Latest news with #LOS ANGELES
CNA
4 days ago
- Business
- CNA
Analysis:ESPN-NFL deal faces regulatory hurdles
LOS ANGELES :The National Football League's deal with Walt Disney in which it will gain an equity stake in ESPN in return for prime media assets is expected to face scrutiny from the U.S. Department of Justice, according to legal experts and industry sources. The agreement, announced late Tuesday, involves Disney's ESPN acquiring the NFL Network and other media properties in exchange for the league receiving a 10 per cent stake in the sports network. Andre P. Barlow, a partner at Doyle, Barlow & Mazard, said the transaction "surely raises competition concerns," because it could potentially give Disney greater control over televised sports carriage and reduce competition. "The deal could potentially result in higher costs for consumers, as Disney's dominance in sports media could limit options and drive up prices for streaming services or game access," Barlow said. The Justice Department is expected to conduct a substantive review of the new ESPN-NFL transaction, according to one source familiar with the matter who spoke on condition of anonymity. Another source said obtaining U.S. antitrust clearance could take up to 12 months. ESPN and the NFL declined comment. The expected review comes as the Justice Department's Antitrust Division is examining a separate deal Disney reached earlier this year to acquire a controlling stake in the sports streaming service Fubo TV. The division demanded further information from the companies in March to examine whether the deal would unduly concentrate the market for sports streaming. Meanwhile, the issue of rising costs for fans as games migrate to streaming services has reached the Senate, where the Commerce Committee held a hearing in May. "In an era of deep partisan division, sports might be the most powerful cultural unifier we have," said Republican Senator Ted Cruz of Texas, who chairs the committee, noting it brings together Americans whether they're watching from their couches or in the stands. "But those millions of fans are asking a simple question: 'Why does it seem to be getting harder - and more expensive - to just watch the game?'" John Bergmayer, legal director of the non-profit Public Knowledge, voiced the same concerns. "The proliferation of streaming services - and the fragmentation of content between them - means that the costs of watching streaming video are rising, and for many people can approach what they were paying on their cable bill," said Bergmayer in testimony to the committee. "Some viewers feel like they finally broke free of the cable bundle only to watch it re-forming (before) their eyes." ESPN STREAMING SERVICE The NFL has done outreach to 30 congressional offices to discuss the terms of its deal with ESPN and how it would result in greater consumer choice, according to one of the sources. Under the agreement, ESPN would be able to add the NFL Network to its breadth of sports programming and incorporate it as part of its ESPN-branded streaming service. ESPN also plans to merge its fantasy football offering with that of the NFL. ESPN also will be able to distribute the NFL's RedZone to cable and satellite TV distributors, along with its other channels. The NFL will retain streaming rights to NFL RedZone, which is available online through YouTube TV. Disney won swift approval for its $71 billion acquisition of 21st Century Fox's entertainment assets in 2018, during President Donald Trump's first term, though it was required to divest Fox's 22 regional sports networks to address competition concerns. At the time, Trump called to congratulate the Fox's Rupert Murdoch on the deal. "It was worked out in record time," said Barlow, adding that this time around, he expects the Justice Department "to take a close look before approving the deal." One recent media deal, the $8.4 billion merger of Paramount Global and Skydance Media, became bogged down in a lengthy regulatory review, as President Donald Trump sued Paramount, claiming the CBS News program "60 Minutes" deceptively edited an interview with his Democratic rival for the White House, former Vice President Kamala Harris. The Federal Communications Commission approved the transaction within days of Trump receiving a $16 million settlement, though FCC Chairman Brendan Carr said the civil suit and regulatory review were unrelated. Politics could complicate the deal. Some sports industry insiders pointed to Trump's threats to interfere with a deal to build a new football stadium in Washington, D.C., unless the local NFL team, now known as the Commanders, changes its name back to Redskins, which was abandoned after decades of criticism that it was a racial slur. ESPN is currently 80 per cent owned by ABC Inc as an indirect subsidiary of Disney, with the other 20 per cent owned by Hearst. If the deal is approved, ABC's stake would drop to 72 per cent and Hearst would fall to 18 per cent to grant the NFL a 10 per cent stake.
Yahoo
31-07-2025
- Business
- Yahoo
Saviynt's Identity Cloud Futureproofs LIXIL's Global Identity Management System
The company supports the global leader in water and housing products by streamlining security and compliance for 53,000+ employees and 70,000 identities across more than 150 countries LOS ANGELES, July 31, 2025--(BUSINESS WIRE)--Saviynt, the global leader in AI-based identity security and governance solutions, today announced that LIXIL Corporation ("LIXIL"), a global leader in the water and housing industries, has chosen Saviynt's Identity Cloud to enhance its global identity management system that now provides more than 70,000 identities with improved user experience, compliance readiness, and centralized visibility across the organization. With a workforce of more than 53,000 employees, LIXIL turned to Saviynt for the flexibility to modernize its legacy processes without disrupting operations. The cloud-native solution met the company's global needs, including compliance with GDPR data residency requirements and support for Japanese-language user interfaces. LIXIL's implementation included successful collaboration with Saviynt Expert Services, ensuring a smooth multi-phase deployment. "Prior to the implementation, we relied on manual processes and localized automation tools for many tasks such as employee onboarding and offboarding, attestations, reporting, and audit controls. Now we have automated account and access granting processes, along with centralized visibility across the company," said Sandy Halim, global information security leader at LIXIL. "Improved visibility and governance have led to meaningful improvements in LIXIL's overall security posture." Saviynt provides LIXIL with the following benefits from its Identity Cloud: Improved User Experience: Streamlined employee onboarding/offboarding and self-service provisioning for over 70,000 internal and third-party users. Granular Identity Visibility: Centralized and granular visibility across a diverse and expanding application ecosystem. Proactive Audit Readiness: Automation, standardized controls, and enhanced reporting capabilities make audits faster and easier. Global Compliance and Security: Simplified governance processes and improved reporting mitigate compliance and cybersecurity risks. Efficient Third-Party Access Governance: Seamless integration of third-party access governance (TPAG) within a single platform, enabling easy extension of capabilities to a global network of vendors and contractors. With Saviynt's support, LIXIL is now well-positioned to continue its cloud modernization journey. Looking ahead, LIXIL plans to implement Saviynt's privileged access management (PAM) solution and continue to onboard additional applications, expanding the scope of its identity governance initiatives. "The exceptionally strong relationships we enjoyed with the LIXIL team in Japan – overcoming significant language and cultural barriers – contributed greatly to the success of this implementation," said Karthik Satish Kumar, vice president of the customer office, APJ at Saviynt. "This collaboration has helped both teams learn and grow, and we are grateful to LIXIL for the opportunity to partner on this transformative project." To learn more about LIXIL's implementation with Saviynt, please visit the website. About Saviynt Saviynt's AI-powered identity platform manages and governs human and non-human access to all of an organization's applications, data, and business processes. Customers trust Saviynt to safeguard their digital assets, drive operational efficiency, and reduce compliance costs. Built for the AI age, Saviynt is today helping organizations safely accelerate their deployment and usage of AI. Saviynt is recognized as the leader in identity security, with solutions that protect and empower the world's leading brands, Fortune 500 companies and government institutions. For more information, please visit View source version on Contacts Press Contact Jacklyn Error in retrieving data Sign in to access your portfolio Error in retrieving data
Reuters
17-07-2025
- Business
- Reuters
Final 'Squid Game' season lifts Netflix above earnings forecasts
LOS ANGELES, July 17 (Reuters) - The final season of global phenomenon "Squid Game" helped Netflix (NFLX.O), opens new tab top Wall Street earnings targets for the second quarter, the streaming service said on Thursday as it raised revenue guidance for the year. Shares of the company, which had risen nearly 44% this year ahead of the earnings report, dropped nearly 2% to $1,252.94 in after-hours trading. The company said its higher revenue forecast "primarily reflects the weakening of the U.S. dollar." For April through June, Netflix posted diluted earnings per share of $7.19. That topped the $7.08 consensus estimate of analysts polled by LSEG. The company raised revenue guidance for 2025 to $44.8 billion to $45.2 billion, citing the weakening of the U.S. dollar plus "healthy member growth and ad sales." Its previous guidance was up to $44.5 billion. For the just-ended quarter, net income came in at $3.1 billion, edging forecasts of $3.06 billion. Revenue totalled $11.08 billion, above the $11.07 billion analyst projection. Netflix released the third and final season of dystopian Korean drama "Squid Game" a few days before the second quarter ended in June. The show is the most popular non-English Netflix show in the streaming service's history. Season three racked up 122 million views, Netflix said. Other releases during the quarter included "Sirens," "The Four Seasons" and a third season of "Ginny & Georgia." The streaming video pioneer stopped disclosing quarterly subscriber numbers this year, instead urging investors to focus on profit as a measure of its success. It said member growth was ahead of its forecast but occurred late in the quarter, which limited the impact on second-quarter revenue. Netflix has been building an ad-supported service to increase revenue and reel in price-sensitive viewers. It also has added live events such as WWE wrestling to draw advertisers and viewers. Looking ahead, Netflix forecast revenue of $11.5 billion and net income of nearly $3 billion. Analysts had projected $11.3 billion and $2.9 billion. The company also has new seasons of two of its biggest shows coming later this year. "Wednesday" returns in August, and the final episodes of "Stranger Things" will be released in November and December. Netflix previously said it does not expect advertising to be a primary driver of revenue growth in 2025.
Yahoo
17-07-2025
- Business
- Yahoo
Xos, Inc. Announces Second Quarter 2025 Earnings Release Date and Conference Call
LOS ANGELES, July 17, 2025 (GLOBE NEWSWIRE) -- Xos, Inc. (NASDAQ: XOS), a leading electric truck manufacturer and fleet services provider, announced it is scheduling the release of its second quarter 2025 operating results on Wednesday, August 13, 2025 after the close of the U.S. financial markets. Management will host a conference call to discuss these financial results at 4:30 p.m. Eastern Time / 1:30 p.m. Pacific Time that same day. Conference Call and Webcast Details Date / Time: Wednesday, August 13, 2025, at 4:30 p.m. ET / 1:30 p.m. PT Webcast U.S. Toll-Free Dial In : 1-833-816-1411 International Dial In : 1-412-317-0507 To access the call by phone, please dial in to one of the above numbers approximately ten minutes before the start of the call. Alternatively, guests may be connected to the call through ViaVid's Call me™ feature by navigating to and using the Passcode 8989837 For those unable to participate in the live call, an audio replay will be available following the call through midnight Wednesday, August 13, 2025. To access the replay, please call 1-844-512-2921 or 1-412-317-6671 (International) and enter access code 10201612. A replay of the webcast will also be archived shortly after the call and can be accessed on the Company's website. About Xos, is a leading technology company, electric truck manufacturer, and fleet services provider for battery-electric fleets. Xos vehicles and fleet management software are purpose-built for medium- and heavy-duty commercial vehicles that travel on last-mile, back-to-base routes. The company leverages its proprietary technologies to provide commercial fleets with battery-electric vehicles that can be easier to maintain and more cost-efficient on a total cost of ownership (TCO) basis than their internal combustion engine counterparts. For more information, visit Contacts Xos Media Relationspress@ Cautionary Statement Regarding Forward-Looking Statements This press release includes 'forward-looking statements' within the meaning of the 'safe harbor' provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regarding projected financial and performance information; expectations and timing related to product deliveries and customer demand; sufficiency of existing cash reserves; customer acquisition and order metrics; ability to access additional capital and Xos's long-term strategy and future growth. These forward-looking statements may be identified by the words 'anticipate,' 'believe,' 'continue,' 'likely,' 'plan,' 'possible,' 'project,' 'potential,' 'predict,' 'seem,' 'seek,' 'expect,' 'anticipate,' 'estimate,' 'intend,' 'strategy,' 'future,' 'target,' 'opportunity,' 'may,' 'might,' 'could,' 'should,' 'will,' 'would,' and similar expressions and any other statements that predict or indicate future events or trends or that are not statements of historical matters, although not all forward-looking statements contain such identifying words. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) Xos's liquidity and access to capital when needed, including its ability to service its indebtedness; (ii) Xos's ability to implement business plans, forecasts, and other expectations, and identify and realize additional opportunities; (iii) cost increases and delays in production due to supply chain shortages in the components needed for the production of Xos's vehicle chassis and battery system; (iv) Xos's ability to meet production milestones and fulfill backlog orders; (v) changes in the industries in which Xos operates; (vi) variations in operating performance across competitors; (vii) changes in laws and regulations affecting Xos's business, including changes to tax incentive policies; (viii) Xos's ability to implement its business plan or meet or exceed its financial projections; (ix) Xos's limited operating history; (x) Xos's ability to retain key personnel and hire additional personnel, particularly in light of current and potential labor shortages; (xi) the risk of downturns and a changing regulatory landscape in the highly competitive electric vehicle industry; (xii) macroeconomic and political conditions; and (xiii) the outcome of any legal proceedings that may be instituted against Xos. All forward-looking statements included in this press release are expressly qualified in their entirety by, and you should carefully consider, the foregoing factors and the other risks and uncertainties described under the heading 'Risk Factors' included in Xos's Annual Report on Form 10-K for the year ended December 31, 2024 filed with the U.S. Securities and Exchange Commission (the 'SEC') on March 31, 2025 and Xos's other filings with the SEC, copies of which may be obtained by visiting Xos's Investors Relations website at or the SEC's website at These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Xos assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Xos does not give any assurance that it will achieve its in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Arab News
10-07-2025
- Entertainment
- Arab News
Larry David teams with the Obamas for HBO US history sketch show for the nation's 250th
LOS ANGELES: Larry David will bring his grumbly sensibility to US history in a team-up with Barack and Michelle Obama for an HBO sketch show, the network announced Thursday. The 'Curb Your Enthusiasm' creator and 'Seinfeld' co-creator will act as executive producer, writer and star of the limited series consisting of six half-hour episodes, produced by the Obamas' company, Higher Ground. The show marks the 78-year-old David's return to HBO just over a year after the end of the 12th and final season of 'Curb Your Enthusiasm.' His 'Curb' showrunner Jeff Schaffer will co-write and direct episodes. HBO did not give a premiere date, but the show is meant to mark the nation's 250th anniversary next year. The series doesn't have a title yet but it has a promotional logline: 'President and Mrs. Obama wanted to honor America's 250th anniversary and celebrate the unique history of our nation on this special occasion. ...But then Larry David called.' And statements from some of the principals suggest the tone it will take. 'Once 'Curb' ended, I celebrated with a three-day foam party. After a violent allergic reaction to the suds, I yearned to return to my simple life as a beekeeper, harvesting organic honey from the wildflowers in my meadow,' David said. 'Alas, one day my bees mysteriously vanished. And so, it is with a heavy heart that I return to television, hoping to ease the loss of my beloved hive.' In his statement, Barack Obama said, 'I've sat across the table from some of the world's most difficult leaders and wrestled with some of our most intractable problems. Nothing has prepared me for working with Larry David.' The Obamas got into the entertainment business by launching 'Higher Ground' in 2018, saying they wanted to raise the prominence of new, diverse voices and expand the range of conversation in the industry. They signed production agreements with Netflix and Spotify soon after. Their involvement has had a high profile in some productions, but they've kept more of a background role in others. Their shows and films have included the Oscar-winning documentary 'American Factory,' the kids series 'Waffles + Mochi,' and the movies 'Rustin' and 'Leave the World Behind.' David, known for his sitcoms and stand-up, has some experience in sketch work. He was a writer and star on ABC's 'Saturday Night Live' knockoff 'Fridays' in the early 1980s, and later wrote briefly for 'SNL' itself.
