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A judge on Monday rejected a request to block a San Jose State women's volleyball team member from playing in a conference tournament on grounds that she is transgender. The ruling by U.S. Magistrate Judge S. Kato Crews in Denver will allow the player, who has played all season, to compete in the Mountain West Conference women's championship opening this week in Las Vegas. The ruling comes in a lawsuit filed by nine current players against the Mountain West Conference challenging the league's policies for allowing transgender players to participate. The players argued that letting her compete was a safety risk and unfair. While some media have reported those and other details, neither San Jose State nor the forfeiting teams have confirmed the school has a trans woman volleyball player. The Associated Press is withholding the player's name because she has not commented publicly on her gender identity. School officials also have declined an interview request with the player. Crews' ruling referred to the athlete as an "alleged transgender" player and noted that no defendant disputed that the San Jose State roster includes a transgender woman player. San Jose State will "continue to support its student-athletes and reject discrimination in all forms," the university said in a statement, confirming that all its student-athletes are eligible to participate under NCAA and conference rules. "We are gratified that the Court rejected an eleventh-hour attempt to change those rules. Our team looks forward to competing in the Mountain West volleyball tournament this week." The conference did not immediately respond to an email seeking comment. The players filed a notice for emergency appeal with the 10th U.S. Circuit Court of Appeals. Crews said the players who filed the complaint could have sought relief much earlier, noting the individual universities had acknowledged that not playing their games against San Jose State this season would result in a loss in league standings. He also refused a request to re-seed the tournament without the forfeited losses. The judge said injunctions are meant to preserve the status quo. The conference policy regarding forfeiting for refusing to play against a team with a transgender player had been in effect since 2022 and the San Jose State player has been on the roster since 2022 — making that the status quo. The player competed at the college level three previous seasons, including two for San Jose State, drawing little attention. This season's awareness of her reported identity led to an uproar among some players, pundits, parents and politicians in a major election year. Crews' ruling also said injunctions are meant to prevent harm, but in this case, he argued, the harm has already occurred. The games have been forfeited, the tournament has been seeded, the teams have made travel plans and the participants have confirmed they're playing. The tournament starts Wednesday and continues Friday and Saturday. Colorado State is seeded first and San Jose State, second. The teams split their regular-season matches and both get byes into Friday's semifinals. San Jose State will play the winner of Wednesday's match between Utah State and Boise State — teams that both forfeited matches to SJSU during the regular season. The conference tournament winner gets an automatic bid to the NCAA tournament. San Jose State coach Todd Kress, whose team has not competed in the national tournament since 2001, has said his team has been getting "messages of hate" and that has taken a toll on his players. Several teams refused to play against San Jose State during the season, earning losses in the official conference standings. Boise State and Wyoming each had two forfeits while Utah State and Nevada both had one. Southern Utah, a member of the Western Athletic Conference, was first to cancel against San Jose State this year. Nevada's players stated they "refuse to participate in any match that advances injustice against female athletes," without elaborating. Nevada did not qualify for the conference tournament. The nine current players and others now suing the Mountain West Conference, the California State University Board of Trustees and others include San Jose State senior setter and co-captain Brooke Slusser. The teammate Slusser says is transgender hits the volleyball with more force than others on the team, raising fear during practices of suffering concussions from a head hit, the complaint says. The Independent Council on Women's Sports is funding a separate lawsuit against the NCAA for allowing transgender women to compete in women's sports. Both lawsuits claim the landmark 1972 federal antidiscrimination law known as Title IX prohibits transgender women in women's sports. Title IX prohibits sexual discrimination in federally funded education; Slusser is a plaintiff in both lawsuits. Several circuit courts have used a U.S. Supreme Court ruling to conclude that discriminating against someone based on their transgender status or sexual orientation is sex-based discrimination, Crews wrote. That means case law does not prove the "likelihood of success" needed to grant an injunction. An NCAA policy that subjects transgender participation to the rules of sports governing bodies took effect this academic year. USA Volleyball says a trans woman must suppress testosterone for 12 months before competing. The NCAA has not flagged any issues with San Jose State. The Republican governors of Idaho, Nevada, Utah and Wyoming have made public statements in support of the team cancellations, citing fairness in women's sports. President-elect Donald Trump likewise has spoken out against allowing transgender women to compete in women's sports. Crews was a magistrate judge in Colorado's U.S. District Court for more than five years before President Joe Biden appointed him as a federal judge in January. Get local news delivered to your inbox!
WASHINGTON — Senate Democrats reelected Chuck Schumer as party leader on Tuesday as the party moves into a deeply uncertain time, with no real consensus on a strategy as President-elect Donald Trump prepares to take office. Schumer faced no opposition in the party leadership elections, in which Illinois Sen. Dick Durbin was also reelected to the No. 2 spot and Minnesota Sen. Amy Klobuchar became the new No. 3. In a statement, Schumer, of New York, said he was honored to move the party forward “during this crucial period for our country.” “Our preference is to secure bipartisan solutions wherever possible and look for ways to collaborate with our Republican colleagues to help working families,” Schumer said. “However, our Republican colleagues should make no mistake about it, we will always stand up for our values.” While Schumer remains popular with his colleagues, it is a bleak moment for Senate Democrats, who were hopeful they could hold the majority for the third election in a row. Instead they lost four seats and will be in the minority, 53-47, as Trump takes office. Trump dialed in Tuesday with Senate Republicans as they began laying the groundwork for control of government. The brief call was more celebratory than a prescriptive policy agenda, according to those attending the private GOP retreat, urging senators to confirm his Cabinet nominees as they launch an agenda of tax cuts, deportations and other priorities. "It was a love fest," said Sen. Eric Schmitt, R-Mo. “There was a real sense of unity in the room.” Republicans want to notch an early accomplishment after Trump’s inauguration Jan. 20. Incoming Senate Republican leader John Thune of South Dakota outlined a potential roadmap during the private retreat at the Library of Congress, detailing a potential strategy that would have senators working on an initial legislative package — energy, border security and defense priorities — that could be approved in the first 30 days of the new administration. Next, he explained that the senators would turn to reviving the expiring tax cuts from Trump's first term. The new Congress convenes Jan. 3, and the Senate expects to quickly begin holding confirmation hearings for Trump’s top Cabinet nominees. House Speaker Mike Johnson, R-La., also addressed the GOP senators — noting his slim majority in the House. He “emphasized the need for unity heading into the first 100 days agenda,” his spokesman Taylor Haulsee said. Unlike eight years ago, when opposition to Trump’s narrow election win fueled enthusiasm in their party, Democratic lawmakers and many of their voters are exhausted and looking for answers. So far, Democrats stayed relatively quiet on Trump’s nominees and plans for office. Schumer declined to comment on specifics of any nominees, instead allowing Republican reaction to dominate the conversation. On Monday, Schumer wrote a public letter to Thune, asking him to resist Trump’s pressure to allow him to appoint some of his nominees without a Senate vote and to insist on full FBI background checks for all nominees. But he has said little else about Trump’s upcoming presidency. While some have been more aggressive — Washington Sen. Patty Murray, a former chairwoman of the Senate Health, Labor, Education and Pensions Committee, said that Trump’s nomination of Robert Kennedy Jr. to lead the Health and Human Services Department is “dangerous” and “nothing short of disaster” — several Democratic senators say they are saving their strength and figuring out a focus. “Everybody’s in kind of a wait-and-see mode right now,” said Nevada Sen. Catherine Cortez Masto, part of Schumer’s leadership team. “Under the previous Trump administration, there was chaos all the time, all the time. And I do think it is important to pick your battles.” It’s still unclear which battles they will pick, and Democrats have differing opinions on how to fight them. Hawaii Sen. Brian Schatz, who is also in Democratic leadership, says “anyone who has a grand strategy is full of crap” but thinks Democrats, for now, “need to keep things simple.” “We need to talk about people, protect people, advocate for people,” he said. “Do not talk about protecting institutions. Do not talk about advocating for institutions. It’s a not just a rhetorical shift, but an attitudinal shift. We have to remind ourselves, that we’re not fighting for programs and projects and line items and agencies or norms. We’re fighting for people.” Virginia Sen. Mark Warner said he’s spent a lot of time reflecting, and “I don’t think anyone can claim this was a policy election,” and Democrats need to look at cultural issues. Pennsylvania Sen. John Fetterman says Democrats just need to “pace ourselves” and avoid the “massive freakout” of Trump's last term. Democrats should be preparing, says Connecticut Sen. Richard Blumenthal. He says Schumer is picking his battles “very thoughtfully and strategically.” “We’re thinking about how we protect against using the FBI, or the prosecutorial authority of the Justice Department for retribution against critics,” Blumenthal said. “How we elevate these issues in a way that American people understand them.” Democrats know better now “the extraordinary challenges we’re going to face,” Blumenthal said.A judge on Monday rejected a request to block a San Jose State women's volleyball team member from playing in a conference tournament on grounds that she is transgender. The ruling by U.S. Magistrate Judge S. Kato Crews in Denver will allow the player, who has played all season, to compete in the Mountain West Conference women's championship opening this week in Las Vegas. The ruling comes in a lawsuit filed by nine current players against the Mountain West Conference challenging the league's policies for allowing transgender players to participate. The players argued that letting her compete was a safety risk and unfair. While some media have reported those and other details, neither San Jose State nor the forfeiting teams have confirmed the school has a trans woman volleyball player. The Associated Press is withholding the player's name because she has not commented publicly on her gender identity. School officials also have declined an interview request with the player. Crews' ruling referred to the athlete as an "alleged transgender" player and noted that no defendant disputed that the San Jose State roster includes a transgender woman player. San Jose State will "continue to support its student-athletes and reject discrimination in all forms," the university said in a statement, confirming that all its student-athletes are eligible to participate under NCAA and conference rules. "We are gratified that the Court rejected an eleventh-hour attempt to change those rules. Our team looks forward to competing in the Mountain West volleyball tournament this week." The conference did not immediately respond to an email seeking comment. The players filed a notice for emergency appeal with the 10th U.S. Circuit Court of Appeals. Crews said the players who filed the complaint could have sought relief much earlier, noting the individual universities had acknowledged that not playing their games against San Jose State this season would result in a loss in league standings. He also refused a request to re-seed the tournament without the forfeited losses. The judge said injunctions are meant to preserve the status quo. The conference policy regarding forfeiting for refusing to play against a team with a transgender player had been in effect since 2022 and the San Jose State player has been on the roster since 2022 — making that the status quo. The player competed at the college level three previous seasons, including two for San Jose State, drawing little attention. This season's awareness of her reported identity led to an uproar among some players, pundits, parents and politicians in a major election year. Crews' ruling also said injunctions are meant to prevent harm, but in this case, he argued, the harm has already occurred. The games have been forfeited, the tournament has been seeded, the teams have made travel plans and the participants have confirmed they're playing. The tournament starts Wednesday and continues Friday and Saturday. Colorado State is seeded first and San Jose State, second. The teams split their regular-season matches and both get byes into Friday's semifinals. San Jose State will play the winner of Wednesday's match between Utah State and Boise State — teams that both forfeited matches to SJSU during the regular season. The conference tournament winner gets an automatic bid to the NCAA tournament. San Jose State coach Todd Kress, whose team has not competed in the national tournament since 2001, has said his team has been getting "messages of hate" and that has taken a toll on his players. Several teams refused to play against San Jose State during the season, earning losses in the official conference standings. Boise State and Wyoming each had two forfeits while Utah State and Nevada both had one. Southern Utah, a member of the Western Athletic Conference, was first to cancel against San Jose State this year. Nevada's players stated they "refuse to participate in any match that advances injustice against female athletes," without elaborating. Nevada did not qualify for the conference tournament. The nine current players and others now suing the Mountain West Conference, the California State University Board of Trustees and others include San Jose State senior setter and co-captain Brooke Slusser. The teammate Slusser says is transgender hits the volleyball with more force than others on the team, raising fear during practices of suffering concussions from a head hit, the complaint says. The Independent Council on Women's Sports is funding a separate lawsuit against the NCAA for allowing transgender women to compete in women's sports. Both lawsuits claim the landmark 1972 federal antidiscrimination law known as Title IX prohibits transgender women in women's sports. Title IX prohibits sexual discrimination in federally funded education; Slusser is a plaintiff in both lawsuits. Several circuit courts have used a U.S. Supreme Court ruling to conclude that discriminating against someone based on their transgender status or sexual orientation is sex-based discrimination, Crews wrote. That means case law does not prove the "likelihood of success" needed to grant an injunction. An NCAA policy that subjects transgender participation to the rules of sports governing bodies took effect this academic year. USA Volleyball says a trans woman must suppress testosterone for 12 months before competing. The NCAA has not flagged any issues with San Jose State. The Republican governors of Idaho, Nevada, Utah and Wyoming have made public statements in support of the team cancellations, citing fairness in women's sports. President-elect Donald Trump likewise has spoken out against allowing transgender women to compete in women's sports. Crews was a magistrate judge in Colorado's U.S. District Court for more than five years before President Joe Biden appointed him as a federal judge in January. Get local news delivered to your inbox!The state’s top road safety bureaucrat has rejected suggestions that new high-tech cameras that can catch wrongdoers on West Australian roads en masse are revenue-raisers. Road Safety Commissioner Adrian Warner joined Road Safety Minister David Michael on Monday to announce the rollout of the six mobile cameras from Australia Day. Road Safety Commissioner Adrian Warner and Road Safety Minister David Michael. The smart cameras, leased for five years at a cost of $22 million, can easily spot motorists using their phones or driving without a seatbelt and will be deployed to deter the behaviours that make up a large reason for so many of the fatalities on WA roads. A camera pointed at just one lane on the Kwinana Freeway near Salter Point last month spotted more than 6300 people using their mobiles while driving, and 5100 not wearing their seatbelts. Had that camera been used to issue fines, it could have netted the Road Trauma Trust account anywhere from $5 million to $10 million, depending on the severity of the offences. The rollout of the new cameras will coincide with a three-month grace period where motorists breaking the law will be issues with a caution instead of a fine. Warner said this demonstrated the cameras were not about revenue-raising, but changing behaviours. “It’s anything but revenue raising, that’s why we’re doing caution notices,” he said. “This is about drivers changing their behaviour. We have a culture problem. We need to address it, and these cameras are the first step in doing that.” Warner said 99 per cent of people wore seatbelts, but 20 per cent of people who died in crashes weren’t wearing seatbelts. “That should tell you something,” he said. The announcement comes as WA records its worst road toll in almost 10 years, with 182 deaths. Michael said in this context now was the time for the technology to become a vital and permanent tool to be used across the state. “The message is clear and simple: these cameras are coming, slow down, buckle up and put your phone away,” he said. Start the day with a summary of the day’s most important and interesting stories, analysis and insights. Sign up for our Morning Edition newsletter .Ventive Hospitality Ltd shares were trading in the green after the company made its made its debut on both the BSE and NSE on Monday, December 30, 2024, after its initial public offering (IPO) garnered a strong response. At 10:20 am on Monday, the company's shares were trading at ₹ 742.55 on the Bombay Stock Exchange (BSE). This was 24.40 points or 3.40% into the green. The opening price was ₹ 718.15, with the highest the stock rose so far being ₹ 748.80 Also Read: Who is Satoshi Nakamoto, the creator of Bitcoin? Details of the Ventive Hospitality IPO The ₹ 1,600-crore IPO was open between December 20 and 24, with the allotment finalised on December 26. The company's shares was part of Special Pre-open Session (SPOS), with the stock available for trading from 10:00 am IST. The IPO's price band was set between ₹ 610 and ₹ 643 per share, comprising entirely of a fresh issue of 2.49 crore equity shares. Also Read: 4 IPOs, including six new listings, coming up this week: Details here It got oversubscribed by 9.82 times, getting bids for 14.17 crore equity shares against the original size of 1.44 crore shares. Retail investors booked their portion 5.94 times, Non Institutional Investors (NII) subscribed their portion 13.87 times, and Qualified Institutional Buyers (QIBs) oversubscribed 9.08 times. Prior to debut, Ventive Hospitality's Grey Market Premium (GMP) was ₹ 70 per share, according to reports. Also Read: EV-maker Ola Electric's CMO, CTO resign citing ‘personal reasons’ JM Financial, Axis Capital, HSBC Securities & Capital Markets, ICICI Securities, IFL Securities, Kotak Mahindra Capital Company, SBI Capital Markets were the book running lead managers for the Ventive Hospitality IPO, while Kfin Technologies is the IPO registrar. Details of Ventive Hospitality Ventive Hospitality, incorporated in 2002 as the hospitality division of Panchshil Realty, is a Pune-based a real estate/ hospitality company, focussing primarily on luxury offerings across the commercial, retail, luxury residential and data center segments. Its assets are operated by or franchised from global operators, including Marriott, Hilton, Minor and Atmosphere and in 2017, saw a 50% acquisition by BRE Asia (formerly known as Xander Investment Holding XVI), which is an affiliate of Blackstone.
Tejashwi Yadav slams Prashant Kishor’s party, claims protesting BPSC aspirants’ were ‘misled’If the best time to strengthen is from a position of strength, then Vitor Pereira has helped put Wolverhampton Wanderers in the right spot. Certainly compared with the bedraggled outfit he inherited three games ago, Wolves’ new head coach has inspired a new-found fight and togetherness that has put the club in a much better position than they could have dreamed they would be in heading into 2025. Advertisement A battling point in north London, featuring a dramatic late equaliser — and a final flourish that gave Tottenham Hotspur a serious scare about losing — completed a fine start to his time in charge. But if he and the club needed any reminders of the issues that must be addressed when the January transfer window opens, they got it during an eventful afternoon. When Pereira arrived at Molineux in the wake of Gary O’Neil’s sacking, he took on a squad in need of at least one central defender. Ten days and three games later, despite clean sheets against Leicester City and Manchester United , nothing has changed in terms of what the squad needs. The game against Tottenham underlined this, despite the fixture ending on a huge high for Pereira and his players. With Toti ruled out through injury, Pereira started the game with a three-man central defence featuring just two fit central defenders. Matt Doherty has acquitted himself superbly since moving into the back three but remains a makeshift option. By the end, with Craig Dawson withdrawn as part of Wolves’ desperate chase for an equaliser, Pereira had a back three comprising two players — Doherty and Nelson Semedo — who perform best as wing-backs and a defender in Santiago Bueno who has yet to fully prove his Premier League credentials. In Pereira’s short reign, the first half at Spurs was the weakest 45 minutes so far. The deficiencies at the heart of defence were exposed on a number of occasions, most notably with the concession of another soft goal from a corner. Ten of the 42 goals Wolves have conceded this season have come from corners — the highest figure in the Premier League, one clear of Manchester United and Southampton and five more than anyone else. The 22 goals conceded overall from set pieces, including five from non-direct free kicks, one from a throw-in and five more from penalties, is comfortably worse than Southampton (nine) and Manchester United (10). While defending set pieces takes more than commanding central defenders, they certainly help. As if to underline the point, the data from Opta also shows the 10 headed goals conceded by Wolves is the worst in the league, two ahead of United and Leicester and at least four worse than everyone else. Just a few minutes after Rodrigo Bentancur had nipped away from all of Wolves’ defenders to plant home a free header and cancel out Hwang Hee-chan’s opener, Radu Dragusin was given an equally free ride at another corner and gave Wolves a reprieve by heading just wide. Advertisement Both statistically and with the naked eye, the issue is clear and Pereira reiterated in his post-match press conference that he wants a centre-back next month, especially with Toti’s hamstring injury ruling him out for three to four weeks. “With time, we can have more solutions because we have two young players, two young centre-backs on the bench,” he told his post-match press conference, referring to Bastien Ndemeni, 18, signed in the summer from Nantes, and Alfie Pond , 20, who was on loan at Stockport in League Two last season. While Pereira said he is happy to use full-backs in the outer positions in his back three, he stressed that Wolves are still looking to add an experienced central defender to their ranks. “We are a bit (short of options). It’s a position that we need to bring someone in with some expertise.” There are plenty of positives, though, with Wolves two points clear of the bottom three ahead of what looks like a testing run of fixtures early in the new year. While the display at Spurs was tactically and technically the weakest of the three under Pereira, a team that looked mentally shot in the final weeks of the O’Neil era discovered levels of spirit and resilience rarely seen this season to rescue a point through Jorgen Strand Larsen ’s seventh goal of his debut Premier League season. “I think it’s a good result for us,” said Pereira. “It was a difficult week because we lost Toti before the game, we lost (Matheus) Cunha at half-time, and this is not a big squad. “We knew we must find solutions and the spirit that I saw in the second half (pleased me). “The team tries to play more with the ball, the team tries to create situations to score, and because of this spirit, the personality, I’m very happy and I’m proud of the work.” In less than a fortnight, the mood around Wolves has changed beyond belief thanks to a new voice in the dugout and an injection of simplicity into a team that had begun to look muddled. But the issues that put them in trouble have not gone away. If they want to climb away from it, those issues still need addressing. (Top photo: Glyn Kirk/AFP via Getty Images)
Mumbai, December 30 : The Indian stock market opened lower on Monday as selling was seen in the auto, IT, PSU bank, financial service, FMCG, media, energy and metal sectors on Nifty in early trade. At around 9:30 am, Sensex was trading at 78,523.25 after declining 175.82 points or 0.22 per cent, while the Nifty was trading at 23,758.20 after declining 55.20 points or 0.23 per cent. The market trend remained negative. On the National Stock Exchange (NSE), 815 stocks were trading in green, while 1,454 stocks were in red. According to experts, "as investors leave 2024 behind and look forward to the New Year, there will be more concerns than confidence, at least in the early days of 2025." "The biggest concern for stock markets, globally, is uncertainty surrounding Trump 2.0. The concern is that since market valuations are high any negative news might cause corrections," they added. Stocks To Buy or Sell Today, December 30: HDFC Bank, Tata Motors and Mahindra & Mahindra Among Shares That May Remain in Focus on Thursday, Know Which Stocks to Buy or Sell on December 30. Nifty Bank was down 74.80 points or 0.15 per cent at 51,236.50. Nifty Midcap 100 index was trading at 56,796.90 after dropping 182.90 points or 0.32 per cent. Nifty Smallcap 100 index was at 18,673.75 after dropping 82.10 points or 0.44 per cent. On the sectoral front, buying was seen in the Pharma and Healthcare sector. In the Sensex pack, Tata Steel, M&M, HCL Tech, Tech Mahindra, Maruti Suzuki, Bajaj Finserv, Titan, Kotak Mahindra Bank and Reliance were the top losers. Adani Ports, Bharti Airtel, ITC, Zomato, Nestle India, ICICI Bank, NTPC and UltraTech Cement were the top gainers. The Dow Jones declined 0.77 per cent to close at 42,992.21. The S&P 500 declined 1.11 per cent to 5,970.84 and the Nasdaq declined 1.49 per cent to close at 19,722.03 in the previous trading session on Friday. JSW Energy Share Price Today, December 30: JSW Energy Stock Opens in Green in Early Trade, Surges 5.50%. In the Asian markets, Bangkok and Seoul were trading in green while China, Japan, Jakarta and Hong Kong were trading in red. Foreign institutional investors (FIIs) sold equities worth Rs 1,323.29 crore on December 27, while domestic institutional investors bought equities worth Rs 2,544.64 crore on the same day. (The above story first appeared on LatestLY on Dec 30, 2024 11:02 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com ).AP Sports SummaryBrief at 4:45 p.m. EST
Pressure on a veteran and senator shows what's next for those who oppose TrumpJudge rejects request to sideline SJSU volleyball player
NEW YORK, Dec 12 (Reuters Breakingviews) - David Zaslav may rejoin the media M&A fray. The Warner Bros Discovery (WBD.O) , opens new tab boss is reorganizing his assets into two key divisions, further isolating the media company’s dying TV networks. It comes after rival Comcast (CMCSA.O) , opens new tab announced a full split. Something bigger may be in the offing. WBD said on Thursday it would smash together , opens new tab results from streaming service HBO Max with the studio behind movies like “Barbie”. Corporate restructuring is typically a mundane affair. But WBD’s stock popped 15%. More curiously, three banks - JPMorgan, Evercore and Guggenheim Securities - are advising on a humdrum accounting change. Combined with the hints that Zaslav has been dropping, it adds up to a potential reordering of the media landscape. The Financial Times reported , opens new tab in July that he was weighing strategic options. He mulled bidding for Paramount Global (PARA.O) , opens new tab . In November, after Donald Trump won the U.S. presidential election, he noted that a deal-friendly administration offered opportunities for consolidation. The industry could use it. Traditional television is in a world of pain. EBITDA at WBD’s division is set to crater 37% in 2026 from where it was five years prior, according to Visible Alpha. Comcast boss Brian Roberts took his cue early, announcing in November that he would spin out most of his company’s cable channels. WBD hasn’t gone as far, but Thursday’s move seems like a prelude. After all, there’s tempting value to unlock. The cable division could be worth 5 times its forecast EBITDA of over $7 billion in 2025, below peer Fox’s (FOXA.O) , opens new tab multiple to account for its lack of marquee sports. Put the streaming service’s predicted $1 billion of profit on 20 times, a discount to Netflix (NFLX.O) , opens new tab given its lower profitability. Finally, if Paramount Pictures’ mooted sale is a yard-stick, pegged by Morgan Stanley analysts at about 18 times EBITDA, the studio is worth $35 billion. Total it up and subtract $10 billion of deadweight from corporate costs, and there’s nearly $90 billion in enterprise value, a $20 billion uplift to where WBD is now. A split could nudge investors to recognize this value by freeing growing divisions from a $37 billion debt pile. Creditors might howl over stuffing those IOUs into a separate television business. But a deal could help by strengthening the unit. WBD itself is a product of a spin-merge with Warner Media, separated from AT&T (T.N) , opens new tab in 2022. Perhaps Comcast - or the cable businesses of competitors like Paramount or Walt Disney (DIS.N) , opens new tab - could be a dance partner this time around. Whatever the case, it sure seems like WBD is re-entering the spin zone. Follow @jennifersaba , opens new tab on X CONTEXT NEWS Warner Bros Discovery on Dec. 12 announced that it would adopt a new corporate structure aligned into two divisions. Streaming & Studios will include its film and entertainment production, as well as streaming platforms like HBO. Global Linear Networks will house its traditional television networks. Shares of the company, which owns cable channels including, CNN, the Food Network and TNT, rose over 15% following the announcement. WBD retained JPMorgan, Evercore and Guggenheim Securities as financial advisers. For more insights like these, click here , opens new tab to try Breakingviews for free. Editing by Jonathan Guilford and Pranav Kiran
Early returns positive as Timberwolves make a push to run in transitionTrump's game, China's move
Mumbai: Bollywood megastar Shah Rukh Khan, who was last seen in ‘Jawan’, returned to Mumbai from Alibaug along with his family on Sunday. The actor went incognito as he hid his face inside a giant hoodie while holding his pet dog. His wife Gauri Khan and kids were also seen with him at the Gateway Of India. Last month, the superstar celebrated his 59th birthday on November 2. The actor, who entered the film industry after a brief stint in television, capitalised on the opening of India’s economy, and made a seamless shift from grey characters to the king of romance. SRK is inarguably the face of Indian cinema across the world with several honorary doctorate degrees, a Padma Shri, and the French Legion of Honour. Exclusive Shah Rukh Khan with his pet dog clicked at Alibaug jetty as they leave for Mumbai. pic.twitter.com/LUxJ1itNIT The actor single-handedly pulled the Hindi film industry out of the commercial lull induced due to the Covid-19 pandemic. However, the actor’s streak of consecutive success, with ‘Pathaan’ and ‘Jawan’, experienced a bumpy rise with ‘Dunki’. The combo of one of the most successful and influential filmmakers of modern Hindi cinema, and one of the biggest stars in the world, received a more than lukewarm response at the box-office. The film clashed with the Prabhas-starrer ‘Salaar: Part 1 – Ceasefire’ around the same time last year. Both the films eventually suffered because of the clash unlike the recent box-office clash of Ajay Devgn-starrer ‘Singham Again’, and the Kartik Aaryan-starrer ‘Bhool Bhulaiyaa 3’. Meanwhile, SRK and Gauri Khan’s elder son Aryan Khan is making his directorial debut with a streaming series. The series is set against the backdrop of the Hindi film industry. The multi-genre project promises an unabashed take on cinema through the adventures of a charming, ambitious outsider navigating the lanes of B-town. The series blends a high-stakes narrative with self-aware humour. It also features cameos and larger-than-life characters. This upcoming Bollywood series marks the sixth collaboration between Netflix and Red Chillies Entertainment following the hit dark comedy film ‘Darlings’, crime-drama ‘Bhakshak’, the cop-drama film ‘Class of ’83’, the zombie horror series ‘Betaal’, and the spy thriller ‘Bard of Blood’. Produced by Gauri Khan, the series marks Aryan Khan’s debut as a creator and director, and is set to stream on Netflix in 2025.Xona Expands Business Footprint into Australia, New Zealand, and Southeast Asia to Secure Region's Operational Access to Critical Infrastructure
Trump says Hamas will have 'all hell to pay' if hostages aren't released
