating more impactful advertising works while providing high-quality and efficient advertising services to clients [2]

微博 20250610 摘要 微博 2025 年一季度总营收与去年同期持平，广告业务基本稳定，增值 业务增长约 2%。营业利润为 1.295 亿美元，营业利润率同比小幅提升 至 33%。 微博自 2025 年 3 月接入 Deepseek 大模型后，AI 智能搜索能力显著提 升，智搜产品月活跃用户达 3,000 万，日均使用规模和查询量较去年四 季度有明显增长。预计全年 AI 投入对利润率影响不超过 2 个百分点。 微博已形成年度常规派息政策，将 non-GAAP 净利润的 40%-45%用于 分红，以保持较高股息率，为股东提供可预见性的回报。股票回购方面， 由于市值及可投入资金规模有限，暂不考虑大规模回购。 广告业务中，汽车行业（尤其是新能源车）、高端手机推广及电商平台 投放积极性带来增量，食品饮料行业表现良好。美妆个护占比下降，游 戏行业受客户结构和预算收紧影响承压，但总体结构健康。 618 期间，微博平台整体投放节奏良好，推广期延长使得广告库存分配 更平均。阿里巴巴等头部客户投放突出，其在平台上的广告投放同比有 明显提升。 Q&A 微博在 2025 年第一季度的整体业绩表现如何？ 微博在 2025 年第 ...

中国日报网6月10日电 综合外媒报道，根据美国劳工部6月5日发布的数据，截至5月31日当周，美国初次申请失业救济的人数 攀升至24.7万人，不仅超出分析人士的预期，更创下过去八个月来的最高值。 路透社报道截图 美国全国广播公司华盛顿地方频道（NBC Washington）的报道称，每周首次申领失业救济的人数被视为裁员风向标。尽管特 朗普政府的部分关税威胁已暂停或降低，但市场仍担心关税引发的全球经济放缓可能颠覆美国的就业市场。 美国全国广播公司华盛顿地方频道报道截图 此外，不少企业近期发布财报时也普遍下调了2025年的销售和盈利预期，或者直接取消了业绩指引，其中的原因多数都归咎 于特朗普政府密集又反复无常的关税政策。 5月初，美联储连续第三次将基准利率维持在4.3%。美联储主席鲍威尔表示，失业率与通胀率同时上升的风险加剧，这种非常 态的组合使美联储控制物价和失业率的双重任务变得更趋复杂。他还特别强调，政府的关税政策已令消费者信心与企业预期 受到了打击。 据报道，特朗普政府试图通过大幅提高进口关税来重振制造业，但上周早些时候发布的政府数据显示，4月份美国职位空缺数 上升，同时多项指标表明民众对就业市场信心减弱。 ...