Saudi Arabia’s Crown Prince Mohammed bin Salman is working to firm up a $400 million stake in the world’s largest talent agency, Endeavor LLC, so that he can announce the deal during his two-week trip to the U.S., which kicks off next week, the WSJ reports.
Why it matters: The Saudis have a lot of money to spend on diversifying their economy beyond oil, and this effort to push into the entertainment industry aligns with the crown prince’s modernization goals. He is also relaxing some limitations placed on movie theaters in Saudi Arabia this year and has plans to build a domestic film industry.
Sean Hannity took to Twitter Friday to respond to comments made by his Fox News colleague Shepard Smith in a recent TIME profile, after Smith referred to Fox's opinion shows as "strictly entertaining."
Nike Vice President Jayme Martin is the second top executive to leave the sportswear giant over complaints of inappropriate workplace behavior, the WSJ reports.
Timing: On Thursday, Nike's brand president Trevor Edwards, who was the potential successor to CEO Mark Parker, resigned following a review of the company's HR practices.
