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Paramount gets green light for $8 billion merger. But what is the psychic cost for company?

Paramount gets green light for $8 billion merger. But what is the psychic cost for company?

By DAVID BAUDER

With this week’s FCC approval, the merger between Paramount Global and Skydance Media is expected to be completed in the coming weeks at a value of $8 billion. The question for the new company is whether the psychic cost is much higher.

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It has been a particularly rough few months at Paramount-owned CBS, where the settlement of a lawsuit regarding “60 Minutes” and announced end of Stephen Colbert’s late-night show has led critics to suggest corporate leaders were bowing to President Donald Trump.

Following the Federal Communications Commission approval Thursday, one of the triumvirate of current Paramount leaders, Chris McCarthy, said that he would be leaving the company. McCarthy has been in charge of fading cable properties like MTV, Comedy Central and Nickelodeon, expected to bear the brunt of an estimated $2 billion in cost cuts identified by Skydance leaders. read more

Tea, an app for women to safely talk about men they date, has been breached, user IDs exposed

Tea, an app for women to safely talk about men they date, has been breached, user IDs exposed

By BARBARA ORTUTAY

Tea, an app designed to let women safely discuss men they date has been breached, with thousands of selfies and photo IDs of users exposed, the company confirmed on Friday.

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Tea said that about 72,000 images were leaked online, including 13,000 images of selfies or selfies featuring a photo identification that users submitted during account verification. Another 59,000 images publicly viewable in the app from posts, comments and direct messages were also accessed without authorization, according to a Tea spokesperson.

No email addresses or phone numbers were accessed, the company said, and the breach only affects users who signed up before February 2024. read more

Meta will cease political ads in European Union by fall, blaming bloc’s new rules

Meta will cease political ads in European Union by fall, blaming bloc’s new rules

By KELVIN CHAN

LONDON (AP) — Facebook and Instagram owner Meta said Friday that it will stop all political advertising in the European Union by October, blaming legal uncertainty over new rules designed to increase transparency in election campaigns.

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The social media giant said in a blog post that it will no longer allow ads for political, electoral and social issues on its platforms, which also include Threads, starting in early October.

The company said it was making the decision because of the 27-nation EU’s “unworkable” Transparency and Targeting of Political Advertising regulations. read more

The Savings Game: How to buy an annuity

The Savings Game: How to buy an annuity

If you want to become educated regarding all types of annuities, I recommend you go to the website of Stan Haithcock at stantheannuityman.com. You can request, at no cost to you, brochures on every type of annuity, including the pros and cons of each type. The brochures are not written from the point of view of a sales pitch for using his services. They will be valuable to you whether you use his services or not.

You can listen to his podcasts at no cost to learn about the basics of annuities. His podcasts are very educational, and they are presented in a way you will understand whether you should be considering annuities. He points out you should only purchase an annuity if you understand the contractual guarantee you are obtaining from any annuity you consider.

If you have not reached age 50, you should not be considering annuities, nor should you consider them if you have reached age 80.

Haithcock will discuss with you the pros and cons of different sources of assets that you can use to fund the annuities. For example, he will review with you the pros and cons of whether you should be considering annuities within the structure of a traditional IRA or 401(k). read more

Intel cuts back spending, workforce as struggling chip maker mounts comeback

Intel cuts back spending, workforce as struggling chip maker mounts comeback

By BARBARA ORTUTAY

Intel Corp. is shedding thousands of workers and cutting expenses as its new CEO works to revive the fortunes of the struggling chipmaker that helped launch Silicon Valley but has fallen behind rivals like Nvidia Corp. and Advanced Micro Devices Inc.

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In a memo to employees Thursday, CEO Lip-Bu Tan said Intel plans to end the year with 75,000 “core” workers excluding subsidiaries, through layoffs and attrition. That’s down from 99,500 core employees at the end of last year. The company previously announced a 15% workforce reduction.

“I know the past few months have not been easy. We are making hard but necessary decisions to streamline the organization, drive greater efficiency and increase accountability at every level of the company,” Tan wrote. read more