Core Points - Google has removed over 50 diversity, equity, and inclusion (DEI) organizations from its funding list, totaling 214 groups removed and 101 added according to a report from The Tech Transparency Project [2][3] - The largest category of purged groups were DEI-related, with 58 groups removed that had mission statements including terms like "diversity," "equity," and "inclusion" [3] - The funding purge reflects a shift in Google's strategy, prioritizing investments in artificial intelligence technology amid changing political and legal landscapes regarding DEI policies [6][7] Company Actions - Google spokesperson stated that the funding list reflects contributions made in 2024 and does not encompass all contributions from other teams within the company [4] - Notable organizations removed from the funding list include the African American Community Service Agency and the Latino Leadership Alliance, which focus on empowering historically excluded communities [5][10] - Despite the removal of DEI-related organizations, Google continues to allocate funds to various groups, including $75,000 to the National Network to End Domestic Violence in 2024 [11] Industry Context - The backlash against DEI programs has intensified following the U.S. Supreme Court's 2023 decision to end affirmative action at colleges, leading to a reevaluation of DEI initiatives across various industries [7][8] - Many companies are still pursuing DEI efforts but are using alternative terminology to avoid the divisive nature of the term "DEI" [9] - Google CEO Sundar Pichai emphasized the importance of diversity in the workforce, stating that a diverse workforce is essential for serving a global user base effectively [9]

Core Viewpoint - Skydance Media plans to eliminate diversity, equity, and inclusion (DEI) initiatives and implement an ombudsman to address perceived bias within CBS News following a merger with Paramount Global, pending FCC approval [1][2][6]. Company Actions - Skydance and Paramount have agreed to a multi-billion-dollar merger, with Skydance CEO David Ellison taking control of the combined entity [2]. - Skydance confirmed the elimination of DEI initiatives previously in place at Paramount and stated its commitment to comply with non-discrimination laws [3][6]. - Paramount will not engage in DEI-related disparate treatment in hiring and will not set numerical goals based on race, ethnicity, sex, or gender [7]. Governance and Oversight - An ombudsman will be appointed to report to the president of New Paramount, tasked with evaluating complaints of bias or concerns related to CBS [11]. - New Paramount's leadership will consider complaints in overseeing CBS's news programming, aiming for increased transparency and accountability [14]. Context and Background - The merger follows a settlement between Paramount Global, CBS, and President Trump regarding an election interference lawsuit, which was believed to be a strategic move to avoid potential repercussions from the Trump-led FCC [15].

Core Viewpoint - T-Mobile is experiencing reduced regulatory scrutiny following its commitment to end diversity, equity, and inclusion (DEI) practices, coinciding with the closure of an antitrust investigation into its proposed $4.4 billion merger with UScellular [1][2][5] Group 1: Regulatory Developments - The Justice Department announced the closure of its antitrust probe into T-Mobile's merger with UScellular, indicating no intervention in the proposed deal [1][5] - T-Mobile's decision to end DEI policies aligns with a broader trend among companies since the reelection of President Donald Trump [2] - The company is also seeking approval for an additional acquisition of the internet service provider Metronet [3] Group 2: Industry Concerns - Assistant Attorney General Gail Slater expressed concerns regarding ongoing consolidation in the wireless services industry, particularly the potential hindrance to the emergence of a fourth national player [4] - The Department of Justice evaluated the potential harm to competition and consumer effects, concluding that the benefits of the transaction outweighed the potential harms [5]

Core Viewpoint - Verizon Communications is terminating its diversity, equity, and inclusion (DEI) programs amid scrutiny from the Trump administration as it seeks federal approval for its $20 billion acquisition of Frontier Communications [1][6]. Group 1: Changes to DEI Programs - Verizon is removing its "Diversity and Inclusion" website and eliminating references to DEI in employee training programs [3]. - The company plans to end workforce diversity goals and will drop a management compensation component aimed at increasing the representation of women and minorities in its U.S. workforce [4]. - Verizon's Chief Legal Officer stated that some DEI policies could be linked to discrimination, and the changes will take effect immediately [6]. Group 2: Acquisition Details - Verizon's acquisition of Frontier Communications is valued at $20 billion, including debt, and aims to increase its scale by adding 2.2 million fiber subscribers, expanding its reach to 25 million premises across 31 states and Washington, D.C. [7]. - The acquisition is described as a "strategic fit" that will enhance Verizon's competitiveness in the U.S. market [7]. - Frontier's CEO noted that the deal provides a substantial cash premium to its shareholders and creates new opportunities for employees while expanding access to reliable connectivity for more Americans [9].

Core Viewpoint - Verizon Communications is terminating its diversity, equity, and inclusion (DEI) programs following scrutiny from the Trump administration and as it seeks approval for its $9.6 billion acquisition of Frontier Communications [1][7]. Group 1: Changes in DEI Programs - The company is removing its "Diversity and Inclusion" website and eliminating references to DEI from employee training [2][4]. - Verizon will no longer maintain any workforce diversity goals and will discontinue a component of its management compensation plan that aimed to increase the representation of women and minorities in its US workforce [4][5]. - The changes are effective immediately, as stated by Verizon's chief legal officer, who acknowledged that some DEI policies could be linked to discrimination [5]. Group 2: Regulatory Context - FCC Chair Brendan Carr expressed approval of Verizon's decision to end its DEI policies, framing it as a step that promotes equal opportunity and nondiscrimination [6]. - Carr had previously opened a probe into Verizon's promotion of DEI programs, indicating a broader regulatory scrutiny of such initiatives in the telecom sector [1][8].

United States Securities and Exchange Commission Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission file number: 001-33106 Douglas Emmett, Inc. (Exact name of registrant as specified in its charter) Maryland 20-3073047 (State or other jurisdic ...

Financial Data and Key Metrics Changes - Revenue increased by 2.7% compared to Q1 2024 [15] - FFO decreased to $0.40 per share, and AFFO decreased to $62.3 million [15] - Same property cash NOI was essentially flat [15] Business Line Data and Key Metrics Changes - The company signed just under 800,000 square feet in total portfolio, including over 300,000 square feet of new leases [13] - New leasing to tenants over 10,000 square feet was well above historical averages [6] - The residential portfolio remained essentially fully leased at 99.1% occupancy [14] Market Data and Key Metrics Changes - The Class A office portfolio maintained stable in-place and asking rental rates despite a higher vacancy market [7] - Multifamily portfolio enjoyed robust revenue growth due to high demand in coastal submarkets [8] Company Strategy and Development Direction - The company is focused on four avenues to restore and exceed pre-pandemic FFO: leasing existing office portfolio, redeveloping Barrington Plaza, converting Studio Plaza to multi-tenant use, and acquiring additional properties [9] - The company is optimistic about below-average office expirations in 2025 and 2026 [7] Management's Comments on Operating Environment and Future Outlook - Management expressed concerns about potential economic slowdowns and their impact on office leasing [10] - The operating platform is designed to withstand economic turbulence, supported by a conservative financing strategy and a diversified tenant base [10] Other Important Information - The company closed a non-recourse interest-only loan of $127.2 million at a fixed rate of 4.99% [12] - The company refinanced a $335 million secured office loan at an effective fixed interest rate of 4.57% [12] Q&A Session Summary Question: Can you provide more detail on leasing and larger tenants? - Management noted strong demand across various industries, with positive absorption contributing to improved leasing performance [20][22] Question: Can you discuss pricing trends in multifamily? - Management clarified that asking rents have not changed since before the fire, but occupancy remains high, contributing to revenue growth [23][24] Question: What are the expectations for debt refinancing? - Management indicated that securing favorable rates for refinancing is challenging, but they are optimistic about future debt management [30][32] Question: How is the absorption rate in the in-service portfolio? - Management acknowledged that while the in-service portfolio showed slight declines, overall positive absorption was noted due to new leasing activity [34][36] Question: What is the outlook for acquisitions? - Management emphasized a focus on high-quality office buildings for acquisition, with interest from partners in potential deals [74][79] Question: How is the recovery in LA post-fires? - Management noted that while there is significant investment in the market, the expected surge in office leasing has not yet materialized [68] Question: What is the status of Studio Plaza leasing? - Management reported that leasing demand and speed of signing leases at Studio Plaza have exceeded expectations [58][60]

Financial Data and Key Metrics Changes - Revenue increased by 2.7% compared to Q1 2024 [14] - FFO decreased to $0.40 per share, and AFFO decreased to $62.3 million [14] - Same property cash NOI was essentially flat [14] Business Line Data and Key Metrics Changes - The company signed over 300,000 square feet of new leases, with total leasing reaching just under 800,000 square feet [5][12] - New leasing to tenants over 10,000 square feet was well above historical averages [5] - The residential portfolio maintained a high occupancy rate of 99.1% with strong demand [13] Market Data and Key Metrics Changes - The Class A office portfolio maintained stable in-place and asking rental rates despite a higher vacancy market [6] - The multifamily portfolio experienced robust revenue growth, reflecting the appeal of high-end residential communities [6] Company Strategy and Development Direction - The company is focused on four avenues to restore and exceed pre-pandemic FFO: leasing existing office portfolio, redeveloping Barrington Plaza, converting Studio Plaza to multi-tenant use, and acquiring additional properties [7] - The company is optimistic about below-average office expirations in 2025 and 2026 [6] - A conservative financing strategy and a diversified tenant base are emphasized to manage through economic turbulence [8] Management's Comments on Operating Environment and Future Outlook - Management expressed concerns about potential economic slowdowns and the impact of higher interest rates on income [7][8] - The operating platform is built to withstand economic challenges, with a focus on quality buildings in supply-constrained markets [8] - Management remains cautious but optimistic about leasing activity and demand in the multifamily sector [6][35] Other Important Information - The company closed a non-recourse interest-only loan of $127.2 million at a fixed rate of 4.99% [11] - A $335 million secured office loan was refinanced at an effective fixed interest rate of 4.57% [11] Q&A Session Summary Question: Can you provide more detail on leasing and larger tenants? - Management noted strong demand across various industries, with positive absorption contributing to improved leasing metrics [19][20] Question: What are the pricing trends in multifamily? - Management clarified that asking rents have not changed since before the fire, but occupancy remains high, contributing to revenue growth [21][22] Question: Can you discuss the debt refinancing and rates? - Management indicated that securing loans has been challenging, but they are optimistic about achieving favorable rates for upcoming refinancings [28][30] Question: How is the absorption rate in the in-service portfolio? - Management acknowledged that while the overall portfolio shows positive absorption, the in-service portfolio's occupancy has slightly decreased [32][34] Question: Have you seen tenant fallout from macroeconomic uncertainties? - Management reported no significant impact on tenants from current economic conditions, but they are monitoring the situation closely [38][39] Question: What is the status of the Studio Plaza leasing? - Management confirmed that leasing demand and speed have exceeded expectations, with ongoing efforts to achieve reasonable occupancy levels [56][58] Question: What is the outlook for acquisitions? - Management expressed a focus on high-quality office buildings for future acquisitions, indicating a preference for the office market over multifamily at this time [70] Question: Can you comment on capital allocation for acquisitions versus share buybacks? - Management stated that while they have engaged in share buybacks, they prioritize direct acquisitions and include partners in opportunities to maintain relationships [74][75]

Portfolio Overview - Douglas Emmett's (DEI) office portfolio comprises 182 million square feet, representing 79% of total annual rent[12] - The multifamily portfolio consists of 5,212 units, accounting for 21% of total annual rent[12] - The company's total capitalization is approximately $8 billion, with annual revenues of approximately $1 billion[18] Market Position and Strategy - DEI holds approximately 38% average market share of Class A office space in its regions[18] - The company is the largest office landlord in Los Angeles and Honolulu[18] - DEI's strategy focuses on small, affluent tenants in diverse industries, mitigating risk and reducing volatility[9] Rent Growth and Stability - DEI's leases benefit from strong 3% to 5% annual rent increases[10] - West Los Angeles has shown better long-term rent growth and less volatility compared to other gateway markets[10] - The company has experienced consistent rent growth through three down cycles, with a 34% compounded annual growth rate over the last 29 years[29] Operational Efficiency - DEI's efficient management and overhead allow it to convert an extra 112% of net operating income (NOI) to cash flow compared to its benchmark group[43] - Capex savings enable the company to convert an additional 63% of NOI to cash flow[43] Sustainability - More than 84% of DEI's eligible office space qualified for "ENERGY STAR Certification" as of December 2024[55] - The company has reduced its greenhouse gas (GHG) emissions by 13% versus 2019 through December 31, 2024, ahead of its 30% reduction target by 2035[55]

Core Insights - Douglas Emmett (DEI) reported revenue of $251.54 million for the quarter ended March 2025, reflecting a 2.7% increase year-over-year [1] - The company's EPS was $0.40, significantly up from $0.05 in the same quarter last year [1] - Revenue exceeded the Zacks Consensus Estimate of $244.85 million, resulting in a surprise of +2.73% [1] - The EPS also surpassed the consensus estimate of $0.39, with a surprise of +2.56% [1] Revenue Breakdown - Total multifamily revenues reached $49.44 million, exceeding the average estimate of $46.97 million by two analysts, marking a +5.1% change from the previous year [4] - Total office revenues amounted to $202.10 million, surpassing the average estimate of $196.86 million by two analysts, representing a +2.1% increase year-over-year [4] Stock Performance - Over the past month, shares of Douglas Emmett have returned +2.1%, while the Zacks S&P 500 composite has changed by +11.5% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]