Briefs Bye-Bye Blackouts

Bloomberg Businessweek (Asia) - - COMPANIES / INDUSTRIES -

● ● Ma­jor League Base­ball, Com­cast, and DirecTV agreed to set­tle an an­titrust law­suit brought by fans over how games are tele­vised. The class ac­tion, filed in 2012, chal­lenged base­ball’s sys­tem of grant­ing ex­clu­sive rights to re­gional ca­ble net­works in their home ter­ri­to­ries. The agree­ment would let fans watch their fa­vorite teams, with­out re­gional blackouts, if they sub­scribe to pay-TV and buy a sep­a­rate stream­ing ser­vice from MLB. The league will of­fer a pack­age al­low­ing fans to buy streamed games for a sin­gle team for $84.99 next sea­son. ●● Green­light Cap­i­tal, the hedge fund run by David Ein­horn, made an in­vest­ment in Macy’s in the fourth quar­ter of last year, a let­ter sent to in­vestors in Jan­uary re­veals. In the let­ter, Green­light ar­gues that the strug­gling re­tailer could be a takeover tar­get be­cause of its valu­able real es­tate hold­ings. Adidas an­nounced that Kasper Rorsted, head of Dial soap maker Henkel, will suc­ceed Her­bert Hainer as chief ex­ec­u­tive of­fi­cer in Oc­to­ber. Adidas shares soared af­ter the an­nounce­ment. ●" ● Wal­mart plans to close 269 stores as it aban­dons its smaller Ex­press out­lets and stream­line op­er­a­tions. As many as 16,000 jobs glob­ally will be elim­i­nated. Sales at the re­tailer haven’t been grow­ing fast enough to off­set bil­lions of dol­lars in spend­ing on higher wages and web­site changes.

● Audi will start build­ing its first purely elec­tric SUV in 2018 as part of par­ent Volk­swa­gen’s ef­forts to move away from its diesel-emis­sions scan­dal. The bat­tery-pow­ered ve­hi­cle will chal­lenge Tesla’s Model X, which went on sale in the U.S. last year.

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and to cover sour­ing en­ergy loans as the price of oil falls below $30 a bar­rel. the largest U.S. Span­ish­language broad­caster, bought a mi­nor­ity stake in the satir­i­cal web­site the Onion to reach younger au­di­ences. “Man­ag­ing and mov­ing money should be a right for all cit­i­zens and not just a priv­i­lege for the af­flu­ent.”

CEO Wis­dom

——Dan Schul­man, CEO of PayPal, speak­ing at the World Eco­nomic Fo­rum in Davos, Switzer­land

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