By Christopher Palmeri and Dylan Sloan
David Zaslav, the longtime TV executive who created Warner Bros. Discovery Inc. but ultimately failed to keep it going as an independent company, made about $600 million on the sale of the business to Paramount Skydance Corp. this week.
Much of Zaslav’s compensation came in the form of stock options. Warner Bros. stockholders received $31 a share in cash in the sale, a nearly 25% increase from when the stock first began trading in April of 2022. The Standard & Poor’s 500 rose 76% over that period.
Many other Warner executives received large paydays, including streaming boss JB Perrette and strategy chief Bruce Campbell. A spokesperson said Zaslav doubled the number of employees overall who received stock awards.
The new company, now called Skydance Corp. and led by technology scion David Ellison, is one of the largest media businesses in the world, comprising the century-old Paramount and Warner Bros. movie studios, dozens of TV networks, like CBS and CNN, as well as the Paramount+ and HBO Max streaming services.
Christopher Palmeri and Dylan Sloan report for Bloomberg.
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Oil flows from the Middle East have rebounded to ~80% of pre-war volumes, a testament to the resilience of countries in the region to maintain their supply commitments to global markets, Shell (SHEL) CEO Wael Sawan said Tuesday, according
The 39th annual Hispanic Heritage Awards — which will honor the contributions and accomplishments of Latinos in the U.S. and Latin America — will air nationwide Friday on PBS.
In a historic decision by the Hispanic Heritage Foundation, which presents the annual awards, the event departed from its home base of Washington. Instead, Latino luminaries gathered at the Orchestra Hall in Minneapolis, where the celebratory occasion was taped for broadcast Sept. 10.
The move to the Midwest was a timely decision for members of the Hispanic Heritage Foundation, a nonprofit organization established by the White House in 1988. They took into consideration Minnesota’s response to a large-scale immigration enforcement campaign that began in December, known as “Operation Metro Surge.”
“We went to Minneapolis because we wanted to recognize what’s great about our community, [our] courage, resilience, strength, unity and looking out for each other,” said Antonio Tijerino, president and CEO of the Hispanic Heritage Foundation, in a phone call with De Los.
The Department of Homeland Security called the undertaking the “largest DHS operation ever” earlier this year on X, with an estimated 2,000 agents deployed to the Minneapolis–St. Paul metropolitan area. Thousands of Minnesota residents rallied against the tactical and militant methods used by Immigration and Customs Enforcement agents.
Civil unrest hit a boiling point following the killings of Renée Good and Alex Pretti on Jan. 7 and 24, respectively, by federal agents.
“ We actually went with a delegation of national Latino leaders to offer our support of the community during this crisis and we were overwhelmed by the heroism,” said Tijerino, who recalled a group visit to Minneapolis in February. There, he and his colleagues learned more about the rapid response efforts underway in the city.
“It was an American story that we wanted to tell,” he added.
At the 39th ceremony, Los Tigres del Norte presented a bit of that story to the people of Minnesota — who were collectively honored with the Humanitarian Award.
“Peaceful, hard-working communities of immigrants and refugees found themselves in fearful chaos as more than 4,000 parents, grandparents, neighbors, friends and families were taken by force, U.S. citizens among them,” Los Tigres del Norte announced in English while presenting the award. The players closed the show with a rendition of their 1984 song “Jaula de Oro,” which speaks to the plight of the undocumented community.
“I think Minnesota [is] a reflection of all of our Latino communities across the nation,” said Henry Jiménez, president and CEO of Propel Nonprofits, who was one of the individuals on stage representing the people of Minnesota.
“It uplifted the people. I think people felt validated for all of their hard work and effort that they’ve had to endure, not just the last couple months, but really a lifetime of work,” said Jiménez, whose organization helps consult and raise funds for budding nonprofits.
The relocation of the Hispanic Heritage Awards also comes as D.C. deals with the temporary closure of the John F. Kennedy Center for the Performing Arts — which hosted the Hispanic Heritage Awards in years prior.
The Kennedy Center closed its doors indefinitely on Sept. 15 after an inspection found acute public safety concerns, among them roofing issues. In a letter to Congress, various former employees allege that leadership was aware of the issues but halted plans for repair in April.
The closing also comes after a federal judge blocked the board’s decision to include President Trump’s name on the building in September. Trump’s takeover of the Kennedy Center began in February 2025, when he dismissed half its board members and installed himself as chairman.
“We were [at the Kennedy Center] for a very long time. It brought a lot of prestige and to fill a historic venue like that with Latinos was wonderful,” said Tijerino. “After many years of being at the Kennedy Center, we decided we wanted to go to another venue.”
In April 2025, the Hispanic Heritage Foundation announced that it would host its 38th annual awards at the Warner Theater instead; previous versions of the ceremony have also taken place at the historic Warner Theater venue, including in 2015 for the 28th Annual Awards and 2017 for the 30th celebration.
Hosted by comedian Anjelah Johnson-Reyes, the other honorees of the 39th Hispanic Heritage Awards included Venezuelan artist Oscar D’León, the salsa singer behind notable hits such as “Llorarás” and “Me Voy Pa’ Cali,” who received the Legend Award for his lifelong contributions to the genre.
Chilean singer-songwriter Mon Laferte, the vocal powerhouse behind power ballads like “Tu Falta de Querer” and “Amárrame (feat. Juanes),” also received the Social Justice Award. The Latin Grammy-winning artist has long championed feminist causes and challenged sexual harassment in the entertainment industry — a topic central to her 2024 Netflix documentary, “Mon Laferte, Te Amo.”
Puerto Rican rapper Eladio Carrión, whose trap flow famously featured in songs like “Coco Chanel” with Bad Bunny and “Sigue Bailandome,” was also honored with the Inspira Award.
Mexican singer-actor Ximena Sariñana, whose early composition appeared on the soundtrack of the 2002 teen film “Amar Te Duele,” received the Music Award as well.
Following the success of their Minneapolis awards show, the Hispanic Heritage Foundation is now toying with the idea that the ceremony can take place anywhere where there is a strong Latino presence.
“Who knows if L.A. is the [next] spot!” said Tijerino, who hails from Long Beach,
Though Jiménez assures that he is not swayed by any particular city at the moment, he offers one idea: “I hope that the community that’s chosen [to host] doesn’t have to go through a difficult time to be chosen.”
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Banking Revolut’s CEO Says US Banks Are ‘Out of Step’ With Global Consumers
Revolut US CEO Cetin Duransoy reveals plans to target globally minded and “underbanked” Americans as it builds toward becoming a primary bank.
After receiving conditional approval from the U.S. Office of the Comptroller of the Currency for a national bank charter, Revolut Technologies Inc. appears ready to launch a full-scale challenge to traditional banks and fintechs in the United States.
After relatively quick growth in France, Spain, and Italy, Revolut aims to bring its superapp model to the U.S., where it doesn’t exist in quite the same form.
Revolut’s U.S. CEO, Cetin Duransoy, who has held senior roles at Raisin, Fundbox, Visa, and Capital One, spoke with Global Finance about Revolut’s plans for the American market.
Global Finance: In the US, banks, fintechs, brokerages, travel products and payment apps are mostly separate. Does that surprise you? Do you see a genuine hole in the U.S. market for a company that combines all those relationships in one place?
Duransoy: It’s not surprising, given how complex these products are and how crowded and fragmented the U.S. market is. Layer on the regulatory process, and combining all these product suites—banking, brokerage, FX, crypto, travel, and more—into a single company or app becomes genuinely difficult and, for most companies, not worth the effort.
We believe you need a genuinely differentiated product to succeed in this market, and we have identified an opportunity here. By bringing all these products into one platform, we can remove the friction customers typically experience when cobbling together services from multiple providers.
GF: People often say, “The U.S. banking market is different.” Different how, exactly? And how might those differences affect Revolut?
Duransoy: The US’s fragmented, charter-based regulation can be more cumbersome than the EU’s passporting model, and U.S. customers tend to rely more on credit than their European counterparts. But the U.S. provides certain advantages, including the U.S. card network and interchange system, which subsidize rewards; FDIC insurance; and consumer-protection laws, which create a trust threshold.
Our broad product offering, 80-million-user global network, and strong global brand allow U.S. to cater to the distinct challenges of the U.S. market and understand the challenges of U.S. distribution costs. By obtaining a national bank charter, we will be on par with traditional banks, with direct Fedwire/ACH access and lending capability.
GF: When Revolut enters the U.S. market more aggressively, should Americans expect something close to the European Revolut experience—or will the U.S. product necessarily look much more like a traditional American bank competing on deposits, credit cards and lending?
Duransoy: We are always focused on product-market fit for our customers, and the U.S. will be no different. We’ve publicly shared that we will bring the best of what Revolut offers and provide the products U.S. customers want most, including checking accounts, credit cards, installment loans, FX, and stablecoins. We’ll continue innovating to deliver a distinct, more productive experience for U.S. customers.
GF: One of the things that makes Revolut unusual in Europe is that it sits at the intersection of finance, travel and lifestyle. Is that model central to how you think about the US, or is America more of a banking opportunity?
Duransoy: Yes. Combining our lifestyle products with the financial services that have made Revolut so popular remains central to our thinking. And they’re a key differentiator in many of our markets. We expect these offerings to help make us a top-of-wallet card and strengthen customer retention.
GF: Why should someone with Chase, Amex, Venmo, Robinhood, and a good travel card move meaningful parts of their financial life to Revolut? What can you offer that those companies, individually or collectively, do not?
Duransoy: We recognize that inertia is a strong force when it comes to financial services and that a customer’s bank holds critical parts of their financial life, such as their mortgage or direct deposit.
What we offer is the ability to consolidate multiple products and services into a single interface and remove the friction our customers find frustrating with other services. Revolut’s broad-based platform allows customers to seamlessly access multi-currency spending without foreign transaction fees, instant global P2P, a combined debit/credit product, budgeting, digital assets, and investing, all without transferring funds between platforms or managing multiple accounts. That’s especially valuable for people who travel internationally, have cross-border family ties, or are underserved by traditional credit underwriting.
GF: Which types of lending will Revolut prioritize in the US?
Duransoy: We intend to initially prioritize unsecured and secured credit cards and installment loans.
GF: What does Revolut understand about the consumer relationship that you think many American banks and fintechs still lack?
Duransoy: We treat our global app as the product. We iterate quickly, aim for gamified engagement, and offer frequent feature releases, in contrast to most U.S. bank apps, which have slower release cycles.
We also build for financial lives that span borders and currencies, rather than assuming a single-currency, single-country customer. American banks were largely built for a domestic customer, and that assumption is increasingly out of step with a more mobile, globally connected population.
GF: Do you think Revolut is underestimated in the US? If so, why? Among those who are aware, what do people in the U.S. most commonly misunderstand about Revolut right now?
Duransoy: “Underestimated” is probably right now, largely because our independent U.S. bank doesn’t exist yet. So we’re still seen as a “European neobank” by most Americans. That undersells what we’ll be once we have a full national charter, FDIC insurance, and our full lending capabilities live.
The most common misunderstanding among those who do know the brand is that we’re simply a fintech or a travel debit card, rather than a company with an 80-million-user global base—including 1.4M in the US—and banking licenses now spanning the UK, France, Australia, Mexico, and more.
GF: Are you coming to the U.S. to compete for a small slice of the market, or do you ultimately believe Revolut can change what Americans expect from a bank?
Duransoy: In the US, our near-term goal is to compete for market share. No new entrant can reshape what an entire country expects from a bank on day one. That takes years of trust-building, especially post-charter, when FDIC insurance and regulatory scrutiny are new territory for us.
What we’re looking to do is win the demographics best suited to us, namely the internationally minded, underbanked-by-incumbents, and digitally native users.
GF: On the corporate side, what are Revolut’s corporate banking plans?
Duransoy: Revolut Business exists—and is a core focus for us—in the U.S. We expect this to continue and are excited to launch merchant acquiring within the first years of becoming a bank.
GF: If we revisit this in three years, what would need to be true for you to say that Revolut has successfully become a major U.S. bank?
Duransoy: Within three years, we expect to be a fully operating bank with real momentum. We won’t share specific customer or product numbers today, but we’re building for scale and a sizable U.S. customer base that treats us as their primary bank, not a secondary account. That’s the bar we’re setting for ourselves.
Private dinner will be the first one-on-one meeting between the two men, according to reports.
By Agence France Presse and Reuters
Published On 28 Sep 202628 Sep 2026
Anthropic CEO Dario Amodei is set to dine one-on-one with US President Donald Trump at the White House.
The meeting on Sunday evening, confirmed by Trump, comes after months of open conflict between the artificial intelligence startup and the Trump administration.
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The private dinner would be the first one-on-one meeting between the two men, according to US media, including Axios, which first reported the dinner.
Trump confirmed the dinner on Sunday evening and reaffirmed his stance against slowing the pace of AI development.
Trump also reiterated his belief that new regulations would open the door for China to outpace the United States in AI advancement.
Although he acknowledged Amodei’s concern that going too fast on artificial intelligence could expand risks, Trump said it was more important for the US to maintain a technological edge over China.
“We’re about maybe a year and a half up on China,” Trump told Fox News while attending the Presidents Cup golf tournament in Illinois.
“We’re leading, and we’re building tremendous, trillions of dollars’ worth of places. And why should we give that up?”
The meeting comes two days after a federal appeals court upheld the Pentagon’s decision to classify Anthropic as a “supply chain risk”, which prohibits the US military from using its models.
The startup was sanctioned by the Trump administration after refusing in February to allow its tools to be used for fully autonomous weapons or domestic mass surveillance.
Trump also badmouthed Amodei, saying he was trying to be “a perfect little angel” after the Anthropic chief called for a pause in AI development.
Amodei was absent from the state dinner held for Chinese President Xi Jinping on Thursday, attended by AI industry leaders, including Amodei’s rival Sam Altman of OpenAI.
Despite mounting calls to slow down AI development due to the risk of losing control of the technology, the US government believes that the sector’s major players – OpenAI, Anthropic, Google, and Meta – cannot afford to slow down for fear that China will gain the upper hand.
Trump and Mike Johnson, the speaker of the House of Representatives, are set to meet with leading AI executives on Tuesday.
Trump to host Anthropic CEO Dario Amodei for private White House dinner
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For many celebrities, getting a Funko Pop! doll modeled after themselves is a sign they’ve made it in Hollywood. The 4-inch vinyl “Pop!” figurines, with their oversize heads and black dot eyes, symbolize being ingrained in pop culture — objects fans buy, celebrate and display.
At Funko’s flagship Hollywood store, there are thousands to choose from, ranging from NFL players to Disney princesses and characters from the Netflix period drama “Bridgerton.”
But the publicly traded company behind the popular dolls has been facing significant headwinds.
Funko Inc. last year posted a loss of $67.4 million on sales of $908.2 million, down 13% from the previous year. The company disclosed it had debts of $225 million.
The Everett, Wash.-based company warned investors in filings that there was “substantial doubt” about its ability to generate enough cash to meet its debt payments, citing the effects of tariffs in China, where most of its toys were made, canceled retail orders and loan covenants it expected to breach.
Funko Chief Executive Josh Simon, pictured at the Pokémon convention, says he took over the company at an “inflection point.”
(Carolyn Fong / For The Times)
Now the company is looking to stage a comeback.
Leading the turnaround challenge is Josh Simon, who left his job running global consumer products at Netflix to become Funko’s chief executive in September 2025 — the third person to hold the title in two years.
“Funko was at an interesting inflection point,” said 48-year-old Simon, who lives in Los Feliz. “I felt there was still a lot of really deep fandom and enthusiasm from retailers and at the same time, there were a lot of problems that had to be sorted out at the company. I thought it would be an interesting adventure and hopefully a way to help turn things around a bit and restore it back to that level of fan passion and glory that existed years ago.”
Funko began in 1998 when entrepreneur Mike Becker decided bobbleheads would be the next big thing and shipped them out of his garage. After entrepreneur Brian Mariotti bought Funko in 2005, the business began licensing more characters. Sales took off with the launch of its big-headed “Pop!” figurines in 2010.
The company changed ownership over the years, added backpacks and other products, and went public in 2017. Most of its revenue still comes from making licensed characters and selling them through retailers, online and at events.
Funko survived a decline in sales with the rise of kidults — adults who collect toys.
(Carolyn Fong / For The Times)
But Funko’s sales plunged in 2025 following a global trade war.
The company overestimated demand, picked the wrong characters and made too many of dolls, said Gerrick Johnson, senior research analyst at Seaport Research Partners, which has a buy rating on Funko.
President Trump’s heavy tariffs imposed on China substantially raised the costs of making Funko dolls.
Amid lagging sales, retailers marked down the figurines, alienating collectors who want to see items appreciate in value.
“Collectors hate buying things 50% off,” Johnson said. “One of the biggest turnoffs in collectibles is a bargain bin.”
What kept the brand alive through the slump was the rise of kidults — adults who collect toys. Simon was one, picking up Pop! figurines from “Toy Story” and “Back to the Future” long before he worked there. Funko’s job, he said, is to distill what people love about a character into a stylized version of it.
“The number of inbound requests we get from musicians and athletes and celebrities — everyone is excited and pitching us they want a Funko Pop! made of themselves, because in some ways it suggests a mark of establishment in pop culture,” Simon said. “It’s like akin to getting your star on the Hollywood Walk of Fame in some way.”
Convention-goers create custom dolls at a Funko Pop! kiosk.
(Carolyn Fong / For The Times)
One expert said Funko’s job is to distill what people love about a character into a stylized version of it.
(Carolyn Fong / For The Times)
Though based in Washington, Funko has a large presence in L.A., where most of its senior leadership is based. They work out of the same offices as the flagship Hollywood store. The company also has employees in Arizona, London, Hong Kong and other markets.
Under Simon, Funko has diversified its supply chain, shifting production out of China to Vietnam and other countries. To improve cash flow, Funko renegotiated the timing of its debt payments and pushed products to market faster.
For example, Funko turned around figurines of the characters from “KPop Demon Hunters” — the Netflix film that became the streamer’s most-watched movie ever after its June 2025 release — in about four months, well ahead of Mattel, whose first items reached stores this spring.
When John Cena stepped into the ring for his final WWE match in December, there were pre-orders for a Funko figure wearing the same outfit down to the shirt reading, “The Last Time is Now,” built from an image Funko received a week earlier. The doll became a bestseller, said Scott Zanghellini, executive vice president of WWE Consumer Products.
“It’s happening in real time and his team being able to move quickly, and us always moving quickly in this world of we have seven hours of programming a week — how do you take advantage of that and give the fans what they want?” Zanghellini said.
Funko is also widening what counts as a license, making figures from “The Folk of the Air,” Holly Black’s fantasy series revived by book lovers on TikTok, as well as creating more original characters that aren’t licensed.
“We really want to make sure that we can be a part of these cultural moments while they’re happening,” Simon said.
Reaching out to fans is another priority. At PokémonXP, the first official Pokémon fan convention held last month at San Francisco’s Moscone Center, Funko ran a Pop! Yourself booth where attendees built custom figures in exclusive Trainer uniforms with a Pokémon of their choice.
“We really want to make sure that we can be a part of these cultural moments while they’re happening,” Funko’s chief executive said.
(Carolyn Fong / For The Times)
Jeff Leu, 40, of San Francisco spent about $100 there on two figures modeled after his kids. He already owns 40 to 50 “The Simpsons” Pop! figures and tracks his collection in a spreadsheet.
“I feel like there is a Funko for everything,” Leu said.
Now he feels the pull of the Pokémon ones.
“As they add more, there’s more pressure to buy it because I like to collect things,” Leu said. “Luckily I have a lot of room to display my toys.”
So far, the turnaround plan has yielded some positive signs.
Second-quarter sales rose 7% to $207.7 million and the company reported net income of $15.4 million, against a $40.5-million loss a year earlier. The quarter, however, included a $25.4-million benefit from expected tariff refunds, without which Funko would have lost money.
Funko’s share price closed Friday around $5.50, up about 1%. The stock has climbed 38% in the last year but is 60% below what it trade at in January 2025.
“It’s way too early to make any sort of calls on Josh at this point, but I like what he’s doing,” Johnson said. “It’s an interesting point in Funko’s history, and it’s a great opportunity for him to grow this business.”
Open AI’s CEO has called for international coordination to address potential risks posed by artificial intelligence (AI). Sam Altman’s remarks come as Australia’s government reveals OpenAI’s AI agents hacked the country’s healthcare data tracking website.
Published On 24 Sep 202624 Sep 2026
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The Clippers hired John S. Gibson as interim CEO and governor on Monday, taking over the roles previously held by team owner Steve Ballmer, who is serving a one-year ban by the NBA.
Ballmer recently said he won’t fight the league’s salary-cap circumvention punishment in a reversal of the team’s initial defiance and vow to fight against what it called “a heavily biased investigation.”
The league suspended Ballmer for one year, fined the team $30 million and forced it to forfeit five first-round draft picks. Ballmer said the team has paid the fine.
Gibson will immediately oversee the team’s basketball and business operations and represent the Clippers in league voting matters. He’s a long-time Clippers season ticketholder.
“I am honored to take on this responsibility and grateful for the opportunity to serve an organization I have supported for many years,” Gibson said in a statement. “My focus will be on supporting our people, providing steady leadership, and helping the organization continue moving forward.”
Gibson spent the last six years as a trial lawyer and litigation partner at DLA Piper in Los Angeles, where he co-chaired the firm’s U.S. Business & Commercial Litigation practice. He previously advised and represented major corporations, technology and health care companies, pro sports organizations and business leaders.
Anthropic’s CEO says he ‘didn’t appreciate’ the speed with which AI’s growth would underpin the global economy. His call to slow down AI development sent shockwaves in global stock markets, but was supported by other tech leaders who believe better safeguards are needed.
Published On 16 Sep 202616 Sep 2026
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Anthropic CEO Amodei calls to 'slow the pace' of AI model improvements
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