Unilever said Tuesday it intends to spin off its ice cream unit, including Ben & Jerry's, along with top-selling global brands like Wall's and Magnum.
Why it matters: Known as much for social activism as its wonky flavors, the Vermont-based company will headline the newly separated $8.5 billion ice cream business.
ESPN has signed a six-year extension worth $7.8 billion to remain the sole TV partner for the NCAA's top football playoff tournament, ESPN chief Jimmy Pitaro told Sara Fischer during Axios' What's Next Summit on Tuesday.
Why it matters: Maintaining the TV rights to the highly lucrative tournament is essential for ESPN as it transitions to a streaming-first future.
The National Basketball Association rejected a deal involving private equity firm Carlyle that would have helped finance a purchase of the Minnesota Timberwolves by Alex Rodriguez and Marc Lore, Axios has learned.
Why it matters: A-Rod and Lore must fund their purchase by month's end.
Nearly 9 in 10 Latinos (87%) say they get news from digital devices at least sometimes, and 65% say they prefer this form of news over TV, radio, or print, a new survey finds.
Why it matters: The dramatic shift to digital news consumption by Latinos comes amid rising concerns over online misinformation and the use of generative AI and deepfakes, especially during this year's election.
Meta plans to officially shutter CrowdTangle, the analytics tool widely used by journalists and researchers to see what's going viral on Facebook and Instagram, the company's president of global affairs Nick Clegg told Axios in an interview.
Why it matters: The company plans to instead offer select researchers access to a set of new data tools, but news publishers, journalists or anyone with commercial interests will not be granted access to that data.
The Baltimore Banner, a nonprofit digital news publication that launched in 2022, is planning to expand its editorial coverage beyond Maryland's biggest city into the surrounding regions and beyond, its new CEO Bob Cohn told Axios.
Why it matters: Cohn sees a geographical expansion and more editorial investments in niche subject areas, like business, culture and tech, as key drivers for adding more digital subscribers.
Communications guru Lulu Cheng Meservey has partnered with Toya Holness and Sergey Alexashenko to launch Rostra, a strategic communications firm geared toward tech founders and startups.
A TikTok ban or forced sale would set a historic precedent that could disrupt the U.S. media ecosystem for years to come.
Why it matters: A law banning TikTok or forcing its sale, like the one the House recently approved, would not only face court challenges but could also trigger broader economic tensions between the U.S. and its rivals.
Meme investmentsare back — and this time they're not being fueled by a Federal Reserve policy of holding interest rates at zero.
Why it matters: Getting rich quick for the lulz turns out to have been a lot of fun. Why let high interest rates, or the lack of federal stimulus checks, get in the way?
Joby Aviation will deliver two next-gen electric aircraft to MacDill Air Force Base in Florida in 2025 as it works to commercialize electric air taxis, the company said Tuesday.
Why it matters: Before air taxis are whisking passengers over congested cities, they'll likely be ferrying military personnel and supplies.
In public and in private, Elon Musk is increasingly treating the prospect of President Biden's re-election as an urgent — even existential — threat to America.
Why it matters: Musk hasn't endorsed former President Trump. But the billionaire X owner has made no secret of his disdain for Biden's policies, leveraging his massive online platform to denigrate Democrats and promote Trump's messaging on the 2024 election's top issues.
A dwindling number of self-driving car companies are striving to earn the public's trust, a challenge complicated by their competitors' mistakes.
Why it matters: High-profile incidents like the dragging of a pedestrian by a Cruise robotaxi last October have shaken public confidence in autonomous vehicle (AV) technology.
