Jessica Reif, Managing Director of Bank of America Merrill Lynch joins Cheddar to discuss the changing media landscape in America, specifically the Disney / Fox 21st Century deal set to close soon.
According to Reif, this deal will reshape the entire media landscape. She talks about the Murdoch family and their willingness to sell. She says the deal will make other companies think about what they want to be, and how they will compete in the modern era.
Disney isn't interested in Fox's news or sports programming, and that may be because of regulatory issues. Reif says when it comes to sports, the best reach is still, by far, broadcast. She expects sports to stay on traditional TV for a long, long time.
Reif also talks about the amount of money the FANG stocks (Facebook, Amazon, Netflix and Google) are spending on video content, and how they will compete with the traditional outlets.
Sony's PlayStation 5 console has now passed 50 million units sold.
FedEx decreased its full-year revenue forecast after reporting lower-than-expected quarterly profits in its latest results.
Cora is among dozens of young kids across the U.S. poisoned by lead linked to tainted pouches of the cinnamon-and-fruit puree
The IRS said Tuesday it is going to waive penalty fees for people who failed to pay back taxes that total less than $100,000 per year for tax years 2020 and 2021.
Rite Aid has been banned from using facial recognition technology for five years over allegations that a surveillance system it used incorrectly identified potential shoplifters, especially Black, Latino, Asian or female shoppers.
The union representing Southwest Airlines pilots says it reached a new contract agreement in principle with the airline following three years of negotiations.
U.S. Bank has been hit with a $36 million fine for freezing debit cards that distributed unemployment benefits during the pandemic.
Construction of new homes rose by double digits in November, according to data from the Commerce Department.
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Stocks opened lower after the opening bell and on track for its first decline in 10 days after a recent winning streak.
