Activist investor Starboard Value has made a bold move to dissolve News Corp’s dual-class share structure, a direct challenge to the Murdoch family’s control over the Wall Street Journal parent company. This strategic decision, as reported by sources close to the matter, was initiated through a non-binding shareholder resolution. At the time of the push
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The Green Bay Packers stand out among National Football League teams with their ownership structure that resembles a publicly traded company. As the 12th most valuable NFL franchise at $6.3 billion, according to CNBC’s Official 2024 NFL Team Valuations, the Packers are the only publicly owned team across the four major North American professional sports
In today’s fast-paced world of professional sports, the business side of the game is just as important as the on-field performance. With the kickoff of CNBC’s Official NFL Team Valuations, fans and analysts alike can now take a closer look at how each team’s overall franchise value stacks up against the competition. This ranking, compiled
With the return of football, sports betting is expected to reach new heights this NFL season. Projections from the American Gaming Association suggest that U.S. adults will wager a staggering $35 billion, representing a substantial increase of over 30% compared to last year. Despite the growing popularity and legalization of sports betting in numerous states,
Steph Curry, the 10-time NBA All-Star and four-time NBA Champion, is already thinking ahead to life after basketball. In a recent interview with CNBC’s “Squawk on the Street,” Curry discussed his plans for the future, including his various business ventures and potential goals for after he hangs up his basketball sneakers. At 36 years old,
Ulta Beauty faced a setback in its second-quarter performance, causing its shares to fall by 7% in extended trading. The company fell short of expectations and trimmed its full-year guidance due to a decline in same-store sales during the most recent period. This marks Ulta’s first earnings per share miss since May 2020 and its
The restaurant industry has been hit hard by bankruptcy filings, with at least 10 notable restaurant chains filing for bankruptcy in 2024. This surge in bankruptcies reflects broader trends across various sectors. Some of the factors contributing to these bankruptcies include decreased consumer spending, rising labor costs, and the disappearance of government assistance that was
In recent years, the landscape of cannabis consumption has undergone a significant shift, particularly in New York City. The emergence of luxury dispensaries on Fifth Avenue represents a new era where shoppers can indulge in high-end marijuana products alongside renowned fashion and jewelry brands. This development comes in the wake of New York state’s legalization
The airline industry, which was once characterized by a frenzy of new jet orders, is now facing a stark reality as cash-strapped, low-cost, and deep discounter airlines are putting the brakes on spending billions of dollars on new aircraft. These airlines are prioritizing saving money as they strive to return to profitability and confront the
In a recent development, the Food and Drug Administration has given emergency use authorization to Novavax’s updated protein-based Covid vaccine for individuals aged 12 and above. This approval opens up the competition for Novavax’s shot against the well-established Pfizer and Moderna vaccines during the upcoming fall and winter seasons. Novavax’s vaccine specifically targets the omicron