- GRIT
- Posts
- A Judge Blocks Streaming Deal
Good Morning!
Happy Monday! Have a great week:
👉Judge blocks streaming service
👉AMD makes big acquisition
👉USA-China sign agreement
STREAMING: Judge Blocks Deal
A U.S. judge has temporarily blocked Disney, Warner Bros. Discovery, and Fox from launching their new sports streaming service, Venu, just weeks before the NFL season starts. The injunction comes after Fubo TV filed a lawsuit, claiming Venu would harm its business and violate antitrust laws.
Source: Disney
Fubo's stock jumped 16% on the news. The streaming service, backed by lawmakers like Sen. Elizabeth Warren and Rep. Joaquin Castro, had argued that Venu’s launch would be anti-competitive. The judge noted that these companies control over half of U.S. sports rights, which raises concerns about market dominance. While Venu's future remains uncertain, Fubo plans to continue its antitrust fight.
🎯GRIT TAKE: If Venu proves successful…upgrade to VIP now to read the full GRIT Take!
AMD: Acquires ZT Systems
Advanced Micro Devices announced plans on Monday to acquire server maker ZT Systems for $4.9 billion. This move aims to bolster AMD’s AI chip and hardware portfolio, intensifying its competition with Nvidia. AMD will fund 75% of the acquisition in cash and the rest in stock, leveraging its $5.34 billion in cash reserves.
Source: CNBC
ZT Systems, with about 2,500 employees, generates around $10 billion in annual revenue. AMD plans to retain 1,000 of ZT’s engineers. The deal is expected to close in the first half of 2025, with full integration taking another 12 to 18 months. AMD anticipates ZT Systems will enhance its financial performance by late 2025.
AGREEMENT: US-China
According to a statement from the People’s Bank of China, the U.S. and China signed agreements last week to cooperate on financial stability. The agreements were part of a U.S.-China Financial Working Group meeting held in Shanghai. Brent Neiman from the U.S. Treasury and Xuan Changneng of the PBOC co-led the group.
Source: PBS
They also exchanged contact lists for emergencies. Officials from the Federal Reserve, SEC, and Chinese regulators attended and discussed key financial institutions and risks. This meeting follows the launch of economic and financial working groups by U.S. Treasury Secretary Janet Yellen and Chinese Vice Premier He Lifeng in September 2023.
Chart of the Day
📊 Popular Albums
Source: Statista
GRIT Meme of the Day 😂
Tag GRIT Capital on social media for a chance to be featured in our meme or Tweet of the day in our GRIT daily newsletter! 👇
Source: @wallstmemes
The author, publisher or insiders of the publisher may currently have long or short positions in the securities of the companies mentioned herein, or may have such a position in the future (and therefore may profit from fluctuations in the trading price of the securities). To the extent such persons do have such positions, there is no guarantee that such persons will maintain such positions.
Grit is a publisher of financial information, not an investment advisor. Grit does not provide personalized or individualized investment advice or information that is tailored to the needs of any particular recipient. Grit does not guarantee the accuracy or completeness of the information provided in this page. All statements and expressions herein are the sole opinion of the author or paid advertiser.
THE INFORMATION CONTAINED ON THIS WEBSITE IS NOT AND SHOULD NOT BE CONSTRUED AS INVESTMENT ADVICE, AND DOES NOT PURPORT TO BE AND DOES NOT EXPRESS ANY OPINION AS TO THE PRICE AT WHICH THE SECURITIES OF ANY COMPANY MAY TRADE AT ANY TIME. THE INFORMATION AND OPINIONS PROVIDED HEREIN SHOULD NOT BE TAKEN AS SPECIFIC ADVICE ON THE MERITS OF ANY INVESTMENT DECISION. INVESTORS SHOULD MAKE THEIR OWN INVESTIGATION AND DECISIONS REGARDING THE PROSPECTS OF ANY COMPANY DISCUSSED HEREIN BASED ON SUCH INVESTORS’ OWN REVIEW OF PUBLICLY AVAILABLE INFORMATION AND SHOULD NOT RELY ON THE INFORMATION CONTAINED HEREIN. INVESTORS SHOULD OBTAIN INDIVIDUAL INVESTMENT ADVICE BASED ON THEIR OWN CIRCUMSTANCES BEFORE MAKING AN INVESTMENT DECISION
No statement or expression of opinion, or any other matter herein, directly or indirectly, is an offer or the solicitation of an offer to buy or sell the securities or financial instruments mentioned.
The author, publisher or insiders of the publisher may currently have long or short positions in the securities of the companies mentioned herein, or may have such a position in the future (and therefore may profit from fluctuations in the trading price of the securities). To the extent such persons do have such positions, there is no guarantee that such persons will maintain such positions.
Any projections, market outlooks or estimates herein are forward looking statements and are inherently unreliable. They are based upon certain assumptions and should not be construed to be indicative of the actual events that will occur. Other events that were not taken into account may occur and may significantly affect the returns or performance of the securities discussed herein. The information provided herein is based on matters as they exist as of the date of preparation and not as of any future date, and Grit undertakes no obligation to correct, update or revise the information in this document or to otherwise provide any additional material.
Grit does not accept any liability whatsoever for any direct or consequential loss, however arising, directly or indirectly, from any use of the information contained herein.
By using the Site or any related social media account, you are indicating your consent and agreement to this disclaimer and our terms of use. Unauthorized reproduction of this newsletter or its contents by photocopy, facsimile or any other means is illegal and punishable by law.
Please read: Terms of Use, Privacy Policy, Disclosure Policy and Disclaimer Policy
If you have any questions please contact us at info@gritcap.io
Reply