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☆ Disney buys MLB's stake in streaming firm BAMTech for $900 mln
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: +2 min

Nov 29 (Reuters) - Walt Disney Co (DIS.N) disclosed on Tuesday that it has taken full control of BAMTech, a video-streaming firm spun off from Major League Baseball's digital media company MLB Advanced Media. Disney earlier this month purchased the remaining stake in BAMTech from Major League Baseball for $900 million, the company said in a SEC filing. Previous to the transaction, streaming technology services provider BAMTech was owned 85% by Disney and 15% by Major League Baseball (MLB). BAMTech provides the streaming platform for such entities as Worldwide Wrestling Entertainment and Warner Bros Discovery Inc's HBO. Streaming service provider Hulu is owned 67% by Disney and 33% by NBC Universal (NBCU).

☆ Trump ally Devin Nunes can sue NBCUniversal for defamation - judge
▼ + stars: | 2022-11-29 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

NEW YORK, Nov 28 (Reuters) - A U.S. judge on Monday said Devin Nunes, the former California congressman and an ally of former U.S. President Donald Trump, can sue NBCUniversal for defamation over a comment by Rachel Maddow concerning his relationship with a suspected Russian agent. Without ruling on the merits, U.S. District Judge Kevin Castel in Manhattan said Nunes "plausibly allege[d] actual malice" with respect to a statement from a March 2021 broadcast of MSNBC's "The Rachel Maddow Show." NBCUniversal, which is owned by Comcast Corp (CMCSA.O), and its lawyers did not immediately respond to requests for comment. Nunes left Congress last December to become chief executive of the social media venture Trump Media & Technology Group. The case is Nunes v NBCUniversal Media Inc, U.S. District Court, Southern District of New York, No.

☆ Cramer's lightning round: Stay with Vertex Pharmaceuticals
▼ + stars: | 2022-10-27 | by ( Krystal Hur | ) www.cnbc.com time to read: 1 min

Loading chart...Warner Bros Discovery Inc : "I need to see them make some money. I'm not recommending stocks that are losing money." Loading chart...Getty Images Holdings Inc : "I think down here at $4, I'm not a SPAC guy, okay, but this one may be actually worth looking at." Loading chart...Cleveland-Cliffs Inc : "I continue to prefer Nucor . Loading chart...Vertex Pharmaceuticals Inc : "I say stay with it, I think it's a really, really well-run company."

☆ Warner Bros Discovery expects up to $2.5 bln charge on scrapped content
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: +2 min

Oct 24 (Reuters) - Warner Bros Discovery Inc (WBD.O) on Monday put a price tag on its decision to scrap "Batgirl," "The Not-Too-Late Show With Elmo" and other series and films deemed unworthy of the investment: as much as $2.5 billion. AT&T Inc's (T.N) WarnerMedia unit and Discovery Inc completed their merger in April to form Warner Bros Discovery. Register now for FREE unlimited access to Reuters.com RegisterIn a regulatory filing on Monday, Warner Bros Discovery detailed how Zaslav and his leadership team plan to achieve the promised cost cuts, which will be substantially completed by the end of 2024. Warner Bros Discovery said it anticipates $800 million to $1 billion in costs related to layoffs throughout the company, and another $400 million to $700 million by consolidating facilities. The company declined to say how the charges would impact its third-quarter results, due for release on Nov. 3.

☆ Cramer's lightning round: Wait for Texas Roadhouse to come down
▼ + stars: | 2022-10-17 | by ( Krystal Hur | ) www.cnbc.com time to read: 1 min

I like profitable companies with good balance sheets. Loading chart...Veru Inc : "A lot of people bet against it, so it could be a very binary, up big, down big situation." Loading chart...Texas Roadhouse Inc : "We have to wait for that one to come down, because it's had too big a move." Loading chart...Organon & Co : "We are going to find out what this story is, and then we're going to come back to you." Dice Therapeutics Inc : "I can not recommend it, particularly because the company is losing money hand over fist."

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