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☆ Red Lobster is bringing back a beloved menu item after emerging from bankruptcy
▼ + stars: | 2024-11-12 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Hush puppies, once a staple on Red Lobster’s menu, are coming back. “I expect a stampede into our restaurants because we’re bringing back the hush puppies,” he jokingly added. Also new on the menu are bacon-wrapped scallops, a lobster bisque, a lobster pappardelle and a Parmesan-crusted chicken dish. Red Lobster is also “crafting a new tartar sauce that brings back all the flavors” from its original recipe, according to its Facebook account. CNN has reached out to Red Lobster for additional details.

Persons: Damola Adamolekun, ”, Adamolekun, ” —, haven’t, “, ” Adamolekun, isn’t Organizations: New, New York CNN, NBC News, CNN, Boomers, Fortress Investment Group Locations: New York

Red Lobster is turning to millennial leadership to bring in younger guests, which the chain needs after closing more than 100 of its 640 restaurants earlier this year. Red Lobster has since emerged from bankruptcy, ushering in a new era for the once-major seafood chain. But the deal was costly for Red Lobster — the company lost $11 million from that promotion alone, according to court documents. Thai Union announced in January that it would begin a complete exit from Red Lobster. Now, Red Lobster is trying to balance keeping its loyal customers while trying to shake its stodgy image to attract younger ones.

Persons: who's, Adamolekun, Hottovy, Read, Jim Salera, Fortress, Caitlin Daniel, isn't Organizations: Fortress Investment, NBC, Stephens, Thai Union, Harvard University Locations: Placer.ai

☆ This startup for traders raised $30 million from investors including Stanley Druckenmiller and Greg Coffey. Here's how it plans to transform how Wall Street analyzes data.
▼ + stars: | 2024-10-28 | by ( Bianca Chan | ) www.businessinsider.com time to read: +6 min

Reflexivity is a startup cofounded by two former hedge fund traders. AdvertisementA startup looking to transform how investors and traders use data just received funding from some of the biggest names in the hedge fund world. Reflexivity, formerly known as Toggle AI, just raised its $30 million Series B, the startup announced Monday. Interactive Brokers and Greycroft led the round, which included participation from billionaire investor Stanley Druckenmiller and Greg Coffey, the Australian founder of hedge fund Kirkoswald. AdvertisementIt has a valuation between $115 million and $150 million, Szilagyi said.

Persons: —, Greycroft, Stanley Druckenmiller, Greg Coffey, Izzy Englander, Reflexivity, Jan Szilagyi, Szilagyi, George Soros, Giuseppe Sette, Howard, Wells, Szilyagyi, that's Organizations: Service, Interactive, Millennium, Catalyst, P, Business, Druckenmiller's Duquesne Capital Management, Fortress Investment Group, Millennium Management, Soros Fund, London Stock Exchange Group, Federal Reserve Locations: Australian, MUFG, Fargo, Wells Fargo

☆ Stocks making the biggest moves midday: SoFi, Caterpillar, SiriusXM, Boeing and more
▼ + stars: | 2024-10-14 | by ( Pia Singh | In | ) www.cnbc.com time to read: +2 min

Check out the companies making headlines in midday trading: SoFi Technologies — Shares of the online personal finance company jumped 9.8% after SoFi announced a $2 billion agreement with Fortress Investment Group to grow its loan platform business. Crypto stocks — Stocks tied to cryptocurrencies surged as bitcoin gained more than 5% to top $66,000. Ibotta — Shares advanced 5.5% after Goldman Sachs upgraded Ibotta, a mobile platform that offers cash-back rewards, to buy from neutral. Flutter Entertainment — The online gambling stock rose 4% after Wells Fargo upgraded shares to overweight from equal weight, urging investors to buy the recent dip. Caterpillar — The industrial stock fell 1.7% after Morgan Stanley downgraded shares to underweight from equal weight.

Persons: SoFi, Warren Buffett's Berkshire Hathaway, Stocks, cryptocurrencies, bitcoin, AppLovin, Goldman Sachs, Goldman, Wells, Morgan Stanley, Eli Lilly's, —, Alex Harring, Brian Evans, Samantha Subin, Yun Li, Lisa Kailai Han, Pia Singh, Michelle Fox Organizations: Fortress Investment Group, Sirius XM Holdings, Berkshire, Sirius, Mara Holdings, Boeing, Walmart, of America, Caterpillar, U.S . Food, Drug Administration Locations: U.S

☆ Red Lobster is a mess. Here’s why the new 35-year-old CEO wanted the job anyway
▼ + stars: | 2024-10-04 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +10 min

Red Lobster's new chief executive Damola Adamolekun during an interview with CNN at a Red Lobster in Long Island, New York, last week. CNNIn Springfield, he first ate at a Red Lobster with his parents and two siblings after church one Sunday. Red Lobster was where he, like millions of Americans, experienced eating lobster and cracking crab legs for the first time. Beyoncé sang about taking a romantic partner to Red Lobster in her 2016 hit song “Formation.”After Red Lobster filed for bankruptcy, Flava Flav ordered the whole menu to try to save the company. Red Lobster closed more than 100 restaurants this year, including a location in Orlando, Florida, shown this year.

Persons: Damola Adamolekun, “, ” Adamolekun, It’s, ”, Adamolekun, Bill Darden, Mills, Chris Rock, Nicki Minaj, Beyoncé, Flav, “ Mr, ” —, Kevin Lamarque, Clarence Otis Jr, RJ Hottovy, Hottovy, Adamolekun’s, ” Hottovy, ’, Red, Phelan M, can’t, John Paulson, Paulson, P.F, Chang’s, Morgan McClure, Fortress, ” McClure, Brandon Bell, isn’t Organizations: New, New York CNN, CNN, Fortress Investment, Fortress, Red, Boomers, Darden, Thai Union Group, Former Red Lobster, Thai Union, As Thai Union, Thai, Brown University, Harvard Business School, Paulson & Co Locations: New York, Long, , New York, Nigeria, Zimbabwe, Netherlands, Springfield , Illinois, United States, Long Island , New York, Springfield, America, Alexandria , Virginia, Olive, Thai Union, Thai, Orlando , Florida, P.F, Chang’s, Columbia , Maryland, New York City, Scottsdale , Arizona, Austin , Texas

☆ Red Lobster cleared to exit Chapter 11 bankruptcy protection
▼ + stars: | 2024-09-05 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

The exterior of a Red Lobster restaurant in Austin, Texas, on May 20, 2024. A bankruptcy court approved Red Lobster's plan to exit Chapter 11, putting the seafood chain one step closer to exiting bankruptcy. Red Lobster had struggled with increased competition, expensive leases, last year's disastrous shrimp promotion and a broader pullback in consumer spending. Current CEO Jonathan Tibus, who led the company through bankruptcy, will leave Red Lobster. "This is a great day for Red Lobster," Adamolekun said in a statement.

Persons: Damola Adamolekun, Jonathan Tibus, Adamolekun Organizations: Investor Holdings, Holdings, TCW, Fortress Investment Group Locations: Austin , Texas, Canada

☆ The Hard-Partying Lawyers Who Get Negligent Companies to Pay Billions
▼ + stars: | 2024-09-05 | by ( Jack Newsham | ) www.businessinsider.com time to read: +23 min

In 2023, mass-tort lawyers spent $152 million on TV ads and millions more on social media. The data provider X Ante estimated that in 2023, mass-tort lawyers spent $152 million on TV ads and millions more on social media. The decades that followed mass torts' onset on the national stage showed the big risks and big rewards of mass torts. AdvertisementIn a class action, a settlement is public, and the judge has to approve the lawyers' fees. But others are confident that indebted mass-tort lawyers can bounce back from a few bad bets.

Persons: Mike Papantonio, Pap, Johnson, Paul Cody, Bayer, Chris Seeger, audibles, Budd, Ness Motley, Motley Rice, South Carolina —, doling, Seeger, Wyeth, Phil Federico, Paul Hanly who'd, Federico, Lejeune, who've, Camp Lejeune, mack, Curt Miner, I've, Don Worley, Worley, —, Daniel A, Mark Lanier, wouldn't, Elizabeth Chamblee Burch, Burch, Ellen Relkin, Merck, Vioxx, There's, Lucian Pera, Keller Postman, Jeremy Troxel, Keller, Troxel, Michael McDonald, Warren Postman, Postman, Kelsey Vlamis, Jack Newsham Organizations: Wynn, Vegas, Camp Lejeune, pharma, Supreme, X, Pfizer, Defense, Marines, Veterans, Foreign, US Marine Corps, Johnson, University of Georgia, Business, Intuit, Rihanna, Morning Investments, Fortress Investment, Gramercy Funds, Deepwater, Investments Locations: Camp, Texas, South Carolina, Baltimore, North Carolina, Camp Lejeune, America, Beverly Hills , California, nonbanks

☆ Lionsgate Financing Partner Breaks Down Film and TV Funding Venture
▼ + stars: | 2024-08-28 | by ( Lucia Moses | ) www.businessinsider.com time to read: +3 min

Film and TV investor Content Partners just announced a new financing arm at a time when some institutional investors are fleeing Hollywood. It kicked off with a deal providing debt financing to Media Capital Technologies to support its backing of Lionsgate's film slate. Content Partners Capital (CPC) is targeting up to five deals a year of up to $100 million each in debt financing for film and TV companies. Lordo said Content Partners saw a void to help entertainment companies that are stuck in a financing bind, unable to get bank or private-equity backing. The era of Peak TV is over: Big entertainment companies have reduced spending as streaming hasn't made up for losses in linear TV.

Persons: there's, Alphonse Lordo, Lordo, they've, Mark Cuban, Todd Wagner, It's Organizations: Service, Content Partners, Media Capital Technologies, Lionsgate, Starz, Business, Content Partners Capital, CPC, Truist Securities, Partners, Monroe, Fortress Investment Group, Media, Revolution Studios, CSI television Locations: Hollywood

Edgar Bronfman Jr. walked away from his bid for Paramount after the company's special committee demanded his consortium submit a final offer Monday, according to people familiar with the matter. Bronfman dropped his 11th hour bid just a week after the media executive made an initial offer of $4.3 billion for Shari Redstone's National Amusements, the controlling shareholder of Paramount. Bronfman said last week in a letter to the Paramount special committee that he had rounded up 19 financial backers, as first reported by The Wall Street Journal. Spokespeople for Bronfman, Skydance and the Paramount special committee declined to comment. The special committee said late Monday the go-shop period was now over.

Persons: Edgar Bronfman Jr, Bronfman, Centerview, David Ellison's Skydance, Shari Redstone's, Skydance, Spokespeople, Bronfman's, RedBird Capital Partners — Organizations: Paramount, Centerview Partners, David Ellison's Skydance Media, Bronfman's, Fortress Investment Group, BC Partners, Wall Street, wouldn't, RedBird Capital Partners

☆ $20 billion Balyasny trims its top Asia stock-picker's book so she can focus on building the hedge fund in the region
▼ + stars: | 2024-07-11 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +3 min

Read previewBalyasny Asset Management has cut back the portfolio of its Asia equities head, but not because of poor performance. This story is available exclusively to Business Insider subscribers. Related storiesBalyasny, the $20 billion multistrategy firm based in Chicago, parted ways with its global equities head, Jeff Runnfeldt, last October. AdvertisementBalyasny, the founder, has been running the equities unit since Runnfeldt's departure, adding talent — such as Point72's Peter Goodwin — and reviewing existing books. The firm has made 5.5% through the first half of the year, Business Insider recently reported, trailing peers like Citadel, Point72, and Millennium.

Persons: —, Archana Parekh, Dmitry Balyasny, Parekh, Jeff Runnfeldt, Runnfeldt, Peter Goodwin —, Andrew O'Connor, Weiss, David Lohman, Marco Minoli, Anil Gondi, Balyasny, Stephen Schurr, She's, Will Brant, Robert Tau Organizations: Service, Management, Balyasny, Business, Fortress Investment, Citadel, Walleye, Bloomberg Locations: Asia, Chicago, Schonfeld, LMR, — Singapore, Hong Kong, Tokyo, Balyasny's Hong Kong, Point72

☆ Sony Pictures is buying Alamo Drafthouse
▼ + stars: | 2024-06-12 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +1 min

New York CNN —Sony Pictures Entertainment has bought dine-in movie theater chain Alamo Drafthouse, the companies announced Wednesday. Sony said in a press release that the movie theater chain will be managed under a new division, Sony Pictures Experiences. While other Hollywood studios have jumped into streaming, Sony Pictures CEO and chairman Tom Rothman has expressed his commitment to movie theaters, according to various trade publications including The Hollywood Reporter. Sony Pictures touted its other spaces in the press release, such as Wonderverse, an immersive entertainment space, in Chicago and a Wheel of Fortune LIVE! Sony acquired Alamo from owners Altamont Capital Partners, Fortress Investment Group and founder Tim League.

Persons: Michael Kustermann, Ravi Ahuja, Tom Rothman, “, Tim League Organizations: New, New York CNN, Sony Pictures Entertainment, Alamo, Business, Sony, Sony Pictures, SPE, Hollywood, Hollywood Reporter, Altamont Capital Partners, Fortress Investment Group, Fest Locations: New York, Austin , Texas, Chicago

☆ Sony Pictures is buying Alamo Drafthouse theater chain
▼ + stars: | 2024-06-12 | by ( Sarah Whitten | ) www.cnbc.com time to read: +2 min

Sony Pictures has acquired Alamo Drafthouse, the seventh-largest movie theater chain in North America, the company announced Wednesday. Alamo Drafthouse CEO Michael Kustermann will remain at the helm of the dine-in movie theater chain and will report to Ravi Ahuja, president and CEO of the newly formed Sony Pictures Experiences division. The company's 35 cinemas will continue to be operated by Alamo Drafthouse and its headquarters will remain in Austin, Texas. The acquisition comes after Alamo Drafthouse filed for Chapter 11 bankruptcy protection in 2021 due to Covid-19 pandemic disruptions. "We are excited to make history with Sony Pictures Entertainment and have found the right home and partner for Alamo Drafthouse Cinema," said Kustermann.

Persons: Walter Reade, Michael Kustermann, Ravi Ahuja, Alamo Drafthouse, Ahuja, Tim League Organizations: Sony Pictures, Alamo, Department, Paramount, Warner Bros, Century Fox, MGM, Universal, United Artists, Columbia Pictures, Sony, Walter Reade Organization, Lowes, Disney, El Capitan Theatre, Netflix, Egyptian, New York's, Altamont Capital Partners, Fortress Investment Group, Sony Pictures Entertainment Locations: North America, Columbia, New York's Paris, Austin , Texas, Texas

☆ Red Lobster Isn't Nearing Bankruptcy Because of Endless Shrimp
▼ + stars: | 2024-05-01 | by ( Emily Stewart | ) www.businessinsider.com time to read: +9 min

While Red Lobster increased traffic somewhat, people coming in to chow down on all-you-can-eat shrimp was a money bleeder. But the story about what's gone wrong with Red Lobster is much more complicated than a bunch of stoners pigging out on shrimp (and, later, lobster) en masse. Red Lobster first opened in Lakeland, Florida, in 1968 and was acquired by the food conglomerate General Mills in 1970. "What's truly happened with Red Lobster is that the consumer base has changed and Red Lobster hasn't," he said. "Red Lobster isn't losing to a competitor in their space — they're losing to competitors outside their space."

Persons: It's, what's, Jonathan Maze, Mills, General Mills, Olive, Darden, Red, Eileen Appelbaum, isn't, they've, it's, Keith Bedford, Darren Tristano, John Gordon, Kim Lopdrup, Red Lobster's, He's, Jonathan Tibus, Gordon, Tristano, You've, Emily Stewart Organizations: Bloomberg, Restaurant Business, Olive Garden, LongHorn, Darden, Golden Gate, American Realty, Lobster, Center for Economic, Policy Research, Thai Union, Seafood Alliance, Thai, Fortress Investment Group, Reuters, Business Locations: chow, Lakeland , Florida, San Francisco, Thai, Thailand, Thai Union, Golden, San Diego

☆ Macy's proxy fight is over, but the battle for the department store's future wages on
▼ + stars: | 2024-04-13 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +7 min

Arkhouse then launched its proxy fight and put forward nine nominees to Macy's 15-person board. Turning the tideOther department store chains have faced challenges from activists in recent years, and even when those efforts fall short, the pressure can bring about sweeping changes. That includes Macy's locations with stronger sales as well as its two chains that have outperformed the namesake brand, higher-end department store chain Bloomingdale's and beauty chain Bluemercury. Arkhouse claims Macy's refused to engage with it, and Macy's rebuffed Arkhouse saying it didn't have the financing for the takeover it proposed. Arkhouse, for its part, has said it plans to keep Macy's stores open.

Persons: Bing Guan, Tony Spring, Arkhouse, Neil Saunders, Macy's, Michelle Gass, Levi Strauss, Chip Bergh, Ben Hider, —, GlobalData's Saunders, It'll, Gavriel Kahane, Kahane, it's Organizations: Macy's Inc, National Retail Federation, Bloomberg, Getty, Arkhouse Management, Capital Management, American, Brigade, Levi, Herald, Sears, CNBC, Macy's, Fortress Investment Group, One Investment Management Locations: Herald, New York, Macy's, New York City

☆ Real estate has not bottomed yet, predicts Fortress Investment Group co-CEO
▼ + stars: | 2024-03-19 | by ( ) 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 EmailReal estate has not bottomed yet, predicts Fortress Investment Group co-CEODrew McKnight, Fortress Investment Group co-CEO & managing partner, joins 'Fast Money' to talk the real estate and banking spaces and why he believes commercial real estate is still a big problem for banks.

Persons: Drew McKnight Organizations: Fortress Investment Group

☆ Student Housing Pioneer Faces Angry Investors, Irate Judges and a $115 Million Bill
▼ + stars: | 2024-03-18 | by ( Matthew Goldstein | ) www.nytimes.com time to read: +1 min

Patrick S. Nelson is a man under siege. An early player in the off-campus student housing business, Mr. Nelson built his property management company by raising money from big lenders and hundreds of wealthy individuals. But his business has soured in recent years, and Mr. Nelson — who has so far reneged on promises to pay back some of those partners — now faces more than a dozen lawsuits and a dogfight with a private equity firm. Mr. Nelson is on the hook for at least $115 million, which he has not paid despite escalating fines and interest and twice being held in civil contempt by judges over the alleged misuse of company money. His defiance has frustrated investors and lenders, and irritated some of the judges hearing those disputes.

Persons: Patrick S, Nelson, Nelson —, —, “, Melissa Crane, Justice Crane Organizations: Fortress Investment Group Locations: New York County, Utah, California

☆ Arkhouse bid for Macy's nears diligence, but activist to continue proxy fight
▼ + stars: | 2024-03-14 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

A bid from Arkhouse Management and Brigade Capital to take retailer Macy's private has moved closer to due diligence after weeks of delay, but the activist group plans to continue its proxy fight while negotiations progress. Macy's sent the activist a draft confidentiality agreement earlier this week, after months of meetings and engagements between the two sides, Arkhouse said in a proxy filing Thursday. The proxy filing and exhibits show that as the deadline to launch a proxy fight neared, Arkhouse asked Macy's in February to extend its nominating window to "avoid any heightened tension that may accompany" launching a rival slate. The two sides have been negotiating the terms of the agreement this week, the proxy filing shows. In light of the proxy fight and media reports, Gennette said Macy's board was "puzzled by your request for confidential treatment."

Persons: Macy's, Arkhouse, Jeff Gennette, Gennette Organizations: Arkhouse Management, Brigade Capital, Brigade, Fortress Investment Group, One Investment Management, Macy's Inc Locations: New York City, Arkhouse

☆ Activist Investor’s Group Raises Bid for Macy’s
▼ + stars: | 2024-03-03 | by ( Lauren Hirsch | Jordyn Holman | ) www.nytimes.com time to read: +1 min

The activist investor group that is seeking to buy Macy’s increased the pressure on the department store chain on Sunday, raising its offer and disclosing additional details about its financing plans. Arkhouse Management and Brigade Capital Management said in a news release that they were now offering $24 per share, valuing the retailer at $6.6 billion. The new offer is up from the $21 a share they last put forward and a 33.3 percent premium to Macy’s closing share price of at $18.01 on Friday. Arkhouse and Brigade named additional investors they had brought on as equity partners, Fortress Investment Group and One Investment Management. The investor has since nominated nine people to Macy’s board.

Persons: Arkhouse Organizations: Arkhouse Management, Brigade Capital Management, Brigade, Fortress Investment Group, One Investment Management Locations: Macy’s

☆ The hollowing out of Vice and BuzzFeed marks the end of the digital media revolution
▼ + stars: | 2024-02-23 | by ( Oliver Darcy | ) edition.cnn.com time to read: +5 min

New York CNN —The digital media revolution is over. Its two leaders, Vice Media and BuzzFeed , are in a frenetic retreat, surrendering much of their online empires as they try to protect what remains of their core assets. The demise of Vice Media as we know it is a particularly hard pill to swallow. Ahead of the announcement, the mood inside Vice Media was grim. Dixon said in his note that Vice Media had determined it was “no longer cost-effective” for the company to distribute its digital content on its own.

Persons: “, ”, they’re, I’m, Bruce Dixon, Benjamin Mullin, Dixon, Shane Smith Organizations: New York CNN, Vice Media, Media, Big Tech titans, Fortress Investment, Sports Locations: New York

☆ 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: “

☆ Vice Media will stop publishing on its website and lay off hundreds. Read the memo its CEO sent to staff.
▼ + stars: | 2024-02-22 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

Read previewVice Media is in the process of shutting down its website and shifting focus to its studio, which will involve laying off hundreds, CEO Bruce Dixon wrote in a staff memo Thursday. Vice is also in the process of selling the woman-aimed site Refinery.com, which it acquired in 2019, Dixon wrote. In addition to its flagship Vice.com, Vice Media operates Vice Studios, a film and TV production business; and ad agency Virtue. However, it is no longer cost-effective for us to distribute our digital content the way we have done previously. Separately, Refinery 29 will continue to operate as a standalone diversified digital publishing business, creating engaging, social first content.

Persons: —, Bruce Dixon, Dixon, Vice.com, Shane Smith, Bruce Organizations: Service, Business, Fortress Investment, Vice Media, Vice Studios, Employees

☆ 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

The U.S. Court of Appeals for the Federal Circuit reversed the jury's 2021 verdict that Intel infringed one VLSI patent, and sent the case back to Texas for a new trial to determine how much Intel owes for infringing a second VLSI patent. A Waco, Texas jury awarded VLSI $2.18 billion in the first trial from the dispute. The jury found that technology in Intel microprocessors infringed patents that VLSI had acquired from Dutch chipmaker NXP Semiconductors (NXPI.O). Intel defeated VLSI's bid for more than $3 billion in damages in another Waco jury trial later in 2021. A separate jury in Austin, Texas said that VLSI was entitled to nearly $949 million from Intel in a third patent case last year.

Persons: Florence, VLSI's, Blake Brittain, David Bario, Chizu Nomiyama, Sharon Singleton Organizations: Intel, China International, Chain, REUTERS, Monday, Technology, Intel Corp, U.S, Appeals, Federal Circuit, Fortress Investment, Thomson Locations: Beijing, China, Texas, Waco , Texas, Waco, Austin , Texas, Delaware, Northern California, Washington

☆ Vice to end several news shows and lay off dozens of staffers in hollowing out of news division
▼ + stars: | 2023-11-09 | by ( Liam Reilly | ) edition.cnn.com time to read: +2 min

CNN —Vice Media, the one-time digital media darling that has seen its value and influence greatly diminish in recent years, moved on Thursday to further hollow out its once prestigious news division, shutting down several shows and laying off dozens of staffers. “To be clear, Vice News is not going away,” the company’s co-chief executives, Bruce Dixon and Hozefa Lokhandwala, said in a memo to staff obtained by CNN. “Vice will continue to produce digital news, as well as Vice News documentaries, both series and films, for FAST Channels, streaming services and other partners.”In April, Vice Media ended “Vice News Tonight,” its flagship program, citing restructuring that would result in cuts across the organization, CNN previously reported. In June, the digital media company was purchased by three investment companies, including Fortress Investment Group, for $350 million. A person familiar with the matter said “less than 100” staffers would be laid off.

Persons: “, Bruce Dixon, Hozefa Lokhandwala, ”, Dixon, Lokhandwala, CJTtiYXJML —, ” CNN’s Oliver Darcy Organizations: CNN —, Media, CNN, “, FAST, Fortress Investment, Union, Company

Alamo employees worked with United Auto Workers Local 2179 and this week voted to unionize, with nearly two-thirds in favor. They join Alamo employees at the Brooklyn theater, who voted last month to become part of Local 2179. At a time of labor action in the movie industry and beyond, union activity is expanding at movie theaters themselves, a trend which began during the pandemic. Within days, Brooklyn employees voted to unionize, by a margin of more than 2-to-1. “For years the workers of Brooklyn Alamo have tried to solve problems through dialogue with management, to no avail,” the union statement read in part.

Persons: “ Barbie ”, “ Oppenheimer, Barbenheimer ”, Maggie Quick, ”, Tyler Trautman, “, Quick, it's, Olga Brudastova, Chad Bolton, Tim League, Alamo, Sen, Bernie Sanders, Bernie, I’m, Michael Kusterman, Shelli Taylor, It'll Organizations: Alamo, Manhattan, United Auto Workers, Film, Amherst Cinema, Film Forum, UAW, The Associated Press, Vermont, League, Karrie League, Democratic Party, America, Hollywood, Gallup, Rice University, Entertainment, League . Altamont Capital Partners, Fortress Investment, Brooklyn, Brooklyn Alamo Locations: Manhattan, Brooklyn, New York, Massachusetts, San Francisco, Austin , Texas, Amherst, “, Alamo, Texas, U.S, Austin

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