AMC postponed its Tuesday annual meeting to July 29 with hours to spare to give participants “more time to cast ballots on important shareholder matters,” said the theater chain in a 10:15 a.m. CDT announcement. The in-person meeting was to begin at 2 p.m. CDT at AMC headquarters in Leawood, Kansas. AMC didn’t say if the rescheduled meeting will also be held physically, and the company didn't respond to questions. It’s to report Q1 results Thursday. One of the items on Tuesday's agenda was a proposal to adjourn the meeting “to a later date or dates” if there were “insufficient” votes available on hand or by proxy to conduct business, according to a March 19 proxy statement. AMC’s board recommended voting in favor of the proposal, said the proxy. It could take years for AMC to repay its debt after COVID-19 forced theaters to close or into limited use, Wedbush analyst Michael Pachter wrote investors Monday (see 2105030032).

Sony sold 9.3 million TVs globally in fiscal 2020 ended March 31, matching its year-earlier performance with a stronger than expected fiscal Q4, reported the company Wednesday. The 2 million sets sold in the March quarter, though down 38% sequentially from fiscal Q3, were up 43% year over year. Revenue in the Electronics Products & Solutions segments that include TVs declined 4% for the year mainly due to a decrease in unit sales of digital cameras, offset by an improvement in the TV product mix, said Chief Financial Officer Hiroki Totoki on an earnings webcast. Sony is forecasting fiscal 2021 sales to rebound, rising 9% for the year on recovering digital camera unit sales, he said. “Intermittent disruptions in the supply chain” due to COVID-19 affected the segment throughout the year, said Totoki: “We were able to respond swiftly to these changes.” Sony sold 7.8 million PlayStation 5 consoles in fiscal 2020, slightly beating its 7.6-million-unit target (see 2102030025). The PS5 debuted Nov. 12 in the U.S. and five other regions and launched globally about a week later. PS5 supply “has not been able to keep up with the extremely strong demand,” said Totoki. “Although constraints in the supply of components, especially semiconductors, are expected to continue this fiscal year, our planned target is to exceed the 14.8 million units we sold in the second year after the launch of the PlayStation 4.” Sony will “continue to work to secure components and strive to do our utmost to produce and sell more units above target,” he said.

Apple is investing over $430 billion and adding 20,000 U.S. jobs over the next five years, said the company Monday. That includes “billions” of dollars for silicon development and 5G innovation in nine states, plus data center investments, capital expenditures and spending with American suppliers. The company’s Apple TV+ productions in 20 states create “thousands” of jobs, it said. It’s investing over $1 billion in North Carolina, including a new campus and engineering hub in the Research Triangle area, which is expected to create 3,000 jobs in machine learning, AI and software engineering. The company will contribute over $110 million in infrastructure spending to 80 North Carolina counties for broadband, roads, bridges and public schools. Apple is on track to meet its 2018 goal of creating 20,000 new jobs in the U.S. by 2023; its next target is to create 20,000 jobs in California, Colorado, Iowa, Massachusetts, Texas and Washington.

Vizio’s Q1 earnings call, its first since going public March 25 (see 2103250029), will be May 11 at 4:30 p.m. EDT, announced the company Thursday after the markets closed. Shares got a rocky start opening day, plunging nearly 17% just after they started trading on the New York Stock Exchange. The stock has held steady since, generally hovering within the $21-$23 per-share range that Vizio proposed as its initial public offering price in its March 16 amended registration statement (see 2103160029).

With T-Mobile coming on strong and competition intensifying, Verizon lost 178,000 postpaid wireless phone subscribers in Q1. Verizon was the first of the big three to report, with AT&T set for Thursday. Verizon’s buy of Tracfone will likely close in Q3, CEO Hans Vestberg told analysts Wednesday: “Everything we said from the beginning is holding true. The process is continuing as expected.” The FCC asked both companies last week for more data, including the deal's implications for Lifeline customers (see 2104140064). Vestberg defended the company’s $52.9 billion in bids in the C-band auction. “The combination of C band and our millimeter wave places us in a unique position of strength to execute on all 5G opportunities,” he said. Verizon ordered half the gear it needs to deploy in the C band this year, he said. Verizon is feeling effects from the pandemic, Vestberg said. “While we see significant progress in vaccinations, customer sentiment and recovery of our economy, there is still a lot to go before we are back to normal.” Asked if Verizon planned to apply for emergency broadband funds from the FCC, Vestberg said companies should take the lead, with government focusing on “affordability.” Profit was $5.4 billion, up from $4.3 billion a year ago and better than any quarter last year. Revenue was $32.9 billion, up from $31.6 billion. Verizon added a net 98,000 Fios customers but lost 82,000 pay-TV subscribers, citing "the ongoing shift from traditional linear video to over-the-top offerings." Verizon’s advantages in the 4G era are slipping away, MoffettNathanson’s Craig Moffett told investors. “In 5G, Verizon looks destined to be a fast-follower, at best,” he said. “Verizon is quick to argue that T-Mobile’s 2.5 GHz spectrum won’t translate into a coverage advantage (they argue that their newly-won 3.7 GHz spectrum will propagate just as far given allowable power level differences). Good try. But T-Mobile has more spectrum, they have it sooner, and they’re already far down the road of building out their network.” New Street’s Jonathan Chaplin said he’s watching long-term trends for Verizon more than quarterly results. “We were surprised by long-term guidance of flat margins amid improving revenue growth; wireless has always been a business with operating leverage,” he told investors: “We suspect the investment in infrastructure to deploy C-Band is driving up fixed costs.”

Citibank contacted customers Wednesday pitching a new video banking service as a “comfortable and easy way to connect.” Customers can schedule a video call to bank with a branch team “securely,” receive assistance with an existing account or open a new one, it said. In our search Wednesday, video bankers’ hours were listed as 9 a.m.-4 p.m. EST Monday-Friday. A chat representative confirmed that during daylight saving time, a video appointment booked for 10 a.m. would take place at 9 a.m.

Bernstein’s Peter Supino questioned Dish Network complaints that T-Mobile closing its CDMA network hurts competition (see 2104140036). “The incremental cost to migrate Dish's customers to a more advanced network is not high,” he told investors Monday. Prepaid churn is high, “so a significant amount of the base will have an opportunity to update their phones,” he said: “Customer phones need to be upgraded to use Dish's standalone 5G network anyway.” But “millions of Boost customers, the majority of whom are underserved and face income challenges, are at risk of being impacted,” said a Dish spokesperson. “This issue is not just about devices, which are in limited supply due to global chip shortages and LG's exit from the market, or cost. As T-Mobile well knows, technology migrations take time.”

Comscore joined the Out of Home Advertising Association of America and trade marketing association DPAA, as it adds OOH measurement to its cross-platform product offerings. More than $9 billion is projected for OOH ad spending in coming years, it said Wednesday, citing plans to measure outdoor advertising platforms, cinema and place-based distribution including retail spaces, stadiums, office buildings and transportation hubs. OOH adds to Comscore audience insights across linear TV, over-the-top video, desktop, mobile and cinema “when America is starting to go out of home again,” said CEO Bill Livek.

Entercom rebranded as Audacy, said CEO David Field Tuesday. He cited sports betting, with the company announcing a multiyear deal with BetMGM Tuesday. The MGM property is its “preferred sports betting partner” across its stations, Audacy and Bet QL apps and digital platforms, and the recently launched “BetQL Audio Network.” Audacy is integrating sports betting content to “millions of sports fans” who tune in daily to Audacy’s broadcast stations, podcasts and shows, it said; BetMGM gets preferred access to Audacy talent. The broadcaster recently bought sports data and iGaming affiliate platform QL Gaming Group. “The advent of legalized mobile sports betting has presented an unprecedented opportunity to bring the action closer to the audience than ever before and, as a result, provide our partners with a direct line of sight to tap into an attentive, fully engaged audience of potential sports bettors,” said Mike Dee, Audacy president-sports. BetMGM Chief Revenue Officer Matt Prevost cited Audacy’s track record in sports radio, digital audio and “now the direct-to-consumer betting analytics space,” saying the partnership enables the company to extend its reach. Audacy’s stations include WFAN-FM/AM New York, SportsRadio WIP(FM) Philadelphia and WSCR(AM) Chicago. Audacy also said Tuesday it signed an exclusive podcast partnership with singer and actress Demi Lovato and exclusive podcasts and projects with Boomer Esiason, Big Tigger and The Rich Eisen Show. A revamped Loveline debuts this summer, it said. The broadcast company’s stock ticker symbol will change from ETM to AUD. Also effective Tuesday, the company sunsetted the Radio.com brand and aligned its direct-to-consumer platform under Audacy. Cadence13, Pineapple Street Studios, BetQL and Podcorn remain market-facing brands.

Apple is going virtual again with its Worldwide Developers Conference (WWDC), scheduled for June 7-11, it said Tuesday. The WWDC, traditionally at Apple's Cupertino, California, headquarters, was virtual for the first time in 2020 due to COVID-19. The all-online event, free for all developers, will feature a keynote, state of the union announcements, sessions and 1:1 labs, it said. The company said Monday it’s expanding its Independent Repair Provider program to over 200 countries, “nearly” every one where its products are sold. Repair providers have access to genuine Apple parts, tools, repair manuals and diagnostics. Apple has over 1,500 authorized repair locations under the program in the U.S., Canada and Europe.