According to rumors, Disney considered launching an ESPN spin-off
As Disney expands its streaming business, the company is debating whether to sell ESPN, its most closely related product to linear TV.
According to Puck media, Disney CEO Bob Chapek has asked his key associates to look into the possibility of an ESPN spinoff. Several private equity firms are said to have approached Disney about the possibility. In a separate report, an individual with close ties to Disney who preferred anonymity called the accusations false.
The Mouse has discovered that the goals of its flagship sports network are not always in sync with those of the company’s other divisions.
- Because ESPN pays wired networks $10 per cable subscriber per month, if someone cancels their cable subscription in favor of ESPN Plus, which costs $6.99 per month or $69.99 per year, Disney loses money.
- ESPN is required by law to follow the terms of its long-term rights agreements with linear suppliers. In August, when discussing the possibility of integrating Disney +, ESPN +, and Hulu, Disney CEO Bob Chapek mentioned the a€oeconstraintsa€ on current rights deals.
- Disney Plus had 116 million subscribers as of July 3rd. ESPN Plus had 14.9 million subscribers.
- If Disney splits into two companies with different priorities, ESPN might be able to embrace sports betting more fully.
According to reports, the company is looking to license its name to a bookmaker in a deal worth at least $3 billion; however, the company has not yet established its betting platform.
Google’s acquisition of Fitbit is currently being scrutinized by regulators
Although Google completed its acquisition of Fitbit in January, regulatory authorities in the United States and Australia have yet to approve the transaction.
The US Department of Justice and the Australian Competition and Consumer Commission, both of which are concerned with antitrust rules, have not yet begun their investigations into the $2.1 billion purchase, according to Rod Sims, the head of the Australian regulatory agency.
Sims clarified his agency’s ongoing investigation into whether the transaction raises any privacy concerns due to the vast amount of customer data held by the internet giant on Friday.
Google has stipulated that it will limit the use of Fitbit data in the targeting of its advertisements to receive approval from the European Commission in September 2020.
Among other large technology and fitness companies in the category, Google’s acquisition of Fitbit marks the company’s significant entry into wearables. It should be noted that Google and Samsung share a wearable technology platform.
- The Apple Watch is compatible with the company’s Apple Fitness Plus workout subscription program and receives regular updates to its health-tracking capabilities.
- Both Facebook and the platoon are working on biometric data collection wearables.
- Facebook looked into integrating data from its Oculus Move virtual reality (VR) exercise system into Apple’s health app.
This is not Google’s first time being accused of antitrust violations
As part of an antitrust investigation into Google’s Android operating system, the European Commission imposed a record-breaking $5 billion fine on the company. This is the most severe penalty the governing body has ever imposed on a company. The fine was paid by Google earlier this month.
Another Crown gambling license that could be jeopardized
Crown Resorts’ designer is Alex Brooks
Crown Resorts was once considered a global gaming empire; however, the company now faces the possibility of having its flagship casino’s license revoked. Crown’s role in operating a casino in his hometown of Melbourne was the subject of a public inquiry, which revealed several potentially illegal activities by the corporation, including unpaid taxes and money laundering.
Because of these and other allegations, the Crown was found incompetent to run its $1.7 billion Sydney casino, which had only been open for a few months. His shirt-sleeve sponsorship with the South Sydney Rabbitohs rugby team was unaffected by the ruling.
However, since the Sydney revelation, multiple conversations about Crown mergers and acquisitions have failed, while an investigation into its Perth casino continues.
Featured Entertainment announced in July that it would abandon its $9 billion merger plan
Stone’s bid of $6.2 billion was turned down in March. Attempts to conduct interviews with Oaktree Capital were also futile.
Crown temporarily adopted a more aggressive stance in the sports betting industry after acquiring BetEasy in December 2014 and rebranding it as CrownBet three months later. Crown, on the other hand, decided to sell BetEasy for $117 million to reduce its debt.
The Victorian government received an assessment of the suitability of a potential casino site in Melbourne on Friday; however, the contents of the assessment will be kept confidential for the time being.
According to the Minister for the Victoria Games, the government will publish its final decision on the Crown’s operations in the Australian State on November 1.
The top NBA earners will take home a total of $714 million
Once-a-Day Jayne Kamin for USA TODAY Alex Brooks has a background in both sports and design. Following the release of Forbes’ ranking of the NBA’s highest-paid players, it was determined that the king had maintained his position at the top of the list for the eighth year in a row. This season, the top ten league employees will share a total payout of $714 million, a 28% increase over the previous season’s total.
Quadruple LeBron James, the reigning NBA MVP, is expected to earn a total of $ 111.2 million for the upcoming season, including his salary of $ 41.2 million and approximately $ 70 million in off-court earnings.
Several King James’ opponents and teammates are not far behind
- Stephen Curry, the Golden State Warriors’ goalkeeper, is currently worth $92.8 million.
- Kevin Durant, forward for the Brooklyn Nets ($87.9 million)
- Giannis Antetokounmpo, a Milwaukee Bucks player, has an $80.3 million contract.
- Russell Westbrook of the Los Angeles Lakers ($ 74.2 million)
- The salary cap imposed on NBA players has nearly doubled in the last decade. The salary cap is set at 112.4 million dollars this year, and the luxury tax level is set at 136.6 million dollars.
Off the court, the top NBA players are expected to earn more than $ 305 million this season, breaking the previous record of $ 260 million set the previous year, when the NBA was forced to reduce player salaries by 20% due to financial difficulties caused by the pandemic.
The league anticipates that the return of live fans and improved sponsorship options will allow it to return to pre-pandemic financial levels during the 2021-22 season. Tuesday marks the start of the NBA’s 75th season.