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Antitrust concerns arise for streaming sports venture
U.S. lawmakers Jerry Nadler and Joaquin Castro expressed competition concerns regarding the planned sports streaming joint venture involving Walt Disney, Fox, and Warner Bros Discovery.
They addressed these concerns in a letter to the CEOs of the media companies, questioning the impact on access, competition, and choice in the sports streaming market.
Voicing apprehension about potential consumer price hikes and unfair licensing terms for sports leagues and distributors, they requested responses by April 30, urging the companies to also send their replies to the Department of Justice.
Despite the companies’ announcement in February of launching a joint sports streaming service in the autumn to attract younger viewers, the deal faces DOJ scrutiny and an antitrust lawsuit from FuboTV. While Disney and Warner Bros remained silent on the matter, Fox declined to comment.
The joint venture encompasses a broad range of professional and collegiate sports rights, including NFL, NBA, MLB, FIFA World Cup, and college competitions, offering non-exclusive access to sports networks such as ESPN, Fox Sports 1, and TNT via a new streaming app.
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Shoppers cut back this Black Friday as budgets tighten
UK shoppers are tightening budgets for Black Friday, expecting to spend £622—4% less than last year—favoring discounts.
UK shoppers are tightening budgets for Black Friday, expecting to spend £622—4% less than last year—favoring discounts.
Shoppers across the UK are revising their Black Friday game plan, tightening their budgets as economic pressures reshape spending behaviour. Many are approaching the sales season far more cautiously than before.
Consumers expect to spend an average of £622 this year — a 4% drop from last year — with many relying on discounts and promotions to stretch their budgets. Value is king, with 38% of shoppers saying they’ll only buy items that are at least 50% off.
Rising inflation and income disruptions are adding pressure, and even higher-income households plan to scale back spending across Black Friday and Cyber Monday. Brands and retailers will need to work harder to earn every pound this shopping season.
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National Guard ambush: Afghan man charged after D.C. shooting
Afghan national Rahmanullah Lakanwal arrested for shooting two National Guard members; FBI probes potential terrorism link.
Afghan national Rahmanullah Lakanwal arrested for shooting two National Guard members; FBI probes potential terrorism link.
An Afghan national, Rahmanullah Lakanwal, has been arrested after allegedly shooting two National Guard members in Washington, D.C. Authorities say Lakanwal previously worked with CIA-backed military units in Afghanistan before coming to the United States.
The victims, Sarah Beckstrom and Andrew Wolfe, remain in critical condition. Officials warn that if either victim dies, the charges could escalate to first-degree murder as the investigation intensifies.
The FBI is now examining the case as a potential act of terrorism, while the Department of Homeland Security has announced a review of all asylum cases approved under the Biden administration.
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Hong Kong construction bosses arrested after city’s deadliest fire in decades
Hong Kong arrests construction bosses after deadly fire kills 83; 279 still missing as investigation intensifies.
Hong Kong arrests construction bosses after deadly fire kills 83; 279 still missing as investigation intensifies.
Hong Kong has been shaken by the arrest of construction company bosses following the city’s most devastating fire in almost 80 years, which claimed at least 83 lives. The blaze erupted at the Wang Fuk Court housing complex in Tai Po, where renovation work was underway.
Authorities report that more than 4,600 residents lived in the high-rise blocks, with most victims found within two of the towers. Shockingly, 279 people remain unaccounted for nearly 24 hours after the fire first broke out.
The Hong Kong government has announced a HK$300 million emergency fund to support survivors and affected residents. Meanwhile, police are deepening their investigation, seizing documents and equipment from the company’s headquarters.
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