Core Insights - The Oscars will transition from broadcast to online, partnering exclusively with YouTube for global rights from 2019 to 2033 [1][2] - The partnership aims to enhance accessibility to the Academy's work for a global audience, benefiting members and the film community [2] - YouTube's CEO expressed hopes that the collaboration will inspire creativity and film appreciation while honoring the Oscars' legacy [3] Partnership Details - The deal includes not only the Oscars ceremony but also red carpet coverage, behind-the-scenes content, and access to the Governors Ball [1] - Additional content will encompass Governors awards, nominations announcements, nominees Luncheon, student Academy awards, interviews, film education programs, and podcasts [3] Audience Engagement - ABC reported a slight increase in ratings for the Oscars, with 19.7 million viewers for the latest ceremony [4] - The Academy has been working to diversify its voting body, with 21% of voters now from outside the US [2] Future Developments - The upcoming ceremony will introduce the first Oscar for casting, with nominations to be announced in January [5]

Core Viewpoint - Warner Bros Discovery (WBD) has urged shareholders to reject a $108.4 billion hostile takeover offer from Paramount Skydance, labeling it as "inadequate" amidst a significant corporate battle for control of the media conglomerate [1]. Group 1: Takeover Offer and Corporate Strategy - WBD has agreed to sell its movie studios, HBO cable network, and streaming service to Netflix in a deal valued at $82.7 billion, indicating a major shift in Hollywood's landscape [1]. - Paramount, which had previously made a private bid for WBD, countered with an all-cash offer and intends to take the proposal directly to shareholders [2]. - WBD's board concluded that Paramount's offer is inadequate and poses significant risks and costs to shareholders, failing to address key concerns raised in previous proposals [4]. Group 2: Funding and Regulatory Concerns - Questions arose regarding how the Ellison family is funding their proposal, with a regulatory filing revealing backing from outside funders, including Affinity Partners, Saudi Arabia's Public Investment Fund, and the Qatar Investment Authority [5]. - WBD accused Paramount of relying on an "unknown and opaque revocable trust" to support its bid, describing the proposal as "illusory" and not to be trusted by WBD shareholders [6]. - WBD firmly denied that regulators would be more likely to approve Paramount's bid compared to its deal with Netflix, warning of significant additional costs, including a $2.8 billion termination fee to Netflix if the Paramount offer is accepted [7].

Investment and Valuation - Amazon is in discussions to invest over $10 billion in OpenAI, potentially raising OpenAI's market valuation above $500 billion [1] - OpenAI's spending commitment on compute resources is projected to be $1.4 trillion over the next eight years, significantly exceeding its reported annual revenues of $13 billion [4] - OpenAI is considering an initial public offering that could value the company at up to $1 trillion [5] Strategic Partnerships - Amazon's investment would assist OpenAI in fulfilling its commitments to rent cloud capacity, particularly from Amazon Web Services [2] - OpenAI plans to utilize Amazon's Trainium chips, which compete with offerings from Nvidia and Google [3] - OpenAI has also engaged in transactions with Nvidia, where it will pay for chips while Nvidia invests in non-controlling shares of OpenAI [6] Competitive Landscape - OpenAI's CEO has issued a "code red" alert to address competition from Google, particularly following updates to Google's Gemini AI tool [7] - Discussions between Amazon and OpenAI reportedly include exploring commercial opportunities, such as selling a corporate version of ChatGPT to Amazon [7] Additional Funding and Developments - OpenAI's main backer, Microsoft, holds a stake of approximately 27% in the company, which was part of a deal valuing OpenAI at $500 billion [4] - OpenAI has secured a deal with Oracle for $300 billion to build data centers across several states, with OpenAI expected to repay a similar amount for usage [5]

Group 1 - Warner Bros Discovery (WBD) is expected to advise shareholders to reject Paramount's $108 billion hostile bid, allowing Netflix to proceed with its $82.7 billion acquisition of WBD [1][2] - Netflix's bid includes control of significant assets such as the Harry Potter and DC Comics franchises, as well as HBO, but does not cover WBD's cable channels, which will be spun off next year [2] - WBD's board is reportedly less confident in Paramount's all-cash offer due to its backing by the Ellison family trust, which is valued at nearly $250 billion in Oracle stock, compared to Netflix's cash and shares offer [3] Group 2 - Affinity Partners, led by Jared Kushner, has withdrawn support for Paramount's bid, which has led to accusations from Paramount that WBD's board is not engaging properly with its offer [4] - Netflix's acquisition is likely to face regulatory scrutiny due to its potential dominance in the North American streaming market, although Netflix argues that including major players like YouTube mitigates this concern [5] - Paramount's funding sources from sovereign wealth funds in Qatar, Saudi Arabia, and Abu Dhabi, which will contribute $24 billion (almost 60% of the $40.7 billion in equity), have raised questions regarding regulatory approval [6] Group 3 - Federal Communications Commission rules restrict foreign investors from owning more than 20% of broadcast or telecom licensees, but Paramount claims these rules do not apply to its offer as the wealth funds have agreed to forgo governance rights [7]

Group 1 - Jared Kushner's private equity firm, Affinity Partners, has withdrawn from efforts to take over Warner Bros Discovery (WBD) amid scrutiny of Kushner's involvement [1][4] - Affinity Partners was a key backer of a $108.4 billion hostile bid by Paramount Skydance for control of WBD, which includes significant assets like Warner Bros movie studios and HBO Max [1][2] - WBD is currently reviewing an unsolicited $82.7 billion offer from Paramount to sell its assets, with a public response expected soon [2][4] Group 2 - The hostile bid from Paramount is supported by the Ellison family and RedBird Capital, with additional funding from Affinity, Saudi Arabia's Public Investment Fund, and the Qatar Investment Authority [3] - Affinity stated that despite stepping back, they believe there is a strong strategic rationale for Paramount's offer [4] - The involvement of Kushner has raised concerns, particularly as former President Trump has indicated he expects to be involved in regulatory scrutiny of any deal for WBD [4]

Labor Market Overview - The US labor market showed unexpected growth in November, adding 64,000 jobs after a loss of 105,000 jobs in October, surpassing the consensus forecast of 40,000 jobs added [1] - The unemployment rate rose to 4.6%, marking a four-year high, amidst concerns regarding the strength of the US economy [2] Job Data Accuracy and Delays - The release of full October jobs data was canceled, and November's data was delayed due to a 43-day federal government shutdown, raising questions about the accuracy of the reported figures [3] - Federal government jobs decreased by 162,000 in October and by 6,000 in November [2] Federal Reserve Insights - Federal Reserve Chair Jerome Powell advised treating the Bureau of Labor Statistics (BLS) data with skepticism due to the impact of the government shutdown on data collection [4][7] - Powell indicated that the job market may be weaker than reported, suggesting an overcount in payroll job numbers, estimating a potential correction of about 60,000 jobs per month [7] Political Context and BLS Challenges - The BLS has faced scrutiny from the Trump administration, including the firing of its commissioner shortly after a jobs report was published, with claims of the report being "rigged" [8] - The agency's staffing has decreased by 20% under the Trump administration, with a total of 2,058 employees proposed for fiscal year 2024 compared to 1,851 for fiscal year 2026 [10]

Core Viewpoint - Ford is taking a significant $19.5 billion writedown and discontinuing several electric vehicle (EV) models, reflecting the auto industry's retreat from battery-powered vehicles due to changing policies and declining demand for EVs [1][5]. Group 1: Company Actions - Ford will cease production of the F-150 Lightning in its electric form and will instead focus on an extended-range electric model, a hybrid called Erev [2]. - The company is also canceling the next-generation electric truck, T3, and planned electric commercial vans [2]. - Ford plans to pivot towards gas and hybrid models, expecting its global mix of hybrids, extended-range EVs, and pure EVs to reach 50% by 2030, up from 17% today [3]. Group 2: Financial Implications - The $19.5 billion writedown will be spread out, primarily occurring in the fourth quarter and continuing through 2027, with $8.5 billion related to canceled EV models, $6 billion tied to a dissolved battery joint venture with SK On, and $5 billion for "program-related expenses" [4]. - Sales of the F-150 Lightning have decreased by 10% year-over-year, with only 25,583 units sold through November [8]. Group 3: Market Context - US sales of electric vehicles fell approximately 40% in November, following the expiration of a $7,500 consumer tax credit, which had been in place for over 15 years [6]. - The shift in Ford's strategy reflects a broader trend in the auto industry, as companies reassess their investments in EVs amid waning demand and changing regulatory environments [5][7]. Group 4: Future Plans - Ford's future EV lineup will focus on more affordable models, with the first model from a specialized team in California expected to be priced around $30,000 and available in 2027 [9].

Core Viewpoint - iRobot has filed for Chapter 11 bankruptcy protection and will be acquired by Picea Robotics, a Chinese supplier, as part of a restructuring plan aimed at improving its financial position [1][2]. Financial Performance - iRobot has faced declining earnings due to supply chain issues and increased competition from cheaper alternatives [2]. - The company reported a net loss of $145.5 million last year and saw its valuation drop from over $3 billion in 2021 to approximately $137 million [7]. Acquisition Details - The acquisition by Picea Robotics follows a previous failed attempt by Amazon to purchase iRobot for $1.4 billion, which was halted due to EU competition concerns [3][4]. - iRobot received $94 million in compensation from the failed Amazon deal, which was partially used to cover advisory fees and repay loans [4]. Strategic Outlook - The CEO of iRobot believes that the partnership with Picea will enhance the company's innovation and technical capabilities in the smart home robotics sector [3]. - The bankruptcy plan is designed to allow iRobot to continue operations, fulfilling commitments to employees and creditors without disrupting its app or supply chains [5][6]. Market Reaction - Following the announcement of the bankruptcy filing, iRobot's shares fell by over 13%, reflecting a 45% decline in market value year-to-date [7].

Users of OpenAI’s video generation app will soon be able to see their own faces alongside characters from Marvel, Pixar, Star Wars and Disney’s animated films, according to a joint announcement from the startup and Disney on Thursday. Perhaps you, Lightning McQueen and Iron Man are all dancing together in the Mos Eisley Cantina.Sora is an app made by OpenAI, the firm behind ChatGPT, which allows users to generate videos of up to 20 seconds through short text prompts. The startup previously attempted to stee ...

Walt Disney has announced a $1bn equity investment in OpenAI, enabling the AI start-up’s Sora video generation tool to use its characters.Users of Sora will be able to generate short, user-prompted social videos that draw on more than 200 Disney, Marvel, Pixar and Star Wars characters as part of a three-year licensing agreement between OpenAI and the entertainment giant.A selection of the videos made by users will also be available for streaming on the Disney+ platform.Bob Iger, Disney’s CEO, hailed a deal ...