Plus, Australia plans tech-platform charge to shore up local news media. And YouTube raises the price for its TV streaming service. Belle Lin hosts.
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[00:00:16] Here's your TNB Tech Minute for Thursday, December 12th. I'm Belle Lynn for The Wall Street Journal.
[00:00:23] We are exclusively reporting that activist investor Starboard Value has built a significant position in the Bitcoin mining operator Riot platforms and is pushing for changes.
[00:00:35] That's according to people familiar with the matter.
[00:00:38] The exact size of Starboard's position couldn't be learned.
[00:00:41] But, the people said, Starboard has been in discussions with Riot's management team to push the company to convert some of its Bitcoin mining facilities into capacity for so-called hyperscalers or large data center users.
[00:00:57] Riot has a market value of about $4 billion, with its stock price down about 20% year-to-date, even during a broad cryptocurrency rally.
[00:01:07] Riot said in a statement that it had spoken with Starboard on several occasions and welcomed its input, as well as the views of other shareholders.
[00:01:17] Australia plans to implement a new charge on the owners of global tech platforms.
[00:01:22] It's an attempt to shore up local media outlets months after Facebook cut ties with traditional news providers.
[00:01:29] The government plans to charge platforms that choose not to enter or renew commercial agreements with local news publishers.
[00:01:37] And, the government said, the charge will apply to large digital platforms operating significant social media or search services, irrespective of whether or not they carry news.
[00:01:49] News Corp Australia's chief executive said the move will, quote, provide a foundation for rebuilding the media industry.
[00:01:57] While Facebook owner Meta said in a statement that the proposal, quote, fails to account for the realities of how our platforms work.
[00:02:06] News Corp owns Dow Jones, which is the publisher of The Wall Street Journal.
[00:02:11] And, get ready to pay more for YouTube TV.
[00:02:15] YouTube said it would raise the monthly cost of its TV streaming service to $82.99 starting January 13th.
[00:02:24] That's up $10 from the current price.
[00:02:27] The Alphabet-owned video platform said the increase was due to the rising cost of content.
[00:02:33] When YouTube TV made its debut in 2017, the company charged roughly $35 a month for the service.
[00:02:40] For a deeper dive into what's happening in tech, check out Friday's Tech News Briefing Podcast.
[00:02:45] I'll see you guys teilweise at the latest will.