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☆ Priscilla Sims Brown: CNBC Changemakers for Women's History Month
▼ + stars: | 2024-03-26 | by ( ) www.cnbc.com time to read: 1 min

The women named to the CNBC Changemakers list are creating a pattern of what it takes to defy the odds, innovate and thrive in a volatile business landscape. From startup founders to S&P 500 C-suite growth drivers, from personalities shaking up the media industry to figures taking women's sports further into the mainstream, the 2024 Changemakers have broken new ground and set the stage for others to follow. Click here to view the inaugural list and continuing coverage for Women's History Month.

Organizations: CNBC

The House on Wednesday passed a bill with broad bipartisan support that would force TikTok’s Chinese owner to either sell the hugely popular video app or be banned in the United States. The move escalates a showdown between Beijing and Washington over the control of technologies that could affect national security, free speech and the social media industry. Republican leaders fast-tracked the bill through the House with limited debate, and it passed on a lopsided vote of 352-65, reflecting widespread backing for legislation that would take direct aim at China in an election year. The action came despite TikTok’s efforts to mobilize its 170 million U.S. users against the measure, and amid the Biden administration’s push to persuade lawmakers that Chinese ownership of the platform poses grave national security risks to the United States.

Organizations: Republican, Biden Locations: United States, Beijing, Washington, China

☆ The Juggernaut promised to revolutionize South Asian news. But insiders say the company's founder misled investors, struggled to raise money, and left workers 'heartbroken.'
▼ + stars: | 2024-03-05 | by ( Katie Warren | ) www.businessinsider.com time to read: +33 min

They were gathered for the inaugural summit of The Juggernaut, a digital South Asian news startup that launched in 2019. The Juggernaut spokesperson told BI that "multiple employees have equity in the company," but BI was unable to identify any such employees. "Twenty years ago, you might've struggled to mention a South Asian actor that you've seen in a movie," he said. As of January, the site had about 10,500 subscribers, Sur told investors in an email viewed by BI. Some feel that the publication has strayed from its mission of delivering "untold, smart South Asian stories and news you won't find anywhere else."

Persons: —, Richa Moorjani, Manish Chandra, Anish Melwani, Sadiq Khan, Amitav Ghosh, Roy Rochlin, Jay Bhattacharya, didn't, Sur, Padma Lakshmi, Moorjani, Mira Nair, Oprah Winfrey, she'd, who've, Josh Benson, Bhattacharya, might've, you've, Dev Patel, Priyanka Chopra, Black millennials, Bhattacharya's, Adam Hansmann, Kevin Lin, Albert Ni, Charles Hudson, Steve Jennings, Sur's, Kyle Stanford, Axios, Stanford, Snigdha, Winfrey, MICHAEL TRAN, hadn't, wouldn't, Fariha Róisín, Meghna Rao, Róisín, Rao, Rao didn't, they'd, she's, it's, Hudson, who'd, Reetu Gupta, Aditi Shah, Sean Gupta, Steven Simione, would've, we're, Brian Morrissey, Morrissey, cofounders, Narendra Modi's, Sneha Mehta Organizations: Spring Studios, Netflix, Business, New Yorker, Harvard Business School, Guardian, American, Old Town Media, Athletic, BI, Indian, Yale, McKinsey, Precursor Ventures, Forbes, Getty, TechCrunch, YouTube's Sustainability, YouTube, Paramount Pictures Studios, Immigration Services, Stanford, Digiday, Gannett Locations: York City, chai, Jean's, hasn't, Sur, New York City, South, Asian, India, Madhya Pradesh, Queens, Sur texted, Indian American, AFP, Róisín, Los Angeles , California, South Asia, Silicon

Microsoft is accusing The New York Times of "unsubstantiated" claims in the publisher's lawsuit filed in December against OpenAI, a case that could have major implications for the future of generative artificial intelligence. In a motion to dismiss part of the suit on Monday, Microsoft said the Times presented a false narrative of "doomsday futurology" in which OpenAI's ChatGPT chatbot will decimate the news business. "In this case, The New York Times uses its might and its megaphone to challenge the latest profound technological advance: the Large Language Model," attorneys for Microsoft wrote. In its lawsuit, the Times accused OpenAI and Microsoft of copyright infringement and abusing the newspaper's intellectual property in training LLMs. A New York Times spokesperson didn't immediately respond to a request for comment.

Persons: Microsoft Corporation Satya Nadella, OpenAI, didn't Organizations: Microsoft Corporation, Economic, Microsoft, New York Times, OpenAI, Times, The New York Times Locations: Davos, Switzerland, OpenAI

☆ These are the 2024 CNBC Changemakers: See the full list of women transforming business
▼ + stars: | 2024-02-28 | by ( Cnbc.Com Staff | ) www.cnbc.com time to read: +1 min

Women in leadership are reaching a level of success that is not only exceptional but highlights novel approaches to old business problems and identification of new market opportunities. The women named to the inaugural CNBC Changemakers list are creating a pattern of what it takes to defy the odds, innovate and thrive in a volatile business landscape. Make no mistake: There is still a distinct need for more coverage of innovative women leaders, and more support from the capital markets. Women leaders are still rare — they're less than 10% of S&P 500 CEOs, while women founders draw about 2% of venture capital dollars. By focusing on women who left an indelible mark on the economy and business world in 2023, CNBC Changemakers recognizes the accomplishments of names in the news and many who have flown under the radar.

Organizations: CNBC, CNBC Changemakers

☆ How the Media Industry Keeps Losing the Future
▼ + stars: | 2024-02-28 | by ( David Streitfeld | ) www.nytimes.com time to read: +1 min

If the career of Roger Fidler has any meaning, it is this: Sometimes, you can see the future coming but get trampled by it anyway. Thirty years ago, Mr. Fidler was a media executive pushing a reassuring vision of the future of newspapers. The digital revolution would liberate news from printing presses, giving people portable devices that kept them informed all day long. But the traditional media that Mr. Fidler was championing do not receive much benefit. Sometimes it is about recently formed digital enterprises, sometimes venerable publications whose history stretches back more than a century.

Persons: Roger Fidler, Fidler

Berenberg increased its price target on Eli Lilly on the back of expected strong sales of its weight loss drug, Zepbound. The firm kept its $21 price target, saying shares are "ready to inflect" with hardware cost deflation and investment tax credit boosting growth. Danely's $820 price target on the buy-rated blockbuster chipmaker suggests 3.6% potential upside for shares since Monday's close. — Pia Singh 5:38 a.m.: Berenberg hikes Eli Lilly price target Eli Lilly has been on a tear this year, and Berenberg expects even more gains from here. Analyst Kerry Holford reiterated his buy rating on the stock and raised his price target to $850 from $680.

Persons: Berenberg, Eli Lilly, John Hodulik, Hodulik, — Pia Singh, Wells, Steven Cahall, Cahall, ROKU, Fred Imbert, BofA Evercore, James West, Christopher Danely, Danely, Goldman Sachs, Edward Jones, James Shanahan, Goldman, Marcus, Apiro Dounls, Sunoco, Kerry Holford, Holford, Zepbound Organizations: CNBC, pharma, Nvidia, Citi, Sunoco, NuStar Energy, Netflix, UBS, Vizio, CTV, ISI, BofA, BofA Evercore ISI, Bank of America, Micron Technology, NuStar, SUN Locations: Wells, Sunrun, Monday's

☆ Kara Swisher warns news organizations need to ‘reinvent’ themselves amid existential crisis
▼ + stars: | 2024-02-27 | by ( Oliver Darcy | ) edition.cnn.com time to read: +9 min

We spoke to Swisher on Monday to get her insight on some of the challenges facing the media and tech landscape today. And they didn’t anticipate that these tech companies were going to get into media. If so, why haven’t legacy media companies been able to lure in top tech talent to improve their products? Media companies do not get to live by the same anti-gravity rules that tech companies have been able to. But media companies didn’t offer the same kind of upside.

Persons: New York CNN — Kara Swisher, ” Swisher, Swisher, it’s, BuzzFeed, they’ve, Steve Jobs, Rupert Murdoch, “, Donald Trump’s, Joe Biden’s, It’s, You’ve, Elon Musk, Bill Ackman, I’m, Elon, Tyler Perry, Sora, everyone’s, Adrian Chen, …, AllThingsD, Uber, We’ve, haven’t Organizations: New York CNN, Craigslist, . Media, Big Tech, New York Times, Harvard, The New York Times, Google Locations: New York

☆ Warner Bros. Discovery posts a much narrower loss than a year ago
▼ + stars: | 2024-02-23 | by ( Chris Isidore | ) edition.cnn.com time to read: +1 min

Discovery is no exception – and though it lost far less money in the final quarter of 2023 than in the same period a year earlier, its loss was still wider than expected. The company, which owns CNN among other media properties, reported a net loss of $400 million, down from the $2.1 billion it lost a year earlier. That brought its full-year loss to $3.1 billion, just less than half of the $7.4 billion it lost in 2022. But its loss of 16 cents a share in the quarter was worse than the 10-cent-a-share loss forecast. That was also an improvement from the $217 million loss it reported a year earlier.

Organizations: New, New York CNN, Warner Bros, CNN, Global, Warner Bros . Locations: New York

☆ Vice’s New Owners Prepare to Slash What’s Left of Its Work Force
▼ + stars: | 2024-02-22 | by ( Benjamin Mullin | More About Benjamin Mullin | ) www.nytimes.com time to read: +1 min

Executives at Vice Media are planning to lay off hundreds of more than 900 employees over the next week, eliminating staff from its digital publishing division, according to three people familiar with the matter. Over the past half-decade, Vice has had near annual layoffs and mounting losses, and has filed for bankruptcy, making it the poster child for the battered digital-media industry. When Vice emerged from bankruptcy last year, some observers hoped its new owners — a consortium led by the private-equity firm Fortress Investment Group — would reinvest to return the company to growth. Instead, Fortress has decided to make sweeping cuts, as part of an attempt to stem the endless tide of red ink. The company is planning to inform employees of its new business strategy in the next week.

Organizations: Vice Media, Fortress Investment, Fortress

☆ Vice to lay off hundreds of staffers, stop publishing content on its website
▼ + stars: | 2024-02-22 | by ( Oliver Darcy | ) edition.cnn.com time to read: +3 min

Ahead of the announcement Thursday, the mood inside Vice Media was grim. Vice Media, once a high-flying digital media startup valued at billions of dollars, has struggled immensely in recent years. The radical strategic shift announced by Dixon effectively marked the end of Vice Media as the industry has known it. Once held up as the future of the business, Vice Media has rapidly contracted over the last 12 months, ending several news programs and laying off staffers. Vice Media joins a long list of digital publishers that have announced painful layoffs in recent months.

Persons: Bruce Dixon, ” Dixon, Dixon, ”, Shane Smith, Nancy Dubuc, BuzzFeed Organizations: CNN —, Media, CNN, Vice Media, Fortress Investment Group, “ Locations: “

☆ As online romance scams rise, banks ask for help to save victims billions
▼ + stars: | 2024-02-13 | by ( Eamon Javers | ) www.cnbc.com time to read: +6 min

The banking industry is seeking help from the federal government and the social media industry to stop an escalating crisis that's costing Americans billions of dollars every year: online romance scams. These digital crimes have proliferated since the pandemic, as criminals pose as attractive partners and reach out to lonely Americans on social media. "We need the social media companies to shut down these people that are putting these out there. The romance scams are run by organized criminal gangs, often based in Southeast Asia, that set up phony social media avatars and use those to connect to potential American victims. Erin West, deputy district attorney in Santa Clara County, California, estimated that between $30 billion and $50 billion was lost to romance scams in 2022.

Persons: Paul Benda, Benda, I've, Scammers, We're, We've, Banks, Erin West, they'd, there's, Bria Cousins Organizations: American Bankers Association, CNBC Locations: Southeast Asia, Santa Clara County , California

☆ Why America loves the NFL
▼ + stars: | 2024-02-08 | by ( Emily Stewart | ) www.businessinsider.com time to read: +6 min

One, sports fans will go to great lengths (including piracy) to find the content they're looking for. The NFL has done, I think, a really good job of continuing to evolve their product to make it as TV-friendly as it can be. Brian Fuhrer, senior vice president at NielsenThe NFL also benefits from the deference that networks show the league. Broadcast's core audience is typically older, so when NFL games come on in the fall it draws younger viewers back in. But even if things aren't as good for the NFL, they're still going to be pretty good — and a lot better, ratings-wise, than anything else.

Persons: NBCUniversal, Peacock, Taylor Swift, Travis Kelce, reelect Biden, Brian Fuhrer, you've, Singer, They're, Jon Lewis, Patrick Mahomes, Josh Allen, Lamar Jackson, Chiefs —, Lewis, Will Smith's, Ray Rice, Donald Trump, they're, Emily Stewart Organizations: NFL, Kansas City Chiefs, Baltimore Ravens, AFC, Chiefs, Miami Dolphins, Football, Nielsen, NBA, MLB, Sports Media Watch, Buffalo Bills, Detroit Lions, Ravens, Business

☆ Netflix has a stranglehold on its competition, but the streaming wars aren't over. Here's how Disney and Amazon could dethrone the dominant streamer.
▼ + stars: | 2024-02-05 | by ( James Faris | ) www.businessinsider.com time to read: +8 min

"Netflix won the streaming wars in 2009 when they started streaming," said Tim Nollen, a media analyst at Macquarie. "I think it's a little bit ridiculous, to be honest," Bazinet said when asked if Netflix has won the streaming wars. AdvertisementHow Hollywood can beat Netflix at its own gameHollywood stalwarts can compete in streaming, Bazinet argued — provided the media industry first consolidates even further. The two biggest threats right now are Disney — which has about 220 million subscribers across Disney+, Hulu, and ESPN+ — and Amazon. Nollen said Amazon would flood the market with cheap ads and crush its competition like it did in e-commerce.

Persons: —, That's, Jason Bazinet, Tim Nollen, They've, Bazinet, overreacted, Jessica Reif Ehrlich, Reif Ehrlich, Nielsen Bazinet, Joe Bonner, Bonner, John Hodulik, Hodulik, I'm, Macquarie's, Nollen, it's Organizations: Service, Netflix, Business, Citigroup, Disney, Paramount, Macquarie, Hollywood, Bank of America, Nielsen, ESPN, Argus Research, Hulu, UBS, Amazon Locations: Hulu

☆ I am very sad for the NYPD's useless and purgatory-bound subway robot
▼ + stars: | 2024-02-02 | by ( Sophie Kleeman | ) www.businessinsider.com time to read: +3 min

But now the NYPD robot has been placed in purgatory — a barren shopfront — and I am no longer laughing. According to The New York Times, K5 has been removed from its post in the Times Square subway station, where it required constant guardianship from human police officers. "The robot for the police, or the police for the robot?" ⁦@danarubinstein⁩ and ⁦@HurubieMeko⁩ on the sad fate of the NYPD robot. Similarly, the NYPD told me that K5 "has completed its pilot deployment in the NYC subway system."

Persons: Eric Adams, @HurubieMeko⁩, ezsZJ3mgWc — Maria Cramer, @NYTimesCramer, I, it's Organizations: New York City, NYPD, The New York Times, Times, City Hall, Yankees Locations: NYC

☆ I founded a company in Singapore in my 20s. Then I realized it was the perfect time in my life to walk away — so I did.
▼ + stars: | 2024-02-01 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +4 min

This as-told-to essay is based on a conversation with Cheah Wenqi , the 28-year-old cofounder of a Singapore-based media company. I was in my third year at Nanyang Technological University in Singapore when I cofounded a media company with three friends. Some of the videos we worked on for our class went viral, which is when we started thinking about creating our own platform. In my final years with the company, I headed the product growth and development team and worked on developing our YouTube page. After around five years on the job, I started thinking about what's next.

Persons: Cheah Wenqi, I, what's, Cheah, TikTok, Instagram, I'm Organizations: Nanyang Technological University, Central Locations: Singapore, Japan, China, Central Asia

☆ The Messenger to Close After Less Than a Year
▼ + stars: | 2024-01-31 | by ( Benjamin Mullin | ) www.nytimes.com time to read: +1 min

The Messenger, a news website that pledged to shake up the media industry with a playbook borrowed from the doomed publishing start-ups of yesteryear, will be closing down. In an email to staff, the site’s founder, Jimmy Finkelstein, said that The Messenger’s shutdown was “effective immediately.”“This is truly the last thing I wanted, and I am deeply sorry,” Mr. Finkelstein wrote. By closing less than a year after it launched, The Messenger will now be one of the biggest busts in the annals of online news. And its collapse is the most substantial blow in recent months to the news industry, which is reeling from an unrelenting series of cutbacks. The organization hired about 300 people, including journalists with experience at such publications as Politico, Reuters, NBC News and The Associated Press, who joined the company in the hopes that it would deliver on its promise to introduce an important new nonpartisan voice to the American news landscape.

Persons: Jimmy Finkelstein, Mr, Finkelstein Organizations: Politico, Reuters, NBC News, Associated Press

☆ Joel Embiid Wants the African Diaspora to Flourish Onscreen
▼ + stars: | 2024-01-30 | by ( Emmanuel Morgan | ) www.nytimes.com time to read: +1 min

Joel Embiid knew as early as his rookie season in the National Basketball Association that he eventually wanted to enter the media industry. Seven years later, he is now at the pinnacle of the sport — the league’s reigning most valuable player, Embiid set a Philadelphia 76ers record last week by scoring 70 points in a game — and is ready to take on that new challenge. Embiid, 29, who moved from Cameroon to the United States as a teenager, has created a production studio, Miniature Géant, that he hopes will amplify the culture of his home continent. The studio intends to profile athletes and entertainment figures of African descent, with an initial goal of selling content to streaming services. “We’re dabbling in a lot of different spaces, but the common denominator is Africa and the joys and the quest of African people and the African diaspora,” said Sarah Kazadi-Ndoye, who is the studio’s lead creative executive and was born in the Democratic Republic of Congo.

Persons: Joel Embiid, Embiid, ”, Sarah Kazadi Organizations: National Basketball Association, Philadelphia 76ers, Democratic Locations: Cameroon, United States, Africa, Democratic Republic of Congo

☆ The WWE knew Vince McMahon was a liability. So why did it bring him back after his scandalous departure?
▼ + stars: | 2024-01-29 | by ( Kyle Feldscher | David Goldman | ) edition.cnn.com time to read: +8 min

CNN —WWE’s parent company knew Vince McMahon — the founder of the wrestling behemoth — was a potential liability. That risk was realized Thursday when a former WWE employee accused McMahon of sexual assault and trafficking in a disturbing and graphic lawsuit. The company said McMahon has since repaid the company about $20 million for misappropriated corporate funds and for the legal fees TKO and WWE paid to investigate McMahon. Vince McMahon, Jr., was more akin to a king than a business executive in the world of WWE, his fingerprints on everything. “I have pledged my complete cooperation to the investigation by the special committee, and I will do everything possible to support the investigation,” McMahon said in a statement at the time.

Persons: Vince McMahon, —, McMahon, ”, Janel Grant, behemoth McMahon, “, Nick Khan, McMahon’s, Donald Trump’s, Donald J, ” McMahon, McMahon, — Vince McMahon, Vince McMahon’s, Stephanie, Jr, reinstalling, Stephanie McMahon —, Khan, What’s, Grant, CNN’s Sam Delouya, Elizabeth Wagmeister Organizations: CNN, WWE, Companies, US Securities and Exchange Commission, SEC, Wall Street, Trump Foundation, UFC, Endeavor, Securities and Exchange Commission

☆ Business Insider Laying Off 8% of Staff
▼ + stars: | 2024-01-25 | by ( Katie Robertson | More About Katie Robertson | ) www.nytimes.com time to read: 1 min

Business Insider said on Thursday that it was laying off 8 percent of its staff, the latest in a wave of sharp job cuts in the media industry this month. Barbara Peng, Business Insider’s chief executive, said in an internal note that the job cuts were part of a plan, announced late last year, to shift focus solely to news coverage of business, tech and innovation. “We have already begun to refocus teams and invest in areas that drive outsize value for our core audience,” Ms. Peng wrote. “Unfortunately, this also means we need to scale back in some areas of our organization.”Ms. Peng added: “We’re committed to building an enduring and sustainable Business Insider for the coming years and beyond.”

Persons: Barbara Peng, ” Ms, Peng, “, Ms, “ We’re, ”

☆ Paramount CEO announces layoffs as cost pressures, take-private talks build
▼ + stars: | 2024-01-25 | by ( Sara Salinas | In Saracsalinas | ) www.cnbc.com time to read: +2 min

Paramount CEO Bob Bakish announced layoffs at the media company Thursday, citing a need to "operate as a leaner company and spend less." Paramount did not immediately disclose how many jobs the company would cut. The company reports quarterly earnings at the end of February and plans to elaborate on its 2024 strategy then. The cuts come as a range of companies in the media industry and beyond announce layoffs while they push to trim costs. The layoffs also come as David Ellison's Skydance Media explores a deal to take Paramount private, CNBC reported Wednesday.

Persons: Bob Bakish, Bakish, David Ellison's Skydance Organizations: Paramount, Los Angeles Times, Business, Sports, CNBC, Hollywood, CNBC PRO

☆ Meta's retreat from news accelerated in 2023, leaving publishers scrambling for traffic
▼ + stars: | 2024-01-22 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +14 min

At Mother Jones, a 48-year-old nonprofit magazine specializing in politics and investigations, the implications were dramatic. "The firehose of Facebook traffic was never going to pay for our journalism, for the majority of our journalism," Bauerlein said. Last decade, many publishers saw their "social traffic decline pretty dramatically," with Facebook deprioritizing text-based articles in favor of video content, Cholke said. "If we all end up finding news in the metaverse, then you'll be finding Mother Jones in the metaverse," she said. What Mother Jones won't do, she said, is "bet everything on one platform, because that never works out."

Persons: Mark Zuckerberg, Sen, John Kennedy, Bill Clark, Reuters Mother Jones, Monika Bauerlein, Mother Jones, Meta, Donald Trump, Bauerlein, Jill Nicholson, Nicholson, Zuckerberg, David Carr, Carr, We've, Meta hasn't, It's, Similarweb, Sam Cholke, John S, Adams, Jonah Peretti, " Peretti, Jessica Probus, BuzzFeed's, BuzzFeed, Probus, Cholke, that's, Chartbeat's Nicholson, Mathew Ingram, Facebook, Ingram, Pew, Elisa Shearer, influencers, Jones Organizations: Facebook, Reuters, Mother, CNBC, Google, Meta, Daily, Comcast, Vice Media, Institute for Nonprofit News, Texas Tribune, Montana Free Press, The Texas Tribune, Institute for Nonprofit, Longtime, Columbia Journalism, Pew Research Center, Pew Locations: Washington, France, Germany, Australia, Helena, American

☆ CNN chief Mark Thompson outlines his plan to transform the network for the future: ‘It’s time for a revolution’
▼ + stars: | 2024-01-18 | by ( Oliver Darcy | ) edition.cnn.com time to read: +6 min

New York CNN —Mark Thompson, on his 100th day as CNN’s new leader, sent his 4,000-person strong workforce a 2,300-word memo that said both a lot and very little at the same time. Thompson began his manifesto by referencing how CNN’s founder, Ted Turner, revolutionized the news by introducing a 24/7 live-feed on cable television. That group, colloquially known internally as “The Quad,” is comprised of Virginia Moseley, executive vice president of editorial; Amy Entelis, executive vice president of talent; Eric Sherling, executive vice president of programming; and David Leavy, chief operating officer. Mike McCarthy, who has for years led CNN International, will become managing editor of CNN, reporting to Moseley, Thompson said. “Change is essential if we’re to secure this great news company’s future,” Thompson wrote.

Persons: Mark Thompson, Thompson, Ted Turner, ”, “, ” Thompson, CNN “, Chris Licht, Virginia Moseley, Amy Entelis, Eric Sherling, David Leavy, Moseley, Mike McCarthy, Alex MacCallum, —, CNN —, MacCallum, it’s, Ted Turner’s Organizations: New York CNN, CNN, CNN International, New York Times, ” Locations: New York

☆ An upgrade, a 'top pick' and a potential deal: 3 of our stocks make news Tuesday
▼ + stars: | 2024-01-16 | by ( Paulina Likos | ) www.cnbc.com time to read: +6 min

We're taking a closer look at a few of our stocks in the headlines on Tuesday: Starbucks, Constellation Brands and Walt Disney. The firm said it is looking beyond the current quarter, noting that Starbucks is "underearning vs its potential." Constellation Brands News: Bernstein named Constellation Brands its top pick for 2024 in a Tuesday research note. That's why a potential partnership that would give equity ownership of ESPN to a professional sports league would be so interesting. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Walt Disney, Morgan Stanley, Bernstein, Jim, Bob Iger, Wells Fargo, Nelson Peltz, Jim Cramer's, Jim Cramer, Spencer Platt Organizations: Starbucks, Constellation Brands, Walt, Modelo, Disney, ESPN, National Football League, New York, NFL Media, NFL Network, Players Association, NFL, Netflix, CNBC, People, Starbucks Workers United, Getty Locations: Israel, China, Corona, Pacifico, New, New York City

☆ Ad industry veteran John Nardone and PE firm GTCR are hunting for acquisitions to build the next big adtech rollup
▼ + stars: | 2024-01-12 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +3 min

A little over two years after selling adtech company Flashtalking to Mediaocean for $500 million , John Nardone is on the hunt for his next big adtech exit, he confirmed to Business Insider. Private equity firm GTCR is poised to be the financial sponsor on such a deal. Nardone intends to become CEO of the roll-up company and expects to bring on his own management team. Days before the agreement closed, "Vista swooped in and stole the deal," Nardone said. Before Flashtalking, Nardone sold the adtech company [x+1] to fellow adtech firm Rocket Fuel for around $230 million , and he helped take the digital marketing and research company Modem Media public.

Persons: John Nardone, Mediaocean, GTCR, Nardone, Innovid, — Innovid, Stephen Master, GTCR's Organizations: Business, Vista Equity Partners, Media Locations: Mediaocean, —

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