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Why related-party loans at issue in Mark Walter probe considered risky

The federal law enforcement probe into the financial affairs of the Dodgers’ controlling owner, Mark Walter, seems to focus on what looks like an obscure financial maneuver: related-party transactions.

They are deals between entities with business or personal ties, including loans, sales and other transactions, that can have legitimate reasons but pose potential conflicts of interest and typically require extra scrutiny.

Walter tapped insurers he controlled to provide most of the financing for the $2.15-billion acquisition of the Dodgers in 2012, The Times has reported — a deal later vetted by state insurance regulators.

Now, regulators reportedly are investigating whether billions of dollars’ worth of similar loans made by Walter’s companies were properly disclosed.

There are examples in which related-party transactions led to trouble, including the 2001 bankruptcy of Enron Corp., the largest at the time in Wall Street history. Bernie Madoff profited from his Ponzi scheme through related-party loans.

At issue with Walter is $21 billion in loans not disclosed to state insurance regulators that were made by two Delaware insurers he owns, according to ratings agency Fitch. The loans reportedly were made to companies with ties to Walter or his TWG Global holdings company.

The seriousness of the investigation has been highlighted by subpoenas served on the insurers and the reported seizure of Walter’s cellphone and laptop by federal authorities. Still, investigations by prosecutors and securities regulators can result in no action.

Here are more details on the risk presented by related-party transactions and why they require disclosure and extra regulatory scrutiny.

What do the investigations mean for his ownership of his sport teams?

The 66-year-old billionaire also took a majority stake in the Los Angeles Lakers last year and owns the Chelsea soccer team in the English Premier League. There is no indication yet that any of this has affected his ownership stakes, but the probe has yet to be completed.

What is the problem with related-party transactions?

Bruce Dubinsky, a forensic accountant who worked on the Enron and Madoff cases, says the issue comes down to the motivation of the parties and can be explained through an analogy.

Sell a car to a stranger and you both research its worth and come to an agreed “fair market value,” he said. Sell it to your brother, you might cut the price to “give him a deal,” and later even forgive the payments.

“That’s why, from an audit standpoint, there should be more scrutiny if you’re doing business with the left hand and the right hand, because it’s easier to manipulate things,” Dubinsky said. “Repayments can be delayed indefinitely. They are always more suspect to fraud.”

How does that play out in the insurance industry?

Insurance is one of the most regulated industries, since the companies hold premium dollars from policyholders for future claims payouts — and regulators want to ensure the money is there when it’s needed. Related-party transactions can threaten that.

“There is a conflict of interest between the policyholders’ interest in the company being profitable and the owner’s interest in getting the least expensive financing that is available,” said Jim Donelon, who served as Louisiana insurance commissioner for 18 years before stepping down in 2024.

“It potentially threatens the solvency of the company, which then threatens the welfare of the policyholders,” Donelon said.

The National Assn. of Insurance Commissioners, for whom Donelon served as president, provides guidance to regulators on how to review related-party transactions.

What are some of the most notable examples of related-party transactions turning into financial disasters?

The failure of Enron was a prime lesson in how related-party transactions can lead to a company’s downfall.

As the Houston energy trader struggled and racked up $30 billion in debt, chief financial officer Andrew Fastow thought he found a way to keep it off Enron’s books. He created off-balance sheet entities to unload the debt and took personal stakes in them, allowing him to sit on both sides of the negotiation and pocket millions.

They were “transactions with related parties that were not at arm’s length,” Dubinsky said.

The debacle was a driving force in the passage of the Sarbanes-Oxley Act of 2002, which tightened regulations over governance, accounting and related-party transactions.

What about the Madoff fraud?

The Madoff scandal, in which investors lost $17.5 billion in invested principal, operated like a typical Ponzi scheme with returns to older investors paid by money from new investors.

However, related-party transactions were key too, and some literally involved family members. Madoff’s brother, Peter, pleaded guilty to receiving $15.7 million in sham loans and giving $9.9 million in sham loans to family members. What’s more, the auditor was a related party.

“In Madoff, what were called ‘related‑party loans’ were just sham transactions — there was no real economic substance. It was simply Madoff taking money out of his own firm,” said Dubinsky, an expert witness for the government.

Is there anything comparable with the Walter probe?

The three situations appear entirely different, but the investigation into the related-party loans made by Walter’s Delaware Life and its affiliate, Clear Spring Life and Annuity, involves vast sums of money.

After receiving the subpoenas, the firms conducted internal investigations. They had reported having $1 billion in related-party loans but, after the review, they reclassified $21 billion worth of loans as related, including $4.6 billion held by Clear Spring, said Fitch analyst Jamie Tucker, senior director of North American insurance ratings.

Executives said they were unaware the loans were going to an affiliated company.

Is there any indication what the money was used for?

“Unclear at this stage,” Tucker said. “This a developing situation with ongoing investigations.”

One clue may be a report that Walter tapped insurers to fund more deals than the Dodgers acquisition. The Wall Street Journal said five insurers had provided more than $10 billion in deal funding since Walter’s financial services company, Guggenheim Partners, got into the insurance business after the 2008 financial crisis.

What have been the implications for the insurers owned by Walters?

Fitch said the financial restatement increased the two insurers’ related-party loans from 2% to 40% of their portfolios, the highest exposure among life insurers it rates in North America.

Fitch, A.M. Best and S&P Global also downgraded Delaware Life’s outlook to negative, though they said the insurer maintain a high level of financial strength.

“Our capital position and liquidity remain strong, and our financial strength ratings are unchanged,” said Group 1001, the insurers’ parent company, in a statement.

What has Walter had to say about all this?

He has not publicly commented, but a TWG spokesperson stated that, “Mark Walter and TWG have always acted in good faith, and those who have done business with Mark know him as honest and straightforward. Nothing about these transactions was any different.”

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Trump says war can’t ‘go much longer’, Hormuz deal close | Donald Trump News

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Vinicius Jr extends Real Madrid deal to 2032, ending transfer speculation | Football News

The 26-year-old Brazil international had been linked with a move to English champions Arsenal.

Real Madrid have secured ⁠the ⁠future of Brazilian winger Vinicius Jr, extending his contract until ⁠June 2032, the Spanish giants announced, ⁠bringing an end to months of speculation over his future.

The 26-year-old Brazil international has been ‌a central figure in Real’s attack in recent seasons and had been linked with a move to English champions Arsenal.

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His previous contract was ⁠due to expire in ⁠June 2027.

“Real Madrid and Vinicius Jr have agreed to extend our player’s ⁠contract, which now keeps him with the ⁠club through June ⁠30, 2032,” Real said in a statement on Thursday.

“Vinicius has become one of the most ‌important players during one of the most successful periods in ‌our history.”

Since joining from Brazilian club Flamengo in 2018, Vinicius has scored 128 goals and registered 100 assists for Real.

Spanish and British media had reported prolonged contract negotiations between the player and the club, while Arsenal were said to be monitoring the situation and exploring a potential move.

The extension removes the prospect of Real losing one of their most valuable players ⁠on a free transfer.

Vinicius also had a demanding summer with ⁠Brazil at the World Cup, where they were eliminated by Norway in the last 16.

The forward has built an impressive trophy collection during his time in Madrid, winning two Champions League titles and three ⁠La Liga crowns among numerous other honours.

He is set to work under Jose Mourinho for the first time after the Portuguese ⁠coach returned for a second spell in charge ⁠at Real in June.

The appointment followed a disappointing campaign for the record 15-time European champions, who finished runners-up to archrivals Barcelona in La Liga, exited the Champions League in the quarterfinals and ended the season ‌without a major trophy.

Tying down Vinicius represents another significant step in an active transfer window for Real.

The club have also strengthened their squad with the arrivals of winger Yan ‌Diomande, ‌midfielder Bernardo Silva, centre-back Ibrahima Konate, left-back Marc Cucurella and wing-back Denzel Dumfries ahead of the new season.

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British authorities approve Paramount’s Warner Bros. deal

British regulators on Thursday cleared tech scion David Ellison’s $111-billion deal to buy Warner Bros. Discovery — the latest international agency to find the blockbuster combination of TV channels and historic film studios wouldn’t dampen competition.

Britain’s Competition and Markets Authority and the government’s culture minister separately reviewed Paramount Skydance’s proposed Warner acquisition, which is facing significant turbulence in the U.S. as California Atty. Gen. Rob Bonta leads a coalition of state attorneys general who are battling to try to unravel the mammoth deal.

“The evidence shows that, after the merger, Paramount will continue to face sufficient competition in the various areas it operates in, including the production and distribution of films and TV content, the supply of children’s channels to pay-TV providers and the supply of streaming services,” the authority said in a statement.

Earlier this summer, Secretary of State for Digital, Culture, Media and Sport Lisa Nandy said she was weighing whether to intervene by launching an in-depth investigation into potential harms that could result from the proposed Paramount-Warner Bros. combination.

Nandy opted not to issue an “intervention notice” after striking an agreement with Paramount that provides “assurances and legally-binding commitments” that the company would not abuse its market clout.

The authority’s approval was significant because Paramount owns CBS News, children’s channel Nickelodeon and Channel 5, one of the largest over-the-air television broadcasters in the United Kingdom.

Warner Bros. Discovery owns HBO, CNN, Cartoon Network and TNT Sports, which broadcasts the Olympics, Champions League and Premier League soccer matches.

Ellison and his team now have won clearances from 66 antitrust regulators, including the U.S. Department of Justice, and regulators in Australia, Germany, France, Italy, China and Canada, among others. The European Commission also approved the deal last month.

“These clearances recognize that the combination of Paramount and WBD will enhance consumer choice and enable a creative-first company to invest in more projects and bring stories to audiences worldwide,” Paramount said in a statement.

Still, the deal is stalled in the U.S.

Bonta and his fellow Democrat state attorneys general have won early victories in their court battle, and a federal judge this week scheduled a March trial — months later than Paramount had hoped — to determine whether the merger would violate the century-old U.S. Clayton Antitrust Act.

Paramount is facing a June 4 deadline to finalize the deal or pay Warner a $7-billion break-up fee.

Bonta and the 11 other state attorneys general, including from New York, Colorado and Oregon, have alleged the merger of two major film studios would give Paramount-Warner Bros. more than 25% of the wide-release theatrical film market. Their lawsuit contends the combined company would own too many cable TV channels — more than 50, including CNN, TBS, HGTV and Comedy Central.

The Writers Guild of America has separately sued to block the transaction, claiming the combination of two historic studios would reduce opportunities and pay for writers.

Ellison, in a guest essay this week, blamed politics for the U.S. friction. “The issue is whether I can be trusted as a steward of Warner’s CNN,” Ellison wrote in his op-ed in the New York Times.

Bonta, in a recent interview with The Times, denied his lawsuit was motivated by politics, saying it was a “meat-and-potatoes” antitrust case.

More than 5,000 entertainment industry workers, including such high-profile stars as Jane Fonda, Ben Stiller, Bryan Cranston and Mark Ruffalo, signed an open letter early this year, calling on Bonta to thwart the merger. The group alleged the transaction would weaken Hollywood with “fewer opportunities for creators, fewer jobs across the production ecosystem, higher costs, and less choice for audiences.”

Britain’s competition authority found the combined company would still encounter competition from Universal Pictures, Disney and Sony Pictures Entertainment and “a range of other smaller studios.”

In addition, the CMA factored in the competition brought by streaming services to traditional forms of movie and TV distribution — one of Paramount’s key arguments.

“Paramount is grateful to the CMA for its constructive engagement and its review of the transaction,” Paramount said in its statement. “These conclusions further demonstrate the misguided and gerrymandered market definitions relied upon by the US state AGs in their antitrust complaint in California.”

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Iran, Oman in final stages on Strait of Hormuz deal

Cargo vessels are seen July 21 at one end of the Strait of Hormuz near the coast of Dibba Al Fujairah, United Arab Emirates. Photo by stringer/EPA

Aug. 5 (UPI) — Iran and Oman are in the final stages of a joint agreement to manage commercial shipping in the Strait of Hormuz, agreeing on a route for ships Wednesday, the Iranian foreign ministry said.

However, Iran will not open the strait to traffic until the United States ends its blockade, the ministry said, CBS reported.

Iranian Deputy Foreign Minister Kazem Gharibabadi told state-run media that there is agreement between Iran and Oman on proposed inbound and outbound shipping routes in the strait, CNN reported.

Iran and Oman are on opposite sides of the strait, a major commercial waterway used for much of the world’s oil and gas supplies. They’ve been in negotiations over it for about three weeks. Before the United States and Israel attacked Iran in February, the strait was an open international waterway, but Iran closed it in response to the attacks.

“The geographic coordinates of the route envisioned by both sides have been agreed upon,” said Esmail Baghaei, spokesman for the Iran Foreign Ministry, told the country’s state news agency, as reported by The New York Times. “If certain third parties do not obstruct the process, a joint statement by the two countries,containing the principal considerations and points of agreement, is currently in the final stages of review and drafting.”

U.S. President Donald Trump told reporters there has been a lot of progress on reopening the strait and that it will reopen “soon,” perhaps even as soon as Wednesday or Thursday. However, Gharibabadi denied again that Iran is negotiating in any way over the waterway with the United States, CNN said.

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Daisuke Yokota: Rangers sign Japanese winger on three-year deal

Japanese winger Daisuke Yokota hopes to make “special memories” after joining Rangers from Hannover.

Yokota, 26, has joined on a three-year deal with the option of an additional year and becomes the Ibrox side’s ninth summer signing.

He moved to Germany as a teenager and spent time with FSV Frankfurt and Carl Zeiss Jena before stints in Latvia with Valmiera and in Poland with Gornik Zabrze.

A move to Belgian side Gent followed in 2024, but Yokota was unable to establish himself in the first team and was loaned to Kaiserslautern and Hannover.

Hannover signed him permanently earlier this summer off the back of five goals and four assists in the German second tier.

“I’m really excited to be joining Rangers,” Yokota told club media. “This is a massive club with a fantastic history, passionate supporters and high ambitions so it’s a proud moment for me.

“My aim is to help the team achieve success this season and I hope we can create some special memories together.”

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Yes, Emily Wilson, Odysseus has been changed for the movie. Deal with it

In the spirit of Zeus’ law to be generous toward guests, I’m honored to welcome classics professor Emily Wilson to the land of film criticism. As she’s recently learned, it’s an adventure that sails smack into islands of musky internet trolls and clashes with cinematic and literary titans like Christopher Nolan and Joyce Carol Oates.

Nolan credits the opening line of Wilson’s 2017 translation of Homer’s “The Odyssey” — “Tell me about a complicated man” — as partly inspiring his adaptation of the ancient epic, which, nearly a month into its release, is soldiering toward a billion-dollar box office gross. Symbiotically, Wilson’s edition is now the No. 2 bestselling book in the country. That Wilson’s incendiary essay in the London Review of Books revealed she doesn’t think much of Nolan’s blockbuster struck some as hubris, including Oates, who took to social media to decry the scholar’s “tone of dismissal” and “haughty superiority.”

If you haven’t been following the controversy, Wilson felt that Nolan had flattened the saga by mostly erasing the Greek gods and Odysseus’ wit, lust and thorny contradictions. Oates likened the tone of Wilson’s critique to the “crude language of MAGA folks.” In short: Wilson snuck a 2,700-year-old poem through the gates of mainstream taste — and after that victory, her arrogance left her marooned.

Sounds familiar if you’ve read Homer. Less so if you’ve only seen the film. Wilson is right that Nolan’s movie lacks Odysseus’ egomaniacal brilliance.

I’m here to play peacemaker. Wilson adores Odysseus so much that she has his bow tattooed on her right leg. Frankly, Nolan doesn’t seem to like the wily, libidinous and violent trickster-veteran of the poem — half Rhett Butler, half Rambo in “First Blood” — as much as Wilson or I do. Because if he did, that Odysseus would be onscreen.

spot illustration of Odysseus cut out from the background and tinted blue

But having seen his movie twice, it’s obvious that Nolan is less interested in Wilson’s first line than her fifth: “Tell the old story for our modern times.” That, he’s done. His take on Homer is, as I wrote in my original review, “a moralistic ‘Oppenheimer’ prequel.” For the record, I like it anyway.

Film critics and translators start work in the same place. Step one: What is the artist’s intent? Wilson considered the entirety of Homer’s tale and decided the right word for polytropos was “complicated.” I weighed what Nolan chose to protect, tweak and abandon in his own version and concluded that he wanted to make an action-tragedy about societal decline.

Movies must be measured against their own ambitions. A stoner comedy can’t be graded like a Shakespearean drama (and vice versa). Here’s where Wilson runs aground. She wants to allow Nolan creative freedom, knowing that the Greek playwrights rebooted figures like Odysseus and Medea just like Marvel treats Spider-Man. There’s even a spinoff of the original poem in which Odysseus has kids with Circe.

Yet, storytellers have to protect the core of their characters. Medea must be angry, Spider-Man must be helpful and Odysseus, dang it, must have swagger. Damon doesn’t.

This is why Wilson deserves empathy even if she can’t bring herself to grant Nolan the same grace. As a professor of classics at the University of Pennsylvania, she’ll be on the front line of academics condemned to unteach Nolan’s heavily altered screenplay to students who will arrive quoting it chapter and verse. For decades to come, high school kids — probably even a few high school teachers — are just going to pop in his Blu-ray and call it a day.

Nolan does hit his target, eventually. Yet his script wobbles. He’s made a movie about Odysseus’ remorse for inventing the Trojan horse without a crucial scene: the moment he invents it. We see Odysseus silently stroll the beach outside Troy, but not the pride he must have felt running back to base to pitch an idea that will finish the war and let his allies go home. The emotional arc Nolan wants to trace should start there. The beat’s absence is confounding since Odysseus also needs to appear clever (and never does).

This is what it means to measure a film against its ambitions. Only after we accept that Nolan is solely interested in human mistakes can we gauge his disregard for the Greek gods. I dig that choice — it’s bold — yet still think he flubs it by not replacing the magical powers of Charlize Theron’s Calypso and Zendaya’s Athena with, say, a personality. What a waste of two terrific actors. It’s no wonder Oates stuck up for him. Her novel “Blonde” also stripped the agency from love goddess Marilyn Monroe and its own 2022 movie adaptation launched a thousand hot takes.

There will never be a faithful modern film version of “The Odyssey.” No, not even whatever AI slop Elon Musk claims he’s green-lighted, a project I’m sure will come to fruition as fast as his any-year-now claim that he’s landing on Mars.

The issue isn’t just the poem’s length. It’s that today’s audiences have zero stomach for happy endings about horrible wrongs. We can barely rationalize the slaughter of the suitors. No one wants to watch Homer’s gory scene after that, when Telemachus cruelly orders a dozen enslaved girls to clean up the mess and then executes them too.

Only a seven-and-a-half hour Italian miniseries produced by Dino de Laurentiis in 1968 dares mention that second bloodbath and even in that, the women are hung offscreen after we’ve been assured (fictitiously) that the maids tried to kill them first. (Side note: Dino’s Penelope, played by the mighty Irene Papas, is my favorite.)

Previous movie adaptations of “The Odyssey” soft-pedal or ignore the hero’s postwar PTSD. You catch a glimpse of it in the two-part NBC special from 1997 in which Armand Assante’s Odysseus rescues a Trojan toddler. But mainly, he spends more time hot-tubbing with Vanessa Williams’ Calypso.

That’s not a knock. The ’90s “Odyssey” is as tacky as Caesars Palace but Assante’s smooth-talking horndog is closer to my ideal Odysseus than Damon’s neutered mope. He sleeps with both Calypso and Circe and still earns his tender reunion with Penelope by choosing her beloved wrinkles over those gods’ immortal perfection. (For what it’s worth, Oates is a fan of it too. Wilson has yet to comment.)

Only the two most recent versions — Nolan’s and Uberto Pasolini’s 2024 “The Return,” starring a sinewy Ralph Fiennes — center on Odysseus’ culpability for the carnage of the Trojan War. Damon’s Odysseus is numbed by the massacre of Troy’s civilians; Fiennes’ hates himself for leading the best men of Ithaca to their death, gutting his own community in the heedless destruction of another. I’m tempted to diagnose the current gloom as the result of our own post-9/11 forever wars.

The 21st century has seen enough genocide for Homer to compose a hundred sequels. Only those stubbornly ignorant to the human cost of actual combat would be psyched to bring on more of it. (Just ask the veterans in my family how they feel things are going in Iran.) At the end of “The Return,” when Fiennes stands entrail-smeared before his beloved Penelope, she recoils from the horror of the battlefield brought right into their home.

That interpretation has its flaws too. The middle stretch has a concocted outdoor chase sequence that feels like a clumsy campground slasher. Wilson applauded its “stylish sparseness.” Fair enough. I’d still love to invite her and Nolan and even Oates to a banquet of wine and roasted fowl and have a blast agreeing to disagree. No weapons allowed.

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Paramount’s David Ellison says critics don’t get his politics

Paramount Chairman David Ellison believes the tug-of-war over his proposed $111-billion purchase of Warner Bros. Discovery comes down to a single question: whether he can be trusted to control CNN.

“I believe this fight is not really about market share,” Ellison wrote in a Tuesday op-ed in the New York Times, noting that regulators around the world, including the U.S. Justice Department, have approved the deal that has been temporarily blocked by an antitrust lawsuit brought by California Atty. Gen. Rob Bonta and his coalition of Democrat state attorneys general.

“I believe a plainer worry sits beneath the briefs and the news releases … The issue is whether I can be trusted as a steward of Warner’s CNN,” Ellison wrote.

The rare opinion piece serves as Ellison’s acknowledgment that his family’s close association with President Trump has sullied his standing in Hollywood and beyond.

Shakeups at CBS News, which is part of Paramount, the departure of CBS late night host Stephen Colbert, and a visible presidential lobbying effort — including hosting a dinner for Trump in Washington in late April and attending Trump’s birthday extravaganza in June with UFC fights on the White House lawn — have come with a cost.

More than 5,000 entertainment industry workers, including such high-profile stars as Jane Fonda, Ben Stiller, Bryan Cranston and Mark Ruffalo, signed an open letter early this year, calling on Bonta to try to block the merger.

Bonta and the other state attorneys general sued, saying the merger of two of the major film studios would give Paramount-Warner Bros. more than 25% of the wide-release theatrical film market. Their lawsuit also alleged the combined company would own too many cable TV channels — more than 50, including CNN, TBS, HGTV and Comedy Central.

Many in Hollywood fear that the consolidation of two historic studios will bring thousands of layoffs and contribute to a bleaker employment picture. Ellison’s Skydance Media’s takeover of Paramount a year ago resulted in the loss of 2,000 jobs.

Some have opposed the Warner Bros. deal, saying one family shouldn’t be allowed to control two significant news operations: CBS News and CNN, which is owned by Warner Bros. Discovery.

“There has been speculation about my politics, my loyalties, my intentions,” Ellison wrote.

“Unfortunately, I can’t give anyone a view into my heart and mind, but I can share this: I have regularly voted for candidates of both parties; I hold some views that would be called conservative and others that would be called liberal, just like most Americans,” Ellison said. “And when it comes to our news operations, I do not aspire to lead these companies to bend their newsrooms to my views. I believe that news should be based on facts and truth.”

“Great news organizations like CNN and CBS News are here to tell it straight down the middle,” he said. “That requires newsrooms that reflect the whole world, not one side of it. And it requires independence. Our journalists will continue to answer to the facts and to all the people they serve — not to any party or cause.”

“These were founding principles for both CNN and CBS News, for legends like Ted Turner and Edward R. Murrow, and it is exactly that kind of independence that has always fueled the greatness of “60 Minutes,” Ellison wrote.

Fired “60 Minutes” correspondents, including Cecilia Vega, have complained that since Bari Weiss became editor-in-chief of CBS News last fall, journalists have been asked to tilt the presentation of controversial news events, including protests to Immigration and Customs Enforcement actions earlier this year in Minnesota, which led to the deaths of two Americans.

Paramount has pushed back saying the plaintiff states have defined markets that fail to factor in the rise of technology companies, including Netflix, Google’s YouTube and Amazon Studios, which also attract significant swaths of viewership.

The Writers Guild of America has separately sued to block the merger, saying the deal would lead to less opportunities and lower pay for writers struggling to stay in the industry.

U.S. District Judge Araceli Martínez-Olguín, who is overseeing the high-profile case, issued a temporary restraining order to block the merger from finalizing while the two sides hash out the evidence. Late last month, Paramount agreed to delay the merger until after a trial — or until June 1, whichever date comes first.

In court documents filed Friday, Bonta and his coalition of 11 other Democratic attorneys general proposed having a two- to three-week trial in April to weigh the evidence.

Ellison’s Paramount pushed back, saying the media company would like to start the courtroom action on Nov. 4.

Now the judge must schedule the court date.

“The states claim this deal will give one company too much influence over theatrical releases and cable operators, while the W.G.A. argues that our combined market power will hurt writers,” Ellison said in the opinion piece. “Both suits imagine a Hollywood that no longer exists — an industry ruled by a handful of legacy studios.”

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‘One last chance’: The times Trump threatened Iran, said deal imminent | US-Israel war on Iran

Just over one month into the war on Iran, US President Donald Trump made an apocalyptic threat that raised the alarm in Washington and Middle Eastern capitals alike, attached to a tight deadline.

If Iran didn’t immediately reopen the critical Strait of Hormuz, Trump warned on April 7, “a whole civilisation will die tonight, never to be brought back again”.

Tehran didn’t blink. And with two hours to the deadline, Trump walked back the threat and instead announced a two-week ceasefire, brokered by Islamabad.

Since then, the US president has repeated this pattern multiple times. It goes like this: Trump ups the ante, shaking up the markets, and then dials it back down at the 11th hour, apparently hoping this strategy will influence negotiations.

On Monday, Trump again insisted that negotiations were close to ending the war – and, yet again, gave “duplicitous” Iran “one last chance” to make a deal or suffer catastrophic strikes.

For its part, Tehran denies any ongoing talks with the US, saying it is only talking to Oman about how to manage the Hormuz strait, the closure of which has caused oil prices to soar amid havoc in energy markets around the world.

The war is now in its 23rd week, with no end to hostilities in sight, and both Washington and Tehran are more entangled than before, with additional variables in the conflict that could determine its direction.

So, how many times has Trump given Iran “one last chance” to make a deal or suffer the consequences, before walking his threat back? And how many times have we heard from the US president that a deal is just around the corner?

US President Donald Trump gestures after stepping off Air Force One upon arrival at Morristown municipal airport in Morristown, New Jersey, on July 31, 2026
US President Donald Trump gestures after stepping off Air Force One upon arrival at Morristown municipal airport in Morristown, New Jersey, on July 31, 2026 [Aaron Schwartz/AFP]

The times Trump threatened heavy attacks – before backing down

There have been several times since February 28, when the US and Israel launched their first joint attacks on Iran, that Trump has threatened an attack but did not follow through.

March

Less than a month into the war, Trump threatened Tehran over its closure of the Strait of Hormuz, saying the US would strike Iran’s power plants if the critical waterway was not reopened. Two days later, he postponed the strikes for five days, citing “progress” in talks.

As the delayed deadline neared on March 26, Trump delayed the strikes again, this time for 10 days, claiming that Tehran requested it.

April

Then came the April 7 threat that a whole “civilisation will die”, before Trump called off those strikes and announced a two-week ceasefire, to give Iran a chance to reach a peace deal.

No deal emerged. And then, after threatening to strike Iran “harder”, and in the final hours of the ceasefire, on April 21, Trump announced an indefinite ceasefire, saying Pakistani mediators had asked him to do so.

May

With those talks making no progress, Trump returned to his threats to strike Iran on May 17, saying “nothing will be left” of Iran if Tehran did not make a deal with the US.

But the next day, Trump again told reporters that he had decided to “put it off for a little while, hopefully maybe forever, but possibly for a little while, because we’ve had very big discussions with Iran”.

By May 27, US strikes were back on after negotiations faltered, once again.

June

On June 11, after two days of back-and-forth strikes, Trump threatened the US would take “total control” of Iran’s oil and gas industries. But then, a few hours later, he posted on social media, claiming there had been a breakthrough in negotiations and called off the attacks.

On June 17, the US and Iran signed a Memorandum of Understanding (MoU), announcing a ceasefire and a 60-day period to complete negotiations for a lasting peace. Within days, that had fallen apart over the glaring gaps in the two sides’ positions over the contents of the MoU, triggered mainly by who had control of the Strait of Hormuz – and both sides returned to tit-for-tat, widening strikes.

July-August

On July 27, Trump halted the strikes, claiming the “perimeters of a deal” had been agreed to, but noting that Washington “is locked and loaded and ready to go against the Islamic Republic of Iran, at levels of Military Terror, Strength, and Power not seen since World War II”.

On Monday this week, Trump told reporters again that negotiations were close to ending the war and that this was Iran’s “last chance before decapitation”. The US has not followed up on this latest threat yet.

Iran denies it is talking to the US, although it may be holding indirect talks via mediators, analysts say.

US President Donald Trump looks on during an announcement about Dulles International Airport renovations in the Oval Office of the White House in Washington, DC on July 29, 2026 [AFP]
US President Donald Trump looks on during an announcement about Dulles International Airport renovations in the Oval Office of the White House in Washington, DC on July 29, 2026 [AFP]

The times Trump said Iran peace deal was imminent

Trump has insisted that Iran is “desperate” to cut a deal, or that a deal is imminent, multiple times since the start of the war.

March

Two days after launching the first attacks on Tehran on February 28, which the US initially appeared to believe would be a quick operation, Trump seemingly conceded it might take a bit longer when he said at the White House: “We projected four to five weeks [to end Iran war], but we can go far longer than that.”

The US president changed tack again on March 9, when he told CBS that “the war is very complete, pretty much”, and that the US military operation was “way ahead of schedule”.

Later the same day, he shifted his stance again, saying the war is “both complete and just beginning”. And later that day again, he said: “We’ve already won in many ways, but we haven’t won enough.”

On March 23, Trump told reporters outside Air Force One that “major points of agreement, I would say – almost all points of agreement” had been reached with Iran. Tehran was denying that it was party to negotiations at this point.

Two days after that, Trump repeated that Iran wanted to “make a deal so badly”. The next day, he also told a cabinet meeting that Iran was “begging to make a deal”.

April

On April 7, Trump said, again, that Washington was “very close to a deal” with Iran, before threatening to blow up a “whole civilisation”, but then walked back on that to announce a ceasefire the next day.

Over the following days, throughout April, Trump reiterated that the war was, in fact, pretty much over. But it continued.

Trump repeatedly claimed on separate occasions that Iran had “agreed to everything”, that “I think we will get a deal in the next day or two”, and that “I don’t think there’s too many significant differences” between the US and Iranian positions.

May

On May 23, Trump said the administration was “getting a lot closer” to a deal, which was “largely negotiated, [and] subject to finalisation”.

June

On June 8, Trump called for “total victory” in the next two weeks and claimed Iran was “willing to give us everything”. Still, no peace deal has materialised and the conflict began again in July.

August

On Monday this week, Trump again told reporters that Iran was “desperate” for a deal and warned Tehran it had “one last chance” before “decapitation” to make an agreement. Iran denies it is even holding talks with the US, saying that it is only speaking with Oman about management of the Strait of Hormuz.

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Dodgers acquire Ben Rortvedt from the Mets in trade-deadline deal

The Dodgers added catching depth on Monday with a familiar name.

They acquired journeyman backstop Ben Rortvedt from the Mets for right-hander Chayce McDermott, the team announced hours before the trade deadline.

The move marked the third time in a little over a year that the Dodgers have acquired Rortvedt. They also traded for him before the deadline last year and claimed him off waivers for several days in February.

The Dodgers designated McDermott for assignment on Friday in the midst of a reliever shuffle to prepare for a bullpen game.

The team felt comfortable with backup catcher Dalton Rushing taking on the bulk of the catching duties while catcher Will Smith continues to work back from a lingering neck injury that’s kept him sidelined since early June. But depth at the physically taxing position is always valuable.

That point was highlighted Sunday, when the Dodgers scratched Rushing from the lineup with what they called minor arm irritation.

In Rortvedt, the Dodgers bring in an experienced catcher who is familiar with their pitching staff back into the organization. Not on the Mets’ 40-man roster, Rortvedt has spent the season in Triple-A Syracuse, where he posted a .733 OPS.

Also Monday, the Dodgers acquired left-handed pitcher Kris Bubic from the Kansas City Royals for right-hander Carlos Duran, according to a person familiar with the but not authorized to speak publicly. Bubic, who is on the 60-day injured list with left elbow soreness, last pitched on May 14 against the Chicago White Sox. He made 20 starts last year for the Royals, going 8-7 with a 4.11 earned-run average.

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GOP holdouts say they will back Blanche’s attorney general nomination after striking deal over fund

Two Republican senators who threatened to block acting Atty. Gen. Todd Blanche’s bid to lead the Justice Department said Monday that they will vote to advance his nomination, ending an impasse over plans to create a fund to compensate allies of President Trump.

The statement from Republican Sens. John Cornyn and Thom Tillis came after Blanche issued an order late Sunday formally rescinding the $1.8 billion “Anti-Weaponization Fund” to compensate people who believe they were unfairly prosecuted by the Justice Department.

Cornyn and Tillis, whose votes Blanche needs to advance through the Senate Judiciary Committee on Tuesday, had said they would not endorse his nomination without written confirmation that the fund is dead.

“We want to express our gratitude to Mr. Blanche and his staff for working with us on this, and we look forward to voting to advance his nomination out of the Senate Judiciary Committee soon,” Cornyn and Tillis, who are not returning to the Senate next year, said in a statement.

DOJ order says ‘beyond any doubt’ that fund is dead

In a statement accompanying the order, the Justice Department said that “although the Acting Attorney General has repeatedly advised Congress through testimony, including under oath, as well as in written responses, that the Fund is not moving forward, and the Department has repeatedly represented to district courts that the Fund is not moving forward, today’s Order officially rescinds the May 18, 2026 Order.”

Since the settlement of the president’s lawsuit against the IRS was announced, “No Members were appointed; no funds were transferred; no process for receiving claims was established; no claims were paid,” the order says. “This order establishes, beyond any doubt, that there is no Fund.”

The document released by Blanche on Sunday night also limits the scope of another provision of the settlement that provided broad immunity for Trump and members of his family from tax audits.

The deal clarifies that the tax audit immunity agreement “applies by its terms only retroactively” to claims open at the time of the settlement and does not protect the president from examination of future tax filings.

Cornyn, who lost reelection this year after Trump endorsed his primary opponent, and Tillis, who is retiring when his term ends in January, have blocked Blanche’s nomination as many of their GOP colleagues have criticized the fund.

The Judiciary Committee postponed a vote on Blanche’s nomination that had been scheduled for Thursday morning after Tillis and Cornyn said they needed more from the administration before they could provide the necessary votes.

The two senators have repeatedly said the Justice Department seemed interested in reaching an agreement, but the White House wouldn’t budge even to aid the confirmation of Trump’s loyal former personal attorney, who has aggressively pursued the administration’s priorities as acting attorney general.

“I think as far as Blanche and the Department of Justice, we were pretty much on the same page,” Cornyn said Thursday. “But then when the president got wind of it, he wasn’t willing to go along with it.”

Trump continues to express support for his settlement

The two sides have been negotiating for weeks, but Trump has said repeatedly during the talks that he thinks the fund should go forward and threatened to move forward with it if Blanche was not confirmed.

After the Thursday vote was delayed, Trump said in a social media post that he might pull Blanche’s nomination and resubmit it after Cornyn and Tillis leave office next year.

On Sunday evening, Trump said that people who had faced charges from the Jan. 6, 2021, attack on the Capitol and could have benefitted from the fund had “their lives destroyed.”

“This would be a reimbursement for the pain that they suffered,” Trump said. “A lot of people like it.”

Jalonick and Richer write for the Associated Press.

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South Korea signs deal to build first homegrown air-defense destroyer

A front-view rendering of the KDDX next-generation destroyer. Photo courtesy of Hanwha Ocean

July 31 (Asia Today) — South Korea’s arms procurement agency signed a contract with Hanwha Ocean on Friday for the detailed design and construction of the first KDDX next-generation destroyer.

The agreement moves the long-delayed naval program into its full design and construction stage after nearly three years of disputes over the selection of a shipbuilder.

The lead ship is scheduled to be delivered to the South Korean Navy by the end of 2032.

The Defense Acquisition Program Administration said KDDX will be South Korea’s first large destroyer built with a domestically developed hull, combat management system, multifunction radar and other core weapons systems.

Although the vessel is sometimes described in South Korea as a Korean-style Aegis destroyer or a mini-Aegis ship, it is not expected to use the U.S.-developed Aegis Combat System.

Instead, the destroyer will combine a South Korean integrated combat system with an indigenous phased-array radar to detect, track and engage aircraft, missiles, ships and other threats.

The contract for the detailed design and lead ship is valued at about 882.1 billion won, or about $617 million.

The entire program, including five additional destroyers, is expected to cost about 7.8 trillion won, or $5.46 billion.

The government has not determined which companies will build the five follow-on ships or how those contracts will be awarded.

Contract ends prolonged shipbuilder dispute

Hanwha Ocean, formerly Daewoo Shipbuilding and Marine Engineering, completed the KDDX conceptual design.

HD Hyundai Heavy Industries later conducted the basic design, leading to expectations that it would receive a negotiated contract for the detailed design and lead ship.

Hanwha Ocean instead called for a competitive bidding process, citing a military-secrets case involving HD Hyundai Heavy Industries employees.

The acquisition agency accepted that request and held a competition.

Hanwha Ocean and HD Hyundai Heavy Industries were reportedly separated by less than 0.6 point in the final evaluation.

A 1.2-point security penalty imposed on HD Hyundai Heavy Industries was considered decisive.

Employees of the company had been convicted of photographing or improperly handling military secrets related to the KDDX program.

Hanwha Ocean was selected as the preferred bidder June 11. The company’s selection had previously been reported as part of a six-ship program valued at approximately 7.8 trillion won or $5.46 billion.

HD Hyundai Heavy Industries challenged the evaluation but its objection was rejected in early July. Negotiations between the acquisition agency and Hanwha Ocean then led to Friday’s final agreement.

The contract was signed before all cost data were finalized. The final value may therefore be adjusted to reflect verified construction expenses.

South Korean systems to replace foreign equipment

The KDDX is expected to displace about 7,000 tons when lightly loaded and will be larger than South Korea’s Chungmugong Yi Sun-sin-class destroyers.

It will be smaller than the Navy’s Sejong the Great and Jeongjo the Great-class destroyers equipped with the American Aegis system.

The ship will feature a low-observable design and an integrated mast intended to reduce its radar signature.

Planned armament includes a 5-inch naval gun and South Korean vertical launch systems capable of carrying surface-to-air, anti-ship, land-attack and anti-submarine weapons.

The exact number of vertical launch cells has not been officially confirmed.

The acquisition agency said major systems, including the combat management system, sonar, multifunction phased-array radar and ship-launched surface-to-air missiles, will be developed domestically.

South Korea plans to apply technologies developed since the basic design was completed, including digital-twin construction, layered counter-drone defenses and a communications environment using 5G and integrated wired and wireless networks.

A digital twin is a computerized replica of the ship that can be used to test design changes, construction procedures and equipment performance before work is carried out on the physical vessel.

The Navy is also considering integrated electric propulsion to reduce noise and improve anti-submarine survivability.

Automation is expected to reduce the number of sailors required to operate the ship compared with older destroyer classes.

Schedule remains a challenge

The KDDX basic design was completed in December 2023 and the detailed design and lead ship construction were originally expected to begin soon afterward.

Disputes between Hanwha Ocean and HD Hyundai Heavy Industries delayed the program by about two years.

The acquisition agency and Hanwha Ocean will now need to shorten portions of the development and construction schedule to meet the 2032 delivery target.

Jung Jae-jun, head of the acquisition agency’s force resources division, described KDDX as a national project bringing together South Korea’s shipbuilding and defense capabilities.

Jung said the government would examine several options for the construction of the follow-on vessels while seeking to deploy the new destroyers on schedule.

He said the program could also strengthen the international competitiveness of South Korean naval vessels.

Hanwha Ocean previously said it felt a significant responsibility after being selected as the preferred bidder and would work with the government to normalize the delayed program.

Competition between Hanwha Ocean and HD Hyundai Heavy Industries is expected to continue as the government determines how to award contracts for the five remaining destroyers.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260731010011621

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Trump touts Hamas disarmament deal, but uncertainties remain

President Trump reaffirmed Friday that Hamas has agreed to disarm and relinquish control of Gaza to a newly created Palestinian government, a milestone he cast as a critical step in the long-stalled effort to end the war in the territory.

The agreement, which the president initially announced in a Truth Social post Thursday evening, capped months of negotiations overseen by the Board of Peace, a body created by the Trump administration last year to oversee talks with Hamas and Israel over the future of Gaza.

“As disarmament is completed, Israeli forces will withdraw, and the International Stabilization Force will work with a new Palestinian police force to take responsibility for Gaza being safe for its residents and its neighbors,” Trump wrote.

But uncertainty looms over the agreement, with Hamas saying Friday it would begin disarming only if Israel halts all military operations in Gaza and Israeli officials expressing skepticism about the deal in news interviews Friday. Trump, during a Cabinet meeting Friday at Camp David, Md., acknowledged the possibility of the deal going awry, saying it is likely the agreement’s implementation could go through its “ups and downs.”

“It’s a very complex situation over there,” Trump said. “The people are very complex and difficult.”

Trump added that Israel was “very happy” with the deal. He also said that the Board of Peace intends to take possession of Hamas’ weapons when it relinquishes them.

Trump, who faces public pressure over his handling of a broadening war in Iran and the economic impact it is having on Americans, downplayed the unpopularity of his policies and said he hopes Americans vote for Republicans when they head to the polls in November.

At the same time, he defended his military strategies in the Middle East, even as he was unable to provide a clear timeline for when the conflict in Iran will end.

“We’re in for five months, and we have obliterated their military capacity. Again, they’ve got some left, but soon they won’t have some left,” Trump said. He added that he was “losing faith” in Iranian leaders amid negotiations because he said they “lie.”

Trump, however, argued that the deal with Hamas is an indication that his administration’s strategy will succeed in Iran.

“Nobody thought that it would be possible to disarm Hamas. That shows you how much success we’re having with Iran, because if you went four months ago or five months ago, a deal like that would have been impossible,” Trump said.

Hamas, for its part, has confirmed it would begin disarmament, but in a statement Friday said it was contingent on Israel halting all attacks in Gaza and fulfilling provisions of the first phase of a ceasefire deal that was signed in October 2025.

Hamas, which said it was approaching the proposal with “responsibility and positivity,” also took the unprecedented step of agreeing to a sequenced decommissioning of a range of armory, described to include: “police weapons, heavy weapons, military production sites, weapons depots and tunnels, personal weapons and the weapons of militias.”

But the group linked it to a raft of processes, including Israel’s withdrawal from the enclave and the establishment of an independent Palestinian state — both nonstarters for Israel’s government.

Israeli Prime Minister Benjamin Netanyahu had yet to comment on the proposal by Friday afternoon, but several Israeli officials expressed skepticism if not outright rejection of the proposal.

“In response to various publications this morning about political progress in the Gaza Strip, Israel has reiterated that there will be no IDF withdrawal from the current Yellow Line without the genuine disarmament of Hamas,” a senior Israeli official was quoted as saying in the Times of Israel newspaper.

The official referred to the demarcation line behind which Israeli troops withdrew under the ceasefire agreement. When the agreement went into effect in October 2025, the Yellow Line marked off territory comprising about 53% of Gaza. But Israel has repeatedly shifted the line westward, swallowing up more of the enclave with the intent to control 70% of it, according to Israeli officials.

Speaking to CNN on Friday, Danny Danon, Israel’s ambassador to the United Nations, said Israel would have to verify what Hamas is doing with regard to disarmament, “not what they are saying.”

“Disarmament means the weapons are out of Gaza,” he said. He added that the idea of a Palestinian state was “not on the table.”

And in an example of the fervent opposition the deal is likely to face in Israeli political circles, Israeli National Security Minister Itamar Ben-Gvir — a hard-line member of Netanyahu’s government — dismissed the deal as “unacceptable” and that suspending Israel’s attacks on the enclave would only allow Hamas to reconstitute itself.

“The assassinations in Gaza must continue, the encouragement of [Palestinian] emigration [from the enclave] must happen. Israel must win,” he said in a post on Telegram.

The agreement as laid out by the Board of Peace involves a 15-point “roadmap” with several provisions, including security, governance, reconstruction, the deployment of international peacekeeping forces and Israeli withdrawal. Those points, which were agreed to Thursday, are meant to carry out Trump’s broader plan for the territory.

All parties reaffirm their commitment to the “comprehensive plan” announced by Trump in September, which involves stopping the fighting in Gaza, complete Israeli withdrawal from the strip, and “a credible political path that achieves self-determination and [Palestinian] Statehood.”

Israel should “without delay” fulfill its remaining commitments in phase one, including cessation of military attacks. Hamas too should stop all attacks “without delay,” the agreement says.

Once those milestones are reached, the Palestinian-led National Committee for the Administration of Gaza, or NCAG — which Israel has thus far prevented from entering Gaza — would take on responsibilities in the strip, along with an International Verification Committee that will certify progress on both sides.

The NCAG administers the police force and controls its weapons, and will eventually become the only party in Gaza with arms. It will also administer and implement a process to decommission and store heavy weapons, military production sites, depots of weapons, and tunnels.

The process will be linked to a phased Israeli withdrawal.

Regional and Western governments welcomed the proposal’s announcement while acknowledging the difficulties facing its implementation. It also brought a measure of cautious hope in Gaza, where more than nine months after the ceasefire was signed conditions remain nightmarish.

Since Oct. 7, 2023, when Hamas launched an assault on southern Israel in which 1,200 people were killed and 250 others were kidnapped, the enclave has been the target of a furious Israeli military campaign that has killed more than 73,000 people and displaced nearly all of Gaza’s 2.1 million residents. Much of Gaza is a rubble-encrusted moonscape, spurring rights groups and the U.N. to accuse Israel of genocide.

Despite Trump’s optimism, the deal comes at a delicate moment for Israel’s leaders, as the country gears up for an acrimonious election fight at the end of October that could see Netanyahu — who is on trial for corruption charges and could be imprisoned if he loses — dethroned.

Already trailing in the polls, he can ill afford appearing soft on Hamas, especially among a pool of candidates eager to excoriate him for his post-Oct. 7 legacy.

“The outrageous gap between Netanyahu’s promises and reality is exposed. After the heavy prices, the fallen and the wounded, he has capitulated in his political weakness without achieving the war’s objectives, instead of ending it from a position of strength,” said Gadi Eisenkot, an election contender and the former military chief of staff responsible for the Dahiyah Doctrine, the Israeli military’s strategy of targeting large-scale civilian infrastructure.

“The State of Israel must not accept a reality in which Hamas survives, rearms, and waits for the opportunity to carry out the next massacre!” Eisenkot wrote on X.

At the same time, with Trump already facing criticism for joining the Israeli leader in assaulting Iran, Netanyahu can’t be seen as scuttling a Trump-brokered agreement in Gaza.

Ceballos reported from Washington, Bulos from Beirut.

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Trump says Hamas disarmament deal will be complex to deliver | Newsfeed

NewsFeed

Trump said Israel strongly supports an agreement for the complete disarmament of Hamas, describing it as a major breakthrough that marks a significant step for the Middle East. He cautioned the process would likely face “ups and downs” because of the complexity of the situation.

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Netflix expands ‘The Walking Dead’ deal, but loses exclusive hold on zombie franchise

Under a new licensing agreement, Netflix will be streaming “The Walking Dead” franchise globally.

Netflix and AMC Global Media, the network that originally aired the zombie series, inked a new five-year co-streaming deal, according to a press release on Thursday. Both companies will be able to show the original “The Walking Dead” series and its six spinoffs on Netflix and AMC+. The deal is valued at $500 million, AMC Global Media said in its second-quarter earnings report.

“This deal creates a global destination for this universe — all shows, all episodes — making the franchise more accessible than ever to fans around the world. In addition, the co-exclusive agreement allows us to bring the original series to AMC+ for the first time early next year,” Kristin Dolan, the company’s chief executive, said in a statement. “This agreement is a fantastic result for our companies, for the fans and for this timeless IP.”

AMC Global Media is renting the franchise, not selling it. The five-year licenses run separately for each show, with start dates that vary based on territory and the expiration of existing streaming deals. The rights to “The Walking Dead” revert to AMC Global Media when the term ends.

The company also keeps global rights to run the “Walking Dead” universe on its own services throughout. Dolan told investors the agreement would supply what she called “a meaningful source of cash flow for years to come,” framing it as evidence that the company’s library still commands premium prices even as its cable business shrinks.

The agreement will extend the franchise’s reach on Netflix in places like the U.K., Italy, Australia and New Zealand — making episodes available beginning in 2027.

“The Walking Dead” premiered on the AMC network in 2010, introducing audiences to the high-stakes world of a zombie apocalypse. In 2011, the series began streaming exclusively on Netflix in the U.S. The show aired for 11 seasons and became one of AMC’s most influential shows. Other popular programs from the network include “Mad Men” and “Breaking Bad.”

“Audiences have discovered and loved ‘The Walking Dead’ on Netflix for nearly 15 years and the show continues to attract new fans,” Lori Conkling, Netflix’s vice president of licensing, said in a statement.

The deal landed alongside a rough quarter. AMC Global Media reported second-quarter revenue of $547 million, down 9% from a year earlier, and a loss of 51 cents a share, compared with 91 cents in profit in the same period last year. Operating income fell to about $16 million from $64 million.

Netflix’s second-quarter earnings showed mixed results. The company‘s revenue rose 13% to $12.6 billion; its net income was $3.4 billion, up 9% from a year ago; and its advertising business is on track to reach $3 billion in revenue this year, double the amount in 2025.

The same filing offered some details on Netflix’s acquisition of InterPositive, the AI post-production startup founded by Ben Affleck, for $587 million in cash in March.

But Netflix’s stock price has continued to waver due in part to investor concerns about the streamer’s future growth.

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Premier Inn launches new Kids Eat Free deal which includes ALL meals including breakfast, lunch and dinner

WHAT’S better than a hotel stay? One that comes with a free meal of course.

During the summer holidays, Premier Inn is offering free kids meals throughout the day in over 370 locations across the country.

Premier Inn has launched its new Kids Eat Free deal on breakfast, lunch and dinner Credit: Mike Egerton/PA Wire
Up to two children under 15 can eat for free with every paying adult Credit: Premier Inn

Premier Inn’s new Kids Eat Free deal is in place from now until September 1 at hundreds of its hotels – and you can check which ones here.

With the offer, up to two children aged 15 or under can eat for free with every paying adult.

So in the morning when an adult orders a Full Breakfast with all the trimmings from £10.99, kids can fuel up too.

Premier Inn offers unlimited cooked breakfast and continental with unlimited soft and hot drinks.

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In the afternoon or evening, up to two kids can choose from the children’s menu and have one free main meal per each paying adult.

On the children’s menu are dishes like 10-veg tomato pasta, spaghetti bolognese, pizzas, burgers, fish bites and poppin’ chicken.

Adults can opt for one main dish or a Meal Deal from £27.99 – it’s a two‑course dinner with a selected drink in the evening.

Adults can choose from dishes like fish and chips, curry, steak, salmon, pizza and a variety of burgers – which Sun Travel gave their verdict on.

There are lighter options too like the house Caesar salad, sweet and sour kings prawns and nourish bowls.

Premier Inn has also reduced the VAT on children’s meals saving 20 per cent on any additional kids’ meals not included in the free deal.

Premier Inn’s new Kids Eat Free deal ends on September 1 Credit: Premier Inn

Here are the Ts&Cs for the Kids Eat Free Deal…

Kids Eat Free Breakfast: Up to 2 children (aged 15 and under) can enjoy a free breakfast for every adult purchasing a Full Premier Inn Breakfast.

Kids Eat Free Lunch/Dinner: Up to 2 children (aged 15 and under) can have one free main from the kids’ menu (small or large, if available) per adult.

The adult must order a main course from the core evening menu and a drink priced at £1.99 or more. For guests who have purchased a meal deal, this will count as a ‘main’.

Drinks will be charged at full price. This offer is only valid until September 1, 2026 inclusive across selected Premier Inn Thyme restaurants.

For more details of which locations are included please visit the website.



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Tuli Tuipulotu sitting out of practice as he chases Chargers deal

Tuli Tuipulotu wants to get paid.

Although Chargers coach Jim Harbaugh expected everyone to be full-go for training camp, the fourth-year edge rusher is holding in amid contract negotiations.

Tuipulotu, who was a full participant in minicamp, did individual work off to the side during Wednesday’s practice and was in general workout attire rather than in a helmet, jersey and football pants like his teammates. On Thursday, Tuipulotu suited up normally and participated in drills alongside fellow defensive linemen but didn’t participate in team sessions.

A hold in is one way players can exercise leverage during contract negotiations. Hold-in players fulfill basic requirements outlined in the collective bargaining agreement — such as attending meetings and doing individual work — to avoid mandatory fines from teams for not reporting to training camp.

“We keep it rolling in practice,” Chargers defensive coordinator Chris O’Leary said. “You know, you get into a game, and you spend a little bit more time game planning and figuring out how to fill that void. … So we haven’t felt it as much. Obviously, we miss [Tuipulotu] out there. We miss how vocal he is and plays that he makes. But for us, we’re just keeping it rolling with the guys we got out there.”

The No. 54 overall pick in the 2023 NFL draft, Tuipulotu has steadily climbed into a key role in the Chargers’ defense and is coming off a career year.

He collected 13 sacks in 2025 as a pivotal part of former defensive coordinator Jesse Minter’s system, which helped the Chargers finish the season fifth in yards allowed per game (285.2) and ninth in points per game (20.0).

“I just let my agent — let the guys — handle that,” Tuipulotu said during minicamp in June. “I’m just trying to be here with the team, you know what I’m saying? Be close with the guys.”

Tuipulotu, a Hawthorne native, has earned 26 sacks and 144 tackles over 36 starts with the Chargers. He made 16 starts last season.

“It’s just the process of it, man,” said Chargers safety Derwin James, who has earned a pair of hefty paydays after a training camp hold in of his own four years ago. “We love Tuli. Like, I knew the team loved me too when I had [a] similar situation.

“Sometimes, that stuff takes longer to iron out. But man, everyone knows we love Tuli here. … And he loves the team. So it’ll get worked out. … I can’t wait to have him out there. It’s just part of the business, man.”

James, a five-time Pro Bowl selection set to earn more than $24 million this season, is someone Tuipulotu can lean on during his hold in. Another is fellow edge rusher and future Hall of Famer Khalil Mack, who has mentored Tuipulotu.

The two said they discussed Tuipulotu’s situation privately. Like James, Mack is seasoned in contract negotiations, having famously signed a record six-year, $141-million extension with the Bears in 2018 after a holdout with the Raiders had him shipped to Chicago.

“I would be doing [Tuipulotu] an injustice not to talk to him about business or just life in general, of how to handle your business off the field and on the field,” Mack said, referencing Raiders teammates such as Charles Woodson and Justin Tuck who helped him navigate his early NFL years. “He kind of bounces questions off of me, and I say what I did or what I saw other people do — just give the best example or the best advice I can. But every situation is different.”

“I just hope you know everything works out in his favor,” Mack added. “And whatever works in his favor works in the organization’s favor as well.”

Tuipulotu said he didn’t have a timeline for his contract negotiations, but reiterated he’d show up.

But as a key cog in the Chargers’ defense who loves practice and training camp, the Chargers won’t feel quite complete on the field until Tuipulotu is practicing with his teammates again.

“There’s always something to get better at,” Tuipulotu said. “There’s always something you miss. Man, I love practice, you know what I’m saying? I bring the juice during practice.”



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Yan Diomande: Winger’s rapid rise to record Real Madrid deal

After an eventful couple of months, Yan Diomande, one of football’s top young prospects, is about to get his wish of joining a European powerhouse.

The 19-year-old is signing with Real Madrid in what can only be described as a record-setting transfer.

The Spanish giants will pay more than £100m for Diomande – making him a new record sale for RB Leipzig and he is expected to also become a new record signing for Real Madrid.

Simultaneously, Diomande becomes the most expensive African player in history.

His rise to stardom has also occurred seemingly in record time as less than 18 months ago he was almost completely unknown.

Only scouts and insiders were aware of a skinny winger who had previously played for Florida-based DME Academy, more renowned for its basketball programme.

Diomande had trials with Chelsea, Bournemouth, Crystal Palace, Rangers and Olympiacos but remained unsigned until he was picked up by La Liga side Leganes.

Within only a few months and 10 games in the Spanish top flight he increased his market value considerably, eventually signing with Leipzig for 20m euros.

The Red Bull-funded club believed they had acquired a diamond. And they were right. Almost from the get-go, Diomande looked like one of the most exciting players in the Bundesliga, scoring 13 goals and providing 10 assists across competitions in his first full season in Europe.

Initially, Leipzig intended to keep him for another year, hoping his market value would increase even further, but the demand was simply too high.

Liverpool, Paris St-Germain and finally Real Madrid showed so much interest in the winger, who also played for his home country of Ivory Coast at the World Cup, that the Bundesliga side had to give way and agree to a deal.

A lot can be said about the steadily increasing prices on an overheated transfer market where even prospects can demand fees in the nine digits, but Diomande is special. A hyper athletic and very creative winger, it is not far-fetched to consider him among the best dribblers in Europe already.

Obviously, there is still a degree of rawness to his game, but he made a leap forward in the past 12 months and there’s no reason he couldn’t develop further at the tender age of 19.

His passing skills are also somewhat underrated because he is the embodiment of a dribble-first winger. Diomande connected very well with right-back Ridle Baku at Leipzig and may look even stronger with the support of the likes of Trent Alexander-Arnold and Marc Cucurella.

Diomande is able to play on both wings. A right-footer, he was mostly employed on the left side by Leganes but found a home on the right at Leipzig. At the World Cup, he played in both positions for Ivory Coast.

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Paramount CEO David Ellison says the Warner merger is still on track

Paramount Skydance Chief Executive David Ellison isn’t waving a white flag.

After Paramount agreed Friday to delay its proposed merger with Warner Bros. Discovery to battle a stiffer-than-anticipated antitrust challenge from California Atty. Gen. Rob Bonta and 11 other state attorneys general, Ellison is resetting expectations. In a Monday memo to employees, Ellison wrote that he still believes his mammoth merger will be consummated in the coming months.

Paramount stock has lost about 20% of its value since the beginning of July amid concerns that the company will have to shoulder higher costs to get its $111-billion Warner Bros. acquisition across the finish line. Friday’s agreement with the state attorneys general to delay the merger’s close until after an antitrust trial, which will likely be held in 2027, also was unsettling to shareholders and some employees.

Paramount Skydance shares closed at $8.03, down 2.19% Monday afternoon.

“Let me be clear: we remain highly confident that this transaction does not pose any legal issues, and we will complete it and bring these two companies together,” Ellison wrote in the memo shared with media outlets.

Paramount’s internal teams and Warner Bros. have been diligently working to lay the groundwork for the two rival companies to integrate their operations. The rush had been on because Ellison wanted to close the deal this week — or at least by the end of September — to avoid a higher payout to Warner shareholders.

However, Paramount suspended such ambitions on Friday, agreeing to delay the merger until after a trial to litigate the merits of the antitrust case brought by Bonta and the other Democrats. Oregon, Washington, Colorado, Nevada, New Mexico, New Jersey and New York are among the states joining California in the fight.

The Writers Guild of America separately sued this month, alleging the merger would harm writers. Over the weekend, SAG-AFTRA announced that it supports the state attorneys general as they try to beat back the merger.

“Our members have every right to expect that the government will do thorough regulatory oversight when a deal of this magnitude takes place,” SAG-AFTRA President Sean Astin said in a statement.

“The workers in this industry should not have to rely on promises and aspirational statements,” he added. “This isn’t a conversation about shareholder value, it’s about the survival of the entertainment business in America.”

Teamsters already have spoken out against the deal.

Bonta and fellow attorneys general from Democrat-led states have argued the deal would violate the century-old Clayton Antitrust Act in three markets: wide-release theatrical films, potential blockbuster movies and cable television channel concentration.

U.S. District Judge Araceli Martínez-Olguín, who is overseeing the antitrust suit filed by Bonta two weeks ago, wrote in an order last week that the plaintiff states had presented “compelling evidence” that the proposed merger may violate U.S. antitrust law.

California Atty. Gen. Rob Bonta.

California Atty. Gen. Rob Bonta is leading an effort of 12 state attorneys general attempting to block Paramount Skydance’s $111-billion takeover of Warner Bros. Discovery.

(Genaro Molina / Los Angeles Times)

Paramount disputes that. The firm, controlled by the Larry Ellison family, has pointed to regulatory approvals it has already garnered, including from the U.S. Department of Justice, which found its acquisition of Warner Bros. Discovery would not harm competition.

The deal also won clearances from regulators representing 65 jurisdictions, including Australia, China, the European Commission, Germany, France, Spain and Canada. Paramount has pointed to those approvals as proof that the law is on its side.

In his memo, Ellison said delaying the deal until after a trial before Martínez-Olguín made sense.

“We believe this is the right path because the facts and the law are on our side, and a full hearing will demonstrate why the plaintiffs’ arguments should not prevail,” Ellison wrote.

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Khamenei ties US-Iran peace deal to Israel ending attacks on Lebanon | US-Israel war on Iran News

Iran’s supreme leader calls for ‘absolute, unconditional termination’ of Israel’s attacks on Lebanon amid reports of renewed diplomacy.

Iran’s Supreme Leader Mojtaba Khamenei has said that peace between Tehran and the United States is contingent on Israel stopping its attacks on Lebanon.

Khamenei made the statement in a post on X on Sunday.

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Iran “has designated the preservation of Lebanon’s territorial integrity, and the absolute, unconditional termination of the Zionist regime’s aggression as the primary condition for any agreement to ending the imposed war against the aggressive US,” he wrote.

Khamenei also voiced his support for the Lebanese group Hezbollah, its former leader, Hassan Nasrallah, and the people of southern Lebanon – the focal point of Israel’s attacks – in a series of posts.

“The Islamic Republic of Iran considers the defense of these oppressed yet powerful mujahideen [of Hezbollah] to be its strategic mandate,” Khamenei said.

Khamenei’s intervention comes amid reports of a halt to attacks and renewed diplomacy between Tehran and Washington.

Iran has insisted on an end to Israeli strikes on Lebanon a precondition for ending the war, enshrining that demand in the first clause of the Memorandum of Understanding signed between the two countries in June.

That agreement has since collapsed amid a dispute over the Strait of Hormuz.

Lebanon was drawn into the conflict in March after Hezbollah launched strikes on northern Israel, citing both the killing of then-Supreme Leader Ali Khamenei on the war’s first day, February 28, and Israel’s near-daily bombardment of Lebanese territory – attacks it says violated a ceasefire that had ended an earlier round of hostilities in 2024.

On June 26, following the signing of the US-Iran MoU, Lebanon and Israel signed a US-mediated framework agreement stipulating a phased Israeli withdrawal from occupied Lebanese territory, but without a timetable for the withdrawal.

Instead, it said Israel will withdraw from occupied territories once Hezbollah is disarmed.

Iran and Hezbollah, which was not a party to the talks, have rejected the deal.

While the first phase is Israel’s withdrawal from three “pilot zones”, the Lebanese army said on Sunday that Israeli forces are obstructing the process, including by refusing to withdraw from designated territories.

As of Sunday, Israel was still bulldozing, shelling and conducting combing operations with machineguns across large areas of southern Lebanese territory it is occupying.

At least 4,329 people have been killed, while 37 Israeli soldiers and four Israeli civilians have died in the latest round of violence in Lebanon.

Israel violated a previous ceasefire between Hezbollah and Israel more than 10,000 times, according to UN peacekeepers.

Mojtaba Khamenei is the son of the former Iranian Supreme Leader Ali Khamenei. He was selected as supreme leader after the US and Israel’s assassination of his father.

Khamenei’s statement on Lebanon comes as war spreads into Yemen, with reports of an exchange of attacks between the Houthis and Saudi Arabia.

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