Stellantis, the automaker formed through the merger of Fiat Chrysler and PSA Groupe, is facing challenging market conditions that have led to the decision to lay off approximately 400 salaried employees in the U.S. The layoffs will affect employees in the engineering, technology, and software units, representing about 2% of the total workforce in those
Business
The ongoing legal battle between sports merchandise giant Fanatics and sportsbook giant DraftKings has taken a contentious turn. Fanatics has accused DraftKings of distorting reality and engaging in character assassination of its former senior vice president of business development, Michael Hermalyn. The accusations stem from Hermalyn’s move to Fanatics in February to take on the
Disney’s ESPN, a powerhouse in the world of sports broadcasting, is facing a pivotal moment in its history. For over four decades, the network has relied on increasing cable subscription fees to boost its annual revenue. Starting at less than $1 per month per subscriber in the 1980s, ESPN’s carriage fee has climbed to $9.42
Sotheby’s, the renowned auction house, is strategically increasing its sports offerings to cater to the growing demand for sports memorabilia and to attract a younger demographic. In an effort to engage with collecting communities and introduce creative sale formats, Sotheby’s recently announced its first “Sports Week,” which will feature six live and online auctions showcasing