Alan Shaw, CEO, Norfolk Southern Scott Mlyn | CNBC A second Norfolk Southern union said Friday it would back activist Ancora’s efforts to elect seven directors and oust CEO Alan Shaw, a sign of labor dissatisfaction with management and a key endorsement for Ancora as Norfolk Southern’s shareholder meeting nears. The BLET Teamsters, which represents … Read more
Chris Ratcliffe | Bloomberg | Getty Images Elliott Management has built a roughly $1 billion stake in miner Anglo American in recent months, a person familiar with the matter told CNBC. The activist’s U.K. arm, Elliott Advisors, in a regulatory filing Friday confirmed after publication that it had a 2.5% interest in Anglo American. The … Read more
The Onion has been sold, again. G/O Media has the humor brand to four anonymous investors calling themselves “Global Tetrahedron,” name after one of the site’s own gags. G/O chief Jim Spanfeller confirmed the news to staffers Thursday in a memo. The acquiring company “is made up of four digital media veterans with a profound … Read more
Paramount Global shares jumped 13% Friday as investors cheered news that Sony Pictures Entertainment is talking with Apollo Global Management about joining Apollo’s bid for Paramount. The beleaguered stock ended the day at $12.44 after registering more than twice its normal trading volume. Shares reached their highest point since February, offering fresh evidence that many … Read more
Remember those rumors, oh, eight years ago about how Sony was a target for acquisition? No more. Still, don’t say merger yet. Deadline has confirmed that Sony Picture Entertainment CEO Tony Vinciquerra has been in talks with Apollo Global Management about making a go for Paramount. This despite Skydance/Redbird Capital being in exclusive talks with … Read more
TGI Fridays logo is seen on one of their branches. John Lamparski | Lightrocket | Getty Images TGI Fridays and Hostmore, the chain’s U.K. franchisee, announced plans to merge on Tuesday. The all-share deal is valued at 177 million pounds ($220 million). If it closes, TGI Fridays, best known for its potato skins, chicken wings … Read more
Macy’s flagship store in Herald Square in New York, Dec. 23, 2021. Scott Mlyn | CNBC Department store Macy’s on Wednesday said it had settled its proxy fight with an activist group led by Arkhouse Management, and that it would add two new directors to its 15-person board. The reshuffle moves Macy’s closer to a … Read more
Paramount Global‘s beleaguered stock faltered Monday as investors fretted over the ongoing talks between controlling shareholder National Amusements Inc. and Skydance Media. As the moon blocked out the sun across a swath of the U.S. in a total eclipse, the stock behaved accordingly, falling almost 8% on heavier-than-average trading volume to finish at $11.06. The … Read more
Could Scottish soccer be the next to benefit from Hollywood investment? In a situation reminiscent of Ryan Reynolds and Rob McEIhenney’s takeover of Welsh soccer side Wrexham, former Netflix international originals chief Erik Barmack looks set to acquire a stake in Motherwell FC. A report in the Scottish Daily Mail has named Barmack as the … Read more
A pedestrian walks past a Vodafone store in central London on May 16, 2023. British mobile giant Vodafone is to axe 11,000 jobs over three years in the latest cull to hit the tech sector, as new boss Margherita Della Valle slammed recent performance. Adrian Dennis | AFP | Getty Images The U.K. competition regulator … Read more
