Raphael Stevens

A Delaware judge said Wednesday he would compel Fox Corp.’s Rupert Murdoch and Lachlan Murdoch to testify live in court during the trial that’s slated to kick off later this month.
Dominion also wants the judge to compel Paul Ryan, the former speaker of the House and a Fox board member, and Viet Dinh, Fox’s chief legal and policy officer, to testify in person.
Fox’s top talent, including Tucker Carlson, Sean Hannity, Maria Bartiromo and Laura Ingraham are to appear live in court.

Rupert Murdoch, chairman of News Corp and co-chairman of 21st Century Fox, arrives at the Sun Valley Resort of the annual Allen & Company Sun Valley Conference, July 10, 2018 in Sun Valley, Idaho.
Drew Angerer | Getty Images

A Delaware judge said Wednesday that he would compel Fox Corp. Chairman Rupert Murdoch, and his son, CEO Lachlan Murdoch, to appear live in court for the upcoming trial in Dominion Voting System’s $1.6 billion defamation lawsuit against Fox and its networks.
Earlier on Wednesday Dominion in a letter filed to the court urged Judge Eric Davis, who is presiding over the case, to compel both Murdochs to appear live. It also requested in-person testimony from Paul Ryan, the Republican former speaker of the House and a Fox board member, and Viet Dinh, Fox’s chief legal and policy officer.

“Fox and Dominion have made these four parties very relevant,” Davis said during a hearing on Wednesday. “It’s not the corporation that raises its hand on the stand, it’s their officers and directors that raise their hand on the stand.”
“So if Dominion wants to bring them in live, they need to do a trial subpoena and I would not quash it. I would compel them to come,” Davis added on Wednesday.
The letter comes days after the judge ruled that the lawsuit would go to trial in April.
Davis had rejected Fox’s arguments, but granted several of Dominion’s motions with the exception of its argument that Fox and its hosts acted with malice in broadcasting false claims about the 2020 presidential election between Donald Trump and Joe Biden.
The trial is scheduled to begin on April 17. Dominion and Fox have agreed that some of Fox’s top TV talent, including Tucker Carlson, Sean Hannity, Maria Bartiromo and Jeanine Pirro, as well as former host Lou Dobbs and Fox News CEO Suzanne Scott, will appear in court to give their testimonies live.

In earlier court papers Dominion did not included the Murdochs on its list for live testimony, although it had been earlier discussed in court.
Fox had opposed Murdoch, as well as the other Fox Corp. executives, giving their testimony live in court. They had also pointed to the elder Murdoch’s age, 92, as a reason for why he couldn’t appear live in court. The judge rejected that argument during last week’s hearing.
“Dominion clearly wants to continue generating misleading stories from their friends in the media to distract from their weak case,” a Fox spokesperson said in a statement. “Demanding witnesses who had nothing to do with the challenged broadcasts is just the latest example of their political crusade in search of a financial windfall.”  
On Wednesday, Davis also noted ahead of next week’s pre-trial conference, that he didn’t see Jan. 6, 2021 – the day a violent mob breached the U.S. Capitol in support of then-President Trump – as relevant in this case.
“I know that probably shocks everyone,” Davis said, adding that in developing this case and the court’s opinion, the focus is on a specific timeframe and is aware of only one statement made subsequent to Jan. 6 that is concerning Dominion.
In the trove of evidence that has come to light in this case, documents show the network’s internal response to Jan. 6, including Fox executives shutting down Trump’s attempt to appear on air that evening. That same evening Carlson texted his producer calling Trump “a demonic force. A destroyer. But he’s not going to destroy us,” referring to Fox’s network and its audience, according to court papers. More

Johnson & Johnson shares climbed after the company proposed paying $8.9 billion to settle thousands of claims that its baby powder and other talc products caused cancer.
More than 60,000 claimants have committed to support the proposed resolution, which would require approval in bankruptcy court.
On Wall Street, some analysts were also encouraged by J&J’s move despite uncertainty around the final outcome of the proposal.

In this photo illustration a bottle of Johnson & Johnson baby powder is displayed on a table on November 12, 2021 in San Anselmo, California.
Justin Sullivan | Getty Images

Johnson & Johnson shares on Wednesday climbed after the company proposed paying $8.9 billion to settle thousands of claims that its baby powder and other talc products caused cancer. 
More than 60,000 claimants have committed to support the proposed resolution, which would require approval in bankruptcy court, the company announced in a securities filing late Tuesday.

J&J’s stock closed nearly 4.5% higher Wednesday. The company’s market value stands at more than $430 billion.
The pharmaceutical giant also said its subsidiary LTL Management refiled for Chapter 11 bankruptcy protection after its first attempt faced legal challenges. The subsidiary is shouldering tens of thousands of talc lawsuits in a bid to reduce J&J’s losses from litigation and settlement. 
Some lawyers representing plaintiffs in the talc lawsuits called J&J’s proposal a “significant victory” in a legal fight that has lasted more than a decade. 
On Wall Street, some analysts were also encouraged by J&J’s move despite uncertainty around the final outcome of the proposal.
JPMorgan analyst Chris Schott on Thursday called the proposed settlement a positive for the company in a note. He said the bank has viewed ongoing talc headlines as the “larger overhang” for the company compared to an actual settlement value. 

The proposed $8.9 billion settlement is also in-line with JPMorgan’s $8 billion to $10 billion estimate, Schott noted. 
A Thursday note from Morgan Stanley analyst Terence Flynn shared a similar positive take on J&J’s move. But Flynn said he is waiting for clarity on how the 60,000 claimants tie back to the 40,300 plaintiffs cited in J&J’s recent 10-K filing and the roughly 37,500 actions pending on the company’s talc cases. 
It’s also unclear whether the proposed settlement will win approval in bankruptcy court, Bank of America analyst Geoff Meacham noted Thursday. Meacham pointed to J&J’s legal woes over LTL Management’s bankruptcy protection filing. 
A judge affirmed J&J’s ability to use the Chapter 11 strategy in February 2022. But the U.S. Court of Appeals for the 3rd Circuit overturned the ruling in January this year, saying neither LTL nor J&J had a legitimate need for bankruptcy protection because they were not in “financial distress.”
Bernstein Analyst Lee Hambright acknowledged that there are “many issues” to sort through with J&J settling talc liability in bankruptcy court. But he added that the firm believes “this is a creative approach that might actually work.” More

Chipotle Mexican Grill filed a lawsuit against Sweetgreen alleging trademark infringement over its new “Chipotle Chicken Burrito Bowl.”
Chipotle said it sent the salad chain a cease and desist notice before filing the lawsuit in California federal court.
In addition to asking the court for an injunction against Sweetgreen, Chipotle is also asking for the profits that Sweetgreen earns from the Chipotle Chicken Burrito Bowl.

Sweetgreen’s Chipotle Chicken Burrito Bowl
Source: Sweetgreen

Sweetgreen’s stock closed down 6% Wednesday after Chipotle Mexican Grill filed a lawsuit against the salad chain alleging trademark infringement over its new “Chipotle Chicken Burrito Bowl.”
Chipotle filed the suit in California federal court Tuesday, less than a week after Sweetgreen launched the menu item.

When the new bowl was announced on Thursday, Sweetgreen co-founder and Chief Concept Officer Nic Jammet said in a statement that the name was inspired by its use of “bold chipotle spices.” Chipotle said in its complaint that it sent Sweetgreen a cease and desist notice and asked the company to drop “chipotle” from the name when it heard about the Chipotle Chicken Burrito Bowl, but Sweetgreen never responded. (Sweetgreen told CNBC on Wednesday the company responded to the cease and desist on Tuesday, after the lawsuit was filed.)
Chipotle’s lawsuit also claims that Sweetgreen advertisements for the menu item feature “Chipotle” in a font similar to the burrito chain’s stylized logo and sometimes use a shade of red similar to Chipotle’s trademarked Adobo Red. Sweetgreen’s website features the product name larger than any other identifying feature that ties it back to Sweetgreen, Chipotle argues in the complaint.
The complaint also notes multiple times that Chipotle and Sweetgreen are both competitors in the fast-casual sector.
In addition to asking the court for an injunction against Sweetgreen, Chipotle is also asking for the profits that Sweetgreen earns from the Chipotle Chicken Burrito Bowl.
“We don’t typically comment on litigation, but we will say generally that we’re committed to protecting our valuable trademarks and intellectual property,” Laurie Schalow, Chipotle chief corporate affairs officer, said in a statement to CNBC. “Consistent with that, we will take appropriate actions whenever necessary to protect our rights and our brand.”

A representative for Sweetgreen said the company is aware that Chipotle filed the lawsuit but declined to comment on pending litigation.
As Sweetgreen investors fret over the chain’s ability to become profitable, shares of the company have fallen 19% in 2023, dragging its market value down to $768 million.
Chipotle, on the other hand, has seen strong sales despite macroeconomic concerns. Its stock has climbed 22% in the same period, giving the fast-casual giant a market value of $46.8 billion. More

Jeep is updating its flagship Wrangler SUV with more capability, technology and features.
The Ford Bronco has been gaining momentum with off-road buyers.
A key differentiator attracting new customers to the Wrangler is a plug-in hybrid electric version, or PHEV, that the brand calls “4xe.”

2024 Jeep Wrangler Rubicon X 4xe

Jeep is updating its flagship Wrangler SUV with more capability, technology and features as it battles for off-road buyers against Ford’s newer Bronco.
The 2024 Jeep Wrangler features an evolutionary exterior design, which is typical for the quintessential SUV, and a redesigned interior that includes additional safety, convenience and tech features such as a 12.3-inch center control screen.

“Today, we are raising the bar once again by combining the most capable Wrangler to date, with more technology, comfort and safety features,” Jeep CEO Christian Meunier, said in a release pegged to the vehicle’s reveal Wednesday at the New York International Auto Show.
In addition to the interior upgrades, the 2024 Wrangler will offer additional off-road features such as larger tires and an 8,000-pound-capacity warn winch. It also adds many additional safety features and new roof options similar to what Ford’s Bronco has offered since it arrived to market in 2021.

2024 Jeep Wrangler Rubicon 392 (left) and Wrangler Rubicon X 4xe

Jeep, specifically with the Wrangler, has long dominated the off-road SUV segment. Many competitors from General Motors, Ford Motor and others have come and gone, but the Wrangler has remained the industry leader.
However, the Ford Bronco has been gaining momentum — following some launch and supply chain problems. Ford sold 117,057 Broncos last year. That compares with 181,409 Jeep Wranglers sold. The sales gap between the two significantly narrowed during the first quarter of this year, however, to fewer than 2,000 vehicles.
A key differentiator attracting new customers to the Wrangler is a plug-in hybrid electric version, or PHEV, that the brand calls “4xe,” a play on the brand’s “4×4” off-road reputation combined with electrification.

2024 Jeep Wrangler interior

The Wrangler 4xe has been the bestselling PHEV in the U.S. for the past two years, according to the company. The automaker hopes to further expand those sales buy offering 4xe on a lower-priced model called the Wrangler Sport S.
“I think we shocked the world a little bit with Wrangler being the No. 1 selling plug-in hybrid now two years in a row,” Jim Morrison, head of Jeep in North America, said during a media event ahead of the SUV’s reveal. “For us, I’m pretty sure that competition didn’t see that coming. But it’s a really good Jeep, and it’s electrified.”
The 2024 Jeep Wrangler will be available in Sport, Willys, Sahara, High Altitude, Rubicon and Rubicon 392 models. Ordering is open now, and vehicles will start to arrive in U.S. Jeep dealerships later in 2023, the company said.
A Jeep spokesman said pricing for the 2024 Wrangler will be announced closer to the vehicle’s launch. Current Wrangler starting prices range from about $31,000 for an entry-level model to more than $82,000 for a V-8-powered Rubicon 392 model.
Jeep is an important part of parent company Stellantis’ electrification plans, which include offering an “electrification” option on the entire lineup by the end of 2025. The company is targeting that 50% of Jeep sales will be all-electric in the U.S. — and 100% in Europe — by 2030.
Stellantis is investing more than 30 billion euros ($32.7 billion) through 2025 in electrification and software to hit the company’s target to sell 5 million all-electric vehicles by 2030, including all passenger car sales in Europe and 50% passenger cars and light-duty trucks in the U.S.

2024 Jeep Wrangler Willys More

HBO’s push into original content was spurred by the threat of Blockbuster disrupting its business model.
Two small bets placed on “Dream On” and “The Larry Sanders Show” in the early 1990s demonstrated to HBO leadership that adult original series could flourish.
HBO developed on-demand technology to differentiate itself from network TV and fight off Blockbuster.

It’s well documented that Blockbuster’s video rental dominance spurred the launch of Netflix. What’s less known is it was also the catalyst for HBO’s pivot toward original programming, according to former HBO and Time Warner CEO Jeff Bewkes.
HBO, which stands for Home Box Office, centered its original consumer proposition around bringing unedited theatrical movies to people’s living rooms. Debuting in 1972, HBO charged a monthly fee to allow consumers to see full feature-length movies at home without commercials. While other premium networks came along offering similar products, such as Showtime, Encore and Starz, HBO continued to add subscribers through the 1980s by offering movies along with a small smattering of live boxing, comedy specials and concerts.

The first Blockbuster opened in 1985. Through the late 1980s, Blockbuster undercut HBO’s business proposition. Consumers now had another way to watch uncut, commercial-free movies in the house, and now they could do it on demand. HBO only broadcast one movie at a time. Blockbuster offered thousands of movies. Movie studios viewed the rental market as a booming industry and offered Blockbuster its films six months ahead of HBO’s window.

Getty Images

“Movies were our No. 1 selling point,” said former HBO and Time Warner Chief Executive Officer Jeff Bewkes, who spoke to CNBC as part of a digital documentary on the history of HBO. “We’re sitting at HBO saying, ‘We’re screwed.’ Our No. 1 reason why people want to subscribe to HBO is now being taken by Blockbuster. What are we going to do?”
HBO, at the time led by Michael Fuchs, decided the answer was original programming. With only a few million dollars to spend, Fuchs placed two small bets on two original comedy series: “Dream On,” which premiered in 1990, and “The Larry Sanders Show,” which arrived in 1992.
“That pretty much shot our budget,” said Bewkes, who started working at HBO in 1979 and ran the network from 1995 to 2002. He later became CEO of Time Warner, the parent company of HBO. “We called it the best hour on TV. But I used to tweak Michael [Fuchs] about it, ‘Yeah, the best hour on TV — it literally is almost only one hour because we only had like 10 half-hours a year of ‘Dream On’ and ‘Larry Sanders.’ We had 10 hours of serious programming. We’d be repeating stuff to the point of nausea.”
While HBO had dabbled in original content before, including launching Jim Henson’s “Fraggle Rock” in 1983, “Dream On” and “Larry Sanders” were HBO’s first two adult hits. Both shows lasted for six seasons and ushered in HBO’s golden age of original programming, setting the stage for “Sex and The City,” “Oz” and “The Sopranos,” which all first aired in the late 1990s while Bewkes was HBO’s CEO.

Tony and Carmela Soprano.
Source: HBO | YouTube

Even after “The Sopranos” debuted, HBO still faced a dilemma over how much to invest in original shows. HBO’s TV schedule was always shifting, based on the length of feature films. While network shows always aired at a set time, HBO didn’t have that luxury. It also didn’t have consistent lead-in shows to boost the audience for new programming, as NBC famously constructed with its Thursday “Must See TV” featuring shows including “Seinfeld,” “Friends,” “Mad About You” and “ER” during the 1990s.
HBO tackled Blockbuster’s “on demand” advantage and differentiated itself from network TV by building technology that made past episodes available to subscribers. HBO On Demand first began in 2001, allowing subscribers to catch up on previous seasons of shows and build episodic larger audiences for episodic series.

Jeffrey Bewkes, former chief executive officer of Time Warner Inc. and HBO.
Christophe Morin | Bloomberg | Getty Images

“It allowed us to do long form,” said Bewkes. “It gave us the ability to make completely different stuff. Now we can make series like ‘Band of Brothers,’ ‘Sopranos’ — something where it’s sequential. If you didn’t watch the show last week, you could watch it this week.”
Blockbuster ended up being the company that couldn’t recover from disruption. It filed for bankruptcy in 2010. AT&T acquired Time Warner in 2018. Renamed WarnerMedia, AT&T divested the unit in a merger with Discovery Communications last year forming Warner Bros. Discovery.
Had HBO’s early investments in original programming not hit, Bewkes acknowledged he’s not sure what HBO would have done to fight off Blockbuster.
“Thank God those shows [hit],” Bewkes said. “If they didn’t hit, I don’t know what the hell would have happened.”
Disclosure: NBCUniversal is the parent company of CNBC.
WATCH: Full interview with former Time Warner CEO Jeff Bewkes about the evolution of HBO More

An upcoming Ram electric pickup truck from Stellantis will offer up to 500 miles of driving range when fully charged.
That range would top Ram’s current gas-powered 1500 full-size trucks as well as all-electric pickups currently available such as GMC’s Hummer EV, Ford’s F-150 Lightning and Rivian’s R1T.
Stellantis executives said that while the 2025 Ram 1500 REV won’t be first to market, it will offer leading capabilities for truck owners.

2025 Ram 1500 REV electric pickup truck

NEW YORK — An upcoming Ram electric pickup truck from Stellantis will offer up to 500 miles of driving range when fully charged, the automaker said Wednesday as it officially revealed the vehicle.
That range would top Ram’s current gas-powered 1500 full-size trucks as well as all-electric pickups currently available such as GMC’s Hummer EV, Ford’s F-150 Lightning and Rivian’s R1T. Tesla has said its Cybertruck, which is expected later this year, would be capable of up to 500 miles of EV range.

“Ram is one of the most important pillars of our business,” Stellantis CEO Carlos Tavares said Wednesday during the truck’s unveiling at the New York International Auto Show. “We will be able to compete, if not win the battle. It’s all about performance. It’s all about functionalities. It’s all about being competitive.”
Stellantis executives said that while the 2025 Ram 1500 REV won’t be first to market when it becomes available for sale, expected to be late next year, it will offer leading capabilities for truck owners.
However, the expected 500-mile range for the truck comes with an extremely large 229 kilowatt-hour battery pack — bigger than any all-electric pickup truck that’s currently available or expected from an established automaker. A standard 168 kilowatt-hour battery pack has a targeted range of up to 350 miles, the automaker said.
“We are delivering an electric pickup truck when we should, because for electrification being first actually might not be the best,” Ram CEO Mike Koval Jr. said during the event. “The Ram 1500 REV lineup will give our customers options depending on how they use their truck.”

2025 Ram 1500 REV electric pickup truck

Ram said both battery pack sizes will be able to add up to 110 miles of range in approximately 10 minutes with 800-volt DC fast charging.

The Ram 1500 REV will offer performance specifications that are in line with or better than its competitors, including towing of up to 14,000 pounds, payload of up to 2,700 pounds and class-leading storage in its front trunk, or “frunk.”
Other targeted performance figures include a 0-60 mph time of 4.4 seconds, 654 horsepower and 620 foot-pound of torque, and up to 24 inches of water fording. It also will be capable of vehicle-to-vehicle, vehicle-to-home and vehicle-to-grid bidirectional charging.

2025 Ram 1500 REV electric pickup truck

The vehicle’s exterior, which was revealed during a Super Bowl ad, resembles the current gas-powered models more than a concept version of the truck that was revealed in January — and largely well-received. It is built on Stellantis’ new “STLA Frame” designed specifically for full-size electric vehicles featuring a body-on-frame design.
“The Ram 1500 REV is built on what our customers know and love … just now electrified,” Koval said. “Now the face of Ram’s all-new electric light-duty is instantly recognizable, but also instantly forward.”
Ram did not announce pricing for the 1500 REV, which will be available in five trims, including Tradesman, Big Horn/Lone Star, Laramie, Limited and a new trim called Tungsten.
Pricing of electric vehicles, especially pickup trucks that require large batteries, has been a moving target for automakers amid increases in commodity costs and changing market conditions.
Ram reconfirmed Wednesday that an extended-range gas-electric version of the pickup with even more range, called the Ram 1500 XR, will launch after the all-electric version of the pickup truck.
The company on Wednesday also reopened reservations for the Ram 1500 REV. It had closed the program days after opening it following the brand’s Super Bowl ad.

Ram 1500 Revolution BEV electric concept truck
Stellantis More