business
LeBron James Said To Be the First Active NBA Player To Earn $1 Billion USD
LeBron James, a Los Angeles Lakers player, businessman and now movie actor, is the first active NBA player to earn $1 billion USD, according to Sportico. According to Sportico‘s sports valuation reporter Kurt Badenhausen, the 36-year-old’s career earnings, which include salaries and endorsements, currently total just over $1 billion USD. Badenhausen says that James is the “first athlete in a U.S. team sport to hit $1 billion USD, with $330 million USD in playing salary and $700 million USD off the court.” Badenhausen adds that James’ off the court earnings include “current endorsement partners AT&T, Beats, Blaze Pizza, GMC, Nike, PepsiCo, Rimowa and Walmart,” and most recently, a Fortnite skin through an endorsement with Epic Games. Badenhausen clarified that there is a “big difference...
Tencent Makes $1.3 Billion USD Bid to Acquire ‘Forza’ and ‘Hitman’ Studio Sumo Group
Chinese tech and gaming giant Tencent has now made a $1.3 billion USD bid to acquire Sumo Group. The British company was founded in England back in 2003 and has since expanded to own more than 10 studios, boasting an inventory of games including Forza Motorsport 7, Hitman 2, Team Sonic Racing, Crackdown 3 and Little Big Planet 3. The pending acquisition forms part of Tencent’s continuous expansion into the gaming industry through acquisitions and purchasing stakes in other developers. The Chinese firm currently owns 100 percent of League of Legends developer Riot Games, 40 percent of Fortnite‘s Epic Games, 23 percent in Dontnod, and five percent each in Activision Blizzard, Ubisoft and Paradox. As of now, no deal has been finalized yet, with Sumo Group sa...
These 4 Motown Stars Received Kennedy Center Honors Before Label Founder Berry Gordy
Gordy, 91, founded Motown Records in 1959. Four of his biggest stars received the honor before he did. Take a look: Stevie Wonder: Wonder was just 49 when he got the honor in 1999. That makes him one of the youngest Kennedy Center Honorees in history, along with LL Cool J (2017) and Midori (2021), who were also 49 when they were honored in 2017 and 2021, respectively, and the creators of Hamilton: An American Musical, who were even younger when they received a special Kennedy Center Honor in 2018. Wonder is the only artist in Grammy history to win album of the year with three consecutive studio albums: Innervisions (1973), Fulfillingness’ First Finale (1974) and Songs in the Key of Life (1976). Wonder has amassed 25 Grammys and also won an Oscar for “I Just Called to Say I...
KSI’s ‘All Over The Place’ Races to U.K. Chart Lead
KSI will hope to go one better than the performance of his debut album Dissimulation, which peaked at No. 2 in 2020. Also new to the chart blast is John Mayer with Sob Rock (Columbia), his eighth studio album. It’s at No. 3 on the midweek chart, and should give Mayer his third U.K. Top 10. Just one place behind is Pop Smoke’s second posthumous LP, Faith (Republic Records), new at No. 4 midweek. Meanwhile, Hail Satin (Columbia), the Record Store Day release from Foo Fighters, as the disco alter-ego Dee Gees, is tracking for a No. 7 bow. If it holds it momentum, it’ll mark the Foos’ 12th Top 10 album. Over on the Official Singles Chart Update, Ed Sheeran stays on track for a fourth week at No. 1 with “Bad Habits” (Asylum), ahead of the fast-rising “Heartbreak Anthem” by Galantis, ...
Farm Aid to Return Live in September With Willie Nelson & More: ‘We Need Each Other’
Farm Aid’s mission is to build a strong, family-farm-centered system of agriculture in America. Since 1985, with the support of artists who contribute their performances, the organization has raised more than $60 million to support programs that help family farmers thrive and expand the markets for their food. “Live performances by artists who are passionate about agriculture and good food are the deep roots that sustain Farm Aid’s year-round work for family farmers,” says Farm Aid executive director Carolyn Mugar. More than a concert, the Farm Aid festival is an annual gathering place for activists involved in the Good Food Movement and related concerns with the environment and social justice. Attendees in Hartford will have access to Homegrown Concessions, Farm Aid’s trademarked menu of ...
Bill Ackman on Pivoting UMG Bid: ‘There’s No Business I Have More Confidence In’
In an interview with Billboard, Ackman emphasized that Pershing Square — the hedge fund with $13.7 billion under management, not the SPAC it founded — will step in and acquire a stake in UMG. “Our largest investment is going to be Universal Music Group, so that should tell you something,” he says. “There’s no business I have more confidence in the long-term trajectory of than this company — or the music industry in general. Piracy almost killed this business and streaming has made it better than it was with CDs and records in the ’90s.” Ackman likes that companies such as Apple, Google and Amazon shoulder the load of building the streaming services and acquiring customers, leaving record labels to develop, promote and license their music. “You have the most well capitaliz...
Netflix Hires Former EA Executive to Lead its Gaming Venture
Netflix has hired a former Electronic Arts and Facebook executive to spearhead its new venture into gaming. Mike Verdu — the former Facebook vice president heavily tied to working with developers on Oculus — joins Netflix as vice president of game development. Amongst the many titles worked on, Verdu was also instrumental in the Star Wars and Sims video game franchises for EA. According to a report by Bloomberg, the streaming giant looks to offer gaming “within the next year” on its platform. Verdu has noted that gaming, like other immersive technology, is “an important sort of modality to deepen that fan experience.” Netflix shares rose as much as 3.3 percent to $566 USD after Bloomberg broke the news. Although a bold move, entering the gaming world is showing to be the right directi...
The Kid Laroi and Justin Bieber’s ‘Stay’ Bows at No. 1 In Australia
It’s the fifth leader for Bieber, after “What Do You Mean?” and “Love Yourself” (both in 2015), “I Don’t Care” with Ed Sheeran (2019) and “Peaches” (2021). “Stay” will appear on Laroi’s forthcoming mixtape F**k Love 3 EP, due out next Friday (July 23). Further down the list, BTS bag a fourth Top 10 singles in Australia as “Permission to Dance” (Big Hit/Orchard) bows at No. 6, while the K-pop phenom’s previous release “Butter” lifts 37-26. Billie Eilish has another Top 20 to her name as “NDA” (Interscope/Universal) opens at No. 16. The California star’s latest release is lifted from her forthcoming sophomore album Happier Than Ever, due out July 30. “NDA” is the fifth track from the album to impact the ARIA Singles Chart, including Top 10s “My Future,” “Therefore I Am” and “Your Power.” Mea...
Carly Pearce Set to Host 2021 ACM Honors
As previously reported, Hillary Lindsey — known for penning “Jesus, Take the Wheel,” among many other major country hits — will be honored with the songwriter of the year award, whileJay Joyce will receive the award for producer of the year for the fifth time. “We look forward to having industry and fans join us as we recognize the significant accomplishments of our 55th and 56th studio recording awards, industry awards, songwriter of the year and special awards winners with a night of unforgettable performances,” said Damon Whiteside, CEO of the ACM. The 14th annual ACM Honors will be livestreamed for viewers on Circle network’s channels. Alternatively, tickets to the live show are available for purchase on&...
Swedish House Mafia Returns: In Stockholm With the Dance Music Legends
And the group was still hard at work on more new music: In June 2019, the members were in the studio with A$AP Rocky the day before he turned himself in to Swedish police following an alleged street brawl (and was subsequently held in detention for two months). Still, the group dragged its feet on releasing singles — it still felt the album was unfinished. Then, everything stopped. The COVID-19 pandemic struck — and the Swedes, in a way, got what they wanted: much more time to work on the music. “Now we laugh about the early ideas,” says Angello. “We’re like, ‘Holy s–t — we were supposed to put that out?’ ” The pandemic may have had some silver linings for artists, but the Swedes weren’t immune to its many downsides. Sweden never fully locked down and only recommended wearing ma...
LeBron James’ SpringHill Co. Rumored to Hit $750 Million USD in Valuation
Founded by NBA All-Star LeBron James and longtime business partner Maverick Carter, video production company SpringHill Co. is in talks with potential investors for the sale of a piece of the firm which would amount to $750 million USD in valuation. Rumor has it that the media firm and Nike were in discussion about a potential complete company sale, but SpringHill cleared the air as it’s not looking to sell itself outright. The company has garnered a lot of interest across various industries with the likes of Nike as well as streaming-video providers and tech companies due to its incline in major projects. Its portfolio includes the recent Warner Bros. film Space Jam: A New Legacy staring James, a remake of the 1990 classic comedy House Party for New Line and Adam Sandler’s upcoming film H...
A24 Reportedly Explored a Possible Sale With a $3 Billion USD Asking Price
Indie film and television studio, A24 has reportedly explored a potential sale, with the asking price that was set between $2.5 billion USD to $3 billion USD. The studio, which is behind the Oscar-winning film Moonlight and Adam Sandler’s Uncut Gem has apparently been in multiple discussions regarding a sale of the production house for more than a year and a half. Sources have told Variety that as of now, the company is looking to prioritize its expansion as opposed to a sale. In recent years, A24 has made a name for itself in the industry, with critically acclaimed films, making a mark by tackling different storylines and genres. Its 2016 success with Moonlight placed the studio on the map, reportedly a large part of the going price for A24. The studio has expanded into producing shows wh...
