 |
|
|
|||||
Warner Bros Discovery said on Monday it would split into two companies, separating its studios and streaming business from its fading cable television networks as the parent of HBO and CNN looks to compete better in the streaming era. The breakup is the latest sign of the great unraveling of decades of media consolidation that have created global conglomerates spanning content creation, distribution and in some cases, telecommunications. The strategic reset would provide Warner Bros Discovery’s streaming unit more room to scale by producing hit studio content without being bogged down by the declining cable networks business. Its CEO David Zaslav will lead the streaming and studios business after the breakup, while CFO Gunnar Wiedenfels will head the global networks unit. “By operating as two distinct and optimized companies in the future, we are empowering these iconic brands with the sharper focus and strategic flexibility they need to compete most effectively in today’s evolving media landscape,” Zaslav said. The separation for the company formed out of a merger between WarnerMedia and Discovery in 2022 will be structured as a tax-free transaction and is expected to be completed by mid-2026. WBD shares were up nearly 6% in premarket trading. The company had laid the groundwork for a possible sale or spin-off of its declining cable TV assets in December by announcing a separation from its streaming and studio operations. The split will align the company with Comcast, which is spinning off most of its cable TV networks such as MSNBC and CNBC. Bank of America research analyst Jessica Reif Ehrlich has said Warner Bros Discovery’s cable television assets are a “very logical partner” for Comcast’s new spin-off company. WBD also said on Monday it launched tender offers to restructure its existing debt, funded by a $17.5 billion bridge facility provided by J.P. Morgan. The bridge loan is expected to be refinanced ahead of the planned separation, it said, adding that global networks will retain up to a 20% stake in streaming and studios, which it plans to monetize to further reduce debt. J.P. Morgan and Evercore are advising WBD on the deal, while Kirkland & Ellis is serving as legal counsel. Aditya Soni and Akash Sriram, Reuters
Category:
E-Commerce
Ballers, a social multisport venue and members’ club, just received a $20 million Series A investment joined by tennis star Andre Agassi ahead of its Philadelphia flagship opening in July. With the location, Ballers aims to combine competition with culture. It will include courts where members can play pickleball, squash, and padel. There will also be a golf practice area with real sand traps and a large turf field where members can play soccer. These are all social sports, cofounder David Gutstadt tells Fast Company. Theyre cool, relevant, elevated, but most importantly social. Courting crosscourt players Pickleball, specifically, is Americas fastest growing sport; participation has increased by 311% in the last three years, according to data from the Sports and Fitness Industry Association (SFIA). But almost half of racket sports players are crosscourt consumers, meaning they enjoy playing more than one of these sports, according to research by RacquetX. [Rendering: Ballers] And racket sports as a whole are in a growth phase, with five out of seven increasing their year-over-year participation totals, according to SFIA. By creating a dedicated space for these sports, Gutstadt says he hopes to bring country club sports to the city. As consumers seek richer social interactions, competition has evolved from pastime to platform, Lloyd Danzig, a managing partner at Sharp Alpha, a firm that co-led the investment, wrote to Fast Company. More locations on the horizon Founders Gutstadt and Amanda Potter say that Ballers is the first of its kind: a multisport venue with a focus on hospitality and creating a culture. Outside of just offering sports practice and competition areas, the Ballers space also includes a full bar, a restaurant, and social activations like DJs or art installation pop-ups. The Ballers space has been constructed from the shell of an old power plant, giving the club a unique but grand and majestic look, Potter says. Throughout the rest of 2025 and 2026, expect to see Ballers locations pop up in Boston, Downtown Los Angeles, and Miami. [Rendering: Ballers] Ballers has amassed a group of celebrity and athlete investors that represent the venues array of sports offerings. These investors include tennis stars Agassi, Kim Clijsters, and Sloane Stephens; pickleballer Connor Garnett; and soccer player/padel aficionado Maarten Paes. As lifelong tennis lovers, Gutstadt and Potter told Fast Company that working with Agassi was a dream come true. Agassi was the obvious first pick to represent Ballers, says Potter, because he represents a shift in racket sports fashion and culture. Andre Agassi came into a sport that was pretty buttoned up and properyou know, white collar shirts and Wimbledon mentality, Potter says. He came in with a bit of an attitude and shook things up. And thats what we want for Ballers. Correction: Agassi took part in the investment but did not lead it as an earlier version of this story and headline stated.
Category:
E-Commerce
A significant recall of 1.7 million dozen eggs is underway. The eggs were believed to be the source of a salmonella outbreak that has sickened dozens of people across seven states and so far led to 21 people being hospitalized. They were distributed to several major retailers, including Walmart and Safeway. Heres what you need to know about the recall and outbreak. Shell eggs recalled due to salmonella fears On June 6, the August Egg Company of Hilmar, California, issued a voluntary recall of 1.7 million dozen eggs produced at its facilities. The company initiated the recall after it discovered that the eggs are feared to have been contaminated with salmonella, a potentially deadly bacterium. On the same day, the U.S. Food and Drug Administration (FDA) published August Egg Companys recall notice on its website, while the U.S. Centers for Disease Control and Prevention (CDC) announced an investigation into a multistate outbreak of salmonella linked to eggs. Dozens sickened and hospitalized across 7 states The CDCs investigation has found that eggs produced by August Egg Company are linked to dozens of cases of people becoming ill after consuming them. The agencys latest data shows that there are so far 79 cases linked to the August Egg Companys recalled products. Of those cases, 21 have resulted in hospitalizations. Thankfully, no deaths have been reported so far. The cases are spread across seven states: Arizona, California, Kentucky, Nebraska, New Jersey, Nevada, and Washington. Of those states, California has the most number of cases, at 63, followed by Washington and Nevada, with four cases each. Arizona has had three cases, Nebraska and New Jersey two cases, and Kentucky has one. However, many people who become sick with salmonella see their symptoms resolve without contacting a health professional, so the actual number of cases could be higher. When and where were the eggs distributed? According to the notice posted on the FDAs website, the recalled eggs were distributed between February and May. The retail locations that received the eggs include: Walmart Save Mart FoodMaxx Lucky Smart & Final Safeway Raley’s Food 4 Less Ralphs The eggs were distributed between February 3 and May 15, to Save Mart, FoodMaxx, Lucky, Smart & Final, Safeway, Raley’s, Food 4 Less, and Ralphs locations in California and Nevada. Those eggs had sell-by dates ranging from March 4 to June 4. The eggs were also distributed between February 3 through May 6, to Walmart stores in California, Washington, Nevada, Arizona, Wyoming, New Mexico, Nebraska, Indiana, and Illinois. Those eggs had sell-by dates ranging from March 4 to June 19. What eggs are included in the recall? Over two dozen egg products packaged under multiple brands are included in the recall. The recall notice states that the eggs were packaged in fiber or plastic cartons and have a plant code number P-6562 or CA5330 with the Julian Dates between 32 and 126. Photographs of the cartons can be found here. The item names of the egg products included in the recall, along with their plant number and carton UPC are: Item NamePlant NumberCarton UPCClover Organic Large Brown 12 eggsP-6562 or CA-5330070852010427First Street Cage Free Large Brown Loose 1 case=150 eggsP-6562 or CA-5330041512039638Nulaid Medium Brown Cage Free 12 eggsP-6562 or CA-5330071230021042Nulaid Jumbo Brown Cage Free 12 eggsP-6562 or CA-5330071230021011O Organics Cage Free Large Brown 6 eggsP-6562 or CA-5330079893401522O Organics Large Brown 12 eggsP-6562 or CA-5330079893401508O Organics Large Brown 18 eggsP-6562 or CA-5330079893401546Marketside Organic Large Cage Free Brown 12 eggsP-6562 or CA-5330681131122771Marketside Organic Large Cage Free Brown 18 eggsP-6562 or CA-5330681131122801Marketside Large Cage Free Brown 12 eggsP-6562 or CA-5330681131122764Marketside Large Cage Free Brown 18 eggsP-6562 or CA-5330681131122795Raleys Large Cage Free Brown 12 eggsP-6562 or CA-5330046567033310Raleys Large Cage Free Brown 18 eggsP-6562 or CA-5330046567040325Raleys Organic Large Cage Free Brown 12 eggsP-6562 or CA-5330046567028798Raleys Organic Large Cage Free Brown 18 eggsP-6562 or CA-5330046567040295Simple Truth Medium Brown Cage Free 18 eggsP-6562 or CA-5330011110099327Simple Truth Large Brown Cage Free 18 eggsP-6562 or CA-5330011110873743Sun Harvest Organic Cage Free Large Brown 12 eggsP-6562 or CA-5330041512131950Sun Harvest Organic Cage Free Large Brown 18 eggsP-6562 or CA-5330041512145162Sunnyside Large Brown Cage Free 12 eggsP-6562 or CA-5330717544211747Sunnyside Large Brown Cage Free 18 eggsP-6562 or CA-5330717544211754Sunnyside Organic Cage Free Large Brown 12 eggsP-6562 or CA-5330717544201441Sunnyside Organic Cage Free Large Brown 18 eggsP-6562 or CA-5330717544211761Loose Small Brown Cage Free-1 box= 6 flats (1 flat= 30 eggs)P-6562 or CA-5330NALoose Medium Brown Cage Free -1 box= 6 flats (1 flat= 30 eggs)P-6562 or CA-5330NALoose Medium Brown Organic -1 box= 6 flats (1 flat= 30 eggs)P-6562 or CA-5330NALoose Large Brown Organic-1 box= 6 flats (1 flat= 30 eggs)P-6562 or CA-5330NALoose Jumbo Brown Cage Free -1 box=5 flats(1 flat=20 eggs)P-6562 or CA-5330NALoose Jumbo Brown Organic -1 box=5 flats(1 flat=20 eggs)P-6562 or CA-5330NA What is salmonella? Salmonella is a potentially deadly bacteria that is usually contracted after eating contaminated foods. The CDC says that typical symptoms of a salmonella inection include diarrhea, fever, and stomach cramps, which typically present between six hours and six days after exposure to the bacteria. Typical salmonella infections last between four and seven days, and most people recover without treatment. However, salmonella infections can also cause severe illness in individuals, especially those who are younger than 5 years old, older than 65 years old, or have weakened immune systems. What should I do if I have the recalled eggs? According to the CDC, if you have the recalled eggs in your possession, you should not consume them. Instead, you should throw the eggs out or return them to their place of purchase for a refund. You should also sanitize all surfaces that may have come into contact with the eggs. Consumers who think they may have the recalled eggs in their possession are urged to read the full recall and investigation notices.
Category:
E-Commerce
Today, Apple is holding its annual Worldwide Developers Conference (WWDC). While WWDC is historically a developer-focused conference, where programmers who create iPhone, Mac, and iPad apps can attend online sessions to learn about Apple’s latest software technologies, it is also an event that draws significant interest from consumers and the media. Thats because Apple kicks off each WWDC with a keynote presentation, in which the company showcases its upcoming softwarethe operating systems that power its devices, including the iPhone, iPad, Mac, Apple Watch, Apple TV, and more. These operating systems will be previewed for the first time today before they become available to the general public in the fall. Fast Company has a detailed report on the software announcements and features that Apple is expected to make at todays WWDC25 keynote. All of the companys operating systems are expected to get a visual design overhaulthe most radical in years. The operating systems Apple is expected to reveal include iOS 26, iPadOS 26, macOS 26, tvOS 26, visionOS 26, and watchOS 26. You can see those announcements by watching the WWDC25 keynote when Apple broadcasts it later today. Heres how. What time is Apples WWDC 25 keynote? Apples 2025 Worldwide Developers Conference keynote takes place today, Monday, June 9. The keynote starts at 10 a.m. Pacific Time. Heres how that time translates into times in other time zones around the world: Hawaii Standard Time (HST): 7 a.m. Pacific Time (PT): 10 a.m. Mountain Time (MT): 11 a.m. Central Time (CT): 12 p.m. Eastern Time (ET): 1 p.m. BST (British Summer Time): 6 p.m. CET (Central European Time): 7 p.m. EEST (Eastern European Summer Time): 8 p.m. MSK (Moscow Standard Time): 8 p.m. IST (Indian Standard Time): 10:30 p.m. ICT (Indochina Time): 11 p.m. CST (China Standard Time): 1 a.m. (June 10) JST (Japan Standard Time): 2 a.m. (June 10) AWST (Western Australia Standard Time): 2 a.m. (June 10) AEST (Australian Eastern Standard Time): 3 a.m. (June 10) NZST (New Zealand Standard Time): 5 a.m. (June 10) How can I livestream Apples WWDC 25 keynote? Apple offers a variety of ways for you to watch its WWDC25 keynote. Heres how: On Apple.com here. On YouTube here. On the Apple TV app on the iPhone, iPad, Mac, Apple TV, Windows PC, or other supported device here. You can also watch the WWDC25 keynote right here on FastCompany.com. Weve embedded the WWDC25 YouTube stream on this page below.
Category:
E-Commerce
As the director of commercial engagement for the Defense Innovation Unit (DIU), a Department of Defense (DOD) organization that funds startups developing cutting-edge weapons technology for the military, Sarah Pearson is well acquainted with keeping secrets. Whats surprising is that her team often keeps secrets from the very startups it recruits. Its not for any cloak-and-dagger reason, just bureaucracy. With security clearances taking up to 18 months, Pearsons team often supplies startups with fake datamade-up enemy capabilitiesto simulate real defense scenarios, so they have something to work on until they’re cleared to access classified material. In the fast-moving world of AI, if it takes 18 months . . . I no longer need that company, their model is already obsolete, she says. Enter Nooks, a startup that acts as a kind of coworking space for classified communication. The companys cutesy name and squirrel logo belie its purpose: to build and maintain a network of these high-tech, espionage-proof, on-demand facilities where startups can handle classified informationspaces known as SCIFs, or sensitive compartmented information facilities. Traditionally built inside military sites, defense contractor offices, and government buildings, SCIFs are fortified rooms designed to prevent electronic surveillance or intrusion. They require layers of specialized material, electronic shielding, metal reinforcements, and heavy security. Nooks was founded in 2021 by former Navy pilot Sean Blackman and two fellow aviators to solve a paradox plaguing national security: you need a SCIF to win a defense contract, but probably dont have the funds or permission to build one without already having a contract. Instead, they asked, what if startups could rent access to SCIFs without the millions in upfront costs and years it takes to construct? The firm just raised a $25 million Series A round, led by New Yorks Zigg Capital, in conjunction with the Space Development Agency within the Air Force, valuing the firm at $105 million. It now plans to launch its first three locations this year: in Arlington, Virginia; Colorado Springs, Colorado; and El Segundo, California. The idea is to offer classified infrastructure as a service, with 50,000-square-foot-sites subdivided into different classification levels, and eventually, grow to a network of 100 sites nationwide, especially areas with tech talent. Theres only so much you can do unclassified before it becomes, ‘well, this was a nice science project,’ Blackman says. Where traditional SCIFs are like buying a home and companies like Westway offer long-term leases, Nooks is more like Airbnb for classified work. For startups, that means faster entry into military innovationand for the military, a broader talent pool. ‘An outdated process’ SCIFs must be located in buildings without foreign ownership or proximity to adversarial entities, which is why many operators buy entire buildings outright. The design and security standards every SCIF must adhere to, set by the Office of the Director of National Intelligence, evolve sporadically as surveillance threats shift. (Pearson says the reason for the last SCIF update, ICD 705, which contained a laundry list of updates, remains classified.) Meanwhile, many existing SCIFs are aging out of use, and the upkeep costs are adding up. Virginia Representative Rob Wittman, a member of the Houses Defense Modernization Caucus, says older SCIFs are small, isolated, and look like a walk-in cooler slammed into the corner of the building. These older spaces dont make for an attractive workspace for todays budding tech talent, and the cost of replacing offers a huge opportunity to Blackman. Nooks seeks to untangle a bureaucratic bottleneck that defense and tech industry advocates say stifles military innovation. Battlefield technology is rapidly evolving, and startups want to take advantage of federal funding for dual-use tech that has civilian and battlefield applications, and funding is flowing. Already this year, over $3 billion has been invested in defense startups, according to Pitchbook, and the Pentagons $1 trillion budget will focus on high-tech weapon systems like drones, cybersecurity, robotics, and AI. Blackman, who had a stint at Facebook and experience in the defense innovation space, saw an opportunity to get government moving more like a startup; beginning in 2021, he and his colleagues interviewed hundreds of people across the defense innovation space to figure out their pain points and earn the trust needed to open Nooks, and eventually landed a small Air Force contract to start testing out the concept. But to make these startup investments work requires classified info and sharing enemy battlefield capabilities; some DoD requests for proposals cant even be seen outside a SCIF. The large defense contractorscalled primeshave historically taken the overwhelming chunk of defense spending, and maintain a chokehold on SCIF access. But startups often lack such access, and some go to extreme lengths: hiring staff with preexisting clearances, flying employees across the country to SCIFs, or even selling to a prime just to get in the room. Building a new SCIF can cost millionsan immediate barrier to entry that comes at a time when warfare is changing faster than ever. Drone development alone has created a cat-and-mouse game, says Eric Snelgrove, founder of the consultancy Revere Federal Strategies. Every four to six months, as new GPS, unmanned aerial vehicle (UAV), or electronic warfare tech gets developed, previous drone models become irrelevant. A startup working on this tech needs classified updates of these rapidly changing conditions to make sure their design is relevant, shortening the feedback loop to almost constant iteration. Wittman says the gap between the SCIF space we have and what we need is significant, though he wouldnt get into specific numbers for security reasons. Our defense ecosystem is still hampered by an outdated process that just isnt allowing us to be able to operate at the speed of relevance, he says. ‘A rear-view mirror nation’ Ken Biberaj, an executive managing director at the real estate brokerage Savills, says SCIF access is fast becoming a standard question among advanced manufacturing and dual-use startups he works with. Much of my time now is spent with new defense/dual-use companies looking for a site and the question of a SCIF will always come up, he says. San Diego State University sees the potential of locating a Nooks site within a forthcoming mixed-use campus extension featuring 1.6 million square feet of innovation space, allowing students and startups to do classified work on topics like material science research or cybersecurity. Officials see it as a magnet for engineering and research talent, and funding. The demand for SCIF access grows, which the Pentagon is taking note of, but the challenge remains how fast the government can get more startups in the right, highly-secure rooms. We’ve always had the luxury of being what I call a rear-view mirror nation, says Wittman. Weve just had to look and see how far ahead of our adversaries we are. Today, we have to be a windshield nation, see that there are some folks ahead of us, and not only press the gas pedal, but figure ut how were going to be innovative and creative. The Trump administration has focused on bringing new, innovative companies into the defense-industrial complex and signed an executive order on defense procurement reform. Pearson says the DIU and others are trying to streamline the clearance process; shes optimistically aiming to cut it to three months. The National Defense Authorization Act budget approved last year also has $100 million budgeted for the creation of more shared classified workspaces, some of which will support Nooks. The technology stack that you need to fight a desert war in the Middle East is vastly different from what you need to fight China, right? says Blackman. The companies that the DOD tends to work with dont have that technology; theyre great with planes and tanks and missiles, but they suck at software. Theres just a whole sector thats really good at this stuff that wasnt meaningfully being engaged in the defense business.
Category:
E-Commerce
Sites : [44] [45] [46] [47] [48] [49] [50] [51] [52] [53] [54] [55] [56] [57] [58] [59] [60] [61] [62] [63] next »