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November 9, 2022

Snoop Dogg Signs with WME

WME has signed rapper and mogul Snoop Dogg for representation, the agency announced Tuesday. The Doggfather will work with WME to accelerate opportunities across his bustling business and philanthropic interests. “WME is the only place that can handle the career I’ve built and grow it even further. I look forward to gettin’ it with the WME team to continue innovating across music, film, TV, business, and digital and break barriers across entertainment,” Snoop said in a statement. WME showed its range, also signing social media sensation Rickey Thompson and Stranger Things actress Sadie Sink.

Binance Acquires FTX

The crypto world received shocking news on Tuesday as Binance co-founder Changpeng Zhao confirmed that FTX asked his company for help, and it signed a “non-binding letter of intent” to acquire the crypto exchange. Earlier this year, FTX received a valuation of $32 billion. The company’s founder, Sam Bankman-Fried, is said to have lost 94% of his wealth in one day, stripping him of billionaire status. FTX leveraged many strategic partnerships across sports over the last year, including Tom Brady and Stephen Curry

MLS Championship Draws 2.1M Viewers

Major League Soccer is booming. The league announced the LAFC-Philadelphia Union championship was the highest-viewed game since 1997 — and second highest-rated match in the league’s 27-year history. The match drew 2.155 million viewers in the US alone on Fox and Univision. Viewership in the 18-29 demographic was 976,000, the fifth-highest-ever total for an MLS Cup. It also marks the most-watched MLS Cup in history for a game not played in primetime.

Read more from Boardroom’s Shlomo Sprung.

Lewis Hamilton Gets Honorary Citizenship Status in Advance of Brazilian GP

Lewis Hamilton and Brazil have always had a special relationship. Now they are making it official. Brazil extended honorary citizenship to the Mercedes driver. Hamilton recounted his connection with the country, sparked at a young age while watching F1 legend Ayrton Senna. He told the crowd during the official ceremony, “I really do feel like now I’m one of you.”

Kyrie Irving Meets with Adam Silver Amidst Suspension

The Brooklyn Nets suspended Kyrie Irving for a minimum of five games last week. The disciplinary action came in the wake of Irving sharing a film that espoused deeply antisemitic rhetoric and failing to apologize, despite multiple opportunities. Irving met with the NBA’s commissioner Adam Silver on Tuesday to discuss his potential path forward in what reports indicate was a “productive meeting.”

Boardroom’s Sam Dunn gamed out four potential paths forward for Brooklyn and Irving.

California Votes Down Sports Betting

Your California dreams won’t include hitting a 12-leg parlay. Voters in the state voted down two measures that would legalize sports betting statewide, including online betting. In the run-up to the election, special interest groups spent more than $600 million in educational materials and ads surrounding Propositions 26 and 27. Voters struck both down by an overwhelming margin.  

Condé Nast Shuts Down Drake and 21 Savage’s Fake Cover Stunt

It was all fun and games when Drake and 21 Savage have manufactured a high-brow fake media tour, including an NPR “Tiny Desk Concert,” a COLORS appearance, and an iconic Vogue cover. It’s all fun and games until you mess with Anna Wintour. Condé Nast, owner of Vogue Magazine, has asked a judge to cease the duo’s use of classic Vogue imagery as part of their Her Loss campaign and seeks $4 million for copyright infringement. The duo reportedly “misled fans” into believing the magazine would drop a special edition, but that was never the case.

Kith Lays up NYC Legends Ghostface Killah & Raekwon for Knicks Collab

New York or nowhere. Ghostface Killah and Raekwon teamed up with Kith as the brand prepares to unveil the upcoming New York Knicks x KITH campaign. The duo released a freestyle that includes several Knicks’ references, including to John Starks who played for the team back in the 90s. Kith night is on Friday, Nov. 11 when New York faces Detroit. MSG will be all Kith-themed with pop-up shops around the arena. The event follows last year’s collab, which featured NYC legends, The Lox.

Meta Prepares to Layoff 11,000 Employees

Mark Zuckerberg wrote an open letter to Meta on Wednesday, confirming that the company is preparing to lay off a significant number of employees. Meta experienced a massive spike in costs over the last year, which drove up operating budgets. Recent financial projections suggest that the company will continue to see disappointing numbers as it closes out the year, which significantly impact its bottom line. Now, the company is prepared to lay off nearly 15% of its workforce. Zuckerberg wrote, “I want to take accountability for these decisions and for how we got here. I know this is tough for everyone, and I’m especially sorry to those impacted.”