"There is absolutely no truth" to the idea we're actively pursuing a bid for CNN. This is the unequivocal response from Jeff Zucker, former President of CNN Worldwide and now CEO of RedBird IMI when asked about speculation he was looking to purchase the business. Speaking with Yahoo Finance's Seana Smith he made the simple point: "it's not for sale". Zucker did however acknowledge that CNN is a "great asset" that they would consider if it officially went on the market in the future. Zucker also discussed CNN's transition into streaming with the new CNN Max service. He noted that balancing streaming versus cable will be difficult, saying "you have to meet the consumer where they are." While CNN currently relies heavily on cable revenue, he pointed out that prioritizing streaming over cable may hurt profitability in the short-term, but is a necessary sacrifice media companies have to make to adapt to changing viewing habits among consumers. Click here to watch more from Yahoo Finance Invest.
"There is absolutely no truth" to the idea we're actively pursuing a bid for CNN. This is the unequivocal response from Jeff Zucker, former President of CNN Worldwide and now CEO of RedBird IMI when asked about speculation he was looking to purchase the business.
Speaking with Yahoo Finance's Seana Smith he made the simple point: "it's not for sale". Zucker did however acknowledge that CNN is a "great asset" that they would consider if it officially went on the market in the future.
Zucker also discussed CNN's transition into streaming with the new CNN Max service. He noted that balancing streaming versus cable will be difficult, saying "you have to meet the consumer where they are." While CNN currently relies heavily on cable revenue, he pointed out that prioritizing streaming over cable may hurt profitability in the short-term, but is a necessary sacrifice media companies have to make to adapt to changing viewing habits among consumers.
Click here to watch more from Yahoo Finance Invest.
As part of CoinDesk's Trading Week 2023, presented by CME Group, ProShares Global Investment Strategist Simeon Hyman weighs in on bitcoin's recent rally despite the "challenging news flow" and headwinds in the industry. "The rally that we've seen in cryptocurrency...is certainly a vote towards resilience," Hyman said.
When looking for the best stocks to buy and watch, focus on those with rising relative price strength. One stock that fits that bill is F5 stock, which had its Relative Strength (RS) Rating upgraded from 79 to 82 Tuesday. When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
Former President Donald Trump testified Monday in his civil fraud trial, in which prosecutors allege he inflated his worth by billions of dollars to secure unfair financial advantages. “I think it went very well,” Trump said. Photo: Curtis Means/Bloomberg
Stocks were building on earlier gains, with tech leading the way in Tuesday afternoon trading. The Nasdaq Composite was up 1.1% shortly before 2 p.m. ET. “The NASDAQ is on an 8-day rally as tech continues to lead the market, with consumer discretionary showing signs of strength, helping the outlook for holiday spending,” writes Navellier & Associates founder Louis Navellier.
The political and economic ramifications from the Israel-Hamas war may provide an impetus to plans for a pipeline conveying offshore natural gas to Cyprus for processing and shipping to foreign markets, the east Mediterranean island nation's energy minister said Tuesday. The fighting in the Gaza Strip and Israel's desire to boost its energy security also lend weight to a proposed 2,000-megawatt undersea electricity cable that would connect the power grids of Israel and Cyprus to the European mainland via Greece, Cypriot Energy Minister George Papanastasiou said. Papanastasiou said Israel's contacts with Turkey for possible energy cooperation - part and parcel of the Israeli government's desire to keeping all available options open - may have fallen by the wayside given Turkey's increasingly harsh criticism of Israeli actions in Gaza.
Bill Ackman, the founder and CEO of Pershing Square Capital Management, is a renowned billionaire institutional investor and hedge fund manager with a net worth of over $3.5 billion. The Harvard University-educated finance executive is known for his leveraged contrarian bets on the stock and bond market. In 2020, just days before the U.S. announced a total lockdown, Ackman hedged his investments, predicting a complete shutdown of the economy through credit default swaps, netting a profit of over
