Media Mogul Eyes Disney’s ABC

Yesterday, Disney said it was considering selling its ABC television network assets as it looks to focus purely on ESPN (sports) and its streaming business. Local broadcaster Nexstar was the expected buyer, but today, we may have found out who another potential bidder is. 👀

Media mogul Byron Allen has reportedly offered $10 billion to purchase the ABC TV network and cable networks FX and National Geographic. So far, it looks to include the national TV network and several regional stations, but terms could change anytime. 📚

Allen Media Group owns the Weather Channel and several regional sports networks and broadcast TV stations. Its roughly $10 billion offer assumes an 8x multiple on the network’s $1.25 billion in earnings before interest, taxes, depreciation, and amortization (EBITDA). 

While a generous offer, the potential deal will likely develop as Disney courts more suitors now that the assets are officially (and publicly) in play. ⚔ïļ

$DIS shares continued their slow recovery after reaching nine-year lows late last week. Bob Iger said he was coming back to shake things up. And shake things up he is. ðŸĪŠ

Trouble Continues For Telecoms

We last talked about Telecom stocks about six months ago, when their stocks came under significant pressure due to slowing growth, competition concerns, and regulatory issues. We then discussed them in October when investors dumped defensive stocks for higher-yielding treasuries with no risk.

Prices have since rebounded sharply with the broader market as investors priced in Fed rate cuts this year. However, Verizon was back in the news today for a not-so-great reason. Let’s dig in. 👇

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$LUNR Reaches A “Tipping Point”

One of the top stories in the market over the last 24 hours has been Intuitive Machines’, which trades under the ticker symbol $LUNR. ðŸ“ŧ

The space exploration company’s Nova-C cargo moon lander known as “Odysseus” became the first privately developed spacecraft to land on the lunar surface. It was also the first U.S. spacecraft to soft-land on the moon in over 50 years. 🌝

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Peloton’s New Partnership

With Peloton’s turnaround strategy not yet bearing the fruit it had anticipated, the company continues to lean on partnerships to grow market share. For example, in September, the company entered a 5-year strategic partnership with Lulemon to bring its content to the athleisure brand’s exercise app. It also made Lululemon Peloton’s primary athletic apparel partner. 👟

It’s still too early to tell whether or not that cooperative effort is working, but management seems to think further initiatives like it will help boost revenues. As a result, it’s partnering with TikTok to bring short-form fitness videos and other content to the social media platform.

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AI’s Copyright Crisis Begins

We all knew copyright law would be a key issue at the heart of the artificial intelligence (AI) revolution, but we didn’t know when. Well, the time has come. ⌛

Today, The New York Times filed a lawsuit against Microsoft and OpenAI, accusing them of infringing copyright and abusing the newspaper’s intellectual property. In its court filing, the publisher said it looks to hold the two companies accountable for the “unlawful copying and use of The Times’s uniquely valuable works,” claiming billions in statutory and actual damages.

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