Paramount Global is exploring the sale of BET Media Group and VH1, according to The Wall Street Journal, as it focuses on its streaming platform.
Share:
More In Business
Stocks Close Lower Due to New Inflation Fears
Stocks fell into the red on Wednesday after new data heightened fears over inflation. Vince Lorusso, Co-Founder and portfolio manager at Changebridge Capital, joins Cheddar News' Closing Bell where he says recent history suggests investors to buy the dips.
DoorDash to Acquire Food Delivery Company Wolt
Food delivery giant DoorDash is acquiring European food delivery company Wolt. The all-stock deal is valued at $8.1 billion and is expected to close in the first half of 2022. The companies say they share a mission to build a global delivery platform. Gerber Kawasaki investment advisor Eva Agi joins Cheddar News' Closing Bell to discuss what the deal means for Doordash, as well as its customers and investors.
Identity Verification Startup Socure Raises $450 Million
Identity verification startup Socure recently raised $450 million dollars in a series E round, bringing the company's valuation to $4.5 billion. Socure says it is now the highest-valued private company in the identity verification space, and that the funds will be used to accelerate its mission to verify 100% of good identities and eliminate identity fraud across all industries. Socure Founder and CEO Johnny Ayers joins Cheddar News' Closing Bell to discuss.
Courts Overturn Opioid Ruling, Halt Baby Powder Lawsuits Against Johnson & Johnson
On Tuesday, an Oklahoma court overturned a ruling in a case against Johnson & Johnson for liability in the opioid crisis, and on Wednesday a North Carolina judge put a pause on the thousands of lawsuits accusing the company's baby powder product of containing cancer-causing asbestos. Elizabeth Burch, a professor at the University of Georgia school of law, joined Cheddar to break down the legal results that the pharmaceutical giant had long been hoping to get.
need2know-afternoon-edition-111021
need2know-afternoon-edition-111021
3D Printing Firm Velo3D CEO on First Earnings Report Since IPO Launch
3D printing company Velo3D released its first earnings report since going public in September. CEO and co-founder Benny Buller joined Cheddar to discuss the company's bottom line miss while noting he expects revenue for the year will hit $26 million. Buller also expressed optimism about the company achieving $89 million in revenue in 2022.
Wheels Up CEO on Q3 Earnings, Rise in Membership Despite Aviation Headwinds
Wheels Up CEO Kenny Dichter talked to Cheddar about the aviation company's Q3 earnings report, the increase in memberships, and rising fuel costs. He attributed some of the increase in the number of members and rising revenue to lingering concerns about commercial flying amid the pandemic and noted that legacy members have used the service more frequently than in previous years. Dichter also explained that a rise in pricing is planned for December.
Airbnb Sees Big Growth in Bookings for Long-Term Stays
With more companies offering employees flexibility in work schedules, Airbnb is looking to accommodate flexible travel plans. Chief Strategy Officer Nathan Blecharczyk joined Cheddar to discuss the growing trend of people staying in Airbnbs for longer periods of time. "In December over the holidays, in North America, we are seeing a 68 percent increase in the demand for month-long stays relative to years past," he said.
What Record Rivian IPO Means for the Electric Vehicle Industry
Asad Hussain, lead mobility analyst at data company PitchBook, joined Cheddar to discuss the blockbuster Rivian IPO. The electric truck maker's valuation jumped to more than $90 billion, signaling progress in the "multi-decade transformation in mobility," according to Hussain. He noted that electric automakers like Rivian, Tesla, and Lucid, will continue to lead electrification in being free to innovate and lacking the legacy issues facing traditional, combustion engine carmakers.
