Tag

Divestiture

All articles tagged with #divestiture

business18 days ago•19 min saved

Pluto TV Protected in Paramount-WBD Settlement, BET/Comedy Central Divestiture Flagged

A state AG settlement over the Paramount-Warner Bros. Discovery merger preserves Pluto TV for five years and outlines divestiture targets (BET, VH1, and Comedy Central) if Paramount cannot maintain arm’s-length basic cable deals; MTV and Nickelodeon stay protected. The agreement centers on cable and streaming negotiations, includes a monitor and state committee to enforce compliance, and notes that premium channels and studios are largely unaffected by the divestiture provisions.

via Deadline|

#antitrust #business #divestiture

politics2 months ago•6 min saved

DOJ Greenlights TikTok on Federal Devices After U.S. Data Divestiture

The Justice Department says federal employees may download TikTok on government devices after ByteDance divested control and moved U.S. data and operations to TikTok USDS, a majority-American joint venture. The DOJ’s Office of Legal Counsel concluded the restructuring removes the security risks that spurred a 2022 ban, with ByteDance remaining a minority shareholder and U.S. user data protected in Oracle’s cloud. The move follows bipartisan legislation and a Supreme Court ruling supporting sell-or-ban mandates, though enforcement had been delayed to allow investors to transition.

via Fox News|

#bytedance #divestiture #doj

business4 months ago•16 min saved

States Seek Breakup of Live Nation and Ticketmaster After Monopoly Verdict

Following a jury ruling that Live Nation illegally monopolized the live-music market, a coalition of states asks a federal judge to impose structural remedies, including divesting Ticketmaster and selling large venues, to restore competition. They also seek future-merger restrictions and damages, while Live Nation opposes a breakup and says changes previously agreed with the DOJ should suffice.

via Billboard|

#antitrust #business #divestiture

business8 months ago•3 min saved

Capgemini to Sell US Unit Amid ICE Contract Backlash

Capgemini will divest Capgemini Government Solutions, its US unit that provides skip-tracing services for ICE, after French lawmakers criticized the contract. The deal, worth over $4.8m and running until March, follows heightened scrutiny of ICE and immigration enforcement amid recent incidents in Minnesota.

via BBC|

#business #capgemini #divestiture

business9 months ago•5 min saved

Allison Transmission Acquires Dana's Off-Highway Business to Strengthen Global Leadership

Dana Incorporated has completed the sale of its Off-Highway business to Allison Transmission for $2.7 billion, a move that strengthens its focus on light- and commercial-vehicle markets, reduces debt by about $2 billion, and plans to return $1 billion to shareholders by 2027, supporting its ongoing transformation and growth strategy.

via Dana Incorporated|

#allison-transmission #business #dana-incorporated

politics1 year ago•3 min saved

President Trump Facilitates U.S. Ownership of TikTok to Protect National Security

President Donald Trump signed an executive order to save TikTok from a ban by approving a divestiture plan where TikTok's US operations are transferred to a US-based joint venture, with Oracle providing security and US user data stored domestically, ensuring national security while allowing Americans to continue using the platform and supporting US economic activity.

via The White House (.gov)|

#divestiture #national-security #politics

business1 year ago•3 min saved

Citi and Fernando Chico Pardo Agree on 25% Banamex Stake Purchase

Citi announced that Fernando Chico Pardo and his family will purchase a 25% stake in Banamex for approximately USD 2.3 billion, marking a key step in Citi's plan to divest from Banamex and focus on its core businesses. Pardo will be appointed Chair of Banamex, signaling a strategic partnership aimed at strengthening the bank's future growth and stability in Mexico.

via Citigroup|

#banamex #business #citi

financial1 year ago•4 min saved

Sinclair Initiates Strategic Review and Explores Sale of Broadcast Assets

Sinclair, Inc. has announced a comprehensive strategic review of its broadcast business, including potential acquisitions, partnerships, and a possible separation of its Ventures portfolio, aiming to unlock value and lead industry consolidation, while emphasizing its strong financial performance and operational excellence.

via Sinclair, Inc|

#broadcast-business #divestiture #financial

business1 year ago•1 min saved

AppLovin Reports Strong Q2 Earnings Amid Investor Caution

AppLovin beat Wall Street earnings and revenue expectations for Q2, with significant year-over-year growth, and provided a higher sales forecast for Q3. Despite the positive financial results, its stock declined slightly in after-hours trading, and the company continues to focus on its core marketing platform after selling its mobile gaming business. The stock is currently in a consolidation pattern with a potential buy point at 428.99.

via Investor's Business Daily|

#applovin #business #divestiture

business1 year ago•2 min saved

Barclays Warns of 25% Drop in Alphabet Stock Amid Potential Google Chrome Divestiture

Barclays warns that a court-ordered breakup of Google Chrome could lead to a 25% drop in Alphabet's stock, highlighting significant risks from ongoing antitrust cases, though analysts remain bullish with a 30% upside potential.

via TipRanks|

#alphabet #antitrust #business

technology1 year ago•1 min saved

Court Upholds Law Threatening TikTok Ban in U.S.

A federal Appeals Court has upheld a law that could ban TikTok in the U.S. unless it sells to an American owner by January 2025. The court's decision allows TikTok to appeal to the Supreme Court, and the company plans to seek an injunction. The ruling raises concerns about First Amendment rights and the platform's role in American communication and business. President-elect Donald Trump may extend the deadline if progress is made on the divestiture order.

via NBC News|

#divestiture #federal-court #first-amendment

business1 year ago•5 min saved

Trump's Truth Social: From Meme Stock to Market Target

Donald Trump, after winning a second term, faces potential conflicts of interest with his 114.75 million shares in Trump Media and Technology Group, which owns Truth Social. Despite his public refusal to sell, Trump could avoid a massive capital gains tax by obtaining a certificate of divestiture, allowing him to reinvest in diversified assets. This move would address ethics concerns and stabilize his volatile net worth. However, the legality of a president obtaining such a certificate is debated, with potential implications for Trump's financial and political interests.

via Forbes|

#business #capital-gains-tax #conflict-of-interest

technologypolitics2 years ago•0 min saved

"Congress Expedites TikTok Divestment Bill Amid Diplomatic Talks and Foreign Aid Bundling"

Congress is fast-tracking a bill aimed at forcing TikTok's Chinese parent company, ByteDance Ltd., to divest its ownership stake, with plans to include the legislation in an aid package for Ukraine and Israel. The Senate is expected to swiftly take up the measure, and President Joe Biden has pledged to sign it immediately.

via Bloomberg|

#bytedance-ltd #congress #divestiture

technologypolitics2 years ago•2 min saved

"Congress Pushes for TikTok Divestiture Amid User Uproar"

A bipartisan House committee unanimously approved a bill that could force TikTok to divest from its Chinese parent company, ByteDance, within six months or face a ban in the U.S. Lawmakers emphasized that the goal is to protect American data from Chinese access, not to eliminate TikTok. The bill has gained support from key figures, including House Speaker Mike Johnson and President Joe Biden, despite opposition from groups concerned about free speech. TikTok has responded by urging users to contact Congress, prompting concerns about the app's ability to locate and influence Americans.

via CNBC|

#bipartisan-bill #bytedance #divestiture

business2 years ago•4 min saved

Coherus Biosciences Sells Ophthalmology Franchise to Sandoz for $170M

Coherus BioSciences, Inc. has agreed to sell its ophthalmology franchise, including CIMERLI, to Sandoz for $170 million in cash, aligning with its strategic focus on oncology. The divestiture aims to pay down debt, reduce interest costs, and allow the company to concentrate on its core therapeutic area. Coherus' oncology assets include UDENYCA and LOQTORZI, and the transaction is expected to close in the first half of 2024, subject to certain conditions and approvals.

via GlobeNewswire|

#business #coherus #divestiture