Elon Musk is threatening to pursue AI initiatives on his own if Tesla's board doesn't give him more stock in the company — and hence more control over its future.
Why it matters: AI is central to Tesla's market valuation — and without it, investors would likely see the stock as less valuable.
The big picture: Not only does charging take longer in freezing temperatures, some electric vehicle owners are surprised to find how much their car's driving range is compromised by winter weather.
A federal judge on Tuesday blocked JetBlue from completing its $3.8 billion takeover of Spirit Airlines, agreeing with the U.S. Justice Department that the deal would be anticompetitive.
Why it matters: This is a devastating blow for JetBlue, the country's sixth largest airline, and its incoming CEO Joanna Geraghty.
Red Ventures, the digital media and marketing juggernaut based in Fort Mill, South Carolina, has approached strategic buyers about offloading tech news and reviews site CNET, five sources familiar with the effort told Axios.
Why it matters: Red Ventures acquired CNET, along with a few smaller websites, from ViacomCBS, now Paramount Global, in 2020 for $500 million. It's hoping to get at least half of that for CNET alone.
The Free Press, a new media company launched by former New York Times writer and editor Bari Weiss, plans to raise funds this year to jump-start growth, executives told Axios.
Why it matters: Few media startups catering to general audiences have been able to successfully attract investment in today's bearish media market.
Nielsen on Tuesday named Carole Robinson, a veteran media industry leader, as its next chief communications officer, reporting to its newly appointed CEO Karthik Rao.
Why it matters: Robinson's hiring comes amid a persistent narrative from TV network executives and ad buyers that Nielsen hasn't done enough to modernize.
State of play: Big banking and financial firms started the festivities last Friday, with more (including Goldman Sachs and Morgan Stanley) Tuesday morning, and hundreds of companies to follow in the coming weeks.
A program to jumpstart the conversion of old New York City office buildings into residential space is up and running.
What's happening: A total of 46 buildings are enrolled in NYC's Office Conversion Accelerator, which kicked off in August. Four have already begun the conversion process, and are expected to create more than 2,100 housing units, a spokesperson for Mayor Eric Adams' administration tells Axios exclusively.
The Baltimore Sun, Maryland's largest newspaper, has been sold by hedge fund Alden Global Capital to David Smith, the executive chairman of the local TV company Sinclair.
Why it matters: The deal puts the Sun back in the hands of a local owner after nearly four decades.
Just 6 out of 158 U.S. CEOs said they'll prioritize bringing workers back to the office full-time in 2024, according to a new survey released by the Conference Board.
Why it matters: Executives are increasingly resigned to a world where employees don't come in every day, as hybrid work arrangements — mixing work from home and in-office — become the norm for knowledge workers.
