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Walt Disney, Reliance Industries Complete $8.5B Merger Of Indian Media Assets
December 18, 2024
Walt Disney and Reliance Industries announced Thursday the completion of the $8.5 billion merger of their Indian media assets after securing relevant regulatory approvals. Joint venture The joint venture (JV) is controlled by Reliance, which holds a 16.34% stake, while its majority-owned Viacom 18 Media has a 46.82% stake. Disney retains a 36.84% stake, according to a joint …
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US SEC Reopens Investigation Into Elon Musk’s Brain-Chip Startup Neuralink
The US Securities and Exchange Commission (SEC) has reopened a probe into Elon Musk’s neuro-technology startup Neuralink, according to the billionaire’s lawyer, Alex Spiro. SEC scrutiny A letter from Spiro to the outgoing SEC Chair Gary Gensler, shared by Musk on X, stated that the agency staff on Wednesday issued a settlement demand requiring Musk to …
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Genshin Impact Creator MiHoYo Powers Three New Billionaires Onto China’s 100 Richest
The cofounders of gaming sensation miHoYo are looking at leveraging AI for their next generation of titles. A string of mega-hits from miHoYo, the creator of breakout success Genshin Impact, an anime-styled action adventures game, propelled three new billionaires into the ranks of China’s 100 Richest. The Shanghai-based games developer, valued at an estimated $20 billion, is …
James Peng Loses Billionaire Status As Valuation Of Pony.ai Plummets
James Peng, chairman and CEO of Chinese autonomous driving company Pony.ai, dropped off the billionaire list after the company he cofounded in 2016 saw its valuation plunge almost 50% over the past two years. Pony.ai is now worth $4.5 billion based on the top end of a price range indicated in a prospectus, down from …
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