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SuanNutra expands natural ingredients portfolio with IFF business acquisition
The nutraceutical ingredients supplier is set to acquire a portfolio of speciality natural ingredients businesses from IFF, creating a global ingredients group spanning branded actives, botanical extracts, fermented nutrients and clean-label food solutions
Champions Of Potomac River Mussels Summon A ‘Science Barge’
The Potomac Riverkeeper Network has expanded its mussel-growing operation on the Potomac River with what the group is calling a “science barge.” The 80-foot-by-30-foot vessel serves as a floating platform for specially designed cages used to raise mussels. A pair of “floating upwellers” holds up to 4,000 mussels at any one time in the river […]
Her Mom Needed A Male Co-Signer. She Built The Franchise To $22 Million
She bribed her husband with a Corvette to get him to co-sign a loan. Her daughter scaled the Culligan KC to $22M. How three decisions made the difference.
Want To Live Longer? Here Are 10 Ways To Manage Your Health And Track Aging
A physician breaks down 10 ways to track your health and biological age, from blood panels to wearables, and what the evidence actually shows.
This $46 Million Toilet Startup Is Betting Smart Seats Can Be A Billion-Dollar Business
Medical tech company Casana raised $46 million to launch a toilet seat that monitors your health. Their goal? Make sittables the next wearables.
Why More Millennials Are Buying Businesses Instead Of Starting Them
Why more millennials are buying businesses instead of starting them and how acquisition entrepreneurship is creating a faster path to ownership and wealth.
Kaneka pitches “mitoceuticals” as mechanism-led mitochondrial health supplements
Cellular health is becoming increasingly important as industry and science reveal that health systems are interconnected. The mitochondria are especially central in this understanding, as it addresses healthy aging, healthspan, and lifestage demands. Nutrition Insight speaks with Kaneka Corporation and Kaneka Ubiquinol’s consultant to learn about how nutrition is evolving on an industry and consumer level. “Over the past decade, we’ve seen nutrition evolve from addressing nutrient deficiencies to supporting specific conditions and now toward supporting healthspan — the health and well-being across life stages,” says Tsuyoshi Takakuwa, head of Marketing and Sales Team (APAC), Supplemental Nutrition Business Division at Kaneka Corporation.
Butterfli Fills Transportation Needs
Delilah Lanoix fell into the business of helping people get from point A to point B by chance. At the turn of the millennium, Lanoix and her husband, John
Sweetening the Deal
At 22, Loren Castle found herself at a crossroads in life. She was a fresh communication graduate from the University of Southern California, a certified
Exclusive | Buyout Firm Truelink Nears $1 Billion Deal for Coffee Syrup Maker
Lyons Magnus specializes in fruit-based ingredients and beverages, from flavored syrups for coffee drinks to fruit purees for smoothies.
iPhone 18 Pro Release Date: Apple’s 15-Year Event Timeline Signals Exact Date
As rumors build, analysis of every fall iPhone release indicates one date above other possibilities.
When Friends Complained About The High Cost Of Wedding Videos, This Entrepreneur Saw Opportunity. She Created A Business That’s On Track For $3.8 Million In Revenue This Year.
Anne Marie Carroll, founder of Wedding Weekender, turned a layoff into a chance to start a business that turns wedding guests into photographers—and creates candid videos to capture the events.
Xbox Champions Exclusives As It Explains Confusing Reversal
Why is Halo coming to PS5 but Gears of War: E-Day isn't?
iPhone 18 Pro Pricing Can Dominate Market And Start A New Super Cycle
The launch of the iPhone 18 Pro will also see Apple introduce new Apple Intelligence and Siri AI features, igniting a super cycle of sales.
Small Businesses Adopted AI Faster Than They Wrote Rules For It
Most small businesses run on AI with no written policy. EU disclosure rules and state laws are coming. The one-page AI policy that answers regulators and clients.
8 Simple Exercises That Can Help Lower Blood Pressure Naturally
Exercise is one of the most effective ways to reduce your blood pressure naturally, especially if you are consistent and consider your personal limitations.
World Cup, the highest-scoring finals ⚽️
World Cup finals are often tight, cagey matches, where every mistake can prove very costly. Yet several of them have produced especially spectacular, high-scoring encounters.Just hours before the bloc...
Science & Medicine: Small daily choices can have a big impact on your dementia risk
A UT San Antonio researcher warns that dementia cases could triple by 2050 and that no health system on earth is ready for it. But Dr. Claudia Suemoto says the outlook isn't hopeless: everyday choices around exercise, diet, and community can meaningfully lower your risk, especially if you start by around age 35.
Small Business Technology News Roundup: IBM Shares Crash, ChatGPT To Replace Wall Street Analysts
IBM shares collapse, OpenAI says AI will replace workers, Upwork says AI is reshaping freelancing, Microsoft will let you pause Windows 11 updates, Expensify consolidates travel billing
Mavs Block Knicks, Match Offer To Keep Promising Young Center
Dallas secured frontcourt depth by matching a $4.7 million offer sheet for Moussa Cissé, preventing the New York Knicks from poaching the defensive specialist after his standout rookie season.
Business People
AM Group, a female-owned Fayetteville-based communications agency specializing in public relations, strategic communications and brand strategy, has named Aaron Hopwood as its first director of creative and content.
Business People
AM Group, a female-owned Fayetteville-based communications agency specializing in public relations, strategic communications and brand strategy, has named Aaron Hopwood as its first director of creative and content.
Opinion | Double standard over GLP-1 drugs hits women especially hard
Women experience the effects of obesity in many ways, including heart disease, certain cancers, fertility challenges, maternal health complications, and more severe menopause symptoms.
Regional One Health hosts Back-to-School community fair
Regional One Health hosted its Back-to-School Community Fair this afternoon at Primary Care Specialists on Walnut Grove.
Android lockscreen bypass allows Gemini to send SMS without verification
It is apparently a known issue, and a fix is incoming. These things happen from time to time, especially when dealing with such complex software with so...
Psychiatrists, psychologists spending more than other healthcare providers to lobby policymakers
Payments to lobbyists from healthcare providers fell 13% over a 10-year period ending in 2024. Yet lobbyist spending by one specialty—mental healthcare—rose by nearly 30%. What explains the against-the-current cash flow?
iPhone 18 Pro Release Date: Apple’s 15-Year Event Timeline Signals Exact Date
As rumors build, analysis of every fall iPhone release indicates one date above other possibilities.
Rep. Ralph Norman launches campaign to replace Lindsey Graham in Senate race
President Donald Trump endorsed the late Sen. Lindsey Graham’s sister, Sen. Darline Graham, to run for the Republican nomination in the special primary election.
Low-cal sweeteners can change gut bacteria — especially if you're on a popular antidepressant
That guilt-free treat may not be as innocent as it seems.
Multiple Hyde Park, Mount Lookout businesses closed amid flooding cleanup from heavy rain
Multiple businesses, especially in Hyde Park and Mount Lookout, are closed after massive flooding from heavy downpours Friday.
Tickets For World Cup Final—The Most Expensive U.S. Sporting Event Ever—Rise 46%
The cheapest tickets for the final on the secondary market were just shy of $7,000 on Wednesday, with an average ticket price of $11,327, which marked the most expensive sporting event in U.S. history.
Tom Cruise treats AMC workers to ‘Odyssey’ screening — and joins them to watch
Tom Cruise treated workers at a Manhattan AMC to a special IMAX screening of ‘The Odyssey’: ‘An amazing night in a movie theater.’
The Influencer Whose Friendship With Trump Made Her a Sports Star
Emily Austin has leveraged her political connections for special access to cover World Cup games and UFC fights.
These Broncos Face Big Pressure As Season Approaches
The Denver Broncos are facing a lot of pressure as training camp opens, and that especially applies to their coach.
Pixel 11 Release Date: Price Reveal Hands Advantage To iPhone 17
A new Pixel 11 price leak flips Google's usual advantage over Apple. Here's what Google is betting on to convince you anyway.
Everyone’s Watching Women’s Sports – The ESPYs Breakthrough Award Proved It
Olympic Champion Alysa Liu won the 2026 ESPY Best Breakthrough Athlete award, marking a historic five-year win streak for female athletes in an evolving sports industry.
Regional One Health hosting back-to-school community fair
MEMPHIS, Tenn. — Regional One Health is hosting a free Back-to-School Community Fair Saturday, July 18, from 10 a.m. to 1 p.m. at Primary Care Specialists, located at 3109 Walnut Grove Road. The ev…
Weight-loss drugs may improve job prospects and dating odds for one group
A weight-loss specialist says GLP-1 results boost confidence in job interviews and dating, but the study found no clear improvement in well-being.
I Wrote That Healthcare's Problem Is Us. The Objections Proved My Point.
Do we have a leadership crisis in US? Or a crisis of incentives. No one seems to agree.
Apple Loop: iPhone 18 Pro Release Date, Lego iMac G3, New EU AirPods Rule
This week’s Apple headlines: iPhone 18 Pro Max specs, iPhone 18 Pro release date, iPad Mini updates, new EU regulations for AirPods and Apple Watch, a Lego iMac G3, and more...
MAGA's meddling in European politics
While past US governments framed their involvement in Europe as support for democracy, that mission now appears less clear, especially since Donald Trump returned to office in January last year.
2026 FSU Position Previews: Special teams
Look for FSU’s special teams to bounce back after a disappointing 2025 season
Only Cooper Cousins Until Penn State Football
We’re exactly 50 days away from Penn State kicking off its 2026 football season against Marshall, and today we’re honoring a person who is widely expected to help anchor the offensive line. After seeing playing time mainly on special teams as a freshman, Cooper Cousins saw action on the O-line as a sophomore last season, […]
How Entrepreneurs Can Turn A $20,000 Investment Into A Growing Business
Wondering how to turn $20K into a thriving business? Compare startup ideas, costs and strategies for sustainable growth.
Americana Partners expands into sports and entertainment wealth management
The $11.5 billion Houston-based RIA has tapped a JPMorgan alum and former Division I soccer player to lead the buildout of its specialized services.
Burnham to say his government will be ‘unashamedly Labour’ in first speech as party leader
‘Special conference’ to take place at noon where Burnham will be formally announced as Labour leader
Andy Burnham to become Labour leader and will promise to 'fix things politics has neglected'
The Makerfield MP is due to speak later when he is appointed at a special party conference in central London. He will then become prime minister on Monday.
Sports without politics is a fantasy and the World Cup proves it
From ancient Greece to Nazi Germany, sport and politics have long been intertwined. Nevertheless, we still imagine that international sport can be kept above the fray and serve as a neutral arena where nations compete on merit alone. In this article, diplomacy scholar Geoffrey Allen Pigman argues the 2026 FIFA World Cup shows this is a dangerous illusion. When international sport is left entirely to revenue-maximizing private bodies like FIFA, it doesn't escape politics, but rather surrenders to its worst expressions. With the 2028 Los Angeles Olympics fast approaching, the IOC must decide whether to learn that lesson or repeat the same mistakes. The largest and most lucrative FIFA World Cup ever draws toward its climactic conclusion amidst a swirl of controversy. Team members, staff, fans, and spectators have been denied their right to enter the United States to participate, and US President Donald Trump intervened with FIFA boss Gianni Infantino to overturn a referee’s call that Trump believed disadvantaged the US national team. It is a moment to step back and reflect on what the purposes of international sport mega-events like the World Cup, and international sport more broadly, are, and what they should be. Does international sport serve public purposes? Is there a public interest? Or is it primarily a private endeavor organized by commercial enterprises to entertain the global public (and generate profit in the process), which is occasionally used by governments and leaders for raisons d’etat? Central to the idea of sport is the principle of fair play, which in the international context demands that games be free from political interference. However, it is impossible to separate sport from politics, all claims to the contrary notwithstanding. The most positive political use of international sport through the millennia has been to facilitate diplomacy. The use of international sport for diplomatic objectives has existed since at least the time of the ancient Olympic Games, around which was instituted the custom of the Ekecheiria, or Olympic Truce, between participating states to facilitate fair competition and diplomatic achievements by ensuring that participants could travel safely to the Olympiad. In his seminal work On Diplomacy (1987), diplomacy scholar James Der Derian characterized the objectives of diplomacy as overcoming alienation and mediating estrangement between governments and between peoples. One increasingly important diplomatic tool in the technology-infused media environment over the past century has been public diplomacy, under which governments and non-state diplomatic actors (e.g. transnational corporations) communicate to global publics about their international policy objectives and to shape their global brand image. Political scientist Michał Kobierecki, in his important book Sports Diplomacy (2020), views sports diplomacy as falling broadly within the ambit of public diplomacy, as international sport intimately involves the participation of global publics as spectators and consumers of global media. Diplomacy scholar Stuart Murray and this author, in a 2013 article, distinguish between international sport used for diplomatic purposes and international sport-as-diplomacy, which encompasses the range of diplomacy that occurs as teams and competitors, spectators and fans, and government officials all converge for international sporting events like the Olympic Games and FIFA World Cup. Diplomacy scholar H.E. Chehabi, in a 2001 article on US-Iran sports diplomacy, describes the interaction between spectators and fans at international sporting events as “people-to-people diplomacy,” in which relationships develop independently of governments and their objectives. Diplomacy by the aforementioned definitions is often unsuccessful. Moreover, all too often the tools of diplomacy may be employed by governments and other actors to thwart or oppose the objectives of diplomacy as characterized by Der Derian. Governments routinely use the tools of public diplomacy to disseminate propaganda, spreading misinformation in the attempt to deceive global publics about their objectives and to create misleading impressions about their brand identity. Within sports diplomacy, the term “sportswashing” has been coined recently to describe how governments invest in and promote international sport to create positive global public impressions of their nations and, in doing so, to distract the global public from their deficient records in areas such as human rights and democratic governance. Murray, in his 2018 book Sports Diplomacy: Origins, Theory and Practice, introduces the concept of sports anti-diplomacy, wherein governments intentionally use international sport to advance aggressive and nationalistic objectives. Obvious historical examples include Hitler’s use of the 1936 Berlin Olympics to glorify his Third Reich and the 1969 El Salvador-Honduras football “war.” SUGGESTED READING The beautiful game made ugly By Emily Ryall FIFA argues that it is and seeks to be apolitical in its stewardship of international Association Football (soccer). FIFA policies governing bids to host the World Cup require uninhibited and non-discriminatory access for players, team staff, and spectators of all participating countries to host nations and venues. It became clear soon after Trump returned to power in the United States in January 2025 that Trump’s political intentions and objectives to limit non-US citizens from living and working in the United States and, in numerous cases, even visiting the country, would collide with FIFA’s host nation policies. Beginning soon after the start of the second Trump administration, US federal authorities imposed restrictions on entry to the United States of citizens of between 20 and 40 countries for any purpose, with only limited exceptions. Federal Immigration and Customs Enforcement (ICE) began arresting non-US citizens in the United States, including persons with and without legal status, holding them in jails, concentration camps, and other detention facilities until they were deported to their home or third countries, where they faced substantive risks to their personal safety. FIFA boss Gianni Infantino, in an effort to ensure the most successful and lucrative World Cup in history, engaged diplomatically with President Trump in an attempt to facilitate entry to the US for World Cup participants. Infantino did all in his power to ingratiate himself with Trump, to the extent of creating a FIFA “Peace Prize,” which he awarded to Trump in December 2025 at a ceremony in the then Trump-controlled John F. Kennedy Center for the Performing Arts in Washington, DC, on the occasion of the World Cup draw. The prize was an ersatz consolation for someone who aspired in vain to win the rather more prestigious and well-known Nobel Peace Prize. And in the run-up to the World Cup, conditions became worse. In February 2026, Trump and Israeli Prime Minister Benjamin Netanyahu launched a war of aggression against Iran, illegal under international law, under the false pretence that Iran’s government was preparing to attack the United States and Israel. During the US aerial bombardment of Iran, US planes bombed Azadi Stadium, the facility where Iran’s national football team trained. As the 2026 FIFA World Cup began, it was clear that Infantino’s efforts had been for naught: the Trump administration would not adhere to FIFA policies governing access to World Cup host nations. World Cup referee Omar Artan, a citizen of Somalia, was denied a US visa to enter the United States to participate in the World Cup. Trump’s government only granted US visas to Iran’s football team ten days before they were scheduled to arrive for the tournament. Numerous members of the support staff for Iran’s team were denied US visas. Iran’s team, which had been scheduled to train in Arizona, was directed to shift its training site to Tijuana, Mexico, notwithstanding that all three of their group stage matches took place at US venues. The US Department of Homeland Security only permitted the Iranian team to enter the US on the day before each scheduled match and then to return to Mexico immediately after playing. Members of Iraq’s and Switzerland’s football teams were delayed for hours by US officials at the US border, and an Iraqi team photographer was refused entry. Spectators and fans from Haïti and Iran were denied entry to the United States altogether. A large number of fans from a range of countries had their applications for US visas rejected. There were multiple off-ramps through which participants could have avoided the negative consequences of Trump’s decisions for the 2026 World Cup. Once it was clear that the Trump government intended to violate the established expectations for World Cup hosts, FIFA could have shifted the matches scheduled to take place in the United States to Mexico and Canada. The three nations were already designated as co-hosts, and host cities and venues had been selected. Once it was clear that FIFA, governed by FIFA boss Gianni Infantino’s dependent and dysfunctional relationship with Trump, would never consider this option on its own, it fell to the national football federations to act. The national federations, particularly some combination of federations of the leading contenders (France, Spain, Brazil, Argentina, Morocco, England, Germany, etc.), could have refused to participate under the US-imposed conditions or, at the least, demanded an ironclad agreement with the Trump government that FIFA policies on access would be respected. ___ International sport is inextricably entangled with diplomacy of different sorts, for good or ill, it cannot be considered to be in the purely private realm and left to revenue-maximizing private actors. ___ Why did neither FIFA nor the national football federations act to protect the interests of players, team staff, referees, fans, and spectators? In essence, the relentless engines of capitalism prevailed over norm observance, ethics, and fair play. The revenue interests of FIFA, sponsors, global media, and host cities won out. FIFA’s managers viewed hosting another World Cup principally in the United States as a veritable pot of gold for FIFA and its collaborators. FIFA has estimated its own revenue over the 2023-26 budget cycle, which includes the 2026 World Cup, at $13 billion, revised up from an initial projection of $11 billion, and 72% higher than the previous revenue cycle. Of that total, FIFA is estimated to have generated $8.9 billion from the Cup itself in revenue from TV rights ($3.92 billion), sponsorships ($2.69 billion), ticket sales ($3.1 billion), licensing rights, and other sources. A joint study by FIFA and the World Trade Organization estimates that the World Cup will contribute over $40 billion to global GDP, including nearly $14 billion in direct visitor spending in the three host countries (but principally in the United States, which hosted the lion’s share of the matches). The FIFA World Cup is now reportedly “the single most lucrative recurring commercial property in global sport.” And yet, notwithstanding the Trump government’s uses of the World Cup for sports anti-diplomacy, and the climate of anxiety that this created for participants and spectators, diplomacy that did not depend upon governments was able to thrive at the World Cup. Examples of successful people-to-people diplomacy were legion, as citizens of towns and cities across the States, as well as in Mexico and Canada, welcomed team members, their families and supporters, to training sites across North America. Fans of different teams joined together in person in stadiums for matches, at watch parties and bars, and at welcome events sponsored by host cities. The joy and camaraderie shared between the citizenry of Boston and Scotland’s “Tartan Army” of fans is but one example of how the “Beautiful Game” brings people together. Friendships forged across continents are likely to endure well beyond the Cup final. Even those achievements cannot be seen as unalloyed, however. As South African football fan Byron Pillay commented to Al Jazeera, “Football is called the Beautiful Game for a reason, for its ability to unite people. But it’s hard to believe in that magic with the politics and war rhetoric off the field of play, especially when one of the tournament hosts is central to that.” Ultimately, the experience of the 2026 FIFA World Cup illustrates that, as international sport is inextricably entangled with diplomacy of different sorts, for good or ill, it cannot be considered to be in the purely private realm and left to revenue-maximizing private actors. As long as there is the possibility of diplomatic progress in mediating estrangement between governments or between peoples, there is a broad and overarching public interest in international sport. Likewise, as it would be difficult to put on an international sport mega-event without international sporting organizations like FIFA and the International Olympic Committee (IOC), global media firms, and companies purchasing sponsorships, public and private interests in international sport must coexist, most likely somewhere on a shifting spectrum between partnership and rivalry or cross purposes. As the World Cup wraps up, the IOC needs to consider its lessons before the scheduled 2028 Los Angeles Olympics if they want to avoid a media-hyped Trump version of the 1936 Berlin Olympiad. The IOC and the National Olympic Committees need to set conditions on and make demands of Trump’s government with clearly articulated consequences for non-compliance, up to and including cancellation of the Games. Time is running out for the IOC, as unlike with the FIFA World Cup, there is no at-the-ready alternate venue for Los Angeles.
Scientists tested 39 sweeteners and found unexpected gut effects
A large laboratory study found that many commonly used sweeteners can directly change the growth of gut bacteria. Researchers identified more than 100 cases in which sweeteners behaved differently when combined with medications, caffeine, or flavorings. The combination of isosteviol and the antidepressant duloxetine was especially disruptive, reducing beneficial bacteria and overall microbial diversity.
Billy V Live: An update on the latest in Hawaii entertainment and beyond
Billy V goes live to share the latest in Hawaii entertainment. Stay tuned for his weekly entertainment report and a live interview with a special guest!
Daylight Saving Time Debate Reveals Science Literacy Hole
While people debate "pros" and "cons" of permanent daylight saving time, one expert is more concerned about science literacy gaps emerging in the discussion.
Why we're building a Health Editor Help Desk
As health journalism grows more complex and newsroom resources continue to shrink, AHCJ is piloting a new model for providing the specialized editorial expertise reporters told us they need.
Best of Santa Cruz County entertainment, arts & food events this weekend, July 16-19
With the weekend nearly here, check out things to do around Santa Cruz County with a recommendation from Lily Belli and a specially curated list from Lookout's BOLO events calendar.
George Santos responds to body-shamers after ‘Special Forces’ cast photo drops: ‘Omg internet yes I’m fat’
George Santos called out body-shamers who ripped apart his and other ‘Special Forces’ contestants’ cast photos.
SGMC Health Launches Hypertension Clinic to Treat Resistant High Blood Pressure
SGMC Health is expanding its heart care services with the launch of a dedicated Hypertension Clinic, a specialized program within SGMC Cardiology designed to support patients with difficult-to-control high blood pressure.
Tim Scott says he'd 'love to see' Fox News host replace Lindsey Graham
Tim Scott says he's been calling Trey Gowdy to gauge interest in the South Carolina Senate special election, citing his prosecutor background.
Keir Starmer Calls For FIFA To Investigate Argentina Over Controversial Falklands Banner
After beating England, the Argentinian team unfurled a banner that read “Malvinas are Argentinian,” a reference to the British-administered Falkland Islands.
Union City High School offers all-sports pass for 2026-2027 school year
The Union City High School Principal and Athletic Director, Jacob Cross, is offering a special deal for Golden Tornado fans this year.
The $20 Billion Question: What Counts As Women's Health?
Just 8.8% of NIH research money goes to women's health. A new $20 billion strategy argues that the women's health gap is a classification problem.
Michigan health expert talks impact of Canadian wildfire smoke: There's really a long list of who is at risk"
The current air quality in Michigan has doctors, especially cardiologists, concerned for their patients.
NewsNight panel reacts to viewer comment about Trump’s ICE operations
NewsNight viewers are welcomed to join the debate via CNN.com. One viewer says: “people elected trump for more deportations but not by any means… Especially violent means.” The NewsNight panel responds.
Messi hails 'special' World Cup win over England
Lionel Messi hailed a "special" win after Argentina beat England to reach the World Cup final, with the veteran at the heart of a come-from-behind 2-1 win.He said Spain, who beat France 2-0 to reach the final, were "a fantastic side, wonderful players".
The States Try to Topple WarnerMount…Thus Begins the Local Antitrust Era
(Welcome to the “Most Important Story of the Week”, my bi-weekly strategy column analyzing the most important (but often not buzziest) news story of the last two weeks. I’m the Entertainment Strategy Guy, a former streaming executive who now analyzes business strategy in the entertainment industry. Please subscribe.) Well, it looks like it’s time for another strategy column. Can I finally avoid writing about M&A? No, it seems I cannot. Admittedly, I’m a week early with this column, since I usually put it out every other week. But this news couldn’t wait. This will make three “Most Important Stories” in a row with a merger or acquisition as its centerpiece. First, Roku-Fox (an acquisition), then Comcast-NBCUniversal (a divestment!), and now the State AGs and the WGA’s lawsuits against Paramount’s pursuit of Warner Bros. Discovery (antitrust). M&A is usually the “most important” topic any given week, simply because a giant company merging or breaking up (or preventing those outcomes) can have the biggest impact on the streaming board. If you think about these companies as players in a game, changing the number of players is one of the biggest changes you can make. I shouldn’t really complain, either, since this lawsuit is very good news for customers and suppliers (econ speak for talent, workers and indie studios in Hollywood). So let me answer some questions about this potential trial, along with (shudder) making some heavily caveated predictions. I’ll also look at whether Hollywood must consolidate, whether or not the states can win, trouble at X-Box, Netflix’s YouTube binge, and more. Plus, I have five images that visualize this merger and the harm, including three brand new data looks you’ve never seen before. Subscribe Most Important Story of the Week - Can The States and the WGA Stop Hollywood’s Consolidation (Crisis)? If every other newsletter and news outlet is writing about the same story, I try to avoid writing about it as well, but I can’t ignore a story this consequential. The story of the last year was the fate of Warner Bros. Discovery, and this development potentially extends that saga into 2027. As I tried to figure out my angle, I realized, like my last column, I’m again faced with a series of questions. These questions, though, are much more forward-looking. Will the states win? Will the WGA win? If so, what happens to Warner Bros. Discovery? Either way, will this chill the market for future mergers? So you know what that means: predictions. About the future, no less, the hardest thing to predict.1 Just remember: nothing here comes with a guarantee. And the more confident someone is in their predictions, the less you should trust them. This situation is incredibly fluid, nuanced, uncertain and tenuous. So let’s try to explain what may happen. Question: Why File this Lawsuit? I’ll admit, a few months back, I was fairly pessimistic about the fate of this lawsuit. Rumors had started bubbling up that the state Attorneys General (in particular California) wanted to settle with either some minor divestments (usually CNN) or behavioral remedies. And that tracked for me: the states usually settle lawsuits, like the recent John Deere right-to-repair suit. Yet, they plan to fight this. (As they did the LiveNation-Ticketmaster monopolization trial and the Nexstar-Tegna merger.) Honestly, that also makes a ton of sense. Frankly, this move is just good politics for these State AGs. Most are still running for higher and higher office in blue states—some folks have emphasized that only Democratic AGs joined this suit, but given the Ellison/Trump ties, and fears of retribution, that tracks—and a high profile case like this will help them move up the electoral ladder, especially since Paramount and its leadership (the Ellisons, father and heir) have sided with the other side of the political aisle. That makes them unsympathetic to Democratic voters and Hollywood workers in particular. Why did this lawsuit happen? In addition to the very real concerns about industry consolidation, this is why. That said, I don’t think we would have seen this lawsuit for Netflix and Warner Bros., simply because they’re more sympathetic and aligned with Democrats. But those consolidation concerns are real. The “town”—meaning Hollywood and such—really is seeing the damage of mergers on this industry. That’s why the WGA also filed its own lawsuit in defense of workers as well. (Wildcard: What about Europe? Will they try to stop the deal, too? There have been some rumors out of the UK they may try to fight the deal, and UK enforcers just stopped a Getty Images-Shutterstock tie up, so there is precedence. This argument could go either way, though. On one hand, the EU doesn’t need to step in, cause they states are handling it. On the other hand, this could make the EU’s case easier. Just imagine if both sides coordinated. I’ll simply say, “We’ll see!”) Question: Will The State AGs or the WGA Win? Can the state AGs play David to Paramount-Skydance’s Goliath here? That’s really the whole thing, isn’t it? If you know this result, you could make a lot of money. When things are uncertain, it’s tempting to shrug and say, “Eh” meaning it’s a 50/50 proposition. I wouldn’t, though. When in doubt, you should expect that the merging parties succeed. AT&T did successfully buy Warner Bros., after all, and Disney bought Fox without any challenges. Many judges are extremely sympathetic to mergers, and I’d bet the state AGs get a judge who will allow the merger. (Even Obama-appointed judges often allow mergers.) As I understand it, we’ll see two main attacks. First, theatrical films. The AGs are arguing that, when it comes to share of box office and the number of both “wide releases” and blockbuster (or “tentpole”) films, the merging parties will have over 27% market share. Now, the Supreme Court once ruled from on high that any merger that exceeds 30% is presumptively illegal, but that’s guidance, not an ironclad bar. Still, the states will have to argue that this is close to having too much power, and with that power, this will likely further worsen the theater/studio splits in particular. Indeed, as Matthew Stoller pointed out, “just five studios are responsible for 95% of all blockbusters; if this merger goes through, then Paramount and Disney will control 60% of that.” So yes, movie studios will be very concentrated after this merger. Want me to visualize some of that? Well, here’s the share of films that grossed over $200 million at the domestic box office since 2022. (Note: this isn’t all films released in over 3,000 screens, but it is a good look at market power.) First, here are the 43 films by studio: Notice all the blue (Disney), orange (Universal), and purple (Warner Bros)? Yeah, those studios are powerful, and this combines Paramount with one of them. Here’s the look by studio and share of the films that grossed over $200 million: Now, if you look at that and also think, “Huh, should we break up Disney?” I’m with you. I’ve seen some folks poo-poo this idea that this is a real category, but it is! For an upcoming article, I’ve been pulling data on the share of top 100 films at the box office as a share of total box office, and it’s massive. Here’s the chart: (This analysis looks at The-Number’s top 100 films and total domestic box office each year.) To be clear, tentpoles make up 80.7% of the box office each year, so I do think it’s a genuine market. (To be clear, films grossing over $50 million make up 80% of the domestic box office, and films grossing over $100 million make up 64.1%.) I mean, the top 100 films at the box office make up 95% of each year’s grosses. Worse, the combined studios will likely cut output to flex that market power. Everyone can just look at what happened to Disney and Fox to see the precedent. (With fewer films, the remaining theaters have to give more for those few films that remain.) Here’s an image I’ve used a lot, the share of wide-release films from Disney and Fox over time: The AGs will also argue that this consolidation will also impact the cable industry. In this case, the consolidation is actually worse, but that environment is…complicated. Paramount will argue that the cable industry is shrinking. That said, predictions that cable will “go to zero” also don’t look very well supported by the data, as the declines are shrinking, meaning “cable” or “vMVPDs” will likely stabilize at some point. Can the state Attorneys General win on those two main arguments? I honestly don’t know. Again, I’d bet no, since history in general supports that, but it depends on the judge/jury and how they interpret the arguments. Notably, Paramount won’t face accusations about monopoly power in other areas, like streaming, news, sports rights, or vertical integration. I tend to disagree with leaving out sports rights, but I also see the appeal for a simpler case. The states also aren’t really pushing novel theories about labor harm either, which should help. (By the way, Sean McNulty at The Ankler wrote a great run through of potential options, and Capitol Forum also wrote a great paper on theatrical consolidation. Both these pieces predated the lawsuit. Matthew Stoller is also out with his analysis of the pros and cons of the case too.) In some ways, the WGA’s case is even stronger. Quoting Sean McNulty’s summary: “The WGA is citing WARNAMOUNT as crossing a 30% market share in multiple sectors, a number that the Supreme Court has precedent for deeming “presumptively anticompetitive” in a market. According to the WGA numbers, WARNAMOUNT would have represented: - 35% of film writing jobs between 2021 and 2024 - 36% of TV writing projects between 2022 and 2025 - 38% of overall deals between 2021 and 2024” Notably, antitrust enforcers did win recently in the Penguin-Simon & Schuster merger by focusing on labor impact, so don’t count this thinking out. (Wildcard: Will the states try to get a jury trial? Most likely no, they’ll let a judge handle it. If I’m them, though, I’d try to put this in front of a jury. Juries tend to understand monopoly power in a more realistic way than judges faced with legions of economists.) Question: What if They Win? What if They Lose?
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