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Saturday, September 30, 2023
Wednesday, September 27, 2023
Media Man International Blog: Andrews Leaves a Winner
Media Man International Blog
Andrews Leaves a Winner
By Cory Bernardi
27 Sept 2023
Hi there,
While many politically right-of-centre Australians would be cheering the resignation of Victorian Premier Dan Andrews, the bloke leaves as a winner.
He won three elections and ran Victoria with an iron fist while misusing buckets of taxpayers money.
His government was mired in corruption scandals and linked to the largest number of COVID deaths in Australia. He ran Victoria into record debt while imposing new and outrageous taxes targeting his non-supporters.
On top of that, Andrews pursued a radical social agenda on euthanasia, abortion and drug use.
It's incredible to think he was largely untouched by Victoria's Liberal opposition despite the target-rich environment.
That's why he is a winner.
He leaves on his terms, is off the hook on his COVID accountability and, while leaving Victoria in a parlous state, he has a taxpayer funded statue in his honour.
It says a lot about politics and the media in Victoria that he leaves virtually unscathed.
The opposition didn't lay a glove on Andrews. He suffered more damage from internal Labor foes than his political opponents.
As I have said before, where the adversarial politics of accountability fails, it falls to the media to do their job of exposing bad actions and policies.
Unfortunately the media in Victoria failed too.
They repeatedly failed to ask the hard questions during Andrew's rein and were particularly sycophantic during the COVID pandemic.
So while Andrews emerges a winner, we are all losers as a result.
The template for authoritarian politics is now set. Politicians have learned that they can get away with almost anything as long as they keep the media on side.
They act as the gatekeepers to shaping public opinion and their omissions are even more effective than their exposes.
Where the mainstream media fails, the independent media often succeeds.
However, these revelations are usually dismissed as conspiracy theories or misinformation by those with a vested interest in outcome.
We've seen that with propaganda outlets like their ABC, the biased fact-checkers and the tech titans.
Thanks to Senator Alex Antic and his Freedom of Information requests, we also know that government has a role in censoring content they deem inappropriate.
So the two most untrustworthy public voices - politicians and a biased media - are trying to close down access to the truth through alternative outlets.
That only makes those outlets even more important.
Have a great day.
Cory
Monday, September 25, 2023
Media Man International Blog: News Media
News Media
Showbiz News from Hollywood; Screenwriters reach tentative deal with studios to end strike
The show must go on - eventually, anyway! With or without a dash of AI et al.
The Writers Guild of America, which represents thousands of Hollywood writers, advised Sunday PM that it has reached a tentative agreement on a new contract with the major entertainment studios, paving the way to end the 146-day strike that has brought television and film production to a standstill. That's right - 146 days! That's some kind of record.
"The WGA and [Alliance of Motion Picture and Television Produces] have reached a tentative agreement," according to an online WGA statement that discloses that more details will follow after the contract language has been finalized...ink had dried, you know the drum.
Though the AMPTP trade alliance of major film and television producers has yet to comment on the development, WGA described the contract to members in a letter as "exceptional." It contains "meaningful gains and protections for writers in every sector of the membership," it said.
The roughly 11,000 writers were demanding "economic fairness," streaming-service residuals and regulation on the use of AI (artificial intelligence) - take that, you bots!
"What we have won in this contract ... is due to the willingness of this membership to exercise its power, to demonstrate its solidarity, to walk side-by-side, to endure the pain and uncertainty of the past 146 days. It is the leverage generated by your strike, in concert with the extraordinary support of our union siblings, that finally brought the companies back to the table to make a deal," it said.
The language of the contract was being finalized, it said, with guild members to vote on whether to accept it in the coming days.
Union members are being advised that "no one is to return to work" unless specifically authorized by the guild.
"We are still on strike until then," it said, though it was suspending picketing.
The Hollywood writers went on strike early May after negotiations with the studios and streaming services fell through, following six weeks of talks, which brought a halt to television productions.
Many insiders as well as regular consumers of streaming media shows and other had noticed a dive in overall quality.
In mid-July, the Screen Actors Guild-American Federation of Television and Radio Artists joined the movement, shutting down any active studio productions.
The deal announced late Sunday does not mean the resumption of Hollywood productions, as SAG-AFTRA members remain on the picket lines, and WAG is encouraging its members to join in the actors' fight.
SAG-AFTRA issued a statement congratulating WGA on the deal it said it would review.
"We remain on strike in our TV/Theatrical contract and continue to urge the studio and streamer CEOs and the AMPTP to return to the table and make the fair deal that our members deserve and demand," it said.
The agreement was reached following a recent breach in a stalemate in negotiations, which began about mid-August.
The two sides were quiet until Sept. 14, when they said they had agreed to return to the negotiating table, and they have been hashing out a deal since Wednesday.
"After a nearly five-month long strike, I am grateful that the Writers Guild of American and the Alliance of Motion Picture and Television Producers have reached a fair agreement and I'm hopeful that the same can happen soon with the Screen Actors Guild," Los Angeles Mayor Karen Bass said in a statement.
"Now, we must focus on getting the entertainment industry, and all the small businesses that depend on it, back on their feet and stronger than every before."
The strike, which has waylaid productions for months, has hurt the bottom line of studios, with Warner Bros. Discovery telling the Securities and Exchange Commission earlier this month in a filing that the strikes have "negatively impacted" the company by a cost of up to $500 million. Some folks in and around the biz are pleased that that likes of a somewhat "woke and broken" Disney had lost so much money.
Under the watercooler Media heard, "More about fairness, distribution of funds, and a fair days pay for a fair days work. We showed the world and this script kind of wrote itself"!
If 99pc of start-ups fail, how do AirTree and Blackbird make money?
Starting an ambitious technology company is undeniably hard, but fresh data suggests failure rates aren’t as high as parts of the industry say.
On a darkened screen, a line of text lays out the stakes for The New Hustle, a 2017 documentary series: “Over 92 per cent of start-ups fail. What separates those who don’t?”
Six years later, the production company behind that feature, Founder Films, was back with a new documentary series called Founder on the same topic. This time, the odds seemed to be stacked even higher against start-up founders. “Ninety-nine per cent of start-ups fail,” the on-screen text from the documentary reads.
Apparently, those six years were a grim time for start-ups, whose founders were portrayed as valorous figures surmounting almost impossible odds. Yet between 2017 and early 2022, start-up funding soared in Australia, giving even questionable firms war chests of cash to sustain their dreams for years.
Statistics requested by The Australian Financial Review from the country’s biggest tech venture investors suggest many more start-up companies are staying afloat than the most heightened founder mythology suggests.
The disparate figures reflect an industry that does not have a uniform definition of failure even as commentators contend that failure is discussed too harshly, or too much, or not enough. And they show how failure rates are deployed to either showcase investment performance or valorise founders.
Startmate, the long-running accelerator, has reported that 63 per cent of the more than 230 companies it has a stake in are still active. AirTree Ventures, the large Sydney-based fund that was founded in 2014, said its failure rate – defined using the fairly common rule of investments where it has got back less than it invested – is lower than 20 per cent. Company closures in its portfolio are even lower, at less than 3 per cent.
Blackbird Ventures, meanwhile provided data from its first fund, raised in 2013, where 25 per cent of the companies have closed down, compared with the same number of exits and 10 that are still operating. Square Peg, the third major Australian venture fund, did not make any data available.
Better than regular businesses
Those start-up failure rates compare fairly favourably to the economy as a whole. For the past four years, failure rates for all Australian businesses with staff have hovered around 8 per cent, according to data from the Bureau of Statistics.
But unlike small-business investors who want to preserve capital and grow slowly, venture capitalists bet on a host of companies hoping a small percentage will become enormously valuable in the knowledge many will fail.
That has led some start-up industry figures such as Finder founder Fred Schebesta to argue some high-profile failures should be celebrated to avoid discouraging founders.
James Alexander, a partner at early-stage investor Galileo Ventures, said he did not support the idea of “celebrating” failure, though he acknowledged that founding a business, whether small business or start-up, was very hard.
“Do I think failure is positive? No, I don’t,” Mr Alexander said. “I don’t think [failures] are positive, but I don’t think they’re anywhere near as bad as people make them out to be.”
Mr Alexander’s portfolio has four failures, defined as firms shut down or sold that returned less than invested capital, out of 18 bets. But he said that if one of those surviving companies became a super valuable firm akin to Google, “No one’s going to mind if we lose money on five, 25 or 30 per cent of the investments or even more.”
Founder Films, owned by the founder of $2.7 billion start-up SafetyCulture Luke Annear, declined to comment on its figures, but a spokesman pointed to a 2012 Wall Street Journal article reporting Harvard research that 95 per cent of start-ups fail to hit projected figures. The 92 per cent failure rate number is also all over the internet, with the figure derived from a 2011 report by an organisation called Startup Genome that no longer appears online.
Mr Alexander said that high failure rate figures were a reflection of the way venture firms sought out exceptional results.
“When people throw out these things like ‘90per cent of businesses fail’, I think usually they mean 90 per cent of businesses never become big,” Mr Alexander said.
Murray Hurps, who runs the industry survey project Startup Muster, did not provide data on failure rates because the varying definitions make it hard to collect. But he said that average failure levels were not as useful as understanding the proposition of investing or building an individual firm.
“There are many kinds of lower risk, technology-enabled entrepreneurial pursuits that entrepreneurs should be considering, and more today than there ever were before,” Mr Hurps said.
What Lachlan Murdoch told fundies in Sydney two weeks ago - September 23, 2023
Lachlan Murdoch’s been in and around Australian business circles for most of his working life, but had little to do with the country’s big investors. Until a few weeks ago.
A couple of weeks ago, Lachlan Murdoch, 52, broke cover with Australia’s investor ranks.
Not one to normally front Australia’s fund managers on roadshows, Murdoch was the headline attraction at a small and private dinner held only a few kilometres from his home in Sydney’s inner-east.
The small crowd were all fund managers – big name stock pickers from the larger institutional equities shops in Sydney – most of who had little to do with Murdoch or his father Rupert over the years, and some of who had never met him despite him being in and out of Australian business circles his whole working life.
Murdoch spoke off the cuff. There were no notes or powerpoint slides, no script and no minders, just an update on the family’s two businesses News Corporation and Fox Corporation, and where he wanted to take them.
Perhaps playing to the small crowd, he repeatedly stressed he was 100 per cent focused on creating shareholder value, according to those at the dinner. It was a friendly crowd; money is the name of the game in funds management, and fund managers tend to bow down to billionaires. He was valued at $3.35 billion on this year’s AFR Rich List.
He was clearly proud some of the investments he had overseen – high growth and conviction bets like News Corp’s $13 billion stake in REA Group, student loans business Credible and streaming business Tubi Corporation for example – and gave the impression of a hands-on and pretty passionate senior executive.
He travels back to US head office every second week from his home in Sydney, where his children go to school. When he’s in Sydney, he tends to work New York hours. That’s the sort of stuff that top Sydney money managers are glad they do not have to worry about.
There were no hints about what was to come and fund managers left the dinner not knowing that only a few weeks later, Murdoch would finally get the keys to his father Rupert’s News Corporation.
He was announced as News Corp’s executive chairman on Thursday night, the same role he holds at sister company Fox Corporation, while his 92-year-old father would step off the board and become chairman emeritus of both companies.
Changing of the guard
Lachlan Murdoch’s succession may end a tumultuous 12 months for the family’s two companies. This time last year, the Murdochs were planning to reunite their News Corp and Fox businesses, calling it the next logical step of the strategy that led the media billionaires to sell entertainment giant 21st Century Fox to Disney in 2017 for $US52 billion.
It was about bringing together live sport and news, two things that consumers want immediately and are arguably less discretionary than TV entertainment and movies – but the deal was off a few months later called “not optimal for shareholders of News Corp and Fox at this time”.
In reality, it also faced considerable backlash from investors including Sydney-based Airlie Funds Management, who didn’t want to see News Corp combined with Fox. News Corp owns the company’s stake in REA and Move in the United States, Foxtel in Australia, Dow Jones and HarperCollins, among other businesses, and trades at a significant discount to its asset backing.
Soon after, it also abandoned talks to sell its US digital real estate business Move for about $US3 billion ($4.4 billion).
Murdoch’s comments from the dinner were ringing through those fund managers’ heads on Friday, as they tried to work out what it meant for the future of the family’s media empire.
It was a timely introduction to a man who’s well known in media circles – there are plenty of former News Corp executives who’ll give their two cents worth and recount fronting him when they hadn’t made budget or wanted money for something – but less in local markets.
Those close to him say he’s been fronting investors in the US for a while, just not Australia. Fox Corp isn’t listed in Australia, while News’ ASX-listing is small.
One thing that stuck in the Australian fund managers’ heads were Murdoch’s remarks about M&A.
He said large media sector deals were hard to get past the antitrust regulator in the United States – which is similar to deals in every concentrated sector (banking, energy, tollroads) in Australia.
So, investors are thinking there is unlikely to be any giant strategic pivot in the near to medium term, at least, although are fully aware that deals (big and small) have been a big part of the family business under Rupert Murdoch and Lachlan has been at the table for plenty of them.
“Evolution not revolution” is how his backers were putting it on Friday, pointing out that he’s done a long apprenticeship under his father at News Corp and has been Fox executive chairman since 2105 (it was 21st Century Fox before a $US50 billion sale of its film production business to Disney) . It is still all about news, sport and digital, and looking forwards not backwards.
Closing the gap in value
The ASX-listed shares were up 1.9 per cent to $32.25 in Friday afternoon trade.
Murdoch junior’s most notable was paying about $10 million for a 44 per cent stake in realestate.com.au (later REA Group), following a direct approach from Sydney real estate agent and company director John McGrath, while others for the company include Credible, where loans are up three-times since News Corp’s acquisition, Tubi, which has tripled subscribers.
Of course, it has not been all winners. He’s still remembered for One.Tel, a telecommunications company that collapsed in 2001, and Channel Ten owner Ten Network Holdings, which went into administration in 2017. News Corp’s betting play is also in trouble.
One of his loudest supporters in Australian markets is Sydney stockbroker Angus Aitken, who is known for backing family-led businesses and was quick to tell clients that News Corp was in good hands.
“Lachlan Murdoch has the same entrepreneurial genes as his Dad and has zero to prove, he already has proved himself in spades,” he said in a 1400 word note to fund managers that hit inboxes as the sun rose over Sydney Harbour.
“Anyone who has heard Lachlan talk about these businesses knows he knows these businesses inside out and knows how to allocate capital and back people within these firms with that capital for the long term.”
He said Rupert Murdoch had turned a three-paper tiddler into $US100 billion of assets, if you add the market capitalisations of News and Fox (about $US30 billion) and some of the big asset sales (c$US70 billion). “It is hard to think of anyone who will replicate that in life.”
Lachlan Murdoch will likely struggle to create anywhere near that much value, but he also doesn’t have to. Investors will be happy enough if he can close the discount between New Corp’s share price and asset value – which funds like Melbourne’s L1 Capital have talked about for years. That discount was so glaring that stockbroker UBS for a while was putting out a regulator News Corp note, pointing out the difference between the sum of its parts and share price.
The bigger news on Friday was the end of the Rupert Murdoch-era, after a career stretching seven decades. Lachlan’s ascension to the top of both companies was telegraphed by his father in the past few years. Second son James moved to the fringes of the family business after the Fox/Disney deal in 2019.
'Take it over’: Perth lands WWE’s first Aussie event in six years - September 23
One of the world’s biggest sporting organisations is coming back to Australia for the first time since taking over the MCG in 2018.
The WWE will return to Australian shores for the first time since 2018 in February after the Elimination Chamber event was announced for Perth’s Optus Stadium.
After months of speculation, the sports entertainment behemoth announced that the 60,000 seat stadium would host the live event on Saturday February 24.
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The last time the WWE came down under was in 2018 when the Super-Show Down took over the MCG with Ronda Rousey stunning a packed house before Triple H pinned The Undertaker.
In the meantime, Aussie Rhea Ripley has become one of the sports’ biggest names and is expected to star as the WWE comes back to Australia, while Grayson Walker is also a near certainty to fight.
While the schedule has not yet been released, it will culminate in at least one six-man cage match with some of the promotion’s biggest names set to visit just one month out from WrestleMania 40.
Wrestlers Kofi Kingston and Xavier Woods joined WA Premier Roger Cook for the announcement.
“These are set to be the hottest tickets in town and fans can pre-register and secure their spot from today,” Cook said.
“We expect the premium live event at Optus Stadium will be a sellout with thousands of east coast and international fans flocking to Perth, Western Australia to witness this exclusive show.”
The show is expected to reach an audience of one billion people worldwide and Kingston, who is one of the members of The New Day alongside Woods and Big E, said the Elimination Chamber could “totally change the trajectory of whatever is going on in the WWE landscape”.
“Two combatants enter and there are four pods with the other combatants within them,” Woods added.
“As time passes, one of those pods will open until all of their combatants are inside of the ring.
“And then the match officially begins and you lose by pinfall or submission until there is one combatant standing and they are the winner.
“And the reason that this is so intense is because you are waiting for people to get into this match.”
The wrestlers involved are expected to have community activations and meet-and-greets with fans, and Kingston said they “really come into a town and take it over”.
The WWE has recently merged with the UFC, which had a massive show earlier this year in Perth when Alexander Volkanovski lost a controversial bout to Islam Makhachev for the lightweight title.
Expend4bles
A new generation of stars join the world's top action stars for an adrenaline-fueled adventure in Expend4bles. Reuniting as the team of elite mercenaries, Jason Statham, Dolph Lundgren, Randy Couture, and Sylvester Stallone are joined for the first time by Curtis "50 Cent" Jackson, Megan Fox, Tony Jaa, Iko Uwais, Jacob Scipio, Levy Tran, and Andy Garcia. Armed with every weapon they can get their hands on and the skills to use them, The Expendables are the world's last line of defense and the team that gets called when all other options are off the table. But new team members with new styles and tactics are going to give "new blood" a whole new meaning.—Lionsgate
The Unbreakable Bunch
An Alien Force Came To Conquer - They Had No Idea This Bunch Was In Town.
Producers Ray “Glacier” Lloyd and Steve Luther Wilson, aka “Big Sexy” Luther Biggs, trained at the Power Plant and broke into the business about the same time. A decade ago, the two started talking about a movie.
“We had this idea,” says Lloyd, “What if a bunch of pro wrestlers had to step out of their wrestling world and into a fantasy world where they have to battle aliens?”
“We’re both big fans of The Magnificent Seven, The Wild Bunch, The Dirty Dozen, and The Professionals. They were all ensemble casts, and most of them were somewhat diverse. We thought, ‘What if we could make a movie like that and celebrate the wrestling business?’”
Most wrestling movies either focus on the dark side, or they go for the campy humor,” says Lloyd. “They make movies like The Wrestler, which was very good and yes, that is how some guys turn out. Or they make fun of wrestling and wrestling fans. We wanted to celebrate what’s great about being a wrestling fan and what’s fun about the business without making fun of it. We didn’t think that anyone else was going to make a movie like that, and even if they did, they probably wouldn’t get it right.”
“The story changed a lot from that first draft, but we tried to stay true to the essence of the characters and what they stood for,” explains Lloyd.
Ernest “The Cat” Miller
Stan Hansen
Tonga Uli’uli Fifita, aka Haku, aka Meng
Larry Zbyszko
Diamond Dallas Page
David “Gangrel” Heath.
“An ensemble cast like this has never been done in a wrestling film.” says Lloyd. “We also worked with some great actors we cast in the non-wrestling roles. Nicholas Logan did a tremendous job in our movie, and he’s had some great roles before and after The Unbreakable Bunch. I’m excited to see where his career goes.”
“These are men like us who have their life together,” says Lloyd. “They have good jobs, a nice home. You also see how these guys come together to put on a show. It’s a team effort, whether it’s for one night or a tour. Then they all go their separate ways. That’s something we’ve never seen in a movie about wrestling, and we wanted to portray that.”
“Wrestling is at its best when everyone can enjoy it,” says Lloyd. “A lot of the fans I meet at shows and convention are grown ups who were kids when I was first on TV. Now they’re bringing their kids because they want the next generation to enjoy wrestling like they did. There’s definitely some action, but we kept it to a PG or PG-13 level. We really want families to enjoy this picture, even if they don’t watch wrestling.”
“We want this movie to be something that wrestlers and wrestling fans will be proud to recommend to people,” says Lloyd. “At the end of the day, it’s about camaraderie, loyalty, friendship. It’s about the noble side of professional wrestling.”
WWE Hall of Famer Larry Zbyszko via aQ&A on AdFreeShows.com. In addition to taking fan questions, he also talked about the movie, “The Unbreakable Bunch” that Ernest Miller, himself, and several other wrestlers are in:
"Ray Lloyd, Luther Biggs, had been working their butts off for some years to get this movie going. They wrote it, and then they had to get financed. At the end of 2009, we filmed it and it really came out great. I mean, it's a movie about wrestlers saving a town from aliens, but it's not a wrestling movie. It's kind of a science fiction action movie with emotion and you'll find yourself laughing when you don't expect to. I mean, it was really well done. It's a family friendly movie. Nothing dirty, nothing raunchy. I mean, if you're not a wrestling fan, you're gonna love it too because it's not about wrestling. But it was really well done. I've been dying to see it. As soon as we finished it, like at the end of 2019 right before Christmas, a couple of months later this stupid COVID hit and slowed it down a little bit with the editing, but there was the guy alone editing in the booth. So it's finally all done with the editing and the sound and the music and the special effects, and I hear it's going to come out October 13th. I can't wait to see it."
Zbyszko talking about two movies he should have been in:
"I should have been in two big movies. I'll tell you a story quickly. Alright, 1976 or something I was wrestling in California a little bit. I was wrestling a man and I got a message to talk to some producer in the audience. So after the match, I went to talk to this guy. He said, 'Hey, I'm making my first movie. It's a low budget movie, but I'd like to have you in it because I like the way you look and move.' So I said, 'Okay.' So I went down to his office which turned out to be a crap hole and got a script and read it and I'm going, oh my God. Three weeks in the desert shooting this movie for hardly any money for the guy's independent little movie. It's eating babies and stuff. I said, 'Oh God.' So I nicely told the guy I couldn't do it. I was busy. It turned out the guy's name was West Craven and it was his first movie, 'The Hills Have Eyes.' It became a classic and I'm supposed to be it."
"Then some years ago in like the mid 80s or something. I got a message at the NWA office to call Jerry Reed. I'm thinking Jerry Reed? The only Jerry Reed I know is the country western singer, unless it's Jerry Reed the IRS guide. So I call this number and it's Jerry Reed the singer. He says, 'Son, you're my favorite guy.' We talked and he wanted me to be in the last Smokey and the Bandit movie they were going to make because Jackie Gleason just died and they wanted me to play the part of a young a**hole sheriff after the bandit in the last movie. But right when they were going to do the last movie, that's when Burt Reynolds went off the deep end taking all the Halcyon pills and getting divorced from Loni and getting wiped out, so they never made the movie. So I was supposed to be in the Hills Have Eyes and the last Smokey and the Bandit never happened, but The Unbreakable Bunch, I'm in like the whole movie and I can't wait to see the thing."
AEW WrestleDream - October 1, 2023.
Broadcast into Australia via FITE
Bryan Danielson vs. Zack Sabre Jr.
Hangman Page vs. Swerve Strickland
AEW Tag Team Champions FTR defend against Aussie Open
ROH Tag Team Champions Adam Cole & MJF defend against The Righteous (Vincent & Dutch)
NJPW Strong & ROH World Champion Eddie Kingston defends both titles against ROH Pure Champion Katsuyori Shibata
TNT Champion Christian Cage defends against Darby Allin in a two out of three falls match
TBS Champion Kris Statlander defends against Julia Hart
Will Ospreay, Konosuke Takeshita, and Sammy Guevara vs. Kenny Omega, Kota Ibushi, and Chris Jericho
Additional matches have been added to next Sunday's AEW WrestleDream card.
Don Callis on Saturday’s Collision revealed that Will Ospreay will team with Konosuke Takeshita and his newest family member Sammy Guevara against Kenny Omega, Chris Jericho, and Kota Ibushi. This stems from events that took place on Friday’s Ramapge, where Omega made the save for Jericho after Guevara and Takeshita jumped Jericho.
In addition, Christian Cage will defend the TNT title in a two out of three falls match against Darby Allin. On Saturday’s Collision, Allin had a three-way title match won between himself, Cage, and Luchasaurus when Cage posted Allin, allowing himself to pin Luchasaurus. In a backstage interview, Tony Schiavone told Cage he would be defending the title at WrestleDream.
Eddie Kingston in a promo revealed that he will be putting up both the ROH and New Japan Strong titles against Katsuyori Shibata at WrestleDream, saying that he wanted a match that would honor Antonio Inoki.
WWE PPVs
Saturday, Oct. 7
WWE Fastlane
Indianapolis
WWE Crown Jewel 2023
November 4, 2023
Riyadh, Saudi Arabia
Saturday, Nov. 25
WWE Survivor Series
Chicago
WWE Survivor Series 2023
November 25, 2023
Rosemont, Illinois (Chicago) - Allstate Arena
Lachlan Murdoch inherits a daunting to-do list. Observers are divided over how he will cope = 23rd September 2023
First among equals is how media mogul Rupert Murdoch once described his eldest son Lachlan, when asked about the succession plan at his global media empire. Now with Rupert’s retirement this week from the boards of Fox Corporation and News Corporation, Lachlan’s position at the top of the family-controlled empire is cemented.
However, 52-year-old Lachlan inherits a daunting task. He takes control of the global newspaper and television businesses as both face major challenges. He becomes head of one of the most influential American media companies as the US goes into perhaps its most important presidential election in recent history. And, his every step will be measured against his father’s legacy.
Former News Corporation executive John Cowley has no doubt that Lachlan is up to the task. “He was trained by the best. His father would have rubbed off on him, but he’s also his own man. He will do a good job,” Cowley said.
Lachlan’s first real job in the Murdoch empire was working for Cowley. It was three decades ago, when at the age of 22, he joined Queensland Newspapers as its general manager. Fresh from having studied philosophy at Princeton University, the young Murdoch would walk the newsroom floor with his shirt sleeves rolled up – exposing a tribal tattoo on his left arm – discussing stories with journalists, much as his father had once done.
Over seven decades, Rupert Murdoch, 92, built a global media empire from a single Australian newspaper. As his business expanded so did his influence and he became one of the world’s most powerful, polarising and right-wing businessmen, owning outlets such as Fox News, the Wall Street Journal, The Times, and The Australian.
Rupert pitted Lachlan from an early age against two of his siblings, older sister Elisabeth and younger brother James, to take over the family empire.
Lachlan, Elisabeth and James would come and go from the family business, vying for their father’s affection and at times falling out with him. But it would be Lachlan who would return to the fold and stay.
The Murdoch family governs News Corporation and Fox Corporation through a family trust. Rupert has six children from three wives. The family trust owns almost 40 per cent of the voting shares in both companies.
Each of Murdoch’s children know how difficult it is being the progeny of a successful parent. Put simply, if the adult children of successful parents make good, it’s because of what their parents left them. If they don’t, people ask what’s wrong with them.
This is what Lachlan is up against, even in his middle age.
Billionaire James Packer can sympathise, as he spent most of the first half of his life being compared against his father – the late media tycoon Kerry Packer.
James multiplied the wealth he inherited from his father. But then his publicly listed Crown casino business became embroiled in a Chinese money-laundering scandal. It was fined, and he sold it, and since then, has focused on private investments.
“Lachlan will do very well. He’s following in a legend’s footsteps, one of the biggest, being Rupert, and that’s never easy,” says Packer, who has been friends with Lachlan for more than three decades. “But I think Lachlan’s ready, and he’s the right man for the job.”
Not everyone agrees.
Rod Tiffen is an emeritus professor at the University of Sydney, who has published books on the news media, including about Rupert Murdoch. He’s critical of Lachlan’s rise to the top of News Corporation and Fox Corporation.
“The idea that a position like that should go by heredity belongs more in the age of Jane Austen than of the contemporary corporate world,” Tiffen says. “It might be okay for the corner store to pass from father to son, but a global corporation should be based on some sort of merit, and not just having the same surname.”
Lachlan becomes chair of News Corporation, which owns newspaper and real estate assets, and also the chair and chief executive of Fox Corporation, which owns Fox News and Fox broadcasting.
In 2019, Fox sold its $US71.3 billion film and television business to Walt Disney, predicting the streaming war that is now playing out, and which has cost companies such as Disney, Netflix and Amazon billions. It was a clever move hailed as Rupert’s crowning achievement.
However, it has left Fox much smaller than many of its peers, with a focus on news and sport. The broadcast and cable TV outlets in the US are declining, and Fox is also competing against bigger players such as Amazon, Netflix, Comcast, Disney and Warner Brothers in securing sporting rights.
The embattled news arm was also sued after broadcasting conspiracy theories and claims of vote rigging promoted by Donald Trump in the 2020 election. Earlier this year, Fox settled a defamation lawsuit with Dominion Voting systems for $US787.5 million ($1.2 billion). It is now facing another lawsuit from a voting machine manufacturer, Smartmatic, which is likely to be at the top of Lachlan’s to-do list to resolve.
Another problem for Lachlan is that Donald Trump is shaping up as the most likely Republican candidate for the 2024 election, if he’s able to overcome the legal cases that he is facing.
However, it would be hard for Fox News to back him given Rupert has publicly criticised Trump and disowned him. And yet, much of the Fox News audience are Trump supporters. Fox News will risk alienating its audience more if Trump becomes the Republican candidate, and it doesn’t back him.
News Corporation has real estate assets such as REA Group and owns newspapers such as The Times, The Australian and the Wall Street Journal. The print assets are declining while the digital side of those newspapers has been growing, particularly the Dow Jones group in the US.
Matt Williams is head of Australian equities at Airlie Funds Management. It owns 2 per cent of the voting shares in News Corporation, which he argues remains undervalued. “Over the last ten years management have done a very good job with the Dow Jones business in re-aligning the business from being reliant on advertising to much more now a subscription-based business.”
He says Lachlan has been a good steward of News Corporation, and expects the strategy of that group to remain unchanged.
However, Tiffen expects there will be pressure to shut print newspapers when Rupert dies. “Everyone rightly goes on about what a terrific global media empire Rupert Murdoch has built. On the other hand, if you were writing his obituary now, you would say that he’s lost more money on newspapers than anyone else in history. And chances are that won’t continue after he dies.”
Tiffen expects that Lachlan will not make any significant changes to either Fox Corporation or News Corporation’s strategy while his father remains alive. “It’s much more likely that any changes will have to be after Rupert’s death, and then it’s quite unpredictable.”
The unpredictability is over whether Lachlan’s siblings who have voting rights in the trust – Prudence, Elisabeth and James – will be happy with his leadership of Fox Corporation and News Corporation, and the right-wing agendas they have pursued.
“In the short term, while Rupert’s alive, the other three children are going to be respectful,” says Tiffen. “But after he dies, then Lachlan’s relations with his other siblings will be much more difficult to predict.”
(SMH)
Rear Window - September 14, 1999
Kostya, TAB go down fighting
It had more celebrities than a Saturday night in Atlantic City. In one corner, "Break Even" Bill Mordey; in the other, Russian-born dynamo Kostya Tszyu and a gaggle of heavy-hitters including Packer confidant Theo Onisforou and Jeff Fenech.
Mordey won round one when NSW Supreme Court Justice Russell Bainton last year ordered Tszyu to pay $7.3 million to Mordey's Fightvision Pty Ltd for breach of contract, in the process describing the Russian-born boxer as a "spoiled brat".
Yesterday, round two ended with a TKO to Break Even, who managed to deliver a haymaker to TAB boss Warren Wilson. Having bought Sky Channel from Packer's Publishing & Broadcasting and Rupert Murdoch's News Corp last year, TAB will now have to partially foot a $7.3 million damages bill after three appeal judges found Sky Channel had induced Tszyu to breach his contract with Mordey.
Sky Channel will have to pay the costs of Fightvision's original claim against Sky Channel and its appeal in a result Wilson said was disappointing. TAB is considering whether it has any further legal avenues.
The stoush began when Tsyzu appealed against last year's decision, claiming the damages awarded against him were excessive. That prompted Mordey's counterpunch, appealing against the cases he lost to the other five defendants: Fenech, Sky Channel, Onisforou, Tszyu's new promoter, Vlad Warton, and Tszyu's company, Tszyu Enterprises.
The NSW Court of Appeal yesterday dismissed Tszyu's appeal. Mordey had a victory against Sky Channel, Warton and Tszyu Enterprises, but struck out against Onisforou and Fenech. Warton and Tszyu Enterprises will be back for a third round after the court ordered a new trial in relation to Mordey's claims.
Mordey and Fightvision had sought compensation from Tszyu for lost promotion revenue after the fighter breached his contract in early 1995 by agreeing to give Optus Vision or Sky Channel exclusive rights to broadcast his bouts.
In his judgement, Justice Bainton found Tszyu entered into a binding three-year contract with Mordey's Classic Promotions in 1992 and that contract contained an option of renewal for two years. The company wound up in 1993 and Fightvision took over its promotions.
Justice Bainton found that the renewal option in Tszyu's contract had been effectively exercised in January 1995, and that the boxer had broken that contract almost immediately.
Fightvision was entitled to recover from Tszyu profits it would have made from promoting his fights from January 1995 to January 1997 in total $7.3 million.
Room with a view? Er, I'll settle for the ground floor, thanks all the same
While travelling always presents its challenges, Rear Window's Tasmanian tourism operative appears to have struck an unusual problem while cycling through the Apple Isle.
During a bracing journey down the Midland Highway from Launceston to Hobart, our peleton wanabee sought refuge at a cosy bed and breakfast in the hamlet of Campbell Town, where the civic motto is: "Reaching out across the land, over the sea, through the air, towards the stars, Campbell Town is reaching out to you."
Noting the prominent "Vacancy" sign, our operative entered, only to be told by the landlady: "Sorry, we have no vacancies."
But what about the sign? "We haven't got around to making a `No Vacancy' sign yet. Getting the floors fixed comes a long way ahead of a `No Vacancy' sign in our priorities."
We'd advise getting a room on the ground floor.
Rupert shows UK interest but his ratings keep falling
Not content with wading into the murky world of Chinese-Tibetan relations, Rupert Murdoch has turned his hand to matters economic.
Murdoch has attacked the Bank of England in the wake of last week's surprise decision to lift British interest rates, expressing dismay that the central bank should be worried about the United Kingdom's 1.5 per cent economic growth when "the US economy is charging along at 4 per cent with no sign of inflation".
In an interview with London's Sunday Business newspaper, Murdoch also attacked UK Chancellor of the Exchequer Gordon Brown, claiming Brown was "wrong" to give the BoE the power to determine interest rate policy one of the central tenets of central bank indepence worldwide.
"We elect governments to govern, not to give up power to faceless bankers," Murdoch reportedly said, highlighting his growing schism with the government of Tony Blair, who only a few years ago attended News Corp's Hayman Island executive love-fest.
Just last week, Murdoch was kowtowing to the Chinese Government, claiming he had heard cynics say the Dalai Lama was "a very political old monk shuffling around in Gucci shoes" and questioning whether Tibet a "terrible old, autocratic society out of the Middle Ages" had any culture before China invaded.
It is all reminiscent of Murdoch's comments at News Corp's 1995 annual general meeting in Adelaide, where he blasted the Australian economy as "a disgrace" as he offered an opinion on all manner of non-media topics.
By 1997, a chastised Murdoch said son Lachlan had told him he was "not allowed" to talk about Australian politics. "I'm now under very strong instructions from my son to keep my mouth shut because I can go back to America and he has to live with what I have said," the elder Murdoch said.
The Sun King might be better off worrying about the performance of his News Corp empire, which recently suffered a hefty drop in profitability and has kicked off the latest United States television season in unspectacular fashion.
Ratings for News Corp's core Fox group are down an average 6 per cent, with not even the 10th series of its old standby, Beverly Hills 90210, improving the situation.
Guess who's late for dinner?
Here's hoping the 2000 Olympics are better organised than Rear Window, which battled the gremlins in yesterday's paper only to have an item about tomorrow night's glamour Australian Olympic Committee 1999 Countdown Dinner run about two weeks too late. Times have changed since the AOC first sought a plug for the function: the dinner is now sold out, with 1,000 people each paying $1,000 to raise a more than $700,000 for the Australian team. A number of team members will be there on the night, with dual gold medallist Kieren Perkins one of the 100 past and present Olympians who will each sit at the tables snapped up by companies including Telstra, CUB and Westfield. Major Olympic sponsor Westpac is holding its own function.
(AFR)
Sunday, September 24, 2023
Media Man International Blog: Casino News
Casino News
High Stakes: The ‘life-or-death’ battle over a company name
Two stars of Australia’s new economy – the similarly named share trading platform Stake and online cryptocurrency casino juggernaut stake.com – are locked in a life-or-death court battle over naming rights amid growing concerns the gambling outfit has major plans for its home country.
Stake the share platform launched legal action in the Federal Court in August seeking to enforce its trademarks and stop stake.com, a multibillion-dollar enterprise, from using that name for its business in Australia.
The fast-growing Sydney-based share trading platform, the third-largest broker in the country, alleges that the casino group stake.com has been breaking Australian consumer law and has misled consumers through the use of its brand in Australia and its marketing, including its sponsorship of the Alfa Romeo team and the sale of apparel.
Stake the share trading platform, which owns the URL stake.com.au, alleges stake.com’s use of the name in Australia has potentially led to consumers believing the two brands are related when they are not.
The share trading platform Stake, founded in 2017 by entrepreneurs Dan Silver and Matt Leibowitz, alleges there is a threat that more consumers could be misled if stake.com is allowed to continue with its plans to grow its business significantly in Australia under the brand name Stake.
The casino group, led by Melbourne-based twenty-somethings billionaires Ed Craven and Bijan Tehrani, is expected to seek to have the matter summarily dismissed.
A spokesperson for stake.com said: “We are aware of a frivolous claim lodged in the Federal Court by Stakeshop, which in part claims that our global Formula One team sponsorship impinges on their ability to sell trucker hats.”
“We are proud of the global stake.com brand. As a group, we abide by the laws of the countries in which we operate, and do not offer our stake.com platform to Australian customers. We believe the claim has no legal merit and will vigorously defend our rights.”
The court case has shed new light on stake.com’s expansion plans for Australia, where it remains blocked to Australian users.
Court documents reveal the casino group has sought to buy the stake.com.au website from the sharemarket trading platform business. According to the court documents, the casino group has also registered several Australian website domains for its Australian expansion and applied to register a slew of trademarks including Stake Australia, Stake Bet and Stake Casino.
The Federal Court action comes after years of simmering tensions between the two groups over the use of stake.com’s name in Australia.
Stake.com was established in 2017 but flew under the radar in Australia until late 2021, when this masthead revealed the local origins of the business that had grown to be one of world’s largest online casinos, processing hundreds of billions of bets on sports, virtual table games and online slot machines.
In early 2022, stake.com signed hip-hop megastar Drake as its lead ambassador. Later in 2022 it signed a multi-year deal to become lead jersey sponsor for English Premier League team Everton FC as well as its sponsorship of Alfa Romeo’s F1 team.
The significant increase in stake.com’s marketing and media presence was noticed at the share trading platform group that built its user base during the COVID-inspired boom in Gen Y and Gen Z investors, thanks in part to its ultra-low cost brokerage fee model, savvy marketing and the broadening into other financial services including a superannuation product.
A spokesman for Stake the share trading platform said that since the group was founded in Australia it had built a client base of more than 500,000 and more than $2.5 billion in assets under management.
“Over the past six years, we have established a trusted and culturally relevant Australian brand that reflects our dedication to meeting customer needs. It permeates all parts of our business, spanning products, content, internal culture, customer interactions and much more, making it our most valuable asset. We are committed to protecting the Stake brand and the high level of consumer trust associated with it,” the spokesman said.
“We are concerned by the threatened use of the Stake brand in Australia by stake.com in relation to gambling, casino and sports betting services, due to the potential for customer confusion and damage to our brand and reputation.”
Stake.com is not available in Australia but according to court documents, the group is already making arrangements for a major expansion in this country and is seeking a sports betting licence.
In October 2022, stake.com casino executive Brais Pena Sanchez contacted Stake share trading founder Silver on LinkedIn and arranged a video conference meeting where the pair discussed Stake the share platform selling its Australian URL, stake.com.au, to the Curacao-registered, Australian-operated casino group.
During those discussions, Sanchez – the casino group’s chief strategy officer – informed Silver that stake.com planned to launch in Australia under the name Stakebet, or similar, according to court documents. A deal never ensued and the website remains owned by the share trading platform.
Tensions flared again in early 2023 after stake.com the casino was announced as the new team sponsor for Formula 1 team Alfa Romeo, sparking a flurry of legal letters between the two groups ahead of the Melbourne race.
According to the court documents, the casino group’s lawyers assured the share trading Stake that it would not use its logo in conjunction with the Melbourne Grand Prix and did not intend to display the name on any vehicles or uniforms or as part of the Alfa Romeo team name.
However, the share trading Stake alleges that during the four days of the Grand Prix, Stake casino logos appeared on banners for official team merchandise, the team display and on signs at the event and in the race program.
In May, Stake.com was applying to register a large number of new trademarks for goods and services. This included Stake Australia, Stake Bookie, Stake Betting, Stake Gaming, Stake Esports, Stake Casino, Stake Sportsbook, Stake Bet, Stake Punt, Stake Sports, Stake Pokes and Stake Slots.
The casino group has also registered a series of Australian website names under the “.au” domain including stakebet.au; stakecasino.au, stakesports.au and playstake.au.
The case continues.
Crown to launch digital self-exclusion scheme for casinos - July 2023
People with gambling problems will be able to ban themselves from Crown casinos over the internet instead of having to do so in person, as part of a wider overhaul of the group’s approach to harm minimisation.
Crown Resorts’ new safer gambling program also includes the establishment of a dedicated gambling policy team, which will monitor customer playing behaviour and create interventions to better prevent gambling harm from occurring.
Crown boss Ciaran Carruthers joined the business last year following an overhaul of Crown’s management, after a series of bruising inquiries into the company. Carruthers, who has led other global casino groups including Wynn Macau, said the new leadership of Crown was committed to making gambling safer, even if it meant less turnover in its casinos.
“I have been in this business for 34 years and I can tell you – no one does this,” Carruthers said.
“It is critically important to me that when I look at the long-term viability of this business that people see our resorts as entertainment to enjoy safely.”
Under the changes, customers will be able to block themselves from entering a Crown casino through a new digital self-exclusion portal. Those who wanted to ban themselves from Crown venues were previously required to visit, in person, a designated responsible gambling centre run by the group.
The group has also moved to cashless gaming at Crown Melbourne and Crown Sydney – a condition of its temporary gaming licences in NSW and Victoria– as well as introducing $10 maximum bet limits on poker machines at Crown Perth. The technological overhaul required to facilitate the changes has so far cost the business $13 million.
Carruthers pointed to changes Crown has already made which go beyond government regulation, such as encouraging customers to take breaks every three hours, as an indicator of its commitment to shifting problem gambling patterns.
The group said it wanted to establish advisory panels to work with state regulators and community groups to improve gambling harm education and share its research.
Carruthers conceded some aspects of its new approach to harm minimisation, called Crown PlaySafe, would not be welcomed by heavy gamblers. But he argued the changes would make the casinos more appealing to the general public.
Crown’s new head of gambling policy research, Dr Jamie Wiebe, said the most critical shift in the groups gambling policy was a move away from harm minimisation to prevention.
“We want to prevent a problem from ever happening,” she said.
The new program was unveiled just weeks after the Federal Court determined Crown will pay one of the biggest penalties in Australian corporate history to the financial crimes watchdog, after past anti-money laundering and counter-terrorism failings in its Perth and Melbourne casinos.
The $450 million fine is about five per cent of Crown’s last listed market capitalisation before it was taken private by Blackstone Capital for $8.9 billion in May last year.
In 2019, an investigation by this masthead and 60 Minutes revealed Crown had been infiltrated by international criminal syndicates and money launderers.
Crown was forced to overhaul its board, management and procedures to satisfy the regulators, who approved a conditional licence for Crown to operate its Barangaroo casino in June 2022. The conditional licence is valid until the end of this year.
Carruthers said the integrated hospitality offerings at Crown meant the casino could afford to embrace the shift.
“I want people to enjoy the experience of our casinos whether they’re coming for dining, casino or retail. I’m fairly agnostic across which one of those experience or how many of those experiences you want to enjoy,” he said.
Reclusive Sydney gambling mogul emerges as kingmaker in South Africa - September 2023
Reclusive online gambling mogul Martin Moshal is playing an increasingly influential role in a push to oust the South African government.
Mr Moshal, who lives on the exclusive Sydney Harbour row of Camp Cove alongside shopping centre billionaire Steven Lowy, is not on many rich lists but has made a fortune from online casino technology.
Herman Mashaba is the leader of ActionSA, one of a handful of opposition parties Mr Moshal has backed in the lead up to the 2024 South African national election. Mr Mashaba, known for taking a tough line on immigration and endorsing hard labour for prisoners, is hoping the gambling tycoon will continue his support.
“I wish he won’t give up on us and help us democratically remove the [incumbent African National Congress] and bring about a peaceful transition... please help ActionSA,” Mr Mashaba said in an interview with The Australian Financial Review.
“I have been lucky to have known Martin long before I went into politics,” he added. “I approached him and he was willing to back me up because he knows me as a capitalist... Martin was one of the first to come to the party.”
President Cyril Ramaphosa’s social democratic African National Congress party is set to come under pressure next year amid South Africa’s dire economic troubles. A senior party official has warned the country could become a failed state.
Mr Moshal is the largest individual political donor in South Africa in the last two years. He has given 46.5 million rand ($3.8 million), according to electoral records analysed by My Vote Counts, a non-profit advocating for more transparency in politics.
“Given the amounts donated it has become clear to us he now has a large stake in our politics,” said Robyn Pasensie, a researcher at the organisation.
The size of Mr Moshal’s wealth is unknown. He is extremely private and only admitted to his ownership of online gambling giant Betway after UK journalists traced his ownership back to offshore trusts. Mr Moshal did not respond to a request for comment.
Aside from ActionSA, Mr Moshal has donated to the Democratic Alliance (DA), Build One South Africa and said he also intends to support the Inkatha Freedom Party. Mr Moshal is ActionSA’s biggest backer. The Australian Financial Review is not suggesting Mr Moshal supports the party’s policies.
“I’m not saying these parties are all perfect, but we shouldn’t let perfect be the enemy of good... They are all far better than the government we have today,” Mr Moshal told The Jewish Report earlier this year.
“Pirkei Avot was my late dad – John Moshal’s – favourite part of the Talmud within which Rabbi Tarfon is quoted as saying, ‘It’s not up to you to finish the task, but you aren’t free to avoid it’.”
Mr Moshal said he believed South Africa needed a new government and was on its way to becoming a failed state.
“[This is a] government that’s corrupt, cannot provide basic security and opportunity to its citizens... we need the change of government and leadership that these parties can provide.”
ActionSA is known for advocating for life sentences and hard labour for serious offenders and also wants to repeal the ANC’s Broad-based Black Economic Empowerment (B-BBEE) policy, a form of affirmative action introduced post-apartheid.
“Martin knows my views on racial policies and how dangerous they are,” said Mr Mashaba, who started off in business and was the founder of African hair care brand, Black Like Me.
ActionSA has also been vocal on immigration, views labelled as “xenophobic” by some critics and politicians.
“We recognise that South Africa was built... on the back of migrants,” said Mr Mashaba. “But they must come here legally... you break our laws, we will send you back to your country, the country where you came from.”
One of South Africa’s main economic problems is mismanagement and corruption inside the country’s electricity utility Eskom. The utility has been forced to implement rolling blackouts, which have further stymied economic growth.
“If Eskom cannot run on a commercial basis then it must die a natural death,” Mr Mashaba said, adding changes were needed to give other companies the opportunity to compete.
Mr Moshal’s Entrée Capital is one of Israel’s most active funds in the Israeli VC space. He is the beneficiary of a trust which is the largest individual shareholder in Super Group, which became the parent of Betway and online casino brand Spin after a 2022 listing. The group reported net gaming revenue of €1.3 billion ($2.1 billion) in 2022.
“Moshal is one of the least visible betting entrepreneurs in the world,” Guardian reporter Rob Davis wrote in his book Jackpot: How Gambling Conquered Britain.
“Moshal made much of his fortune from his home in Durban where he patented a series of technological solutions for the online gambling world and developed them via his company Microgaming. The company has since become one of the industry’s leading software players”
A philanthropist, he sits on the capital management advisory committee of Sydney’s Moriah College, alongside Steven Lowy and former Babcock & Brown chief executive Phil Green. He is also a life trustee of the Moriah Foundation and previously donated to Israel’s SpaceIL project attempting to land spacecraft on the moon.
SkyCity puts aside $45m for potential AUSTRAC penalty - August 2023
SkyCity Entertainment set aside $45 million for a penalty if it is convicted of breaches of anti-money laundering and counterterrorism laws.
The financial crimes watchdog, AUSTRAC, lodged proceedings against SkyCity in December over alleged serious and systemic non-compliance with the laws at its Adelaide casino.
SkyCity said on Monday it was difficult to determine the size and timing of the penalty, given the proceedings are in the early stages. But it decided to lodge a $45 million provision on the basis that each breach attracts a maximum civil penalty of between $18 million and $22.2 million.
“Estimating the potential exposure to penalties with any degree of accuracy at this stage of that ongoing process remains challenging, particularly given the outcome is highly dependent on a range of factors which are not yet known,” a statement said.
AUSTRAC has alleged “serious noncompliance” with anti-money laundering laws against SkyCity, claiming the company allowed 59 suspicious patrons to churn more than $4 billion in dirty cash through its Adelaide casino. The independent review is on hold because of the Federal Court action.
The company cut full-year earnings expectations at an investor day in May, with a slowdown in revenue from the international business and rising legal and compliance costs related to a crackdown on money laundering weighing on its bottom line. Analysts have provisioned about $50 million for the AUSTRAC fine, but there is no guarantee that will be enough.
In late May, SkyCity announced it would hire an independent expert to review its anti-money laundering and counter-terrorism programs. It is still waiting for South Australia’s investigation into whether it should hold a casino licence to recommence.
“Judgements in civil penalty proceedings bought by AUSTRAC to date demonstrate that the Court’s determination of the appropriate penalty ... is very specific to the fact in each case and that the Court will have regard to a broad range of factors,” SkyCity said.
SkyCity’s provision announcement coincided with a $45.6 million write-down of the Adelaide casino licence, which was attributed to the value and timing of future discounted cash flows.
The company said the impairment and provision were non-cash and would not affect earnings for fiscal year 2023. Earnings before interest, tax, depreciation and amortisation remain in line with guidance of $NZ300 million ($276.6 million) to $NZ310 million.
SkyCity’s provision comes a month after the federal court agreed on rival casino operator Crown’s $450 million fine for breaches of anti-money laundering and counter-terrorism laws. The fine is being paid over a two-year period without interest.
Shares closed on Friday at $2.09.
Hotel room rates plummet for F1 Las Vegas Grand Prix weekend - September 2023
Hotel room rates for Las Vegas Grand Prix weekend have fallen by nearly 60 percent in some cases since they were first posted last fall. But an industry expert says that does not necessarily mean interest in the event is failing to meet expectation.
When select Las Vegas resorts in November 2022 opened their booking schedules for race weekend, listed prices were as high as they have been seen in the city’s history. While still at higher than normal rates, a major decrease has occurred.
When a drop in booking pace occurs, it automatically triggers revenue management systems to suggest the lowering of room rates, according to Dr. Mehmet Erdem, professor of hotel operations and technology at UNLV’s William F. Harrah College of Hospitality.
Pennsylvania online casinos cross $5 billion in lifetime revenue - September 2023
Business is booming in Pennsylvania. The Keystone State is the clear market leader when it comes to online casino revenue within the US. After August’s total of $171.9 million, Pennsylvania surpassed the $5 billion threshold for lifetime revenue.
Pennsylvania online casinos are constantly upgrading and adding new content, and customers are responding. It doesn’t appear the market will be slowing down anytime soon, either.
Pennsylvania has set the US online casino revenue record four times over the last 11 months, and almost did so again. August’s revenue total of $171.9 million came second to March’s figure of $181.5 million. It was the second-best month of all time for any state with legal online casinos.
Atlantic City: Five-year turnaround of Ocean Casino Resort among city’s greatest successes - September 2023
In the winter of 2019, if any New Jersey sportsbook had tried to offer odds on the Atlantic City casino hotel then known as Ocean Resort Casino making it through another summer, no gambler in their right mind would have taken the bet.
Fast forward to the end of summer 2023, and the property now called Ocean Casino Resort is one of the city’s best performers. In fact, an argument can be made that Ocean’s rise to the upper echelon of the Atlantic City casino market is the most remarkable turnaround of any gambling parlor in history.
From its failed origins as Revel Casino Hotel to its seemingly doomed trajectory in February 2019, the $2.4 billion casino at the north end of the AC Boardwalk felt almost cursed (if you believe in that kind of stuff). But, apparently, the gambling gods decided Ocean was deserving of a better fate.
Once shunned by casino operators, responsible gaming campaign turns 25
At a time when problem gambling matters were rarely mentioned in gaming company boardrooms, Harrah’s Entertainment decided the issue needed to be raised on casino floors.
But it wasn’t just rival corporate executives that looked askance at the idea of employees learning how to spot signs that a customer might have a gambling problem.
“Our own lawyers tried to block it,” recalled Jan Jones Blackhurst, who was then a Harrah’s senior vice president. With the support of company CEO Phil Satre, she led Harrah’s launch of the casino industry’s first responsible gaming initiative in the mid-1990s.
“We had employees that wanted to be educated on the subject. They wanted to be able to help,” said Jones Blackhurst, who completed two terms as Las Vegas mayor before joining Harrah’s. “Maybe because I came out of politics. You have a responsibility to your communities, your customers and your employees. We believed it was the right thing to do.”
Sportsbooks ratchet up targeted advertising at start of NFL season
Shortly after the NFL forged authorized gaming partnerships with a host of leading sportsbooks in the 2021 offseason, operators began flooding the airwaves with a series of humorous spots that featured celebrities hawking their products.
Caesars Sportsbook spent lavishly on an ad package starring the Manning Brothers and actor J.B. Smoove as the eponymous emperor. During Super Bowl LVII last February, Kevin Hart expressed his displeasure for “taking the under” in a DraftKings spot while standing mere feet from WWE wrestler The Undertaker. Another commercial from FanDuel featured a live field goal attempt by former New England Patriots tight end Rob Gronkowski, one that drifted wide left of the upright at the last second.
Former lieutenant governor calls for Nevada Gaming Commission cyber briefing after MGM and Caesars hacks - September 2023
In light of cyberattacks on MGM Resorts International and Caesars Entertainment, former Nevada Lt. Gov. Brian Krolicki, now a Nevada Gaming Commission member, called for a briefing on the hacking incident to shed more light on what happened and how it can be prevented in the future.
The suggestion comes the same day the Massachusetts Gaming Commission met in executive session “to consider information related to an MGM cybersecurity issue.” It held a similar closed meeting on Monday.
After it returned to the public session on Thursday, the Commission entered into an executive session regarding security at MGM Springfield, according to the Commission agenda.
Krolicki made his comments at the end of Thursday’s five-hour meeting of the Nevada Gaming Commission. Since it was made during the public comment session, the commission could not take up the matter, but it’s likely the issue will return to the Commission and the Nevada Gaming Control Board at some point.
In the latest cyberattack that started being felt Sept. 10 and went into this week, hackers knocked slot machines out of commission and created havoc with ATMs and computer systems. MGM, which is reported by a Wall Street analyst to have lost between $4.2 million and $8.4 million a day with the hack, said its systems were operating normally across their properties nationwide as of Wednesday. Caesars reported it was hacked in late August and had customer information stolen but paid a $15 million ransom that avoided any shutdowns.
In December, the Commission approved cybersecurity regulations for the state’s gaming industry to protect operators’ information systems from attacks that could shutter casinos and compromise customer data. The rules went into effect Jan. 1. That approval came right after BetMGM reported that its customers’ personal information – including Social Security numbers – was obtained in an unauthorized manner and included information on their transactions.
In the regulations, casinos were required to do a risk assessment of their systems by the end of 2023 and take any necessary steps on an ongoing basis to ward off an attack. If any breach was successful that compromised player data, credit card information and other records, including that of employees, properties would be required to report it to gaming regulators within 72 hours.
“It would be important and enlightening given the recent events of the past week regarding cyber security and ransomware in particular at MGM and our friends at Caesars and look at how it impacts our world and regulatory responsibilities,” Krolicki said, later adding, “I think at some point in time when there’s the energy and understanding of what just happened if we could get some kind of briefing of what transpired that’s appropriate for public record and perhaps policies going forward of how do we avoid these things and if they do happen whether the reporting schemes on whether it was immediately reported to the Gaming Control Board. There are a lot of questions and a lot of publicity. It’s a global story, and I just think it would behoove all of us to get a good handle on what just happened.”
The Nevada Gaming Control Board released a statement on Sept. 13 saying Gov. Joe Lombardo and the board “are monitoring the cybersecurity incident with MGM Resorts and are in communication with company executives. Additionally, the Nevada Gaming Control Board remains in communication with other law enforcement agencies.”
Casino consultant Brendan Bussmann, managing partner of B Global, which tracks gaming boards and commissions, said the Massachusetts hearing won’t be the last and expects states across the country to hold similar sessions wanting to hear from MGM executives.
“Nevada is the second regulator that I know has raised their hand on this after Massachusetts,” Bussmann said. “It should be about what happened and how it happened, which should be considered confidential information. This is going to be a question that every regulator for both commercial gaming and tribal gaming is going to be concerned about. Since we’re still trying to figure out what happened, then we can see what tools we need as an industry to beef up our efforts on cyber-related events.”
While everyone is focused today on MGM and Caesars, this is not the first cyber attack, Bussmann said.
“This can go back to the Las Vegas Sands attacks in 2014 from the Iranians and any other data breaches that happened between then and now,” Bussmann said. “I would expect every state at a minimum has MGM and Caesars in it to at least say what happened and what can we do regulatory to help this and what can we do with testing and what can we do IT and host of things.”
Bussmann said the regulators can’t be reactionary but instead should get evidence on how it happened and use the best resources outside of the casino industry, such as security firms, to do it right.
“There’s no one better suited to regulate Nevada on this issue than the Gaming Control Board in working with law enforcement partners across the country,” Bussmann said.
Saturday, September 23, 2023
Friday, September 22, 2023
Media Man International Blog: News, Pop Culture, Sports News
Media Man International Blog
MMA / UFC @UFC News
Nevada State Athletic Commision planning to take action following controversial 10-8 scorecard in Alexa Grasso vs Valentina Shevchenko bout, part of 'Noche'
Headlining the event was a flyweight title fight between current champion Alexa Grasso (16-3 MMA) and Valentina Shevchenko (23-4 MMA). The somewhat controversial ruling at the outcome of the bout was a split draw!
Some insiders and hardcore fans pointed the finger at Mike Bell who ultimately was unable to find a winner, thereby causing the draw.
The result of the high profile match has attracted heat and a critcal eye from fighters and fans alike.
The NSAC (Nevada State Athletic Commission), in the aftermatch of the decision, is going to hold a refresher session for licensed judges.
It was well known sports reporter Ariel Helwani who broke the news on ‘X‘ @X (formally Twitter) with:
“Nevada State Athletic Commission will be holding a special 10-8 training session for all licensed judges on Wednesday, I’m told. Of course, this is in light of Saturday’s scorecard controversy.”
While the NSAC has not issued a public statement concerning the controversial scorecard, it appears that they are taking the 10-8 criteria seriously.
The 10-8 criteria written into the Unified Rules of MMA, can be seen below:
“A score of 10-8 does not require a fighter to dominate their opponent for 5 minutes of a round. The score of 10-8 is utilized by the judge when the judge sees verifiable actions on the part of either fighter. Judges shall ALWAYS give a score of 10-8 when the judge has established that one fighter has dominated the action of the round, had duration of the domination and also impacted their opponent with either effective strikes or effective grappling maneuvers that have diminished the abilities of their opponent.”
“Judges must CONSIDER giving the score of 10–8 when a fighter shows dominance in the round even though no impactful scoring against the opponent was achieved. MMA is an offensive based sport. No scoring is given for defensive maneuvers. Using smart, tactically sound defensive maneuvers allows the fighter to stay in the fight and to be competitive. Dominance of a round can be seen in striking when the losing fighter continually attempts to defend, with no counters or reaction taken when openings present themselves. Dominance in the grappling phase can be seen by fighters taking DOMINANT POSITIONS in the fight and utilizing those positions to attempt fight ending submissions or attacks. If a fighter has little to no offensive output during a 5 minute round, it should be normal for the judge to consider awarding the losing fighter 8 points instead of 9.”
“Judges must CONSIDER giving the score of 10–8 when a fighter IMPACTS their opponent significantly in a round even though they do not dominate the action. Effectiveness in striking or grappling which leads to a diminishing of a fighter’s energy, confidence, abilities and spirit. All of these come as a direct result of negative impact. When a fighter is hurt with strikes, showing a lack of control or ability, these can be defining moments in the fight. If a judge sees that a fighter has been significantly damaged in the round the judge should CONSIDER the score of 10–8.”
X remains one of the most popular social media platforms across the globe for the combat sports and pop culture sector, with many in and around mixed martial arts and pro wrestling making X they're first port of call due to its "non woke" and pro freedom of speech approch. Numerous other social media platforms have unfairly applied censorship over the combat sports sector, as well as targeting the health and well-being, medical and political news arenas. X won over the industry for social media news.
Now, the combat sports world awaits the update from the NSAC probe! Gonzo: Not So Accussing Clutz! Word Life/World Play as per wrestling legend John Cena, who is signed to the WWE, part of TKO, as is the UFC officially, as of last week. History was made in, around and outside of the Octagon, even up to the New York Stock Exchange. Will history repeat? They used to say "That's Boxing", now its a bit like, "That's MMA when there's a home turf advantage". Part satire and part gonzo, part authentic. Up to interpretation - the art of the deal! May the best man/woman win.
#UFCNoche #NocheUFC #UFC #ufcwomen #Grasso #Shevchenko #MMA #combatsports #fighting #wrestling #NSAC #femmes #sportsnews #sportsbiz #entertainment #entertainmentnews #PPV #payperview #biz #trend #trends #buzz #media
"It is fascinating (WWE-UFC merger). It will be interesting to see what happens in the world of sports, combat sports, and pro wrestling. I love pro wrestling, it’s an amazing business. I think there are a lot of really exciting things happening with sports media rights" - Tony Khan, All Elite Wrestling @AEW #TonyKhan #quote #AEW #AllEliteWrestling #wrestling #prowrestling #sports #combatsports #sportsmedia #mediarights #broadcast #broadcasting #sportsbiz #sportsnews #sportsmedia #mediabiz #media
Pro Wrestling
“Well, Jade had a great match on Friday night on AEW Rampage and it was a great match against Kris Statlander. Kris Statlander retained the TBS Championship on Rampage on Friday night and I thought that was a great match. Definitely one of the best matches I’ve seen either of them have. And I thought a really great main event for the show.”
“As far as Jade goes, I can’t really comment on that except to say that Jade’s been a great wrestler for AEW and certainly [is] always welcome in AEW. You know, could always be somebody we would always love to work with here in AEW.” - Tony Khan, All Elite Wrestling @AEW
#TonyKhan #quote #AEW #AllEliteWrestling #JadeCargill #wrestling #prowrestling #KrisStatlander #TBS #TBSChampionship #dreammatch #dreammatches #mainevent #promoter #wrestlingpromoter #combatsports #sportsbiz #sportsnews #entertainment #entertainmentnews #popculture #biz #media
Search Engine Land
SEL's Nicola on Google quietly rising prices. Yes we noticed. What can happen is customers get hooked and get in too deep to get out. Google are not the first, nor will they be the last to move into this grey and murky territory. Over a decade ago we were helping out folks whose Facebook ad campaigns got out of control and what a headache that was. Back then Facebook has more real people working in the online advertising department also. It's called big tech for a reason folks. Enter The Matrix at own risk folks. Once bitten, twice shy. Three times not a charm. Aw well, once can always cancel, but good luck with that. Google it!
Search Engine Land
SEL's Amy on the virtual casino er I mean Google online ad based mouse trap. Yes, much like a casino, the house (almost) always wins (unless the punters er customers go elsewhere). We enjoy a love -hate relationship with Alphabet's Google. I fine most times they provide quality..Their Algorithm loves our network and projects so we love them back..99 percent of the time organic results beat paid we find and also a good spread of evergreen content works a charm, especially in and around pop culture, combat sports and the like. Knowledge is power. Don't be manipulated! Or, if you are, at least you realize something isn't quite right. The battle between Man/human vs machine continues..Humans for the win!
JohnWallStreet
Hypersonic Air Travel..
Sounds sexy but it can also be a practical solution for those who work in and around the pro sports and live sports and entertainment sector. You can't be everywhere at once - not even with a holographic, so here's the next best thing - at a price. Next to perfect perhaps for high level UFC, WWE, PFL and NFL executives and players. Must fly quick..off to Dubai again via Sydney..No time to waste says Sydney media owner. UAE fast and even faster,.as the crow flys..Fast. Faster. Fastest as per sports documentaries and beyond the sound of speed..Hyper pumped sports biz media.
SEJ Google Off The Record podcast September 2023
SEJ's Matt with findings analysis as per Google Search 'Off The Record' with John Mueller and Gary Illyes. Takeaways include keep adding quality content to websites, remove poor quality,. follow Google guidelines/policy, don't do anything not ethical, be the authority, expert.and go-to in your field, stay up-to-date with trends and developments and connect with the audience while having consisting of content matching with business purposes. "Everything that gets less than 7 clicks" - change/improve or remove. "No gibberish" - ie "like if a cat ran over the keyboard". "People are looking for these sites anyway, regardless of what we are doing" "You see a blog post about SEO and then that blog post in linking to search engine.. that is a good hint that X dotcom may be imporant". "Can be really helpful about.. getting index.. people are linking to these sites". "We don't disclose what individual content". "Don't duplicate"
"If you have actually reviewed, like the potato peeler, that's helpful"
"Potato Pellets dotcom. Why would we index that?"
"We review translation and we see things"! "You can always improve the site and get out of the crawling jail" "If you have a site like X, it's very hard to figure out what are the pages that are lower quality". Now setting aside time to listen to the entire podcast. Update: now on second listening to help make sure it sinks in. Media, no cat mess here folks!. Thanks SEJ and Google
Search Engine Journal - Google's Search "Off The Record" podcast
SEJ's Matt with findings analysis as per Google Search 'Off The Record' with John Mueller and Gary Illyes. Takeaways include keep adding quality content to websites, remove poor quality, follow Google guidelines/policy, don't do anything not ethical, be the authority, expert, and go-to in your field, stay up-to-date with trends and developments and connect with the audience while having consistency of content matching with biz purposes. "Everything that gets less than 7 clicks" - change/improve or remove. "No gibberish" - ie "like if a cat ran over the keyboard". "People are looking for these sites anyway, regardless of what we are doing" "You see a blog post about SEO and then that blog post in linking to search engine.. that is a good hint that X dotcom may be imporant". "Can be really helpful about.. getting index.. people are linking to these sites". "We don't disclose what individual content". "Don't duplicate""If you have actually reviewed, like the potato peeler, that's helpful". "Potato Pellets dotcom. Why would we index that?"
"We review translation and we see things"! "You can always improve the site and get out of the crawling jail" "If you have a site like X, it's very hard to figure out what are the pages that are lower quality". Now setting aside time to listen to the entire podcast. Update: now on second listening to help make sure it sinks in. Media, no cat mess here folks!
SEL Twitter X September 2023
SEL's Nicola on Meta's Verified. No prizes for where they got that idea from hey! Old quote: "There's hardly an original idea left in the world". Now published on X @X (formally Twitter). Social media friendly wars continue. All good fodder for those who work in and around the sector. Got to fill up those webpages and social media channels with something. X marks the spot for instant news #SEL #meta #metaverified #verified
Search Engine and Website News and Tips
Google Search @googlesearchc 'Off The Record' with John Mueller and Gary Illyes
Takeaways include keep adding quality content to websites, remove poor quality, follow Google @google guidelines/policy, don't do anything not ethical, be the authority, expert, and go-to in your field, stay up-to-date with trends and developments and connect with the audience while having consistency of content matching with biz purposes.
"Everything that gets less than 7 clicks" - change/improve or remove.
"No gibberish" - ie "like if a cat ran over the keyboard". "People are looking for these sites anyway, regardless of what we are doing"
"You see a blog post about SEO and then that blog post in linking to search engine.. that is a good hint that X dotcom may be imporant".
"Can be really helpful about.. getting index.. people are linking to these sites".
"We don't disclose what individual content".
"Don't duplicate"
"If you have actually reviewed, like the potato peeler, that's helpful". "Potato Peeler dotcom. Why would we index that?"
"We review translation and we see things"!
"You can always improve the site and get out of the crawling jail"
"If you have a site like X, it's very hard to figure out what are the pages that are lower quality"
#googlesearch #googlesearchoftherecord #OfftheRecord #searchengine #seotips #googlepodcast #podcastofthemonth #searchpodcast #seo #sem #searchenginemarketing #content #contenttips #contentnews #websites #index #crawl #crawler #inded #indexed #webdev #quality #reviews #performance #results #onlinemarketing #onlinenews #technews #webbiz #media
Combat Sports / UFC @UFC News
Former UFC Middleweight Champion Israel "The Last Stylebender" Adesanya quotes via YouTube
“That just felt like a bad dream”. “Feeling it, and seeing it are completely different. I called Eugene [Bareman] right afterwards and we talked, same thing, we’re quietly confident. [The fight was] surprisingly fast. I didn’t even know it was the last round, I was like ‘This is the last round? *uck’. I was like okay, vamanos, I needed to do something.”
“It was just the way I felt in the fight, it wasn’t, eh. It was eh. It was also the way he worked. He never let me get into my rhythm at all… Just wasn’t able to get my rhythm because of his pressure, he was right there constantly. Whenever I was setting him up, because he’s right there, his coach would help him and I’d just be like ‘*uck’.”
“It was just a good gameplan from their end. For me, I wasn’t able to adjust on the fly.”
“The belt’s never mattered to me. I mean, it does obviously, but how many times have I said it’s just a fancy tiara that brings more money and this and that, rah, rah, rah".
“One of those where you, not even a nightmare. A nightmare is like, ‘Oh *hit. *uck.’ A nightmare, you’re scared. I was just like, you try to hit the guy, and it just felt like noodle arms. Like, ‘What the *uck.’ It just felt like a bad dream. Feeling it and watching it were completely different. I called Eugene (Bareman) right after and we talked and the same thing. We’re quietly confident.”
Video
Israel Adesanya Breaks His Silence After Loss To Sean Strickland at UFC 293
https://www.youtube.com/watch?v=e4TauRH1t1I&ab_channel=FREESTYLEBENDER
#UFC293 #UFC #IsraelAdesanya #SeanStrickland #quotes #MMA #mixedmartialarts #combatsports #sportsnews #legend #legends #youtube #popculture #media
Pro Wrestling
AEW @AEW Dynamite. Grand Slam
TITLE vs TITLE!
ROH @ringofhonor World Champion Castagnoli @ClaudioCSRO vs NJPW Strong Champ Kingston! | 9/20/23, AEW Dynamite
Video
https://www.youtube.com/watch?v=FmqKFo0qRic&ab_channel=AllEliteWrestling
#AEWDYNAMITEGRANDSLAM #AEWGrandSlam #AEW #AllEliteWrestling #ROH #RingOfHonor #wrestling #prowrestling #combatsports #sportsbiz #sportsnews #entertainment #popculture #streaming #broadcast #broadcasting #media
Pro Wrestling Dream Match in All Elite Wrestling @AEW
Chris Jericho @IAmJericho vs Sammy Guevara @sammyguevara !
9/20/23, AEW Dynamite. Grand Slam
"Both of these men have gone through a lot in a short time" Tony Schiavone @tonyschiavone24
"This have been a back and forth affair for sure.. that's dangerous.. anything could happen here" Taz @OfficialTAZ
"And he's got a plan, whatever the hell it is" Taz
"Sammy just rag-dolled, and Jericho scoring the win"
"The biggest rat in New York City has just wanted into the ring"
Video via AEW YouTube Channel
https://www.youtube.com/AEW
https://www.youtube.com/watch?v=T04SlLP2MFs&ab_channel=AllEliteWrestling
#AEWDYNAMITEGRANDSLAM #AEWGrandSlam #AEW #ChrisJericho #SammyGuevara #Jericho #Guevara #dreammatch #wrestling #prowrestling #sportsbiz #entertainment #popculture #video #broadcast #broadcasting #trend #trending #buzz #media
Media Man websites updated
Media Man Int and Media Man (Australia)
@mediamanoz
. Part of the Media Man Group.
Algorithms, Alphabet and Alternative
Blogs and Brand News
Content, Combat Sports and Creative
Digital Content, Docos and Disruptor
Experience, Evergreen & Entertainment
Fact from Fiction and Facebook
Google News and Gonzo Journalism
Hits and History
Intuition and Instagram
Japanese Pro Wrestling
KO
Likes, Links, Lifestyle and LinkedIn
Movers N Shakers, Meta and MMA
Numbers, Network and NFT News
Online News and Online Advertising
Pop Culture, Pro Wrestling PPVs
Q Woke Airlines
Recommendations via LinkedIn
Systems, Suplex, Satire and SEO
TKO, Truth and Text Links
Universe and UFC
Virtual Worlds, Video and Virual
Wrestling
X (formally Twitter)
YouTube
Zoo
Casino Property News
Sydney casino sale off the cards as Star reports $2.4b loss
Star Entertainment Group chief executive Robbie Cooke says the embattled wagering operator is no longer planning to offload its flagship Sydney casino, claiming the business is in a more viable position.
Mr Cooke assured Star was in a better position to ride the wave of weak consumer discretionary spending and hefty regulatory penalties as he reaffirmed a commitment made to the NSW government to maintain headcount at the Pyrmont casino in exchange for a tax breather.
“When [former NSW treasurer] Matt Kean proposed the increase in our casino duty ... it was set at a level which just put the business in a non-viable position. Back then we were facing the need to do a strategic review of the Sydney operation”.
Mr Cooke said the damage to the company’s social licence was felt by team members but assured investors the business was stabilising despite the high level of regulatory uncertainty. “We’re seeing a consistency in performance,” he said, flagging the return of complimentary drinks to VIP members.
“We are hopeful the reintroduction of complimentary drinks ... does bring back an uplift in some business as it attracts more people to our private gaming rooms”.
#casinonews #casino #casinoproperty #gaming #gamingnews #VIP #vipnews #entertainment #starentertainment #property #propertynews #biz #biznews #markets #newsmedia #media
Pro Wrestling
AEW @AEW Dynamite Grand Slam - Sept 20, 2023
Arthur Ashe Stadium in Queens, New York City
Eddie Kingston def Claudio Castagnoli @ClaudioCSRO - ROH World Title
Chris Jericho @IAmJericho def Sammy Guevara @sammy
Rey Fenix @ReyFenixMx def Jon Moxley - AEW International Title
Saraya @Saraya def Toni Storm - AEW Women’s Title
MJF @The_MJF def Samoa Joe @SamoaJoe - AEW World Title
#AEWDYNAMITEGRANDSLAM #AEWGrandSlam #AEW #MJF #SamoaJoe #JonMoxley #ReyFenix #ChrisJericho #SammyGuevara #Jericho #Guevara
#ClaudioCastagnoli #EddieKingston #Saraya #ToniStorm #dreammatch #dreammatches #wrestling #prowrestling #sportsbiz #entertainment #popculture #video #broadcast #broadcasting #trend #trending #buzz #media
"Wrestling is something that nothing else can replace for me" - Bryan Danielson #BryanDanielson #quote #wrestling #prowrestling #wrestler #combatsports #sports #life #mbs #media
"You know what he told me when I came back to WWE?" "He said, 'Listen, I'm going to have this company for a lot longer than you think, Mr. Angle. I'm 73 right now. My mom lived to be 101. I plan on living until I'm 120.'.. 'I'm never letting the company go. I'm always going to be working here. They're going to have to pry it from my cold dead hands.' Vince - that's what keeps him going." - Kurt Angle on Vince McMahon, WWE @WWE promoter #KurtAngle #VinceMcMahon #quote #quotes #wwe #wrestling #prowrestling #combatsports #sportsentertainment #sportsbiz #promoter #entertainment #entertainmentnews #showbiz #promoter #popculture #legend #legends #media
Pro Wrestling News
WWE returns to Australia with Elimination Chamber: Perth
WWE, a TKO Group Holdings company, in partnership with the Western Australian Government through Tourism Western Australia, today announced its long-awaited return to Australia for a globally televised Premium Live Event (PLE). WWE Elimination Chamber: Perth will take place at Optus Stadium in Perth, Western Australia, on Saturday, February 24, 2024. This will mark WWE’s first event in Australia since 2018 and the only PLE in the Asia-Pacific region in 2024.
Fans across the globe interested in an exclusive presale opportunity can register now at www.wwe.com/au2024-presale
Located in the heart of Perth, the capital of Western Australia – a famed travel destination with a globally renowned record in hosting cultural and sporting events – the multi-purpose world-class Optus Stadium opened in 2018 and has hosted a multitude of sports and entertainment events including the Australian Football League Grand Final, State of Origin, Ed Sheeran’s ‘¸’ tour, Taylor Swift’s ‘Reputation’ tour, Eminem’s ‘Rapture’ tour, U2’s ‘Joshua Tree’ tour, the Red Hot Chili Peppers and the upcoming Australian-exclusive Coldplay ‘Music of the Spheres’ tour.
“Perth is the perfect location for a major WWE Premium Live Event in Australia, following a series of record-breaking WWE events in iconic international destinations,” said WWE Senior Vice President Chris Legentil. “With a week full of WWE events and experiences, we hope to leave a lasting memory for Western Australia and the entire WWE Universe.”
“Hosting WWE in Perth is a real coup for our state as it will shine a global spotlight on Western Australia to billions of viewers worldwide, attract thousands of out-of-state visitors to WA and create an incredible atmosphere in the city for the local community and visitors alike,” said the Hon. Rita Saffioti MLA, Western Australia’s Deputy Premier and Minister for Tourism. “The WA Government, through Tourism WA, is proud to support this exclusive event that will generate millions of dollars for the local economy and highlight WA as a world-class events destination. I encourage everyone to Western Australia for WWE to extend their trip to explore more of our wondrous state as part of this once in a lifetime opportunity.”
Commenting on the historic announcement, WWE Women’s World Champion and Australian native Rhea Ripley said: “I’m beyond proud to represent Australia every single time I step inside a WWE ring and to bring a Premium Live Event to Perth is a dream come true. Get ready Australia, because Mami is coming home.”
The 2023 WWE Elimination Chamber from the Bell Centre in Montreal broke multiple company records. Viewership of the event saw a 54 percent increase versus the prior record set in 2022. It also marked new high points for gate, merchandise and sponsorship.
WWE Elimination Chamber: Perth will be broadcast live in approximately 165 countries in 25 languages and seen in more than 1 billion homes. Information regarding general ticket onsale and further event updates will be available in the coming weeks.
Additionally, Priority Pass ticket packages will soon be available from On Location, offering fans the chance to be ringside for every exhilarating moment including premium seating, pre-show hospitality with WWE Superstar appearances, ringside photo opportunities, exclusive merchandise and more. Starting today, fans can place a deposit to secure access ahead of the general public. To learn more about Priority Passes or to place a deposit, please visit
www.onlocationexp.com/eliminationchamberperth
To learn more about travel package opportunities and place a deposit on a trip to Perth, please visit Sportsnet Holidays at www.sportsnetholidays.com/wwe-elimination-chamber-perth
For more information, stick with WWE.com or visit www.westernaustralia.com
WWE and Tourism Western Australia acknowledge the traditional custodians throughout Western Australia and their continuing connection to the land, waters and culture. We pay our respects to all Aboriginal peoples; Elders past, present and emerging.
(Source: WWE)
#WWEEliminationChamber #EliminationChamber #WWE #WWEPerth #WWEAustralia #WWE #wrestling #prowrestling #sportsentertainment #wrestlingnews #sportsnews #combatsports #sportstourism #entertainmentnews #popculture #buzz #Perth #trends #media
Rupert Murdoch to step down as chair of News Corp and Fox
The Australian-born media tycoon has announced he will step down from News Corp and Fox and hand over the reins to his son, Lachlan.
Rupert Murdoch has announced he will step down from his leadership roles at News Corporation and Fox after a seven-decade career.
The Australian-born media tycoon, who began his career at an Adelaide newspaper, will hand over the reins to his eldest son, Lachlan Murdoch.
Lachlan will become sole chair of News Corp and continue as executive chair and chief executive officer of Fox Corporation.
Mr Murdoch, 92, will remain as chairman of both companies until November, leaving after the firms’ respective annual general meetings. He will then take on the role of chairman emeritus.
“For my entire professional life, I have been engaged daily with news and ideas, and that will not change,” Mr Murdoch said in a memo to all staff.
“But the time is right for me to take on different roles, knowing that we have truly talented teams and a passionate, principled leader in Lachlan who will become sole chairman of both companies.”
Mr Murdoch said he was leaving both firms in “robust health”. He called his successor a “passionate, principled leader”.
Lachlan Murdoch praised his father’s “remarkable 70-year career,” and congratulated him on “the enduring legacy he leaves to the companies he founded”.
From Adelaide to NYC
Mr Murdoch, a Melburnian, got his start in the media when he took over the running of Adelaide tabloid newspaper The News following the death of his father Sir Keith Murdoch in 1952.
His successful turnaround of The News laid the foundation of the modern News Corporation and Fox.
Under Mr Murdoch, the business expanded across Australia, buying up newspapers in major capital cities. The Australian broadsheet was launched in 1964.
In the 1960s, News Corp entered the US and UK markets, becoming one of the globe’s most influential media organisations.
Along the way News picked up one of Hollywood’s biggest film studios, 20th Century Fox, before its sale in 2019.
Its Fox television network created global hits including The X Files and The Simpsons.
The company split in 2012, forming the current News Corporation and what would eventually be known as Fox Corp. Mr Murdoch remained as chairman of both separately listed companies.
In Australia, News Corp owns news.com.au along with titles including The Daily Telegraph, Herald Sun and Sky News as well as a majority share in Foxtel. Overseas, The Sun, The Times, Wall Street Journal and New York Post newspapers, Harper Collins books and Fox News all come under firms Mr Murdoch helms.
He has been awarded the Companion of the Order of Australia for services to the media and to newspaper publishing.
‘Truly proud’
In his memo to staff, Mr Murdoch said he was “truly proud of what we have achieved collectively through the decades”.
“I owe much to my colleagues, whose contributions to our success have sometimes been unseen outside the company but are deeply appreciated by me,” he said.
“Whether the truck drivers distributing our papers, the cleaners who toil when we have left the office, the assistants who support us or the skilled operators behind the cameras or the computer code, we would be less successful and have less positive impact on society without your day-after-day dedication.’
Mr Murdoch added that “our companies are in robust health, as am I”.
“Our opportunities far exceed our commercial challenges. We have every reason to be optimistic about the coming years – I certainly am, and plan to be here to participate in them.”
However, he sounded a note of caution about free speech.
“The battle for the freedom of speech and, ultimately, the freedom of thought, has never been more intense.
“My father firmly believed in freedom, and Lachlan is absolutely committed to the cause.
“Self-serving bureaucracies are seeking to silence those who would question their provenance and purpose.
“Elites have open contempt for those who are not members of their rarefied class. Most of the media is in cahoots with those elites, peddling political narratives rather than pursuing the truth.”
‘Remarkable 70-year career’
Mr Murdoch said, in his “new role”, he would still be involved every day in “the contest of ideas”.
“Our companies are communities, and I will be an active member of our community,” he wrote. “I will be watching our broadcasts with a critical eye, reading our newspapers and websites and books with much interest, and reaching out to you with thoughts, ideas, and advice. When I visit your countries and companies, you can expect to see me in the office late on a Friday afternoon.”
Lachlan Murdoch congratulated his father on his “remarkable 70-year career”.
“We thank him for his vision, his pioneering spirit, his steadfast determination, and the enduring legacy he leaves to the companies he founded and countless people he has impacted,” he wrote in a statement.
“We are grateful that he will serve as chairman emeritus and know he will continue to provide valued counsel to both companies.”
Rupert Murdoch announces transition to new role of Chairman Emeritus of Fox Corporation and News Corp.
'For my entire professional life, I have been engaged daily with news and ideas, and that will not change'
Media mogul Rupert Murdoch is transitioning from his roles as Chair of Fox Corporation and Executive Chairman of News Corp, he announced on Thursday.
Murdoch, 92, informed colleagues in a letter Thursday of his decision, noting he was in good health. He will officially make the transition in November, and his son Lachlan will become the sole chairman of both companies.
"I am writing to let you all know that I have decided to transition to the role of Chairman Emeritus at Fox and News," Murdoch wrote. "For my entire professional life, I have been engaged daily with news and ideas, and that will not change. But the time is right for me to take on different roles, knowing that we have truly talented teams and a passionate, principled leader in Lachlan who will become sole Chairman of both companies. Neither excessive pride nor false humility are admirable qualities. But I am truly proud of what we have achieved collectively through the decades, and I owe much to my colleagues, whose contributions to our success have sometimes been unseen outside the company but are deeply appreciated by me.
"Whether the truck drivers distributing our papers, the cleaners who toil when we have left the office, the assistants who support us or the skilled operators behind the cameras or the computer code, we would be less successful and have less positive impact on society without your day-after-day dedication. Our companies are in robust health, as am I. Our opportunities far exceed our commercial challenges. We have every reason to be optimistic about the coming years — I certainly am, and plan to be here to participate in them."
Murdoch went on to say the battle over freedom of speech and freedom of thought had never been more intense, and he said his family remained firmly committed to that cause. He criticized both contemptuous elites and the media in "cahoots" with them for pushing narratives rather than seeking the truth.
"In my new role, I can guarantee you that I will be involved every day in the contest of ideas," he wrote.
Lachlan Murdoch released an announcement congratulating his father and the legacy he’s left at his enormously influential companies.
"On behalf of the FOX and News Corp boards of directors, leadership teams, and all the shareholders who have benefited from his hard work, I congratulate my father on his remarkable 70-year career," said Lachlan Murdoch. "We thank him for his vision, his pioneering spirit, his steadfast determination, and the enduring legacy he leaves to the companies he founded and countless people he has impacted. We are grateful that he will serve as Chairman Emeritus and know he will continue to provide valued counsel to both companies."
Murdoch’s media empire includes FOX News Channel, which launched in 1996 under News Corp and quickly established itself as a leader in 24-hour news coverage. It recently celebrated its 25th anniversary and has consistently dominated its competition in the ratings, becoming one of the most influential and closely watched news sources in the world.
Murdoch was Executive Chairman of 21st Century Fox from 2015 to the closing of the merger of 21st Century Fox and The Walt Disney Company in March 2019. Murdoch served as CEO of 21st Century Fox from its inception as News Corporation in 1979 until 2015 and as its Chairman from 1991 to 2015.
Murdoch’s career has leaped continents as he’s put his stamp on the entire globe.
In 1954 in his mid-20s, Murdoch took control of News Limited, a public corporation based in his home nation of Australia and previously run by his father, Sir Keith Murdoch. From there, his company bought and founded Australian newspapers and then looked internationally, gaining control of the U.K.'s News of the World and The Sun in 1969, and subsequently buying several U.S. publications, including the New York Post and The Village Voice.
In 1980, News Corporation was established to consolidate international operations of its growing roster of newspapers, magazines and television assets. By 1985, Murdoch took ownership of Twentieth Century Fox as well as some regional television stations in some major U.S. markets.
The FOX Broadcasting company was launched in 1986, and by 1996, FOX Sports was a smashing success and FOX Network had become the top-ranked television group in the country.
In 2019, led by Mr. Murdoch, Fox Corporation was launched as a standalone, publicly traded company following the separation of 21st Century Fox in a deal that yet again redefined the U.S. media landscape. As Fox Corporation, the company produces and distributes content through such brands as FOX News Media, FOX Sports, FOX Entertainment, FOX Television Stations and Tubi Media Group.
Murdoch has been awarded the Companion of the Order of Australia (A.C.) for services to the media and to newspaper publishing in particular. In 2014, he was inducted into the Television Academy Hall of Fame. He and his family have made contributions to various educational, cultural, and medical charitable organizations throughout the U.S., the U.K., Australia, Asia and Israel.
High Stakes: The ‘life-or-death’ battle over a company name
Two stars of Australia’s new economy – the similarly named share trading platform Stake and online cryptocurrency casino juggernaut stake.com – are locked in a life-or-death court battle over naming rights amid growing concerns the gambling outfit has major plans for its home country.
Stake the share platform launched legal action in the Federal Court in August seeking to enforce its trademarks and stop stake.com, a multibillion-dollar enterprise, from using that name for its business in Australia.
The fast-growing Sydney-based share trading platform, the third-largest broker in the country, alleges that the casino group stake.com has been breaking Australian consumer law and has misled consumers through the use of its brand in Australia and its marketing, including its sponsorship of the Alfa Romeo team and the sale of apparel.
Stake the share trading platform, which owns the URL stake.com.au, alleges stake.com’s use of the name in Australia has potentially led to consumers believing the two brands are related when they are not.
The share trading platform Stake, founded in 2017 by entrepreneurs Dan Silver and Matt Leibowitz, alleges there is a threat that more consumers could be misled if stake.com is allowed to continue with its plans to grow its business significantly in Australia under the brand name Stake.
The casino group, led by Melbourne-based twenty-somethings billionaires Ed Craven and Bijan Tehrani, is expected to seek to have the matter summarily dismissed.
A spokesperson for stake.com said: “We are aware of a frivolous claim lodged in the Federal Court by Stakeshop, which in part claims that our global Formula One team sponsorship impinges on their ability to sell trucker hats.”
“We are proud of the global stake.com brand. As a group, we abide by the laws of the countries in which we operate, and do not offer our stake.com platform to Australian customers. We believe the claim has no legal merit and will vigorously defend our rights.”
The court case has shed new light on stake.com’s expansion plans for Australia, where it remains blocked to Australian users.
Court documents reveal the casino group has sought to buy the stake.com.au website from the sharemarket trading platform business. According to the court documents, the casino group has also registered several Australian website domains for its Australian expansion and applied to register a slew of trademarks including Stake Australia, Stake Bet and Stake Casino.
The Federal Court action comes after years of simmering tensions between the two groups over the use of stake.com’s name in Australia.
Stake.com was established in 2017 but flew under the radar in Australia until late 2021, when this masthead revealed the local origins of the business that had grown to be one of world’s largest online casinos, processing hundreds of billions of bets on sports, virtual table games and online slot machines.
In early 2022, stake.com signed hip-hop megastar Drake as its lead ambassador. Later in 2022 it signed a multi-year deal to become lead jersey sponsor for English Premier League team Everton FC as well as its sponsorship of Alfa Romeo’s F1 team.
The significant increase in stake.com’s marketing and media presence was noticed at the share trading platform group that built its user base during the COVID-inspired boom in Gen Y and Gen Z investors, thanks in part to its ultra-low cost brokerage fee model, savvy marketing and the broadening into other financial services including a superannuation product.
A spokesman for Stake the share trading platform said that since the group was founded in Australia it had built a client base of more than 500,000 and more than $2.5 billion in assets under management.
“Over the past six years, we have established a trusted and culturally relevant Australian brand that reflects our dedication to meeting customer needs. It permeates all parts of our business, spanning products, content, internal culture, customer interactions and much more, making it our most valuable asset. We are committed to protecting the Stake brand and the high level of consumer trust associated with it,” the spokesman said.
“We are concerned by the threatened use of the Stake brand in Australia by stake.com in relation to gambling, casino and sports betting services, due to the potential for customer confusion and damage to our brand and reputation.”
Stake.com is not available in Australia but according to court documents, the group is already making arrangements for a major expansion in this country and is seeking a sports betting licence.
In October 2022, stake.com casino executive Brais Pena Sanchez contacted Stake share trading founder Silver on LinkedIn and arranged a video conference meeting where the pair discussed Stake the share platform selling its Australian URL, stake.com.au, to the Curacao-registered, Australian-operated casino group.
During those discussions, Sanchez – the casino group’s chief strategy officer – informed Silver that stake.com planned to launch in Australia under the name Stakebet, or similar, according to court documents. A deal never ensued and the website remains owned by the share trading platform.
Tensions flared again in early 2023 after stake.com the casino was announced as the new team sponsor for Formula 1 team Alfa Romeo, sparking a flurry of legal letters between the two groups ahead of the Melbourne race.
According to the court documents, the casino group’s lawyers assured the share trading Stake that it would not use its logo in conjunction with the Melbourne Grand Prix and did not intend to display the name on any vehicles or uniforms or as part of the Alfa Romeo team name.
However, the share trading Stake alleges that during the four days of the Grand Prix, Stake casino logos appeared on banners for official team merchandise, the team display and on signs at the event and in the race program.
In May, Stake.com was applying to register a large number of new trademarks for goods and services. This included Stake Australia, Stake Bookie, Stake Betting, Stake Gaming, Stake Esports, Stake Casino, Stake Sportsbook, Stake Bet, Stake Punt, Stake Sports, Stake Pokes and Stake Slots.
The casino group has also registered a series of Australian website names under the “.au” domain including stakebet.au; stakecasino.au, stakesports.au and playstake.au.
The case continues.
Expend4bles @expendables
A new generation of stars join the world’s top action stars for an adrenaline-fueled adventure in Expend4bles.
Reuniting as the team of elite mercenaries, Jason Statham, Dolph Lundgren, Randy Couture, and Sylvester Stallone are joined for the first time by Curtis “50 Cent” Jackson, Megan Fox, Tony Jaa, Iko Uwais, Jacob Scipio, Levy Tran, and Andy Garcia. Armed with every weapon they can get their hands on and the skills to use them, The Expendables are the world’s last line of defense and the team that gets called when all other options are off the table. But new team members with new styles and tactics are going to give “new blood” a whole new meaning.
Lionsgate and Millennium Media present A Nu Boyana Studios and Templeton Media Production in Association With Grobman Films in Association with Media Capital Technologies.
CAST
JASON STATHAM
SYLVESTER STALLONE
CURTIS “50 CENT” JACKSON
MEGAN FOX
DOLPH LUNDGREN
TONY JAA
IKO IWAIS
RANDY COUTURE
JACOB SCIPIO
LEVY TRAN
with ANDY GARCIA
A new generation of stars join the world’s top action stars for an adrenaline-fueled adventure in Expend4bles. Reuniting as the team of elite mercenaries, Jason Statham, Dolph Lundgren, Randy Couture, and Sylvester Stallone are joined for the first time by Curtis “50 Cent” Jackson, Megan Fox, Tony Jaa, Iko Uwais, Jacob Scipio, Levy Tran, and Andy Garcia. Armed with every weapon they can get their hands on and the skills to use them, The Expendables are the world’s last line of defense and the team that gets called when all other options are off the table. But new team members with new styles and tactics are going to give “new blood” a whole new meaning.
Video
EXPEND4BLES (2023) Official Clip 'Jumbo Shrimp' - Jason Statham, Sylvester Stallone
https://www.youtube.com/watch?v=0MuGublBY8s&ab_channel=LionsgateMovies
#Expend4bles #Expendables4 #movie #entertainment #entertainmentnews #popculture #trailer #buzz #X #media
Make no mistake, Rupert Murdoch will still be calling the shots
Rupert Murdoch may have technically stepped back from running the media empire he built over many decades, but don’t be fooled by his new title of chairman “emeritus” of News Corp and Fox – an honorary title typically retained after retirement from academia – he will still be calling the shots.
Rupert made that clear with the statement that he will continue to “be involved every day in the contest of ideas” despite – technically – retiring from the board of both companies. What the announcement does do is embed his chosen heir, Lachlan Murdoch, as the undisputed successor.
But as Rupert draws even closer to the end of his reign as the most influential media figure the world has ever seen, he cannot escape the karmic irony that will emerge from his family’s own succession battle when he does die: the man who has anointed prime ministers and presidents on both sides of the Atlantic will not control the fate of his own family business.
News Corp has been asked if Rupert can still attend board meetings in this role as chairman emeritus, and if there is any boardroom business he will now be precluded from attending.
The announcement only underlines how he hopes his family’s succession drama will end. Lachlan has been on prominent display all year – starting from when plans to merge the two arms of the media empire, Fox Corp and News Corp, fell apart.
“As you know, my father and I reached the conclusion that exploring a combination with News Corp is not optimal for shareholders of Fox or News Corp at this time,” Lachlan told the market in February.
Fellow investors turned up their noses at a deal that many felt was designed to do nothing more than consolidate Lachlan’s control of the family business.
The family has gotten used to running the two businesses, with a combined market capitalisation of about $US27 billion ($42 billion), as their personal fiefdom despite owning a minority stake in both.
Murdoch’s control of the super shares that dominate voting rights at both Fox and News Corp gives the family about 40 per cent of votes despite owning just 14 per cent of each.
Rupert’s determination to maintain an iron grip on the group by means fair and foul may have been triggered by the precariousness of his own control of the family’s holding.
From the time he took control in 1952 until the early 1990s, Rupert effectively shared control of the family stake with three sisters; Helen, Anne and Janet. They had equal shares of the business alongside Rupert but effectively deferred control to their brother.
In the 1990s, Rupert succeeded in finally gaining control with a deal to buy out his own siblings.
But control of the voting rights is only in Lachlan and Rupert’s hands while the family patriarch is alive.
Ironically, the heir apparent has his mother to thank for this fact.
Trouble emerged in April 1998, when Rupert ended his 30-year marriage to Anna Murdoch to pursue his new love interest, Wendy Deng.
A furious Anna took her time in reaching a settlement with Rupert that could have, technically at least, given her half of his multibillion-dollar fortune under California law.
With potentially new heirs on the horizon, Anna played the long game on behalf of her three children and stepdaughter Prudence – as she revealed to the Australian Women’s Weekly in a rare interview in February 2000.
“I’m very comfortable and my children are protected and that was really what I was most anxious about – that my children and their inheritance would be protected. And that’s what took so long – between the separation and the divorce – to get that right,” she said.
The trusts that guard the Murdoch family’s control of the media empire are shrouded in secrecy, but enough details have emerged to shape the bargain that was made between the warring husband and wife.
The four adult children were given equal votes via representatives on the board of the trust that control the Murdoch family shares.
Rupert had equal votes to the children, but the changes meant he no longer rules unencumbered.
In a 2006 interview on the Charlie Rose talk show, Murdoch, a spry 75-year-old at that time, confirmed for the first time that his older children would control the company’s future when he dies.
“It’s really up to them,” he told Rose. “If I go under a bus tomorrow, it will be the four of them who will have to decide which one should lead.”
The only challenge to this equilibrium came from Deng who sought equal status for her daughters Chloe and Grace.
Rupert dangled $150 million in front of his four eldest children. It was enough to ensure the economic benefits of the trust were now split six ways: Deng’s daughters Chloe and Grace would get a cut of the spoils without any of the control. As Anna demanded, the votes remain with the eldest four who will collectively determine the family’s control of Fox and News Corp.
You don’t need to be a fan of Succession to appreciate the problems here. The family feuding has been writ large in print.
Lachlan’s brother, James, has effectively exiled himself from the media group after the film business, and other assets, were sold off to Disney last year but has made clear his dissatisfaction with the right-wing tilt of the media group – and its climate change coverage.
Their sister Elisabeth, has also been sidelined and left to start up yet another media business on her own. Prudence, the eldest sibling with the lowest profile, is the only one who has not been seen to seek leadership of the business and is viewed as supportive of Lachlan.
A plan for Lachlan to buy out his siblings was apparently scuttled, according to a New York Times report in 2019 when he baulked at the deal that could have guaranteed his future.
Any thoughts that Lachlan can count on the continuing support of Prudence and Elisabeth to keep the media empire on its current path was shattered with the aftermath of Donald Trump’s election loss which is still playing out in the courts for Fox News.
Fox Corp agreed to a billion dollar-plus defamation settlement with Dominion over claims it helped rig the election, but only after damaging internal emails and text messages came to light revealing how the network deliberately pandered to the false allegations of a stolen election to retain its Trump-supporting viewers.
It highlighted the invidious position Rupert and Lachlan found themselves in with the extremist right-wing audience they had cultivated at the network, now holding Fox captive. Smartmatic, another voting equipment company, is suing Fox for $US2.7 billion.
According to Lachlan Murdoch biographer, Paddy Manning, it has only made the other three siblings more determined to bring Fox to heel and assert control over the two media companies.
“There is an intention, on the part of the other siblings, to reassert control of the trust the moment Rupert dies, and to do it in a way which promotes and enhances democracies around the world rather than undermines them,” Manning says, highlighting one of the main points from his book.
But another Murdoch veteran, Australian Financial Review journalist Neil Chenoweth, is not sure the old sibling alliances – which has traditionally seen Prudence aligned with Lachlan, and Elisabeth with James – would dissolve that easily and trigger the ejection of Lachlan when they all control the family trust.
“I just can’t see that happening,” he says.
There are many different scenarios that could play out, according to Chenoweth. The four siblings would be expected to sit down and vote to distribute the billions of dollars worth of Disney shares they received from the movie giant’s takeover of Fox’s film business last year.
What if they vote to disperse the Fox and News Corp shares as well?
“That’s what would bring the Murdoch control of those companies to an end … it seems to be unlikely but the Murdoch family relationships [are] so complex, that it’s hard to know,” Chenoweth says.
Poker player admits to lying about terminal cancer to raise money to enter tournament
GoFundMe reportedly notified those who donated they would be getting refunds
An amateur poker player who said he was diagnosed with terminal stage 4 colon cancer has come clean.
Rob Mercer claimed he had the debilitating disease to raise money to enter the World Series of Poker Main Event. Mercer is now saying he lied about the diagnosis.
"I did lie about having colon cancer. I don’t have colon cancer. I used that to cover my situation," he told the Las Vegas Review-Journal. "What I did was wrong. I shouldn’t have told people I have colon cancer. I did that just as a spur-of-the-moment thing when someone asked me what kind of cancer I had.
"I’m sorry for not being honest about what my situation was. If I would have done that from Day 1, who knows what would have happened."
The 37-year-old California native started a GoFundMe in June to help him make his lifelong goal of getting to the World Series of Poker. The final buy-in for the event is $10,000, and he received contributions between $30,000 and $50,000, according to the Review-Journal.
World Series of Poker officials have yet to comment on the issue.
Mercer said he had no plans to return any of the money because he believes he has undiagnosed breast cancer. He said the GoFundMe reached out to him to tell him he violated the terms of service and people who donated were reportedly told they would be getting refunds.
Mel Gibson's 'John Wick' TV series casting defended by director after backlash: 'Not my business'
Movie star Mel Gibson returns to the screen in a 'John Wick' TV series
The director of "The Continental: From the World of John Wick" defended casting Mel Gibson in the prequel TV series, saying "personal life stuff" is not his business.
Albert Hughes, who directed two of the three upcoming episodes, chose Gibson through the "usual" process.
"I cast [Gibson] based on his past work that I grew up on," Hughes told the New York Post. "And I think he fit the role perfectly. I think once fans see it, they’ll understand why. The personal stuff is not my business to talk about."
He chose Gibson to play the role of Cormac, who manages the New York Continental in the show, which will premiere Friday.
Gibson's casting has received some backlash on social media.
"john wick without keanu (and with mel gibson) is not john wick at all," one user on X, formerly Twitter, wrote.
Another added, "I'm so angry at this because I wanted to watch Katie McGrath (and I like John Wick movies), but I can't stomach watching Mel Gibson ever again."
"Torn honestly," one user wrote. "Love the John Wick franchise but despise and loathe Mel Gibson."
"It was the usual [casting] process," Hughes explained to TVLine. "In Hollywood, it’s always about, like, the five names for one role, and then you go about systematically seeing who’s available, whose people respond. …
"The personal life stuff, that’s not my place to get into."
Chad Stahelski, who directed the "John Wick" film franchise, is serving as the executive producer of the show.
"I was always a fan of the ‘John Wick’ movies, and what [Stahelski] and [star Keanu Reeves] did," Hughes told the New York Post.
"I said, ‘Man, it looks like they’re having fun. I want to have fun. You don’t want someone imitating Keanu Reeves and Chad Stahelski. You already have that, and it’s done wonderfully well. [The show is] in the same world, but on a different road."
Gibson has been largely shut out of Hollywood following an arrest for DUI in 2006, during which the "Passion of the Christ" director went on an antisemitic rant. In 2010, tapes of Gibson shouting the N-word and other racist remarks at his girlfriend at the time, Oksana Grigorieva, were leaked.
The actor later apologized for the antisemitic rant.
"There is no excuse, nor should there be any tolerance, for anyone who thinks or expresses any kind of antisemitic remark," Gibson said at the time in a statement obtained by The New York Times.
"I want to apologize specifically to everyone in the Jewish community for the vitriolic and harmful words that I said to a law enforcement officer the night I was arrested on a DUI charge," the statement continued. "I am a public person, and when I say something, either articulated and thought out, or blurted out in a moment of insanity, my words carry weight in the public arena."
Many Rose makes her OnlyFans free for limited time
WWE released Mandy Rose the day after she dropped the NXT Championship due to her having launched an adult website without permission. Nevertheless, the former Tough Enough contestant would get the last laugh after it was later revealed she had become a millionaire off her content. And now, having recently moved from FanTime to OnlyFans, she is seemingly attempting to rebuild her subscriber base by making access to her account free of charge. However, thirsty wrestling fans must act quickly, as no-cost memberships are only available for a limited time.
WWE News: Speculation over Vince McMahon future following TKO merger
With the merger of WWE and UFC into TKO Group Holdings, Vince McMahon's once ironclad grasp on WWE is slipping.
Dan Primack of Axios pointed out in a story Thursday that a recent SEC filing stated that all of McMahon's shares for the sale are registered for sale, meaning investors can purchase all of McMahon's 28.84 million shares, likely netting McMahon around $3 billion without the usual red-tape and limitations that would normally come with a sale. Essentially, should McMahon decide he finally wants to retire — or the recent federal search warrant and grand jury subpoena served to him were to find any allegations of wrongdoing — McMahon would have an easy exit from the company without endangering TKO's ability to sell McMahon's shares.
Primack cites the phrasing in the SEC filing, which says McMahon and other parties (including WWE President Nick Khan) "will be selling stockholders in this offering," noting that the phrasing is so concrete that it leaves very little wiggle room for McMahon to retain control without those shares. Primack also labels McMahon as both the company's greatest strength, due to his experience, and its greatest liability, as he was already forced into retirement once over hush money payments to former employees and now has a federal investigation hanging over his head.
McMahon was recently on hand for an employee staff meeting following the merger, where it was said that the septuagenarian executive looked frail, walking with a cane to the podium before addressing the staff.
Chris Jericho: AEW is 'absolutely' better than it was a month ago
Jericho was a guest on Tuesday's episode of Busted Open Radio.
Chris Jericho believes AEW is "absolutely" a better place than it was a month ago.
On Tuesday, Jericho was a guest on Busted Open Radio. Though CM Punk wasn't mentioned by name, the conversation turned to how the backstage altercation at All In overshadowed AEW's historic Wembley Stadium show for some fans.
Jericho addressed whether he was frustrated by how fast news of the incident between Punk and Jack Perry got out.
It's wrestling though, man. It's only rock 'n' roll. I think people like to focus on negative. I remember when I got into the fight with Goldberg in Milwaukee [in 2003], it was out on whatever version of the internet was then 10 minutes later... So it's not like this is the first time there's been incidents backstage. It happens. I just think now with social media that people want to jump on the negative.
Jericho said the backstage issues within AEW have been rectified. He noted that there are so many positive things going on in AEW, but sometimes that gets a little bit downplayed and the negative gets focused on.
We know the issues. The issues have been rectified. But the point is, it's like -- there’s so much positive things going on. And those things are always kind of a little bit downplayed. But it’s the negative that gets focused on. I know what’s going on in the locker room, and we know what areas we need to work on. I mean, negative press is negative press.
Once again, you still got, out of those 81,000 people [at Wembley Stadium], how many people know what even happened or even really care? You know what I mean, the hardcore, and the journalists, and the guys who do this care. And we should. But there’s also fans --- not just 81,000, how about being number one on cable once again four weeks in a row? Number one -- the number one show out of all shows [on Wednesday], is AEW.
So to me, that’s a huge positive that also gets kind of lost in the shuffle because somebody’s in a bad mood one day, or whatever it might be. It happens, it’s wrestling. We’re all gypsies, tramps, and thieves, and there’s gonna be issues from time to time.
Bully Ray asked Jericho if AEW is better now than it was a month ago.
Yes. Yes, absolutely.
AEW announced on September 2 that Punk's contract had been terminated with cause following the All In incident.
Jericho is facing his protege Sammy Guevara on Dynamite Grand Slam this Wednesday night. It's the first one-on-one match that Jericho and Guevara have ever had against each other.
Foxtel slams proposal to put women’s sport on free TV list - September 18, 2023
Putting women’s sports on a government list designed to keep key games freely accessible for Australians would be a mistake, entrenching a “grass ceiling” on the players and sporting codes, Foxtel says.
The Albanese government is reviewing the “anti-siphoning list”, a law introduced in the 1990s to prevent key sports from being put behind pay TV paywalls. The legislation lists the key sporting events that must sell their broadcast rights to free-to-air networks.
After a surge in support for the Matildas at the FIFA Women’s World Cup last month, which broke Australian free-to-air TV viewing records, the government rushed to put their future games on the list.
But that does not solve a complex situation where Australians view shows on subscription platforms such as Netflix, through free broadcast services like 9Now or 10 Play, or on the likes of YouTube.
Two key players in the mix, subscription broadcaster, Foxtel and Free TV, which represents the Seven, Nine and Ten networks, have very different visions for what the future of sports rights negotiations should look like.
Foxtel commissioned a paper by research firm Charles River Associates that concluded that, in most cases, women’s AFL, NRL, FIFA Women’s World Cup, cricket, netball and basketball were already more accessible than their male counterparts.
“The benefits of explicitly including women’s sports on the anti-siphoning list would likely be symbolic at most: there would be no practical effect on the extent to which these sports are freely available to the public because they would be freely available anyway,” CRA’s Geoff Edwards wrote.
“The only clear beneficiaries would be the [free-to-air] broadcasters, which would face less competition for rights to televise listed women’s sports.”
Less competition would drive down the price of broadcast rights, reducing investment by codes and salaries for female athletes, Mr Edwards wrote – a “grass ceiling”.
Last month, the government released a set of three proposals for how the scheme could work. They include a more streamlined free-to-view approach – which would allow subscription streamers to buy sports as long as they were made free for viewers, to keeping just free-to-air aerial viewing enshrined as free – essentially the same as the law is now.
Finally, it proposed expanding it to prioritise the broadcasters’ streaming apps, like Seven’s 7plus and Nine’s 9Now. Nine is owned by Nine Entertainment, the publisher of The Australian Financial Review.
Free TV said the government’s preferred proposal, which ensures sports are available for free on aerial television for broadcasters, don’t go far enough. Major broadcasters are increasingly seeing their audiences – and revenue – move to their digital streaming services.
“The government’s preferred model would allow the most attractive livestreaming rights to be cherry-picked by online content service providers,” Free TV wrote in its submission. “Local TV services would not be able to earn sufficient revenue to acquire the rights to any iconic sporting events included on the anti-siphoning list.”
Free TV chief executive Bridget Fair said Foxtel’s proposal was a marketing tactic. “This model must be seen for what it is – a marketing strategy to loss lead with a small number of sports in front of a paywall in the hope of driving increased subscriptions,” she said.
SBS, meanwhile, said the government should broaden the anti-siphoning list to include streaming platforms, and expand the list of sports from its current 1900 to 2800 to include more women’s and para-sports events.
Submissions were due by Sunday. The government will put forward legislation by the end of the year.
UFC News and Odds
Odds for Prochazka vs. Pereira, Pantoja vs. Royval and Covington vs. Edwards
The UFC President announced a trio of title bouts for the upcoming 295 and 296 cards that already have sportsbook operates licking their chops, SportsBetting.ag among them.
SportsBetting.ag set odds for Jiri Prochazka vs. Alex Pereira and Alexander Pantoja vs. Brandon Royval Thursday morning.
The third fight confirmed, Leon Edwards vs. Colby Covington, had long been speculated and odds were initially released way back on March 19.
In March, Covington opened as a -190 favorite (Edwards +165), but was bet down to -130 (Edwards +110) within 24 hours. Currently, the odds are flipped as Covington is now the underdog.
White also stirred controversy this week by demanding that a fight judge be investigated following a UFC Fight Night: Grasso vs. Shevchenko 2 decision. The UFC boss
“When I found out that one of the judges scored 10-8, I’m like, this guy should be fucking investigated for this,” aid White. This is the craziest shit I’ve ever seen in my life.”
“I started to talk to people, I guess there’s a seminar tomorrow with the athletic commission on 10-8s, so hopefully they can get this cleared up,” added White, alluding to a forthcoming meeting of the Nevada Athletic Commission.
UFC title challenger, and former champion, Valentina Shevchenko also expressed outrage at the scorecard that resulted in her not reclaiming the UFC’s 125 lb belt.
“From my experience, a 10-8 is when one fighter completely cannot not do nothing,” said Shevchenko during her post-fight press conference. “It’s like running around, waiting, looking for an escape from the Octagon; it’s miserable. In the fifth round, it was, like, four minutes or however many minutes in stand-up, and she didn’t land one punch. She could only take the back position in the last minute, minute and a half. I don’t remember now. But even there, it was not damage. It wasn’t too much damage to succeed with this 10-8.”
Fight Odds
Alex Pereira -110
Jiri Prochazka -120
Brandon Royval +200
Alexander Pantoja -260
Colby Covington +125
Leon Edwards -145
'WWE SmackDown' leaving Fox, returning to USA in '24
One big part of the WWE’s media rights package has been decided, as the Friday night “WWE SmackDown” series will leave Fox next year and return to USA. The five-year deal, which officially starts in October 2024, will be announced officially later this morning. Specific financials were not released. As part of the deal, NBC has committed to produce four primetime specials per year that will run on its broadcast network. “WWE Smackdown” had been on USA from 2016 to 2019, when it moved over to Fox.
ONE TO GO: This move leaves the Monday night “WWE Raw” as the last package WWE needs to sell. “Raw” is WWE’s top property and has generated a lot of interest from both traditional linear TV companies and digital players. NBCU is still in talks to renew its “Raw” deal. After all, “Raw” has anchored Monday nights on USA for the better part of 20 years; USA also carries “WWE NXT;” NBC carries WWE Network on Peacock; and it just cut this “SmackDown” deal. But even as the market for sports rights has tightened due to the cord cutting trends, other companies have engaged in talks, including Disney and Amazon. Sources say there is potential for “Raw” to move off of Monday nights as part of a new deal, though nothing has been decided yet.
TKO STOCK DROPS: Sources told the WSJ that the value of the pact is “roughly $1.4 billion, which is about a 40% increase over the deal WWE had with Fox.” Despite that increase, Wall Steet did not respond well to the deal, as shares of TKO -- the new holding company for WWE and the UFC -- dropped around 15% on Thursday to close at $85.97 (TKO went public just over a week ago at $102/share).
(SBJ)
How Many Households are Passionate ESPN Viewers?
While multiple industry sources have told us Disney and Charter hope to reach a deal before the kick-off of Monday Night Football this evening (link), we have been getting a lot of investor questions on the underlying popularity of ESPN. Disney released a stat last week that 71% of Charter subscribers tune into a Disney broadcast station or cable network in the average month. As we have learned from many of the digital companies in our coverage universe, the word “watch” can be highly manipulated (remember the Netflix 2 minute definition). In turn, we decided to dig deeper into the actual household viewership of ESPN.
While the current Disney/Charter blackout involves far more than ESPN, we see very little content outside of ESPN that cannot be replaced with one of Disney’s streaming services (Disney Channel content has moved to Disney+, FX content has moved to Hulu, etc). While losing ABC TV stations certainly matters, it is important to remember that Charter’s geographic overlap with Disney’s owned and operated ABC TV stations is quite low. In fact, we believe less than two million of Charter’s 14 million residential video customers are impacted by the current ABC blackout, whereas all 14 million Charter residential subscribers are without ESPN.
Whether we are talking about ESPN’s leverage in the current Charter carriage battle or ESPN’s ability to one day go direct-to-consumer, what matters is the amount of households that cannot live without ESPN. While Nielsen is associated with publishing viewership and ratings for specific programming, they also track how many households watch at least 6 minutes, 1+ hour, 3+ hours, 6+ hours, 9+ hours, 12+ hours and 15+ hours of a given broadcast or cable network each month. Given the timing of specific live sports programming, monthly household viewership of ESPN varies widely, with the peak month (January) double the yearly average and multiples of the trough month.
We doubt anyone who watches less than 3 hours of ESPN in a month (effectively one live game) would switch video providers due to a blackout, let alone broadband providers. We have heard that less than 40% of US households watch at least 3 hours of ESPN in their biggest month, with half that level in the average month. The really shocking statistic is what happens when you adjust the viewership bar to 6+ hours of ESPN monthly, with only 20% of US households in the peak month and well under half that level in the average month. While ESPN has strong overall viewership whether we are talking about Charter subscribers or the country as a whole, it comes from a small segment of passionate sports fans. Just 1% of US households watch over 12 hours of ESPN in the average month.
What Could This Imply for Charter?
Charter will have a much more difficult time adding new subscribers (gross adds) if ESPN is actually gone forever (not to mention ABC in markets where Charter and ABC O+O stations overlap). While the sell-in of video from broadband gross adds has been falling as Charter’s broadband bundling focus shifts from video to mobile (as LightShed’s Walt Piecyk has pointed out), there will be an impact. Does not having ESPN give a potential gross broadband add a reason to look elsewhere, at least where quality alternatives exist? Things certainly have changed with the popularity of vMVPDs, so it is not totally clear.
Looking purely at Charter’s existing residential video subscriber base of 14 million (14.7 million with commercial video), the question is how many will leave Charter if the ESPN/ABC blackout is permanent? We suspect somewhere between 20-40% ultimately churn (based on the 20% watch 6+ hours to 40% watch 3+ hours). However, it will take time, as the trigger to leave will likely be tied to programming you cannot live without, which builds throughout Q4 into January. But even if one assumes the mid-point of 30% of video subs ultimately leave (~4 mm video subs), Charter could save well over $1.3 billion, as their annual programming expense to Disney is a reported $2.2 billion today. (Note: we are assuming a 17% contribution margin on video)
Switching video providers is quite easy today, with an array of vMVPDs that can be added with a few clicks and a credit card and the consumer ending up with a cheaper and technologically superior video experience to any facilities-based MVPD. Broadband is not as easy to replace and is certainly more time consuming. In turn, the critical question is even if Charter lost 4 million residential video subs, how many broadband subs would they lose? Would 1 in 10 switch? 1 in 5 switch? Unless it was 1 in 2, Charter would come out financially ahead in the short-intermediate term in the Disney/ESPN/ABC blackout. (Note: we are assuming an 80% contribution margin on broadband)
Therefore, focusing purely on the math, all signs point to Disney needing to cave as Charter could, at least in theory, survive a permanent blackout, whereas Disney (and ESPN in particular) cannot survive with fixed and rising sports programming costs.
Why Disney Should Cave and What it Implies for ESPN’s DTC Future?
While we continue to doubt a permanent blackout, the relatively narrow viewership of ESPN illustrates why Charter is so focused on reducing the packaging penetration requirements in a new distribution agreement with Disney (likely from 80%+ today to 50% or less over several years, as we discussed in our post last week here), as well as how challenged Disney is in taking ESPN fully direct-to-consumer as we anticipate in late 2025.
We continue to believe Disney will cave on Charter’s packaging penetration requirements knowing they plan to take ESPN DTC. The far bigger unknown is whether they are willing to cave on providing Charter subscribers their ad-supported streaming services at no incremental cost as they currently do for Hulu + Live TV subscribers;
(LightShed Partners)
Sydney casino sale off the cards as Star reports $2.4b loss - 29th August 2023
Star Entertainment Group chief executive Robbie Cooke says the embattled wagering operator is no longer planning to offload its flagship Sydney casino, claiming the business is in a more viable position.
Mr Cooke assured Star was in a better position to ride the wave of weak consumer discretionary spending and hefty regulatory penalties as he reaffirmed a commitment made to the NSW government to maintain headcount at the Pyrmont casino in exchange for a tax reprieve.
“When [former NSW treasurer] Matt Kean proposed the increase in our casino duty ... it was set at a level which just put the business in a non-viable position. Back then we were facing the need to do a strategic review of the Sydney operation,” Mr Cooke told The Australian Financial Review.
“Given now that the new government has actually done a comprehensive review of the duty regime, and we’ve now got certainty and that has meant we have a viable proposition, jobs are no longer at threat and we no longer need to do that strategic review. That’s no longer on the agenda.”
Mr Cooke’s comments follow Star’s $2.4 billion annual loss, slashing more than $2 billion from the value of its three casinos.
A potential AUSTRAC fine, four class actions and two revoked state casino licences weighed on the embattled casino operator’s 2023 financial year, culminating in a $2.2 billion non-cash impairment of The Star Sydney, The Star Gold Coast and Treasury Brisbane.
Mr Cooke said the damage to the company’s social licence was felt by team members but assured investors the business was stabilising despite the high level of regulatory uncertainty. “We’re seeing a consistency in performance,” he said, flagging the return of complimentary drinks to VIP members.
“We are hopeful the reintroduction of complimentary drinks ... does bring back an uplift in some business as it attracts more people to our private gaming rooms.”
Treasurer’s reprieve
Revenue climbed 22 per cent to $1.9 billion for the 2023 financial year, a figure which was affected the previous year by COVID-19 restrictions. Statutory earnings before interest, tax, depreciation and amortisation excluding any significant items was slightly above previously announced guidance at $317 million for the year ending June 30, an increase of $79 million.
But it was the move by NSW Treasurer Daniel Mookhey this month to defer duty rates for poker machines until 2030 that has taken the potential sale of Star’s flagship asset off the table.
Star engaged Barrenjoey Capital Partners as part of a strategic review of its Sydney property in April, an asset it has poured $1.3 billion into over more than a decade. Mr Cooke said the company’s $100 million program (which resulted in 500 job losses) and NSW tax reprieve took the Sydney sale off the agenda.
The delay to tax increases – which will lift duty rates by up to 51.6 per cent – is conditional on Star maintaining a workforce of more than 3000 at its flagship Sydney casino. “We’re very comfortable with the commitments ... we’ve cycled through that softness and maybe that’s what Crown’s now experiencing,” Mr Cooke said.
Star’s Sydney casino revenue increased 27 per cent to $978 million for the year, driven by a large increase in non-gaming revenue. EBITDA climbed 57 per cent to $127 million.
Star is continuing to refinance its debt, and the adjusted NSW casino duty rates will help with this process. Christina Katsibouba, Star’s chief financial officer, said the group needed refinancing to improve flexibility.
“There is quite a lot of interest and quite a variety of proposals as well. We are open-minded about the best structure for the refinance,” Ms Katsibouba said. Mr Cooke said he had not approached major shareholder Bruce Mathieson about refinancing the business.
Star is still waiting on the outcome of legal action launched by AUSTRAC for alleged breaches of anti-money laundering and counter-terrorism laws and four class actions. It has provisioned for a $150 million penalty. Its rival, Crown Resorts, was fined $450 million.
Mr Cooke said he had no visibility over an investigation by Queensland’s office of liquor and gaming into Star’s Queen’s Wharf joint venture partner, Chow Tai Fook Enterprises, and the impact it could have on Star’s operation.
The regulator is assessing whether it is a suitable casino owner after an ABC investigation raised the Chinese firm’s alleged links to organised criminal associations. “We’re not aware of the detail of that review ... we don’t know what the likely outcome is. We really just have to wait and see,” M Cooke said.
Star’s share price has dropped more than 60 per cent this year, but was up 6 per cent at $1 in afternoon trading. The group did not pay a final dividend.
The Biggest Sports Teams
Gamification: Gallup research reveals that baseball was America’s favorite spectator sport from its debut survey in 1937 until deep into the 1960s, when football wrestled the number one spot away — a position it has held ever since. Today, football is huge business, with the latest Forbes list of most valuable sports teams dominated by football teams.
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Ticket sales, merchandise and sponsorships all drive huge revenues for NFL teams — but it’s the TV deals that are truly game changing. The sport itself is well-suited for modern marketing, with advertisements easily insertable between plays, helping the league secure the most lucrative TV sports deal to date — a whopping $112 billion, 11-year contract that has come into effect this season.
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30 out of the world's 50 most valuable sports teams are NFL franchises, with the Dallas Cowboys' $9bn valuation topping the list. The biggest in baseball — the iconic New York Yankees — notched up a $7.1bn valuation, ahead of the LA Dodgers ($4.8bn) and Boston Red Sox ($4.5bn). But the number of MLB teams on Forbes' list has remained at a record low level, with only 5 making the cut this year, down from 12 in 2015.
(Chartr)
Elon Musk reveals Twitter takeover driven by ‘woke mind virus’ - September 5, 2023
Elon Musk was driven to take over Twitter after fearing his transgender daughter had been infected with a “woke mind virus” incubated on the social media platform.
Mr Musk had initially rushed to embrace the news when Jenna, formally known as Xavier, transitioned at age 16.
But when she later cut him out of her life entirely, he knew he had a fight on his hands, a battle that would eventually culminate in the world’s richest man buying Twitter for $44 billion.
The Tesla owner believed his child had been radically transformed by the $US50,092 ($87,000) a year liberal school she attended in California.
“She went beyond socialism to being a full communist and thinking that anyone rich is evil,” Mr Musk said.
In an interview with Walter Isaacson for his upcoming biography, Elon Musk, the Space X billionaire, said he saw the same mentality had enveloped Twitter.
He believed it had been infected by a mindset that suppressed right-wing and anti-establishment voices. His solution was to buy it.
“Unless the woke mind virus, which is fundamentally anti-science, anti-merit, and anti-human in general, is stopped, civilisation will never become multi-planetary,” Mr Musk told Mr Isaacson.
After purchasing Twitter, Mr Musk’s erratic and unpredictable leadership saw him quickly reinstate the previously banned accounts of right-wing agitators including Donald Trump and Kanye West.
Now, an excerpt of his upcoming book, published this week in The Wall Street Journal, gives an astonishing insight into how the deal unfolded, lifting the curtain on how haphazard texts and video-gaming played into the drama.
More than 20 years ago, Mr Musk started X.com, which he had envisioned as an “everything app”.
When the firm merged with Confinity to create what would become PayPal, Mr Musk pushed for the service to be called X.com. His peers were dubious, thinking it sounded like seedy adult services, and pushed for the alternative. Mr Musk lost.
Speaking recently, Mr Musk said: “If you want to just be a niche player, PayPal is a better name. But if you want to take over the world’s financial system, then X is the better name.”
With $10 billion cash in his pocket from expiring Tesla stock, Mr Musk asked the “easy question” of what product he liked. “It was Twitter,” he said.
In January 2022, he told his personal business manager, Jared Birchall, to start buying shares.
Despite his businesses, Tesla, SpaceX and Starlink, all outperforming their rivals and soaring in value, Mr Musk was still unfulfilled in April 2022.
Shivon Zilis, a director of Neuralink, Mr Musk’s AI firm and the mother of his twins, told him: “You don’t have to be in a state of war at all times. Or is it that you find greater comfort when you’re in periods of war?”
Mr Musk said his “default settings” include always wanting “to push my chips back on the table or play the next level of the game”.
He said in April: “Twitter could become what X.com should have been, and we can help save free speech in the process.”
Mr Musk called Twitter chief executive Parag Agrawal and the pair met for dinner with chairman of the board Bret Taylor on March 31, 2022. Mr Musk was invited to join the board, and he agreed.
The tech billionaire described Mr Agrawal as a “really nice guy” but said Twitter “needs a fire-breathing dragon”.
But on April 6 he told his fellow PayPal founders Luke Nosek and Ken Howery in the Tesla factory in Austin, Texas, that his involvement was “a recipe for trouble”, adding: “It’s very clear that the inmates are running the asylum.”
He argued it would be good for democracy but Mr Howery probed whether it “should be like a telephone system, where the words that go in one end come out exactly the same on the other end?”
“Or do you think this is more like a system that is governing the discourse of the world, and maybe there should be some intelligence put into the algorithm that prioritises things?”
Mr Musk suggested charging people to be verified to eliminate bots, bring in cash and help transform it into a payments platform – fulfilling his “original vision” for X.com.
What to do about Twitter
Mr Musk flew to billionaire Larry Ellison’s Hawaiian island, Lanai, where he spent four days contemplating what to do about Twitter.
It was there, at 3.32am local time, that he posted the antagonistic tweet which asked whether the platform was dying.
Mr Agrawal sent Mr Musk a text 90 minutes later, saying: “You are free to tweet ‘Is Twitter dying?’ or anything else about Twitter, but it’s my responsibility to tell you that it’s not helping me make Twitter better in the current context.”
At 5am local time, Mr Musk landed a second blow, replying: “What did you get done this week?” before adding: “I’m not joining the board. This is a waste of time. Will make an offer to take Twitter private.”
Mr Agrawal and Mr Taylor both asked to talk, with the latter saying: “Do you have five minutes, so I can understand the context?”
Mr Musk said: “Fixing Twitter by chatting with Parag won’t work. Drastic action is needed.”
He later said he had the realisation “I didn’t want to be co-opted and be some sort of Quisling on the board”.
At that point, Mr Musk had not given up on the idea of starting a new social media company, an idea he had discussed with his brother, Kimbal.
“I think a new social-media company is needed that is based on the blockchain and includes payments,” he texted him.
Within hours he had changed his mind, he was going to buy the company outright. He texted Mr Birchall: “There is no way to fix the company as a 9 per cent shareholder.”
Mr Musk then flew to Vancouver to link up with his girlfriend Claire Boucher, the performance artist known as Grimes.
The purpose of the trip was to introduce their son, X, to her parents. But Mr Musk was focused on the Twitter deal, so she made the trip herself.
Back in the hotel, Mr Musk texted his decision to Mr Taylor: “I have decided to move forward with taking Twitter private.” The tycoon unwound by playing a video game until 5.30am, before tweeting: “I made an offer.”
Mr Musk then set about trying to find investors to finance the deal. Kimbal declined but billionaire Larry Ellison was more accommodating, having already signalled his interest.
He was ready to invest a billion or whatever Mr Musk decided into Twitter, something he had not used for a decade. The Tesla tycoon even had to reset Mr Ellison’s password.
Sam Bankman-Fried, who was later charged after the collapse of his cryptocurrency exchange FTX but denies wrongdoing, was also interested. Mr Musk was unenthusiastic.
Undeterred, Mr Bankman-Fried texted Mr Musk, saying he was “really excited about what you’ll do with TWTR”. He was ready to turn the $100 million worth of shares he already held in Twitter into a stake in the new company once it went private.
“Sorry, who is sending this message?” Mr Musk texted back.
Again, undeterred Mr Bankman-Fried rang Mr Musk. The 30-minute call did not go well.
“My bulls--t detector went off like red alert on a Geiger counter,” Mr Musk recalled. “He was talking like he was on speed or Adderall, a mile a minute. I was thinking, ‘Dude, calm down.’”
Mr Bankman-Fried was equally unimpressed, thinking Mr Musk was “nuts”.
It ended with Mr Bankman-Fried neither investing in the company nor even converting his existing shares into a stake in the new enterprise.
Initial euphoria
Mr Musk raised the cash, and his plans were accepted by the Twitter board at the end of April.
Initially, the tech tycoon was euphoric. “I am very excited about finally implementing X.com as it should have been done, using Twitter as an accelerant!” he texted.
Within days the doubts emerged. “I will need to live at Twitter HQ. This is a super tough situation. Really bumming me out,” he told Walter Isaacson.
Mr Musk’s growing belief that Twitter had been lying about its number of users was reinforced by a whistleblower and others. He was convinced the $44 billion offer was too high and throughout September was on the phone to his lawyers as Twitter went to court trying to force Mr Musk to honour the offer.
“They are s---ing bricks about the dumpster fire they’re in,” he said of the Twitter board. “I cannot believe that the judge will railroad the deal through.”
But Mr Musk’s lawyers saw things differently, warning him he would lose if the case went to court.
“Arguably, I should just pay full price because these people running Twitter are such blockheads and idiots,” Mr Musk said. “The potential is so great. There are so many things I could fix.” The deal was closed in October.
Unimpressed with office visit
Days before completing the formalities, Mr Musk visited Twitter’s 10-storey Art Deco headquarters in San Francisco.
There were coffee bars, a yoga studio, and a games arcade. Signs on the staff lavatories read “Gender diversity is welcome here” and cabinets were stuffed with T-shirts bearing the slogan “Stay Woke”. Staff could work from home and were allowed a “mental day of rest” every month.
Mr Musk was not impressed. His preferred buzzword was “hardcore”.
Under the agreement, Mr Agrawal and senior Twitter executives were entitled to severance pay and to take their share options. Mr Musk was not happy, believing that they had misled him while negotiating the deal.
He proposed to bring the agreement forward by a few hours, giving him a window to sack them before they could cash in the stock options.
The deal was closed at 4.12 pm Pacific time. At the same time, Mr Musk’s assistant delivered dismissal letters to Mr Agrawal and his three deputies. Six minutes later, Mr Musk’s top security man turned up at the conference room to tell them that their email was cut off and to escort them out of the building.
Mr Agrawal had tried to resign.
“But we beat him,” said Mr Musk’s lawyer, Alex Spiro.
The Rock’s WWE Return Draws Massive Social Media Views - 18th September 2023
The Rock’s return to WWE on SmackDown has led to an incredible of social media views for the company.
Fans who attended WWE SmackDown in Denver last Friday were in for a treat when Dwayne “The Rock” Johnson made his return to WWE after being away for several years.
Pat McAfee started the show with a promo when he was rudely interrupted by former US Champion Austin Theory, whom Pat had defeated at WrestleMania 38. After Theory claimed it was Austin Theory’s show, Pat told Austin this will never be Austin Theory’s show, this will be the People’s Show and do you know what that means? That’s what led to the appearance of “The People’s Champion” known as The Rock.
It was not an advertised return for The Rock, who was in the state of Colorado earlier on Friday with Pat McAfee on Pat’s ESPN/YouTube show. The two men also attended the Colorado Buffaloes football game in Boulder, CO on Saturday night. Since Rock and McAfee were in Colorado, they made their way to Smackdown too.
The Rock led the crowd in chanting that Austin Theory was an “a**hole” which led to the censors on FOX being used, but the fans seemed to enjoy it. Theory tried to do an attack, but The Rock handled him with a spinebuster and People’s Elbow. McAfee did his own People’s Elbow followed by the two men celebrating with the crowd.
Despite not being advertised, The Rock’s return obviously led to a lot of attention among WWE fans who likely alerted their friends about the future Hall of Famer being on the show.
The Rock’s SmackDown return led to massive amount of views on social media
According to WWE, The Rock’s appearance on SmackDown has been viewed across the company’s social media channels over 103 million times!
On WWE’s YouTube channel, the clip of The Rock’s segment has over 4 million views while a clip of a brief Rock-John Cena segment has nearly 2 million views. Those are very high numbers for WWE’s YouTube channel.
In an interview with McAfee earlier on Friday, The Rock said he’s open to the possibility of wrestling at WrestleMania 40 while also admitting that he nearly competed at WrestleMania 39 against Roman Reigns.
WWE Wants Cristiano Ronaldo At Crown Jewel
Cristiano Ronaldo could be set for a sensational appearance in WWE.
WWE is set to return to Saudi Arabia for one of its major shows when Crown Jewel takes place on the 4th of November. 2022’s edition of Crown Jewel was headlined by Logan Paul challenging Roman Reigns for the Undisputed WWE Universal Championship with Reigns picking up the win to continue his historic title reign.
ohn Cena is already being advertised for the show which would see him return to the Middle East for the first time in five years but now it seems the company is looking to extend its reach into the soccer world.
Diario AS has reported that WWE is looking to bring in former Manchester United and Real Madrid star Cristiano Ronaldo for the show “at any cost.”
WWE could benefit from Cristiano Ronaldo’s huge profile in Saudi Arabia
Following the controversial end of Ronaldo’s second spell at Manchester United which saw his contract terminated in November 2022, it was announced that as of the 1st of January 2023, the iconic star would join Saudi team Al-Nassr for a reported 200 million Euros a year.
Ronaldo joining the Saudi Pro League opened the floodgates for many other major players making the switch to the country with lucrative contracts on offer. Critics will point to the money spent to attract major players are further evidence of sportswashing especially as the Saudi government through its Public Investment Fund took 75% stakes in four of the nation’s top clubs including Ronaldo’s Al-Nassr.
Cristiano Ronaldo wouldn’t be the first soccer player to appear at a WWE show with former Wimbledon tough guy turned actor Vinnie Jones appearing for the company in the late nineties in the UK alongside Stone Cold Steve Austin. Ronaldo’s former Manchester United teammate Wayne Rooney famously slapped Wade Barrett from ringside during a show in Manchester after Barrett repeatedly insulted the star.
All Elite Wrestling: WrestleDream - Broadcast via PPV on October 1. Via FITE and others
The following matches are advertised for the AEW WrestleDream pay-per-view event that will be held on Sunday, October 1 in Seattle, Washington at Climate Pledge Arena.
-Bryan Danielson vs. Zack Sabre Jr.
-Swerve Strickland vs. Hangman Page
-“FTR” Dax Harwood and Cash Wheeler vs. “Aussie Open” Kyle Fletcher and Mark Davis for the AEW Tag Team Titles
-Katsuyori Shibata defends the ROH Pure Championship
-MJF and Adam Cole defend the ROH Tag Titles against the winners of a four-way tag match
The PPV special will include a beautiful tribute feature to the late, great Antonia Inoki, one of the most instrimential figures in the history of pro wrestling and combat sports promoting.
SmackDown Returns to USA Network as Part of Five-Year Agreement Between WWE and NBCUniversal - September 21, 2023
It was announced via a press release on Thursday morning that SmackDown was returning to the USA Network in October 2024. Therefore, it seemed like the network would be the primary home of WWE’s television going forward. However, according to the Wall Street Journal, that may not be the case, as it’s now believed the network won’t be renewing the rights to both Raw and NXT, with them apparently paying as much for SmackDown as the two other shows combined.
“With “SmackDown” returning to USA, the network isn’t expected to renew the rights to “Raw” and “NXT,” two other WWE shows it currently carries, according to some of the people. The deal for “Smackdown” is likely to cost USA as much as the rights for “Monday Night Raw” and “NXT,” one of the people familiar with the matter said.”
Wall Street Journal
The USA Network has a longstanding history with WWE dating back to 1977 when broadcasts of Madison Square Garden events would be aired on the network. Subsequently, they would begin airing WWF All American Wrestling weekly in September 1983 and, since then, have more often than not featured WWE programming.
Press Release
WWE to Make NBC Primetime Debut with Launch of Four Network Specials
STAMFORD, Conn.--(BUSINESS WIRE)-- WWE, part of TKO Group Holdings, Inc. (NYSE: TKO), and NBCUniversal have agreed to a five-year domestic media rights partnership that will bring Friday NightSmackDown back to USA Network beginning October 2024. Additionally, beginning in the 2024/25 season, WWE will produce four primetime specials per year that will air on NBC, marking the first time WWE will air on the network in primetime.
SmackDown will come exclusively to NBCU as one of television’s longest-running programs, regularly rating as the No. 1 show in the 18-49 advertising demographic on Friday nights and featuring many WWE Superstars including John Cena, Roman Reigns, Bianca Belair, Charlotte Flair, and Rey Mysterio.
“NBCUniversal has been a tremendous partner of WWE for decades,” said WWE President Nick Khan. “We are excited to extend this longstanding relationship by bringing SmackDown to USA Network on Friday nights and look forward to debuting multiple WWE special events annually on NBC.”
“It’s a privilege and thrill to continue NBCU’s decades-long partnership with WWE which has helped cement USA Network’s consistent position as the top-rated cable entertainment network in live viewership” said Frances Berwick, Chairman, NBCUniversal Entertainment. “With Friday nights on USA, primetime specials on NBC, and the WWE hub on Peacock, we’ll continue to use the power of our portfolio to super-serve this passionate fanbase.”
As part of WWE and NBCUniversal’s longstanding relationship, USA Network is currently home to WWE NXT and WWE Monday Night Raw, which is the #2 cable entertainment program in 2023 in the 18-49 demo. Demonstrating the deeply engaged WWE audience on USA, WWE NXT (+27%) and WWE Monday Night Raw (+15%) are up double-digits year-over-year in the target demographic. WWE Monday Night Raw and WWE NXT will continue to air on USA Network through September 2024.
In addition, since 2021, Peacock has been the exclusive home of WWE Network in the U.S. where Peacock subscribers can stream thousands of hours of on-demand programming from WWE including original series, groundbreaking documentaries, fan-favorite shows from the WWE archives, and premium live events like WrestleMania, Survivor Series, Royal Rumble, Summer Slam,and more. WWE continues to drive high engagement on the platform, with this April’s WrestleMania 39 livestream delivering a record-breaking weekend for Peacock as its highest weekend usage to-date.
About WWE
WWE, part of TKO Group Holdings (NYSE: TKO), is an integrated media organization and the recognized global leader in sports entertainment. The company consists of a portfolio of businesses that create and deliver original content 52 weeks a year to a global audience. WWE is committed to family-friendly entertainment on its television programming, premium live events, digital media, and publishing platforms. WWE’s TV-PG programming can be seen in more than 1 billion homes worldwide in 25 languages through world-class distribution partners including NBCUniversal, FOX Sports, TNT Sport, Sony India and Rogers. The award-winning WWE Network includes all premium live events, scheduled programming and a massive video-on-demand library and is currently available in approximately 165 countries. In the United States, NBCUniversal’s streaming service, Peacock, is the exclusive home to WWE Network. Additional information on WWE can be found at wwe.com and corporate.wwe.com.
About NBCUniversal
NBCUniversal is one of the world’s leading media and entertainment companies. We create world-class content, which we distribute across our portfolio of film, television, and streaming, and bring to life through our theme parks and consumer experiences. We own and operate leading entertainment and news brands, including NBC, NBC News, MSNBC, CNBC, NBC Sports, Telemundo, NBC Local Stations, Bravo, USA Network, and Peacock, our premium ad-supported streaming service. We produce and distribute premier filmed entertainment and programming through Universal Filmed Entertainment Group and Universal Studio Group, and have world-renowned theme parks and attractions through Universal Destinations & Experiences. NBCUniversal is a subsidiary of Comcast Corporation.
About TKO
TKO Group Holdings, Inc. (NYSE: TKO) is a premium sports and entertainment company that comprises UFC, the world’s premier mixed martial arts organization, and WWE, an integrated media organization and the recognized global leader in sports entertainment. Together, our organizations reach more than 1 billion TV households in approximately 170 countries, and we organize more than 350 live events year-round, attracting over one million fans. TKO is majority owned by Endeavor Group Holdings, Inc. (NYSE: EDR), a global sports and entertainment company.
ENDEAVOR ANNOUNCES CLOSE OF UFC® AND WWE® TRANSACTION TO CREATE TKO GROUP HOLDINGS, A PREMIUM SPORTS AND ENTERTAINMENT COMPANY
09/12/2023
New Company to Begin Trading Today, September 12, on the New York Stock Exchange Under “TKO” Ticker Symbol
BEVERLY HILLS, Calif. & STAMFORD, Conn. (September 12, 2023) – Endeavor Group Holdings, Inc. (NYSE: EDR) (“Endeavor”) and World Wrestling Entertainment, Inc. (previously NYSE: WWE) (“WWE”) today announced the close of their previously announced agreement and the launch of TKO Group Holdings, Inc. (NYSE: TKO) (“TKO”).
TKO brings together UFC, the world’s premier mixed martial arts organization, and WWE, an integrated media organization and the recognized global leader in sports entertainment, to create a new premium sports and entertainment company serving more than one billion young and diverse fans1, reaching viewers in 180 countries, and producing more than 350 annual live events. Through this combination, TKO will leverage Endeavor’s expertise in areas including domestic and international media rights, ticket sales and yield optimization, event operations, global partnerships, licensing, and premium hospitality to drive revenue growth.
“The creation of TKO marks an exciting new chapter for UFC and WWE as leaders in global sports and entertainment,” said Ariel Emanuel, CEO of Endeavor and TKO. “Given their continued connectivity to the Endeavor network, we are confident in our ability to accelerate their respective growth and unlock long-term sustainable value for shareholders. With UFC and WWE under one roof, we will provide unrivaled experiences for more than a billion passionate fans worldwide.”
“This is the culmination of a decades-long partnership between Endeavor and WWE across strategic initiatives including talent representation and media rights. Given our collaborative, trusted relationship and Endeavor’s incredible track record of success growing UFC, we believe WWE is optimally positioned for future growth and success as part of TKO,” said Vince McMahon, Executive Chairman of TKO. “Our focus remains on delivering for our fans across the globe as we take the business to the next level alongside UFC and Endeavor.”
TKO will begin trading today on the New York Stock Exchange under the ticker symbol “TKO,” with Endeavor holding a 51% controlling interest in the new company and existing WWE shareholders holding a 49% interest in the new company, on a fully diluted basis.
Leadership Team
As previously announced, TKO is led by:
Ariel Emanuel, Chief Executive Officer, who continues as Chief Executive Officer of Endeavor;
Mark Shapiro, President and Chief Operating Officer, who continues as President and Chief Operating Officer of Endeavor;
Andrew Schleimer, Chief Financial Officer; and
Seth Krauss, Chief Legal Officer, who continues as Chief Legal Officer of Endeavor.
Dana White is now Chief Executive Officer of UFC and Lawrence Epstein remains Senior Executive Vice President and Chief Operating Officer of UFC. Nick Khan continues at WWE in the role of President.
The Board of Directors of TKO is led by Vince McMahon as Executive Chairman of the Board and consists of 11 members, including Mr. Emanuel, Mr. Shapiro, and Mr. Khan, in addition to the following directors:
Peter C.B. Bynoe, Senior Advisor at DLA Piper LLP;
Egon P. Durban, Co-Chief Executive Officer of Silver Lake;
Steven R. Koonin, Chief Executive Officer of the Atlanta Hawks, LLC;
Jonathan A. Kraft, President of the Kraft Group LLC;
Sonya E. Medina, President and Chief Executive Officer of Reach Resilience;
Nancy R. Tellem, Executive Chairperson and Chief Media Officer of Eko; and
Carrie Wheeler, Chief Executive Officer and a board member of Opendoor Technologies Inc.
Advisors
Morgan Stanley & Co. LLC and Goldman Sachs & Co. LLC served as financial advisors to Endeavor, Latham & Watkins LLP served as legal advisor to Endeavor, and Alvarez & Marsal served as integration advisor to Endeavor. The Raine Group served as lead financial advisor to WWE. J.P. Morgan and Moelis & Company LLC served as financial advisors to WWE. Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal advisor to WWE, and Kirkland & Ellis LLP served as legal advisor to WWE’s controlling stockholder, McMahon.
About Endeavor
Endeavor (NYSE: EDR) is a global sports and entertainment company, home to many of the world’s most dynamic and engaging storytellers, brands, live events and experiences. The company is comprised of industry leaders including entertainment agency WME; and sports, fashion, events and media company IMG. Endeavor is also the majority owner of TKO Group Holdings (NYSE: TKO), a premium sports and entertainment company comprising UFC and WWE. The Endeavor network specializes in talent representation, sports operations & advisory, event & experiences management, media production & distribution, experiential marketing and brand licensing.
About TKO
TKO Group Holdings, Inc. (NYSE: TKO) is a premium sports and entertainment company that comprises UFC, the world’s premier mixed martial arts organization, and WWE, an integrated media organization and the recognized global leader in sports entertainment. Together, our organizations reach more than 1 billion TV households in approximately 180 countries, and we organize more than 350 live events year-round, attracting over one million fans. TKO is majority owned by Endeavor Group Holdings, Inc. (NYSE: EDR), a global sports and entertainment company.
About UFC®
UFC® is the world’s premier mixed martial arts organization (MMA), with more than 700 million fans and 228 million social media followers. The organization produces more than 40 live events annually in some of the most prestigious arenas around the world, while broadcasting to over 900 million TV households across more than 170 countries. UFC’s athlete roster features the world’s best MMA athletes representing more than 80 countries. The organization’s digital offerings include UFC FIGHT PASS®, one of the world’s leading streaming services for combat sports. UFC is part of TKO Group Holdings (NYSE: TKO), and is headquartered in Las Vegas, Nevada. For more information, visit UFC.com and follow UFC at Facebook.com/UFC, Twitter, Snapchat, Instagram and TikTok: @UFC.
About WWE®
WWE, part of TKO Group Holdings (NYSE: TKO), is an integrated media organization and the recognized global leader in sports entertainment. The company consists of a portfolio of businesses that create and deliver original content 52 weeks a year to a global audience. WWE is committed to family-friendly entertainment on its television programming, premium live events, digital media, and publishing platforms. WWE’s TV-PG programming can be seen in more than 1 billion homes worldwide in 25 languages through world-class distribution partners including NBCUniversal, FOX Sports, TNT Sport, Sony India and Rogers. The award-winning WWE Network includes all premium live events, scheduled programming and a massive video-on-demand library and is currently available in more than 180 countries. In the United States, NBCUniversal’s streaming service, Peacock, is the exclusive home to WWE Network. Additional information on WWE can be found at wwe.com and corporate.wwe.com.
What Is SEO?
SEO stands for “search engine optimization.” In simple terms, SEO means the process of improving your website to increase its visibility in Google, Microsoft Bing, and other search engines whenever people search for:
Products you sell.
Services you provide.
Information on topics in which you have deep expertise and/or experience.
The better visibility your pages have in search results, the more likely you are to be found and clicked on. Ultimately, the goal of search engine optimization is to help attract website visitors who will become customers, clients or an audience that keeps coming back.
What you’ll learn in this guide:
How SEO differs from SEM and PPC
Why SEO is important
SEO types and specializations
How SEO works
How to learn SEO
How is SEO different from SEM and PPC?
SEM and PPC are two other common terms you will read about a lot here on Search Engine Land and hear about in the larger search marketing community.
Read on to learn more about both of these terms and how they’re related to SEO.
SEO vs. SEM
SEM stands for search engine marketing – or, as it is more commonly known, search marketing.
Search marketing is a type of digital marketing. It is an umbrella term for the combination of SEO and PPC activities meant to drive traffic via organic search and paid search.
Put simply, search marketing is the process of gaining traffic and visibility from search engines through both paid and unpaid efforts.
So how do SEO and SEM differ? Technically they aren’t different – SEO is simply one-half of SEM:
SEO = driving organic traffic from search engines.
SEM = driving organic and paid traffic from search engines.
Now, this is where things get a bit confusing.
Today, many people use SEM interchangeably with PPC (which we’ll talk about in the next section).
This idea seems to undercut SEO. However, SEO is marketing, just like PPC is marketing.
Here’s the best way to think about SEO and SEM:
Imagine SEM is a coin. SEO is one side of that coin. PPC is on the flip side.
SEO vs. PPC
PPC stands for pay-per-click – a type of digital marketing where advertisers are charged whenever one of their ads gets clicked on.
Basically, advertisers bid on specific keywords or phrases that they want their ads to appear for in the search engine results. When a user searches for one of those keywords or phrases, the advertiser’s ad will appear among the top results.
So again, if we think of search marketing as a coin, SEO and PPC are two sides of the same coin – SEO is the unpaid side, PPC is the paid side.
Another key point: it’s important never to think of it as “SEO vs. PPC” (i.e., which one is better) because these are complementary channels. It’s not an either-or question – always choose both (as long as your budget allows it).
As we mentioned before, the terms SEM and PPC are used within the industry interchangeably. However, that isn’t the case here on Search Engine Land.
Whenever we mention “SEM,” it will be because we’re referring to both SEO (organic search) and PPC (paid search).
If you’re curious about the history behind how “SEM” came to mean “PPC” at the exclusion of SEO, you can dig deeper into these articles:
How Wikipedia Turned PPC / Paid Search Into SEM
Does SEM = SEO + CPC Still Add Up?
Why is SEO important?
SEO is a critical marketing channel. First, and foremost: organic search delivers 53% of all website traffic.
That’s one big reason why the global SEO industry is forecast to reach a staggering $122.11 billion by 2028. SEO drives real business results for brands, businesses and organizations of all sizes.
Whenever people want to go somewhere, do something, find information, research or buy a product/service – their journey typically begins with a search.
But today, search is incredibly fragmented. Users may search on traditional web search engines (e.g., Google, Microsoft Bing), social platforms (e.g., YouTube, TikTok) or retailer websites (e.g., Amazon).
In fact, 61% of U.S. online shoppers start their product search on Amazon, compared to 49% who start on a search engine like Google. Also of note from that same research:
32% start on Walmart.com.
20% start on YouTube.
19% start on Facebook.
15% start on Instagram.
11% start on TikTok.
Trillions of searches are conducted every year. Search is often the primary source of traffic for websites, which makes it essential to be “search engine friendly” on any platform where people can search for your brand or business.
What this all means is that improving your visibility, and ranking higher in search results than your competition, can positively impact your bottom line,
SEO is also incredibly important because the search engine results pages (or SERPs) are super competitive – filled with search features (and PPC ads). SERP features include:
Knowledge panels.
Featured snippets.
Maps.
Images.
Videos.
Top stories (news).
People Also Ask.
Carousels.
Another reason SEO is critical for brands and businesses: unlike other marketing channels, good SEO work is sustainable. When a paid campaign ends, so does the traffic. Traffic from social media traffic is at best unreliable – and a fraction of what it once was.
SEO is the foundation of holistic marketing, where everything your company does matters. Once you understand what your users want, you can then implement that knowledge across your:
Campaigns (paid and organic).
Website content.
Social media properties.
SEO is a channel that drives the traffic you need to achieve key business goals (e.g., conversions, visits, sales). It also builds trust – a website that ranks well is generally regarded as authoritative or trustworthy, which are key elements Google wants to reward with better rankings.
Types of SEO
There are three types of SEO:
Technical SEO: Optimizing the technical aspects of a website.
On-site SEO: Optimizing the content on a website for users and search engines.
Off-site SEO: Creating brand assets (e.g., people, marks, values, vision, slogans, catchphrases, colors) and doing things that will ultimately enhance brand awareness and recognition (i.e., demonstrating and growing its expertise, authority and trustworthiness) and demand generation.
You maintain 100% control over content and technical optimizations. That’s not always true with off-site (you can’t control links from other sites or if platforms you rely on end up shutting down or making a major change), but those activities are still a key part of this SEO trinity of success.
Imagine SEO as a sports team. You need both a strong offense and defense to win – and you need fans (a.k.a., an audience). Think of technical optimization as your defense, content optimization as your offense, and off-site optimization as ways to attract, engage and retain a loyal fanbase.
Technical optimization
Optimizing the technical elements of a website is crucial and fundamental for SEO success.
It all starts with architecture – creating a website that can be crawled and indexed by search engines. As Gary Illyes, Google’s trends analyst, once put it in a Reddit AMA: “MAKE THAT DAMN SITE CRAWLABLE.”
You want to make it easy for search engines to discover and access all of the content on your pages (i.e., text, images, videos). What technical elements matter here: URL structure, navigation, internal linking, and more.
Experience is also a critical element of technical optimization. Search engines stress the importance of pages that load quickly and provide a good user experience. Elements such as Core Web Vitals, mobile-friendliness and usability, HTTPS, and avoiding intrusive interstitials all matter in technical SEO.
Another area of technical optimization is structured data (a.k.a., schema). Adding this code to your website can help search engines better understand your content and enhance your appearance in the search results.
Plus, web hosting services, CMS (content management system) and site security all play a role in SEO.
Content optimization
In SEO, your content needs to be optimized for two primary audiences: people and search engines. What this means is that you optimize the content your audience will see (what’s actually on the page) as well as what search engines will see (the code).
The goal, always, is to publish helpful, high-quality content. You can do this through a combination of understanding your audience’s wants and needs, data and guidance provided by Google.
When optimizing content for people, you should make sure it:
Covers relevant topics with which you have experience or expertise.
Includes keywords people would use to find the content.
Is unique or original.
Is well-written and free of grammatical and spelling errors.
Is up to date, containing accurate information.
Includes multimedia (e.g., images, videos).
Is better than your SERP competitors.
Is readable – structured to make it easy for people to understand the information you’re sharing (think: subheadings, paragraph length, use bolding/italics, ordered/unordered lists, reading level, etc.).
For search engines, some key content elements to optimize for are:
Title tags
Meta description
Header tags (H1-H6)
Image alt text
Open graph and Twitter Cards metadata
Off-site optimization
There are several activities that may not be “SEO” in the strictest sense, but nonetheless can align with and help contribute indirectly to SEO success.
Link building (the process of acquiring links to a website) is the activity most associated with off-site SEO. There can be great benefits (e.g., rankings, traffic) from getting a diverse number of links pointing at your website from relevant, authoritative, trusted websites. Link quality beats link quantity – and a large quantity of quality links is the goal.
And how do you get those links? There are a variety of website promotion methods that synergize with SEO efforts. These include:
Brand building and brand marketing: Techniques designed to boost recognition and reputation.
PR: Public relations techniques designed to earn editorially-given links.
Content marketing: Some popular forms include creating videos, ebooks, research studies, podcasts (or being a guest on other podcasts) and guest posting (or guest blogging).
Social media marketing and optimization: Claim your brand’s handle on any and all relevant platforms, optimize it fully and share relevant content.
Listing management: Claiming, verifying and optimizing the information on any platforms where information about your company or website may be listed and found by searchers (e.g., directories, review sites, wikis).
Ratings and reviews: Getting them, monitoring them and responding to them.
Generally, when talking about off-site, you’re talking about activities that are not going to directly impact your ability to rank from a purely technical standpoint.
However, again, everything your brand does matters. You want your brand to be found anywhere people may search for you. As such, some people have tried to rebrand “search engine optimization” to actually mean “search experience optimization” or “search everywhere optimization.”
SEO specialties
Search engine optimization also has a few subgenres. Each of these specialty areas is different from “regular SEO” in its own way, generally requiring additional tactics and presenting different challenges.
Five such SEO specialties include:
Ecommerce SEO: Additional SEO elements include optimizing category pages, product pages, faceted navigation, internal linking structures, product images, product reviews, schema and more.
Enterprise SEO: This is SEO on a massive scale. Typically this means dealing with a website (or multiple websites/brands) with 1 million+ pages – or it may be based on the size of the organization (typically those making millions or billions in revenue per year). Doing enterprise also typically means delays trying to get SEO changes implemented by the dev team, as well as the involvement of multiple stakeholders.
International SEO: This is global SEO for international businesses – doing SEO for multiregional or multilingual websites – and optimizing for international search engines such as Baidu or Naver.
Local SEO: Here, the goal is to optimize websites for visibility in local organic search engine results by managing and obtaining reviews and business listings, among others.
News SEO: With news, speed is of utmost importance – specifically making sure you get into Google’s index as quickly as possible and appear in places such as Google Discover, Google’s Top Stories and Google News. There’s a need to understand best practices for paywalls, section pages, news-specific structured data, and more.
How does SEO work?
If you found this page via Google search, you likely searched Google for [what is seo] or [seo].
This guide is published on Search Engine Land, an authoritative website with great expertise on and experience in the topic of SEO (we’ve been covering all SEO changes, big and small since 2006).
Originally published in 2010, our “what is SEO” page has earned a whopping 324,203 links.
Put simply, these factors (and others) have helped this guide earn a good reputation with search engines, which has helped it rank in Position 1 for years. It has accumulated signals that demonstrate it is authoritative and trustworthy – and therefore deserves to rank when someone searches for SEO.
But let’s look at SEO more broadly. As a whole, SEO really works through a combination of:
People: The person or team responsible for doing or ensuring that the strategic, tactical and operational SEO work is completed.
Processes: The actions taken to make the work more efficient.
Technology: The platforms and tools used.
Activities: The end product, or output.
Many other things factor into how SEO works. What follows is a high-level look at the most important knowledge and process elements.
Six critical areas, in combination, make SEO work:
1. Understanding how search engines work
Simply, if you want people to find your business via search – on any platform – you need to understand the technical processes behind how the engine works – and then make sure you are providing all the right “signals” to influence that visibility.
When talking about traditional web search engines like Google, there are four separate stages of search:
Crawling: Search engines use crawlers to discover pages on the web by following links and using sitemaps.
Rendering: Search engines generate how the page will look using HTML, JavaScript and CSS information.
Indexing: Search engines analyze the content and metadata of the pages it has discovered and add them to a database (though there’s no guarantee every page on your website will be indexed).
Ranking: Complex algorithms look at a variety of signals to determine whether a page is relevant and of high-enough quality to show when searchers enter a query.
But optimizing for Google search is different from optimizing for search other platforms like YouTube or Amazon.
Let’s take Facebook, for example, where factors such as engagement (Likes, comments, shares, etc.) and who people are connected to matter. Then, on Twitter, signals like recency, interactions, or the author’s credibility are important.
And further complicating things: search engines have added machine learning elements in order to surface content – making it even harder to say “this” or “that” resulted in better or worse performance.
2. Researching
Research is a key part of SEO. Some forms of research that will improve SEO performance include:
Audience research: It’s important to understand your target audience or market. Who are they (i.e., their demographics and psychographics)? What are their pain points? What questions do they have that you can answer?
Keyword research: This process helps you identify and incorporate relevant and valuable search terms people use into your pages – and understand how much demand and competition there is to rank for these keywords.
Competitor research: What are your competitors doing? What are their strengths and weaknesses? What types of content are they publishing?
Brand/business/client research: What are their goals – and how can SEO help them achieve those goals?
Website research: A variety of SEO audits can uncover opportunities and issues on a website that are preventing success in organic search. Some audits to consider: technical SEO, content, link profile and E-E-A-T.
SERP analysis: This will help you understand the search intent for a given query (e.g., is it commercial, transactional, informational or navigational) and create content that is more likely to earn rankings or visibility.
3. Planning
An SEO strategy is your long-term action plan. You need to set goals – and a plan for how you will reach them.
Think of it your SEO strategy as a roadmap. The path you take likely will change and evolve over time – but the destination should remain clear and unchanged.
Your SEO plan may include things such as:
Setting goals (e.g., OKRs, SMART) and expectations (i.e., timelines/milestones).
Defining and aligning meaningful KPIs and metrics.
Deciding how projects will be created and implemented (internal, external or a mix).
Coordinating and communicating with internal and external stakeholders.
Choosing and implementing tools/technology.
Hiring, training and structuring a team.
Setting a budget.
Measuring and reporting on results.
Documenting the strategy and process.
4. Creating and implementing
Once all the research is done, it’s time to turn ideas into action. That means:
Creating new content: Advising your content team on what content needs to be created.
Recommending or implementing changes or enhancements to existing pages: This could include updating and improving the content, adding internal links, incorporating keywords/topics/entities, or identifying other ways to optimize it further.
Removing old, outdated or low-quality content: The types of content that aren’t ranking well, driving converting traffic or helping you achieve your SEO goals.
5. Monitoring and maintaining
You need to know when something goes wrong or breaks on your website. Monitoring is critical.
You need to know if traffic drops to a critical page, pages become slow, unresponsive or fall out of the index, your entire website goes offline, links break, or any other number of potential catastrophic issues.
6. Analyzing, assessing and reporting on performance
If you don’t measure SEO, you can’t improve it. To make data-driven decisions about SEO, you’ll need to use:
Website analytics: Set up and use tools (at minimum, free tools such as Google Analytics, Google Search Console and Bing Webmaster Tools) to collect performance data.
Tools and platforms: There are many “all-in-one” platforms (or suites) that offer multiple tools, but you can also choose to use only select SEO tools to track performance on specific tasks. Or, if you have the resources and none of the tools on the market do exactly what you want, you can make your own tools.
After you’ve collected the data, you’ll need to report on progress. You can create reports using software or manually.
Performance reporting should tell a story and be done at meaningful time intervals, typically comparing to previous report periods (e.g., year over year). This will depend on the type of website (typically, this will be monthly, quarterly, or some other interval),
SEO is ongoing
SEO never ends. Search engines, user behavior and your competitors are always changing. Websites change and move (and break) over time. Content gets stale. Your processes should improve and become more efficient.
Bottom line: There’s always something you can be monitoring, testing or improving. Or, as Bruce Clay put it: SEO will only be done when Google stops changing things and all your competition dies.
How to learn SEO
Now that you understand more about what SEO is and how it works – how can you learn more?
Reading (or, if you prefer, watching or listening to) the latest SEO news, research, best practices and other developments should become one of your regular habits, whether it’s daily, weekly or monthly. You should also invest in attending at least one or two events per year.
The expectations and behavior of searchers are constantly evolving, which means algorithms are constantly changing to keep up. That, in combination with new breakthroughs in technology (look no further than the explosive rise of ChatGPT in late 2022 and the sudden addition of generative AI to search results in 2023).
‘Wrestlers’ Is Here to Rip Your Freakin’ Head Off
The new doc series from the creator of Last Chance U and Cheer is an underdog story pulsing with adrenaline.
From the right corner of the ring, an oiled-up baby face enters with a stone-cold glare and a juicy flex. From the left, a sneering heel climbs through the ropes under floodlights, only to be met with jeers and hisses from the darkness of the stands. What happens next isn’t just a fight; it’s a story. It’s Shakespearean drama. It’s bloody theater that also happens to be more true to life than you’d think.
Wrestlers, the new doc series from director Greg Whiteley (Last Chance U, Cheer) and BBC Studios Los Angeles takes you right to the center of the fight. It doesn’t only depict the brawls between ambitious athletes managing their stressful lives off the ring (though watching a rage-fueled fighter and a hardened vet go head-to-head in a violent, hair-pulling tussle is thrilling –– especially when you consider they’re mother and daughter). The fight at the center of the story is even more intense: Legendary wrestler Al Snow is attempting to keep professional wrestling league Ohio Valley Wrestling (OVW) afloat, navigating the brutal waters of mounting debt and the power struggles of new ownership.
The seven-episode series is intimate, emotional, and offers a behind-the-scenes look at the world of professional wrestling, revealing the hardship and sacrifice that goes into creating this highly complex feat of performance art and athleticism.
What is Ohio Valley Wrestling?
OVW is located in Louisville, Kentucky, and once served as a premiere training ground for aspiring pro wrestlers like Brock Lesnar, John Cena, Dave Bautista, The Miz, and Randy Orton. In recent years, OVW has struggled to keep its doors open, prompting Snow to sell a majority stake to a group of local businesses — one of whom is Matt Jones, one of the most popular radio personalities in the state of Kentucky.
Who owns OVW?
The company is currently owned by Al Snow, Matt Jones, and Louisville mayor Craig Greenberg, all of whom are featured in the doc series. Learn more about the Wrestlers cast here.
Who Are the Wrestlers at Ohio Valley Wrestling?
The cast of Wrestlers is comprised of OVW legends like Ca$h Flo, Mr. PEC-tacular, Mahabali Shera, Hollyhood Haley J, and more. To learn more about the babyfaces, heels and bosses at OVW — including their signature moves — check out our Wrestlers cast guide.
Wait, what’s a babyface?
In wrestling, a babyface (also known as a “face”) is a heroic “good guy” or fan favorite. Typically, they’ll play it fair in the ring and avoid cheating or dirty manuevers. The babyfaces in Wrestlers include Ca$h Flo and the Amazing Maria James. The babyfaces perform relative to the heels in any given match, and sometimes wrestlers shift between the two identities, depending on their narrative arc.
So what’s a heel?
Simply put, a heel is a villain — a bad boy, a nasty girl, or anyone who fights dirty in the ring. The heels in Wrestlers include Hollyhood Haley J and Freya the Slaya.
“In wrestling, you’re going to do the same things you do when you tell any story and have a protagonist and an antagonist,” Al Snow told Tudum. “We've got to explain to the audience what the context of the story is, [and help them] understand the challenge that's facing our protagonist, and what the antagonists are trying to prevent.”
In other words: If nothing else, wrestling is a story of good versus evil — and who prevails depends on the day.
Watch Wrestlers on Netflix now.
Calvin's Corner: 'Ya...Nothing to See Here' Calvin Quips in Regard to Slew of Crypto Murders
'Ya...Nothing to See Here' Calvin Quips in Regard to Slew of Crypto Murders (September 14, 2023)
The following may not be suitable for all readers. Small children should be removed from the room.
Billionaire investor and BSV influencer Calvin Ayre is the latest to chime in on a series of high profile murders that have recently taken place in the world of cryptocurrencies.
And the deaths have been nothing short of gruesome.
"Stuffed down toilets, dismembered in suitcases — crypto has been the common denominator for several gruesome murders and mysterious deaths this year," blares the headline from Coin Telegraph Magazine.
Plumbers in Bulgaria discovered the decomposing remains of 41-year-old United States crypto mogul Christian Peev — suspected to have been battered to death with a dumbbell by a friend out of jealousy.
In Buenos Aries, crypto millionaire Fernando Pérez Algaba's body was discovered chopped up in a suitcase near a river bank by a group of children.
It doesn't end there.
Others involved in the world of cryptocurrencies have been killed in a helicopter crash in France and a fatal stabbing in the U.S. There was also a suspected suicide in South Korea.
Since November of 2022 we've seen ten suspicious deaths of those in the cryptocurrency community, and these are just the cases we know of.
Ken Gamble, the co-founder and executive chairman of financial crime intelligence firm IFW Global, tells the magazine he believes most of these deaths are linked to organized crime making its way into the world of digital currencies.
“What’s happening is that these organized crime groups, particularly the Chinese, have suddenly come into masses of money. They have had more money now than they’ve ever had traditionally,” said Gamble.
“They’re making so much money that it’s become extremely dangerous now […] they have to now reach out to more groups and more people to try and move the money — broadening their money laundering capabilities,” he added.
May be time to beef up the security and might want to avoid pissing off the wrong person as to not end up floating around inside the pipes of someone's toilet.
Calvin Announces New BSV Site and Encourages Consumers to Become Better Educated (September 12, 2023)
"BSVBlockchain.org has a new site up that is the best place in the world to go to learn about this amazing tech now. Still more stuff coming but the Association has done a great job on this already."
The new site can be found here.
The BSV Blockchain is billed as "Reliable open source software, providing the fundamental requirements for enterprise grade blockchain applications."
It focuses on the following three pillars:
Unified Compliance Approach
Explore our unified approach to regulatory compliance, recognizing that existing laws apply to all tokens on blockchain platforms. At BSV, we prioritize adherence to the comprehensive legal framework.
Streamlined Legal Compliance
Learn how BSV integrates legal compliance seamlessly into its blockchain ecosystem. We ensure that all transactions and interactions on our platform adhere to existing property, security, and criminal laws.
Transparent Regulatory Measures
Discover the transparency in our regulatory measures. We provide clear visibility into how we enforce compliance and uphold existing regulations to create a secure and trusted environment for our users.
BSV About to Change the World? (August 31, 2023)
Julian Goddard (the technical product lead at @nChainGlobal) nChain has been working on CBDC solutions for several months, with Goddard playing a part in the company’s projects since last year, he revealed.
One of the company’s guiding principles is flexibility, aware that governments will only integrate blockchain technology if it fits into their existing systems.
“We’re always trying to meet our customers’ requirements first, and where they don’t know [about blockchain nitty-gritty], we try to build our products as flexible as possible.”
As the technical product lead, Goddard is at the forefront of exploring new products that nChain develops. He says the company is currently working on “a new product that’s very exciting and is going to help change the world. It will make a difference to the way things work in the world.”
(Gambling911)
Stake.com Hack Was Done By North Korea, FBI Claims - 10 September, 2023
Last week's shocking hack of online gambling crypto site Stake.com to the tune of $41 million is being blamed on the North Koreans. It's not Stake.com asserting this but rather the FBI.
The massive breach took place on Monday September 4. Gambling911.com was among the first in the gaming space to report the story after it first emerged on a handful of crypto-focused news sites.
For several hours, the Drake-endorsed site suspended all deposits and withdrawals, leaving many users unable to access their funds, but by Monday evening it appeared to be business as usual at the popular wagering site.
The breach was first identified after crypto security firm Cyvers flagged multiple irregular transactions linked to Stake.com’s hot wallet.
The FBI linked the hack to North Korea's state-backed Lazarus Group. Stake.com, we should note, is not currently regulated in the US to take bets. The company, however, is linked to the popular streaming platform Kick.
In a press release shared on Wednesday, the U.S. domestic intelligence agency said that players from the cybercrime syndicate siphoned off funds from the platform to 33 addresses spread across Bitcoin [BTC], Ethereum [ETH], Polygon [MATIC] and Binance Chain [BNB].
Prior to the Stake.com breach, Lazarus was involved in a theft of $60 million from crypto payment providers Alphapo and Coins Paid.
F1 Red Bull Racing related News
'What they’ve done this year is impressive’ – Verstappen names key threat for Red Bull in Suzuka
Championship leader Max Verstappen arrived in Suzuka for the 2023 Japanese Grand Prix looking to put an underwhelming performance for Red Bull in Singapore behind him. But ahead of the action, Verstappen named a surprise team that he expected to cause Red Bull some headaches in Japan.
Fans were shocked in Singapore when both Verstappen and team mate Sergio Perez were unable to progress through to Q3, with Verstappen recovering to P5 in the race from 11th on the grid, as Perez took P8 from 13th.
Asked if he expected a return to Red Bull’s dominant pre-Singapore form this weekend – the team having won the first 14 races of the season on the bounce up until that point – Verstappen replied: “I mean, Singapore is so different to what we will experience here in terms of the way you set up the car, so I’m also not worried that a weekend like that will upset our weekend here.
“It was not our strongest weekend of course, but it’s important that now we just analyse everything and step by step, we’ll get there. But there’s also no real rush.
“[Suzuka] felt very nice on the simulator,” he added, “and normally that’s a good indication when everything comes quite easy, so I hope of course that it’s going to be exactly the same in real life.”
Rivals McLaren’s performance at high-speed tracks in recent races has been impressive, the team having been one of the squads to develop their car the most in 2023. And with Mercedes’ George Russell having earmarked McLaren and particularly Lando Norris as a threat this weekend, Verstappen was asked if they were on his and Red Bull’s radar.
“Honestly, what they have done this year is quite impressive, from where they started to where they are now,” said Verstappen. “So I, for sure, expect them to be strong. But of course, I hope to be ahead!”
Also hoping to be ahead was team mate Perez, who predicted a return to form for Red Bull around Suzuka – on a weekend where the team could clinch the 2023 constructors’ championship.
Asked if Red Bull would be back at the front this weekend, Perez replied: “That’s definitely the target. We still don’t understand fully what went wrong, or what went so wrong, in Singapore. We have some ideas but certainly this track is very different so there should not be a reason why we won’t be strong in Suzuka. Actually this should be one of the best circuits for us.”
AEW WrestleDream PPV update - Broadcast on October 1, 2023
AEW WrestleDream will take place on Sunday, October 1 at the Climate Pledge Arena in Seattle, Washington. The event is being held in honor of NJPW founder Antonio Inoki as it will take place on the one-year anniversary of his passing. AEW President Tony Khan announced WrestleDream during the All In media scrum, noting that this show will honor someone he has always looked up to – pro wrestling’s greatest dreamer. Khan also said he expects NJPW to work with AEW for the show as they are very supportive of the idea, and he’s hopeful more NJPW wrestlers will be added to the show. Below is the current card:
AEW World Tag Team Titles Match
Aussie Open (Kyle Fletcher, Mark Davis) vs. FTR (Dax Harwood, Cash Wheeler) (c)
ROH World Tag Team Titles Match
The Righteous (Vincent, Dutch) vs. AEW World Champion MJF and Adam Cole (c)
Dream Match
NJPW World Television Champion Zack Sabre Jr. vs. Bryan Danielson
The Trump loyalist trying to destroy Hunter Biden
A 27-year-old ex-junior Trump aid, Garrett Ziegler, is at the vanguard of a network of activists who want to take down the president’s son.
When Lunden Roberts needed an expert to help prove that Hunter Biden had the money to keep making substantial child support payments for their 4-year-old daughter, her legal team turned to Garrett Ziegler.
Ziegler doesn’t have a degree in personal finance. He doesn’t personally know the president’s son. But Ziegler, whose first job out of college was working as a low-level aide in the Trump White House, has fashioned himself into a Hunter Biden specialist, compiling personal and financial records from anywhere he can get them. Then, his nonprofit posts them online.
Ziegler claims this cache offers the fullest accounting of Hunter Biden’s life, from his battles with drug addiction to his sexual escapades to his business dealings. “In the Western world, I’m confident that nobody has dug into the American first family more than us,” he said recently on YouTube. “I’ve just become obsessed with studying the family.”
Ziegler, 27, enjoys a following of tens of thousands on social media and the attention of conservative media. He has made himself a chief antagonist of the younger Biden, prompting lawsuits, an Internal Revenue Service complaint and other legal pushback from Hunter Biden’s circle.
Ziegler is at the vanguard of a sprawling network of Biden antagonists, from right-wing media organisations to congressional leaders to MAGA activists, that is focused intensely on the president’s son. They see Hunter Biden’s activities as his father’s biggest political vulnerability, a conclusion reflected in the House GOP’s recent decision to launch an impeachment inquiry.
On Wednesday, Hunter Biden sued Ziegler in federal court in California, alleging that the activist had violated privacy laws and calling him “a zealot who has waged a sustained, unhinged and obsessed campaign against [Hunter Biden] and the entire Biden family for more than two years.”
His biggest project has been mining embarrassing information, including nude photos and videos.
Ziegler served as a staffer for Trump aide Peter Navarro, a hard-liner and election denier, and left the White House in early 2021. He then focused on President Biden’s son, turning his formidable energy to unearthing every detail he could. Ziegler received some of Hunter Biden’s financial records, saying he got them from someone who worked at Biden’s bank. He has delved into Hunter Biden’s business dealings. He even acquired a copy of the diary of Ashley Biden, Hunter’s sister.
His biggest project has been mining embarrassing information, including nude photos and videos, from what appears to be a personal laptop that Hunter Biden left at a repair shop in April 2019. Ziegler said in an interview that he got a hard drive with the purported contents of the laptop from Rudy Giuliani before the January 6, 2021, attack on the US Capitol.
In October 2022, Ziegler announced that the nonprofit he founded, Marco Polo, had published a voluminous report on the laptop, claiming to have unearthed at least 459 criminal or regulatory violations. This claim has not been verified, and Hunter Biden’s team dismisses it as absurd. (The Washington Post has also obtained a hard drive purportedly from the laptop and authenticated some of its contents.)
“We want [our report] to be on coffee tables and bookshelves and be brought out whenever you hear something in the news,” Ziegler said in the interview. On his Telegram page, where he has a following of about 100,000, he added, “We believe that it is the deepest digital colonoscopy ever performed on a sitting US first family.”
Ziegler has a smaller following than some better-known conservative firebrands. But that relatively low profile allows him to unleash inflammatory attacks with less scrutiny, says Jared Holt, who researches extremists for the Institute for Strategic Dialogue think tank.
“There’s an incentive for him to take the extra step and to be just a little more outrageous because it’s the sort of audience he’s cultivated and the part of the ecosystem he fits into,” Holt says.
My focus is never on Hunter Biden; it’s only Hunter’s relationship to Joe.
— Garrett Ziegler
Some of Hunter Biden’s associates worry that Ziegler, with his sometimes-wild theorising combined with an encyclopaedic knowledge of Hunter Biden’s history, will influence the public discussion as well as the House probes of the president’s son.
Ziegler argues that he is filling a vital role by scrutinising the Bidens, particularly because in his view Republicans are not going after Hunter Biden hard enough. “The right wing has totally f---ed up this response,” he says. “It’s been frustrating at the pace. Now we’re seven months in, and I don’t think they’ve subpoenaed Hunter.”
To Democrats, Ziegler and his efforts embody all that is wrong with an era when a single individual can use the internet to humiliate and smear his chosen target. Hunter Biden is a recovering drug addict who has experienced tragedy in his life, they say, and whatever his flaws, they have no bearing on the president’s performance.
Ziegler has “shown himself as a reckless, irresponsible chaos agent,” says Democrat congressman Eric Swalwell. At a hearing in July of the House judiciary committee, Swalwell raised concerns about Ziegler’s postings attacking federal law enforcement agents.
Ziegler contends that his aggressive actions are justified because his ultimate target is not Hunter Biden, but the president. He asserts that Hunter Biden has been involved for decades in shady business deals with China-based firms and the president has known about it, making the senior Biden beholden to China.
“My focus is never on Hunter Biden – it’s only Hunter’s relationship to Joe,” Ziegler says. “My whole obsession with the Bidens starts and ends with Joe. It doesn’t start and end with Hunter.”
Hunter Biden’s legal team has not taken kindly to Ziegler’s efforts. In his recent lawsuit, Hunter alleges that Ziegler and the other members of his nonprofit illegally hacked into portions of Biden’s laptop that were encrypted, saying they ignored demands to cease and desist, an allegation Ziegler disputes. Ziegler says he would not “honour” cease-and-desist requests in this matter because he believes his actions have been lawful.
Last February, Hunter Biden’s attorney Abbe Lowell challenged the tax-exempt status of Marco Polo’s parent company, ICU, writing to the IRS that it “has operated as little more than a thinly disguised political operation to attack the Biden administration and the Biden family.”
Ziegler says his personal criticism of the Bidens does not reflect the official views of his nonprofit.
Hunter Biden’s friend and benefactor Kevin Morris has also sued Ziegler, accusing him of harassment and doxing. After the child support settlement, for example, Ziegler posted the coordinates of Morris’ plane on his public Telegram page and speculated about Morris’ potential travels. Ziegler’s attorneys have argued in court filings that he was exercising his free-speech rights.
In one of his most notable moves, Ziegler joined the contentious child support case between Roberts, an Arkansas resident, and Hunter Biden over their 4-year-old daughter, Navy. Hunter Biden initially contested his paternity of the girl until a DNA test proved the relationship, and he has said he remembers little of his relationship with Roberts because it occurred when he was in a spiral of drug addiction.
Roberts’ lawyers, in seeking to have Ziegler designated an expert witness, contended in a court filing that he was “an expert in Hunter Biden, his life, finances, personal history, financial history, the Biden Companies, and the manner in which the Biden family interacts interpersonally and financially”.
Hunter Biden’s attorneys initially objected to Ziegler’s inclusion – complaining of his lack of relevant expertise, his “background”, and his purported grudge against the Biden family – but ultimately relented. Ziegler gave a deposition, which remains sealed, but he never testified publicly in the case. Hunter Biden and Roberts ultimately reached a settlement on child support.
More relevant to the just-launched impeachment inquiry is Hunter Biden’s business career, a subject that has been of great interest to Ziegler. Hunter Biden has denied wrongdoing in his financial dealings, and there has been no publicly available evidence connecting his father to criminal behaviour.
Federal prosecutors spent more than four years investigating the president’s son, reaching a deal in June for him to plead guilty to two minor tax crimes and admit to the facts of a gun offence. After that deal fell apart, the prosecutor investigating the case was named a special counsel, and he recently obtained an indictment against Hunter Biden on the gun charges, suggesting the case may go to trial.
Beyond the president’s son, Ziegler’s broader messaging often conveys a far-right worldview that derides certain groups.
He promotes posts of inflammatory memes and conspiracy theories. He has shared rhetoric saying that Christians are better than others and that white people have been particularly persecuted. He has promoted photoshopped images of women he dislikes in compromising positions with Hunter Biden.
Before working in the Trump administration, Ziegler had few ties to politics. Aside from his cousin Ron Ziegler, who was press secretary for President Richard M. Nixon, his family mostly worked in agriculture and insurance, he told his hometown newspaper in Illinois in 2018.
He graduated from St Louis University in 2018 with a degree in economics before moving to Washington. He and his wife, Allie, have since moved back to Illinois, where he portrays himself on social media as a devout Lutheran and family man.
In the White House, Ziegler worked for Navarro, one of Trump’s most outspoken advisers, who was recently convicted of contempt of Congress after he declined to cooperate with the House committee investigation into the January 6 attack.
In his White House role, Ziegler wrote reports about Chinese tariffs (which he argued the US should reciprocate), the COVID-19 pandemic (which he argued was planned) and the 2020 election (which he argued was stolen).
Ziegler eventually came to the attention of the January 6 committee, which questioned him about his role in a turbulent White House meeting shortly after the 2020 election that featured a confrontation between some Trump associates who were pushing the president to try to stay in power and a group of aides warning against it.
After being questioned by the committee in July 2022, Ziegler unleashed a 27-minute inflammatory tirade on his Telegram page calling the investigation discriminatory against white people and using sexist slurs to describe female ex-colleagues who cooperated with the committee.
“They see me as a young Christian who they can try to basically scare, right?” Ziegler said. Calling the probe “a Bolshevistic anti-White campaign”, Ziegler added he is “the least racist person that many of you have ever met, by the way”.
He has accused several Biden allies of being Bolsheviks, prompting Jonathan Greenblatt, the chief executive of the Anti-Defamation League, to note that such words are “often used as a code for Jews”. Ziegler rejected any criticism from the group, saying any ADL position is “probably a good indication of what I believe to be the exact opposite case”.
Ziegler also has posted, on his Telegram page, photos of his targets’ daughters wearing bathing suits or partying with friends, sometimes ridiculing the girls’ appearances. In other posts he has shared with his following, women are mocked for being bad drivers or purportedly being biologically unfit for military combat.
Ziegler says his attacks on the women are legitimate, even if they are private citizens, because their public photos are “degenerate”. He says he does not agree with every post he shares with his followers; he was joking when he forwarded memes about women’s driving skills, he says, but he does not believe women should serve on the military front lines.
Ziegler has also shared posts by white supremacist Nick Fuentes and claimed there is a “war on whites”. Liberal activist David Brock, whose group Facts First USA has tracked Ziegler’s online comments, says he has warned legislators, journalists and others about Ziegler’s rhetoric, urging them to keep their distance. “He doesn’t belong within 100 miles of Congress or a courtroom,” Brock says.
Ziegler says he does not agree with all of Fuentes’ views, but he does believe white people are unfairly persecuted, citing government efforts to seek a more diverse workforce. He is a “Christian and a nationalist”, he says, but not a Christian nationalist.
House Republicans are ramping up their efforts to investigate Hunter Biden, culminating in an instruction by Republican House Speaker Kevin McCarthy to House committees on September 12 to open an impeachment inquiry into President Biden centred on his son’s business dealings, some of the same areas Ziegler has probed.
Ziegler says he has made contacts within GOP congressional offices and given them copies of the report on Hunter Biden’s laptop, though he declined to name specific legislators.
Some members of Congress have publicly mentioned the report. Senator Ron Johnson from Wisconsin said in an interview with NBC that “you ought to read the Marco Polo report where they detail all kinds of potential crimes”. Congressman James Comer of Kentucky told Newsmax the “positive thing” about the report is its inclusion of banking records.
“The response has been obviously grateful” from Republicans receiving the report, Ziegler says. “Sometimes they’ve had an aversion to hearing me out – and then once they looked at our work or site ... ”.
At one recent congressional hearing, after Congresswoman Marjorie Taylor Greene displayed what appeared to be nude photos of Hunter Biden, Democrats noted that she had displayed the photos in the same order and with similar redactions as in the Marco Polo report. Greene’s office did not respond when asked if the photos came from Ziegler or his nonprofit, but he suggests they did.
“Some of our screenshots in the report were utilised,” Ziegler says. “So I’ve been somewhat pleased.”
(AFR)
Roman Reigns on the cover of Variety
YOUR Tribal Chief has allowed Sean O’Malley a rental property on the Island of Relevancy, as the UFC phemoenon joins Roman Reigns on the cover of Variety. The headline article covers the WWE- UFC merger as TKO Group Holdings ushers in a new era for both World Wrestling Entertainment and the Ultimate Fighting Championship.
(Heyman Hustle)
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