Barry Diller’s IAC said Monday that its board approved the spinoff of Angi, the home improvement marketplace the company acquired in 2017. IAC said it expects the transaction to close in the second quarter of the year. The two companies will post their respective fourth-quarter results when IAC reports on Feb. 11. Angi was founded in 1995 as Angie’s List, which went public on the Nasdaq in ...
The Securities and Exchange Commission on Monday said two related Robinhood broker-dealers agreed to pay $45 million in combined penalties to settle administrative charges that they violated more than 10 separate securities law provisions related to their brokerage operations. The violations by Robinhood Securities LLC and Robinhood Financial LLC are related to failures to report suspicious trading in a timely manner, failing to implement adequate identity ...
As the boutique fitness sector starts to buckle, Barry’s Bootcamp on Monday announced new investment from Princeton Equity Group. “The reason why this [boutique fitness] works for Barry’s is that our positioning in the marketplace is premium,” said Joey Gonzalez, Barry’s co-CEO, in an interview with CNBC. “We always want to minimize risks to any sort of brand dilution, and ...
Harris Blitzer Sports & Entertainment announced on Monday a joint venture with Comcast Spectacor to build a new arena in South Philadelphia for the NBA’s 76ers and the NHL’s Flyers. The deal represents a reversal from previous plans to build an arena in the Center City district of Philadelphia. Harris Blitzer and Comcast Spectacor have entered into a binding agreement for a ...
McDonald’s will shutter three locations of its drinks-focused spinoff brand, CosMc’s. To test the concept, the fast-food giant opened its first CosMc’s location more than a year ago in the Chicago suburb of Bolingbrook, followed by six more in Texas. McDonald’s has converted larger namesake restaurants into CosMc’s, in addition to building smaller prototype locations. The smaller stores work better for the test, the ...
Four years after exiting bankruptcy, Chuck E. Cheese is making a comeback, thanks to a dramatic makeover to introduce its games and pizza to a new generation. In June 2020, just as some states began lifting their pandemic lockdowns, Chuck E. Cheese’s parent company CEC Entertainment filed for Chapter 11 bankruptcy protection. It emerged from bankruptcy months later with new leadership and ...
Disney, Fox and Warner Bros. Discovery have called off plans to launch their sports streaming service, Venu, the companies said in a joint statement Friday. “After careful consideration, we have collectively agreed to discontinue the Venu Sports joint venture and not launch the streaming service,” they said in the statement. “In an ever-changing marketplace, we determined that it was best to meet the evolving ...
Microsoft is cutting a small percentage of jobs across departments, based on performance, the company confirmed to CNBC on Wednesday. “At Microsoft we focus on high-performance talent,” a Microsoft spokesperson said in an email to CNBC on Wednesday. “We are always working on helping people learn and grow. When people are not performing, we take the appropriate action.” Business Insider reported on ...
The Securities and Exchange Commission said Friday that World Wrestling Entertainment co-founder Vince McMahon will pay more than $1.7 million in relation to charges that he failed to disclose payment agreements related to sexual assault charges. Meanwhile, a woman suing McMahon and the WWE said she was pressing on with her civil case related to the allegations. The SEC said ...
Meta on Friday told employees that its plans to end a number of internal programs designed to increase the company’s hiring of diverse candidates, the latest dramatic change ahead of President-elect Donald Trump’s second White House term. Janelle Gale, Meta’s vice president of people, made the announcement on the company’s Workplace internal communications forum. Among the changes, Meta is ending the ...