BUSINESS

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In a landmark quarter for The Walt Disney Company, its streaming platforms Disney+, Hulu and ESPN+ have turned profitable for the first time, marking a significant milestone in the company's digital strategy. This achievement comes a quarter earlier than anticipated, driven by the blockbuster success of Pixar's "Inside Out 2" and overall strong performance across Disney's entertainment segment.
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Sony has officially decided not to submit a new bid for Paramount Global, choosing not to counter the ongoing merger between Paramount and Skydance Media. Sony Group President, COO, and CFO Hiroki Totoki announced during a recent earnings call that acquiring Paramount does not align with Sony’s strategic or financial plans.

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Apex Capital Trust has made a bold move by offering to acquire Paramount Global for up to $43 billion in an all-cash deal. This comes amid ongoing merger discussions between Paramount and Skydance Media, led by David Ellison. Apex’s bid includes $35 per share for Paramount’s Class A voting shares and $23.28 per share for Class B non-voting shares, representing a 33% premium over recent stock prices.

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In a sobering sign of the challenges facing traditional television, Warner Bros. Discovery reported a massive $9.1 billion impairment charge related to the devaluation of its linear TV networks. This non-cash, pre-tax charge came after the company's asset reevaluation accounted for the difference between the "fair value" and "book value" of networks like Food Network, HGTV, Discovery, CNN, TNT, TBS, and Cartoon Network/Adult Swim.
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Meta Platforms, the parent company of Facebook, has agreed to pay $1.4 billion to Texas to settle a lawsuit accusing the tech giant of illegally using facial-recognition technology to collect biometric data from millions of Texans without their consent. The settlement, announced on Tuesday, is the largest ever by a single state, according to Texas' legal team, which included the plaintiffs' firm Keller Postman.

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  4. ELON MUSK ANNOUNCES TESLA'S PRODUCTION OF HUMANOID ROBOTS STARTING NEXT YEAR
  5. DISNEYLAND CELEBRATES 69TH ANNIVERSARY WITH SPECIAL $69 TICKET OFFER FOR ANAHEIM RESIDENTS
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  9. ARCHEGOS FOUNDER BILL HWANG GUILTY IN FRAUD CASE
  10. SHEIN PROMISES A BIG INVESTMENT IN THE UK AHEAD OF ITS IPO LAUNCH IN LONDON
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