After selling its business for $39 million last month, the company said it planned to buy powerful computer chips and rebrand itself NewBird AI.
Category: Mergers, Acquisitions and Divestitures
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5 Takeaways From the Live Nation Antitrust Trial
A jury found that the concert giant operated as a monopoly, a verdict that could have major reverberations in the music industry.
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Live Nation and Ticketmaster Illegally Monopolized Ticketing Market, Jury Finds
In a verdict that could have far-reaching consequences in the music industry, the live colossus that includes Ticketmaster was found to have violated antitrust laws.
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Netflix Leader Makes Rare Overture to Cinema Owners
Ted Sarandos attended a major movie theater conference for the first time and met with domestic and international owners, people familiar with the meetings said.
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Hollywood Heavyweights Sign Letter Opposing Paramount’s Deal for Warner Bros.
The letter warns that the deal will result in fewer jobs for creatives, along with higher costs and less choice for audiences.
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Fred Drasner, a Feisty Leader of The Daily News, Is Dead at 83
A former New York cabdriver who never lost his edge, he was co-publisher alongside Mort Zuckerman as he took on rival papers in the so-called tabloid wars.
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Gulf Backers Invest $24 Billion in Paramount’s Deal for Warner Bros.
Despite speculation that the Iran war could scuttle commitments from Saudi Arabia and other Middle Eastern countries, their investments have been secured.
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Despite High Oil Prices and Volatile Stocks, Companies See Openings for Deals
Bankers say companies are braving higher oil prices and whipsawing stock prices to seize on the willingness of federal antitrust enforcers to approve mergers.
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Bill Ackman’s Fund Offers to Buy Universal Music in $64 Billion Deal
The complex transaction pitched by the billionaire hedge fund manager would need to pass muster with the music label’s shareholders.
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Big Banks Seeking a Piece of SpaceX’s I.P.O. Must Subscribe to Elon Musk’s Grok
Mr. Musk is requiring Wall Street firms to purchase subscriptions to his A.I. chatbot if they want to advise on one of the largest initial public offerings in history.
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Allbirds, Once Silicon Valley’s Favorite Shoe, Sells for $39 Million
Despite once being valued at $4 billion, the company that made sneakers from Merino wool struggled to capture a wide customer base and turn a profit.