Disney plans to buy 21st Century Fox for $52 billion. The deal would give Disney access to a giant pool of content, just in time for the "Magic Kingdom" to take on Netflix and Amazon in the streaming industry.
Rob Marvin, Associate Features Editor at PCMag, explains what the Disney-21st Century Fox deal could mean for the digital media landscape. He says Netflix is too big to fail, but this deal would give Disney a major advantage in the streaming space.
ESPN also stands to benefit from the deal. If the deal goes through, Disney would then own Fox Sports and its various subsidiaries. Disney is planning on launching a new streaming service specifically focused on sports. ESPN Plus is supposed to launch in 2018.
Jack Dorsey is officially out as Twitter's CEO. Dorsey said in a statement that the platform is ready to move away from its founders and now will be led by current CTO Parag Agrawal.
Canada is looking to offset the rising cost of maple syrup by tapping its strategic reserve. Producers in Quebec, accounting for 73 percent of all the maple syrup in the world, will release half of its stockpile amounting to 50 million pounds worth.
Jared Kessler, CEO of real estate firm EasyKnock, joined Cheddar to talk about the housing market staying hot at a time it usually cools down. He attributed part of it to low interest rates and buyers wanting to secure homes before they begin rising again. "We're definitely, at some point, in for higher rates," he said. "Right now, that's a very tough question for the Federal Reserve."
Scott Helfstein, executive director of thematic investing at ProShares, joined Wake Up With Cheddar to break down the early data on Black Friday. Americans were ready to return to in-person shopping after the pandemic fueled a surge in online sales last year. Online sales dipped this year and in-store foot traffic topped 2020 but has yet to reach pre-pandemic levels. "It might not get much better than this for brick and mortar as we wrap up this year, whereas, the online has been in a long-term secular growth trend," he said.
The holidays are here, which means many will raise a glass. In fact, data shows the average American doubles their booze intake between Thanksgiving and New Years, with about 45% of those drinkers choosing vodka as their liquor of choice. Tony Latham, Bacardi's CFO, tells Cheddar what he anticipates will be the most popular spirit or cocktail this holiday season, as well as other trends going into the new year.
This holiday season, e-commerce sales are expected to hit 207 billion dollars, with17 percent of that chunk will occuring between the days of the deals - black friday and cyber monday. Deren Baker, CEO of edge by ascential, joins Cheddar News to give a Cyber Monday preview.
With Black Friday right around the corner, Trae Bodge, Smart Shopping Expert at TrueTrae.com joined Cheddar's Opening Bell to discuss holiday shopping tips ahead of the annual event.
