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Today β€” March 23rd 2019Your RSS feeds

Pinterest Is Rare β€˜Unicorn’ Preparing an I.P.O. Without Hemorrhaging Cash

By ERIN GRIFFITH

The start-up, which lets people create virtual “pin boards,” officially joined the herd of tech companies stampeding to the public markets this year by unveiling its offering prospectus.

Yesterday β€” March 22nd 2019Your RSS feeds

Indonesia’s National Airline Seeks to Cancel Order of Boeing Max 8s

By MUKTITA SUHARTONO and AMIE TSANG

The request from the carrier, Garuda Indonesia, is the first publicly confirmed attempt to cancel a Max 8 order since the deadly crash in Ethiopia this month.

New Clues on Tesla Sales Point to a Recent Drop

By NEAL E. BOUDETTE

A compilation of state data indicates a big decline for the electric-car maker after a federal tax credit was reduced.

Indonesia’s National Airline Seeks to Cancel Order of Boeing Max 8s

By MUKTITA SUHARTONO and AMIE TSANG

The request from the carrier, Garuda Indonesia, is the first publicly confirmed attempt to cancel a Max 8 order since the deadly crash in Ethiopia this month.

Before yesterdayYour RSS feeds

Doomed Boeing Jets Lacked 2 Safety Features That Company Sold Only as Extras

By HIROKO TABUCHI and DAVID GELLES

Airlines had to pay more for two optional upgrades that could warn pilots about sensor malfunctions. Boeing now plans to make one of the features standard.

Ethiopian Airlines Installed Max 8 Simulator, but Pilot on Doomed Flight Didn’t Get Training

By SELAM GEBREKIDAN

While Ethiopian Airlines was among the first to install the Boeing 737 Max 8 simulator, the captain of Flight 302 had not trained on the simulator.

Confusion, Then Prayer, in Cockpit of Doomed Lion Air Jet

By HANNAH BEECH and MUKTITA SUHARTONO

Indonesian investigators described the sounds emanating from the cockpit as the flight crew fought to take control of a plane that seemed almost magnetically propelled toward earth.

Disney Moves From Behemoth to Colossus With Closing of Fox Deal

By BROOKS BARNES

The $71.3 billion acquisition of most of Rupert Murdoch’s entertainment empire is officially done. The ripple effects may not become clear for years.

Disney Moves From Behemoth to Colossus With Closing of Fox Deal

By BROOKS BARNES

The $71.3 billion acquisition of most of Rupert Murdoch’s entertainment empire is officially done. The ripple effects may not become clear for years.

Disney closes 21st Century Fox acquisition

By Robert Briel

The Walt Disney Company’s acquisition of 21st Century Fox will become effective at 12:02 am ET, March 20, 2019.

In a related move, Fox Sports and Fox Broadcasting will join Fox News as assets that will make up the newly created Fox Corporation — which is officially a stand-alone, publicly traded company.

“This is an extraordinary and historic moment for us—one that will create significant long-term value for our company and our shareholders,” said Robert A. Iger, Chairman and CEO, The Walt Disney Company.

“Combining Disney’s and 21st Century Fox’s wealth of creative content and proven talent creates the preeminent global entertainment company, well positioned to lead in an incredibly dynamic and transformative era.”

“With 21st Century Fox’s iconic collection of businesses and franchises, Disney will be able to provide more appealing high-quality content and entertainment options to meet growing consumer demand; increase its international footprint; and expand its direct-to-consumer offerings, which include ESPN+ for sports fans, the highly-anticipated Disney+ streaming video-on-demand service launching in late 2019; and Disney and 21st Century Fox’s combined ownership stake in Hulu,” the company said in a statement.

The acquisition includes 21st Century Fox’s film production businesses, including Twentieth Century Fox, Fox Searchlight Pictures, Fox 2000 Pictures, Fox Family and Fox Animation; Fox’s television creative units, Twentieth Century Fox Television, FX Productions and Fox21; FX Networks; National Geographic Partners; Fox Networks Group International; Star India; and Fox’s interests in Hulu, Tata Sky and Endemol Shine Group.

Disney and 21st Century Fox entered into a consent decree with the U.S. Department of Justice last year under which Disney will divest 21st Century Fox’s Regional Sports Networks.

Earlier today, 21st Century Fox completed the spin-off of a portfolio of 21st Century Fox’s news, sports and broadcast businesses, including the Fox News Channel, Fox Business Network, Fox Broadcasting Company, Fox Sports, Fox Television Stations Group, and sports cable networks FS1, FS2, Fox Deportes and Big Ten Network, and certain other assets and liabilities, into Fox Corporation (see new logo at the left).

Disney is also acquiring approximately $19.8 billion of cash and assuming approximately $19.2 billion of debt of 21st Century Fox in the acquisition. The acquisition price implies a total equity value of approximately $71 billion and a total transaction value of approximately $71 billion.

Can Ethiopia’s Long Love Affair With Boeing Survive the 737 Max Crash?

By SELAM GEBREKIDAN

The manufacturer is so revered in the country, planes are often referred to as “Boeings.” The Max 8 crash may change all that.

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