David Ellison’s media company appears to be girding for a big battle with California Atty. Gen. Rob Bonta and fellow state attorneys general who may team up to file a lawsuit aiming to block Paramount’s proposed $111-billion takeover of Warner Bros. Discovery.
Last week, Paramount hired powerhouse antitrust attorney Jeffrey Kessler to help defend its proposed takeover of Warner, which owns CNN, TBS, HBO and the prestigious Burbank film and television studios.
Now Kessler may be on the opposite side, potentially going after the government to help Paramount build a behemoth that would include CNN and CBS News, two historic film studios and four streaming services.
The states have not indicated whether they plan to go to court to block Paramount’s takeover of Warner, but Bonta has said Ellison’s proposed consolidation, which is widely expected to lead to layoffs, is problematic.
Paramount declined Tuesday to discuss Kessler’s remit. Kessler was not immediately available for comment.
Hiring an attorney who is more commonly aligned against big companies prompted at least one observer to postulate that Paramount could be angling to remove a big name from the legal chessboard to prevent him from joining the other side, in the vein of TV mob boss Tony Soprano.
During the HBO show’s fifth season, Soprano spent months consulting with top divorce attorneys, creating a potential conflict of interest that prevented those lawyers from representing his wife Carmela in the dispute.
Attorney Jeffrey Kessler arrives at federal court in Oakland in a file photo.
(Noah Berger/Associated Press)
Kessler also knows the ins and outs of a courtroom as well as antitrust settlements, which could benefit Paramount as it seeks to avoid a bruising court challenge.
More than 5,000 artists and other entertainment industry workers already have signed an open letter that urges Bonta to take action to upend the Paramount and Warner Bros. deal.
Ellison and his team have vowed to make $6 billion in cuts following the merger. The combined company would have to contend with $79 billion in deal debt.
Trump favors Paramount’s takeover of CNN and other Warner properties.
Paramount Chief Legal Officer Makan Delrahim has made several savvy tactical moves since joining Ellison’s Melrose Avenue firm last fall.
Delrahim, who was Trump’s antitrust chief during his first term, filed paperwork to win the U.S. Justice Department’s blessing in December — soon after Netflix had clinched the bidding war for Warner Bros.
Netflix ultimately bowed out of the auction in late February. And Delrahim’s move gave Ellison’s Paramount a head start in the regulatory approval process.
The company is waiting for confirmation that the Justice Department will consent to its Warner Bros. purchase. It is separately responding to issues raised by regulators in Europe.
It’s not clear when Bonta or his fellow attorneys general might decide whether to bring a case against Paramount, although the deadline is approaching because Ellison wants to get his deal wrapped up by September.
Attorneys general also could opt for negotiating a settlement agreement with Paramount, which might be willing to bend to concessions to get the deal approved.
Bonta is leading a challenge against another big merger — TV station owner Nexstar Media Group’s $6.2-billion purchase of rival company Tegna Inc. Nexstar owns KTLA-TV Channel 5 in Los Angeles and more than 100 other stations.
Nexstar initially argued that Bonta’s action came too late — after Nexstar had gained its federal approvals for the deal. Nexstar also was in the process of consolidating Tegna’s operations and top Tegna executives had cashed out.
The move backfired on Nexstar as a federal judge in Northern California issued a preliminary injunction, ordering Nexstar to halt the Tegna consolidation.
U.S. District Judge Troy Nunley ruled Tegna must be managed as a separate company pending the outcome of a trial.
On Tuesday, Tegna announced that it hired a former Fox TV station executive, Patrick Paolini, as its chief executive. Beginning next week, Paolini will be responsible for “Tegna’s daily operations, revenue-generating business strategies, local journalism and production, and growth initiatives,” according to a corporate statement.
Paolini will report to Tegna’s board — not Nexstar.
Lupa Systems, the media and tech holding company owned by James Murdoch, is set to acquire nearly half of Vox Media.
As part of the deal, Murdoch’s company will own Vox Media’s podcast network, Vox.com and New York Magazine, once an asset of his father, industry giant Rupert Murdoch. Terms of the deal were not disclosed, but the price tag was reportedly over $300 million, the New York Times reported citing people familiar with the deal. The goal of the investment is to bring “influential journalists, top-rated podcasts, and digital brands with large social footprints” to Lupa and help grow its media portfolio, the company announced Wednesday.
“This acquisition aligns well with our existing holdings and investments and reflects both our interest in the forward edge of culture and our deep commitment to ambitious journalism and agenda-setting conversations,” Murdoch said in a statement.
The three new assets will function as a subsidiary of Lupa Systems and will keep the name Vox Media. The deal includes New York Magazine’s popular verticals like The Cut, Vulture and Intelligencer, as well as Vox’s most successful podcasts like “Today, Explained” and “Pivot with Kara Swisher and Scott Galloway.” Jim Bankoff, Vox Media’s current CEO, will continue to lead the company.
The other Vox Media properties, which Murdoch did not purchase, include websites like Eater, The Dodo and The Verge. These platforms will be run under an unnamed new company by the current president of Vox Media, Ryan Pauley.
This investment strengthens Lupa Systems’ position in the evolving media landscape. The business has other holdings including the parent company of Tribeca Film Festival, the owner of Art Basel, Robert DeNiro and Jane Rosenthal’s entertainment company Tribeca Enterprises, and Bodhi Tree Systems, an investment platform behind a popular Indian streaming service.
Before the legal blowout, Murdoch previously served as the chief executive of major global media companies like 21st Century Fox and Europe’s Sky Group.
The billionaire told the New York Times that, with this new acquisition, he didn’t want a “daily news business.” He wanted “longer-form, thoughtful journalism that can really speak to the culture.”
Where are the best bakeries to buy celebration cakes? I want to get a cake for one of my college friends — we’ve been friends for 40 years — who is retiring from teaching kindergarten. I’m having a small brunch party for her at a restaurant in Long Beach. It’d be great if the bakery is in Pasadena or on the East Side,but I will travel for awesome cake! She loves chocolate and espresso martinis. — Roberta Tragarz
Looking for things to do in L.A.? Ask us your questions and our expert guides will share highly specific recommendations.
Here’s what we suggest:
Roberta, I think it’s so sweet that you are throwing a retirement party for your longtime friend. In my opinion, no celebration is complete without a good cake and I, too, will drive just about anywhere for one that I think the recipient would love. Here are some bakeshops that might just have “the one.”
With Pasadena being convenient for you, you’re in luck. Times restaurant critic Jenn Harris calls the city a “pastry and dessert destination.” She writes about six stellar new bakeries that have opened within a one-mile radius, including Salted Butter Company, which offers a gorgeous round cake topped with seasonal florals, and Sweet Red Peach, which can create just about any custom cake you can dream up.
Given that your friend loves chocolate, consider buying a cake from Proof Bakery in Atwater Village. The worker-owned cooperative shop used to sell a chocolate espresso cake, which would’ve been perfect because your friend loves espresso martinis. However, they swapped it out for a chocolate blueberry cake with chocolate mascarpone mousse and blueberry compote. Thankfully, it looks just as delicious. And you can still make Proof’s chocolate espresso cake at home.
No L.A. bakeshop has been recommended to me more than SusieCakes. With multiple locations spread across the county including one in Pasadena, the classic bakery makes an array of delightful desserts: old-fashioned chocolate cakes, flourless chocolate cakes, rainbow sprinkle cakes and even a cake flight so you can try all of their signature slices. Former Times food editor Amy Scattergood wrote about SusieCakes, “You can pick the flavor of cake and color of buttercream frosting, get stuff written on top, even order a pretty impressive Barbie cake (they provide the doll; the cake is the dome of her massive skirt).” A “Teacher Barbie” that looks like your friend would be adorable.
Now, this isn’t a traditional cake but hear me out. My good friend Tori Johnson had a cinnamon roll cake at her recent birthday party and I haven’t been able to stop thinking about it since. It was gooey, soft and slathered in a classic tangy cream cheese frosting. Her boyfriend got it from BadAsh Bakes, the viral bakery based in Pasadena best known for its cinnamon rolls, cookies, brownies and layer cakes. You can preorder the cinnamon roll cake, which comes in a classic, red velvet or matcha flavor.
For an eye-catching, avant-garde cake that you won’t find at a traditional bakery or grocery store, consider ordering a custom dessert from Celeste Perkins, the L.A.-born baker who makes “cakes with big personalities, for big personalities,” as Times contributor Tasbeeh Herwees writes in Image. Perkins, who works out of her home kitchen, got her start baking cakes for friends and has since made them for an array of celebrity clients including Tunde Adebimpe (frontman for the band TV on the Radio), Japanese American singer Mitski and British singer Suki Waterhouse. Not only are the cakes yummy, they are photo-worthy.
Now for some rapid-fire picks across L.A.: My colleague Jason Lew recommends Phoenix Bakery in Chinatown, specifically the strawberry cake with sliced almonds. Times Features reporter Lisa Boone also suggests Valerie Confections in Glendale. “I’ve ordered cake from Valerie several times for different occasions and they’re always really special, pretty and so good,” she says. Her favorite is the fallen fruit cake, but the bakery also sells a flourless chocolate almond cake and German chocolate cake. There’s also République, the French-inspired bakery and cafe known for its salted caramel chocolate cake. Finally, you can never go wrong with Porto’s, which sells an array of cakes including chocolate raspberry, Parisian chocolate, mango mousse, strawberry cheesecake and more.
Retiring is such a big deal, so I love to hear that you are celebrating it as such. I hope that these recommendations help you find the perfect cake for your friend. Be sure to send us a photo of the one that you choose. Have a wonderful time!
China will buy ‘at least’ $17bn worth of US agricultural goods annually, the White House says.
Published On 18 May 202618 May 2026
China will buy “at least” $17bn worth of agricultural goods from the United States annually following US President Donald Trump and Chinese leader Xi Jinping’s summit in Beijing, the White House has said.
China will make the purchases through 2028, with the 2026 target applying to the remainder of the year on a proportionate basis, according to a fact sheet released on Sunday.
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The White House said the deal is in addition to China’s commitment to buy at least 87 million metric tonnes of US soya beans, which was made at Trump and Xi’s summit in South Korea in October.
China will also restore market access for US beef by renewing the expired listings of more than 400 production facilities, and resume imports of poultry from states determined by the US Department of Agriculture to be free of avian influenza, according to the fact sheet.
Trump and Xi also agreed to establish two new bodies – the US-China Board of Trade and the US-China Board of Investment – to manage trade and investment between the sides, the White House said.
China has yet to confirm or comment on the White House’s announcement.
The Chinese Embassy in Washington, DC, did not immediately respond to a request for comment.
The White House’s update provides further clarity on the outcome of Trump and Xi’s two-day summit, which was heavy on pageantry and camaraderie but light on concrete agreements.
During their two days of talks in Beijing, Trump and Xi sought greater alignment on economic issues and trade, while largely skirting the sensitive issues of Taiwan and the US-Israel war on Iran.
In a readout after the summit wrapped up on Friday, the White House said the two sides had discussed ways to “enhance economic cooperation”, and that they agreed on the need to keep the Strait of Hormuz open and that Iran “can never have a nuclear weapon.”
Beijing did not explicitly state that Iran should not have nuclear weapons, but stressed the importance of reaching “a settlement on the Iranian nuclear issue and other issues that accommodates the concerns of all parties”.
Neither White House statement contained any mention of Taiwan, the self-governing island that Beijing views as an integral part of its territory.
The omission of any reference to the island – the defence of which Washington is committed to supporting under the 1979 Taiwan Relations Act – came after Xi warned of “clashes and even conflicts” between the superpowers if the issue is not “handled properly”.
After nearly a decade of tit-for-tat economic salvoes between Washington and Beijing, US-Chinese trade is down sharply from its peak.
Their bilateral trade in goods last year came to some $415bn, down from more than $690bn in 2022.
After months of tension over the Iran war, markets finally got something to feel good about. President Trump and Chinese President Xi Jinping met in Beijing on May 14 and agreed the Strait of Hormuz “must remain open,” along with a shared stance that Iran “can never have a nuclear weapon.” Easing tensions in the Middle East usually means one thing for crypto: risk-on sentiment comes back.
That’s why the search for the best crypto to buy now is heating up again. This article looks at three picks worth a closer look while the mood is shifting: Poly Truth ($PTRUE), Meme Punch ($MEPU), and Bittensor (TAO).
Why the Trump-Xi Meeting Matters for Crypto
Crypto pays close attention to global news, and this one is a big deal.
Approximately one-fifth of all oil shipments worldwide pass through the Strait of Hormuz. When it’s in danger, markets become anxious, oil prices increase, and inflation pressure increases. The opposite happens when it’s safe. Money often returns to more volatile investments, such as cryptocurrency.
That is the change that is currently beginning to take shape. The direction has shifted, but the war is still ongoing and the ceasefire is still unstable. Generally speaking, markets are more interested in future trends than current conditions.
Therefore, it makes sense that more buyers are considering cryptocurrency once more. Also, smaller picks usually move first when the mood improves.
Best Crypto to Buy Now in 2026
While sentiment is changing, these three choices are worth a closer look. One is a well-known AI infrastructure project. The other two, which have more potential for growth and lower entry costs, are still in presale.
1. Poly Truth ($PTRUE)
Prediction markets are growing fast, but most people still bet on instinct. Poly Truth steps in with a research tool that does the heavy lifting.
Drop in a prediction event, anything from a presidential race to a Champions League final, and the platform scans news, market data, historical records, and social signals. An AI layer checks everything, weighs the patterns, and returns a probability score for each outcome along with the reasoning behind it.
$PTRUE is the access token. Holders get tiered access to the tool, plus staking rewards and a vote on future updates.
The token is in Stage 1 of its presale at $0.001190, with the next price step at $0.001216. Audits are done with SolidProof and Coinsult, team tokens are locked, and 40% of supply goes to presale buyers.
The majority of meme coins do nothing more than sit in your wallet and wait for a pump. That is changed by Meme Punch. In this play-to-earn battle game, you take action.
Five iconic meme characters, Pepe, Doge, Floki, Brett, and Pudgy Penguin, are dressed in medieval armor and spawned into a PvP arena. Pick your knight, fight other players, climb the leaderboard, and earn $MEPU as rewards. The token also unlocks weapons, skins, and special powers inside the game.
$MEPU runs on Ethereum, with a total supply of 10 billion. The presale takes 40%, with another 14.5% set aside for staking and 9.5% for in-game rewards. Payment options are ETH, BNB, SOL, USDT, USDC, and card.
Check memepunch.io for the current presale price and staking APY.
3. Bittensor (TAO)
Bittensor runs a decentralized network where machine learning models compete to provide AI services, with TAO tokens rewarding the best performers. The network is split into subnets, each one a marketplace for a specific type of AI task.
The price action tells a useful story. TAO spent most of April trading sideways between $240 and $255 while markets digested the Iran war and the fragile ceasefire. Then, in early May, the breakout came. TAO climbed to around $326 on May 10 and now sits near $306, up over 20% in a month.
It’s a clear example of what happens when tensions decrease. Capital flows back into infrastructure plays, and AI is one of the strongest narratives going.
What to Watch Next
The mood can shift fast, so a few things are worth keeping an eye on:
The Israel-Lebanon talks: New peace talks kicked off in Washington this week. A real deal would push sentiment further into risk-on territory.
The ceasefire holding: The Iran ceasefire has been in place since April 8, but it’s fragile. Any breakdown would pull money back to safety fast.
US-China follow-through: The Trump-Xi meeting was a positive signal, but the real test is what gets done in the weeks after.
ETF flows: Spot ETFs for AI tokens like TAO are pending. Approvals or strong inflows would add fuel to the AI narrative.
Conclusion
When sentiment shifts, crypto usually feels it first. The Trump-Xi meeting isn’t a fix for everything happening in the region, but it’s the kind of news that turns the mood around, and the market’s already starting to react.
If you’re looking at the best crypto to buy now, the three picks above cover different angles. Poly Truth ($PTRUE) for the AI tool with a real use case. Meme Punch ($MEPU) for the meme coin you can actually play. Bittensor (TAO) for the established AI infrastructure pick is already moving on the news.
Take a look, read up on each, and only put in what you’re okay risking.
FAQ’s
Which cryptocurrency is best to invest now?
It depends on your risk appetite. Bittensor (TAO) is the safer AI pick, while presales like Poly Truth ($PTRUE) and Meme Punch ($MEPU) offer more upside for those willing to take on early-stage risk.
What is the best buy in crypto right now?
Sentiment is shifting back to risk-on after the Trump-Xi meeting, which usually helps small-cap tokens move first. $PTRUE and $MEPU are two presales catching attention while TAO leads on the AI side.
What crypto under $1 will explode?
No one can guarantee explosions, but presale tokens priced well under a cent, like $PTRUE and $MEPU, have the most room to run if the market keeps warming up.
Which crypto has 1000x potential?
1000x runs almost always come from tiny market caps with a real product behind them, which is why presales like $PTRUE are where most of those bets land, while TAO offers steadier exposure to the same AI story.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. ModernDiplomacy.eu is not a licensed crypto-asset service provider under EU regulation (MiCA). Cryptocurrencies are highly volatile and involve significant risk. Always conduct your own research and consult a licensed advisor before making any investment decisions.
Dogecoin is trading near $0.116 in May 2026, with a market cap of around $17.9 billion and a 24-hour volume of over $2.37 billion.
The latest Dogecoin price prediction data shows room for a move toward the $0.13 to $0.25 range in 2026, but DOGE still needs stronger meme coin demand before a larger rally becomes realistic.
For traders looking beyond older meme coins, Meme Punch and Poly Truth add two newer presale stories through P2E gaming and prediction market data.
This article breaks down DOGE’s 2026 outlook, the main rally drivers, and how $MEPU and $PTRUE compare with Dogecoin’s meme coin setup.
How Dogecoin Is Performing in May 2026
Dogecoin still has one of the strongest brands in crypto. It ranks inside the top 10 by market value, and CoinGecko shows DOGE up 22.2% over 30 days, which keeps it active on trader watchlists.
Daily volume also supports the short-term case. DOGE’s 24-hour trading volume was about $2.37 billion, which shows a recent rise in market activity and gives traders enough liquidity for short-term moves.
However, DOGE is no longer a small coin. A market cap near $18 billion means each major price move needs real buying pressure, not only social media noise.
Dogecoin Price Prediction for 2026
CoinCodex gives DOGE a short-term target of $0.1302 for one month and $0.1491 for three months. Its near-term table also shows a 5-day target around $0.1142, which keeps DOGE close to its current range before any stronger move develops.
Changelly gives a wider full-year 2026 range. Its analysis places DOGE between $0.0957 and $0.142, with an average price near $0.119. For May 2026, Changelly estimates a range between $0.108 and $0.131, with an average near $0.120.
Binance’s prediction page takes a different approach because its figures are based on user input and shown on an “as is” basis. The page also states that the data does not represent Binance’s own view or advice, which makes it useful as crowd input rather than a firm forecast.
Can DOGE Stay a Top Meme Coin in 2026?
Dogecoin still has the main ingredients that keep meme coins alive. It has deep liquidity, wide exchange access, a long trading history, and a community that can bring quick attention during bullish periods.
The harder part is growth from here. DOGE already has a large market cap, so a 2x or 3x move requires much more capital than it would for a smaller meme coin or early-stage presale.
The $0.13 to $0.15 zone is the first area to watch because CoinCodex’s one-month and three-month targets sit near that range. A cleaner move above those levels would make the 2026 outlook stronger.
What Could Push Dogecoin Higher?
Dogecoin’s next rally needs more than past fame. DOGE can still move sharply, but only if volume, social demand, and wider market strength return together.
The strongest DOGE drivers are easy to track.
Bitcoin strength can bring traders back into higher-risk crypto.
Meme coin rotation can lift DOGE, SHIB, PEPE, and other large meme assets.
Higher daily volume can confirm that buyers are returning.
Social attention can turn DOGE into a retail-led trade again.
Clean breakouts above near-term resistance can make short-term targets more realistic.
If those signals line up, DOGE can stay one of the main meme coins to watch in 2026. Without them, the price may stay close to the current forecast range.
Why New Meme Coin Presales Are Getting More Attention
Dogecoin gives traders liquidity and recognition, but newer presales can move on smaller starting bases. They also have more room to shape a fresh story before wider market exposure.
Meme Punch and Poly Truth show two different directions for presale demand. Meme Punch builds around meme coin gaming, while Poly Truth focuses on prediction market intelligence.
Meme Punch ($MEPU)
Meme Punch turns meme coin culture into a medieval P2E battle arena. Players choose meme-inspired knights, fight rivals, climb the leaderboard, and earn $MEPU rewards.
The game loop is easy to scan.
Players choose from meme fighters such as Pepe, Doge, Floki, Brett, and Pudgy Penguin.
Arena battles decide leaderboard progress.
Winners earn $MEPU rewards.
$MEPU can be used for weapons, skins, and special powers.
Staking adds another token use inside the project.
$MEPU has a total supply of 10 billion tokens.
Presale: 40%
DEX/CEX liquidity: 12%
Marketing: 16.5%
Game rewards: 9.5%
Staking: 14.5%
Project funds: 7.5%
Poly Truth ($PTRUE)
Poly Truth gives the presale market a data-led angle through prediction market intelligence. The project uses AI-powered analysis to help users read active events across crypto, sports, politics, and other markets.
Its system has three parts.
The Runners collect data from active prediction events across the internet.
The Starlet compares sources, finds patterns, and calculates probability scores.
The Presenter turns the analysis into event reports that show which outcome has stronger data support.
$PTRUE has a total supply of 11.5 billion tokens.
Presale: 40%
Liquidity pool: 17%
Development: 13%
Team: 10%
Staking rewards: 10%
Marketing: 8%
Community and airdrops: 2%
DOGE vs. $MEPU and $PTRUE
Dogecoin is still the established meme coin in this group. It has the liquidity and name recognition that smaller tokens usually need years to build.
Meme Punch offers a more active meme coin angle because $MEPU is tied to gameplay, battle rewards, upgrades, and staking. Poly Truth moves away from meme culture and gives traders a presale tied to data, prediction markets, and event analysis.
The comparison is simple.
DOGE gives traders an established meme coin with deep liquidity.
$MEPU adds P2E gaming to meme coin demand.
$PTRUE adds prediction market data to the presale market.
DOGE may stay the safer meme coin benchmark because it already trades across major markets. $MEPU and $PTRUE offer earlier-stage exposure to newer stories that are still building attention.
Is DOGE Still One of the Best Meme Coins to Buy Now?
The Dogecoin price prediction for 2026 still supports a measured bullish case, but it does not point to an easy return to old highs.
CoinCodex’s one-month and three-month targets keep DOGE in the $0.13 to $0.15 area, while Changelly’s full-year range stays between $0.0957 and $0.142.
DOGE still has the liquidity, brand power, and community needed to lead another meme coin move. The stronger rally case needs rising volume, better market sentiment, and a broader meme coin rotation.
For traders comparing old and new meme coin stories, Dogecoin still holds the benchmark spot. Meme Punch brings a playable meme coin model through $MEPU, while Poly Truth adds a different presale route through $PTRUE and prediction market intelligence.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. ModernDiplomacy.eu is not a licensed crypto-asset service provider under EU regulation (MiCA). Cryptocurrencies are highly volatile and involve significant risk. Always conduct your own research and consult a licensed advisor before making any investment decisions.
Holidaymakers will be able to buy a Greggs sausage roll at Tenerife South airport from later this month when the baker opens its only international outlet. Greggs last operated shops abroad in Belgium in 2008, but said Tenerife was “the ideal location to test spreading our wings in an overseas setting”.
While the exact date for the opening is not yet set, Greggs said the shop in the international departures area of the airport will stock a range of bakes, rolls and sweet treats, as well as freshly-made sandwiches. A Spanish omelette roll will be available as part of the breakfast menu alongside freshly squeezed orange juice, prepared and bottled in-shop daily, “giving customers a refreshing taste of island life”, the baker said.
Tenerife South airport welcomes around 13 million holidaymakers every year, with around 50% flying to and from the UK. Greggs said the location made it the “perfect way to round off a trip without breaking the bank”.
The shop will also offer seating for up to 92 customers. Greggs chief executive Roisin Currie said: “Tenerife South Airport is a hub for millions of UK and international passengers each year, making it the ideal location to test spreading our wings in an overseas setting.
“It’s an exciting milestone for Greggs as we bring a slice of home to the Canaries, and we’re confident our great-value offering will resonate just as well under the Spanish sun as it does on the UK high street.”
The new shop will open in partnership with Lagardere Travel Retail, which operates more than 5,000 stores in airports, railway stations and other locations in over 50 countries worldwide. Javier Cagigal, chief executive of Lagardere Travel Retail Spain and Portugal, said: “We’re delighted to partner with Greggs to bring such a well-loved brand into Tenerife South Airport for the very first time.
“As passengers head home, this new opening gives them a familiar, comforting choice in departures – whether that’s a last treat, a relaxed sit-down moment or something to ease the journey home.”
International military delegates chat with exhibitors next to a FA-50 multirole fighter jet model developed by Korea Aerospace Industries (KAI) at the Defense and Security 2025 exhibition in Nonthaburi, on the outskirts of Bangkok, Thailand. File. Photo by RUNGROJ YONGRIT / EPA
May 4 (Asia Today) — Hanwha Aerospace will acquire additional shares in Korea Aerospace Industries to strengthen cooperation in aviation, space and defense.
Hanwha Aerospace said in a regulatory filing Monday it decided to purchase about 2.96 million additional KAI shares on the open market. The acquisition is valued at up to 500 billion won ($340 million), equivalent to about 2.98% of the company’s equity capital.
The transaction will expand Hanwha Aerospace’s existing stake. The company currently holds about 3.31 million KAI shares. After the additional purchase is completed, its total holdings will rise to about 6.27 million shares, increasing its stake to 6.43%.
The purchase will be made in cash through open-market transactions from this month through December. The final acquisition size may vary depending on market conditions, including share prices.
Hanwha Aerospace said the purpose of the acquisition is to strengthen business cooperation. Industry observers view the move as a strategic step to deepen ties between the two companies in the aerospace and defense sectors.
KAI is South Korea’s leading aerospace company, producing aircraft, satellites and aerospace equipment. It reported 3.7 trillion won ($2.51 billion) in revenue and 187.3 billion won ($127 million) in net income last year.
The investment is expected to help Hanwha Aerospace seek stronger synergies between its businesses in space launch vehicles, aircraft engines and defense systems and KAI’s aircraft and space platform capabilities.
Weekly insights and analysis on the latest developments in military technology, strategy, and foreign policy.
After years of high-tempo operations in the Middle East, the Israeli Air Force is set to get two new fighter squadrons, one each of the F-15IA and the stealthy F-35I Adir. This will bring the total of F-35I squadrons to four and will add a second squadron of F-15IAs. While the numbers involved were not stated, the IAF has recently bolstered its fighter inventory in the form of 25-aircraft squadrons. This is almost certain to be the case here, too, which would provide the service with an additional 25 examples of each type, for an eventual inventory total of 100 F-35Is and 50 F-15IAs.
שתי טייסות קרב חדשות לצה״ל: ועדת השרים להצטיידות אישרה את תכנית משרד הביטחון וצה״ל לרכש שתי טייסות קרב חדשות מסוג F35 ו-F15IA, בהיקף של עשרות מיליארדי ש”ח
The Israeli Ministry of Defense confirmed on its official social media channels that, over the weekend, the country’s Ministerial Committee on Procurement approved its plan to simultaneously procure two new fighter squadrons.
“The scope of the deals is estimated at tens of billions of shekels and includes the integration of the squadrons into the Air Force, comprehensive support, spare parts, and logistics,” the ministry said.
In a statement today, Israeli Prime Minister Benjamin Netanyahu referenced the two new squadrons. He also noted that, as part of Israel’s investment in military independence through domestic production of armaments and defense technology, the country “will develop groundbreaking Israeli-made aircraft.” He provided no further details about this project, although a fighter, along the lines of the failed Lavi, or even more likely, some kind of Collaborative Combat Aircraft (CCA) type drone, is a possibility, as are different types of intelligence, surveillance, and reconnaissance (ISR) platforms. We also know of the existence of at least one secretive Israeli drone, referred to as RA-01 and used for covert missions, and further developments along these lines should not be ruled out. We are trying to get clarity on this aspect of the announcement.
Prime Minister Benjamin Netanyahu:
“Israel is stronger than ever, and Israel must always be significantly stronger than our enemies.
Therefore, I advocate for two principles: Strengthening and independence.
— Prime Minister of Israel (@IsraeliPM) May 3, 2026
Now that the acquisition has been approved by the Ministerial Committee, the Director General of the Ministry of Defense has authorized its procurement delegation in the United States to proceed with signing the deals with U.S. government and military officials “in the near future.”
A pair of IAF F-35A Adir and a single F-15I Ra’am join a U.S. Air Force B-52H Stratofortress bomber during a joint exercise. IAF via X
Neither a delivery timeline nor the likely costs of the deals have been specified.
In a statement, Israeli Minister of Defense Israel Katz explained that the two-squadron procurement is driven by “operational lessons learned from the campaign against Iran [that] require us to accelerate our force buildup.”
An F-35I, apparently seen during Operation Lion’s Roar, armed with external JDAM and AIM-9X Sidewinder. IAF via X
According to Katz, the Israeli campaign against Iran, Operation Lion’s Roar, “again demonstrated the power of the Air Force and its crucial role in safeguarding the security of the State of Israel. The operational lessons learned from this campaign compel us to continue accelerating our force development to ensure the Air Force’s superiority in the decades to come.”
“The procurement of these squadrons is a central part of the ‘Magen Israel’ program, which is designed to ensure the Israel Defense Forces maintains a sustained qualitative edge,” Katz added. “Our mission is clear: to stay one step ahead of our enemies.”
Magen Israel — Israeli Shield in Hebrew — includes other investments, too. As well as the new additional new fighters, it will provide funding for what is described as “a technological leap forward in the development and integration of autonomous flight capabilities, next-generation advanced defense systems, and the establishment of Israeli military superiority — both defensive and offensive — in space.”
The Magen Israel initiative has been approved by Prime Minister Netanyahu and the defense minister and will provide a budget of close to $120 billion over the next 10 years. Some of the funding for the new aircraft will almost certainly come from the United States, which delivers billions of dollars in military funding to Israel each year, largely tied to American weapons. Since October 7, 2023, Washington has surged tens of billions of dollars more, fast-tracking arms to the IDF.
Israeli Prime Minister Benjamin Netanyahu in the cockpit of an F-15 fighter during a visit to an Israeli Air Force base. Photo by GPO via Getty Images
Maj. Gen. (res.) Amir Baram, the director general of the Israeli Ministry of Defense, described the procurement as the “first and central step in implementing […] force buildup for a challenging security decade.”
“In the face of evolving threats in the region and alongside immediate procurement for wartime needs, we are committed to acting now to ensure the IDF’s military superiority even a decade from now and beyond,” Baram continued. “Operation Lion’s Roar has once again demonstrated the crucial importance of the strategic partnership between Israel and the U.S. and the need for advanced air power. The combination of the two squadrons’ distinct capabilities will provide the Air Force with full flexibility to address a wide range of combat scenarios.”
Israel signed a contract, with a ceiling of $8.58 billion, for its first 25 F-15IAs in December last year. These will be the first new Eagles that the country has acquired since 1999, when it received the last of its 25 F-15I Ra’am jets.
A rendering of the F-15IA for Israel. Boeing
That contract covered the design, integration, instrumentation, test, production, and delivery of 25 new F-15IAs, with an option for an additional 25, which Israel will now exercise.
Work on the first batch of F-15IAs is expected to be completed by the end of 2035. The aircraft will almost certainly feature extensive Israeli-specific modifications, as was the case with previous Eagles, especially when it comes to electronic warfare, weapons, and communications systems.
In August 2024, Israel was given U.S. approval to buy as many as 50 F-15IAs, as well as upgrade its existing F-15Is as part of an overall package valued at $18.82 billion that you can read about here.
In the past, the Israeli Ministry of Defense has said that deliveries of the F-15IAs would start in 2031, with between four and six aircraft being supplied annually.
The status of the plan to upgrade the F-15I fleet is unclear, but the additional F-15IAs will likely be earmarked for replacing the older F-15A-to-D Baz, two squadrons of which are still active.
An F-15I Ra’am carrying 2,000-pound class GBU-31 JDAMs. IAF via X
The Baz is used for both air-to-air and air-to-ground missions, but these are mainly very old jets, with the first examples having seen combat as long ago as 1979. These jets have been successively upgraded and also bolstered through transfers from U.S. Air Force stocks. They have also been heavily employed in recent combat operations.
The Baz fleet is highly illustrative of the fact that the IAF has been working at a considerable tempo for the last few years, something that has clearly put immense stress and additional hours on its fighters, some of which are 50 years old.
For Israel, the F-15 in general is prized for its long range and impressive stores-carrying capabilities. As well as significant ‘magazine depth,’ the latest versions of the F-15 also have a notable ability to carry outsize weapons, including hypersonic missiles, another feature of the jet that will be of particular interest to Israel. The IAF is increasingly reliant upon air-launched ballistic missiles and other air-launched standoff weapons, for which the F-15 is an ideal launch platform.
The Baz is used for both air-to-air and air-to-ground missions, but these are mainly very old jets, with the first examples having seen combat as long ago as 1979. Successively upgraded and also bolstered through transfers from U.S. Air Force stocks, these jets remain very valuable to the Israeli Air Force, as demonstrated by their prominent role in recent combat operations.
A trio of F-15A-to-D Baz fighters carrying mixed air-to-air and air-to-ground payloads. Amit Agronov/IAF
Meanwhile, the F-35I is increasingly becoming a mainstay of the IAF for a range of combat missions both in close proximity to Israel and over much greater distances.
In 2023, Israel opted to buy a third squadron of F-35Is, covering 25 more jets worth approximately $3 billion, and expand the Adir fleet to 75 aircraft. This batch of jets is scheduled to be delivered starting in 2028.
Last year, Israeli “Adir” (F-35I) fighter jets successfully intercepted two Iranian UAVs launched towards Israeli territory. pic.twitter.com/FQsEjKzxct
A photo published by the Israeli Air Force shows the unique instrumented F-35I assigned to the Flight Test Center carrying four external 2,000-pound class GBU-31 JDAMs, plus AMRAAMs. IAF via X
Carrying external stores erodes the F-35’s valuable stealth characteristics in return for providing a considerably larger payload. For many of the kinds of missions that the IAF flies, especially against opposition with little to no meaningful air defense capabilities, such a tradeoff is well worthwhile.
As we have described in the past, there are strong arguments for Israel to pursue a policy of procuring a mix of fighters:
“Buying the F-15IA and F-35I will provide the Israeli Air Force with two complementary platforms, both of which are among the most capable anywhere in the world, especially when it comes to long-range strike. Israeli F-15s, in particular, are also used for forward networking and command and control nodes, vital for managing long-range operations. On the other hand, both the F-15IA and F-35I are also more than efficient for air defense, including against drone threats, as well as air-to-ground operations closer to Israel, such as the ongoing conflicts in Gaza and Lebanon.”
Overall, given the still-precarious security situation in the Middle East, and the strong possibility of more combat operations against Iran and others, as well as the proven nature of both aircraft types, Israel’s decision to buy more F-15IAs and F-35Is is hardly surprising.
Weekly insights and analysis on the latest developments in military technology, strategy, and foreign policy.
The U.S. Air Force’s budget for the 2027 Fiscal Year looks like it will bring a massive boost for the F-15EX program, with the planned buy now reportedly standing at 267 jets. TWZ was the first to report on the existence of what was then known as the F-15X, and has repeatedly argued in the past that investing in the Eagle II is a very logical decision for the Air Force. This is especially the case as the service looks to a future without its F-15E Strike Eagles, which have borne the brunt of combat operations for decades.
According to Breaking Defense, the Air Force’s fiscal 2027 budget, revealed yesterday, looks to buy another 24 F-15EXs at a cost of $3 billion, but this is just the start, according to the new plan. Ultimately, the service wants to more than double its previous Eagle II buy, which previously stood at 129 jets, with the total having fluctuated in recent years.
A formation of four U.S. Air Force F-15EXs assigned to Eglin Air Force Base, Florida, flies over the Gulf of Mexico. U.S. Air Force photo by Staff Sgt. Blake Wiles
The new move is primarily a response to the need to “begin to recapitalize the aging F-15E fleet,” an Air Force spokesperson toldBreaking Defense.
The plan will be supported by the Trump administration’s gargantuan defense budget for fiscal 2027, which requests approximately $1.5 trillion in total funding. You can read more about this development in our previous coverage of the budget, which includes munitions, missile defense, shipbuilding, and other programs, as well as aircraft. It’s important to note that this controversial proposal still has to pass through Congress, and some changes to it will be made, at the very least.
When the budget was first rolled out, it included funding sought for another 24 F-15EXs, but didn’t include details on the dramatic change to the planned total fleet size for the aircraft.
An F-15EX assigned to Eglin Air Force Base, Florida, flies a training mission over the southeast United States. U.S. Air Force photo by Staff Sgt. Blake Wiles
Now, the Air Force has made clear that it wants to keep the F-15EX production line open for longer, ensuring that it will receive both fifth-generation F-35As and F-15EXs — the latest iteration of the F-15 that first entered service with the Air Force in 1976. Ultimately, a third line will spin up once the sixth-generation F-47 combat jet enters series production. As for the F-35, these are still being bought in the latest budget request, and they also get a boost, but they are not currently being delivered with radar, as the Block 4 upgrade is in limbo.
The Pentagon in its budget request says it can speed up fielding of the F-35’s Block 4 by a year, to 2030, as it increases spending on the program. This is reliant on reconciliation approvalhttps://t.co/F5NdnDxpKT
Overall, the Air Force expects to see its budget increase by around a whopping 38 percent compared to fiscal 2026, to $338.8 billion. Of those funds, a significant proportion will go into procurement, driving this up by around 30 percent, although that covers all assets, and not just new fighters.
The budget also includes significant increases for weapon system sustainment and flying hours.
At the same time, the Air Force budget includes requests to retire a number of aging aircraft, something that the increased F-15EX numbers will help address.
In particular, for fiscal 2027, the Air Force wants to get rid of 20 F-15Es. These would be the oldest examples, which include the aircraft fitted with the less powerful Pratt & Whitney F100-PW-220 engines.
The F-15EX sits alongside an F-15E Strike Eagle at Eglin Air Force Base, Florida. U.S. Air Force photo/1st Lt. Karissa Rodriguez
Of course, it remains possible that lawmakers will block such a move, although having more F-15EXs to replace these jets should make it a more acceptable proposal.
Additional F-15EXs mean more capability for the Air Force.
While the F-15EX will almost certainly take on a multirole mission once it’s more established in service, the air-to-air mission is currently the priority due to the Air National Guard getting the first of these jets. These units are tasked with the homeland air sovereignty mission, which focuses on intercepting aircraft and shooting down potential barrages of cruise missiles and, now, long-range one-way attack drones. As we have outlined in the past, the F-15EX is ideal for this role, especially, and a much more reasonable proposition for this mission than a more complex fifth-generation platform:
In the homeland defense role, which is the bread and butter of the F-15C/D ANG units, the F-15EX’s payload, range, open architecture, very advanced electronic surveillance and warfare suite, and overall adaptability will be of incredible use over many decades of service. You do not need a stealth fighter to do this mission. In fact, much of what is traded in terms of reliability, performance, and sustainment cost for low observability hinders the homeland defense mission. This includes raw kinematic performance. The F-15 can get places very fast when it needs to and still has fuel left over to do something once it is there, which is critical for quick reaction alert missions.
U.S. Air Force Lt. Col. Matthew Olde, the F-15 director of programs and operations at Defense Contract Management Agency Boeing St. Louis, exits an F-15EX at Selfridge Air National Guard Base, Michigan. U.S. Air National Guard photo by Tech. Sgt. Andrew Schumann
The customer also seems very happy with the jets.
In its 2025 annual report, the Office of the Director, Operational Test & Evaluation (DOT&E) provided an absolutely glowing assessment of the F-15EX, as you can read about here.
In terms of the air-to-air mission set, the report noted:
“Against the level of threat tested, the F-15EX is operationally effective in all its air superiority roles, including defensive and offensive counter-air against surrogate fifth-generation adversary aircraft, as well as basic air-to-ground capability against the tested threats.”
The reference to the F-15EX’s effectiveness against fifth-generation threats is especially notable. While it’s unclear exactly what kinds of threats are being referred to, a fifth-generation fighter will typically have a low-observable design, advanced ‘sensor-fused’ avionics, and generally high performance, among other attributes. In fact, very much the kind of threat that the Air Force would expect to face in a potential conflict with China.
Once the F-15EX takes on more offensive missions, it becomes even more relevant, especially as an F-15E successor, including carrying outsized payloads, among them hypersonic missiles, over long distances, which would likely be critical in a conflict in the Pacific.
But even without these offensive attributes, the Eagle II offers capabilities that are unique in the Air Force.
An F-15EX fires an AIM-120D missile during a test mission near Eglin Air Force Base, Florida. The F-15EX can carry up to 12 AIM-120 missiles. U.S. Air Force photo by Tech. Sgt. John Raven
Using the F-15EX as an arsenal ship of sorts, especially when equipped with long-range missiles, in cooperation with its stealthy counterparts operating silently and forward, is a tactic, among others, we have long discussed. Equally compelling is the case for the two-seat Eagle II serving as a ‘drone controller’ for the Air Force’s forthcoming Collaborative Combat Aircraft (CCA).
Beyond all this, the F-15EX can carry a lot of payload over a long distance, to include traditional air-to-ground weapons. If the F-15EXs replace F-15Es, they will certainly have a focus on air-to-ground missions, as well.
Just as important as its capabilities and its proven airframe, the F-15EX promises to deliver a lot on the investment. The jets should provide lower operational and sustainment costs compared to both legacy and fifth-generation types, and over many decades.
In the past, Boeing told TWZ that the F-15EX has a 20,000-hour airframe service life. “This has been enabled by running a full-scale fatigue test long enough to show structure that is good beyond 20,000 hours, and structural redesigns purposely implemented by Boeing have addressed known fatigue-critical locations,” the company’s Rob Novotny explained. This is a major benefit of an extremely mature and evolved airframe. It will be able to serve for the better part of a century at common usage rates. When you amortize the unit cost over, in some cases, two and a half times the service life of most fast jets, it offers a very clear value proposition. The cost per flight hour is also well understood after decades of Eagle operations, including years of service of similar advanced variants.
The airframe life alone is key here. 20k on these! Most tactical jets are roughly around 8k then SLEP to 10k. It’s not just about the cost of acquisition, that is really a smaller factor. Operational and sustainment cost and longevity are critical factors.
The program was then slated to grow from 98 aircraft to 129 in the Fiscal Year 2026 budget proposal.
That decision came only weeks after President Trump made the surprise announcement that the Michigan Air National Guard, which is losing its A-10 attack jets, will be reequipped with the F-15EX.
At that point, Portland, Fresno, New Orleans, and two squadrons at Kadena Air Base in Okinawa, Japan, were slated to get the F-15EX. This plan would have required some 90 jets out of the 98-aircraft inventory. Adding Michigan, and based on those squadrons expanding to 21 jets, would require 126 aircraft. That would have left just three aircraft to satisfy test, evaluation, and training requirements.
F-15 Eagle Crew Chiefs inspect their aircraft on the flight line at Kadena Air Base, Japan. DoD photo by Master Sgt. Val Gempis, U.S. Air Force. (Released)
Increasing the planned buy to 267 jets opens up the possibility of creating 13 squadrons of 21 jets, with three F-15EXs left over. Exactly what final balance the Air Force decides upon remains to be seen, but whichever way you look at it, it’s a major boon for the Combat Air Forces.
It seems almost inevitable that at least some of the additional F-15EXs will be used to replace aging F-15Es.
The possibility of swapping out F-15Es for F-15EXs is something we discussed back in 2020.
In an official Justification and Approval document at the time, the Air Force stated:
“The objective of this program is to rapidly develop, integrate, and field the F-15EX weapon system to refresh/replace aging F-15C/D aircraft. A decision to also refresh F-15E aircraft has not yet been made, but remains an option.”
After four losses in Operation Epic Fury, the relatively small 215-strong Strike Eagle fleet remains in high demand with an enduring commitment in the U.S. Central Command region that leverages many impressive niche capabilities. With just six frontline Strike Eagle squadrons, at least one is always deployed. The F-15E is also capable of delivering nuclear weapons and is the first jet certified to employ the newest variant of the B61 tactical nuclear bomb.
An F-15E from Mountain Home Air Force Base, Idaho, carrying a B61 Joint Test Assembly, departs Nellis Air Force Base, Nevada, for the Tonopah Test Range. U.S. Air Force/Courtesy photo by Santos Torres
Replacing these critical jets is fast becoming a priority, and one that the F-15EX is uniquely suited to fulfill.
The F-15E shares similar cutting-edge technology as found in the F-15EX. It has been upgraded with the Raytheon AN/APG-82(V)1 active electronically scanned array (AESA) radar, the new Advanced Display Core Processor (ADCP) II, and it too is receiving the new Eagle Passive/Active Warning Survivability System, or EPAWSS, self-protection system.
With the F-15EX numbers outlined in its fiscal 2027 budget request, the Air Force would be well placed to replace a significant proportion of its Strike Eagle inventory.
As well as the F-15E, the Air Force needs to replace F-16s and A-10s. At least some of the planned retirements of these types could be covered by F-15EXs. Having the line healthy and warm could allow for more Eagle IIs to be bought to cover the F-15E fleet and some F-16 and A-10 retirements beyond the 267 F-15EXs currently planned. This may make even more sense as the F-16 ages and becomes more expensive to operate, in particular.
With the Air Force at large feeling the effects of years of underinvestment in new fighters, and with China presenting a massive pacing challenge, the Air National Guard is now pushing Congress to approve multiyear funding for the acquisition of between 72 and 100 new fighters each year. Again, the Eagle II could help meet this need, although there are limits to what the production line can support, especially with foreign orders.
An F-15C assigned to the 123rd Fighter Squadron, Portland Air National Guard Base, Oregon, taxis to the runway at Nellis Air Force Base, Nevada, while an F-15EX assigned to the 85th Test and Evaluation Squadron, Eglin Air Force Base, Florida, prepares to take off. U.S. Air Force photo by William R. Lewis
It remains to be seen exactly how the jets will be fielded and, as noted earlier, Congress will have to approve this budget request for it to be signed into law.
As it stands, however, the F-15EX appears to be going from strength to strength, with the Air Force increasingly enthusiastic about the latest iteration of the iconic Eagle.
Streaming entertainment giant Netflix is in negotiations to buy the historic Radford Studio Center lot in Studio City.
Netflix plans to purchase the Los Angeles studio that has been home to generations of landmark television shows, including “Gunsmoke” and “Seinfeld,” according to two people with knowledge of the pending deal who were not authorized to speak about it publicly.
The studio’s previous operator, Hackman Capital Partners, defaulted on a $1.1-billion mortgage in January. Investment bank Goldman Sachs took over the property and is in talks with Netflix to sell it for between $330 million and $400 million.
Representatives for Hackman and Netflix declined to comment on the planned sale.
Culver City-based Hackman Capital Partners and Square Mile Capital Management teamed up to buy the Radford Avenue property from ViacomCBS in 2021 with a winning bid of $1.85 billion, after a competitive battle for the 55-acre studio beloved by the television industry.
At the time, the staggering price tag underscored the value — and scarcity — of TV soundstages in Los Angeles as content producers scrambled for space to shoot TV shows and movies to stock their streaming services. It was one of the largest-ever real estate transactions for a TV studio complex in Los Angeles.
Since then, production has substantially declined in Southern California. L.A. continues to battle the loss of production to other states and countries, as well as the lingering effects on the industry of the pandemic and the 2023 dual writers’ and actors’ strikes. Cutbacks in spending at the major studios after a surge in streaming-fueled TV production have further damped film activity in the region.
Founded by silent film comedy legend Mack Sennett in 1928, the lot became known as “Hit City” in the decades after World War II as popular TV shows such as “Leave It to Beaver,” “Gilligan’s Island,” “The Mary Tyler Moore Show,” “The Bob Newhart Show” and “Will & Grace” were made there. The storied lot gave the Studio City neighborhood its name,
Netflix, which has a market cap of about $455 billion — more than double that of Walt Disney Co. — has maintained its dominance in the global streaming business with more than 325 million subscribers.
The Los Gatos-based company has production offices worldwide, including facilities in Albuquerque, Brooklyn, London, Madrid and Toronto.
Netflix had secured an $82.7-billion deal to buy Warner Bros. studios and streaming services in December, but withdrew from the bidding war in late February after Paramount Skydance offered $31 a share. As part of the switch, Netflix was paid a $2.8-billion termination fee.
