Finance

Investors calling for 'regime change' at Nike amid stock crisis

Daily - 07/09/2024

Wall Street is “openly calling for ‘regime change’ in upper management” at Nike as the company is “in a crisis,” according to Sara Germano of the FINANCIAL TIMES. Consumers are “not as fond of the brand’s classic shoes” as they “used to be.” CEO John Donahoe has “overseen...

Nike cuts roughly 40% of top positions in latest mass layoff

Daily - 07/08/2024

Nike “cut heavily from the top” in its recent mass layoff, according to sources cited by Matthew Kish of the Portland OREGONIAN. Nike said in April that it would eliminate 740 Oregon jobs, “part of a 2% reduction in its global workforce” and an ongoing $2B cost-cutting...

Paramount, Skydance officially agree to merger

Morning Buzz - 07/08/2024

Paramount Global has "officially agreed to merge" with David Ellison ’s Skydance Media in a "complicated deal that ends the Redstone family’s involvement with the Hollywood company." Skydance and its investors have agreed to spend more than $8B to acquire National Amusements, the family company that...

Comcast SportsTech accelerator adds Notre Dame

Power Up Newsletter - 07/09/2024 | Morning Buzz - 07/08/2024

The Comcast NBCUniversal SportsTech accelerator has added Notre Dame as a program partner. SportsTech, which is operated jointly by Comcast and Boomtown, pairs an annual class of ten sports startups with a group of advisor companies either owned by or partnered with Comcast and its subsidiaries. Notre...

Report: Paramount and Skydance reach preliminary agreement to merge

Skydance Media has “reached a preliminary agreement” to buy Shari Redstone’s family company National Amusements and merge with Paramount Global, “rekindling deal talks that fizzled last month,” according to Jessica Toonkel and Lauren Thomas of the WALL STREET JOURNAL. Sources said that National Amusements, which owns about 77% of...

LEAD adds Cortenraede as new general partner

Morning Buzz - 07/02/2024

LEAD Sports and Health Tech Partners will today announce the addition of Danny Cortenraede and his InStudio Ventures as LEAD’s newest general partner. LEAD sits over a collection of accelerator programs and investment funds, giving shareholders in the firm exposure to sports and health tech...

Why potential sale of Boston Celtics could be coming at opportune time

Unpacks Newsletter - 07/01/2024 | Unpacks Lite Newsletter - 07/01/2024

The Boston Celtics ownership group — led by Causeway co-founder and partner Wyc Grousbeck — is planning to sell the franchise , with sources saying the timing is opportune and fiscally prudent. With the NBA on the verge of a media rights...

Silva joins SeventySix Capital to lead advisory arm

Journal - 07/01/2024

SeventySix Capital has brought on longtime sports executive Carlos Silva as a partner in the firm and as president of its consultancy division, SeventySix Capital Sports Advisory. Silva was most recently the CEO of former SeventySix portfolio company C360, the maker of the NFL’s PylonCam....

Nike shares drop nearly 20%, worst day on record

Weekend Rap - 06/30/2024

Nike shares on Friday “tumbled nearly 20%” after the company said that it expected sales to decline in its new fiscal year. It was the “biggest one-day drop in Nike history,” wiping out roughly $28B in shareholder wealth. Even before Friday’s tumble, Nike’s stock had been “heading steadily downward”...

Nike cuts FY25 guidance after seeing 'slowest annual sales gain' since 2010

Morning Buzz - 06/28/2024

Shares of Nike “plunged” on Thursday after the retailer cut its full-year guidance and said that it “expects sales to drop 10% during its current quarter” as the company warned of “soft sales in China” and “uneven” consumer trends across the globe, according to Gabrielle Fonrouge of CNBC.com. Nike said...

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Quote Of the day

We haven't even begun the process, but the family has agreed to find a new ownership group coming in that will make everyone proud of the Celtics going forward.
-- Celtics majority owner Wyc Grousbeck, in his first public comments since announcing that his ownership group plans to put its stake in the franchise up for sale. “Closing Bell,” CNBC, 7/8.

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Finance

Investors calling for 'regime change' at Nike amid stock crisis

Nike cuts roughly 40% of top positions in latest mass layoff

Paramount, Skydance officially agree to merger

Comcast SportsTech accelerator adds Notre Dame

Report: Paramount and Skydance reach preliminary agreement to merge

LEAD adds Cortenraede as new general partner

Why potential sale of Boston Celtics could be coming at opportune time

Silva joins SeventySix Capital to lead advisory arm

Nike shares drop nearly 20%, worst day on record

Nike cuts FY25 guidance after seeing 'slowest annual sales gain' since 2010

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