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Disney to pay almost $439 million to take full control of streaming service Hulu

Disney to pay almost $439 million to take full control of streaming service Hulu

By MICHELLE CHAPMAN AP Business Writer

Disney will pay Comcast’s NBCUniversal nearly $439 million for its stake in Hulu, taking full control of the streaming service.

The move closes out an appraisal process that’s dragged on for a few years. Disney said in November 2023 that it was acquiring a 33% stake in Hulu from Comcast for at least $8.6 billion. That amount reflected Hulu’s guaranteed floor value of $27.5 billion, according to a regulatory filing.

Disney has run Hulu since 2019, when Comcast ceded its authority to Disney and effectively became a silent partner.

Hulu began in 2007 and quickly evolved into as a service backed by entertainment conglomerates who hoped to stave off the internet with an online platform for their own TV shows. Disney joined in 2009, planning to offer shows from ABC, ESPN and the Disney Channel. A decade later, Disney gained majority control of the business when it acquired 21st Century Fox.

Disney said in a regulatory filing on Monday that its appraiser arrived at a valuation below the guaranteed floor value during the initial phase of the appraisal process, while NBCUniversal’s appraiser arrived at a valuation substantially in excess of the guaranteed floor value.

A third appraiser was brought in and concluded that The Walt Disney Co. will pay $438.7 million for the Hulu stake.

“We are pleased this is finally resolved. We have had a productive partnership with NBCUniversal, and we wish them the best of luck,” Disney CEO Bob Iger said in a statement. “Completing the Hulu acquisition paves the way for a deeper and more seamless integration of Hulu’s general entertainment content with Disney+ and, soon, with ESPN’s direct-to-consumer product, providing an unrivaled value proposition for consumers.”

The transaction is anticipated to close by July 24. It’s not expected to impact Disney’s fiscal 2025 adjusted earnings forecast.

Shares of Disney rose slightly in morning trading on Tuesday.

North Carolina auto insurance rates are going up 5% on average in settlement

North Carolina auto insurance rates are going up 5% on average in settlement

RALEIGH, N.C. (AP) — North Carolina automobile insurance rates are poised to increase statewide by a 5% average this fall as part of an agreement reached between state regulators and the insurance industry.

The settlement announced on Monday by Insurance Commissioner Mike Causey is lower than the average 22.6% rate increase for private passenger vehicles that had been originally requested in February by the North Carolina Rate Bureau, which represents insurance companies. The bureau’s requested average rate in an updated March filing increased to 23%, the state Insurance Department said.

Without a settlement, the industry was headed to a scheduled Sept. 22 rate hearing in which a hearing officer would have considered the bureau’s premium rate level request. That hearing is now canceled.

The rate changes will take effect on new and renewed policies starting Oct. 1.

“With factors such as distracted driving, excessive speeding and increased automobile repair costs putting upward pressure on insurance rates, I am happy that we were able to hold the average increase to 5%,” Causey said in a news release. The automobile premium rates will remain among the lowest in the nation, the Republican elected commissioner said.

The agreement also includes an average statewide 16.3% decrease on motorcycle liability insurance rates.

The bureau’s previous rate filing in 2023 ultimately resulted in a settlement that led to an overall average 4.5% increase per year for two years.

Judge dismisses Justin Baldoni’s $400M lawsuit against ‘It Ends With Us’ costar Blake Lively

Judge dismisses Justin Baldoni’s $400M lawsuit against ‘It Ends With Us’ costar Blake Lively

By MICHAEL HILL Associated Press

A judge on Monday dismissed the lawsuit that actor and director Justin Baldoni filed against his “It Ends With Us” costar Blake Lively after she sued him last year for sexual harassment and retaliation.

U.S. District Court Judge Lewis Liman’s decision is the latest development in the bitter legal battle surrounding the dark romantic film.

Baldoni and production company Wayfarer Studios countersued in January for $400 million, accusing Lively and her husband, “Deadpool” actor Ryan Reynolds, of defamation and extortion.

The New York judge ruled that Baldoni can’t sue Lively for defamation over claims she made in her legal claim, because allegations made in a lawsuit are exempt from libel claims. Liman also ruled that Baldoni’s claims that Lively stole creative control of the film didn’t count as extortion under California law.

The judge, however, said Baldoni could revise the lawsuit if he wanted to pursue different claims related to whether Lively breached or interfered with a contract. His legal team indicated it planned to do so.

“Ms. Lively and her team’s predictable declaration of victory is false,” one of Baldoni’s lawyers, Bryan Freedman, said in a statement. He said that Lively’s claims that she was sexually harassed on the film set, and then subjected to a secret smear campaign intended to taint her reputation, were “no truer today than they were yesterday.”

“It Ends With Us,” an adaptation of Colleen Hoover’s bestselling 2016 novel that begins as a romance but takes a dark turn into domestic violence, was released in August, exceeding box office expectations with a $50 million debut. But the movie’s release was shrouded by speculation over discord between Lively and Baldoni.

The judge also dismissed Baldoni’s defamation lawsuit against The New York Times, which had reported on Lively’s sexual harassment allegations.

“Today’s opinion is a total victory and a complete vindication for Blake Lively, along with those that Justin Baldoni and the Wayfarer Parties dragged into their retaliatory lawsuit, including Ryan Reynolds, (publicist) Leslie Sloane and The New York Times,” Lively’s attorneys, Esra Hudson and Mike Gottlieb, said in a prepared statement.

The lawyers said they “look forward to the next round” of seeking attorneys’ fees, treble damages and punitive damages.

A spokesperson for The New York Times said they were “grateful to the court for seeing the lawsuit for what it was: a meritless attempt to stifle honest reporting.”

“Our journalists went out and covered carefully and fairly a story of public importance, and the court recognized that the law is designed to protect just that sort of journalism,” Charlie Stadtlander said in an emailed statement.

Lively appeared in the 2005 film “The Sisterhood of the Traveling Pants” and the TV series “Gossip Girl” from 2007 to 2012 before starring in films including “The Town” and “The Shallows.”

Baldoni starred in the TV comedy “Jane the Virgin,” directed the 2019 film “Five Feet Apart” and wrote “Man Enough,” a book challenging traditional notions of masculinity.

Dick Vitale has an extension with ESPN — and a college basketball event in his honor

Dick Vitale has an extension with ESPN — and a college basketball event in his honor

By AARON BEARD AP Basketball Writer

Dick Vitale is inextricably intertwined with college basketball, with his iconic voice, exuberant style and enthusiastic catchphrases melding into a soundtrack for nearly five decades of the sport’s history.

And the broadcasting great’s influence is sticking around next season, too, both in person on game days and through an addition to the college basketball calendar named in his honor.

ESPN announced Monday that Vitale has signed a contract through the 2027-28 season, while ESPN Events is launching the Dick Vitale Invitational — the first matchup being a season-opening tilt between Duke and Texas on Nov. 4 in Charlotte, North Carolina.

Fittingly, the announcement comes on the 86th birthday of the affectionately known “Dickie V,” and months after Vitale returned to the airwaves after being gone for two years amid a fourth battle with cancer. The Basketball Hall of Famer, also a former college and NBA coach, has been with ESPN since its 1979 launch and called the network’s first college basketball broadcast.

“So many times, awards and honors come to people after they’re long gone,” Vitale said in an interview with The Associated Press. “And to get it while you’re living is just a great, great feeling.”

Vitale’s career is built around his zeal for college basketball, one familiar for fans who have grown up watching games called by Vitale. That style is so authentically distinctive that it can come only from Vitale himself, down to his catchphrases like calling freshmen “Diaper Dandies” and imploring coaches to “better get a TO, baby!” at key moments.

“I think for a lot of people, he represents the voice of the sport,” said Clint Overby, vice president of ESPN Events. “For a lot people he embodies all that’s great about the sport. So we’re excited to do this with him and excited he agreed to participate.”

Paying tribute

Overby said discussions about a Vitale-named event had been tossed around going back years, with conversations reaching Vitale in recent months in what Vitale called “a shock.”

ESPN Events is partnering with the Charlotte Sports Foundation after they worked together previously on the Jumpman Invitational and Ally Tipoff events for men’s and women’s college basketball in Charlotte. After the Duke-Texas game, Overby said, ESPN Events will evaluate how the Invitational will evolve with scheduling, format and even the potential to involve multiple nights in multiple cities.

Overby believes it’s a worthy tribute to the man who welcomed him to college basketball as Overby watched games on TV while growing up in Wisconsin.

“I’d turn on a late-night basketball game and he would be there,” Overby said. “So for a lot of years, he was kind of my window into that world. And I’m not alone. I think he provided that voice of the sport to so many people as the sport and TV were emerging together.”

Getting back

Vitale sounds eager to get back to courtside this fall, calling it “the best medicine in the world” to join partners like Dave O’Brien and Dan Shulman.

“I feel really good,” Vitale said. “I really do.”

Vitale had surgery last summer to remove cancerous lymph nodes from his neck. He was previously treated for melanoma and lymphoma, and had radiation treatments last year for vocal cord cancer. He described feeling “trapped” afterward not being able to speak, leaving him to scribble eraser board messages to communicate.

“I tell people: ‘If you know somebody battling cancer, really take a moment, send them a text message, something encouraging, send them a prayer,” Vitale said. “Because I know what it did for me. It lifted me big time in some of my darkest moments.”

Now he calls himself “fortunate,” “blessed” and “lucky” while offering thanks to family and ESPN for supporting his recovery.

He announced he was cancer-free in December, returned Feb. 8 for Clemson’s home win against Duke, then became emotional during the Atlantic Coast Conference Tournament in March when telling colleagues live that it felt “like a miracle to sit here with you guys.”

Looking ahead

It’s among several ways cancer has touched Vitale, a longtime fundraiser for cancer research. He notably helped friend Jim Valvano to the stage at the 1993 ESPYs, where Valvano delivered his famous “Don’t give up” speech, then helped him off with now-retired Duke Hall of Fame men’s coach Mike Krzyzewski. Valvano died of adenocarcinoma less than two months later.

The V Foundation announced last month that the 20th annual gala in Vitale’s name had raised $12.5 million for pediatric cancer research in the past year and more than $105 million in its history — continuing work Vitale said “might be the greatest achievement of my life.”

As for broadcasting, Vitale said he’d love to reach the 50-year milestone with ESPN in 2029.

“I do it because I love it and I feel mentally sharp enough to do it,” Vitale said. “I would never do it if I was at a point in my life I couldn’t remember names, didn’t know players, teams, coaches, strategy. But I feel so strong about that.

“So many people would say to me, ‘Dick, you’ve made enough, you’ve had enough success, why don’t you just relax?’ They don’t realize: It is relaxing! Every game for me is relaxing!”

Black Cow

Black Cow

Black Cow

Photo by Getty Images

Black Cow Recipe from Food.

Prep time: 5 minutes

Cooking time: n/a

Serving size: 1 servings

Ingredients

  • 2 scoops vanilla ice cream
  • 1 tablespoon chocolate syrup
  • 1 1⁄2ounces whipped cream
  • 10 ounces root beer

Directions

  1. Pour root beer over ice cream and chocolate syrup in a large glass. Garnish with whipped cream and maraschino cherry.
Sly Stone, leader of funk revolutionaries Sly and the Family Stone, dies at 82

Sly Stone, leader of funk revolutionaries Sly and the Family Stone, dies at 82

By HILLEL ITALIE AP National Writer

NEW YORK (AP) — Sly Stone, the revolutionary musician and dynamic showman whose Sly and the Family Stone transformed popular music in the 1960s and ’70s and beyond with such hits as “Everyday People,” “Stand!” and “Family Affair,” died Monday at age 82

Stone, born Sylvester Stewart, had been in poor health in recent years. His publicist Carleen Donovan said Stone died in Los Angeles surrounded by family after contending with chronic obstructive pulmonary disease and other ailments.

Founded in 1966-67, Sly and the Family Stone was the first major group to include Black and white men and women, and well embodied a time when anything seemed possible — riots and assassinations, communes and love-ins. The singers screeched, chanted, crooned and hollered. The music was a blowout of frantic horns, rapid-fire guitar and locomotive rhythms, a melting pot of jazz, psychedelic rock, doo-wop, soul and the early grooves of funk.

Sly’s time on top was brief, roughly from 1968-1971, but profound. No band better captured the gravity-defying euphoria of the Woodstock era or more bravely addressed the crash which followed. From early songs as rousing as their titles — “I Want To Take You Higher,” “Stand!” — to the sober aftermath of “Family Affair” and “Runnin’ Away,” Sly and the Family Stone spoke for a generation whether or not it liked what they had to say.

Stone’s group began as a Bay Area sextet featuring Sly on keyboards, Larry Graham on bass; Sly’s brother, Freddie, on guitar; sister Rose on vocals; Cynthia Robinson and Jerry Martini horns and Greg Errico on drums. They debuted with the album “A Whole New Thing” and earned the title with their breakthrough single, “Dance to the Music.” It hit the top 10 in April 1968, the week the Rev. Martin Luther King was murdered, and helped launch an era when the polish of Motown and the understatement of Stax suddenly seemed of another time.

Led by Sly Stone, with his leather jumpsuits and goggle shades, mile-wide grin and mile-high Afro, the band dazzled in 1969 at the Woodstock festival and set a new pace on the radio. “Everyday People,” “I Wanna Take You Higher” and other songs were anthems of community, non-conformity and a brash and hopeful spirit, built around such catchphrases as “different strokes for different folks.” The group released five top 10 singles, three of them hitting No. 1, and three million-selling albums: “Stand!”, “There’s a Riot Goin’ On” and “Greatest Hits.”

For a time, countless performers wanted to look and sound like Sly and the Family Stone. The Jackson Five’s breakthrough hit, “I Want You Back,” and the Temptations’ “I Can’t Get Next to You” were among the many songs from the late 1960s that mimicked Sly’s vocal and instrumental arrangements. Miles Davis’ landmark blend of jazz, rock and funk, “Bitches Brew,” was inspired in part by Sly, while fellow jazz artist Herbie Hancock even named a song after him.

“He had a way of talking, moving from playful to earnest at will. He had a look, belts, and hats and jewelry,” Questlove wrote in the foreword to Stone’s memoir, “Thank You (Falettinme Be Mice Elf Agin),” named for one of his biggest hits and published through Questlove’s imprint in 2023. “He was a special case, cooler than everything around him by a factor of infinity.”

In 2025, Questlove released the documentary “Sly Lives! (aka The Burden of Black Genius).”

Sly’s influence has endured for decades. The top funk artist of the 1970s, Parliament-Funkadelic creator George Clinton, was a Stone disciple. Prince, Rick James and the Black Eyed Peas were among the many performers from the 1980s and after shaped in part by Sly, and countless hip-hop artists have sampled his riffs, from the Beastie Boys to Dr. Dre and Snoop Dogg. A 2005 tribute record included Maroon 5, John Legend and the Roots.

“Sly did so many things so well that he turned my head all the way around,” Clinton once wrote. “He could create polished R&B that sounded like it came from an act that had gigged at clubs for years, and then in the next breath he could be as psychedelic as the heaviest rock band.”

A dream dies, a career burns away

By the early ’70s, Stone himself was beginning a descent from which he never recovered, driven by the pressures of fame and the added burden of Black fame. His record company was anxious for more hits, while the Black Panthers were pressing him to drop the white members from his group. After moving from the Bay Area to Los Angeles in 1970, he became increasingly hooked on cocaine and erratic in his behavior. A promised album, “The Incredible and Unpredictable Sly and the Family Stone” (“The most optimistic of all,” Rolling Stone reported) never appeared. He became notorious for being late to concerts or not showing up at all, often leaving “other band members waiting backstage for hours wondering whether he was going to show up or not,” according to Stone biographer Joel Selvin.

Around the country, separatism and paranoia were setting in. As a turn of the calendar, and as a state of mind, the ’60s were over. “The possibility of possibility was leaking out,” Stone later explained in his memoir.

On “Thank You (Falettinme Be Mice Elf Agin),” Stone had warned: “Dying young is hard to take/selling out is harder.” Late in 1971, he released “There’s a Riot Going On,” one of the grimmest, most uncompromising records ever to top the album charts. The sound was dense and murky (Sly was among the first musicians to use drum machines), the mood reflective (“Family Affair”), fearful (“Runnin’ Away”) and despairing: “Time, they say, is the answer — but I don’t believe it,” Sly sings on “Time.” The fast, funky pace of the original “Thank You (Falettinme Be Mice Elf Agin)” was slowed, stretched and retitled “Thank You For Talkin’ to Me, Africa.”

The running time of the title track was 0:00.

“It is Muzak with its finger on the trigger,” critic Greil Marcus called the album.

“Riot” highlighted an extraordinary run of blunt, hard-hitting records by Black artists, from the Stevie Wonder single “Superstition” to Marvin Gaye’s “What’s Going On” album, to which “Riot” was an unofficial response. But Stone seemed to back away from the nightmare he had related. He was reluctant to perform material from “Riot” in concert and softened the mood on the acclaimed 1973 album “Fresh,” which did feature a cover of “Que Sera Sera,” the wistful Doris Day song reworked into a rueful testament to fate’s upper hand.

By the end of the decade, Sly and the Family Stone had broken up and Sly was releasing solo records with such unmet promises as “Heard You Missed Me, Well I’m Back” and “Back On the Right Track.” Most of the news he made over the following decades was of drug busts, financial troubles and mishaps on stage. Sly and the Family Stone was inducted into the Rock & Roll of Fame in 1993 and honored in 2006 at the Grammy Awards, but Sly released just one album after the early ’80s, “I’m Back! Family & Friends,” much of it updated recordings of his old hits.

He would allege he had hundreds of unreleased songs and did collaborate on occasion with Clinton, who would recall how Stone “could just be sitting there doing nothing and then open his eyes and shock you with a lyric so brilliant that it was obvious no one had ever thought of it before.”

Sly Stone had three children, including a daughter with Cynthia Robinson, and was married once — briefly and very publicly. In 1974, he and actor Kathy Silva wed on stage at Madison Square Garden, an event that inspired an 11,000-word story in The New Yorker. Sly and Silva soon divorced.

A born musician, a born uniter

He was born Sylvester Stewart in Denton, Texas, and raised in Vallejo, California, the second of five children in a close, religious family. Sylvester became “Sly” by accident, when a teacher mistakenly spelled his name “Slyvester.”

He loved performing so much that his mother alleged he would cry if the congregation in church didn’t respond when he sang before it. He was so gifted and ambitious that by age 4 he had sung on stage at a Sam Cooke show and by age 11 had mastered several instruments and recorded a gospel song with his siblings. He was so committed to the races working together that in his teens and early 20s he was playing in local bands that included Black and white members and was becoming known around the Bay Area as a deejay equally willing to play the Beatles and rhythm and blues acts.

Through his radio connections, he produced some of the top San Francisco bands, including the Great Society, Grace Slick’s group before she joined the Jefferson Airplane. Along with an early mentor and champion, San Francisco deejay Tom “Big Daddy” Donahue, he worked on rhythm and blues hits (Bobby Freeman’s “C’mon and Swim”) and the Beau Brummels’ Beatle-esque “Laugh, Laugh.” Meanwhile, he was putting together his own group, recruiting family members and local musicians and settling on the name Sly and the Family Stone.

“A Whole New Thing” came out in 1967, soon followed by the single “Dance to the Music,” in which each member was granted a moment of introduction as the song rightly proclaimed a “brand new beat.” In December 1968, the group appeared on “The Ed Sullivan Show” and performed a medley that included “Dance to the Music” and “Everyday People.” Before the set began, Sly turned to the audience and recited a brief passage from his song “Are You Ready”:

“Don’t hate the Black,

don’t hate the white,

if you get bitten,

just hate the bite.”

US stocks drift higher as trade talks start with China in hopes of avoiding a recession

US stocks drift higher as trade talks start with China in hopes of avoiding a recession

By STAN CHOE AP Business Writer

NEW YORK (AP) — U.S. stocks drifted through a quiet Monday as the world’s two largest economies began talks on trade that could help avoid a recession.

The S&P 500 edged up by 0.1% and is within 2.3% of its record, which was set in February. The Dow Jones Industrial Average slipped by 1 point, which is well below 0.1%, and the Nasdaq composite added 0.3%.

Officials from the United States and China met in London to talk about a range of different disputes that are separating them. The hope is that they can eventually reach a deal that will lower each’s punishing level of tariffs against the other, which are currently on pause, so that the flow of everything from tiny tech gadgets to enormous machinery can continue.

Hopes that President Donald Trump will lower his tariffs after reaching such trade deals with countries around the world have been among the main reasons the S&P 500 has rallied so furiously since dropping roughly 20% from its record two months ago. It’s back above where it was when Trump shocked financial markets in April with his wide-ranging tariff announcement on what he called “Liberation Day.”

This may be the shortest sell-off following a shock of heightened volatility on record, according to Parag Thatte, Binky Chadha and other strategists at Deutsche Bank. Typically, stocks take around two months to bottom following a spike in volatility and then another four to five months to recover their losses. This time around, stocks have basically made a round trip in less than two months.

But nothing is assured, of course, and that helped keep trading relatively quiet on Wall Street Monday.

Some of the market’s biggest moves came from the announcement of big buyout deals. Qualcomm rallied 4.1% after saying it agreed to buy Alphawave Semi in a deal valued at $2.4 billion. IonQ, meanwhile, rose 2.7% after the quantum computing and networking company said it agreed to purchase Oxford Ionics for nearly $1.08 billion.

On the losing side of Wall Street was Warner Bros. Discovery, which flipped from a big early gain to a loss of 3% after saying it would split into two companies. One will get Warner Bros. Television, HBO Max and other studio brands, while the other will hold onto CNN, TNT Sports and other entertainment, sports and news television brands around the world, along with some digital products.

Tesla recovered some of its sharp, recent drop. The electric vehicle company tumbled last week as Elon Musk’s relationship with Trump broke apart, and it rose 4.6% Monday after flipping between gains and losses earlier in the day.

The frayed relationship could end up damaging Musk’s other companies that get contracts from the U.S. government, such as SpaceX. Rocket Lab, a space company that could pick up business at SpaceX’s expense, rose 2.5%.

All told, the S&P 500 rose 5.52 points to 6,005.88. The Dow Jones Industrial Average slipped 1.11 to 42,761.76, and the Nasdaq composite rose 61.28 to 19,591.24.

In stock markets abroad, indexes were modestly lower in Europe after rising across much of Asia.

Chinese markets climbed even though the government reported that exports slowed in May, growing 4.8% from a year earlier after jumping more than 8% in April. China also reported that consumer prices fell 0.1% in May from a year earlier, marking the fourth consecutive month of deflation.

Stocks rallied 1.6% in Hong Kong and rose 0.4% in Shanghai.

In the bond market, the yield on the 10-year Treasury eased to 4.48% from 4.51% late Friday. It fell after a survey by the Federal Reserve Bank of New York found that consumers’ expectations for coming inflation eased a bit in May.

That provides some relief for the Fed, which has been keeping its main interest rate steady as it waits to see how much Trump’s tariffs will raise inflation and how much they will hurt the economy. A persistent increase in expectations for inflation among U.S. households could drive behavior that creates a vicious cycle that only worsens inflation.

Economists expect a report coming on Wednesday to show inflation across the country accelerated last month to 2.5% from 2.3%.

___

AP Writer Jiang Junzhe contributed.

College sports commissioners laud $2.8B antitrust settlement, call for Congress to act

College sports commissioners laud $2.8B antitrust settlement, call for Congress to act

By ERIC OLSON AP College Football Writer

Conference commissioners lauded a judge’s approval of a $2.8 billion antitrust lawsuit settlement as a means for bringing stability and fairness to an out-of-control college athletics industry but acknowledged there would be growing pains in implementing its terms.

In a 30-minute virtual news conference Monday, commissioners of the ACC, Big Ten, Big 12, Pac-12 and SEC renewed their call for congressional action to supplement and even codify the settlement and emphasized that cooperation at every level of college sports would be necessary to make it work.

They said it was too early to address how violators of rules surrounding revenue sharing and name, image and likeness agreements would be punished and noted newly hired College Sports Commission CEO Bryan Seeley would play a major role in determining penalties.

The new era of college athletics has arrived after U.S. District Judge Claudia Wilken gave final approval Friday night to what’s known as House vs. NCAA. Beginning July 1, each school can share up to about $20.5 million with their athletes and third-party NIL deals worth $600 or more will be analyzed to make sure they pay appropriate “market value” for the services being provided by athletes.

Some of the topics addressed Monday:

Binding conferences to terms

The conferences drafted a document that would bind institutions to enforcement policies even if their state laws are contradictory. It would require schools to waive their right to pursue legal challenges against the CSC. It also would exempt the commission from lawsuits from member schools over enforcement decisions, instead offering arbitration as the main settlement option.

Consequences for not signing the agreement would include risking the loss of league membership and participation against other teams from the Power Four conferences.

Big 12 Commissioner Brett Yormark said the document remains a work in progress but that he’s gotten no pushback from his schools.

“I look to get that executed here in short order,” he said, “and know it will be very necessary for all the conferences to execute as well.”

Directives on revenue sharing

There has been no directive given to individual schools on how to determine the allocation of revenue-sharing payments, commissioners said. It’s widely acknowledged that athletes in football and basketball are expected to receive the majority of the money.

“I know for all five of us no one is forgetting about their Olympic sports and continuing to make sure we’ve invested a high level for all of our sports,” ACC Commissioner Jim Phillips said.

College Sports Commission CEO

The commissioners said Seeley, as Major League Baseball executive vice president of legal and operations, was uniquely qualified to lead the CSC, which is charged with making sure schools adhere to the rules.

“Culture doesn’t change overnight,” Seeley told The Athletic over the weekend. “I don’t expect that to happen overnight, but I do think that the schools that have signed on to the settlement want rules and want rules to be enforced. Otherwise they wouldn’t have signed on to the settlement. I think student-athletes want a different system. So I think there is a desire for rules enforcement. There’s a desire for transparency.”

Sankey said Seeley is well-versed in areas of implementation, development and adjustment of rules and in NIL disputes requiring arbitration.

Yormark said: “You want people not to run away from a situation but to run to a situation. He ran here, and he’s very passionate to make a difference and to course correct what’s been going on in the industry.”

Skepticism about enforcement

Deloitte’s “NIL Go” program and LBI Software will track NIL deals and revenue-sharing contracts, and the commissioners shot down skepticism about the ability of those tools to enforce terms of the settlement. SEC Commissioner Greg Sankey said football and basketball coaches he spoke with in February were unanimous in wanting regulation.

“They have the responsibility to make what they asked for work,” he said.

Congressional action

NCAA President Charlie Baker has been pushing Congress for a limited antitrust exemption that would protect college sports from another series of lawsuits, and the commissioners want a uniform federal NIL law that would supersede wide-ranging state laws.

“We’re not going to have Final Fours and College Football Playoffs and College World Series with 50 different standards,” Sankey said, “so that’s a starting point.”

Big Ten Commissioner Tony Petitti said the willingness of administrators to modernize the college athletics model should prompt federal lawmakers to move on codifying the settlement.

Sankey’s meeting with Trump

Sankey confirmed a Yahoo Sports report that he and Notre Dame athletic director Pete Bevacqua played golf with President Donald Trump on Sunday. Sankey said he appreciates Trump’s interest in college sports and that it was helpful to share perspectives on the path forward. Trump reportedly considered a presidential commission on college sports earlier this year.

Sankey declined to disclose details of their talks.

“I think those are best left for the moment on the golf course,” he said.

Apple unveils software redesign while reeling from AI missteps, tech upheaval and Trump’s trade war

Apple unveils software redesign while reeling from AI missteps, tech upheaval and Trump’s trade war

By MICHAEL LIEDTKE AP Technology Writer

CUPERTINO, Calif. (AP) — After stumbling out of the starting gate in Big Tech’s pivotal race to capitalize on artificial intelligence, Apple tried to regain its footing Monday during an annual developers conference that focused mostly on incremental advances and cosmetic changes in its technology.

The presummer rite, which attracted thousands of developers from nearly 60 countries to Apple’s Silicon Valley headquarters, was more subdued than the feverish anticipation that surrounded the event during the previous two years.

Apple highlighted plans for more AI tools designed to simplify people’s lives and make its products even more intuitive while also providing an early glimpse at the biggest redesign of its iPhone software in a decade. In doing so, Apple executives refrained from issuing bold promises of breakthroughs that punctuated recent conferences.

In 2023, Apple unveiled a mixed-reality headset that has been little more than a niche product, and last year WWDC trumpeted its first major foray into the AI craze with an array of new features highlighted by the promise of a smarter and more versatile version of its virtual assistant, Siri — a goal that has hasn’t been achieved yet.

Apple had intended the planned Siri upgrade to herald its long-awaited attempt to become a major player in the AI craze after getting a late start in a phenomenon that so far has been largely led by OpenAI, Google, Microsoft and an array of cutting-edge startups.

“This work needed more time to reach our high-quality bar,” Craig Federighi, Apple’s top software executive, said Monday at the outset of the conference.

The showcase unfolded amid nagging questions about whether Apple has lost some of the mystique and innovative drive that turned it into a tech trendsetter during its nearly 50-year history.

Instead of making a big splash as it did with the Vision Pro headset and its AI suite, Apple took a mostly low-key approach that emphasized its effort to spruce up the look of its software while also unveiling a new hub for its video games and new features like a “Workout Buddy” to help track physical fitness on its smartwatch.

Apple executives promised will make its software more compatible with the increasingly sophisticated computer chips that have been powering its products while also making it easier to toggle between the iPhone, iPad, and Mac.

“Our product experience has become even more seamless and enjoyable,” Apple CEO Tim Cook told the crowd as the 90-minute showcase wrapped up.

Even though it might look like Apple is becoming a technological laggard, Forrester Research analyst Thomas Husson contends the company still has ample time to catch up in an AI race that’s “more of a marathon, than a sprint. It will force Apple to evolve its operating systems.”

Besides redesigning its software. Apple will switch to a method that automakers have used to telegraph their latest car models by linking them to the year after they first arrive at dealerships. That means the next version of the iPhone operating system due out this autumn will be known as iOS 26 instead of iOS 19 — as it would be under the previous naming approach that has been used since the device’s 2007 debut.

The iOS 26 upgrade is expected to be released in September around the same time Apple traditionally rolls out the next iPhone models.

In an early sign that AI was going to be a focal point of this year’s conference, Apple opened the proceedings with a short video clip featuring Federighi speeding around a track in a Formula 1 race car. Although it was meant to promote the June 27 release of the Apple film, “F1” starring Brad Pitt, the segment could also be viewed as an unintentional analogy to the company’s attempt to catch up to the rest of the pack in AI technology.

While some of the new AI tricks compatible with the latest iPhones began rolling out late last year as part of free software updates, Apple still hasn’t been able to soup up Siri in the ways that it touted at last year’s conference. The delays became so glaring that a chastened Apple retreated from promoting Siri in its AI marketing campaigns earlier this year.

While Apple has been struggling to make AI that meets its standards, the gap separating it from other tech powerhouses is widening. Google keeps packing more AI into its Pixel smartphone lineup while introducing more of the technology into its search engine to dramatically change the way it works. Samsung, Apple’s biggest smartphone rival, is also leaning heavily into AI. Meanwhile, ChatGPT recently struck a deal that will bring former Apple design guru Jony Ive into the fold to work on a new device expected to compete against the iPhone.

Besides grappling with innovation challenges, Apple also faces regulatory threats that could siphon away billions of dollars in revenue that help finance its research and development. A federal judge is currently weighing whether proposed countermeasures to Google’s illegal monopoly in search should include a ban on long-running deals worth $20 billion annually to Apple while another federal judge recently banned the company from collecting commission on in-app transactions processed outside its once-exclusive payment system.

On top of all that, Apple has been caught in the cross-hairs of President Donald Trump’s trade war with China, a key manufacturing hub for the Cupertino, California, company. Cook successfully persuaded Trump to exempt the iPhone from tariffs during the president’s first administration, but he has had less success during Trump’s second term, which seems more determined to prod Apple to make its products in the U.S.

“The trade war and uncertainty linked to the tariff policy is of much more concern today for Apple’s business than the perception that Apple is lagging behind on AI innovation,” Husson said.

The multi-dimensional gauntlet facing Apple is spooking investors, causing the company’s stock price to plunge by nearly 20% so far this year — a decline that has erased $750 billion in shareholder wealth. After beginning the year as the most valuable company in the world, Apple now ranks third behind longtime rival Microsoft, another AI leader, and AI chipmaker Nvidia.

Apple’s shares slipped by more than 1% in Monday’s late afternoon trading — an early indication the company’s latest announcements didn’t inspire investors.

Warner Bros. Discovery to split into two companies, dividing cable and streaming services

Warner Bros. Discovery to split into two companies, dividing cable and streaming services

By MICHELLE CHAPMAN AP Business Writer

NEW YORK (AP) — Warner Bros. Discovery will calve off cable operations from its streaming service, creating two independent companies as the number of people “cutting the cord” brings with it a sustained upheaval in the entertainment industry.

HBO, and HBO Max, as well as Warner Bros. Television, Warner Bros. Motion Picture Group, DC Studios, will become part of the streaming and studios company, Warner Bros. said Monday.

The cable company will include CNN, TNT Sports in the U.S., and Discovery, top free-to-air channels across Europe, and digital products such as the Discovery+ streaming service and Bleacher Report.

Shares jumped 11% at the opening bell.

Warner Bros. Discovery CEO David Zaslav will become serve as CEO of the company that for right now is called Streaming & Studios. Gunnar Wiedenfels, chief financial officer of Warner Bros. Discovery, will be CEO of the cable-focused entity, for now known as Global Networks.

“By operating as two distinct and optimized companies in the future, we are empowering these iconic brands with the sharper focus and strategic flexibility they need to compete most effectively in today’s evolving media landscape,” Zaslav said in a statement.

Just days ago Warner Bros. Discovery shareholders in a vote that was symbolic as it’s nonbinding, rejected the 2024 pay packages of some executives, including Zaslav, who will make more than $51 million.

Warner Bros. Discovery said in December that it was implementing a restructuring plan in which Warner Bros. Discovery would become the parent company for two operating divisions, Global Linear Networks and Streaming & Studios. That was seen as a preview of the separation announced Monday.

Warner Bros. Discovery was created just three years ago when AT&T spun off WarnerMedia and it was merged with Discovery Communications in a $43 billion deal.

The cable industry has been under assault for years from streaming services like Disney, Netflix, Amazon and Warner Bros. own HBO Max. The industry is also being pressured by internet plans offered by mobile phone companies. Comcast, which is of nearly equal size to Charter, spun off many of its cable television networks in November, seeing so many customers swap out their cable TV subscriptions for streaming platforms.

Last month Charter Communications offered to acquire Cox Communications, a $34.5 billion merger that would combine two of the top three cable companies in the U.S.

So-called “cord cutting” has cost the industry millions of customers and left them searching for ways to successfully compete.

The Warner Bros. Discovery split is expected to be completed by the middle of next year. It still needs final approval from the Warner Bros. Discovery board.

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