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Disney sues FCC over broadcast licenses challenge, claims ‘Kimmel’ retaliation
Disney filed the lawsuit Tuesday
Disney sues FCC over broadcast licenses challenge, claims ‘Kimmel’ retaliation
Disney filed the lawsuit Tuesday
Disney sues FCC over broadcast licenses challenge, claims ‘Kimmel’ retaliation
Disney filed the lawsuit Tuesday
Disney sues FCC over broadcast licenses challenge, claims ‘Kimmel’ retaliation
Disney filed the lawsuit Tuesday
Big Pharma trade group joins legal fight against Illinois drug discount law
PhRMA's lawsuit is the latest challenge to state-based laws designed to protect hospitals, clinics and pharmacies from unfettered access to 340B discounts.
UnitedHealth shareholders sue company over ‘corporate governance failures on a historic scale’
The lawsuit was filed by two major institutional investors who blame company leadership for the 2024 breach on Change Healthcare and accuse executives of facilitating alleged Medicare billing fraud.
Black Legislative Caucus warns of potential lawsuit from governor's executive order
Members of the Indiana Black Legislative Caucus say Gov. Mike Braun overstepped his authority and risked a lawsuit when he issued an executive order last month targeting a state diversity program.
Jury sides with Memorial Health in Camden Clark conspiracy suit
A federal jury has sided with Memorial Health in a lawsuit accusing WVU Medicine Camden Clark of secretly orchestrating a false federal lawsuit against the Marietta-based hospital system.
‘Show How 3M Is 0% at Fault:’ Expert Witness Used ChatGPT to Write Report Defending Company in Deadly Explosion Lawsuit
ChatGPT prompts show how an expert witness report was created in a $61 million lawsuit over an explosion that killed three people.
Everything the Trump administration did on health care last week
An executive order remaking the federal vaccine agenda, Epic's antitrust lawsuits, and more health news from Morning Rounds
Swope Health serves KC’s neediest. Its CEO faces troubling allegations
Lawsuits accuse CEO Jeron Ravin of reckless spending and retaliation against employees who raised concerns. From David Hudnall:
DePaul Athletics Health Staffer Sues Over Mid-Pregnancy Termination
Former Depaul associate athletic director Lucero Amaya is the second Blue Demons mental health provider to sue the university in the past six years.
Selena Gomez Dismisses 'Baseless' Fraud Claims Over Mental Health Startup
The singer and actor vows to fight a $1.2 million lawsuit by Wondermind investors who claim she 'falsely represented' her involvement in the wellness venture. Her lawyer calls the allegations 'completely meritless.'
Candidate wants lawsuit accusing her of conspiring against Miami judge thrown out
“The message to every Miami-Dade voter, donor, and volunteer is unmistakable: support this judge’s opponent, and this judge will put you in a caption,” the motion reads.
Selena Gomez blasts fraud lawsuit against her and her mother: ‘Completely meritless’
Selena Gomez broke her silence on the lawsuit accusing her and her mother of multiple counts of fraud, calling the suit ‘completely meritless’ in a statement from her lawyer.
DoD changes transitional health care eligibility for reservists following lawsuit
Reservists no longer need to demonstrate that their period of active duty service was connected to a war to qualify for transitional health care coverage.
SJC delays ruling on Boston’s White Stadium lawsuit, putting $325M plan at risk: ‘Political disaster’
Boston’s $325 million rebuild of White Stadium for a pro soccer team was dealt another blow this week, when the Supreme Judicial Court opted to take more time to consider an appeal from a community group seeking to kill the project.
Lawsuit alleges Newaygo County Jail, prison health providers failed to treat inmate’s MS
When Shane Veltkamp, now 31, entered the Newaygo County Jail in July 2023, he was fully mobile, independent and able to care for himself, although he would be diagnosed with multiple sclerosis, or MS, while detained, according to a lawsuit filed in the U.S. District Court for the Eastern District of Michigan against the county […]
Kansas City ends a construction equality program. Business owners want a say on a new one
The city council approved a plan to repeal the city’s 45-year-old Minority- and Women-Owned Business Enterprise Program after a lawsuit from Missouri’s attorney general alleged discrimination against white men. Business owners want input on the new small-business program meant to replace it.
Selena Gomez and her mom accused of fraud over their mental health startup
In a new lawsuit, investors say they gave $1.2 million to Wondermind to build out the company’s products and expected Gomez to be involved in marketing.
Selena Gomez and her mom accused of fraud over their mental health startup
Superstar Selena Gomez and her mother are accused of defrauding investors of their mental health startup, Wondermind, in a federal lawsuit filed Thursday.
Virginia hemp businesses file lawsuit over new restrictions taking effect Saturday
A major change is about to reshape Virginia’s hemp industry, with new restrictions set to take effect Saturday as several businesses try to stop the law.
Nessel sues Oakland County nonprofit for ‘deceptive’ business practices
A lawsuit filed Tuesday by Michigan Attorney General Dana Nessel seeks to dissolve a Waterford-based nonprofit for misrepresenting its housing assistance services to consumers.
Judge dismisses Trump administration lawsuit alleging antisemitism at Harvard
The decision from U.S. District Judge Richard G. Stearns said President Donald Trump's administration failed to prove an ongoing violation of federal civil rights laws.
Baltimore lawsuits allege illegal sports betting, prediction market gambling on Kalshi, Polymarket
The city of Baltimore is suing two companies over allegations of illegal sports betting and prediction-market gambling.
Fresno ranks among top cities for entrepreneurs as California business climate draws scrutiny
Fresno ranks sixth nationally for entrepreneurship as California small businesses face new rankings and the failure of an ADA lawsuit reform bill.
States Lack Uniform Rules for AI Health Liability
CRS report reveals state law gaps in AI health liability. Discover how early lawsuits expose the need for uniform frameworks. Read the analysis.
Tylenol precedent threatens to tighten science vetting in Camp Lejeune toxic water trials
In a national lawsuit, parents claimed taking acetaminophen during pregnancy caused their children to develop autism or ADHD. A higher appeals court recently issued a major ruling on how strictly trial judges must vet medical experts and scientific data before a jury is allowed to hear it. Now, federal lawyers have formally flagged that case for the Camp Lejeune judges, hoping to tighten restrictions on what science is allowed at trial.
Highland Health Systems; Albany Gastroenterology Consultants Settle Data Breach Lawsuits
Settlements have received preliminary approval to resolve class action data breach complaints against Highland Health Systems and Albany Gastroenterology Settlements have received preliminary approval to resolve class action data breach complaints against Albany Gastroenterology Consultants and Highland Health Systems stemming from breaches of patient data.
David Ellison is best argument to block Paramount-Warner Bros. deal
Paramount Skydance Chief Executive David Ellison faces an antitrust lawsuit over his proposed purchase of Warner Bros. Discovery. He recently threatened to move Paramount out of California if the suit is not settled.
In Paramount merger, law and politics collide
David Ellison is threatening to pull Paramount out of Hollywood if the state continues its lawsuit against his merger. Is that a real threat?
Lawsuit seeks to ban Trump Media from charging for early access to posts
The lawsuit alleges the service to offer paying customers sneak peeks violates the Constitution
$5K fee to fund universal child care leads businesses to sue Prince George's County
A lawsuit filed by a group of Prince George’s County business owners challenges a newly adopted county charge intended to help fund an ambitious child care init
A robotic heart surgery specialist was fired by Main Line Health for blowing the whistle on complications, lawsuit
Gianluca Torregrossa joined Main Line Health in 2021 under a lucrative five-year contract. Now he is suing the health system, saying he was retaliated for exposing a pattern of bad patient outcomes.
Health Gorilla lawsuits consolidated into multidistrict litigation
Nine class action privacy suits have been consolidated in federal court, and it could signal that judges are scrutinizing accountability for healthcare data in motion, say privacy experts.
Veolia files suit over PFAS compounds
Veolia Water Delaware filed a lawsuit in Delaware Superior Court on Tuesday, August 11, 2026, against nine companies it alleges have contaminated Veolia's drinking water sources with regulated PFAS compounds.
MontCo sues social media companies citing negative impacts on children's health
Officials in Montgomery County have brought a lawsuit against several companies claiming social media has a negative impact on children's health.
Trial lawyers reclaim political clout in Texas GOP’s MAGA wing
Texas plaintiffs’ lawyers are bankrolling populist GOP insurgents. Tort reform groups like Texans for Lawsuit Reform are aghast.
What to know about the businesses at center of Buc-ee's trademark suit
Supporters have likened Buc-ee's lawsuit against Beaver's Mini Mart to David and Goliath. But just how small is Beaver's Mini Mart?
Stop Killing Games Joins Dutch Consumer Group's $457M Lawsuit Against Sony Over Digital Store 'Monopoly'
The Stop Killing Games movement is officially suing Sony, claiming the company’s “monopoly” over the video game market is blatantly “against the law.”
‘We are professionals’: Coalition of Public Service and Health Care Unions Sue to Block New Department of Education Student Loan Rule That Will Hurt Patient Care and Worsen Staffing Crises
WASHINGTON – A coalition of unions representing hundreds of thousands of public service and health care workers filed a lawsuit this week challenging the Department of Education’s new RISE rule.
Stop Killing Games Joins Lawsuit Against Sony's Digital 'Monopoly'
Both Stop Killing Games and DoesItPlay are lending their support to a lawsuit against the digital 'monopoly'
Trump DOJ formally stakes out bold claim that presidential advisers outside government are protected by privilege
Communications that President Donald Trump has with advisers who don’t even work for his administration can be protected by executive privilege, the Justice Department said in a memo Monday evening that comes amid lawsuits and a possible Democratic takeover of Congress.
A trail of business disputes preceded FBI raid on developer Andy Card
Lawsuits accused the Westfield developer of setting up 'alter ego' companies and commingling funds. Card has fought back against the allegations.
Saber's newest game trailer takes a shot at Gearbox's CEO, if you look closely
The first hint that something might be up with the recent debut trailer for Saber Interactive’s Rideshare Stimulator is an unusual choice of words—aside from that second one in the game’s title. “Don’t take your passengers too seriously,” the trailer’s narrator says, as he describes this upcoming game. It a car game about the gig work of driving eccentric people to their destinations, a riff on Crazy Taxi. And then, he says: “When I think I’ve met the randiest of passengers, someone even stranger gets in.” “Randiest”? That suggests “randy,” which usually means having strong sexual desire. Yet none of the oddball backseat occupants featured in the trailer seem particularly lustful. One is an old man who considers his grandson a failure, another shares the theory that birds might control traffic lights, another says he’s banned from an aquarium. A little later, there’s a license plate, shown 63 seconds into the trailer, on the front of an SUV: USB DRV It’s a Texas plate. The symbol between those letters is a cog wheel. If you know, you know. That’s a reference to Texas-based Borderlands game development studio Gearbox Software (their logo features a cog wheel). More specifically, it’s a reference to Gearbox’s CEO Randy Pitchford, who in 2018 found himself explaining the nature of video he’d saved on a USB drive that was found at a Medieval Times restaurant before being returned to the studio: “It was ‘barely legal’ porn. This girl’s handle was ‘Only 18.’” The “girl” in the video had committed a solo sex act that Pitchford, an avid practitioner of magic, found remarkable. “I realized, this is not a sex worker…This is a fucking magician.” Back then, the USB drive was central to competing lawsuits against Gearbox by the studio’s former lawyer and by Gearbox against him. A settlement in late 2019 “exonerated” Pitchford, per the Hollywood Reporter. The USB story has resurfaced at times, now in a trailer from a company that not long ago was corporate brethren with Gearbox. Saber vs. Gearbox The head of Saber told Game File that the reference is payback. “The dig is because Randy took shots at Embracer in Borderlands 4,” Saber CEO Matt Karch told me when I asked him about the license plate. “Without Embracer, Randy is performing magic tricks at birthday parties for a living.” Having interviewed Karch during a cross-country flight in late 2024, I can confirm that Karch was unimpressed with Pitchford during their time both working in the Embracer group. I’d approached him not out of surprise that there was animosity but that it was manifesting publicly now. Gearbox was founded in 1999, worked on a port of Halo early on, and developed hit series such as the loot-based sci-fi shooter Borderlands before it was purchased by The Embracer Group in early 2021 for $363 million (with a possible earn-out of over $1 billion, if certain targets were hit by 2027). Saber was founded in 2001, worked on a remaster of Halo early on, had a big hit with zombie shooter World War Z and was purchased by Embracer in early 2020 for $150 million, with a potential earn-out of up to $375 million. For a few years, the Embracer group was a voracious acquirer of game studios. Then, as investment dried up, it choked. In March 2024, Embracer sold Saber to an investment company controlled by Saber CEO Matt Karch, and it sold Gearbox in an all-stock deal to long-time Borderlands publisher Take Two Interactive. Other studios were shut down. Hundreds of developers were laid off. Gearbox didn’t say much about their Embracer experience, nothing too direct, at least. In the summer 2024, Pitchford told reporter and occasional Game File contributor Nicole Carpenter that Borderlands 4’s story was in some way thematically connected to Gearbox’s experience at Embracer: “There’s this cultural and emotional shift in me, personally, and at the studio. What does it mean to trade some autonomy for organization?” When Borderlands 4 came out, there was something stranger: the matter of “Embracer’s Bluff,” a location in the game featuring an AI-powered toilet and a large trash dump, according to a detailed Kotaku account of the place. Gearbox never commented on it; Take Two never got back to me about it when I asked them last year. By contrast, since Saber exited Embracer, Karch has been one of Embracer’s biggest defenders, casting their management as well-meaning and supportive despite the layoffs and studio closures that resulted from their excessive expansion. Like others, Saber’s Karch saw Embracer’s as a shot. With Rideshare Stimulator’s trailer, he’s returned fire. “It’s amazing to me how fast people forget those who went above and beyond for them,” Karch told Game File. A rep for Gearbox did not comment by press time. Game File is a reader-supported publication. Your backing makes my reporting—including any coverage of trailer-based beefs—possible. Good news! I’m currently running Game File’s first big sale of 2026. You can get a one-year subscription for 23% off. Click here to take advantage of the limited-time offer. And thank you for your support! Item 2: In brief… 🚫 Wal-Mart has laid off the staff of Restart, a games media outlet launched in 2024, Aftermath reports. 🟥 A GTA VI preview is on the way, at last, via an “extended look” that will premiere, unusually, on Netflix at 3pm ET on August 27, then officially go live elsewhere six hours later. Last week, Game File noted that Take Two label Rockstar Games is overdue for showing off GTA VI, based on the timing of the initial hands-off previews of GTA V and Red Dead Redemption 2. During a call with investors, Take Two CEO Strauss Zelnick said pre-orders for GTA VI were “unprecedented and astonishing,” but added the company can’t predict how many of those pre-orders represent bonus sales vs. sales that otherwise would have been made at launch. During the same call, Zelnick was noticeably bullish on the future of playing games over streaming cloud connections (predicting wider adoption in three or so years). He sounded unbothered by Sony’s plans to stop making discs for new games (he said the business is 90% digital already and predicted that there could still be limited edition physical editions of games “in the same way there’s still vinyl in the recorded music business.”) 👀 Take Two wrote off $43 million in their spring quarter after deciding “not to proceed with further development of an unannounced title in its pipeline from a third-party developer.” 🤔 Some rare age-demographics from a big publisher: Capcom recently told investors that “users in their 20s account for approximately half of the users of both Pragamata and Resident Evil Requiem.” Item 3: The week ahead Tuesday, August 11 Game releases: The Elder Scrolls IV: Oblivion Remastered (Switch 2; already out for PC, PS5, Xbox) continues the Bethesda strategy of putting Elder Scrolls games on everything; Royalty Free-For-All is a Smash Bros.-style fighting game featuring public domain characters such as Mother Goose brawling with Oliver Twist in a stage based on the original Little Shop of Horrors movie. Wednesday, August 12 Game release: Pro Jank Footy (PC, console) is an arcade-style Australian Rules Football game with increasingly ridiculous rules, the more you play (I enjoyed the Steam demo) Thursday, August 13 Game release: Super Mario Sunshine (Switch 2, originally released in 2002 on the GameCube) is released for Switch 2’s Nintendo Switch Online service. This game is the black sheep of 3D Mario games. It’s the successor to the breakthrough Super Mario 64 and the rare Mario game built around a single (vacation resort) theme. Mario’s got a water-spraying backpack, a Yoshi pal and a lot of blue coins to collect.
Hemp businesses ask federal judge to block Virginia’s new THC cap
Seven Virginia hemp businesses are asking a federal judge to block new restrictions on consumable hemp products, arguing the changes will wipe out much of their inventory, trigger layoffs and force some companies to close when they take effect on Aug. 15. The lawsuit, filed July 31 in the U.S. District Court for the Western District of Virginia, challenges a new provision in the state budget that will eliminate an exception for products containing more than 2 milligrams of tetrahydrocannabinol (THC) per package when they also contain at least 25 times as much cannabidiol (CBD).
Robert Carradine’s family accuses UCLA of wrongful death and elder abuse in lawsuit
Robert Carradine’s family has filed a lawsuit against UCLA alleging wrongful death and elder abuse, claiming several points of protocol were broken during his stay at the Resnick Neuropsychiatric Hospital.
Is social media addiction real? Law, science collide in blockbuster suit
Several states allege Meta intentionally designed its products to addict kids and repeatedly lied to the public about it.
Law and science collide in federal lawsuit over social media addiction
Attorneys for Meta and other companies have argued that because social media addiction has not been formally recognized by the medical community, they cannot be held liable when sued over it. But the standard for a diagnosis is changing, and judges have been skeptical of those arguments.
Fort Worth Councilman Michael Crain’s lawsuit against former business partner dismissed
Will Northern also announced progress in the development of Woodhaven Country Club property that was central to the lawsuit.
Lawsuit filed against Mamdani administration's rollout of pied-à-terre tax
Their lawyer is a high-profile critic of Mayor Zohran Mamdani: former First Deputy Mayor Randy Mastro.
Health and safety complaints trigger state investigation at NKY long-term care facility
After a sexual assault allegation & a wrongful death lawsuit, an independent care facility is now under a state investigation.
Meta Ordered to Pay $567M in Youth Mental Health Lawsuit
Technology giant Meta will pay $567 million into a remediation fund after a New Mexico judge ruled the company behind social media platforms Facebook and Instagram misled consumers about the safety of its products and endangered children. Judge Bryan Biedscheid said Thursday that Meta’s platforms ...
Trump considering renewing push to fire Lisa Cook from Federal Reserve Board
President Donald Trump is signaling that he may move forward with his attempt to fire Federal Reserve Board Governor Lisa Cook over mortgage fraud allegations.
Patrick Mahomes, Travis Kelce accused of minimizing role in steakhouse lawsuit
A sneaker company is accusing Patrick Mahomes and Travis Kelce of downplaying their role in the 1587 Prime steakhouse amid a trademark dispute.
Boone Health sues cardiologists, Pulsepoint over alleged noncompete violations
The lawsuit seeks to stop two Columbia cardiologists from offering competing services in the area until May 2027.
Community Ambulance sues Dignity Health over alleged corporate cover-up
Community Ambulance has filed a federal lawsuit against Dignity Health, alleging the hospital system concealed a corporate change of control to prevent the ambulance operator from exercising a contractual buyout option.
EXCLUSIVE: Oversight Project sues to block Maryland Democrats’ redistricting measure backed by Gov Moore
A redistricting lawsuit alleges Maryland officials missed mandatory deadlines for HB 2100 and used a last-minute clause to bypass certification rules.
Central Ohio small business comes to aid of store in Buc-ee’s fight
UPPER ARLINGTON, Ohio (WCMH) — A central Ohio bakery is helping a Dayton-area business in its legal battle against travel center chain Buc-ee’s. Buc-ee’s has filed a trademark lawsuit a…
Museum that raised noise concerns now seeks approval for live entertainment, alcohol service
LAS VEGAS (KLAS) — The Southern Nevada Art Museum has been at the center of a debate over noise and nightlife in Las Vegas’ Arts District, even filing a lawsuit over activity from a nearby li…
Lawsuit filed against N.Y. state's lead paint regulations
Petitioners from several nonprofits say regulations don't satisfy the requirements of a state law that went into effect last year.
Apple flags delays in Jon Prosser’s response to leak lawsuit
In a joint status report filing, Apple said it hadn’t heard from Jon Prosser’s lawyer in a month, which his counsel attributed to Prosser caring for his newborn child.
Parents argue new lawsuit against Ten Commandments in classrooms
The posters have already survived legal scrutiny under the Establishment Clause, but these parents are relying on a Texas law that prohibits the state from substantially burdening a person’s free exercise of religion.
NCAA Division II votes to approve age-based eligibility model
NCAA Division II will move to the age-based eligibility model that has prompted athlete lawsuits across the country since it was adopted in Division I.
Federal workers file class action lawsuit over transgender health coverage ban
Five federal workers filed a proposed class-action lawsuit Monday against the Trump administration, alleging that a federal health insurance policy excluding gender-affirming care violates federal emp...
Lawsuit over Missouri’s congressional map could throw a wrench into midterms
If the court approves the request for a referendum, it could raise questions about whether Tuesday’s primary winners under the new map are the official nominees.
Texas giant sues Beavercreek small business over logo dispute
Buc-ee’s filed a lawsuit on July 28 in U.S. District Court in Dayton against Hanes Road Carryout, which operates here as Beaver’s Mini Mart.
Sports' sordid side shows in Ole Miss-LSU transfer lawsuit
Last season, Princewill Umanmielen and Devin Harper helped Ole Miss to the most football victories in school history. This season, they will play for the Rebels' hated rival, LSU.
Trump seeks to shield his business finances from BBC in libel lawsuit
The president is trying to revise his lawsuit against the British broadcaster to focus on harms to his reputation allegedly caused by a network documentary.
Court says defamation suit raises First Amendment questions
A federal appeals court has signaled that it might not allow a lawsuit brought by New England fishing businesses and industry groups against a California aquarium to proceed because of the case's potential impact on free speech.
Group files lawsuit challenging mobile sports betting law
Subhead under Facebook & Twitter headlines.
Paramount's chairman says lawsuit opposing Warner Bros. merger is political
An antitrust lawsuit has put Paramount's bid for larger rival Warner Brothers Discovery in jeopardy. Paramount's chairman says the problem is really about politics — and whether he's fit to own CNN.Support public media with NPR+ and enjoy perks for over 25 podcasts like this one. This show’s perks include sponsor-free listening. Learn more at plus.npr.org.
Former Pokémon Exec Accused of Hiding Video Cameras in Office Bathroom to Record Women and Girls
The Pokémon Company's former director of engineering at its Bellevue, Washington headquarters is now the subject of a class-action lawsuit, after the discovery of a hidden camera concealed in one of the building's bathrooms.
Conservative groups sue to stop online sports betting in Wisconsin
A lawsuit from conservative groups claims Wisconsin's new online sports betting law is unconstitutional and must be struck down.
Lawsuit filed asking Wisconsin's sports betting law be declared unconstitutional
The Wisconsin Institute for Law and Liberty filed the suit Wednesday, asking a judge to declare Wisconsin's sports betting law unconstitutional.
Former Attorneys General, Business Associations, and Former Department of Labor Leaders Support Family Farm’s Supreme Court Case
ARLINGTON, Va.—In its fall term, the U.S. Supreme Court will consider a lawsuit challenging the constitutionality of the Department of Labor’s agency court system. New […]
Mountain West, Pac-12 finalize settlement over 'poaching' and exit fees
The Pac-12 and some of new the schools joining the conference filed a lawsuit in California in 2024, claiming the poaching clause the league agreed to when it signed a
Capital One dismissal bid puts Trump's JPMorgan Chase "political debanking" lawsuit in sharper focus
New filing in Trump's Capital One case spotlights the challenge of proving political bias when banks can broadly close accounts at their discretion.
Resident sues over $57 million Western Hills Sports Mall development
A lawsuit alleges the Cincinnati Planning Commission violated open meeting laws before approving the $57 million Westline Flats project in Westwood.
WA lawyers seek to hand Trump admin 21st loss in voter-roll lawsuits
Attorneys for the Justice Department and WA Secretary of State Steve Hobbs clashed at a court hearing over a federal lawsuit demanding state voter data.
Onondaga Co. legislature votes to obtain legal counsel against election board
The vote does not trigger a lawsuit but gives the legislature the ability to pursue one if deemed necessary.
3 FBI agents fired over Trump investigation get broad backing in lawsuit against administration
The agents were terminated as part of a broader personnel purge by FBI Director Kash Patel that has targeted employees who investigated Trump or are perceived as being against the administration's interest.
Buc-ee’s lawsuit sparks a beaver takeover across Ohio cities
Major gas station chain Buc-ee's is suing Beaver's Mini Mart in Beavercreek. Ohio businesses are adding temporary beaver logos in support.
MrBeast Sales Slow, Angel Stock Falls, MUBI and Neon Look for Hits, and Will an NBA Franchise Set a Sales Record?
(Welcome to the Entertainment Strategy Guy, a newsletter on the entertainment industry and business strategy. I write a weekly Streaming Ratings Report and a bi-weekly strategy column, along with occasional deep dives into other topics, like today’s article. Please subscribe.) You probably remember egg prices spiking a few years ago. This led to a lot of debate between the pro-market/pro-competition/antitrust/Neo-Brandesian crowd and the center/center-right/center-left/abundance/libertarian crowd over the cause, whether it was the avian flu outbreak or whether industry consolidation led to price fixing, using avian flu as a convenient cover. Basel Musharbash wrote a whole investigation at BIG looking at it. Well, two years later, we have our answer: it was price fixing. The Justice Department found proof, via emails, of price fixing. Indeed, just the threat of an investigation brought prices down two years ago: I bring this up because at least half a dozen of my favorite political writers and pundits, who were skeptical about price fixing at the time, haven’t written any mea culpas on this issue. It’s really dispiriting and makes it much, much harder to trust their work on other issues. If you take a hard stand on an issue, then you get it wrong, you need to explain how and why you got it wrong. Or update your priors. This is how epistemological bubbles are formed! All of which is to say, it’s time for another installment of “What I Got Right, What I Got Wrong”. Last issue, I mostly focused on the “wrong” side of the equation, so today’s is a bit more balanced, but with one big mea culpa (though I still stand by my original concerns). Let’s dive right in! Subscribe CORRECTION: UFC Didn’t Release Subscriber Data (But Seems to Have Bragged About It Internally) In my analysis of the viewership of UFC Freedom 250, I wrote... “Paramount has also released datecdotes bragging about their subscriber numbers. Earlier this year, they claimed that the first UFC fight on Paramount+ brought in 1 million subscribers.” Well, that datecdote did not come from a PR rep, but from great reporting from James Faris at Business Insider. The actual quote was this: “Paramount’s flagship streaming service generated about a million new subscribers on the day of its first-ever UFC event, Paramount product chief Dane Glasgow told employees in a town hall on Tuesday morning, three staffers who attended the meeting told Business Insider.“ This wasn’t the biggest goof in the world; even Faris emphasized to me that this is more a “clarification” than a correction. Still, it sounds like, internally, the folks at Paramount were very happy about this result—and I’m guessing they were happy with this news getting out—even though the gains didn’t last through the quarter, dropping to 700K adds. RIGHT: MrBeast’s Struggles Continue... I’m very skeptical about MrBeast’s burgeoning media “empire” and, in particular, its $5 billion valuation, as I wrote earlier this year and last year. Sure enough, according to Business Insider, regarding its “booming” consumer products division_:_ “US sales volume grew 13% year-over-year in 2025, following a 33% leap the previous year, according to a presentation deck dated May 2026....A February 2025 investor deck viewed by Business Insider showed Feastables’ net revenue more than doubled in 2024 from 2023, to $215 million, and was forecast to grow 74% in 2025, to $375 million.” [Emphasis mine.] If you told investors that you projected 74% growth but delivered 13%,1 that’s not ideal. But it’s not just MrBeast. Logan Paul and KSI’s Prime had sales drop in half for their energy drinks. It’s one thing to build a successful entertainment company and an entirely different thing to succeed in the heavily-consolidated-but-also-very-competitive consumer packaged goods space! CPGs are dominated by a few firms with very wide moats compared to YouTube, which has few barriers to entry. These businesses require different skill sets and have completely different business environments. WRONG: Does the NBA Have an $8 Billion Bidder? Almost as soon as I published my article about the NBA’s finances, casting skepticism on NBA expansion, I saw this Front Office Sports headline: One group “claims to have already raised $8 billion” for the Vegas expansion team. I mean, wow. That’s just $2 billion less than what the Los Angeles Lakers were valued at when they were sold just last year. And they’re arguably the most popular team in the NBA. (Side note: the new owner is now under an investigation for fraud in how he went about financing the Lakers and the Dodgers purchases.) So much for the “dried up” language I used in that article. (This is why I usually stick to my “Entertainment Nuance Guy” tone in articles...) I went off old information—from April, when I read/heard about the NBA downplaying expansion efforts—instead of doing a quick double-check for new news. That said...if you read the article, the market for Seattle is “slow”, with just one reported bidder. So I wasn’t entirely off. This goof has annoyed me since I first published it, mainly because it undercut that article’s real point, which I stand by: NBA franchises are really overvalued right now. Now, I get why NBA teams are overvalued. When it comes to owning sports teams, it’s basically never wrong to assume that some rich person somewhere will care more about owning a team (or just being part of a group since they’re so expensive) than the actual financials. There are only so many teams to own, and opportunities to buy in preferred markets don’t come along very often. This explains why the teams sell for such high multiples (usually above a 10 to 12.5 revenue multiple, which is very high). You only need one person to overpay! Beyond the ultra-wealthy luxury good explanation, I worry NBA teams are becoming speculative assets. More and more private equity investors are buying into NBA teams. But the value, in owning a team, comes from selling it later, not any meaningful relationship to revenue or profit growth. In other words, the newer NBA owners are increasingly expecting someone later to buy their inflated asset. That’s not sound economics; that’s the “greater fool” theory at work.2 At some point, actually making money has to matter. Especially since revenue growth is now below the growth of the stock market. (And this matters because the NBA doesn’t have easy levers to pull to drastically lower their costs—half of their revenue has to go to players and then you actually have to run a team, including coaching, training, travel, media expenses, and more—or raise revenues aside from one-off expansions in America and overseas.) I just don’t see how investors make their money back buying NBA teams, except for selling at a higher price later on down the line. But if revenue/profit growth continues to slow, at some point, someone will be left holding the bag. RIGHT: Baseball and Basketball are about equally popular. Related to the above, I wanted to cite two quick pieces of evidence for one of my other theories: that the NBA and MLB are about as popular as each other, but the NBA gets much, much better media coverage. One YouGov survey has that fans prefer basketball to baseball by 52% to 48%, which I’m guessing is within the margin of error for that poll. That’s virtually even, meaning they’re about the same popularity. Over on NBC, a recent Red Sox-Yankees game averaged 4 million viewers, higher than Sunday Night Basketball’s average of 3.4 million on the same network. A Yankees-Dodgers game averaged 3.9 million two weeks ago. Not every game averages this much, but it shows you that baseball isn’t far off from basketball, depending on the matchup. Altogether, the NBA is just slightly more popular than baseball, but NBC is paying MLB a fraction of what they pay the NBA, a point I’ve made before. RIGHT: Angel, MUBI and Neon Updates... I’ve long been skeptical about many of Hollywood’s buzziest startups/smaller indie studios. It’s not that they don’t make great movies—films like Anora and Everything Everywhere All at Once are amazing—or that they’re not (rightfully) pushing the majors to make better films, but...they get a ton of hype, and that hype often doesn’t live up to the reality or difficulty in scaling up. Starting with MUBI, well, The Wall Street Journal wrote a feature on MUBI’s struggles last April, best summarized by the subheader “After Sequoia valued Mubi at $1 billion, a left-wing revolt sent the indie film company into a tailspin”. MUBI lost $7.3 million on $200 million in revenue in Q4 2025, but reportedly hit a record 1.7 million subscribers at the end of Q1. As for Neon, Department M purchased a “significant stake” in the company earlier this year. How much is that “stake” worth? According to Deadline, “No financial figures for the Neon-Department M deal were disclosed.” So...that’s not great! If it was a big valuation, we’d hear about. Also, I found this curious: “Both Neon and Department M already have separate partnerships with Qatar. The Qatar Film Committee has a slate deal in place with the former, and a biopic production pact with the latter.” Color me skeptical about much Middle Eastern investment dollars. See: LIV Golf. Finally, as for Angel (formerly Angel Studios), their stock very, very slightly popped last month after Young Washington ($20 million budget) which made $45 million in the US, but their stock is still way down from its opening. Smaller Updates RIGHT: The WGA should focus on antitrust concerns! I’ve been on this for years. Post-WGA/AMTPT deal in 2023, I wrote an article for the Ankler calling on the WGA to focus and organize against industry consolidation. Sure enough, the WGA filed a lawsuit against the Paramount-WBD merger, and people are organizing around this issue now. I wish this energy had coalesced earlier (specifically to lobby Washington much earlier), but better late than never! WRONG: Actually, the chip shortage might be due to market manipulation. In my last “Long Reads for the Long Summer” article, I shared an article about how LLMs are causing memory chip prices to spike, which will make all electronics more expensive. Well, turns out, three RAM manufacturers control 90% of the market, and now a private lawsuit accuses them of price-fixing. So yeah. WRONG/UPDATE: The Odyssey will hold! Two weeks ago, I wrote, “As of this moment, we haven’t had a super-blockbuster, though The Odyssey, Spider-Man: Brand New Day and Avengers: Doomsday could all cross the $500 million mark. (At this point, The Odyssey would need a very strong hold to get there.)” Well, it’s safe to say it’s going to have that hold! It only dropped 30% in weekend two and IMAX screenings are sold out all month. Spider-Man: Brand New Day is also off to a great start. RIGHT: People are rushing to get shows out yearly. I’ve long been bullish on yearly, weekly-released shows, and Leslie Goldberg at The Ankler wrote about how many people in town are now listening. WRONG: Mark Carney reverses Canada’s stance on homegrown production. After writing about Canada installing domestic production quotas, Canada has backed off. WRONG: I don’t trust Spider-Man: Brand New Day’s online “views”. When I originally wrote about the latest Spider-Man film’s record-breaking trailer, I thought this was just YouTube views, but after watching this Corridor Crew video and doing more research, well, it’s all social views of the trailer globally. Really? That stat includes TikTok, Reels and YouTube Shorts views. Basically, I don’t trust it anymore. (This film will probably set record, but I trust the pre-sales data more.) RIGHT: Celebrity Production companies are still struggling. I’ve written about this for years, but the company that I didn’t track was Kevin Hart’s HartBeat, which was valued at $650 million but is struggling now and might just end soon, especially after Kevin Hart pulled his endorsement deals. And Bad Robot is moving to NYC. CORRECTION: SpongeBob is a “second run” title. In my 2025 recap article, I had _SpongeBob SquarePants_labelled as a “library” title, when it is still a “second run” show, with new episodes still coming out on Nickelodeon. CORRECTION: In my last “What I Got Right, What I Got Wrong” update, I offered a correction from Doug Creutz and misspelled TD Cowen. Thanks, Grammarly! 1 Though he could have increased prices to make up for the gap, he couldn’t have increased them that much. 2 There’s a theory, which I think that Daryl Morey created and Bill Simmons popularized, that, to be successful building your team, you only need a handful of bad GMs in the league to take advantage of. To be clear, Daryl Morey’s theory was also for signing bad contracts, that you could always get out of bad contracts. Basically, there’s always someone who will make a bad trade. It’s not the same exact thing, but similar enough to the Greater Fool Theory that I really like it.
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