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Shari Redstone, chair of Paramount Global, attends the Allen & Co. Media and Technology Conference in Sun Valley, Idaho, on Tuesday, July 11, 2023. The consortium has been waiting for word from Paramount's special committee on whether the panel will recommend its bid to acquire the company to Redstone. Spokespeople for Skydance, Redstone's National Amusements and Paramount's special committee declined to comment on Friday. Previously, Redstone rejected an offer by Apollo in favor of exclusive talks with Skydance. Redstone has preferred a deal that would keep Paramount together, as Skydance's offer would, CNBC previously reported.

Persons: Shari Redstone, David Ellison's Skydance, CNBC's David Faber, Ellison, Spokespeople Organizations: Paramount Global, Allen, Co . Media, Technology Conference, Skydance, Apollo Global Management, Sony Pictures, RedBird Capital, KKR, Paramount, Apollo, Sony, CNBC, Redstone Locations: Sun Valley , Idaho

Spokespeople for Paramount, Redstone's National Amusements, the special committee and Skydance declined to comment. Sony Pictures and private equity firm Apollo Global Management have sent a letter to the Paramount Global board expressing interest in acquiring the company for about $26 billion, according to people familiar with the matter. Paramount Global shares jumped more than 12% on the news that Sony and Apollo submitted a letter formalizing its interest, earlier reported by The New York Times and Wall Street Journal. A $26 billion offer for Paramount Global values the company higher than the company's current $22 billion enterprise value. Redstone could also argue she's more comfortable with pushing forward at Paramount Global without a sale.

Persons: Skydance, hasn't, David Ellison's Skydance, Shari Redstone, It's, Redstone's, Bob Bakish Organizations: Paramount, Sony, Apollo, Skydance, RedBird Capital, KKR, Sony Pictures, Apollo Global Management, Paramount Global, The New York Times, Wall Street Journal, Hollywood, Matrix Asset Advisors, Aspen Sky Trust, Redstone Locations: Apollo

☆ Bally Sports regional networks go dark for Comcast cable customers
▼ + stars: | 2024-05-01 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +4 min

Negotiations between Comcast and Bally Sports' operator Diamond Sports Group, which has been under bankruptcy protection since last year, broke down following a dispute over terms. Pay-TV distributors have been losing customers at a fast clip in recent years as customers opt for cheaper streaming options. Comcast had more than 13.6 million pay-TV customers as of March 31, after losing 487,000 subscribers during the first quarter. Some regional sports networks have begun offering streaming options to customers at a price point that doesn't upend the pay-TV model. In addition to Comcast, Diamond has held negotiations in recent weeks with Charter Communications — which provides pay-TV services under the Spectrum brand — DirecTV and Cox Communications.

Persons: Diamond, Cox Organizations: Bally, Houston Astros, Minnesota Twins, Target, The Astros, Twins, Comcast, Bally Sports, Diamond Sports Group, MLB, Detroit Tigers, NBA, NHL, Diamond, Comcast ., Communications, DirecTV, Cox Communications, Charter, Google, Disney, San Diego Padres, Phoenix Suns, CNBC Locations: Minneapolis , Minnesota, NBCUniversal

☆ Pittsburgh Pirates, Penguins launch streaming service for local games
▼ + stars: | 2024-04-29 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +1 min

SportsNet Pittsburgh on Monday unveiled SNP 360, which will cost fans in its local market $17.99 a month to watch Pirates and Penguins games outside of the pay-TV bundle. It also follows a shakeup at SportsNet Pittsburgh last year. The network is now owned by the Pirates and Penguins. Fenway Sports Group and Delaware North, also the parent company of the Boston Bruins, own the regional sports network NESN, which manages SportsNet Pittsburgh. "Our desire has been to reach fans wherever they are and give them options to access our clubs' telecasts," said NESN and SportsNet Pittsburgh CEO Sean McGrail.

Persons: —, Sean McGrail Organizations: MLB, NHL, Pittsburgh, Monday, Pirates, Penguins, SportsNet Pittsburgh, Warner Bros, Discovery, Warner Media, Fenway Sports Group, Boston Red Sox, Delaware, Boston Bruins, SportsNet Locations: SportsNet Pittsburgh

☆ Peacock streaming subscription prices to increase by $2 ahead of the Summer Olympics
▼ + stars: | 2024-04-29 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

Subscription prices for Peacock, Comcast 's answer to the streaming wars, will increase by $2 this summer. The Summer Olympics begin in late July. Effective last August, ad-supported Peacock's price rose $1 to $5.99, and ad-free went up $2 to $11.99 per month. The streaming service launched in 2020 in time for the Summer Olympics in Tokyo — which was pushed to 2021 due to the pandemic. This was due in part to increased advertising revenue, which has lagged for traditional TV networks recently.

Persons: Peacock, Comcast's, Oppenheimer Organizations: Peacock, Comcast, Media, NFL, Premier League, Summer, Universal Pictures, NBC, CNBC Locations: Paris, Tokyo, NBCUniversal

☆ Paramount says CEO Bob Bakish is stepping down, will be replaced by a trio of executives
▼ + stars: | 2024-04-29 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +4 min

David A. Grogan | CNBCParamount Global CEO Bob Bakish is stepping down, the company announced Monday, as merger negotiations with Skydance Media continue. Bakish climbed the corporate ladder after joining Viacom in 1997, until he became CEO of the company in 2016. Following the merger of Viacom and CBS, he became CEO of the combined company in 2019, which was later renamed as Paramount Global. Paramount will now be led by CBS president and CEO George Cheeks; Chris McCarthy, president and CEO of Showtime/MTV Entertainment Studios and Paramount Media Networks; and Brian Robbins, the head of Paramount Pictures and Nickelodeon. Paramount said it added 3.7 million Paramount+ subscribers during the quarter, bringing the total to 71 million.

Persons: Bob Bakish, David A, Bakish, George Cheeks, Chris McCarthy, Brian Robbins, Naveen Chopra, Chopra, LSEG, Bob Marley Organizations: Viacom, Allen & Company Sun Valley Conference, Grogan, CNBC Paramount Global, Skydance Media, CBS, Paramount Global, Paramount, Showtime, MTV Entertainment Studios, Paramount Media Networks, Paramount Pictures, Nickelodeon, LSEG, Super, BET, MTV, NFL, TV Media, Hollywood Locations: Sun Valley , Idaho

☆ Comcast beats earnings estimates even as it sheds more broadband subscribers
▼ + stars: | 2024-04-25 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

Comcast beat first-quarter earnings expectations on Thursday, as broadband drove revenue even as the company and its peers have seen customer growth slow. Revenue from the domestic broadband customers segment boosted that growth as rates increased, even as Comcast lost 65,000 customers during the quarter. The three businesses now report under the same segment, which collectively saw revenue rise 1.1% to $10.37 billion. The service added 3 million paid subscribers during the quarter, bringing its total number of customers to 34 million. While domestic advertising was flat during the quarter, the company saw its domestic distribution revenue increase, driven by the growth at Peacock.

Persons: NBCUniversal, Peacock, Oppenheimer Organizations: Comcast, LSEG, Revenue, Universal Pictures, CNBC Locations: Peacock, NBCUniversal

☆ Sports programming still dominates TV, and Netflix is leaning more into it
▼ + stars: | 2023-10-18 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +3 min

Whether it's streaming or traditional TV, sports keep audiences coming back to their screens — and Netflix is working on getting more into the game. Netflix announced it would broadcast "The Netflix Cup" live, a matchup between athletes that appeared in the Formula 1 docuseries and the golf series "Full Swing." Even though customers are fleeing traditional TV, from the cable-TV bundle to broadcast, those that stick around often do so for the live sports. That showed in September, when the return of the National Football League and college football seasons propelled both broadcast and cable-TV viewership. It has been a gradual move toward both sports and live streaming — Netflix had technical issues when it aired the finale of reality show "Love is Blind" earlier this year — but one the streamer appears ready to make.

Persons: Max, NBCUniversal's Peacock Organizations: Netflix, Sports, Heineken Silver Las Vegas, National Football League, Nielsen, ESPN, Warner Bros, Disney, NFL, NBC, CNBC Locations: Las Vegas

☆ Disney gives investors a look at ESPN financials, including recent revenue declines
▼ + stars: | 2023-10-18 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +3 min

The reorganization of Disney 's business is giving investors a glimpse at ESPN's financials for the first time. The company is now broken down into three divisions, one of which is an ESPN segment that includes the TV network and ESPN+ streaming service. A part of the fight was Disney's future prospects for ESPN on streaming. Disney plans to make the ESPN channel a direct-to-consumer option outside of the bundle for customers in the future. However, last week, Trian upped its stake in Disney and now a second proxy battle is brewing, CNBC reported.

Persons: financials, Read, Nelson Peltz, Trian Organizations: Disney, ESPN, Star India, Netflix, Charter Communications, Trian, Management, CNBC Locations: Parks

☆ Starboard CEO makes case for spinning off real estate assets from WSJ owner News Corp
▼ + stars: | 2023-10-17 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

– in particular to see its real estate business separated from the rest of the company. Smith said News Corp. should split out its real estate assets, including an interest in REA Group of Australia. On Tuesday, Smith called out the valuation discrepancies between the news and real estate businesses. Meanwhile, News Corp.'s real estate assets trade at eight-times, he said. "It's a great business, a great asset, it's just too cheap," Smith said of News Corp.'s stock price.

Persons: Jeffrey Smith, CNBC's David Faber, Smith, Murdoch, It's, it's Organizations: News Corp, –, REA Group of Australia . News Corp, Dow Jones, Wall Street, New, CNBC, Reuters, Street, Fox Corp, New York Times Locations: New York

The firm plans to push for multiple seats on the board this time, including one for Peltz, the people said. Peltz's activist firm, Trian Fund Management, has increased its stake in Disney to about 30 million shares, valued at roughly $2.5 billion, according to people familiar with the matter. A proxy battle between Nelson Peltz and Disney is brewing for the second time this year. It's been nearly a year since Bob Iger returned as Disney's CEO. Iger returned to Disney following a fallout with Bob Chapek, has handpicked successor.

Persons: Nelson Peltz, Peltz, It's, Bob Iger, Iger, CNBC's David Faber, Trian, Disney's, Bob Chapek Organizations: Alpha, Disney, Trian Fund Management, ESPN, Fox Locations: New York, Disney, Peltz

☆ For U.S. investors seeking an edge in European soccer, the cheaper the better
▼ + stars: | 2023-10-08 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +3 min

This comes as deep-pocketed investors — from top U.S. private equity and venture capital firms to global rivals like sovereign wealth funds — have intensified competition. Meanwhile, more than one-third of the clubs in the so-called "Big Five" leagues in Europe are backed by U.S. investors, including private equity and venture capital firms. "These recent transactions have set a precedent in terms of club valuation but also prompted many owners to consider selling to [private equity]," according to an analyst report from PitchBook. Some firms, like Sixth Street Partners, have found different outlets into taking a stake in European soccer, particularly in Spain's LaLiga. The shift is happening as soccer clubs have been looking for fresh capital following the distress stemming from the earlier days of the Covid pandemic.

Persons: Liverpool's Curtis Jones, Charles Baker, PitchBook, Todd Boehly, English Premier League's, Elliott Management's, Lionel Messi Organizations: Premier League, King Power, U.S, Manchester United, Chelsea FC, Newcastle, Clearlake Capital, English Premier, English Premier League's Chelsea, Redbird Capital Partners, Italy's AC Milan, Sixth Street Partners, FC Barcelona, Fenway Sports Group, Liverpool FC, Dynasty Equity, English Premier League, Sheffield United Locations: Leicester, European, U.S, Europe, PitchBook, LaLiga, Spanish, Real Madrid's

☆ Streaming companies chase Spanish-language sports rights to capture growing Hispanic viewership
▼ + stars: | 2023-10-06 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +3 min

It's an effort to diversify viewership and advertising opportunities — and to capitalize on a growing Hispanic streaming audience. Hispanic audiences spend nearly nine hours per day consuming media, the majority of which is TV viewership, according to a recent study from Nielsen based on viewership habits from July. The study noted the Hispanic audience has been at "the forefront of cord-cutting," making it a growing majority of streaming viewership, too. According to the findings, Hispanic viewers spend more than 50% of their time consuming TV through streaming, eclipsing the general population, at nearly 40%. Traditional media companies across the board have been doling out cash for sports as live games still command the highest traditional TV viewership.

Persons: Roberto Firmino, Eder Militao, NBCUniversal's, It's, Shirin Malkani, Perkins, Lea, Eli Velazquez, Lionel Messi Organizations: Liverpool, Real Madrid, UEFA Champions, Liverpool FC, Anfield, . Media, Canela Media, Telemundo, ESPN, Nielsen, Telemundo Deportes, Major League Soccer's Inter Miami Locations: Real, Liverpool, England, Spanish, U.S

☆ Arizona Coyotes local games move to broadcast networks – the latest big shift in sports TV
▼ + stars: | 2023-10-05 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +4 min

The Arizona Coyotes are skating to a new TV home for local games – showcasing the pressure on cable TV bundles due to cord cutting while broadcast stations look to nab more sports media rights. Scripps Co. on Thursday that will see its local games air on over-the-air networks. The Coyotes' local games aired on Bally Sports Arizona. MLB began running the distribution of the Diamondbacks, as well as the San Diego Padres, another contract rejected by Diamond, earlier this year. The landscape for local games has dramatically shifted as consumers flee the traditional cable TV bundle and opt for streaming services.

Persons: Barrett Hayton, Diamond, Phoenix Mercury –, Gray, Scripps, Knights – Organizations: Arizona Coyotes, Dallas Stars, American Airlines Center, The Arizona Coyotes, nab, NHL, Scripps Co, Diamond Sports Group, Coyotes, Scripps, Bally Sports Arizona, Arizona Diamondbacks, Phoenix Suns, Phoenix Mercury, Diamond, Suns, Mercury, Gray Television, MLB, Diamondbacks, San Diego Padres, CNBC, Vegas, Knights, Stanley, Warner Bros, Warner Media, MLB's Houston Astros, NBA's Houston Rockets, T SportsNet, City Home Network Locations: Dallas , Texas

☆ Tiger Woods and Rory McIlroy's TGL golf league will air on ESPN
▼ + stars: | 2023-10-05 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

Disney' s ESPN has nabbed the broadcast rights to air matches from TGL, the startup golf league led by Tiger Woods and Rory McIlroy. TGL, which is in partnership with the PGA Tour, will have its debut Jan. 9 as part of a multiyear deal. Both TGL matches will air on traditional TV's ESPN and streamer ESPN+. The agreement between the PGA Tour and LIV has yet to be finalized. TGL, a new primetime, high-tech golf league created by Woods, McIlroy and former NBC Sports executive Mike McCarley, has attracted stars from the PGA Tour.

Persons: Rory McIlroy, Tiger Woods, TGL, LIV Golf, LIV, Woods, McIlroy, Mike McCarley, Jon Rahm, Justin Thomas, Collin Morikawa, Matt Fitzpatrick, Justin Rose, Adam Scott, Xander Schauffele, Max Homa, Rickie Fowler, Billy Horschel, Steve Cohen Organizations: Augusta National Golf Club, Disney, ESPN, PGA, ABC, College Football, NFL, Tour, Saudi Arabia's Public Investment Fund, Endeavor Group Holdings, Fenway Sports Group, CNBC, NBC Sports, Major League Baseball's New York Mets, New York, Private Ventures Locations: Augusta , Georgia, TGL, Palm Beach Gardens , Florida

☆ Endeavor, Fenway Sports consider investment in the PGA Tour
▼ + stars: | 2023-09-28 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +3 min

The PGA Tour logo is seen during the third round of the Travelers Championship at TPC River Highlands in Cromwell, Connecticut, on June 24, 2017. The discussions, which are in preliminary stages, stem from a PGA Tour investment vehicle created as part of the framework agreement for its proposed deal with PIF. "Throughout 2023, the PGA Tour has demonstrated its strength, reach and value as an enterprise. In June, the PGA Tour announced a proposed deal that would see it combine with rival LIV Golf following months of lawsuits and competition between the two. The deal between LIV and the PGA Tour has faced criticism and controversy.

Persons: LIV, Saudi Crown Prince Mohammed bin Salman, PIF Organizations: Investment, Endeavor Group Holdings, Fenway Sports Group, PGA Tour, PGA, Public Investment Fund, Endeavor, Fenway, Bloomberg, LIV Golf, Saudi Crown, LIV, UFC, Wrestling Entertainment, Major League Baseball's Boston Red Sox, Liverpool Football Club, National Hockey League's Pittsburgh Penguins Locations: Cromwell , Connecticut, Saudi

Carvana PPA Tour Courtesy: Carvana PPA TourProfessional Pickleball is getting a dedicated home: The Tennis Channel. "It's going to create so much more access for people," PPA Tour owner Tom Dundon told CNBC. The pair will also create pickleballtv, a 24/7 standalone free, ad-supported streaming channel featuring matches as well as entertainment surrounding the sport. Dundon added it's a 50-50 partnership between the two entities, noting the PPA Tour will put the capital in and Tennis Channel will bring its production and media expertise. He foresees the joint venture propelling further media rights deals with the help of Tennis Channel executives that are familiar with TV carriage negotiations and building up streaming platforms.

Persons: Pickleball, Tom Dundon, Sinclair, Dundon, Read, Ken Solomon Organizations: Tennis Channel, PPA, Tennis, CNBC, Disney, ESPN, Paramount, CBS, Prime, Fox, Apple, Major League Soccer, MLS Locations: U.S, Pickleball.com

☆ Amazon is bringing ads to Prime Video — the ad-free option will cost an extra $2.99 a month
▼ + stars: | 2023-09-22 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

Ads are coming to Amazon 's Prime Video. The company announced Friday that its streaming service — a part of Prime subscriptions that cost $14.99 a month — will now have limited ads in its TV series and movies. Advertising on Prime Video, known for shows such as "The Boys" and "The Marvelous Mrs. Maisel," will roll out in the U.S. and other cities in early 2024, with other countries to follow later in the year. Prime Video will now join rival streaming services, including Netflix , Warner Bros. The company recently removed its cheapest, ad-free plan in a push to get more sign-ups for its ad option.

Persons: Maisel, Max Organizations: Netflix, Warner Bros, Disney, Media, Company Locations: U.S

☆ Saudi crown prince says he will keep 'sportswashing' as criticism of the practice grows
▼ + stars: | 2023-09-21 | by ( Drew Richardson | ) www.cnbc.com time to read: +4 min

Call it whatever you want, we're going to get that one and a half percent," the crown prince said. The Saudi Public Investment Fund (PIF), an entity controlled by Crown Prince Mohammed, has backed Saudi soccer clubs and LIV Golf. The LIV Golf merger with the PGA Tour has faced widespread scrutiny. Key U.S. lawmakers have criticized the pending golf merger as an attempt by the kingdom to distract from its human rights record. Prior to the deal, LIV Golf sued the PGA Tour for alleged anticompetitive practices, which prompted the PGA Tour to countersue, saying LIV Golf was stifling competition.

Persons: Saudi Arabian Crown Prince Mohammed bin Salman Al Saud, Prince Mohammed bin Salman, sportswashing, I'm, Critics, Jamal Khashoggi, Cristiano Ronaldo, Dustin Johnson, Bryson DeChambeau, LIV Golf, Crown Prince Mohammed, LIV, Osama bin Laden, It's, Sen, Richard Blumenthal, Conn, Jimmy Dunne, Ron Price, Price, Benjamin Freeman, — CNBC's Lillian Rizzo, Chelsey Cox Organizations: Saudi, Saudi Arabian Crown, Partnership, Global Infrastructure, Fox News, Washington Post, Neymar, PGA Tour, Saudi Public Investment Fund, Crown, Reuters, PGA, Key U.S, Homeland Security, Governmental Affairs, Tour, Quincy Institute, Responsible Locations: Saudi Arabian, New Delhi, India, Saudi, Europe, Saudi Arabia, Key, Yemen

Members of the Writers Guild of America (WGA) and the Screen Actors Guild walk the picket line outside of Fox Studios in Los Angeles, California, on August 9, 2023. Film and TV production ground to a halt 100 days ago when writers downed their pens, only to be joined on the picket lines in mid-July by actors. Writers and producers are near an agreement to end the Writers Guild of America strike after meeting face to face on Wednesday, people close to the negotiations told CNBC. While optimistic, the people noted, however, that if a deal is not reached the strike could last through the end of the year. This appears to be the closest the two sides have come to a resolution since the more than 11,000 film and TV writers went on strike beginning May 2.

Persons: Television Producers, — Organizations: Writers Guild of America, Screen, Fox Studios, CNBC, WGA, Alliance, Television, Hollywood Locations: Los Angeles , California

☆ Rupert Murdoch steps down as chairman of Fox and News Corp.
▼ + stars: | 2023-09-21 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +8 min

Rupert Murdoch is stepping down as chairman of the board of both Fox Corp. and News Corp. , the companies said Thursday. Lachlan Murdoch, one of his sons, will become sole chairman of News Corp. and will continue as Fox Corp.'s executive chair and CEO. At the time, Fox had opposed having the elder Murdoch — as well as other top Fox executives — appearing in person, citing his age. Since July 2022, Murdoch had worked from his home in Montana rather than going into Fox or News Corp. offices, according to a securities filing. News Corp. owns newspapers The Wall Street Journal and New York Post, among other publications, while Fox is the parent company of right-leaning TV networks Fox News and Fox Business.

Persons: Rupert Murdoch, Murdoch, Lachlan Murdoch, –, Joe Biden, Donald Trump, Murdoch's, Fox, Murdoch —, —, Fox wouldn't, Tucker Carlson, Marvin Davis, Michael Wolff's, Read, Lachlan Organizations: Fox Corp, News Corp, Voting Systems, Fox News, Fox, Wall Street, New, New York Post, Fox Business, News, Century Fox, Fox News Channel, Disney Locations: Dominion, Delaware, Montana, New York, Australian, Adelaide, Australia, Britain, U.S, cahoots

☆ Live sports are headed to Max, as Warner Bros. Discovery adds a new tier to streaming app
▼ + stars: | 2023-09-19 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

Sports are coming to Warner Bros. CNBC previously reported Warner Bros. Warner Bros. In May, the streamer was renamed Max after the parent company blended the content of HBO Max and Discovery+ apps together. The move came more than a year after the merger of Warner Bros. and Discovery.

Persons: Cody Bellinger, Louis, Tommy Edman, Max, David Zaslav, CNN Max Organizations: Los Angeles Dodgers, Louis Cardinals, Dodger, Sports, Warner Bros, TNT, TBS, Major League, NHL, NBA, CNBC, Max, HBO Max, AMC Networks, CNN, Company

☆ Disney plans to nearly double its investment in parks and cruises business
▼ + stars: | 2023-09-19 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +1 min

Disney said in a securities filing Tuesday it will nearly double its planned investment in its parks division to roughly $60 billion over the course of 10 years. Still, the company's domestic parks, particularly Walt Disney World in Florida, have seen a slowdown in attendance and hotel room occupancy. Disney will lean on its brands and intellectual property as it builds out its theme parks. The company planned to unveil more details about the investment at its investor day Tuesday. Disney highlighted the historical results of the parks and experiences business since 2017 on the back of heightened investment.

Persons: Disney, Bob Iger Organizations: Disney, Walt Disney Locations: Florida, Hong Kong, Paris, Tokyo, Shanghai

Legacy media companies like Disney , Warner Bros. Netflix was the first streamer to report a loss in subscribers in 2022, sending its stock and other media companies spiraling. Media companies also have begun slashing content spending budgets. Yet streaming remains the focus for all of these companies as consumers rapidly cut the cord and opt for streaming. Legacy media companies scrambled to follow suit, unsure if the model actually worked.

Persons: Mario Tama, it's, Steven Schiffman, NBCUniversal, Bob Iger, Ken Solomon, Solomon, Marc DeBevoise, John Hodulik, hasn't, —, Hulu —, Peacock, Max —, HBO Max, — Ryan Murphy, Shonda, Kenya Barris, David Benioff, Weiss —, Jonathan Miller, Shonda Rhimes, Presley Ann, Patrick McMullan, Bart Simpson, esports, DeBevoise, Peter Csathy Organizations: Netflix, Getty, North, Georgetown University, Legacy, Disney, Warner Bros, Discovery, Paramount, Media, Marvel, Tennis Channel, Sinclair, Companies, UBS, CBS, HBO, Max, Hulu, Integrated Media, Trek, Universal Studios Television, Getty Images Disney, Wars, Fox, Hollywood's, Creative Media, Charter Communications, ESPN, & $, + + Locations: Los Angeles, North American, J.J, Abrams, Kenya, Beverly Hills , CA, Georgetown

Senator Richard Blumenthal, D-CT, speaks during a Senate Judiciary Committee hearing on the January 6th insurrection, in the Hart Senate Office Building on Capitol Hill in Washington, DC, March 2, 2021. WASHINGTON — Bipartisan members of a Senate subcommittee on homeland security demanded transparency Wednesday from a Saudi Arabian investment fund at its second hearing on the controversial deal to merge PGA Tour and Saudi-backed LIV Golf. "Saudi Arabia's bid to buy professional golf in America is not just one investment in a vacuum," Sen. Richard Blumenthal, D-Conn., chairman of the Permanent Subcommittee on Investigations, said on Capitol Hill. Blumenthal announced that he had issued a subpoena on Wednesday to USSA International LLC, the PIF's wholly-owned U.S. subsidiary, for documents related to the PGA Tour-LIV Golf deal and other U.S. investments. A PGA Tour representative declined to comment.

Persons: Richard Blumenthal, LIV Golf, Sen, Conn, Blumenthal, LIV, Benjamin Freeman, Joey Shea, LIV didn't Organizations: WASHINGTON, Saudi, Investigations, Capitol, USSA, PGA, Quincy Institute, Responsible, United, Human Rights Watch Locations: Hart, Washington , DC, Saudi Arabian, Saudi, America, Saudi Arabia, China, Russia, United States, United Arab Emirates

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