A new brand name is coming soon to a snack aisle near you.
Kellogg announced last year that it was splitting into two companies, one focused on snacks and the other on cereal. Now it's revealed what those new companies will be called. The cereal business will retain the name Kellogg's, while the snack business will be called Kellanova.
Steve Cahillane, CEO and chairman of the Kellogg Company and future CEO and chairman of Kellanova, explained in a press release that the name was a synthesis of old and new.
“The ‘Kell’ overtly recognizes our enduring connection to Kellogg Company, while ‘anova,’ which combines ‘a’ and the Latin word ‘nova,’meaning ‘new,’ signals our ambition to continuously evolve as an innovative, next generation, global snacking powerhouse," he said.
The company tapped employees for help in the naming process, inviting them to submit their suggestions along with other recommendations about the direction of the company. A number of those submissions included the word "nova," according to Kellogg
On the split, Calihane said, "we believe both businesses will be better positioned to focus on their distinct strategic priorities, execute with increased agility and operational flexibility, realize improved outlooks for profitable growth,and shape distinctive corporate cultures, each rooted in Kellogg Company’s strong values."
Disney content has gone dark on YouTube TV, leaving subscribers of the Google-owned live streaming platform without access to major networks like ESPN and ABC. That’s because the companies have failed to reach a new licensing deal to keep Disney channels on YouTube TV. Depending on how long it lasts, the dispute could particularly impact coverage of U.S. college football matchups over the weekend — on top of other news and entertainment disruptions that have already arrived. In the meantime, YouTube TV subscribers who want to watch Disney channels could have little choice other than turning to the company’s own platforms, which come with their own price tags.
President Donald Trump said he has decided to lower his combined tariff rates on imports of Chinese goods to 47% after talks with Chinese leader Xi Jinping on curbing fentanyl trafficking.
Universal Music Group and AI platform Udio have settled a copyright lawsuit and will collaborate on a new music creation and streaming platform. The companies announced on Wednesday that they reached a compensatory legal settlement and new licensing agreements. These agreements aim to provide more revenue opportunities for Universal's artists and songwriters. The rise of AI song generation tools like Udio has disrupted the music streaming industry, leading to accusations from record labels. This deal marks the first since Universal and others sued Udio and Suno last year. Financial terms of the settlement weren't disclosed.
Nvidia on Wednesday became the first public company to reach a market capitalization of $5 trillion. The ravenous appetite for the Silicon Valley company’s chips is the main reason that the company’s stock price has increased so rapidly since early 2023.
