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DirecTV Agrees To Buy Dish For $1

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DirecTV announced Monday that it will acquire rival Dish Network, capping decades of on-and-off talks about the satellite firms joining.

The firms have struggled to keep subscribers in the streaming era. As platforms such as Netflix, Hulu, and Amazon’s Prime Video gained traction, drawing millions of subscribers away from pay TV with lower prices and on-demand content, DirecTV and Dish have struggled to justify rising subscription costs, exacerbating already dramatic cord-cutting.

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DirecTV Agrees To Buy Dish For $1

According to the businesses, the “combination of DirecTV and Dish will benefit US video consumers by creating a more robust competitive force in a video industry dominated by streaming services owned by large tech companies and programmers.”

Under the terms of the agreement, DirecTV will pay only $1 to Dish’s owner, EchoStar, in exchange for taking on Dish’s billions of dollars in debt.

Meanwhile, TPG, a private equity group, will acquire AT&T’s remaining 70% ownership in DirecTV. A DirecTV representative told CNN that the move comes nine years after AT&T bought the company in 2015, only to sell a 30% stake to TPG in 2021.

The transaction is still contingent on Dish bondholders agreeing to net debt of less than $1.56 billion, which a DirecTV representative stated the firm will seek to secure in the coming weeks. Bondholders can accept a lesser percentage, take a slightly greater percentage today, or wait it out, risking Dish’s bankruptcy. Dish announced an exchange offering in a news release on Monday.

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Dish currently has a $2 billion debt maturing on November 23. To secure money through a shared revenue stream, TPG and DirecTV will offer Dish with a $10 billion loan, which will mature on November 24.

A DirecTV representative told CNN that the agreement gives DirecTV and Dish greater scale. From an investment standpoint, the united entity provides a more consistent revenue stream to invest back into products and services, which is beneficial for programmers such as Disney. It will also enable the new organisation, as a video company, to better collaborate with programmers to create slimmer packages and bundles.

The newly merged DirecTV-Dish corporation will continue to support the Dish brand for the foreseeable future, according to a DirecTV representative. DirecTV has no intentions to replace the existing Dish or Sling TV branding, so current Dish customers do not need to worry about being compelled to switch to DirecTV.

If they unite, the new service will have approximately 20 million members, with DirecTV accounting for more than 11 million of those. However, this figure pales in comparison to DirecTV’s highest TV subscriber count of 20.3 million in 2015, when AT&T acquired a majority share in the company.

Hughes Electronics founded DirecTV in 1994. AT&T acquired the company in 2015 and sold a portion of it to private equity firm TPG in 2021.

Dish Network is a subsidiary of EchoStar Corporation (SATS), which also owns Sling TV and the wireless spectrum utilized for cell phone services. EchoStar shares fell more than 10% in morning trading.

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DirecTV Agrees To Buy Dish For $1

A long time coming.
Reports and rumors about a merger have circulated for years. Bloomberg reported in 2014 that former Dish chairman Charlie Ergen contacted former DirecTV CEO Mike White.

However, the US government had previously banned the companies’ proposed $19 billion merger in 2002 on competitive concerns. Echostar had to pay a $600 million breakup fee to Hughes, which was then owned by General Motors.

The partnership announced Monday allows DirecTV to curb rising costs while also allowing EchoStar to handle its debt problem. The agreement also enhances the duo’s position in the business, allowing them to compete more effectively with pay TV rivals and streaming services.

Antitrust regulators’ concerns about satellite TV mergers stem from a time when such businesses were the only carriers available to viewers in suburban and rural areas, which were less densely populated and were not served by cable networks due to expensive infrastructure costs.

However, since broadband firms have increasingly given distant viewers with a variety of solutions, the competitive consequences of such mergers have diminished.

SOURCE | AP

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McDonald’s Chicken Big Mac is Heading to the U.S. Next Week—for a Limited Time.

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(VOR News) – It will soon be possible for American customers who frequently visit McDonald’s to order the Chicken Big Mac, a dish that has shown a great deal of popularity with those specific customers.

This will become available to them in the not too distant future.

When it was initially released in this nation in 2022, it was entirely sold out in both Ireland and the United Kingdom of Great Britain and Northern Ireland due to its extreme popularity.

The sandwich may be found on menus everywhere because it has previously been placed on menus in every part of the globe. This is due to the fact that menus already feature it. It was found that both of those countries have this same situation after further inquiry.

McDonald’s scheduled this object’s return to the US for Thursday, October 10, prior to its occurrence.

There is extremely little chance that the recently added item to the menu will remain available for an unusually long time. This is due to the extremely low likelihood that this will occur. This is specifically because the availability of the new item is contingent upon the availability of supply.

It has been demonstrated by the announcement that the rumors were accurate in what they reported based on the information they had.

McDonald’s has a history of doing many different things that are thought to be improper. These practices had previously been identified.

There was a sandwich that was served in Los Angeles the weekend before that was kind of similar to what you are eating right now. You have this sandwich at your disposal. The sandwich was easily obtainable.

The pop-up restaurant McDonnell’s by Chain, located in Los Angeles, was only open for business on one day. The only people who can enjoy this exclusive eating experience are customers. On that specific day, customers were able to enjoy the restaurant’s signature meal, which is widely known as “The Chicken Sandwich.”

The dinner that was being served to attendees could be purchased. This dish’s recipe was remarkably similar to the one utilized by McDonald’s for their Chicken Big Mac, which had two chicken patties instead of the original Big Mac’s two patties made completely of beef.

Two beef patties were used to create the first Big Mac. There were two beef patties utilized in the creation of the original Big Mac.

McDonald’s and the company’s formulas had many similarities.

It was McDonald’s that applied the formula. Regarding the toppings used, there is no difference between the two scenarios that have been described in full.

Customers expressed such high delight that they even called it a McDonald’s knockoff. This is because they found it to be quite satisfactory. They did this because they were quite happy with how things turned out.

The story takes an unexpected and shocking turn when it is revealed that McDonald’s was the establishment that was there the entire time.

The company released a press release that said, “We are able to serve up more than just a sandwich.” This message was sent to McDonald’s USA Chief Marketing and Customer Experience Officer Tariq Hassan.

“We are able to serve up more than just a sandwich,” These are the words from the website of the company that provided the information, from which the information was taken.

“We are able to do this by tapping into some of our fans’ biggest passions, which range from live-streaming to dupe culture.” “There truly is something for everyone to enjoy in this campaign and we’re bringing experiences that will surprise and delight them, all before the Chicken Big Mac hits restaurants.”

SOURCE: NY

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Nike is Experiencing a 10% Decrease in Revenue as a Result of its CEO’s Transition.

Walmart Employees To Get Expanded Cancer Treatment Options With The Mayo Clinic

 

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Nike is Experiencing a 10% Decrease in Revenue as a Result of its CEO’s Transition.

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(VOR News) – Nike’s first-quarter fiscal 2025 income of $11.59 billion, a 10% drop from the $12.94 billion total from the previous year.

The figures came up at $11.65 billion, somewhat less than analysts had projected. At $11.1 billion, the revenue of the Nike brand dropped by 10% from the year before. Converse, meanwhile, had a 15% drop in income—$501 million overall. Moreover, quarterly earnings dropped 28%, which resulted in $1.1 billion overall.

Nike’s shares rose 0.7% after Tuesday’s market close despite underperformance.

This was considered as the company was ready for Elliott Hill’s CEO entrance. Nike said on 19 September that seasoned Nike employee Elliott Hill would replace present CEO John Donahoe on October 14.

As to expert estimates, Hill will be faced with the following challenges: revitalising the company’s performance, inspiring innovation to compete with brands like Hoka and On, and maximising distribution channels. These difficulties have become clear thanks to the current financial crisis.

Nike’s Executive Vice President and Chief Financial Officer, Matthew Friend, has shown excitement about Hill’s coming back to the business.

He cited Hill’s 32-year employment at Nike, during which he developed a solid reputation for encouraging the expansion of worldwide teams and companies by including interesting narrative with product development.

Furthermore, Matthew Friend expressed thanks to Donahoe for his leadership even though Donahoe skipped the investor call. Moreover, he observed that staff members had responded positively, underlining the fresh excitement and thrill that pervaded the whole company.

Friend revealed that Nike will be skipping its full-year financial estimates during the investor call, so addressing the effects of the CEO change. Friend also spoke on the effects of the change. This choice was taken to let Hill re-establish ties with teams and review industry trends and present strategy of the business.

Nike has also delayed its Investor Day from November 19 to another day.

Friend said under interrogation about the first quarter’s performance that the company had not yet fully recovered from the losses of the previous quarter.

Nike had clearly shown some early success, but he underlined that the business had not yet reached a turning point. The direct-to—consumer market suffered especially from the economic crisis since revenues dropped 13% year-on-year to $4.7 billion. Sales at Nike.com and its mobile apps dropped 20%; a 1% rise in sales at owned outlets helped to somewhat offset this drop.

This decline was mostly caused by declining sales via these outlets. Nike’s shift to direct channels also resulted in an 8% drop in wholesale income, therefore producing a total of $6.4 billion. This change also resulted in less inventory available for particular partners.

Sales in North America dropped by 11% to $4.8 billion overall; sales in EMEA dropped by 13% to $3.1 billion overall. Greater China saw a 4% drop, worth $1.7 billion; Asia Pacific and Latin America saw a 7% drop, worth $1.5 billion in the same period. Low consumer expenditure and excessive inventory levels in the Chinese market presented Nike with further difficulties.

Investors believe Nike will position new items to satisfy demand and innovate to improve the sector.

He then underlined the following developments: new cushioning technology, improved performance running gear, and footwear franchises sold for less than one hundred dollars. All of these developments have as their goal more accessibility of innovation.

Friend said that as gets ready for spring, these new technologies should cause a notable rise in the quantity of footwear units. In the next months, Nike expects that more of its footwear company will consist of creative and fresh products.

In the second quarter Nike estimated a profit drop of roughly 150 basis points and a sales drop of 8% to 10%. Friend did not provide any exact information, however, even though income projections had been changed outside of the second quarter. Still, Nike keeps a positive view of the somewhat small income swings that occurred in the latter half of the fiscal year as compared to the first half.

SOURCE: CM

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Walmart Employees To Get Expanded Cancer Treatment Options With The Mayo Clinic

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Walmart Employees To Get Expanded Cancer Treatment Options With The Mayo Clinic

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NEW YORK — Walmart employees and their dependents are eligible for enhanced cancer treatment from doctors at the Mayo Clinic through the retailer’s insurance.

The nation’s largest private employer announced on Wednesday that anyone insured by insurance and diagnosed with most types of cancer will be allowed to get a second opinion from the Mayo facility and, if necessary, fly to the facility for treatment.

walmart

Walmart Employees To Get Expanded Cancer Treatment Options With The Mayo Clinic

According to benefits experts, the retail giant’s action comes as more businesses seek improved care alternatives, with a focus on cancer treatments.

Walmart’s cancer program assisted the Mayo Clinic employees and their families with breast, lung, colon, prostate, pancreatic, and blood cancers. It is now broadening its scope to include most other malignancies.

The business stated that the only exclusions are three skin cancers: basal cell carcinoma, squamous cell carcinoma, and localized melanoma, which can be treated at a local doctor’s office.

Mayo Clinic, situated in Rochester, Minnesota, with sites in Arizona and Jacksonville, Florida, has expanded its collaboration with corporations other than Walmart, including Whirlpool and 3M. Dr. Lyell Jones, a neurologist at the Mayo Clinic, stated that it has a sophisticated care program that spans 10 million patients.

As healthcare expenses rise, employers have been more focused on linking employees with quality care.

Companies have long sent patients to so-called “centres of excellence,” according to benefits experts. The drive began with bariatric surgery. It later expanded to include spine procedures and hip or knee replacements.

According to Maura Cawley, a senior partner at consulting firm Mercer, cancer care is likely the most recent example of this strategy.

walmart

Walmart Employees To Get Expanded Cancer Treatment Options With The Mayo Clinic

According to Cawley, these centres also allow them to provide greater assistance to persons living in remote areas.

Employers in general are also putting more emphasis on cancer care planning. Aside from linking people to good care, firms are doing more to promote early identification and flexibility with patient work and treatment schedules, according to Cawley.

“It’s a bigger and bigger part of their spend, people are living with it much longer,” she informed me.

SOURCE | AP

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