The Big Ten has signed a $7B seven-year agreement with Fox, CBS, and NBC for the rights to broadcast the conference’s football and basketball games. According to a source, the deal is the largest ever on an annual basis for a college sports conference. The agreement goes into effect in 2023 and expires in 2030. More: - The Big Ten has 14 current members: the Universities of Illinois, Indiana, Iowa, Maryland, Michigan, Minnesota, Nebraska, and Wisconsin, along with Michigan State, Northwestern, Ohio State, Penn State, Purdue, and Rutgers.
- In June, the Big Ten announced that the University of California, Los Angeles, and the University of Southern California would join its conference in 2024.
- Fox will continue to broadcast premium games at noon Eastern time.
- The network and its cable companion FS1 will air more than two dozen football games and at least 45 men’s and women’s basketball games.
- In 2024, CBS will replace the Southeastern Conference game of the week at 3:30 p.m. Eastern with a Big Ten game.
- The SEC game of the week is moving to ABC.
- In 2023, NBC will launch “Big Ten Saturday Night” in prime time and broadcast 15-16 games per season.
- Fox, CBS, and NBC will hold a draft for games, allowing each network some opportunities for first selection in a given week.
| |
The Biden administration is planning for the end of its payments for COVID-19 shots and treatments. The Department of Health and Human Services has set a meeting for Aug. 30 with representatives from drugmakers, pharmacies, and state health departments to discuss shifting more control of pricing and coverage to the healthcare industry. More: - The move is expected to generate sales for companies and cost consumers.
- Both the Trump and Biden administrations had planned to eventually shift the cost of COVID-19 shots and treatments from the federal government to individuals.
- A Department of Health and Human Services spokesman said the transition of payments for COVID-19 drugs and vaccines to the commercial market would take months.
- At the August meeting, officials and company representatives are expected to discuss reimbursement and coverage, regulatory issues, and access to vaccines and treatment for the uninsured.
| |
 A message from WEISS RATINGS Crash Warning: Everything Just Changed. Today’s inflationary crisis has sprouted a head and morphed into a far more dangerous beast. For the past 50 years, Weiss Ratings has helped investors navigate some of the darkest moments in our history. In this new briefing, Dr. Martin Weiss details what this crisis means: - For you
- For your money
- For your future
Including, how you can avoid its wealth-destroying impact and potentially even grow your portfolio with seven simple investments. Read the report
| |
Walgreens, CVS, and Walmart have been ordered to pay $650.6M to settle an opioid lawsuit. A federal judge said the pharmacy retailers must bear some responsibility for the opioid epidemic in the Lake and Trumbull counties outside Cleveland, Ohio. More: - U.S. District Judge Dan A. Polster said the pharmacy chains had dispensed the drugs without adequate controls and procedures to stop the drugs from being abused and resold.
- Last year, a jury ruled that the companies played a significant role in the opioid epidemic in the two counties.
- The retailers were also ordered to train employees on dispensing controlled substances and create a hotline for patients and employees to report inappropriate sales of painkillers.
- The companies must also appoint a controlled-substance compliance officer to review their prescription-validation processes.
| |
China's banking regulator is investigating property loan portfolios of some local and foreign banks to assess systemic risks. According to sources, the China Banking and Insurance Regulatory Commission (CBIRC) is reviewing the banks' loan book exposure to developers to determine if the credit decisions were made according to the rules. More: - The CBIRC aims to determine the risks the ongoing debt crisis in the real estate sector poses to the broader financial system in the country.
- According to sources, this probe is different from the usual self-reporting the banking regulator requires from banks.
- The probe comes as policymakers have been trying to stabilize the property sector, which accounts for a quarter of the economy.
- Several developers have defaulted on their bond repayments.
- The CBIRC is also asking some developers for details of their cash positions and their source of money for debt repayments.
| |
 A message from LAIKA If you’re trying to close deals, SOC 2 is probably a thorn in your side. What is it, and who cares? Your business needs SOC 2. But building compliance from scratch is complicated, time-consuming, and the cost can be crippling. Laika has you covered. Uncomplicate SOC 2 with our guide for growth-minded founders. In the guide by Laika you’ll learn: - What is SOC 2 compliance and why it matters for your startup
- How to close more deals faster by becoming SOC 2 compliant
- How to prepare for SOC 2 compliance
- What to expect in terms of time and cost
- What to do after the report is in
What makes Laika the authority on SOC 2? They’re the only compliance automation solution that was built by compliance experts. Learn how to turn compliance from a pain point into a secret edge over your competitors. Download Now 
| |
Jim Ratcliffe, the founder of the Ineos petrochemicals group, has expressed interest in buying the English football club Manchester United. The move comes after Elon Musk joked about buying the football club earlier this week on Twitter. Shares of Manchester United popped over 15% in premarket trading on Wednesday. More: - An Ineos spokesperson said Ratcliffe is interested in buying the club if its U.S.-based owners, the Glazer family, were looking to sell the team.
- On Wednesday, Bloomberg reported that the Glazer family was considering a sale of a minority stake in the club.
- Manchester United’s shares are listed on the NYSE; the club went public 10 years ago this month at $14 a share.
- The stock closed at $13.90 a share on Thursday, up ~1.7% for the day. It is down 5.3% YTD and down nearly 20% in the last year.
| |
Sales of existing homes in the U.S. fell 6% in July compared with June. This marks the sixth month of decline in home sales, the longest streak since November 2015. According to the National Association of Realtors, the sales count fell to a seasonally adjusted annualized rate of 4.81 million units. Compared with last year, sales are down over 20%. More: - July home sales figures are based on closings, so the contracts were likely signed in May and June.
- According to Mortgage News Daily, mortgage rates spiked in June, with the average rate on the 30-year fixed loan crossing 6%.
- It later settled in the high 5% range.
- In January, the average rate on a 30-year fixed mortgage was around 3%.
- The median price of a home sold in July was $403,800, up 10.8% compared to last year.
- There were 1.31 million homes for sale at the end of July, the same as in July 2021.
| |
Quick Hits - Over 12 million balls trust MANSCAPED™ precision tools for their family jewels. Click here to activate 20% off + free shipping sitewide.*
- The Ex-CFO of the Trump Organization, Allen Weisselberg, pleaded guilty to 15 felony charges including grand larceny, tax fraud, and conspiracy. Weisselberg admitted to participating in a tax-fraud scheme with another company executive and two Trump Organization corporate entities that also face criminal charges.
- Jake Freeman, a 20-year-old applied mathematics and economics student at the University of Southern California, made a $110M gain from trading Bed, Bath, & Beyond. Freeman acquired nearly 5 million shares of the company in July at under $5.50 per share. Shares of Bed, Bath, & Beyond rose to over $27 a share on Tuesday.
- Embracer Group, a Swedish entertainment company, has agreed to buy Middle-earth Enterprises, the owner of the global rights to “The Lord of the Rings” and “The Hobbit” film trilogies. The purchase was a part of six acquisitions by Embracer Group, totaling 6 billion Swedish kronor (~$572.8M).
- Over 650 Google employees signed a petition requesting that the company extend its abortion benefits to contractors and suspend donations to anti-abortion politicians. The petition also asks for better protection for users from abortion-related disinformation and police requests.
- The U.S. and Taiwan agreed on Wednesday to begin formal trade and investment talks as tensions between Washington and Beijing rise. The talks are aimed at deepening economic engagement in agriculture, digital trade, climate, and other areas.
- Trying to deliver on big expectations with a small team or budget? Use this worksheet to learn how you can do more with less.*
*This is sponsored content.
| |
Upcoming Events - August 24 - AMA with Matt Mahar (CEO at Cana) (Register Here)
- August 31 - AMA with Sophia Amoruso (CEO at Business Class) (Register Here)
- September 07 - AMA with Andrew Gazdecki (Founder of MicroAcquire) (Register Here)
- September 09 - AMA with Jay Ryan (U.S. Federal Government Program Manager at Security Compass) (Register Here)
- September 14 - AMA with Brian Dean (Founder of Backlinko) (Register Here)
- September 21 - AMA with Kristen Ruby (Founder of Ruby Media Group) (Register Here)
- September 28 - AMA with Leigh-Ann Buchanan (Founder of aīre ventures) (Register Here)
- October 12 - AMA with Bill Glenn (Executive Chairman at Crenshaw Associates) (Register Here)
- October 25 - Meet Our Fund 4, an Inside.com Summit (Register Here)
| |
 |  | Vanessa Omeokachie is a Researcher at Inside. Her interests include finance, tech, and startups. In her free time, she enjoys reading, hiking, attending music festivals, and traveling. Connect with her on Twitter @VanessaOmeo or through email at vanessa@inside.com |  | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 and 1972 Fords. | |
Unfortunately, the vast majority of Americans are completely unprepared for the potential carnage right around the corner. Don't be one of them. | |
| |
