Jet Blue & Spirit Airlines' $3.8 Billion Deal Blocked by Federal Judge
The purchase of Spirit Airlines by JetBlue Airways has been officially blocked by a federal judge. The judge argues that the $3.8 billion deal would reduce competition. The news comes on the heels of the Justice Department’s lawsuit to block the merger in March 2023 on the basis that it would drive up fares by eliminating Spirit, the nation’s largest budget-friendly airline. However, JetBlue contested that the deal would help travelers by making JetBlue a stronger competitor against bigger rivals that dominate the domestic airline market. As a result, shares of Spirit Airlines Inc. plunged more than half almost immediately, while JetBlue shares gained 8% shortly after the news was announced.
Pharrell Debuts New Louis Vuitton Collection at Paris Fashion Week
Pharrell Williams premiered his first Fall/Winter 2024 collection as Creative Director of Louis Vuitton on Tuesday. Held at the Jardin d’Acclimatation in Paris, France, the luxury fashion brand describes the presentation as “an exploration of the origins of workwear through the savoir faire of Louis Vuitton.” Pieces include denim, cowboy boots, and Native American-inspired ponchos and feature tassels, pearl and sequin floral embroideries, and more details you’d see at any rodeo in Texas. Guests included A$AP Nast, A$AP Ferg, Antwaun Sargent, Dev Hynes, Kehinde Wiley, Lakeith Stanfield, Maggie Rogers, Pusha T, and more famous faces.
Mallory Swanson, Chicago Red Stars Agree to Record-setting NWSL Contract
Striker Mallory Swanson is staying in Chicago for at least four more years after agreeing to a record-breaking contract with the Chicago Red Stars. Although it didn’t reveal the extension terms, the club called it “the most lucrative agreement in the history of the National Women’s Soccer League.” According to ESPN, Swanson’s deal with the Red Stars is worth close to $2 million, making her the highest-paid athlete in the NWSL. “These last few years have been such a blessing in Chicago, even with the ups and downs, and I can’t wait to be back,” said Swanson. The new deal tops Houston Dash forward María Sánchez’s reported $1.5 million, three-year contract signed in December.
'Drive to Survive' Producers Secure Multi-million Dollar Investment from Bruin Capital
Box To Box Films, the production company behind the popular Netflix series Formula 1: Drive to Survive, has secured a multimillion-dollar investment from Bruin Capital. Monetary figures were not released, but Sportico reports the number is roughly $38 million. In a statement, Box to Box said they will use the funds to “expand into self-financed projects as well as new verticals (i.e., digital, branded and scripted) while also exploring strategic M&A.” Box to Box is also behind other programs at Netflix like the tennis docuseries Break Point, golf series Full Swing, and a new upcoming Apple TV+ show about Major League Soccer.
Los Angeles Clippers Selected as Host of 2026 NBA All-Star Weekend
The NBA All-Star Game is headed to sunny California. Adam Silver announced on Tuesday that the Los Angeles Clippers and their new state-of-the-art home, the Intuit Dome, will host the 2026 All-Star weekend. The Team’s Chairman Steve Ballmer and President of Business Operations Gillian Zucker were joined by Los Angeles Mayor Karen Bass and Inglewood Mayor James T. Butts Jr. for the announcement ceremony. The Intuit Dome is slated to open its doors in August 2024.
Francis Ngannou is Subject of Harvard Business School Case Study
Francis Ngannou is the subject of a new case study by Harvard Business School. According to Harvard professor Anita Elberse, Ngannou’s manager, Marquel Martin, was instrumental in making it happen. The 20-page document revolves around the Cameroonian’s willingness to bet on himself after walking away from an offer that would have made him the highest-paid heavyweight in UFC history. A year later, Ngannou signed a ground-breaking deal with the PFL and knocked down Tyson Fury in his critically acclaimed pro boxing debut in Riyadh. Ngannou is confirmed to face two-time heavyweight world champion Anthony Joshua in Riyadh on March 8.