SCOOP: Oracle founder and chairman Larry Ellison will provide the lion's share of financing for his son's takeover of Paramount Global. Ellison's family will invest around $6 billion, while private equity firm RedBird Capital Partners will contribute the remaining $2 billion.
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We are a new media company delivering vital, trustworthy news and analysis in the most efficient, illuminating and shareable ways possible. We offer a mix of original and smartly narrated coverage of media trends, tech, business and politics with expertise, voice AND smart brevity — on a new and innovative mobile platform. At Axios — the Greek word for worthy — we provide only content worthy of people's time, attention and trust. Careers: https://www.axios.com/careers
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Updates
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Cyberattacks have sent shockwaves across the health care industry, but regulators and providers don't agree on how to get a handle on the problem.
Health care industry pushes back against cybersecurity proposal
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The mattress industry is slumping, but federal regulators say that's not enough to justify the biggest manufacturer buying the biggest retailer.
Mattress sellers are having a nightmare
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Artificial intelligence is keeping the VC ecosystem afloat. It accounted for more than 40% of new private U.S. "unicorns" in the first half this year, and over 60% of the increase in total venture-backed valuation, per PitchBook.
AI is the engine behind VC gains
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Physician burnout rates have dipped below 50% for the first time since the COVID-19 pandemic began, according to survey data from the American Medical Association.
Physician burnout rates improve
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June was the warmest such month on record worldwide, extending a heat streak even longer. The monthly milestone increases the odds that 2024 will eclipse 2023 as the warmest year, and exceeds the crucial 1.5°C threshold in the Paris Agreement.
Earth sees warmest June on record, boosts odds of warmest year
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"Nothing is more important to Southwest than the safety of our customers and employees," a spokesperson tells Axios. Southwest Airlines have been involved in incidents, forcing safety to the forefront, even as a corporate skirmish is primed to escalate.
Southwest incidents in the spotlight amid boardroom battle
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#Breaking: It's a done deal. Paramount's board has approved a deal to merge with Skydance Media. — The deal breathes new life into an iconic Hollywood brand that's lost more than 70% of its market value since 2019, when Shari Redstone recombined Viacom and CBS. — As expected, Skydance CEO #DavidEllison becomes CEO and chair of "New Paramount." RedBird's #JeffShell (former CEO of NBCU) becomes President. — Deal will require regulatory approval. Billions in synergies are anticipated. More on Axios:
Paramount Global agrees to merge with Skydance Media
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The announced $2.65 billion acquisition of Neiman Marcus by Saks Fifth Avenue will bring those two brands under the same roof as Bergdorf Goodman, Barneys, and Lord & Taylor — all backed by tech giants Amazon and Salesforce. By investing in Saks Global, Amazon and Salesforce will be able to help the retailer develop cutting-edge personalization and logistics. In return, they may gain access to hugely valuable first-party data on who luxury shoppers are and how they behave.
Saks, Neiman Marcus merger is a luxury-tech fusion with Amazon, Salesforce
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