The activist investor Starboard Value has taken a significant step by moving to dissolve News Corp’s dual-class share structure, shaking up the Murdoch family’s control over the Wall Street Journal parent company. This move, according to sources familiar with the matter, was made through a non-binding shareholder resolution. As of September, Rupert Murdoch, the head
Business
The Green Bay Packers are an anomaly in the world of professional sports ownership, as they are the only National Football League team with an ownership structure that resembles a publicly traded company. With a valuation of $6.3 billion, the Packers stand as the 12th most valuable NFL franchise, according to CNBC’s Official 2024 NFL
As CNBC introduces its Official NFL Team Valuations, it’s evident that the business of professional football is a lucrative one. The rankings provided by CNBC’s senior sports reporter, Michael Ozanian, give a glimpse into the financial aspect of NFL teams, considering factors such as revenue, profit, and debt. The average value of an NFL team
With the return of football season, the sports betting industry is expected to reach record-breaking levels. The American Gaming Association projects that U.S. adults will wager an astounding $35 billion during this NFL season. This represents a significant increase of more than 30% compared to last year’s betting figures. Despite this tremendous growth, stock prices
Golden State Warriors star, Steph Curry, is not only focused on his current basketball career, but he is also looking ahead to his post-playing days. In a recent interview with CNBC, Curry discussed his aspirations and goals for the future, sharing his interests in various business ventures and potential NBA team ownership. At 36 years
Ulta Beauty recently faced a setback as its shares plummeted by 7% in extended trading due to falling short of second-quarter expectations. The company reported a decline in comparable sales during this period, marking its first earnings per share miss since May 2020 and first revenue miss since December 2020. CEO Dave Kimbell acknowledged the
The year 2024 has seen a sharp increase in bankruptcy filings across various sectors, with the restaurant industry bearing a significant portion of the burden. The surge in bankruptcies signifies the challenging times faced by businesses as they grapple with decreasing consumer spending, rising labor costs, and the fading support from Covid-era government aid. Notably,
The cannabis market in New York City has taken a significant turn with the emergence of upscale marijuana dispensaries. Shoppers strolling down Fifth Avenue can now not only browse through luxury brands like Cartier and Saks but also pick up pre-rolled, New York state-grown marijuana joints from licensed dispensaries. The legalization of adult-use marijuana in
In a recent turn of events, airlines that have historically been eager for new aircrafts are now facing financial struggles that are causing them to rethink their growth strategies. Cash-strapped and low-cost airlines such as Spirit Airlines, JetBlue Airways, and Frontier Airlines have all reported losses and are deferring deliveries of new aircraft in an
The Food and Drug Administration recently authorized the emergency use of Novavax’s updated protein-based Covid vaccine for individuals aged 12 and above. This approval opens up the opportunity for Novavax’s vaccine to enter the market and compete with established vaccines from Pfizer and Moderna during the upcoming fall and winter seasons. Novavax’s vaccine is designed