6 Most Important Things in Business Today
T-Mobile US Inc. (NASDAQ: TMUS) will buy Sprint Corp. (NYSE: S) for $26 billion, creating a network as big as industry leaders AT&T Inc. (NYSE: T) and Verizon Communications Inc. (NYSE: VZ).
Walmart Inc. (NYSE: WMT) will sell its U.K. operations. According to The Wall Street Journal:
Walmart Inc. on Monday said it would sell its British arm Asda Group Ltd. to rival J Sainsbury PLC, a deal that values the chain at about £7.3 billion ($10.1 billion) and, if successful, would create the U.K.’s largest grocer.
Walmart will hold a 42% stake in the combined company and get almost £3 billion in cash. The Bentonville, Ark. company will have voting rights up to 29.9%.
“Avengers: Infinity War” broke two box office records. According to Box Office Mojo:
Audiences assembled worldwide as Disney and Marvel’s Avengers: Infinity War broke both the domestic opening weekend box office record and worldwide opening record with a massive $250 million domestically and $630 million worldwide. In its wake, the majority of films on the weekend box office chart fell dramatically, though fellow Marvel Cinematic Universe release Black Panther improved its position from eighth place last weekend to a spot in this weekend’s top five, truly making this a Marvel-ous weekend.
Alphabet Inc.’s (NASDAQ: GOOGL) YouTube has a new way to market advertising. According to CNBC:
Google’s YouTube service is introducing new ad products targeted at people watching the service on television sets, in a bid to capture a larger share of traditional TV ad budgets and capitalize on rising interest in watching internet video on a TV screen.
YouTube had previously placed its bets on a mobile future. But while the phone still accounts for 60 percent of its total views, the company says it’s noticing many viewers moving to watching YouTube on television sets using digital media players or video game consoles.
The rocket company owned by Amazon.com Inc. (NASDAQ: AMZN) founder Jeff Bezos reached a new milestone. According to CNET:
After a number of delays Sunday morning, a Blue Origin New Shepard rocket blasted off from the west Texas desert just after noon Central Daylight Time, sending a crew capsule carrying a dummy named “Mannequin Skywalker” on a brief trip to space.
For the eighth time, Jeff Bezos’ commercial space company successfully tested the system it hopes to use to send paying passengers on suborbital flights in the coming months.
The spacecraft reached an altitude of 350,000 feet (106,680 meters), or about 5 percent higher than previous New Shepard test flights. That height sent the rocket beyond the internationally accepted boundary between Earth’s atmosphere and space, called the Karman Line.
MoviePass may eliminate one of its services. According to The New York Post:
Looks like MoviePass’ movie-a-day deal may be gone for good.
The service, which previously let subscribers see a movie a day in theaters for $9.95 per month, recently slashed that number to four movies per month in a deal that tacked on an iHeartRadio premium subscription.