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“#AT&T completes spinoff of its shrinking DirecTV unit” AT&T has completed its spinoff of struggling satellite TV provider DirecTV in a deal backed by private-equity firm TPG. Earlier this year, the telecom giant announced the sale, which valued DirecTV and other satellite properties at $16.25 billion — a fraction of the $48.5 billion AT&T shelled…
“#Reese Witherspoon’s Hello Sunshine sold for $900 million” Reese Witherspoon’s entertainment startup Hello Sunshine has been sold for $900 million to a firm backed by private-equity giant Blackstone Group. Witherspoon’s media firm — whose shows include HBO’s “Big Little Lies,” Apple’s “The Morning Show” and Oscar-nominated thriller “Gone Girl,” is the first acquisition for the…
“#Former CBS chief Joe Ianniello launches media-focused SPAC” Joe Ianniello, who ran CBS after longtime boss Les Moonves resigned in 2018 amid sexual assault allegations, is jumping into the SPAC market. Ianniello, who left CBS not long after it merged with Viacom in 2019, is launching a media-focused special-purpose acquisition company that is looking to raise…
“#Uber to buy shipping logistics firm Transplace for $2.25B” Ride-sharing company Uber on Thursday announced that its trucking business will acquire transportation logistics company Transplace for $2.25 billion. Uber Freight will acquire Transplace from TPG Capital, the private equity platform of alternative asset firm TPG. Shares of Uber fell slightly on the news in early…
“#Comcast, ViacomCBS bosses discussed streaming deal: report” Comcast chief executive Brian Roberts and ViacomCBS chairman Shari Redstone met in recent weeks to discuss a potential streaming pact for international markets, according to a new report. Roberts, Redstone and ViacomCBS CEO Bob Bakish convened in New York at the end of June to explore a host…
“#Zoom stock tanks on news of $14.7 billion Five9 deal” Zoom’s stock tanked Monday morning after the video conferencing company revealed plans to buy call center software company Five9 for $14.7 billion. An hour after markets opened, Zoom shares were trading down 3.9 percent at $348.00, according to MarketWatch data, while the tech-heavy Nasdaq composite…
“#Bill Ackman’s SPAC drops $4B Universal Music Group deal” Billionaire investor Bill Ackman announced Monday that his firm is dropping plans to use his SPAC to invest in Universal Music Group after the Securities and Exchange Commission raised questions over the deal. Ackman announced last month that his SPAC, or special-purpose acquisition company, called Pershing…
“#Amid mega-mergers and acquisitions, ViacomCBS may be in play” In the world of mergers and acquisitions, Wall Street bankers have an old saying: “Everyone talks to everyone.” The cliché describes those preliminary M&A powwows between CEOs that are so commonplace, you probably shouldn’t label them “deal discussions.” Except on those occasions when they deserve that…
“#LeBron James’ SpringHill in early deal talks with Nike: report” LeBron James’ entertainment company, SpringHill, is in early talks with Nike and other bidders about a sale, according to a report. Formed by the 36-year-old NBA star and his longtime business partner Maverick Carter, SpringHill is in “early stage” discussions, Bloomberg News reported. Talks between…
“#Adidas auction of Reebok takes a hit as key bidder Authentic Brands drops out” A key bidder has dropped out of the auction for Reebok, making it more likely that German-based Adidas will take an even bigger hit on its disastrous, 15-year stint as the owner of the struggling sneaker brand, The Post has learned….