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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailComcast President Cavanagh: There's no piece of our business that we'd say we're a laggard inBrian Roberts, Comcast chairman and CEO, and Michael Cavanagh, Comcast president, join 'Squawk Box' to discuss the company's broadcasting rights to the Olympic Games, state of the media landscape, company revenue strategies and growth outlook, NBA rights deal, M&A outlook, state of the consumer, and more.
Persons: Cavanagh, Brian Roberts, Michael Cavanagh Organizations: Comcast, Olympic Games
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Comcast Chairman & CEO Brian Roberts and President Michael CavanaghBrian Roberts, Comcast Chairman and CEO, and Michael Cavanagh, Comcast President, join 'Squawk Box' to discuss the company's broadcasting rights to the Olympic Games, state of the media landscape, company revenue strategies and growth outlook, NBA rights deal, M&A outlook, state of the consumer, and more.
Persons: Brian Roberts, Michael Cavanagh Brian Roberts, Michael Cavanagh Organizations: Comcast, Olympic Games
If you ask Zaslav, though, the reason Roberts and other potential buyers of media assets aren't interested is because the government has scared them away. Or, perhaps, legacy media companies are simply undesirable assets to own. He extended the life of his previous company, Discovery Communications — and probably his own tenure running a media company — by merging it with AT&T's WarnerMedia in 2022. Without a deal, Discovery would have wallowed as a subscale content provider and owner of declining cable networks. Discovery with another legacy media company, such as Paramount Global , Fox or Disney , or NBCUniversal, if it were spun off from Comcast.
Persons: David Zaslav, David Grogan, Brian Roberts, " Roberts, Comcast's, Roberts, Zaslav, Shari Redstone, Rob Kindler, Paul, Weiss, they've, Kindler, haven't, Morgan Stanley's, Donald Trump's, There's, Joe Biden's, Simon, Simon & Schuster, JD Vance, Lina Khan's, Lina Khan, Biden, Vance, Kamala Harris Organizations: Allen & Company Sun Valley Conference, CNBC Comcast, Warner Bros, Discovery, Allen & Co, Sun, Paramount, Skydance Media, CNBC Redstone, Starz, AMC Networks, Vice Media, Discovery Communications, NBA, Apple, Paramount Global, Fox, Disney, Comcast, CNBC, Google, Scripps Networks Interactive, Time Warner, Scripps, Viacom, CBS, Sky, AMC, IFC, Sundance, Lionsgate, Media, Republican, Democratic, Donald Trump's Department of Justice, Simon &, Random, MGM, Federal Trade, & $ Locations: Sun Valley , Idaho, RemedyFest
Ferrari program aims to stop counterfeit cars.
  + stars: | 2024-07-18 | by ( Peter Valdes-Dapena | ) edition.cnn.com   time to read: +4 min
Ferrari is so determined to maintain the authenticity of its cars, then, that it’s crushing potential fakes into cubes. Potential tattle-tales can share tips on possible faux Ferrari goods on a web page Ferrari created just for the purpose. How to fake a carWhile creating fake merchandise can be a simple matter of placing an unlicensed Ferrari prancing horse logo on a product, producing a believable fake Ferrari car can be much more involved. “Generally, the Ferrari collector tends to have a considerable knowledge over the brand as a whole and its cars, especially the most valuable ones,” said the spokesperson. As an example of the fate that awaits any fake Ferrari automobiles the company can find, Ferrari published a photo of a red car squished into a crinkled metal cube.
Persons: Ferrari, – Ferraristi, , ” Ferrari, Brian Rabold, , ” Rabold, they’ll, Enzo, Michael Mann, “ Ferrari Organizations: CNN —, counterfeits, CNN, Ferrari Locations: Italy, Italian
At the end of July, the Federal Open Market Committee will announce its next decision on interest rates. Some economists have recently been pointing to similar concerns with the Fed keeping interest rates high. As Sahm pointed out, it would take time for reduced interest rates to "flow through to the economy." "You want to begin a process of taking the pressure off of the economy," Sahm said. AdvertisementZandi said interest rates on credit cards and Buy Now, Pay Later rates could come down, along with a decline in auto lending rates and mortgage rates.
Persons: , Mark Zandi, Jerome Powell, Powell, Claudia Sahm, it's, Sahm, Sen, Elizabeth Warren, Brian Rose, Rose, Zandi, Austan Goolsbee, Goolsbee Organizations: Service, Moody's, Business, Federal, CME FedWatch, Fed, Banking, Housing, Urban Affairs, Sahm Consulting, Federal Reserve, Democratic, UBS, Chicago Federal, Wall Street Journal
Joe Scarborough, speaking alongside co-hosts Mika Brzezinski and Willie Geist, offered viewers a peek behind the curtain into the conspicuous decision-making process that transpired over the weekend. Without “Morning Joe” airing on Monday, viewers rebelled against MSNBC, opting to change the channel, Nielsen data indicated. The move to bench the “Morning Joe” crew, after all, didn’t happen in a vacuum. Which is why, perhaps, Comcast is involved in cleaning up the “Morning Joe” mess. I’m told that the company’s president, Mike Cavanagh, rescheduled meetings on Tuesday to grapple with the fallout stemming from the “Morning Joe” commentary.
Persons: CNN — Cesar Conde, , Joe ”, Donald Trump, Joe Scarborough, Mika Brzezinski, Willie Geist, Scarborough, , Lester Holt, Savannah Guthrie, Joe, , ” Scarborough, Joe Biden, Nancy Pelosi, Conde, Trump, Brian Roberts, Roberts, ” Trump, radicalizing, Donald Trump Jr, Sarah Huckabee Sanders, it’s, I’m, Mike Cavanagh, bode Organizations: CNN, MSNBC, NBC, Group chairman’s, Nielsen, NBC News Group, Comcast, RNC, NBCU, Locations: Scarborough, Savannah, Acela
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Vance told the outlet that in 2018, he was invited to an event hosted by the Business Roundtable, a nonprofit lobbyist group made up of CEOs. Vance told the Times the CEO then turned to him and said, "Well, you understand this as well as anybody. "Trump is much more economically populist, anti-free trade than traditional Republicans, and Vance has pushed hard to support this new populist economics in the GOP." The outlet reported that some business leaders and major GOP donors were against Trump picking Vance as a running mate.
Persons: , Donald Trump, Sen, JD Vance, Ohio Republican —, Vance, we've, I've, Trump, Brian Riedl, Hitler, Trumper Organizations: Service, Ohio Republican, Trump, The New York Times, Business, Times, Republicans, GOP, Manhattan Institute Locations: Ohio
The Fed shouldn't cut interest rates at all this year, strategist Jim Bianco said. AdvertisementThe Federal Reserve risks prematurely cutting interest rates right as the US economy is poised to reaccelerate, Jim Bianco told CNBC. Related storiesBacking the notion are promising declines in inflation and a cooling of the labor market. AdvertisementFed fund futures indicate that three 25-basis point interest rate cuts could come this year, starting in September. Interest rates will remain pressured by today's high level of government spending and continued consumer strength.
Persons: Jim Bianco, , there'll, Brian Rose, Bianco, they're, " Bianco, Charles Schwab, Schwab Organizations: Service, Reserve, CNBC, Bianco Research, Fed, UBS, ISM Services
In 1973, the first chapter of an unpublished novel was photocopied and passed around the Manhattan offices of Doubleday & Co. with a note. “Read this,” it dared, “without reading the rest of the book.”Those who accepted the challenge were treated to a swift-moving tale of terror, one that begins with a young woman taking a postcoital dip in the waters off Long Island. As her lover dozes on the beach, she’s ravaged by a great white shark. “The great conical head struck her like a locomotive, knocking her up out of the water,” the passage read. “The jaws snapped shut around her torso, crushing bones and flesh and organs into a jelly.”Tom Congdon, an editor at Doubleday, had circulated the bloody, soapy excerpt to drum up excitement for his latest project: a thriller about a massive fish stalking a small island town, written by a young author named Peter Benchley.
Persons: , dozes, Tom Congdon, Peter Benchley Organizations: Doubleday &, Doubleday Locations: Manhattan
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSofter labor market gives Fed incentive to cut rates 'sooner than later,' says UBS' Brian RoseMichael Kushma, Morgan Stanley Investment Management senior fixed income portfolio manager; Barry Knapp, Ironsides Macroeconomics managing partner; and Brian Rose, UBS senior economist, join CNBC's 'The Exchange' to discuss outlooks on the economy, expectation for rate cuts, and how to position.
Persons: Brian Rose Michael Kushma, Morgan, Barry Knapp, Brian Rose, CNBC's Organizations: UBS, Morgan Stanley Investment Management, Ironsides
CNN —Paramount Global—the sprawling media empire behind CBS, MTV, and one of Hollywood’s most storied movie studios—has agreed to merge with technology scion David Ellison’s Skydance Media, ending years of speculation over the company’s fate. The complicated transaction will see Skydance first buy National Amusements, then merge with Paramount, valuing Skydance at $4.75 billion. The combined company will be helmed by Ellison as chief executive and former NBCUniversal chief Jeff Shell as president. The deal caps a tumultuous and protracted saga that began in December, with the two companies entering into exclusive negotiations in April, resulting in the ouster of longtime Paramount chief executive Bob Bakish. In the meantime, the company has been run by a triumvirate of leaders: Brian Robbins, chief executive of Paramount Pictures; Chris McCarthy, chief executive of Showtime and MTV Entertainment Studios; and George Cheeks, chief executive of CBS.
Persons: , David Ellison’s Skydance, Ellison, Shari Redstone’s, Sumner Redstone, Jeff Shell, Bob Bakish, Brian Robbins, Chris McCarthy, George Cheeks, Robbins, , ” Robbins, David Ellison, Larry Ellison, ” Redstone, Paramount’s Organizations: CNN, Paramount, CBS, MTV, David Ellison’s Skydance Media, Amusements, National, Paramount Pictures, Showtime, MTV Entertainment Studios, Comedy Central, Netflix, BET, Sony Pictures, Apollo Global Management, Sony, Apollo, Redstone, Skydance Media
CNN —The New York Times Editorial Board is calling on President Joe Biden to leave the race for the White House after his performance at CNN’s presidential debate. He struggled to hold Mr. Trump accountable for his lies, his failures and his chilling plans. “The greatest public service Mr. Biden can now perform is to announce that he will not continue to run for re-election. There is no reason for the party to risk the stability and security of the country by forcing voters to choose between Mr. Trump’s deficiencies and those of Mr. Biden. “The last time Joe Biden lost the New York Times editorial board’s endorsement, it turned out pretty well for him,” Biden campaign co-chair Cedric Richmond told CNN.
Persons: Joe Biden, , Trump, Biden, It’s, Donald Trump, ” Biden, Cedric Richmond, Amy Klobuchar, Elizabeth Warren, , David Axelrod, Axelrod, Alex Wagner, ” Wagner, Betsy Klein, Kasie Hunt, MJ Lee, Lauren Fox, Kayla Tausche, Arlette Saenz, Hadas Gold Organizations: CNN, The New York Times Editorial, White, Democratic, Trump, Times, Biden, New York Times, The Times, The New York Times, , MSNBC
Some venture capitalists are trying to change the equation and are backing minority founders to help them scale their companies and create jobs within their communities. The largest cities that lack any LGBTQ+ founders are Orlando, Florida; Charlotte, North Carolina; and Birmingham, Alabama. One organization trying such solutions is Chasing Rainbows, a venture capital fund that works with LGBTQ+ founders to connect them with capital. Stokes said the LGBTQ+ community historically has experienced some form of discrimination when trying to access these types of services. An angel investor himself, Stokes founded Chasing Rainbows in 2021 after recognizing that underrepresented founders are seen as riskier investments.
Persons: Charlotte ,, Brian Richardson, Richardson, Ben Stokes, Stokes, outsized, Bill No Organizations: Gallup, CNBC, StartOut, University of California Locations: StartOut's State, San Francisco , New York, Los Angeles, Denver, Austin , Texas, Orlando , Florida, Charlotte, Charlotte , North Carolina, Birmingham , Alabama, Texas, North Carolina, Alabama, Massachusetts, New York, California, Berkeley
AdvertisementTaylor Swift is joined onstage by Travis Kelce during The Eras Tour in London. This was especially evident during The 1989 World Tour, which ran for nearly seven months in 2015. Mostly thanks to her talent and partially thanks to her self-spun underdog narrative, she had enjoyed years of headlines like "Taylor Swift: America's Sweetheart" and "Taylor Swift Is the Music Industry." Taylor Swift is joined onstage by Serena Williams, Karlie Kloss, and more during The 1989 World Tour in London. Perhaps bringing Kelce onstage felt as natural to Swift as writing a love song about him.
Persons: , Taylor Swift, Travis Kelce, Swift, haven't, cuddling, Joe Alwyn, Gareth Cattermole, Alwyn, Calvin Harris, Karlie Kloss, Lena Dunham, Kobe Bryant, Dayna Evans, Taylor, Serena Williams, Brian Rasic, Kim Kardashian, Ye, she's, It's, overexposed, it's Organizations: Service, Business, Kobe, Music Industry, Swift Locations: London, British
AdvertisementTaylor Swift is joined onstage by Travis Kelce during The Eras Tour in London. This was especially evident during The 1989 World Tour, which ran for nearly seven months in 2015. Mostly thanks to her talent and partially thanks to her self-spun underdog narrative, she had enjoyed years of headlines like "Taylor Swift: America's Sweetheart" and "Taylor Swift Is the Music Industry." Taylor Swift is joined onstage by Serena Williams, Karlie Kloss, and more during The 1989 World Tour in London. Perhaps bringing Kelce onstage felt as natural to Swift as writing a love song about him.
Persons: , Taylor Swift, Travis Kelce, Swift, haven't, cuddling, Joe Alwyn, Gareth Cattermole, Alwyn, Calvin Harris, Karlie Kloss, Lena Dunham, Kobe Bryant, Dayna Evans, Taylor, Serena Williams, Brian Rasic, Kim Kardashian, Ye, she's, It's, overexposed, it's Organizations: Service, Business, Kobe, Music Industry, Swift Locations: London, British
Paramount+ to increase prices for its streaming plans
  + stars: | 2024-06-24 | by ( Lillian Rizzo | ) www.cnbc.com   time to read: +3 min
The price increase takes effect on Aug. 20 for new customers for both plans. Existing Paramount+ with Showtime customers will see the price increase hit on or after Sept. 20. Paramount executives had said publicly on multiple occasions they see a lot of opportunities to increase the price of streaming services. Paramount said in April it had added 3.7 million Paramount+ subscribers during the first quarter, bringing the total to 71 million. The price increase comes after National Amusements earlier this month stopped discussions with Skydance on a proposed merger with Paramount.
Persons: , Comcast's NBCUniversal, Peacock, Shari Redstone, David Ellison's Skydance, George Cheeks, Chris McCarthy, Brian Robbins, Skydance didn't Organizations: Paramount, Showtime, Summer, NBC, Warner Bros . Discovery, National, CBS, Paramount Media Networks, Paramount Pictures, Comcast, CNBC Locations: NBCUniversal
The same could not be said for their sprawling entertainment businesses. The three men meet occasionally to discuss the state of the industry, and lively disagreements have a been a staple of their discussions. But by the time they met on the yacht, they had all agreed that the money-losing status quo in the streaming business was unsustainable. “There was peace in the valley for a period of time,” Mr. Malone mused in a rare recent interview, recalling the days before video-streaming upended the lucrative cable business. Disney laid off thousands of workers and pushed out its chief executive as streaming losses mounted, and had to fend off a proxy contest from the activist investor Nelson Peltz.
Persons: Brian Roberts, John Malone, Barry Diller, Diller’s, ” Mr, Malone, Nelson Peltz Organizations: Mr, Arriva, Paramount, CBS, Warner Bros, Disney Locations: Jupiter, Fla
Mario Anzuoni | ReutersNational Amusements stopped merger discussions between Paramount Global and Skydance this week — throwing into question what's next for the legacy media giant during a tumultuous period for the industry. Bob Bakish stepped down from the top post in April and was replaced by the so-called Office of the CEO: CBS CEO George Cheeks, Paramount Media Networks CEO Chris McCarthy and Paramount Pictures CEO Brian Robbins. The deal had been awaiting signoff from Redstone, who owns National Amusements, the controlling shareholder of 77% of class A Paramount shares. National Amusements also voiced its support for Paramount's current leadership. In recent days, other potential bidders for National Amusements emerged, according to reports.
Persons: Mario Anzuoni, what's, Bob Bakish, George Cheeks, Chris McCarthy, Brian Robbins, Jessica Reif, Ehrlich, Paramount's, Skydance, Redstone Organizations: Paramount Studios, Reuters National Amusements, Paramount Global, Paramount, CBS, Paramount Media Networks, Paramount Pictures, BofA Securities, CNBC, Amusements, RedBird Capital, KKR, Redstone, National Amusements, Apollo Global Management, Sony Locations: Los Angeles, Redstone
After weeks of endless speculation about the future of Paramount Global, and more than half a year of grueling negotiations, the heiress called off talks with David Ellison’s Skydance Media, astonishing the industry and raising questions about the future of her family-controlled media empire. Why Redstone ultimately vetoed the deal is now up for discussion. Chief among them was whether the deal should have been subject to approval from a majority of the minority shareholders. And tried they did over the last several months, with the negotiations claiming several high-profile casualties along the way. Over the course of the last few months, Bob Bakish was ousted as chief executive of Paramount Global and four directors resigned from the company’s board.
Persons: Shari Redstone, David Ellison’s Skydance, Sumner, Skydance, Ellison, Charles Phillips, “ Shari, Bob Bakish, , Brian Robbins, George Cheeks, Chris McCarthy, NAI Organizations: New York CNN, Paramount Global, Amusements Inc, CNN, Redstone, Redbird Capital, Paramount’s Office, Company’s, Directors, Paramount, Locations: New York
National Amusements has stopped talks with Skydance on a proposed merger with Paramount Global , CNBC's David Faber reported Tuesday. The deal had been awaiting signoff from Redstone, CNBC previously reported. She has approved of their ideas and leadership during their short tenure, CNBC previously reported. This is why it was no surprise when Paramount and Skydance agreed to merger terms earlier in June, CNBC reported. Under those terms, which were still being ironed out up until Tuesday, Redstone would have received $2 billion for National Amusements, CNBC reported.
Persons: Skydance, CNBC's David Faber, Shari Redstone, David Ellison's Skydance, Spokespeople, Redbird, It's, George Cheeks, Chris McCarthy, Brian Robbins, Bob Bakish, Paramount's Organizations: Paramount Studios, Amusements, Paramount Global, Paramount, RedBird Capital, KKR, CNBC, National Amusements, Street, CBS, Paramount Media Networks, Paramount Pictures, Redstone, Apollo Global Management, Sony, Skydance Locations: Los Angeles , California, Redstone
The Rocket-Firing Boba Fett action figure, modeled after the “Star Wars” bounty hunter, was purchased in Dallas by an anonymous buyer for $525,000, Heritage Auctions announced last Monday. Dolls are for girls, action figures are for boysUnlike fine art or sports memorabilia, the collectible action figure market is only a handful of decades old because action figures have only been around since the mid-1960s. “The first action figure was G.I. He recounted how Hasbro executive Don Levine coined the term “action figure” as a marketing tool, because “we can’t call these dolls. Caravoulias recalls laying in bed as a kid in 1985 and wishing he could buy a $5 Rambo II action figure.
Persons: Boba, Barbie, , Justin Caravoulias, Joe, Boba Fett, Fett, Kenner, Brian Rachfal, , Don Levine, , “ Nobody, Caravoulias, Price, Tom Derby, Darth Vader, It’s, Rambo, Rachfal, , Paul Arnold, Arnold, Gary C, Knapp, they’re, ” Caravoulias, Circana, ” “ Barbie, ” James Zahn Organizations: New, New York CNN, , Heritage Auctions, Heritage, Kenner, Hasbro, CNN, Derby, ‘ Power Rangers Locations: New York, United States, Dallas, American, Virginia Beach, Va
In the spring of 1999, a veteran New York book editor got a surprise call from one of the world’s most elusive literary superstars: Thomas Harris. Carole Baron, the editor, had plenty of time for Harris. After “Silence” landed on the best-seller list, Baron signed Harris to a $5.2 million contract for his next two books. But it paid off a few years later when the 1991 film adaptation of “Silence of the Lambs” became a worldwide smash. “Everyone wanted to know when we would have the new Thomas Harris book,” Baron said in a recent video interview, “and I assured them that it was coming.”
Persons: Thomas Harris, , Carole Baron, Harris, she’d, gourmand Hannibal Lecter, , Baron, Lecter, Darth Vader, ” Baron Organizations: York, Dell, Lambs
Read previewNetflix's "Hit Man" is based on the true story of former fake hitman Gary Johnson (Glen Powell) — but the ending is different from reality. Adria Arjona as Madison and Glen Powell as Gary Johnson in "Hit Man." Last year, Netflix bought "Hit Man" for $20 million to stream on their platform. In 'Hit Man,' Gary and Madison get away with killing two people and raise a family togetherAdria Arjona and Glen Powell in "Hit Man." The real Gary Johnson didn't murder anyone or marry MadisonAustin Amelio, Sanjay Rao, and Retta as New Orleans detectives Jasper, Phil, and Claudette in "Hit Man."
Persons: , Gary Johnson, Glen Powell, Gary, Austin Amelio, Adria Arjona, Brian Roedel, Skip Hollandsworth, Richard Linklater, Powell, Linklater, Madison, Ron, empathizes, Jasper, Gary suffocates, Madison Austin Amelio, Sanjay Rao, Phil, Claudette, Johnson, Hollandsworth, Rick Kern, Netflix Powell, floodgate, It's Organizations: Service, New Orleans Police Department, Business, Madison, Netflix, Texas Monthly, Monthly, AGC, Gary, Texas, Getty, UPI Locations: New Orleans, Jasper, Madison, Gary
The current leadership of Paramount Global presented a go-forward plan at the company's annual shareholder meeting Tuesday in the event a sale of the company doesn't happen. Redstone has been supportive of the Office of the CEO leadership team that has run the company since former CEO Bob Bakish stepped down in late April. The plan that Paramount Global shareholders are hearing on Tuesday will essentially serve as Redstone's alternate option if she chooses not to sell. "We'll be thoughtful with how we deploy capital, with our world-class content being the priority," said Robbins during the presentation Tuesday. On Tuesday, Robbins said the company has been "aggressively exploring all options" when it comes to partnerships with other streamers.
Persons: George Cheeks, Chris McCarthy, Brian Robbins —, , David Ellison's, Shari Redstone, Bob Bakish, Robbins, Cheeks, McCarthy Organizations: Paramount, SAG, Paramount Global, CBS, Paramount Media Networks, Paramount Pictures, Media, RedBird Capital, KKR, CNBC, Amusements Locations: Los Angeles , California, U.S
Paramount and Skydance agree to terms of a merger deal
  + stars: | 2024-06-03 | by ( Lillian Rizzo | ) www.cnbc.com   time to read: +2 min
Paramount and Skydance have agreed to terms of a merger, CNBC's David Faber reported Monday. A Paramount special committee and the buying consortium — David Ellison's Skydance, backed by private equity firms RedBird Capital and KKR — agreed to the terms. The deal currently calls for Redstone to receive $2 billion for National Amusements, Faber reported Monday. Following the close of the deal, Skydance and RedBird would own two-thirds of Paramount, and the class B shareholders would own the remaining third of the company, Faber reported. The deal will not require a vote from the shareholders, which was part of the negotiations, Faber reported.
Persons: Skydance, CNBC's David Faber, — David Ellison's Skydance, KKR —, Shari Redstone, Faber, RedBird, Paramount's, Bob Bakish, George Cheeks, Chris McCarthy, Brian Robbins Organizations: Paramount, Columbia, , RedBird Capital, KKR, Amusements, Apollo Global Management, Sony Pictures, National Amusements, Wall Street, CNBC, Apollo, Sony, Redstone, CBS, Showtime, MTV Entertainment Studios, Paramount Media Networks, Paramount Pictures, Nickelodeon Locations: Hollywood , California
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