Daily business news in the Great State of New York!
The NY Times has launched a new site focused on parenting. NYT Parenting is a site for new and expecting parents who want help having and raising kids today. Whether readers are struggling with fertility or feeling burnt out at home with little kids, in the Parenting section the NY Times will provide guidance and […]
ELMSFORD, NY — Party City won’t be celebrating this news. The Westchester-based party goods chain said it will close 45 of its locations this year. There are currently 870 Party City stores across the country. The store closures will take place throughout the year. Party City also reported first quarter results and blamed a global […]
LONG ISLAND CITY — Altice USA, which has 4.9 million residential and business customers with a major presence in the NY metro area including Long Island and Westchester counties, has agreed to acquire Cheddar, the digital-first news company, for $200 million. (Photo: Jon Steinberg, CEO of Cheddar, and Dexter Goel, CEO of Altice USA, Source: […]
NEW YORK & ARMONK, NY — Private equity firm Centerbridge Partners has struck a deal to buy IBM’s marketing platform and commerce software offerings. The transaction is expected to close in mid-2019, subject to completion of applicable regulatory reviews and customary closing conditions. Terms of the deal weren’t disclosed. After closing, Centerbridge intends to form […]
NEW YORK — Dow Inc. (NYSE: DOW) is going to replace DowDuPont Inc. (NYSE: DWDP) in the Dow Jones Industrial Average (DJIA) effective prior to the open of trading on Tuesday, April 2, 2019. The Dow Inc. name is not related to the Dow Jones name, which was originally created by journalist Charles Dow, who also founded The Wall Street […]
NEW YORK — Viacom is expanding its streaming TV business with a deal to acquire Pluto TV, the leading free streaming television service in U.S., for $340 million in cash. Viacom operates cable channels including MTV, Nickelodeon, Comedy Central, BET and CMT. It also owns digital studio AwesomenessTV. Founded in 2013, Pluto TV is headquartered in Los Angeles […]
NEW YORK — Le Macaron French Pastries, a French patisserie with 50 locations, is planning to open more than 20 locations in NY in the next five years. The chain offers guests authentic French macarons and pastries. Already in the NY market is franchisee Frank Kelly whose Yonkers Le Macaron location has been in operation […]
ARMONK, NY — Inventors at IBM received a record 9,100 patents in 2018, marking the company’s 26th consecutive year of U.S. patent leadership. IBM led the industry in the number of artificial intelligence (AI), cloud computing, security and quantum computing-related patent grants. “IBM is committed to leading the way on the technologies that change the way […]
NEW YORK — MetLife has named Michel Khalaf, president, U.S. Business and EMEA, will become MetLife’s president and chief executive officer on May 1, 2019. Khalaf also has been appointed to the MetLife board effective May 1. Steven Kandarian, who is retiring, will continue to serve as chairman, president and CEO through April 30, 2019. […]
Ginni Rometty — Chairman, President and CEO of IBM — will deliver the opening keynote at CES 2019 on Tuesday, Jan. 8 in Las Vegas. CES (formerly known as the Consumer Electronics Show) is the largest and one of the most influential technology events in the world. Rometty will speak on how technologies like artificial […]
Oath, the bizarre name given to Verizon’s digital media subsidiary, is losing its name next year and will officially become Verizon Media Group on January 8, 2019. Oath was formed on June 23, 2017 when Verizon purchased Yahoo for $4.48 billion. It merged the Internet site with its own content division that included AOL, Techcrunch […]
DES MOINES, Iowa and NEW YORK — Meredith Corporation is selling the FORTUNE media brand and business magazine for $150 million cash to Fortune Media Group Holdings Limited, wholly owned by Thai businessman Chatchaval Jiaravanon. The transaction is expected to close later this year. Mr. Jiaravanon’s family owns Thailand’s Charoen Pokphand Group (www.cpgroupglobal.com), an international conglomerate […]
NEW YORK — Music news magazine Billboard has named Ariana Grande its 2018 Woman of the Year. The award-winning singer, songwriter, actress and activist will accept the honor at the 13th annual Women in Music dinner and awards ceremony on December 6 in New York City. The event, held in conjunction with the release of […]
NEW YORK — Publisher Simon & Schuster announced that Bob Woodward’s FEAR: TRUMP IN THE WHITE HOUSE sold a total of more than 750,000 copies through Tuesday, September 11, the first day the book went on sale. The combined sales figure includes pre-orders and first day sales of print books, ebooks, and audiobooks in both […]
AT&T has completed its $85 billion acquisition of Time Warner Inc., just two days after a federal judge ruled against objections to the deal by the Department of Justice. The deal brings together global media and entertainment leaders Warner Bros., HBO and Turner with AT&T’s strong presence in technology and its video, mobile and broadband […]