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☆ Sports bettors may be getting bored with ESPN Bet, just 6 months after its head-turning rebrand from Barstool Sportsbook
▼ + stars: | 2024-05-14 | by ( James Faris | ) www.businessinsider.com time to read: +5 min

Sports bettors flocked to ESPN Bet after its mid-November launch. Taking 10% to 20% market share by 2027 no longer seemed like such a stretch — even in a crowded, competitive space. ESPN Bet's share of the online sports betting market has dipped in recent months. The gamble may be riskier than analysts thought, and it will be an outright disaster if ESPN Bet doesn't perform better than Barstool Sportsbook. Related storiesIn the first quarter, Penn's interactive segment headlined by ESPN Bet lost nearly $200 million on an adjusted basis.

Persons: —, Sports bettors, Penn, ESPN Bet doesn't, Shaun Kelley, hasn't, Kelley, BofA, ESPN Bet wouldn't, Bob Iger —, what's, Jay Snowden, We're, Snowden, That's, It's, that's Organizations: Service, ESPN, Penn Entertainment, Sports, ESPN Bet, Business, Bank of America, ESPN Bet's, Penn, Disney

☆ In the battle of Telegram vs Signal, Elon Musk casts doubt on the security of the app he once championed
▼ + stars: | 2024-05-13 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +8 min

Elon Musk once championed encrypted messaging app Signal, promoting its user privacy protections. Signal has been sharply criticized recently by a conservative activist and a rival app, Telegram. AdvertisementThe encryption wars brewing between the messaging apps Telegram and Signal have attracted the commentary of a high-profile critic: Elon Musk. In response to Rufo's post, Musk wrote cryptically, "There are known vulnerabilities with Signal that are not being addressed. Green, as well as Musk, Signal, and Telegram representatives, did not immediately respond to requests for comment from Business Insider.

Persons: Elon Musk, Musk, —, Elon, Pavel Durov, Durov, Tucker Carlson, Vladimir Putin, Jeff Bezos, Christopher Rufo —, Katherine Maher, Rufo, Maher, Edward Snowden, Meredith Whittaker, Whittaker, haven’t, IbXREWVaPL — Meredith Whittaker, @mer__edith, Jack Dorsey, — Elon, Johns Hopkins, Matthew Green, Green Organizations: Service, Fox News, NSA, Amazon, Elon, Telegram, Business Locations: Moscow

☆ Jack Dorsey defends Musk's Twitter leadership, saying the billionaire slashed the 'critical sin' of its business model
▼ + stars: | 2024-05-10 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

But Dorsey said Twitter had been weighed down by its revenue model. Twitter chose brand advertising as its main source of income, a "core, critical sin" that exposed the platform's moderation to the whims of corporations effectively financing the social-media platform, Dorsey said. Building a different business modelTo many, Musk seemed to be axing Twitter's entire business model. "Twitter was a $5 billion a year business," Dorsey said. AdvertisementDorsey's comments come as he quit Bluesky, a platform he helped build after leaving Twitter, and told users to use Musk's X instead.

Persons: —, Jack Dorsey, Dorsey, Mike Solana, Twitter, Solana, Apple, Musk, Elon, Bluesky, Edward Snowden, Julian Assange, he's, Musk's Organizations: Service, Twitter, Fund, Business, Unilever, SpaceX, Disney, IBM

☆ 'Baby Reindeer' viewers watched a stalking drama — then hunted down 'the real Martha Scott.' A psychologist explains why true crime turns us into armchair detectives.
▼ + stars: | 2024-05-09 | by ( Eammon Jacobs | ) www.businessinsider.com time to read: +8 min

A psychologist told Business Insider why true crime turns viewers into armchair detectives. True crime blurs the line between real life and fictionRichard Gadd as Donny Dunn in "Baby Reindeer." AdvertisementThat's further complicated by some true crime audiences thinking they are helping to bring about justice by becoming armchair detectives. AdvertisementIn a piece published by The Guardian, titled "Why do women love true crime so much?" Ed Miller/NetflixThis raises the question of whether streaming services and TV networks are doing enough to protect those involved in true crime content.

Persons: —, Donny Dunn, Richard Gadd, Martha, Gadd, Martha Scott, He's, Piers Morgan, Fiona Harvey —, TikTok sleuths, Sean Foley, Foley, — sean foley, @SeanFoleyJ, Nicola Bulley, Andrew Snowden, Ed Miller, Ruth Tully, Tully, Nancy Jo Sales, influencers, Jessica Gunning, " Gadd, Benjamin King, it's, King, Errol Lindsay, Jeffrey Dahmer's, Jeffrey Dahmer, Rita Isbell, Netflix should've Organizations: Service, Rotten, Google, Netflix, Daily Mail, Police, Lancashire's Police, The Guardian, European, Research, Business Locations: British

☆ It sure looks like Jack Dorsey's in his Elon Musk acolyte era
▼ + stars: | 2024-05-06 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

Jack Dorsey has gone from loving to hating to loving Elon Musk again. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementTwitter co-founder Jack Dorsey might have once been a critic of Elon Musk's changes to his creation. But all that seems to be water under the bridge now for Dorsey, who's now seemingly in his "I Love Elon" era. For starters, Dorsey unfollowed over 2,000 accounts on X over the weekend, leaving just three accounts — Elon Musk, NSA whistleblower Edward Snowden, and Stella Assange, the wife of Wikileaks founder Julian Assange.

Persons: Jack Dorsey, Elon Musk, Bluesky, Dorsey, —, Elon, who's, Dorsey unfollowed, Edward Snowden, Stella Assange, Julian Assange Organizations: Service, Twitter, NSA

☆ Former Twitter CEO Jack Dorsey is spilling tea all over the platform FKA Twitter and here's a possible reason
▼ + stars: | 2024-05-06 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +1 min

Jack Dorsey was very active on X this weekend. During a posting frenzy, he announced that he has left the Bluesky board. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . This story is available exclusively to Business Insider subscribers.

Persons: Jack Dorsey, Dorsey, —, Kendrick Lamar, Drake, Kenny, Julian Assange's, Stella Assange, Edward Snowden, Elon Musk, Bluesky, Drake's Organizations: Service, he's, Business

☆ Election Updates: With No Labels out of the race, the third-party picture comes into focus.
▼ + stars: | 2024-04-05 | by ( Reid J. Epstein | Michael Gold | ) www.nytimes.com time to read: +5 min

It follows comments from Mr. Kennedy this week suggesting that President Biden posed a greater threat to American democracy than Mr. Trump. The campaign described Mr. Assange as a “political prisoner” and asked supporters to sign a petition urging the United States to drop the charges against him. Particular attention has been paid to those rioters who have been held at the local jail in Washington. Mr. Trump has made this revisionist view of the events of Jan. 6 central to his campaign. Mr. Trump, who once sided with Mr. Assange over the conclusions of America’s intelligence services, had considered pardoning both Mr. Assange and Mr. Snowden — who fled into exile in Russia more than a decade ago — during his term in office.

Persons: Robert F, Kennedy Jr, Stefanie Spear, Kennedy’s, “, Ms, Spear, Donald J, Trump, Kennedy, Biden, Julian Assange, Assange, ”, doesn’t, Ed Snowden, ” Mr, Mr, Jan, Snowden, Snowden —, —, Michael Gold Organizations: Capitol, WikiLeaks, J6, D.C, CNN, Washington, NBC News, NBC Locations: Washington, American, United States, Russia, New York

☆ RFK Jr. campaign walks back fundraising emails that said January 6 defendants were stripped of constitutional liberties
▼ + stars: | 2024-04-04 | by ( Eva Mckend | Aaron Pellish | ) edition.cnn.com time to read: +3 min

“We must free Assange now!” the text in both fundraising messages reads. Kennedy campaign spokesperson Stefanie Spear told CNN that the language used in the fundraising emails was “an error” and that the campaign has terminated its contract with the vendor responsible. It was inserted by a new marketing contractor and slipped through the normal approval process,” Spear said in a statement. “(Trump) overthrowing — trying to overthrow the election clearly is threat to democracy,” Kennedy said on CNN’s “Erin Burnett OutFront” on Monday. Trump has said he would pardon a “large portion” of January 6 rioters if he’s reelected.

Persons: Robert F, Kennedy Jr, ”, overreach, Julian Assange, Assange, “, doesn’t, Ed Snowden, Donald Trump, Kennedy, Stefanie Spear, Spear, ” Spear, Joe Biden, Biden, —, ” Kennedy, “ Erin Burnett OutFront ”, I’m, Erin, ” Trump, Trump, he’s Organizations: CNN, Wednesday, WikiLeaks, Capitol, American Citizen, J6, Washington DC, Trump, Republican Locations: Washington

☆ Mark Coleman: Former UFC star ‘battling for his life’ after saving parents from house fire
▼ + stars: | 2024-03-13 | by ( Ben Morse | ) edition.cnn.com time to read: +2 min

CNN —Former UFC star Mark Coleman is “battling for his life” after saving his parents from a house fire in Ohio on Tuesday, his daughter said on Instagram. Morgan Coleman wrote that her father went back and forth into the house and was able to carry both of his parents from the fire and save their lives, before attempting to rescue a dog, Hammer, from the blaze. CNN has reached out to the Toledo Police, Fire Department and Coleman’s manager for comment for more details about the house fire and the former UFC fighter’s condition. He is and always will be a fighter,” Coleman’s daughter wrote. Coleman’s longtime friend and fellow former UFC fighter Wes Sims said on Facebook that Coleman is “currently intubated & sedated” in a hospital in Toledo, Ohio.

Persons: CNN —, Mark Coleman, Morgan Coleman, Morgan, “, Hammer, ”, Kenzie, Jonathan Snowden –, Coleman –, Coleman, it’s Mark, ” Snowden, Coleman’s, Wes Sims, ” Sims, Connie, Mark, ” Coleman Organizations: CNN, UFC, Toledo Police, Fire Department, Twitter, Facebook, of Fame, Ohio State Locations: Ohio, Toledo , Ohio, Barcelona, Spain

☆ Pentagon report says there are no UFOs or aliens but accepts popular beliefs will endure
▼ + stars: | 2024-03-09 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +4 min

A Pentagon report denies government cover-up of extraterrestrial activity. The report refutes claims of UFO sightings and supposed knowledge of alien existence. AdvertisementThe Pentagon released a report saying they'd found no evidence of UFO sightings or an alien cover-up. AARO found no evidence confirming unidentified anomalous phenomenon (UAP) as extraterrestrial technology — most were ordinary objects or misidentified phenomena. AdvertisementThe lack of conclusive evidence has fueled conspiracy theories, complicating efforts to address popular beliefs about UFOs and aliens.

Persons: —, they'd, AARO, Fan, Tommaso Boddi, Edward Snowden, Joe Rogan Organizations: Pentagon, Service, US, NSA

☆ Julian Assange’s Extradition and the Espionage Act Charges Against Him - The New York Times
▼ + stars: | 2024-02-19 | by ( James Kirchick | ) www.nytimes.com time to read: +2 min

Fourteen years ago, at a human rights conference in Oslo, I met Julian Assange. From the moment I encountered the wraithlike WikiLeaks founder, I sensed that he might be a morally dubious character. Though Mr. Assange insisted that his purpose was to expose American abuses, the leaks were also a boon to the Taliban and other authoritarian forces around the world. “Well, they’re informants,” Mr. Assange defiantly told them. In 2012, Mr. Assange hosted a talk show on RT (formerly Russia Today), the Kremlin-funded propaganda network that beams conspiracy theories and anti-Western narratives around the world.

Persons: I, Julian Assange, Assange, ” Mr, they’ve, Edward Snowden, Hillary Clinton Organizations: WikiLeaks, The Guardian, Russia Today, Kremlin, National Security Agency, Democratic Locations: Oslo, Israel, Iran, China, Russian, Russia, Moscow, Ukraine

☆ Audiobook of the Week: Liev Schreiber Reprises His Role as Martin Baron
▼ + stars: | 2024-02-02 | by ( Reeves Wiedeman | ) www.nytimes.com time to read: +1 min

COLLISION OF POWER: Trump, Bezos, and The Washington Post, by Martin Baron. Read by Liev Schreiber. Martin Baron did not become the most famous editor in American journalism because of his charisma. But like a shrewd editor, Baron smartly delegates the rest — to Liev Schreiber, who played Baron in the Oscar-winning 2015 movie “Spotlight,” about the Boston Globe reporters who broke open the sex abuse scandal in the Catholic Church. Baron offers up almost nothing about his personal life — fitting for a leading defender of journalistic “objectivity” — and Schreiber plays the story straight.

Persons: Martin Baron, Read, Liev Schreiber, ”, Baron smartly, Baron, Jamal Khashoggi, Edward Snowden’s, Hillary Clinton’s, Schreiber, Schreiber doesn’t, Alec Baldwin Organizations: Trump, Washington, Boston Globe, Catholic Church, Washington Post, Post, Baron

☆ Princess Diana's iconic engagement blouse was made from a ruined dress. Now, it's expected to sell for $100,000 — if not more — at an auction.
▼ + stars: | 2023-11-27 | by ( Samantha Grindell | ) www.businessinsider.com time to read: +5 min

Princess Diana wore a pink blouse in her engagement portrait in 1981. AdvertisementOne of Princess Diana's most iconic garments is being auctioned off. The auction house, Julien's Auctions, estimates that it will fetch between $80,000 and $100,000 when it sells. As of Monday, Diana's blouse has one bid for $80,000, and Julien's Auctions anticipates it could sell for as much as $100,000. In addition to the Emanuel blouse, the Julien's Auctions TCM Hollywood Legends auction will also feature a Jacques Azagury dress Diana wore on multiple occasions.

Persons: Diana, David, Elizabeth Emanuel, —, Princess Diana's, Charles, Lord Snowden, Princess Margaret, Alastair Grant, Audrey Hepburn, Greta Garbo, Elizabeth, Diana's, DANIEL LEAL, hadn't, David Levenson, Diana wasn't, Emanuel, Jacques Azagury, Princess Diana, Prince Charles, Jayne Fincher Organizations: Service, Vogue, Kensington Palace, AP, Julien's, TCM Hollywood, Business, mascara, Getty, Westminster Abbey, New, New York Historical Locations: Kensington, Westminster, Italy, Canada, New York

☆ ESPN's VP of sports betting shares his keys to success for ESPN Bet and an inside look into the partnership with Penn
▼ + stars: | 2023-11-17 | by ( Margaret Fleming | ) www.businessinsider.com time to read: +8 min

In other words, ESPN Bet has arrived. The companies announced in August their collaboration, with the operator selling its stake in Barstool Sports to rebrand Barstool Sportsbook as ESPN Bet. Screenshots from the ESPN Bet app. Providing easy transitions between the ESPN and ESPN Bet apps is a key focus to drive that metric, he added. — ESPN BET (@ESPNBet) November 10, 2023The move has given ESPN Bet an advantage on social media with 5.4 million followers on X, 2.7 million on Facebook, and 2.4 million on Instagram.

Persons: It's, Jay Snowden, Mike Morrison, Morrison, Scott Longley, DraftKings, Penn, Snowden, Jimmy Pitaro, Pitaro, I'm, cohesively we've, Keys, Fubo Sportsbook, Maxim Bet, it's Organizations: ESPN Bet, ESPN, Penn Entertainment, Sports, Business, Apple, Caesars, Penn, ESPN Penn, TheScore, Fox, Maxim, Yahoo, Walt Disney Company, ESPN BET, Facebook Locations: Penn, Las Vegas

☆ 6 ways ESPN's new sports betting app will leverage the network's talent and audience, from Pat McAfee to fantasy sports
▼ + stars: | 2023-11-10 | by ( Margaret Fleming | ) www.businessinsider.com time to read: 1 min

ESPN and Penn Entertainment gave on November 9 a first look at their new ESPN Bet app. Execs from both companies shared how the partnership will elevate each of their brands. Here are six ways Penn plans to leverage ESPN's brand and audience to elevate the sportsbook. ESPN and Penn Entertainment unveiled on November 9 a first look at their upcoming sports-betting app, ESPN Bet. Ahead of the app's November 14 launch, ESPN's vice president of sports betting and fantasy Mike Morrison and Penn's president and CEO Jay Snowden discussed at the ESPN Edge conference in New York how the sportsbook will leverage ESPN's iconic brand in hopes of shaking up the sports betting landscape and giving Penn an edge in the market.

Persons: Penn, Mike Morrison, Jay Snowden Organizations: ESPN, Penn Entertainment, ESPN Bet, ESPN Edge, Penn Locations: New York

☆ Long-serving US Democratic Senator Dianne Feinstein dead at 90
▼ + stars: | 2023-09-29 | by ( Will Dunham | ) www.reuters.com time to read: +7 min

Feinstein was a Washington trailblazer who, among other accomplishments, became the first woman to head the influential Senate Intelligence Committee. Feinstein joined the Senate in 1992 after winning a special election and was reelected five times, including in 2018, along the way becoming the longest-serving woman senator ever. Health issues slowed Feinstein late in her career, when she was the oldest senator at the time. She ran for governor in 1990, winning the Democratic primary but losing to Republican Pete Wilson in the general election. Feinstein then ran in 1992 for the Senate seat that Wilson had previously held, easily defeating the Republican appointed to the seat.

Persons: Sen, Dianne Feinstein, William Barr, Department's, Feinstein, Dianne, Francisco’s, Nancy Pelosi, Pelosi, George Moscone, Harvey Milk, Milk, Dan White, Ramsay Hunt, al, Osama Bin Laden, John McCain of, Edward Snowden, Republican George W, Bush's, Lindsey Graham, Donald Trump's, Amy Coney Barrett, Trump, Joe Biden's, She, Francisco's, Republican Pete Wilson, Wilson, Feinstein's, Bertram Feinstein, Richard Blum, Will Dunham, Susan Heavey, Scott Malone, Diane Craft, Jonathan Oatis Organizations: Committee, Democratic U.S, Washington trailblazer, Intelligence, Senate, U.S, Francisco's, of Supervisors, Moscone, Republicans, Health, Republican, CIA, AMERICA, National Security Agency, NSA, Capitol, Stanford University, San, Supervisors, Democratic, Thomson Locations: Washington , U.S, WASHINGTON, California, Washington, San Francisco County, Connecticut, United States, al Qaeda, Pakistan, John McCain of Arizona, Vietnam, America, Iraq, San Francisco

“We hit an obstacle with Google's contracts,'' Weinberg said in U.S. District Court in Washington. Google counters that it dominates the internet search market because its product is better than the competition. After a couple years, the company began positioning itself as a search engine that respects people’s privacy by promising not to track what users search for or where they have been. That's loose change for Google's parent company, Alphabet, which generated $283 billion in revenue last year. In court Thursday, Lehman said his best guess is that search engines will shift largely from relying on user data to relying on machine learning.

Persons: Gabriel Weinberg, Weinberg, DuckDuckGo, Edward Snowden, Eric Lehman, Department’s, Lehman, Baidu, Russia’s, Google’s, ’ ’, Judge Amit Mehta, Taylor Swift, Travis Kelce Organizations: WASHINGTON, Google, The U.S . Department of Justice, Apple, Verizon, MIT, Cambridge, Microsoft, NFL Locations: U.S, Washington, The, Pennsylvania

☆ American economic power is potent but unstable
▼ + stars: | 2023-09-08 | by ( Peter Thal Larsen | ) www.reuters.com time to read: +8 min

LONDON, Sept 8 (Reuters Breakingviews) - For the past 15 years, the iPhone has been a totem of U.S. economic power. If the country is cooling on the $2.8 trillion company, it’s a potent indicator of increasingly frosty relations with the United States. Perhaps most significantly, the U.S. government realised it could use the internet to spy on adversaries and the financial system to subdue them. The tendency of capitalism to produce a handful of giant companies, many of them headquartered in the United States, helped successive administrations exert their authority. A complete severing of economic links between China and the United States is hard to imagine.

Persons: Norman Angell, Thomas Friedman, Vladimir Putin, Edward Snowden, Henry Farrell, Abraham Newman, Johns Hopkins SAIS, Putin, Biden, ”, Farrell, Newman, Donald Trump, ” Farrell, Allen Lane, Jeffrey Goldfarb, Aditya Sriwatsav Organizations: Reuters, Apple, World Trade Organization, New York Times, National Security Agency, U.S . Treasury, Johns Hopkins, Georgetown University, WTO, Huawei, BNP, Biden Administration, Intel, U.S ., European, United, Thomson Locations: China, Beijing, United States, France, Russian, U.S, North Korea, Iran, New York, Washington, Sudan, Cuba, Ukraine, America, Russia, Germany, United, Europe

☆ Penn Entertainment beats profit estimates on rising demand for sports betting
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +1 min

Aug 9 (Reuters) - Penn Entertainment (PENN.O) reported a better-than-expected quarterly profit on Wednesday, as visitors return to its casinos and demand for online sports betting rises. Shares of the company rose ~15% in premarket hours. Sports betting is live in 34 states and Washington, D.C. and is legal but not yet operational in another four, according to the American Gaming Association. Revenue from Penn's "Interactive segment," which includes online sports betting, increased 66.2% in the second quarter ended June 30. Penn reported a net profit of 48 cents per share for the reported quarter, compared with expectations of 42 cents per share, as per Refinitiv data.

Persons: Walt Disney's, Jay Snowden, Penn, Aishwarya Jain, Shailesh Organizations: Penn Entertainment, Tuesday, ESPN, ESPN Bet, Sports, American Gaming Association, Revenue, Penn's, Thomson Locations: United States, Washington

☆ After divesting Barstool Sports, Penn Entertainment CEO says Dave Portnoy is the only 'natural owner' for the company long term
▼ + stars: | 2023-08-09 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Penn Entertainment CEO Jay Snowden told CNBC's Jim Cramer and CNBC's Contessa Brewer that the only natural owner of Barstool Sports was David Portnoy, who founded the company in 2003. Penn Entertainment, a gambling firm, announced Tuesday it would be divesting Barstool — selling the entity back to Portnoy — while entering a $1.5 billion deal with Disney 's ESPN to launch a betting sportsbook. "Dave Portnoy is the only natural owner for Barstool sports long term," Snowden said. Snowden explained that the company realized its product was quickly becoming outdated by having to rely on a third-party platform. The ESPN deal marks the first time the brand will be on a sports betting platform, known as ESPN Bet.

Persons: Jay Snowden, Jim Cramer, Contessa Brewer, David Portnoy, Portnoy —, Dave Portnoy, Snowden, Wednesday's, DraftKings Organizations: Penn Entertainment, Barstool Sports, Disney, ESPN, ESPN Bet

☆ PENN Entertainment CEO Jay Snowden sits down with Jim Cramer to talk ESPN partnership
▼ + stars: | 2023-08-09 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

PENN Entertainment CEO Jay Snowden sits down with Jim Cramer to talk ESPN partnership'Mad Money' host Jim Cramer and CNBC's Contessa Brewer sit down with PENN entertainment President and CEO Jay Snowden to talk PENN's new partnership with ESPN.

Persons: Jay Snowden, Jim Cramer, Contessa Brewer Organizations: PENN Entertainment, ESPN, PENN

☆ Dave Portnoy is the only natural owner for Barstool Sports long-term, says PENN CEO Jay Snowden
▼ + stars: | 2023-08-09 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDave Portnoy is the only natural owner for Barstool Sports long-term, says PENN CEO Jay Snowden'Mad Money' host Jim Cramer and CNBC's Contessa Brewer sit down with PENN entertainment President and CEO Jay Snowden to talk PENN's new partnership with ESPN.

Persons: Dave Portnoy, Jay Snowden, Jim Cramer, Contessa Brewer Organizations: Barstool, PENN, ESPN

☆ ESPN Enters Sports Gambling in $2 Billion Deal With Casino Company
▼ + stars: | 2023-08-08 | by ( Kellen Browning | More About Kellen Browning | ) www.nytimes.com time to read: +1 min

ESPN on Tuesday announced a 10-year deal with Penn Entertainment, a casino company, to create an online sports betting brand called ESPN Bet, catapulting the sports entertainment network into the lucrative world of online gambling. Penn will operate the online sports book and pay ESPN $1.5 billion in cash for the use of ESPN’s name, marketing, “access to ESPN talent” and other promotional tools, Penn said in a news release. Penn will also give ESPN options to buy $500 million in Penn stock, the news release said. Jimmy Pitaro, the chairman of ESPN, said in the news release that he believed ESPN’s strong brand, combined with Penn’s technology and experience running a sports book, provided a “tremendous opportunity to serve the ever-growing number of consumers interested in betting.”Jay Snowden, Penn’s chief executive, called the deal “transformative” and said it would help Penn continue to evolve into a “North American entertainment leader.”

Persons: Penn, Jimmy Pitaro, ” Jay Snowden, ” Organizations: ESPN, Tuesday, Penn Entertainment, ESPN Bet, Penn Locations: Penn, American

☆ Penn Entertainment to create ESPN Bet, sells Barstool back to David Portnoy
▼ + stars: | 2023-08-08 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +1 min

New York CNN —Casino owner PENN Entertainment has dropped Barstool, the sports website, agreeing to a $2 billion dollar deal with ESPN to create ESPN Bet. The online Barstool Sportsbook will be rebranded as ESPN Bet in the fall, PENN said in a statement Tuesday. It secured exclusive rights to the ESPN Bet trademark for 10 years, with an option to be extended for another 10. To get out of some its “non-compete and other restrictive covenants” with Barstool, PENN sold all of its Barstool common stock to the sports site’s founder, David Portnoy. PENN completed its acquisition of Barstool in February, after buying an initial 36% stake of Barstool Sports in 2020.

Persons: PENN, Jay Snowden, David Portnoy, ”, Portnoy, it’s, ” Portnoy, “ Penn, ” PENN, “ Organizations: New, New York CNN — Casino, PENN Entertainment, ESPN, ESPN Bet, Penn, Twitter, Barstool Sports, Barstool Locations: New York, Barstool

☆ Biden admin believes hack gave China insights into US thinking ahead of Blinken’s crucial Beijing visit
▼ + stars: | 2023-07-13 | by ( Kylie Atwood | ) edition.cnn.com time to read: +4 min

The hack – which Microsoft said was launched in mid-May – was discovered by the State Department right around the time of Blinken’s visit to Beijing, officials said. Still, it provided the Chinese government with additional knowledge from the private discussions of US officials heading into Blinken’s visit. Another target of the hack, Commerce Secretary Gina Raimondo is also expected to soon visit China. Blinken “raised” the issue of the hack in a meeting with top Chinese official Wang Yi in Indonesia on Thursday, a senior State Department official said. On Wednesday State Department Spokesperson Matt Miller said that the department had “detected anomalous activity” in June.

Persons: CNN —, Biden, Antony Blinken’s, –, Edward Snowden, Charlie Bell, Blinken, Gina Raimondo, Blinken “, Wang Yi, “, Wang, Matt Miller, ” Miller Organizations: CNN, State Department, Microsoft, FBI, National Security Agency, NSA, The State Department, Wednesday State Locations: Beijing, China, Blinken’s, Indonesia

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