Axios

Retired NFL star Michael Oher, who inspired the 2009 film "The Blind Side," filed a petition in a Tennessee court on Monday accusing Sean and Leigh Anne Tuohy of tricking him into making them his conservators rather than adopting him.

Why it matters: The lawsuit alleges that the Tuohys enriched themselves at Oher's expense and asks a probate court to terminate their conservatorship over him.

Sports Illustrated publisher The Arena Group has agreed to sell a majority stake to entrepreneur Manoj Bhargava's Simplify Inventions, the company said Monday.

Why it matters: One of the few publicly traded digital media holding groups, Arena Group is profitable and consistently growing, but its stock has been heavily impacted by the slowdown in digital advertising.

There's good, bad — and potentially worse news on the horizon for the resilient economy.

Why it matters: Most Wall Street economists don't think a downturn is in the offing for 2023. Yet for some, next year is already starting to look precarious.

CoinDesk, the crypto media company that broke the story that led to the fall of crypto exchange FTX and its founder Sam Bankman-Fried, is eliminating positions, according to an internal note from its CEO to staff obtained by Axios.

Why it matters: The expected cuts are part of a broader effort meant to help the company curb costs to facilitate a sale.

Wendy McMahon, formerly the co-president of CBS News, has been promoted to president and chief executive officer of CBS News and Stations and CBS Media Ventures.

Why it matters: Her new role was announced the day after her former CBS News co-president Neeraj Khemlani said he would step down from his position after about two years on the job.

Be prepared to find Christmas decor near the school supplies this year: The holiday shopping season is creeping earlier and earlier.

Why it matters: The traditional holiday shopping season ended with COVID, which pushed more deals online and caused retailers to spread out demand.

America's banks have become more reluctant to lend money to businesses and households — an intended side effect of the Fed's rate-hiking campaign.

Why it matters: New research shows that phenomenon playing out to an extraordinary degree. Making credit more expensive and harder to get will weigh on economic activity and quell inflation.

There's more good news on the inflation front: Consumers continue to expect inflation will recede in the years ahead.

Why it matters: It's the latest sign that Americans do not believe high inflation will be a mainstay of the economy, which would have made inflation more difficult to stamp out.

Robert Nelsen is one of the most successful biotech VCs ever, having backed over three dozen companies that reached billion-dollar valuations. He's also a thyroid cancer survivor who credits early detection to a company in which his firm, Arch Venture Partners, never invested.

Why it matters: There is a simmering medical debate over the value of full-body scans, like the one Nelsen received, and the growing cohort of venture-backed startups that provide them.

Bain Capital agreed to buy Chinese data center operator Chindata Group for $3.16 billion, beating out a rival bid from China Merchants Capital.

Why it matters: This suggests that U.S. private equity firms aren't too worried about an expansion of President Biden's executive order on outbound investment. Or that the Treasury Department will take a liberal view of what it means to be a company operating in the AI sector.

CNN on Monday unveiled a new programming lineup that elevates some of its up-and-coming talent while also bringing big shows back to existing stars.

Why it matters: It's the first major change at the network announced by its new leaders, who took the helm following the dramatic exit of former CEO Chris Licht.

The private credit industry was already growing like gangbusters — then came 2023.

What happened: The banking crisis in March along with the pending regulatory changes to bank capital requirements are adding even more rocket fuel to an asset class that's more than tripled in size since 2015.

Walter Isaacson — who'll be out 30 days from now with a new book titled "Elon Musk" — tells me Musk has studied the French emperor Napoleon Bonaparte for leadership insights.

The big picture: "He likes military history," Isaacson said, adding that Musk told him about reading and listening to World War I history. "And he believes there are lessons that apply to corporate life."

E-bike incentive programs have been rolled out or proposed in about two dozen states nationwide, helping to bring down out-of-pocket costs — especially for lower-income buyers.

• That's according to data collected by PlanRVA, which promotes cooperation on regional planning issues among Richmond, Virginia-area communities.

A police department in Marion, Kansas, was accused Sunday of violating First Amendment protections after officers raided a local paper and the home of its owners.

Driving the news: The Marion County Record's publisher told Axios on Monday that he plans to file a federal lawsuit over the raid, which the paper said contributed to the death of its 98-year-old co-owner Joan Meyer. The raid was widely condemned by major news organizations and journalism advocacy groups.

CBS News co-president Neeraj Khemlani is stepping down from his position after a little more than two years on the job, according to a staff memo obtained by Axios.

Why it matters: The abrupt announcement Sunday evening did not include a succession plan.