Tuesday, August 18
Disney sues FCC, calling it government retaliation
The company is taking the unusual step of fighting back in court after federal regulators threatened its broadcast licenses over news coverage and on-air commentary.
Top Stories
Disney's lawsuit is a bet that fighting the government openly beats quietly giving ground
Disney and its ABC unit filed suit against the FCC on Tuesday, arguing that forcing eight ABC stations into early license reviews is punishment for the network's journalism and programming, not legitimate regulation.
For years, Disney's leadership avoided picking public fights with Washington, but that posture kept the pressure coming anyway, and this lawsuit signals the company has decided that legal confrontation is now the safer path than continued accommodation.
Home Depot's results prove homeowners are still spending, just not on big renovations
Home Depot topped Wall Street's expectations for both sales and profit in its latest quarter, posting its strongest comparable-sales growth in nearly four years on the back of steady demand for everyday repair and upkeep projects.
With mortgage rates still elevated and the housing market largely frozen, the results show that people are fixing the homes they're stuck in rather than buying new ones, which turns out to be a reliable enough business to keep the company's full-year outlook intact.
Apple's EU fee overhaul is a concession dressed up as a compromise
Apple announced it will replace its controversial per-install charge for alternative app stores in Europe with a flat 5% commission on in-app purchases, a direct response to years of antitrust pressure from the European Commission over its App Store rules.
The new structure is simpler and less punishing for small developers, but it still keeps Apple collecting a cut from every transaction, meaning the company found a way to satisfy regulators without actually letting go of the revenue stream at the center of the dispute.
Also Today
- Tesla lands largest heavy-duty electric truck order to date
- ExxonMobil's Guyana partner claims a bigger share of the oil
- American Airlines brings back seatback screens to win travelers
Takeaway
The day's biggest story was not an earnings beat or a trade deal but a media company taking the federal government to court over the First Amendment, which is the kind of escalation that rarely stays contained to one company.
Watch whether other broadcasters or tech platforms facing similar regulatory pressure decide Disney's courtroom strategy is worth copying, because that would turn today's lawsuit into the opening move of something much larger.
