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.
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.
