Tag: Parent

WWE to Merge with UFC Parent Company Endeavor Group to Leverage ‘Heavily in Demand’ Combat Entertainment

A new deal sees the WWE and UFC merge under the same umbrella for all-round combat sports offerings subject to regulatory approval. The World Wrestling Entertainment (WWE) has agreed to merge with the Ultimate Fighting Championship (UFC) to form a publicly-traded combat sports company. According to reports, the new company will be run by a talent and media holding company and UFC parent Endeavor Group Holdings. The WWE deal comes months after news first emerged that the popular wrestling promotion sought a buyer. The Vince McMahon-controlled company has a current market…

SVB’s parent firm files for chapter 11 protection

A few days after its former business Silicon Valley Bank was taken over by U.S. authorities, SVB Financial Group said on March 17 that it had filed for a court-supervised restructuring under chapter 11 bankruptcy protection to seek purchasers for its assets. The decision to initiate bankruptcy procedures was made because emergency steps taken to restore trust have, as of yet, been unable to ease concerns over the spread of financial contagion. SVB Financial Group’s troubles The firm said earlier this week that it intended to seek strategic options for…

Alchemy Pay Partners With ZD Group, Parent Company of Mouette Securities, Shares Four Hong Kong Licenses and Receives Its Investment – Sponsored Bitcoin News

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sponsored The leading fiat-crypto payment gateway, Alchemy Pay, has revealed that it has joined forces with ZD Group, the parent company of Mouette Securities, a reputable global investment fund. Within the frame of this strategic collaboration, ZD Group provides investment and shares its four financial licenses authorized by Securities and Futures Commission (SFC) and Insurance Authority (IA) of Hong Kong with Alchemy Pay, while Alchemy Pay commits to provide crypto payment solutions to all businesses in ZD Group. This collaboration aims to promote resource sharing and foster stronger business ties…

Bank of England Shuts Down Silicon Valley Bank’s UK Branch After US Regulators Close Parent Company – Bitcoin News

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After U.S. regulators shut down Silicon Valley Bank (SVB) on Friday, the Bank of England has closed the company’s U.K.-based arm. The central bank explained that it intends to place the subsidiary into bank insolvency procedures. Fallout From SVB Failure Prompts BOE to Close U.K. Branch The ripple effect of the 16th largest bank in the United States failing has started to unwind after Silicon Valley Bank (SVB) was shut down by the U.S. Federal Deposit Insurance Corporation (FDIC) and the California Department of Financial Protection and Innovation (DFPI). California’s…

Bankrupt Lender Genesis and Parent DCG Reach Initial Agreement With Main Creditors: Source

The term sheet also involves refinancing the outstanding loans where DCG borrowed $500 million in cash and about $100 million worth of bitcoin (BTC) from Genesis, the person said. Included is “an equitization of the infamous 10-year promissory note that DCG gave Genesis in return for failed hedge fund 3AC claims,” the person said, without providing details of the process. 3AC refers to Three Arrows Capital, a crypto hedge fund that collapsed last year. Source

Facebook Parent Meta’s Metaverse Division Lost $13.7B in 2022

For the company as a whole, Meta reported adjusted quarterly earnings per share for the fourth quarter of $1.76, missing the analyst consensus estimate of $2.26, according to FactSet, while Meta’s overall revenue of $32.2 billion beat estimates of $31.6 billion. It guided for Q1 revenue between $26 billion to $28.5 billion, which at its midpoint of $27.25 billion was slightly ahead of the consensus estimate of $27.2 billion. Facebook’s daily active users also hit 2 billion for the first time in the quarter. Source