Sony Pictures Entertainment’s Pure Flix, a faith-based content streaming service, is merging with Great American Media, a new cable rival to the Hallmark Channel. This merger will give Pure Flix a place in front of traditional TV viewers and also bolster the content for Great American’s TV networks, Great American Family and Great American Living.
Enterprise
Elon Musk announced via Twitter that he will be stepping down as CEO of Twitter and transitioning “to being exec chair & CTO, overseeing product, software & sysops.” Musk also revealed that his successor, an unnamed woman, will start in about six weeks. Investors React Positively to the News Tesla shares jumped more than 2%
The Washington Commanders, a professional American football team, has been sold to a consortium led by private-equity financier and professional sports team owner Josh Harris for approximately $6 billion. The deal is still subject to the NFL’s approval, which requires 24 of the 32 votes to approve the sale. The purchase is set to exceed
The U.S. government has initiated a $500 million investment program in an effort to create tech innovation hubs in metro areas across middle America. The Department of Commerce’s Regional Technology and Innovation Hub program, known as Tech Hubs, has issued its first notice of funding opportunity (NOFO), which allows eligible groups across the country to
CNN’s new CEO, Chris Licht, has been working to rebrand the cable news network as a politically neutral, fact-based source of news since Discovery’s merger with WarnerMedia last year. The network’s recent town hall event with former President Donald Trump was an opportunity to showcase this new approach. However, the event failed to hold Trump
SoftBank’s Vision Fund has recorded a loss of ¥4.3tn ($32bn) for the fiscal year ending on Mar. 31, 2021, compared to a loss of ¥2.55tn in the same period a year ago. The tech-heavy Nasdaq 100 index declined by 11% over SoftBank’s fiscal year, despite a rally in tech stocks. SoftBank’s overall investment losses at
China’s largest semiconductor manufacturing company, Semiconductor Manufacturing International Co. (SMIC), has reported a decline in quarterly revenue for the first time in over three years due to a glut in chips and lack of demand. SMIC posted revenue of $1.46 billion in Q1 2021, a 20.6% YoY decrease. The company’s net profit also fell to
Sadek Wahba, the founder and chairman of I Squared Capital, a global infrastructure management company that currently manages around $40 billion worth of investments in infrastructure projects in over 50 countries, said investing in infrastructure and climate-related technology is the future. The next few decades are critical for humanity to respond to climate change. They’re
Coinbase, a cryptocurrency exchange, has been under regulatory scrutiny in the United States. The industry had a grim year, with major companies such as FTX and Terra failing, prices plunging, and investors losing billions of dollars in the process. The U.S. Securities and Exchange Commission (SEC) served Coinbase with a Wells Notice earlier this year,
Tesla CEO Elon Musk and Texas Governor Greg Abbott joined forces on Monday to break ground at the site of Tesla’s new lithium refinery in Corpus Christi. The electric vehicle manufacturer has pledged $375 million to build the facility, which is expected to help secure a domestic supply of lithium hydroxide, a crucial ingredient needed