Chevron completes $53B Hess acquisition after arbitration ruling
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NBA approves sale of Boston Celtics to private equity mogul Bill Chisholm
BOSTON -- The NBA on Wednesday unanimously approved the sale of the Boston Celtics to a group led by private equity mogul Bill Chisholm, a deal that values the franchise at more than $6.1 billion — the largest ever for an American professional sports team. The league said the transaction is expected to close shortly. When it does, Chisholm will take ownership of at least 51% of the team, with full control coming by 2028 at a price that could bring the total value to $7.3 billion. The previous record for a U.S. sports franchise was the $6.05 billion paid for the NFL's Washington Commanders in 2023. The record price for an NBA team was the $4 billion mortgage firm owner Mat Ishbia paid for the Phoenix Suns in 2023. A Massachusetts native and graduate of Dartmouth College and Penn's Wharton School of business, Chisholm is the managing partner of California-based Symphony Technology Group. The new ownership group also includes Boston businessmen Rob Hale, who is a current Celtics shareholder, and Bruce Beal Jr. Wyc Grousbeck led the ownership group that bought the team in 2002 for $360 million and presided over NBA championships in 2008 and '24. The franchise's 18 NBA titles is a record. Chisholm outbid at least two other groups, one led by previous Celtics minority partner Steve Pagliuca. Pagliuca has since announced plans to but the WNBA's Connecticut Sun for $325 million and move them to Boston, but the women's league has balked at the deal.
Business Wire
an hour ago
- Business Wire
Pessah Law Group, on Behalf of Prominent LA Entrepreneur, Files Lawsuit Against Home Security Provider Deep Sentinel Over Alleged Misrepresentations and Inaction During Active Burglary
LOS ANGELES--(BUSINESS WIRE)--Courtney Reum, a Los Angeles-based philanthropist, entrepreneur and venture capitalist, has filed a lawsuit against Deep Sentinel, a home security provider, alleging the company's failure to respond during a burglary at Reum's West Hollywood residence. Reum is represented by Maurice Pessah at Pessah Law Group, PC. Deep Sentinel, a national AI-powered security company, promises 'real-time crime intervention' and claims that 'no other security camera or video monitoring company sends law enforcement faster.' However, the lawsuit contends that Deep Sentinel's promises were misleading, as its system failed to detect the burglary or initiate any response, leaving Reum vulnerable to significant loss. The complaint, filed in Los Angeles Superior Court, outlines a traumatic burglary where Reum's home was invaded by masked and hooded individuals who stole irreplaceable valuables, including unique artwork, family heirlooms and antique timepieces. Despite some of the burglary being captured on Deep Sentinel's cameras, no action was taken by the company, contrary to its public assurances, including a promise on its website to respond within 30 seconds. 'This isn't just a breach of trust; it's a betrayal of the fundamental promises made by a company entrusted with consumer safety,' said Reum. 'When your home is being violated, and a company acknowledges that the incident has escalated to a live guard but takes no action, there must be accountability. I've filed this lawsuit to ensure that no one else faces what I have endured. I urge potential customers to think carefully before investing in Deep Sentinel's services.' The lawsuit includes claims for intentional and negligent misrepresentation, false advertising, and unfair business practices. 'The promises made by Deep Sentinel were not mere puffery—they were assurances that families rely on for protection,' said Maurice Pessah, Reum's attorney at the Los Angeles-based firm PLG. 'When Deep Sentinel's system was put to the test, it failed to deliver. The misrepresentations made by security providers can have devastating consequences, especially if a home is occupied during an intrusion.' Reum seeks compensatory and punitive damages, as well as injunctive relief to prevent harm to other consumers.
San Francisco Chronicle
an hour ago
- San Francisco Chronicle
Stantec: Q2 Earnings Snapshot
EDMONTON, Alberta (AP) — EDMONTON, Alberta (AP) — Stantec Inc. (STN) on Wednesday reported second-quarter earnings of $97.9 million. The Edmonton, Alberta-based company said it had profit of 86 cents per share. Earnings, adjusted for non-recurring costs, came to 98 cents per share. The results matched Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for earnings of 98 cents per share. The engineering firm posted revenue of $1.42 billion in the period. Its adjusted revenue was $1.15 billion, which fell short of Street forecasts. Five analysts surveyed by Zacks expected $1.18 billion. _____
