GIBBI, Today
In this newsletter I write the 5 most important news that I read in the day about businesses, finances and sports in México and in the World.
Stories:
Endeavor Goes Private
CNN Hires Chief Content Officer
Lakers Lost Its Fourth Straight Game
Hyundai Announces $21 Billion U.S. Investment
23andMe Files For Bankruptcy As CEO Steps Down
Endeavor Goes Private (VARIETY)
On Monday, Endeavor announced the closing of the deal to go private with private-equity firm Silver Lake. With the move, Endeavor is changing its name to WME Group, reflecting its refocusing on the representation business
According to Silver Lake, when consolidating all of the value of TKO Group (parent of UFC, WWE and more) into Endeavor, the combined total enterprise value of the company is $25 billion
Ari Emanuel, who founded the talent agency in 1995 and most recently served as CEO of Endeavor, is now executive chairman of WME Group. He also continues as CEO and executive chair of TKO Group
GIBBI View: Ari Emanuel received $174 million payout from Silver Lake, where he will also roll over more than $290 million in equity into the new private company
CNN Hires Chief Content Officer (The Hollywood Reporter)
As it looks to reshape itself for a post-TV future, CNN has rehired a familiar name in a new C-suite role
Amanda Wills, who departed the cable news brand in 2022 for The Wall Street Journal after a six-year run, has rejoined CNN as chief content officer, the company said on Monday
At the Journal, Wills held a similar title, chief content officer of video, overseeing the vertical for the News Corp. broadsheet since November 2022
GIBBI View: Well, maybe with my experience creating content here in my blog, and in my spotify and youtube channels, in the future I can apply to the Chief Content Officer position in a startup or a big tech company, who knows
Lakers Lost Its Fourth Straight Game (GIBBI)
Yesterday, Lakers visited Orlando and lost against Orlando Magic 106-118, where Lakers fell to a 43-28 record and stayed on 4th place on Western Conference
Lakers played a good basketball in first half where Lakers were leading 60-58 in halftime, but again Lakers played a bad basketball in second half, where Lakers lost the game in third quarter where Lakers were outscored by 16 points difference (18-34) and Lakers were trailing by 14 points difference in the end of third quarter
Lakers have a 4-game losing streak, and it looks that Lakers will continue losing games because the rest of the week Lakers will play on road; Lakers will play against Pacers tomorrow at Indiana, Indianapolis
GIBBI View: In the last 10 games played Lakers have a 3-7 record where Lakers have been struggling in defense side and in turnovers, so JJ Redick needs to find out the ways to improve the defense side to come back to win again
Hyundai Announces $21 Billion U.S. Investment (CNBC)
South Korean conglomerate Hyundai on Monday announced a roughly $21 billion investment in U.S. onshoring that includes a $5.8 billion steel plant in Louisiana
The plant is set to hire more than 1,400 employees and will produce next-generation steel that will be used by Hyundai’s two U.S. auto plants to manufacture electric vehicles
Hyundai’s announcement comes as major international conglomerates are racing to dodge tariffs and avoid a trade war ahead of Trump’s April 2 tariff deadline
GIBBI View: Well, it looks like that the famous Trump’s tariffs are working and another company has decided to move on its factory to U.S.; the big question is, if Trump is deporting illegal people (latin american people) who’s going to work in these factories?
23andMe Files For Bankruptcy As CEO Steps Down (The Verge)
DNA testing firm 23andMe has filed for Chapter 11 bankruptcy protection to help the company sell itself after years of financial difficulties
Anne Wojcicki, 23andMe’s co-founder and CEO, announced on X that she has resigned with immediate effect to become an independent bidder for the company, with chief financial and accounting officer Joe Selsavage stepping in as interim CEO
The company was briefly valued at $6 billion after going public in 2021, but has since plummeted to $50 million after failing to turn a profit. It settled a lawsuit for $30 million in September that alleged the firm had failed to protect the data of almost seven million customers during a data breach in 2023
GIBBI View: Since the end of last year, I’ve been writting about that 23andMe’s founder, Anne Wojcicki, has been tried to make this company private to have the total control, but now with this “strategy” the most probably is that she’s going to buy all the 23andMe’s stake, she’s going to make it private and will take the total control of the company