Paramount Global recently held talks with Comcast on joining forces for a streaming deal, the Wall Street Journal reported Friday, citing people familiar with the matter. The two companies discussed a streaming partnership or joint venture for Paramount+ and Peacock, among several strategic options Paramount was pursuing, the report said. The development comes after Fox, Walt Disney’s ESPN and … Read more
Walmart is in talks to buy smart television manufacturer Vizio for more than $2 billion, the Wall Street Journal reported Tuesday, citing people familiar with the matter. Shares of Vizio jumped 36% after the report, while Walmart’s shares were down about 1%. Vizio did not immediately respond to a request for comment. Walmart, including its Sam’s Club … Read more
Some pilots at Spirit Airlines are worried and scouring for other opportunities after a judge last month blocked the low-cost air carrier’s proposed merger with competitor JetBlue Airways, throwing its future into doubt. Spirit pilots, recruiters and industry sources told Reuters that the ruling has led to increased job applications at other places of employment. Spirit Chief Financial Officer Scott Haralson … Read more
Adam Neumann, WeWork’s disgraced billionaire founder, has reportedly spent the past several months trying to buy back the bankrupt co-working giant after being ousted as its CEO five years ago. A team of lawyers led by Alex Spiro of Quinn Emanuel — who also represents Elon Musk and Jay-Z — penned a letter earlier reported … Read more
For people out there who love pro golf and want the best of the best competing against each other every week, you better hope Donald Trump is your next president, and it’s not just because the former president is such a golf fanatic. It’s because of the type of regulatory apparatus he will install if … Read more
Macy’s CEO Tony Spring will officially grab the reins on Sunday as the storied retailer faces slowing sales growth and takeover threats. Spring, 58, who has climbed the ladder at high-end sister company Bloomingdales, has been Macy’s CEO-elect since last March — when Jeff Gennette announced plans to retire. “I am excited to take on … Read more
Skydance Media CEO David Ellison has made a preliminary offer to buy National Amusements, the holding company of the Redstone family, as a way to take control of Paramount Global, Bloomberg News reported Wednesday. Ellison, son of Oracle founder Larry Ellison, has held discussions with Paramount about merging it with Skydance Media, after he takes … Read more
Arkhouse Management and its partner Brigade Capital Management on Dec. 1 made a $5.8 billion proposal to take department store chain Macy’s private, Arkhouse confirmed on Sunday. Arkhouse Management, a real-estate-focused investing firm, and Brigade Capital Management, a global asset manager, submitted a proposal to acquire the Macy’s stock they don’t already own for $21 … Read more
JetBlue Airways and Spirit Airlines said Friday they will appeal a federal judge’s ruling that blocked the air carriers’ planned tie-up because the proposed merger would violate US antitrust law. The appeal came after US District Judge William Young in Boston on Tuesday sided with the Department of Justice in holding that JetBlue’s planned $3.8 billion acquisition of ultra-low-cost carrier Spirit was anti-competitive … Read more
The European Union’s competition watchdog plans to block Amazon’s $1.7 billion deal for robot vacuum maker iRobot, The Wall Street Journal reported Thursday, citing people familiar with the matter. Shares of the Roomba vacuum maker plunged 40% to $14 after the bell. Officials from the European Commission met Amazon’s representatives on Thursday to discuss the deal, the report said. The tech giant did not … Read more
