In a recent development, activist investor Starboard Value has taken steps to dissolve News Corp’s dual-class share structure. This move is seen as a direct challenge to the Murdoch family’s control over the Wall Street Journal parent company. It has been reported by sources familiar with the matter that Starboard Value made this push through
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In the world of professional sports, where team ownership is typically held by wealthy investors and corporations, the Green Bay Packers stand out as the only team in the National Football League with a unique ownership structure. Unlike the other 31 NFL franchises, the Packers are owned by stockholders, many of whom are die-hard fans
As the NFL season kicks off, CNBC introduces its Official NFL Team Valuations, ranking professional football teams based on their overall franchise value. This valuation, calculated by CNBC senior sports reporter Michael Ozanian, takes into account a team’s revenue, profit, and debt. It comes as no surprise that the average NFL team is now worth
Steph Curry, four-time NBA champion and 10-time NBA All-Star, is already looking ahead to his life after basketball. In a recent interview with CNBC’s “Squawk on the Street,” Curry discussed his current businesses and his aspirations for the future. Among his ventures, Curry owns a media company called Unanimous Media, as well as a youth
As the football season kicks back into action, it’s expected to bring in record-breaking betting returns. Projections from the American Gaming Association suggest that U.S. adults will wager a staggering $35 billion during this NFL season. This anticipated figure marks a significant increase of over 30% compared to the $26.7 billion wagered during last year’s
Ulta Beauty’s shares plummeted 7% in extended trading after the company failed to meet second-quarter expectations and revised its full-year guidance due to a decrease in same-store sales. This marked the first earnings per share miss for Ulta since May 2020 and the first revenue miss since December 2020. Comparable sales in the second quarter
In the midst of economic turmoil, the restaurant industry has been hit particularly hard. The year 2024 has seen a surge in bankruptcy filings among notable restaurant chains, signaling broader struggles within the corporate sector. With at least 10 restaurant chains seeking bankruptcy protection this year, the impact of the ongoing pandemic, rising labor costs,
The landscape of cannabis consumption is rapidly evolving, especially in a bustling metropolis like New York City. From iconic retailers on Fifth Avenue to chic dispensaries, the luxury market for cannabis is gaining significant traction. As the legal avenues for cannabis consumption expand, it is fascinating to see how high-end brands are entering the industry
Low-cost and deep discounter airlines are facing significant challenges in the current economic climate. These airlines, such as Spirit Airlines, JetBlue Airways, and Frontier Airlines, have struggled to maintain profitability in the face of increased competition and rising costs. Engine repairs have also played a role in impacting their bottom line, leading these airlines to
Amid the ongoing battle against the Covid-19 pandemic, the Food and Drug Administration recently authorized Novavax’s updated protein-based Covid vaccine for emergency use in individuals aged 12 and above. This development marks a significant milestone in the fight against the highly contagious omicron subvariant JN.1, which has been circulating widely in the United States. Novavax’s