Audio companies are being hit with new rounds of job cuts and cost cutting measures, despite how music and podcast listenership continue to grow in the U.S.
Why it matters: Digital audio revenue has yet to make up for the rapid decline in traditional radio ad spend.
Reproduced from an FX Networks Research report; Chart: Axios Visuals
The number of new scripted series fell last year for the first time in more than a decade — barring 2020 — according to new data from FX Networks Research.
Why it matters:Pressure for profits is forcing entertainment giants to pull back on scripted content spend after years of over-investing in new streaming hits.
Employees, parents and students are trying to figure out the new norms for taking a sick day.
Why it matters: Schools and businesses largely erred on the side of caution at the height of the pandemic, but expectations are now shifting — in ways that can be difficult to predict.
A federal judge ordered Elon Musk to comply with a Securities and Exchange Commission (SEC) subpoena and testify as part of the agency's investigation into whether he violated federal securities laws when he purchased Twitter in 2022.
The big picture: The order, which is a blow to Musk, will likely only intensify his long and tumultuous relationship with the SEC.
Nationally, the pandemic-era worker shortages that rocked the job market are over. But zoom in, and you'll find one state where it's still worse than ever: Maryland.
Why it matters: We often talk about the U.S. as a single labor market. That can hide important economic trends — in this case, the nation's lowest unemployment rate that's a boon for local workers but reveals troubles restraining the state economy.
Oilfield consolidation was last year's top M&A trend, and it may be a repeat performance.
Driving the news: Diamondback Energy on Monday announced an agreement to buy privately held Endeavor Energy Partners for $26 billion in cash and stock.
Sony has agreed to pay around $600 million to acquire half of Michael Jackson's catalog, according to news reports, as music rights continues to drive deal making across the media sector.
Why it matters: A purchase that size would likely make itthe richest music catalog deal ever and is proof that certain artists can still command sky-high valuations.
Interest rate cuts, now expected to happen this summer, won't solve the housing affordability crisis — in fact, prices may rise when rates come down.
Why it matters: High mortgage rates have pushed up the cost of financing a home, and constrained the supply — some lawmakers are even urging Federal Reserve chair Jerome Powell to lower rates to improve housing affordability.
