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☆ How Group Black's $500 million promise to Black-owned media unraveled
▼ + stars: | 2024-07-24 | by ( Lucia Moses | Lara O'Reilly | ) www.businessinsider.com time to read: +16 min

Montaque cofounded Group Black in 2021 with the goal of directing $500 million in advertising money to Black-owned media in its first 18 months. With the pledge, Group Black laid out a plan to steer money to Black media owners and acquire media companies. Bough, Group Black's chief strategy officer, was a former Mondelēz and PepsiCo marketer who presented the CNBC reality show "Cleveland Hustles." Various outlets reported that Group Black mounted bids for media companies including the Sports Illustrated publisher Arena Group, the Paramount-owned BET, Vice Media, and Vox Media. Seven former employees described Montaque as an energetic leader but said he was ultimately ineffective in executing Group Black's mission.

Persons: Travis Montaque, Weeks, Montaque, Bonin, Black, George Floyd, Breonna Taylor, Richelieu Dennis, Dennis, Ursula M, Burns, Randy Brooke, Ursula Burns, Seth Kaufman, Moët Hennessy, Gamble, Ziff Davis, offsites, Gamble —, Spokespeople, Derrick Johnson, Lionel Hahn, Todd Brown, It's, Christopher Kenna, I'm, Samantha Skey, Black's Travis Montaque, Arturo Holmes, Vivek Shah, Bough, Sheila Marmon, Media's Refinery29, Erika Goldring, Richelieu Dennis who's, Kirk McDonald, GroupM Organizations: Black, Cannes Lions, Business, Black's, SHE, Cola, Walmart, PepsiCo, CNBC, Xerox, Getty, Moët Hennessy North America, Procter, Gamble, NAACP, Urban Edge Network, Corporate America, Association of National Advertisers's Alliance, Inclusive, Multicultural, Diversity Media, Penske Media Corp, Zeta, Fox, Everyday Health, Sports, Arena Group, Paramount, BET, Vice Media, Vox Media, Galore Media, Mirror, Marmon, Media Locations: GroupM, America, Soho, Manhattan, Santa Monica, Cannes

☆ 'Longlegs' isn't based on a true story, but it has a surprising connection to one famous murder
▼ + stars: | 2024-07-19 | by ( Caralynn Matassa | ) www.businessinsider.com time to read: +7 min

Part of its viral marketing also included a website about the so-called "Birthday Murders," styled like a throwback '90s webpage. AdvertisementA website about the fictional Birthday Murders created by Neon. The Birthday Murders website looks like any number of actual true-crime forums frequented by people who like to talk about and dissect unsolved murders. The 'Longlegs' director says his movie's dolls were inspired by a small detail in JonBenét Ramsey's murder caseFBI agent Lee Harker investigates the Longlegs murders. In the ending of "Longlegs," Longlegs is revealed to be a Satan-loving dollmaker who handcrafts life-sized dolls that look just like the daughters of each family he kills.

Persons: Nicolas Cage, Oz Perkins, Lee Harker, Maika Monroe, who's, Lee, Ed, Lorraine Warren, it's, Longlegs, Ruth Harker, Ruth, Ruby, Carter's, Perkins hasn't, NEON Perkins, Perkins, Gus Van Sant, Anthony Perkins, Norman Bates —, James George Frazer, JonBenét, JonBenét Ramsey, Ramsey, ciphered Organizations: Service, FBI, Business, Collider, Longlegs, Lambs Locations: Boulder , Colorado

☆ Media network Group Black faces a leadership in flux
▼ + stars: | 2024-07-06 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

All in all, Group Black said it planned to deploy $500 million in Black-owned media by the end of 2022. Some brands have provided updates on their commitments since, but gains by Black-owned media companies have been uneven overall. Group Black's idea was to help steer ad dollars to its member companies and use some of the ad dollars to buy stakes in media companies. It listed among its founding member companies Essence, which is part of Dennis' company, Sundial Media; podcast company Pod Digital Media; and lifestyle media company She Media. Various outlets also reported that Group Black sought to acquire stakes in media companies including Sports Illustrated publisher Arena Group and Vox Media.

Persons: —, Travis Montaque, Montaque, Montaque hasn't, Kerel Cooper, Dan Bisgeier, Delida Costin, Mike Owen, Ryan Robertson, Marchelle Wright, Ashley Banks, Cooper, Holler, Richelieu Dennis, Bonin, Black, George Floyd, Breonna Taylor, Ursula Burns, Fortune, Seth Kaufman, Moët Hennessy, Dennis Organizations: Service, Business, Black, Xerox, Moët Hennessy North America ., Media, Pod Digital Media, Sports, Arena, Vox Media Locations: Black

☆ Judge approves NAR settlement on broker commissions
▼ + stars: | 2024-04-24 | by ( Samantha Delouya | ) edition.cnn.com time to read: +2 min

On Tuesday, Judge Stephen Bough granted preliminary approval to the $418 million antitrust settlement in a Missouri court. Housing experts say the settlement may effectively demolish the current real estate business model. Under the terms of settlement, which was announced in March, sellers’ agents will no longer be required to offer commissions to buyers’ agents. While the settlement does not explicitly spell the end of the traditional 6% commission, split between the seller’s agent and the buyer’s agent, commissions are expected to fall because they will become competitive and negotiable. If sellers are no longer paying buyers’ agents, homebuyers may be on the hook to pay their broker directly.

Persons: Stephen Bough, Matt Hanley, ” Hanley, “ I’m Organizations: CNN, National Association of Realtors, NAR, homebuyers Locations: United States, Missouri, Minnesota

☆ How to get the biggest bang for your buck while investing in dividend-paying stocks
▼ + stars: | 2024-01-29 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +5 min

As attractive as today's yields may look on certain dividend-paying stocks, they only tell part of the story when you're choosing names for income. Lower interest rates make other income-generating assets, including dividend-paying stocks, more attractive compared to the risk-free yields on Treasurys. Dividend stocks took their lumps during 2022 as the Fed embarked on its rate hikes – consider that the Vanguard Dividend Appreciation ETF (VIG) posted a total return of negative 9% in 2022 – and rate-sensitive income stocks in the utilities and real estate sector suffered. Check with your brokerage to make sure you have dividends reinvested as your preference for individual stocks and ETFs. Picking the right names Dividend investors are seeing 2024 as a potential rebound year for these stocks, anticipating a broadening rally.

Persons: Michael Arone, Dow, VIG, would've, Grace Lee, –, Dow Jones, Arone, Chris Hayes Organizations: SPDR, State, Federal, Dow Jones, Fed, Vanguard, CNBC Pro, IBM, Columbia, Opportunity, Walgreens, Alliance

Five players from Canada's 2018 world junior team have taken a leave of absence from their current clubs in recent days amid a report that five members of that team have been asked to surrender to police to face sexual assault charges. The NHL Players' Association declined to comment. In the meantime, members of the organization, including Flyers players, will not be commenting any further. Hockey Canada has made wholesale changes after a scathing independent report and lost major sponsors in the nearly two years since this and other scandals emerged. Nike last year permanently ended its partnership with the organization after earlier pausing it, along with other sponsors, given the heavy criticism of Hockey Canada leadership.

Persons: Michael McLeod, Cal Foote, Carter Hart, Dillon Dube, Alex Formenton, Formenton, McLeod, Foote, Sandasha Bough, Daniel Briere, “, Bill Daly, Daly, ” Daly, Hart's, Briere, ” Briere, “ We’re, ”, Lindy Ruff, Dube, Dillon, ” Formenton, Scott Smith, Dan Gelston, John Wawrow, ___ Organizations: NHL, New Jersey Devils, Philadelphia Flyers, Calgary Flames, Flyers, Swiss, HC Ambri, Devils, NHL Players, Association, Hockey Canada, Globe &, London Police, The Associated Press, Associated Press, London police, Flames, Ottawa Senators, Switzerland's National, Hockey, Nike, AP, AP Hockey Locations: Europe, Swiss, Canada, London , Ontario, Toronto, Detroit, Colorado, Newark , New Jersey, Hockey Canada, Voorhees , New Jersey, Buffalo , New York

☆ A Threat to the American Way of Real Estate
▼ + stars: | 2023-12-01 | by ( ) www.wsj.com time to read: +1 min

A sign advertises a home for sale in Washington, Aug. 23. Photo: Michael Reynolds/Zuma PressRecent antitrust developments and potential regulatory changes could reshape the U.S. real-estate landscape, making the American dream a potential nightmare (“A Big Legal Defeat for the Realtors,” Review & Outlook, Nov. 1). In Missouri, U.S. District Judge Stephen Bough found that settlements in the first of numerous antitrust class actions are “fair, reasonable and adequate.” We agree, and we welcome improvements that enhance commission transparency, ensure an open marketplace and maintain a framework that ensures agents are representing the interests of both the seller and the buyer. Overreach beyond these rules—as contemplated in some quarters—may jeopardize one of the pillars of fair transactions: buyer agency. This risks leaving the next wave of home buyers navigating the financial decision of a lifetime without professional support.

Persons: Michael Reynolds, Stephen Bough Organizations: Realtors, ”, District Locations: Washington, In Missouri, U.S

The 300 volunteers were divided into eight teams, each named for a different Santa’s reindeer. The transformation — praised by Jill Biden, the first lady, as a result of “hard work and painstaking attention to detail” by the droves of volunteers — resulted in a holiday-themed White House overflowing with historical touches. No matter the administration, turning the White House complex into a wonderland is a feat that relies on donated materials and the time of volunteers. Here are a few numbers behind this year’s display. 200: Age of ‘’Twas the Night Before Christmas’When planning began this spring, Dr. Biden told her team that she wanted visitors to experience the décor through the eyes of a child.

Persons: Jill Biden, ’, Biden Organizations: House, Cross Locations: Nantucket

☆ The S&P 500 is in a historic bubble and could crash by 63%, markets guru John Hussman warns
▼ + stars: | 2023-10-17 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Stocks are in a historic bubble and could crash by over 60%, John Hussman says. The markets guru says the S&P 500 looks very expensive and is priced to yield negative returns. He cautioned that virtually every market cycle in history has ended with projected S&P 500 total returns returning to historical norms. Hussman noted the S&P 500 is priced today for a negative return over the next 10 to 12 years. The markets guru said stocks won't necessarily crash, but "when the bough breaks, my sense is that it may break abruptly."

Persons: John Hussman, Hussman, Jeremy Grantham, —, Buckle, GMO's Jeremy Grantham Organizations: Service, Investment, Federal

Richelieu Dennis, left, and Bonin Bough are two of the co-founders of Group Black, which has been exploring an acquisition of Vice Media for several months. Group Black, a company that aims to invest in and grow Black-owned media firms, has submitted a bid to acquire beleaguered Vice Media for around $400 million, according to people familiar with the situation. Vice has received other bids for the entire business as well as pieces of its business, people familiar with the matter said. The company hopes to wrap up the bidding process in the next few days, the people said.

☆ Cathie Wood's ARK Invest keeps buying more crypto assets despite FTX bankruptcy
▼ + stars: | 2022-11-15 | by ( Jesse Pound | ) www.cnbc.com time to read: +2 min

Cathie Wood's Ark Invest is not backing away from cryptocurrency after a steep drop in prices and the collapse of FTX. The Ark Next Generation ETF bough 315,259 shares of the Grayscale Bitcoin Trust on Monday. There is no pure-play bitcoin ETF, and the Grayscale vehicle is seen as a proxy to gain exposure to the most popular cryptocurrency. The Next Generation Internet ETF is down 61% year to date, and the flagship Ark Innovation ETF (ARKK) is down nearly 49%. The Next Generation Internet ETF has seen outflows of more than $500 million this year.

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