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UFC, WWE combine to form $21.4B sports entertainment company

Published Tue, 25 Feb 2025 02:05:06 GMT

WWE and the company that runs Ultimate Fighting Championship will combine to create a $21.4 billion sports entertainment company.A new publicly traded company will be formed that houses the UFC and WWE brands, with Endeavor Group Holdings Inc. taking a 51% controlling interest in the new company. Existing WWE shareholders will hold a 49% stake.The companies put the enterprise value of UFC at $12.1 billion and WWE’s value at $9.3 billion.The new business, which does not yet have a name, will be lead by Endeavor CEO Ari Emanuel. Vince McMahon, executive chairman at WWE, will serve in the same role at the new company.Dana White will continue as president of UFC and Nick Khan will be president at WWE.“Together, we will be a $21+ billion live sports and entertainment powerhouse with a collective fanbase of more than a billion people and an exciting growth opportunity,” McMahon said in a prepared statement Monday.He also provided some idea of where the focus of the new c...

Finland to join NATO Tuesday, military alliance chief says

Published Tue, 25 Feb 2025 02:05:06 GMT

BRUSSELS (AP) — NATO Secretary-General Jens Stoltenberg said Monday Finland will become the 31st member of the world’s biggest military alliance on Tuesday, prompting a warning from Russia that it would bolster its defenses near their joint border if NATO deploys any troops in its new member.“This is a historic week,” Stoltenberg told reporters on the eve of a meeting of NATO foreign ministers in Brussels. “From tomorrow, Finland will be a full member of the alliance.” He said that he hopes Sweden will be able to join NATO in coming months.The former Norwegian prime minister said that on Tuesday afternoon, “we will raise the Finnish flag for the first time here at the NATO headquarters. It will be a good day for Finland’s security, for Nordic security, and for NATO as a whole.”Stoltenberg said that Turkey, the last country to have ratified Finland’s membership, will hand its official texts to U.S. Secretary of State Antony Blinken on Tuesday. Stoltenberg said he would th...

Philippines names 4 new camps for US forces amid China fury

Published Tue, 25 Feb 2025 02:05:06 GMT

MANILA, Philippines (AP) — The Philippine government on Monday identified four new local military camps, including some across a sea border from Taiwan, where rotational batches of American forces with their weapons would be allowed to stay indefinitely despite strong objections from China.President Ferdinand Marcos Jr.’s administration announced in February his approval of an expanded U.S. military presence in the country by allowing American forces to station in the four additional Philippine military bases under the 2014 Enhanced Defense Cooperation Agreement between the longtime treaty allies. The move would boost his country’s coastal defense, Marcos said. It dovetails with the Biden administration’s effort to strengthen an arc of military alliances in the Indo-Pacific to better counter China, including in any future confrontation over Taiwan.The new sites identified by Marcos’ office include a Philippine navy base in Santa Ana town and an international ...

Teacher shot by 6-year-old student files $40 million lawsuit

Published Tue, 25 Feb 2025 02:05:06 GMT

RICHMOND, Va. (AP) — A first-grade Virginia teacher who was shot and seriously wounded by her 6-year-old student filed a lawsuit Monday seeking $40 million in damages from school officials, accusing them of gross negligence for allegedly ignoring multiple warnings on the day of the shooting that the boy had a gun and was in a “violent mood.”Abby Zwerner, a 25-year-old teacher at Richneck Elementary School in Newport News, Virginia was shot in the hand and chest on Jan. 6 as she sat at a reading table in her classroom. She spent nearly two weeks in the hospital and has had four surgeries since the shooting.The shooting rattled the military shipbuilding community and sent shock waves around the country, with many wondering how a child so young could get access to a gun and shoot his teacher.The lawsuit names the Newport News School Board and several school district officials, including former Superintendent George Parker III, as defendants.Michelle Price, a spokesperson for the school...

Teck Resources rejects unsolicited takeover offer from Glencore

Published Tue, 25 Feb 2025 02:05:06 GMT

VANCOUVER — Teck Resources Ltd. says it has rejected an unsolicited takeover offer from Glencore.Teck board chair Sheila Murray says it is not contemplating a sale of the company at this time. Teck announced a plan earlier this year to split the company in two, separating its steelmaking coal business from its base metals operations. Murray says the board believes the company’s plan creates a greater spectrum of opportunities to maximize value for Teck shareholders.Teck says the offer from Glencore was for 7.78 Glencore shares for each Teck class B subordinate voting share and 12.73 Glencore shares for each Teck class A share, a 20 per cent premium for both on the date of the offer. Teck CEO Jonathan Price says the proposal would expose Teck shareholders to a large thermal coal business, an oil trading business and significant jurisdictional risk, all of which he says would hurt the value potential of Teck’s business.This report by The Canadian Press was first published April ...

Harsh fines could be coming for Toronto drivers caught ‘blocking the box’

Published Tue, 25 Feb 2025 02:05:06 GMT

Steeper fines could be on the way for drivers in Toronto who get caught stuck in the middle of an intersection on a red light.It’s known as ‘blocking the box’, and the city wants to do more to crack down on it, urging the province to raise the fines for anyone who gets caught.City council has approved a motion from Deputy Mayor Jennifer McKelvie that urges the Ford government to implement higher fines. McKelvie says the bad driving behaviour is costing people time, money, and contributes to congestion.“Tying up an oncoming traffic is one of the most inconsiderate things you can do,” says McKelvie in a statement. “Depending on the intersection, you can end up blocking other drivers trying to proceed legally, riders on transit vehicles, pedestrians, and cyclists.”It's time to send a strong message that blocking the box will cost you.This week, City Council approved my push to crack down on drivers caught blocking the box and adding to cong...

Ovintiv signs deal to buy Midland Basin assets for US$4.275B, selling Bakken assets

Published Tue, 25 Feb 2025 02:05:06 GMT

CALGARY — Ovintiv Inc. has signed a deal to buy a portfolio of assets in the Midland Basin in Texas in an agreement valued at US$4.275 billion in cash and shares.The company is acquiring the assets from a group of portfolio companies of funds managed by EnCap Investments LP.Under the terms of the deal, the sellers will receive about 32.6 million shares of Ovintiv common stock and US$3.125 billion in cash. To help fund the transaction, Ovintiv says it has signed an agreement to sell its Bakken assets in North Dakota to a portfolio company of funds managed by EnCap for US$825 million.The deals are expected to close by the end of the second quarter, subject to customary closing conditions and adjustments.Ovintiv also announced it has raised its quarterly dividend by a nickel to 30 cents per share.This report by The Canadian Press was first published April 3, 2023.Companies in this story: (TSX:OVV)The Canadian Press

Ugandan forces take over east Congo town as M23 rebels leave

Published Tue, 25 Feb 2025 02:05:06 GMT

GOMA, Congo (AP) — East African regional forces have regained control of Bunagana, a strategic town in eastern Congo that had been held by M23 rebels for more than nine months, a spokesman for the regional force said Monday. Ugandan forces officially deployed to Bunagana and will establish a foothold in the area and give the M23 forces time to vacate, said Capt. Kato Ahmad Hassan, spokesman for the Ugandan contingent of the regional force. “We appreciate the command of the M23 for being cooperative to the contingent, for according us a safe passage and for allowing us to occupy Bunagana,” he said.M23 did not respond to request for comment about their departure from Bunagana. The rebels’ departure from Bunagana has been a key demand during several rounds of mediation efforts on the crisis in eastern Congo, where more than 120 armed groups have been fighting for land, power and resources and some to protect their communities.M23 rose to prominence 10 years ago when its fighters ...

17-year-old killed in Humboldt Park triple shooting

Published Tue, 25 Feb 2025 02:05:06 GMT

CHICAGO — A 17-year-old boy died following a triple shooting Sunday night in Humboldt Park.At around 6:10 a.m., police responded to the 800 block of North Hamlin Avenue on the report of a shooting.At the scene, police located a 17-year-old boy, a 16-year-old boy and a 21-year-old man suffering from gunshot wounds. The 17-year-old boy was pronounced dead at Mt. Sinai. Man struck, killed in Northwest Side intersection The other teen's condition is unknown and the 21-year-old was transported in good condition.No suspects are in custody. Anyone with information can leave an anonymous tip at cpdtip.com.

Man crashes car into home on Lower West Side

Published Tue, 25 Feb 2025 02:05:06 GMT

CHICAGO — A driver struck another car head on and crashed into a home on the city's Lower West Side Sunday night.Police say a man was driving a chevy station wagon going northbound on Paulina Street when he struck another vehicle head on. The driver continued northbound and drove into a home, crashing into the main window. He then fled the scene in an unknown direction. CPD: 14-year-old shot in the chest in Chatham According to police reports, a 26-year-old woman driving the other vehicle was transported to Stroger Hospital in good condition. No one was injured in the residence and there is currently no one in custody. Police are investigating the incident.