business

1/17/25

TikTok CEO thanks Trump, will sit with Meta CEO at inauguration

In his first statement following the Supreme Court’s decision to uphold the TikTok ban, CEO Shou Chew thanked incoming President Donald Trump — the same guy who wrote an executive order to ban TikTok during his first term — for potentially working to save the social video platform in the US.

“I would like to thank President Trump for his commitment to work with us to find a solution that keeps TikTok available in the United States,” Chew said on his own platform. “This is a strong stand for the First Amendment and against arbitrary censorship.”

Trump is considering an executive order that would suspend enforcement of the ban for 60 to 90 days so he could potentially negotiate a sale or another solution.

Chew already seems to be on Trump’s good side. The CEO is expected to sit in a position of honor at Trump’s inauguration, something reserved for former presidents, family members, and, in this case, Mark Zuckerberg, the CEO of Meta, a platform that competes directly with TikTok.

Shou on TikTok

Shou on TikTok

“I would like to thank President Trump for his commitment to work with us to find a solution that keeps TikTok available in the United States,” Chew said on his own platform. “This is a strong stand for the First Amendment and against arbitrary censorship.”

Trump is considering an executive order that would suspend enforcement of the ban for 60 to 90 days so he could potentially negotiate a sale or another solution.

Chew already seems to be on Trump’s good side. The CEO is expected to sit in a position of honor at Trump’s inauguration, something reserved for former presidents, family members, and, in this case, Mark Zuckerberg, the CEO of Meta, a platform that competes directly with TikTok.

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Paramount Skydance reportedly preparing an Ellison-backed Warner Bros. Discovery takeover bid, sending shares soaring

Paramount Skydance is preparing a majority cash bid for Warner Bros. Discovery, The Wall Street Journal reported, sending shares of both companies surging. The Journal’s sources say the deal is backed by the Ellison family, led by David Ellison.

WBD shares were up 30% on the report, while Paramount Skydance jumped 8%.

The offer would cover WBD’s entire business — cable networks, movie studios, the whole enchilada. That comes after WBD announced plans last year to split into two divisions: one for streaming and studios, the other for its traditional cable and TV assets. A recent Wells Fargo note gave WBD a price target hike, primarily because the analysts viewed it as a prime takeover candidate.

If the deal goes through, it would bring together HBO, CNN, DC Studios, and Warner Bros.’ film library with Paramount+, Nickelodeon, and MTV, all under one umbrella.

Exclusive | Paramount Skydance Prepares Ellison-Backed Bid for Warner Bros. Discovery

Exclusive | Paramount Skydance Prepares Ellison-Backed Bid for Warner Bros. Discovery

The offer would cover WBD’s entire business — cable networks, movie studios, the whole enchilada. That comes after WBD announced plans last year to split into two divisions: one for streaming and studios, the other for its traditional cable and TV assets. A recent Wells Fargo note gave WBD a price target hike, primarily because the analysts viewed it as a prime takeover candidate.

If the deal goes through, it would bring together HBO, CNN, DC Studios, and Warner Bros.’ film library with Paramount+, Nickelodeon, and MTV, all under one umbrella.

As tariffs take root, August new vehicle prices climb by the most in more than 2 years

According to data from Cox Automotive, 17 vehicle brands raised prices of their new vehicles by more than 3% in August.

Ford Issues Recalls On Some Of Its Mach-E Mustangs And Aviators

Netflix taps Amazon to sell streaming ads in new partnership

Starting this fall, brands will be able to access Netflix’s premium ad slots using Amazon’s buying tech.

Netflix Headquarters

Bank branches are still closing at breakneck speed in the US

Institutions like Chase and Wells Fargo closed 76 locations in just six weeks over the summer, per the OCC.

Indianapolis - March 2016: Chase Bank III

business

9/9/25

Fox and News Corp slide as investors digest $3.3 billion Murdoch succession settlement

Fox and News Corp shares dropped on Tuesday after Rupert Murdoch’s heirs agreed to a $3.3 billion settlement to resolve a long-running succession drama.

Under the deal, Prudence, Elisabeth, and James Murdoch will each receive about $1.1 billion, paid for in part by Fox selling 16.9 million Class B voting shares and News Corp selling 14.2 million shares. The stock sales will raise roughly $1.37 billion on behalf of the three heirs.

The new trust for Lachlan Murdoch will now control about 36.2% of Fox’s Class B shares and roughly 33.1% of News Corp’s stock, granting him uncontested voting authority over both companies for the next 25 years. Originally, the Murdoch trust was designed to hand over voting control of Fox and News Corp to Prudence, Elisabeth, Lachlan, and James after his death.

Investors are weighing the trade-off. Clear leadership under Lachlan may resolve conflict internally, but the share dilution, executed at a roughly 4.5% discount, means long-term investors now hold slightly less clout than before.

Both companies’ stocks were trading close to all-time highs prior to the announcement.

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