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iHeartMedia Stock Drops 21%, Even as Radio Recovers
But iHeartMedia’s net loss per share was $0.22 compared to the $0.14 loss per share expected by analysts polled by FactSet, according to DowJones Newswire, and investors were clearly hesitant about the company’s future. iHeartMedia shares began Friday at $26.49 — 415% above its pandemic-era low of $4.31 — but fell by 17% on the day and another 4.9% on Monday (Aug. 9), bringing the two-day drop to 21.1%. Investors have also continued to hammer Audacy, the country’s third-largest radio company, after its $0.01 earnings per share on Friday fell well below the $0.09 consensus estimate. Audacy’s forecasted 10% revenue growth from the second to the third quarter was lackluster compared to iHeart (20%), and investors reacted accordingly. Audacy shares dropped 10....
Sony’s Funimation Completes $1.175 Billion USD Acquisition of Crunchyroll from AT&T
Originally announced back in December of 2020, Sony Pictures Entertainment and AT&T have announced that Sony‘s Funimation Global Group has officially acquired Crunchyroll from AT&T. Funimation’s purchase of the leading anime streaming platform cost $1.175 billion USD and was paid in cash at closing. Although it is unclear of how Funimation and Crunchyroll will merge, AT&T is expected to use proceeds from the sale for its debt reduction efforts. In an official statement, Crunchyroll wrote, “The two brands you know and love will be working together, and we believe this is a great thing for fans and the industry, alike! Both teams are knowledgeable, passionate, and have been committed to the anime community for decades. We couldn’t ask for better partners. We know you may have que...
Sony’s Funimation Completes $1.175 Billion USD Acquisition of Crunchyroll from AT&T
Originally announced back in December of 2020, Sony Pictures Entertainment and AT&T have announced that Sony‘s Funimation Global Group has officially acquired Crunchyroll from AT&T. Funimation’s purchase of the leading anime streaming platform cost $1.175 billion USD and was paid in cash at closing. Although it is unclear of how Funimation and Crunchyroll will merge, AT&T is expected to use proceeds from the sale for its debt reduction efforts. In an official statement, Crunchyroll wrote, “The two brands you know and love will be working together, and we believe this is a great thing for fans and the industry, alike! Both teams are knowledgeable, passionate, and have been committed to the anime community for decades. We couldn’t ask for better partners. We know you may have que...
Tether’s latest accounting review claims USDT tokens are fully backed
Tether’s latest transparency report shows it holds most of its reserves in cash and cash equivalents Tether Holdings, the firm behind the USDT stablecoin, published its independent accountant report yesterday. The independent report claims that the USDT tokens issued by the company are fully backed by its reserves. The report is for the period that ended on 30 June 2021. Per the report, the company held roughly $62,773,190,075 in assets, with most of the funds in cash and cash equivalents. In addition to that, Tether’s liabilities during that period were $62,628,932,116, of which $62,610,829,196 were related to its stablecoin. The review was conducted by Moore Cayman, the Cayman Islands-based accounting firm that handled its last transparency report in April. The Consolidated R...
Tezos price analysis: XTZ could extend rally past $3.50
Tezos could reach a new 30-day high if it continues the rally and gains support from the broader market The cryptocurrency market has enjoyed a decent run over the past few days, with prices of most coins up by 5% or more in the last week. Bitcoin broke the $45,000 resistance level and could be heading towards the $50,000 mark next. Ether is also trading above $3,100, up by nearly 90% from its low price last month. Tezos is also embarking on a slow recovery, similar to the broader market. With the right market conditions, Tezos could look to break past the $3.50 level over the next few hours. Analysts are optimistic about the market and believe prices could soar higher in the coming days. While the short-term price movement might be volatile, analysts are more optimistic about the medium a...
Deutsche Telekom selects Coinbase Custody to store its CELO tokens
Deutsche Telekom revealed its CELO purchase back in March, when it became the first telecommunications company to join the Celo Alliance for Prosperity German telecommunications company Deutsche Telekom recently announced that it had selected cryptocurrency storage solution Coinbase Custody to be the custodian of its CELO tokens. Deutsche Telekom was reportedly attracted to Coinbase Custody by its strong security measures. The custodian provides segregated cold storage, insurance and undergoes regular security and financial audits by external firms. At the end of June, Coinbase Germany became the first company to be issued a licence for crypto custody and trading by the German Federal Financial Supervisory Authority (BaFin) under its new licensing regime. Head of European Sales and Introdu...
Weed’s dirty secret: It’s an energy villain
“For being such a ‘green’ industry, there’s some skeletons in the closet,” said Kaitlin Urso, an environmental consultant with the Colorado Department of Public Health and Environment. Despite piecemeal attempts by states and some growers to reduce their power consumption, at least one expert estimates the industry’s footprint already accounts for more than 1 percent of U.S. electricity consumption and continues to rise. Complicating matters further, federal laws also bar the flow of weed over state lines. That requires companies to grow cannabis in each state where they want to do business and deprives them of the scale that makes other industries more efficient. President Joe Biden and Democratic leaders in Congress have made cutting the nation’s carbon footprint ...
Investors are shelling out six figures for pet rock NFTs
The latest craze to resurface in the effervescent nonfungible token (NFT) scene is a collection of digital pet rocks from 2017 dubbed EtherRocks. On August 8, a single EtherRock sold for a whopping 45 ETH — worth roughly $135,240 at the time. EtherRock #21 purchased for Ξ45 Ether ($135,240.03) 30 mins ago (Aug-08-2021 05:17:15 PM +UTC) Txn: https://t.co/1zx7A3jkyS#EtherRock #EtherRocks pic.twitter.com/UNAUlhDWrW — EtherRock Price (@etherrockprice) August 8, 2021 EtherRock was one of the first crypto collectible NFTs issued on the Ethereum blockchain, following shortly after CryptoPunks’ June 2017 launch. Every EtherRock showcases a still image of a stone, with each token donning a unique color bu being identical in shape and size. Only 100 EtherRocks will ever be minted, with the proj...
‘Crypto Mom’ Hester Peirce slams SEC for $10m Poloniex settlement
Commissioner Hester Peirce, known colloquially as “Crypto Mom,” has slammed the U.S. Securities and Exchange Commission (SEC) for its $10 million settlement with cryptocurrency exchange, Poloniex. The SEC announced the $10 million settlement on Aug. 9, with Poloniex being charged with facilitating trades in unregistered securities between July 2017 and November 2019. The SEC asserted that Poloniex employees “stated internally” that they wanted to be “aggressive” in circumventing securities regulation in a bid to increase market share by listing new digital assets that may be deemed securities under the Howey Test of 1946. Poloniex elected to neither admit nor deny any wrongdoing. On the same day, Peirce slammed the regulator’s actions in a public statement, emphasizing the opaque regulator...
Kevin O’Leary of ‘Shark Tank’ espouses deflationary future for Ethereum
Canadian entrepreneur, investor, and reality television personality, Kevin O’Leary — also known as “Mr. Wonderful” — appears to now be singing Ethereum’s praises as a deflationary asset. Clearly reading from a script, O’Leary took to Cameo — a website that allows users to purchase personalized video messages from celebrities — to espouse the benefits of Ethereum’s August 5 London upgrades. Most notably, the upgrades saw EIP-1559’s highly awaited burn mechanism introduced into Ethereum’s fee market. Mr. Wonderful talks about #ethereum #EIP1559 and #EIP3675 (the merge) and Ethereum becoming cashflow positive and https://t.co/VLOOtk2Wyu pic.twitter.com/lzTNCq1rtU — Taras.eth | Taras Bobrovytsky (@TarasBob) August 9, 2021 “It introduced a very important change to the monetary policy of Ethereu...
Bitcoin investment products still suffering outflows despite price recovery
Institutional crypto products have seen their fifth consecutive week of outflows despite the bullish momentum in the markets. In its August 9 Digital Asset Fund Flows Weekly report, institutional asset manager CoinShares estimated that outflows totaled $26 million for the week. However, the report notes that outflows have shrunk compared to during May and June, when outflows surged to a record $141 million per week. Despite BTC gaining 17.5% over the past week, Bitcoin funds shed $33 million this past week. CoinShares’ own BTC product was the biggest loser for the period with an outflow of $63.3 million while the world’s largest crypto asset manager, Grayscale, remained flat. According to Grayscale’s latest update on August 10, the combined value of assets managed by its funds has cl...
Hollywood Park Opens New 6,000-Capacity YouTube Theater
Hollywood Park and So-Fi Stadium managing director Jason Gannon says YouTube Theater is complimentary to the stadium, which can hold 45,000 to 100,000 guests. “From a flexibility standpoint, it was really important for us to do something like this in a conditioned space,” he says. “We’re very excited to open it up in a couple of weeks from a technology standpoint,” Gannon continues. “There’s a lot of screens and a lot of interactive things around here. That was important in putting this together and also in the partnership with YouTube.” YouTube Theater features a 13 feet by 10 feet digital signage display of the YouTube icon, which can be transformed into an immersive video screen for guests to interact with. The th...
