DWA Dreamworks Animation Skg, Inc. (MM)

ASHLEY MADISON

Parent Rebrands Website as Ruby

Avid Life Media Inc., parent company of website Ashley Madison, on Tuesday said it is renaming itself Ruby Corp. amid a push to rebrand itself beyond the infidelity moniker.

Ashley Madison -- which bills itself as "the online personals & dating destination for casual encounters, married dating, discreet encounters and extramarital affairs" -- was thrust in the spotlight last year when cybercriminals posted online stolen customer information, including customers' credit-card details, addresses and sexual preferences.

The renaming is "an important step in our journey to completely rebuild the company as a relevant, digital dating innovator," said Ruby Chief Executive Rob Segal.

--Anne Steele

GOOGLE

EU Grants Extension To Answer Charges

Alphabet Inc.'s Google has been given more time by the European Union to respond to accusations that it has abused its market dominance with its Android mobile operating system.

The European Commission, the bloc's antitrust regulator, on Tuesday said it was giving Google six additional weeks, until Sept. 7, to respond to the EU charges that were made against the technology giant in April.

"Google asked for additional time to review the documents in the case file," a commission spokeswoman said.

The commission has accused Google of using its Android mobile-operating system, which runs more than 80% of the world's smartphones, to strong-arm phone makers and telecom companies into favoring Google's search engine and browser on their devices.

Google also is facing formal charges over its conduct with its shopping service. And the EU is expected to soon issue a so-called statement of objections about the company's advertising business.

--Natalia Drozdiak

DREAMWORKS

Katzenberg Payouts To Top $400 Million

In addition to cashing out nearly $400 million in company stock, DreamWorks Animation SKG Inc. Chief Executive Jeffrey Katzenberg can expect an additional payout of about $44.5 million when he departs his studio following its expected sale to Comcast Corp., according to a regulatory filing released Monday.

Mr. Katzenberg, who has been CEO of the "Shrek" and "Madagascar" studio since it went public in 2004, will receive about $14.9 million in cash payments tied to vested stock-appreciation rights and about $29.6 million in a change-in-control payout when he leaves the company as part of the deal.

Mr. Katzenberg's role at DreamWorks following the acquisition was among the sticking points of the talks.

--Erich Schwartzel and Ben Fritz

MERCK

Research Jobs Cut at Three East-Coast Sites

Merck & Co. said it plans to lay off research-and-development workers at three East Coast sites in a shake-up of its early-stage drug-hunting efforts that also includes a new focus on the health effects of micro-organisms that populate the human body.

A Merck spokeswoman said the job cuts, and some employee transfers, would affect less than 10% of "discovery, preclinical and early development" employees at locations in New Jersey and Pennsylvania.

The move marks the latest round of layoffs and reorganization for Merck's research unit, which was once known for cutting-edge drug development but which hit a fallow period late last decade.

Other large drugmakers including Pfizer Inc. and GlaxoSmithKline PLC also have cut R&D spending or reorganized research units in recent years to become more productive relative to their spending.

At the same time, Merck plans to start new laboratories in Cambridge, Mass., and the San Francisco Bay Area.

--Peter Loftus

(END) Dow Jones Newswires

July 13, 2016 02:48 ET (06:48 GMT)

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