Oracle founder and chairman Larry Ellison and his family will provide the lion's share of financing for his son's takeover of Paramount Global, Axios has learned.
By the numbers: The Ellisons will invest around $6 billion, while private equity firm RedBird Capital Partners will contribute the remaining $2 billion.
Boeing will plead guilty to a criminal fraud charge in connection with two fatal 737 Max crashes in Indonesia and Ethiopia, per a Department of Justice court filing late Sunday.
Why it matters: If approved by the judge overseeing the case, the deal would brand one of the largest aerospace companies in the world a felon — a standing that could hurt its defense business.
Starting this fall, most students at Johns Hopkins' medical school will attend tuition-free thanks to a $1 billion donation from billionaire Mike Bloomberg.
Driving the news: The generous gift is intended to address "twin challenges of declining levels of health and education," Bloomberg said in a letter Monday.
Ice cream trucks still drive around the suburbs, playing electronic tunes and selling SpongeBobs on a stick, but they're trying to diversify, owners say.
The mattress industry is slumping, but federal regulators say that's not enough to justify the biggest manufacturer buying the biggest retailer.
Why it matters: The FTC last week voted unanimously to attempt to prevent Tempur Sealy from acquiring Mattress Firm for $4 billion — a "vertical" deal that has been in limbo since it was announced in May 2023.
Artificial intelligence is keeping the venture capital ecosystem afloat. It accounted for more than 40% of new private U.S. "unicorns" in the first half this year, and over 60% of the increase in total venture-backed valuation, per PitchBook.
The big picture: There were 13 new U.S. AI unicorns — private companies that reached valuations of over $1 billion — between Jan. 1 and June 25 of this year.
Southwest Airlines aircraft have been involved in several recent alarming incidents, forcing safety to the forefront, even as a corporate skirmish is primed to escalate.
Why it matters: There's no indication yet that mechanical trouble caused or contributed to any of the incidents, a stark reminder that human factors are key to flight safety — even with so much focus on production and maintenance issues after Boeing's door plug blowout earlier this year.
Paramount Global has agreed to merge with Skydance Media in a complex transaction that will join Shari Redstone's media empire with an upstart studio run by the son of Oracle founder Larry Ellison.
Why it matters: The deal breathes new life into an iconic Hollywood brand that's lost more than 70% of its market value since 2019, when Redstone recombined Viacom and CBS.
WURD radio station and host Andrea Lawful-Sanders have "mutually agreed" to immediately "part ways" after President Biden's aides helped draft questions she asked him in an interview, the company announced Sunday.
Editor's note: For the latest on this story, read "Paramount Global agrees to merge with Skydance Media" here.
Paramount Global's special committee overseeing strategic options has approved the latest merger offer from Skydance Media, sources tell Axios.
Why it matters: This should end months of complex and chaotic talks to combine Shari Redstone's media empire with an upstart studio run by David Ellison, the son of Oracle founder Larry Ellison.
