DIRS.INFO The most relevant business & tech news

☆ Vince McMahon open to leaving WWE for good if he sells the company, CEO Nick Khan says
▼ + stars: | 2023-02-03 | by ( Alex Sherman | ) www.cnbc.com time to read: +2 min

World Wrestling Entertainment Executive Chairman Vince McMahon is open to stepping away from the company "if it's the right deal," according to WWE CEO Nick Khan. Khan took over as sole CEO in January when Levesque's wife and McMahon's daughter, Stephanie, stepped down as co-CEO. McMahon stepped away from his CEO role in June amid accusations of sexual misconduct from former female WWE employees. A month later, he announced he announced he would retire from the wrestling company he bought from his father over four decades ago. Khan acknowledged "it's tough to take control" from McMahon, who has owned and run WWE (previously WWF) for more than 40 years.

☆ John Malone prepares for a victory lap
▼ + stars: | 2023-02-01 | by ( Jeffrey Goldfarb | ) www.reuters.com time to read: +7 min

Now the cable cowboy’s Liberty Media (FWONA.O) empire is trotting out its trademark financial razzle-dazzle to try and wring additional value out of its assets. Malone, Liberty Media’s chairman, is as renowned for his dizzying array of specialized equity issues, spinoffs and splits as he is for the telecom and entertainment companies that have been subjected to the intricate machinations. It excludes broadcaster Discovery, spun off from Liberty Media in 2005, and international broadband provider Liberty Global (LBTYA.O), hived off a year earlier. A more logical starting point would be 2001, when Malone carved Liberty Media out of telecom giant AT&T (T.N). Likewise, Liberty Media’s accompanying shakeup of its tracking stocks stands to further spotlight the value of Formula One.

☆ FIA defends Ben Sulayem after reported sexist comments
▼ + stars: | 2023-01-28 | by ( Alan Baldwin | ) www.reuters.com time to read: +3 min

LONDON, Jan 28 (Reuters) - Sexist comments attributed to the head of Formula One's governing body and splashed across the media do not reflect the beliefs of president Mohammed Ben Sulayem, the FIA said on Saturday. The comments, which appeared to be more than two decades old, appeared on an old personal website that could no longer be read online. An FIA spokesman said however that "the remarks in this archived website from 2001 do not reflect the president's beliefs. "He has a strong record on promoting women and equality in sport, which he is happy to be judged on. read moreBen Sulayem had questioned on Twitter a reported $20 billion valuation of the sport following reports of Saudi Arabian interest.

☆ F1 sends incendiary letter to FIA after Mohammed Ben Sulayem's 'inflated price tags of $20bn' claim
▼ + stars: | 2023-01-25 | by ( Mark Kleinman | ) www.cnbc.com time to read: +3 min

Formula One bosses have accused FIA president Mohammed Ben Sulayem of "unacceptable" interference in the alleged sale of the sport. He added that a potential buyer of F1 should "come with a clear, sustainable plan — not just a lot of money." The letter, warned the FIA that "Formula 1 has the exclusive right to exploit the commercial rights in the FIA Formula One World Championship" under a 100-year deal. The response to Ben Sulayem's comments comes at a time of heightened tensions between F1 and its governing body. F1 teams question FIA president's position after latest disagreementsAnalysis by Sky Sports News' Craig Slater...

☆ Formula One accuses FIA head of commercial interference
▼ + stars: | 2023-01-24 | by ( Alan Baldwin | ) www.reuters.com time to read: +3 min

LONDON, Jan 24 (Reuters) - Liberty Media-owned Formula One has accused FIA president Mohammed Ben Sulayem of interfering with its commercial rights by publicly questioning a reported $20 billion valuation of the sport. They also fuel the sense of an emerging turf war between the governing body and a commercial rights holder eager to grow an expanding and increasingly popular championship in new directions. Sky Sports News reported that Formula One's legal head Sacha Woodward Hill and Liberty Media counterpart Renee Wilm had sent a joint letter to the FIA accusing the governing body of exceeding its remit. "The FIA has given unequivocal undertakings that it will not do anything to prejudice the ownership, management and/or exploitation of those rights," Sky quoted Formula One's letter as saying. There was no comment from Formula One and no immediate response from the FIA.

☆ Evercore ISI's top picks for 2023 include a tech comeback story and a car racing play
▼ + stars: | 2023-01-12 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Finding opportunities amid the market volatility is "mission critical," and there are several to be had this year, according to Evercore ISI. The Wall Street firm is predicting an economic and earnings recession, catalyzing a "cathartic" volatility spike in 2023. "Alpha opportunities are surfacing in 2022's wreckage from inflation's breakout resulting in record tightening, catalyzing a stock/bond correlated decline. With that in mind, Evercore came up with its top stock picks for 2023. The streaming company should enjoy a comeback this year, after losing 51% in 2022, according to analyst Mark Mahaney.

☆ Vince McMahon is back at WWE to ensure a smooth sale process. Here's who might want to buy it
▼ + stars: | 2023-01-07 | by ( Alex Sherman | ) www.cnbc.com time to read: +8 min

WWE has hired JPMorgan to help the company advise on a potential sale, according to people familiar with the matter. But it remains unclear what type of role, if any, McMahon would want at WWE if he sold the company. WWE has a market capitalization of more than $6 billion after rising nearly 17% percent on Friday, buoyed by heightened sale speculation. McMahon's company already has an exclusive streaming deal with Comcast's streaming service, Peacock, and a cable TV deal with NBCUniversal's USA Network. Fox sold off most of its entertainment assets in its $71 billion sale to Disney in 2019, but WWE fits with the smaller company's sports and live events focus.

☆ How Gerry Cardinale became the go-to dealmaker for the likes of the Yankees, AC Milan, and Ben Affleck
▼ + stars: | 2022-12-29 | by ( Hayley Cuccinello | Dakin Campbell | ) www.businessinsider.com time to read: +20 min

He bought the soccer club AC Milan in August, earning the attention of the Italian press. This past spring, AC Milan won its first national title in 11 years. Claudio Villa/AC Milan via Getty Images Show less Cardinale at a training session for AC Milan. For instance, the teams sell each other's merchandise in their stadiums, and the YES Network airs AC Milan games. "Now we have a new phase of expansion and internationalization of AC Milan with Gerry."

If more female fans tune in, they will help Chief Executive Stefano Domenicali fuel revenue at his motor-racing division. Around 40% of F1 fans are now female, up 8% from 2017, and more women are attending races too, Domenicali said in November. One way to accelerate the trend could be featuring female drivers. She also boasts a fanbase of over half a million social media followers – more than the W Series itself. Unfortunately for Formula One, when financial pressures ended W Series 2022 early, she absconded to Andretti Autosport’s team for the U.S. IndyCar NXT races.

☆ This unusual media stock is a top 2023 play from Morgan Stanley because of growing F1 popularity
▼ + stars: | 2022-12-19 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

Shares of Formula One-parent company Liberty Media can go nearly 30% higher on the rising popularity of the auto racing sport, according to Morgan Stanley. Analyst Benjamin Swinburne named the media and entertainment stock one of his top overweight-rated ideas for 2023, saying it can outperform even as growing recessionary challenges are expected to challenge the broader industry. Its primary revenue drivers (over 80% of revenues) are driven by contracted media rights, race promotion fees, and sponsorship contracts all with multi-year renewal cycles," Swinburne wrote Monday. The analyst cited the growing popularity of Formula One in the U.S., which he expects will result in higher revenue growth over the long term. EBITDA (OpCo level) to CAGR midteens through '25 as F1 realizes margin expansion under the terms of its current Concorde Agreement," Swinburne wrote.

☆ David Zaslav's top priority at Warner Bros. Discovery: Get the cash flowing again
▼ + stars: | 2022-12-06 | by ( Alex Sherman | ) www.cnbc.com time to read: +7 min

Warner Bros. Warner Bros. Discovery will generate more than $3 billion in free cash flow this year, about $4 billion next year and close to $6 billion in free cash flow in 2024, according to company forecasts. Warner Bros. The one certainty is Zaslav's decision will be squarely based on how a deal affects the company's free cash flow.

☆ Taylor Swift's tour promoter says it had no choice but to work with Ticketmaster
▼ + stars: | 2022-11-22 | by ( Sarah Whitten | ) www.cnbc.com time to read: +2 min

Taylor Swift's tour promoter is shifting blame for the botched "Eras" ticket sale squarely onto Ticketmaster, potentially fueling even more concerns about the Live Nation-owned ticket seller's dominant role in the industry. AEG Presents, the company in charge of handling Swift's upcoming tour, has rejected claims made by Ticketmaster and Live Nation's largest shareholder, Liberty Media, that the promoter chose to work with the ticketing site. Lawmakers, like Rep. Alexandria Ocasio-Cortez, D-N.Y., called for more oversight on Live Nation, which merged with Ticketmaster in 2010, expressing antitrust concerns. They have called on the Department of Justice to investigate Ticketmaster and Live Nation for "hiking up ticket prices" and "charging rip-off junk fees." On Friday, The New York Times reported the Justice Department had already opened an antitrust investigation into Live Nation's practices prior to the Swift ticket sale fiasco.

☆ White House on Taylor Swift Ticketmaster debacle: Capitalism without competition is exploitation
▼ + stars: | 2022-11-18 | by ( Emma Kinery | ) www.cnbc.com time to read: +3 min

White House Press Secretary Karine Jean-Pierre answers questions during the daily press briefing at the White House in Washington, August 9, 2022. Declining to comment on "any potential investigation" by the Justice Department, Jean-Pierre said Biden has been clear on how he feels about companies that hold monopolies. Ticketmaster, part of Live Nation, is facing scrutiny for its roll out of Taylor Swift concert tickets. The New York Times reported Friday the Justice Department had opened an antitrust probe into Live Nation after the fiasco. Live Nation Entertainment is a merger between Ticketmaster and Live Nation in 2010.

☆ Taylor Swift slams 'outside entity' over ticket fiasco: 'I'm not going to make excuses for anyone'
▼ + stars: | 2022-11-18 | by ( Leslie Josephs | ) www.cnbc.com time to read: +3 min

"I'm not going to make excuses for anyone because we asked them, multiple times, if they could handle this kind of demand and we were assured they could. The CEO of Live Nation's largest shareholder defended Ticketmaster on Thursday, chalking up the issues to Swift's popularity and bots. "It's a function of Taylor Swift. The site was supposed to open up for 1.5 million verified Taylor Swift fans," Maffei told CNBC's "Squawk on the Street." Maffei said Ticketmaster sold more than 2 million tickets on Tuesday and demand for Swift "could have filled 900 stadiums."

☆ Liberty Media to Split Off MLB’s Atlanta Braves
▼ + stars: | 2022-11-17 | by ( Will Feuer | ) www.wsj.com time to read: 1 min

Austin Riley of the Atlanta Braves made a catch against the Philadelphia Phillies last month in Atlanta. Media and entertainment company Liberty Media Corp. said it would split off the Atlanta Braves Major League Baseball team and its associated real-estate development project into a separate, publicly traded company. Liberty Media, which operates and owns interests in businesses including Sirius XM Holdings Inc. and Formula One Group, said it would redeem its existing Liberty Braves common stock in exchange for shares of a newly formed company to be called Atlanta Braves Holdings Inc.

☆ You Can Soon Buy Stock Directly in the Atlanta Braves
▼ + stars: | 2022-11-17 | by ( Will Feuer | ) www.wsj.com time to read: 1 min

Austin Riley of the Atlanta Braves made a catch against the Philadelphia Phillies last month in Atlanta. Fans could soon own a piece of just the Atlanta Braves. Liberty Media Corp., the owner of the Major League Baseball team, said it plans to split the Braves off into a publicly traded company, separating shares of the team from the rest of billionaire John Malone ‘s sprawling holdings.

☆ Warner Bros. Discovery business is a long-term game, says Liberty Media Chairman John Malone
▼ + stars: | 2022-11-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWarner Bros. Discovery business is a long-term game, says Liberty Media Chairman John MaloneCNBC's David Faber sits down with Liberty Media Chairman John Malone on the company's investor day to discuss his stake in Warner Bros.

☆ Demand for Taylor Swift concert tickets exceeded every expectation, says Liberty Media CEO
▼ + stars: | 2022-11-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDemand for Taylor Swift concert tickets exceeded every expectation, says Liberty Media CEOLiberty Media CEO Greg Maffei sits down with CNBC's David Faber at the company's annual investor day to discuss why the company plans to split off the Atlanta Braves and the overwhelming demand for Taylor Swift concert tickets on Live Nation.

☆ A dramatically slower ad market is ahead, says Liberty Media Chairman John Malone
▼ + stars: | 2022-11-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailA dramatically slower ad market is ahead, says Liberty Media Chairman John MaloneCNBC's David Faber joins 'Squawk on the Street' to talk with John Malone, Liberty Media Chairman, to discuss forecasts for the ad market in 2023, the main factors contributing to a strain in ad spending, and the sectors predicted to be most impacted.

☆ John Malone: There may be opportunities for streamers to bundle
▼ + stars: | 2022-11-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJohn Malone: There may be opportunities for streamers to bundleCNBC's David Faber sits down with Liberty Media Chairman John Malone to discuss streaming platforms, the possibility of consolidation, and subscriber attitudes toward ads.

☆ Liberty Media Chairman John Malone: There is enormous market power in sports
▼ + stars: | 2022-11-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLiberty Media Chairman John Malone: There is enormous market power in sportsCNBC's David Faber sits down with Liberty Media Chairman John Malone on the company's investor day to discuss his outlook on streaming and sports entertainment.

☆ John Malone says he's skeptical of ad-supported content as Netflix, Disney roll out ad tiers
▼ + stars: | 2022-11-17 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Liberty Media Chairman John Malone told CNBC he's doubtful that adding commercials to long-form streaming content would help media companies be successful in the long run. Malone thinks that the important ingredient in achieving profitability is for streamers to move users from lower-priced tiers to higher-priced ones. The media magnate said Apple is focused on maintaining its high quality brand, while Amazon is still figuring out the optimum role that it can play as a bundler and as a promoter. But they want to make sure it doesn't damage their extremely high quality brand," Malone said. They're trying sports, they're trying content, they're trying ad supported content."

☆ Ticketmaster expected 1.5 million 'verified' Taylor Swift fans on the site but 14 million people were trying to get tickets, Live Nation chairman says: 'We could have filled 900 stadiums'
▼ + stars: | 2022-11-17 | by ( Britney Nguyen | ) www.businessinsider.com time to read: +3 min

Ticketmaster was only supposed to be opened to 1.5 million "verified" Taylor Swift fans for presale. Live Nation's chairman said 14 million people tried to get tickets, and could've filled 900 stadiums. "Despite all the challenges and the breakdowns, we did sell over 2 million tickets that day," Live Nation's Greg Maffei said. However, among the 14 million fans were bots, "which are not supposed to be there," Maffei said. Maffei said Ticketmaster attempted to build "capacity for peak demand," but Swift's ticket sales "exceeded every expectation."

☆ Ticketmaster's largest shareholder blames massive demand − including from bots − for Taylor Swift ticket fiasco
▼ + stars: | 2022-11-17 | by ( Sarah Whitten | ) www.cnbc.com time to read: +2 min

Live Nation is sympathetic to fans who couldn't get tickets, Greg Maffei said on CNBC's "Squawk on the Street" Thursday. "It's a function of Taylor Swift. Liberty also said it would create a new stock called Liberty Live, which will include its stake in Live Nation. People amplified their complaints this week when tickets for Taylor Swift upcoming Eras tour went on presale on Ticketmaster's website. Maffei also defended Live Nation against lawmaker and activist concerns that Ticketmaster and Live Nation are abusing their market power.

☆ Netflix explores investing in live sports, bids for streaming rights- WSJ
▼ + stars: | 2022-11-08 | by ( ) www.reuters.com time to read: +1 min

Nov 8 (Reuters) - Netflix Inc (NFLX.O) is exploring investments in live sports broadcasting and has recently bid for the streaming rights for sports leagues, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. The company recently bid for the streaming rights for the ATP tennis tour for some European countries, including France and the U.K., but dropped out, the report said. The company also discussed bidding for other events, including U.K. rights to the Women's Tennis Association and cycling competitions, and was in talks late last year to acquire the World Surf League, the WSJ said. Streaming platforms are also looking at live sports to gain market share in an already saturated market. read moreReporting by Shreyaa Narayanan and Vansh Agarwal in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Search resuls for: "Liberty Media"

25 mentions found