AJ Perez, sports reporter for USA Today, discusses FOX's huge deal with the NFL and the quarterback trade shaking up the industry.
FOX will pay the NFL $3 billion over the next five years for the right to broadcast Thursday Night Football games. Perez says even though some might consider the FOX deal an overpay, sports is one of the few live television events still left, so it's actually good value for FOX. The network will be paying $15 million more per game than CBS and NBC were.
Perez also discusses the market-altering trade between the Washington Redskins and Kansas City Chiefs which will send quarterback Alex Smith to Washington. The deal will allow the Redskins to let go of quarterback Kirk Cousins. As a result, Cousins could become the highest paid player in the NFL.
Oracle soars as it cashes in on the AI boom, Plus: Starbucks shares continue to fall under its new CEO, and does anybody actually want a new iPhone Air?
Swedish buy now, pay later company Klarna is making its highly anticipated public debut on the New York Stock Exchange Wednesday, the latest in a run of high-profile initial public offerings this year. The offering priced at $40 Tuesday, above the forecasted range of $35 to $37 a share, valuing the company at more than $15 billion. The valuation easily makes Klarna one of the biggest IPOs so far in 2025, which has been one of the busier years for companies going public. Other popular IPOs so far this year include the design software company Figma and Circle Internet Group, which issues the USDC stablecoin..
Oracle co-founder Larry Ellison wrested the title of the world’s richest man from longtime holder Elon Musk early Wednesday as stock in his software giant rocketed more than a third in a stunning few minutes of trading. That is according to wealth tracker Bloomberg. A college dropout, the 81-year-old Ellison is now worth $393 billion, Bloomberg says, several billion more than Musk, who had been the world’s richest for four years. The switch in the ranking came after a blockbuster earnings report from Oracle. Forbes still has Musk as the richest, however, valuing his private businesses much higher.
