Raphael Stevens

Netflix has been reaching out to broadcasters in hopes of one of them producing the NFL games it agreed to stream on Christmas Day, according to people familiar with the matter.
Netflix has been in touch with the broadcasters that currently air NFL games, including Disney’s ESPN, Comcast’s NBCUniversal and Paramount Global’s CBS Sports, according to people familiar.
The NFL games — two slated for 2024 and at least one in the following years — are Netflix’s first real foray into live sports.

Brock Purdy #13 of the San Francisco 49ers prepares to take a snap in the first quarter against the Kansas City Chiefs0 during Super Bowl LVIII at Allegiant Stadium on February 11, 2024 in Las Vegas, Nevada. 
Michael Reaves | Getty Images

Netflix is trying to get ready for some football.
The streaming giant has been reaching out to broadcasters this week in the hopes of finding a partner to produce the NFL games it will air on Christmas Day this year, according to people familiar with the matter. Netflix will show two games on Christmas Day this year, followed by at least one matchup in both 2025 and 2026, the company announced last month.

This is Netflix’s first real foray into traditional live sports, driven by the company’s ambitions to grow its advertising tier. The company signed a deal earlier this year with WWE to be the home for its live “Raw” events, but Netflix dubbed that deal as “sports entertainment.” Unlike WWE, Netflix’s deal for Christmas NFL games doesn’t come with a full production team. That’s left the streamer looking for help.
Netflix has been in touch with the broadcasters that currently air NFL games, including Disney’s ESPN, Comcast’s NBCUniversal and Paramount Global’s CBS Sports, said the people familiar, who asked not to be named because the discussions have been private. Disney won’t produce the games because it already has college football obligations the same day, two of the people said.
In-depth discussions haven’t begun with the other broadcasters, but Netflix’s options may be somewhat limited.
Fox and CBS Sports already produce various games in different regions each week, which could make taking on additional games for Netflix a burden, some of the people said.
There’s also competition to consider.

Amazon inked a deal with NBCUniversal to produce its NFL games before its first season of “Thursday Night Football” in 2022, but there may be more resistance among current NFL partners to help out Netflix, according to people familiar with the matter. That’s because Netflix could be auditioning as a future long-term media rights partner for NFL games in place of a legacy media company, such as Paramount, Fox or NBC.
The NFL has an out clause in its current media contracts that allows it to select new media partners after the 2029-30 season.
Representatives for Netflix, the NFL, NBCUniversal, CBS, ESPN and Fox declined to comment.

Welcoming Netflix

Netflix announced its entry into the NFL in mid-May ahead of its Upfront presentation, when it tried to woo advertisers for its burgeoning ad-supported platform. Netflix said last month it has reached 40 million global active users for its advertising tier, which costs $6.99 per month in the U.S. and debuted in November 2022.
In May, co-CEO Ted Sarandos told CNBC that the NFL was the right fit for Netflix because it matched the streamer’s event strategy — effectively allowing Netflix to own the day. Netflix will pay the NFL roughly $75 million per game, CNBC previously reported.
For the NFL, Netflix represents the chance to reach a global, younger audience. There’s also the potential to lay the groundwork for Netflix to become a future bidder on a larger package of games.
The NFL signed long-term deals in 2021 with Disney, Paramount, NBCUniversal, Fox and Amazon for its five primary packages of games.
While there is some trepidation among current media partners to produce games for a potential rival, pressure from the league — and a hefty paycheck from Netflix — could convince broadcasters to strike a deal, according to people familiar with the matter.
“There aren’t that many players in the space who are capable of doing this at a level that you would want to trust when you’re launching as a new partner with a league as important as the NBA or the NFL,” said Shirin Malkani, co-chair of the sports industry group at law firm Perkins Coie, adding that the production side “can be a big hole for streaming partners.”
Netflix and the league are looking to mirror the partnership that Amazon’s Prime Video lined up with Comcast’s NBC Sports for “Thursday Night Football” games.
While NBC Sports’ Fred Gaudelli produced the 2022 season of “Thursday Night Football,” Amazon appointed Mark Teitelman, one of its own employees, to the role of lead game producer in 2023.
Amazon produces all of its pregame, halftime and postgame coverage, but NBC Sports handles the extensive production work that goes into an NFL game, and employs the vast majority of those workers.
Netflix is interested in finding a similar partner, according to people familiar with its plans.
If a deal can’t be made with one of the incumbents, Netflix could find other options with third-party producers. Endeavor Group Holdings’ IMG is the production partner for Major League Soccer, which is offered through Apple.
“It’s not easy to do an NFL game at a level that people are used to watching, which is a very high level and well produced,” said Jonathan Miller, chief executive of Integrated Media, which specializes in digital media investment. “But there’s a number of options out there that can pull it together without [Netflix] having a fully staffed sports division.”

Shifting to streaming

Amazon Prime Video was the first streamer to obtain exclusive rights to NFL games as the league pushed to broaden its media partners and have more streaming offerings to widen its audience.
Amazon reached its deal to carry “Thursday Night Football” in 2021 in conjunction with the rest of the media rights deals for the NFL — an 11-year media rights agreement worth over $100 billion, with an opt out clause at the seven-year mark.
Given the recent NBA media rights negotiations, which are beckoning top dollar from various media companies, many in and around the industry expect the NFL to exercise the clause and look for new partners.
Since the NFL has inked its deal, streaming services for Comcast, ESPN and Paramount have begun to simultaneously stream games, and in some cases, hosted games exclusively. Alphabet’s YouTube TV is also the new home of the “Sunday Ticket” package of games.
Sports, particularly the NFL, have been the glue holding the traditional TV bundle together — and have also proved to be a boost to streaming. NBCUniversal said in April its exclusive NFL wild-card game on Peacock helped to add, and then retain, more customers than expected.
The league has been vocal in its push to add more streaming partners in an effort to widen its audience.
That was the thinking behind the deal with Netflix to stream these Christmas Day games.
When the “Sunday Ticket” rights negotiations were underway, NFL Commissioner Roger Goodell told CNBC the longtime package offered only by DirecTV would move to streaming.
“I think that’s best for consumers at this stage,” Goodell said at the time.
Disclosure: Comcast is the parent company of NBCUniversal and CNBC.

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Stellantis expects to grow sales of Jeep vehicles to roughly 1.5 million units globally by 2027.
It plans to expand its vehicle nameplates from 10 to 13 by 2027, Jeep CEO Antonio Filosa said Thursday during Stellantis’ investor day at its North American headquarters.
Jeep is expected to roll out the recently revealed Wagoneer S EV later this year, followed by a Jeep Wrangler-inspired off-road vehicle called the Recon.

 Jeep Wagoneer S Trailhawk EV concept
Michael Wayland / CNBC

AUBURN HILLS, Mich. – Stellantis expects to grow sales of Jeep vehicles globally by 50% in the next three years, as the automaker attempts to leverage the quintessential American SUV brand for increased profits.
The trans-Atlantic automaker on Thursday said it will expand production and sales to roughly 1.5 million units by 2027. To do so, the company will grow its vehicle and powertrain offerings.

“The Jeep brand can be a local hero anywhere,” Stellantis CEO Carlos Tavares told investors Thursday during Stellantis’ investor day at its North American headquarters. “We are going to reinforce the manufacturing footprint of Jeep.”
Jeep plans to expand its vehicle nameplates from 10 to 13 by 2027, Jeep CEO Antonio Filosa said. Those vehicles will include 27 different powertrain offerings – traditional internal combustion engine, hybrid, extended-range/plug-in hybrid electric and all electric. That’s up from 18 currently.   
“We want to grow,” said Filosa outlining three pillars of its strategy: customer choice of powertrains, increasing market coverage and globalization.
Much of the expected growth is targeted in North America, where the brand aims to top sales of 1 million units by 2027, up from roughly 700,000 last year.

Arrows pointing outwards

Jeep is expected to roll out the recently revealed Wagoneer S EV later this year, followed by a Jeep Wrangler-inspired off-road vehicle called the Recon. A new mainstream unnamed midsize SUV is planned for next year to replace the discontinued, gas-powered Cherokee SUV. Jeep is also planning plug-in versions of its current Wagoneer and Grand Wagoneer large SUVs.

A roughly $25,000 Jeep Renegade EV is expected by 2027, according to the company’s investor deck. Tavares announced such a vehicle last month, saying it would come to the U.S. “very soon.”

The New York Stock Exchange welcomes The Jeep Brand (NYSE: STLA) to the podium, on May 31, 2024. To honor the occasion, Antonio Filosa, Chief Executive Officer, joined by Lynn Martin, President, NYSE Group rings The Opening Bell®.

Offering a new EV for around $25,000 has long been a target for automakers such as Stellantis, Tesla and others. The importance of such a vehicle has grown more apparent as Chinese automakers such as BYD and Nio grow their sales of less-expensive EVs outside of China.
Through the first quarter of this year, Jeep’s sales totaled 31,750, up 47% from the same period a year earlier. The brand sold nearly 643,000 vehicles last year, down 6% from 2022. Jeep represented 42% of Stellantis’ U.S. sales in 2023.

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Tyson Foods has suspended its CFO, John R. Tyson, after he was charged with driving while intoxicated in Arkansas.
Tyson was previously arrested two years ago for falling asleep in the wrong house.
He is the great-grandson of the meat giant’s founder, John W. Tyson.

John R. Tyson speaks on stage during The Fight for Food: Value Chains and Partnerships at The 2022 Concordia Annual Summit in New York on September 21, 2022.
Leigh Vogel | Getty Images

Tyson Foods said on Thursday it has suspended its chief financial officer, John R. Tyson, after he was charged with driving while intoxicated in Arkansas. The company said it has appointed Curt Calaway as its interim CFO.
Tyson, 34, was arrested at 1:32 a.m. on Thursday and released nine hours later, according to Washington County Detention Center. Tyson Foods is headquartered in Springdale, Arkansas.

In 2022, two months after being named CFO of the meat giant, Tyson was arrested after becoming intoxicated and falling asleep in the wrong house. A week later, he apologized to investors for the incident on the company’s earnings call. Tyson plead guilty to the charges.
Tyson is the son of the company’s chairman, John H. Tyson, and the great-grandson of founder John W. Tyson. He joined the company in 2019 after working in investment banking, private equity and venture capital. His appointment raised some eyebrows on Wall Street. More

Ford Motor is ending a controversial electric vehicle dealership program that initially asked store owners to invest upward of $1 million to sell EVs.
The “EV-certified” program was announced in September 2022 by Ford CEO Jim Farley in response to high demand for the vehicles.
Amid slower-than-expected demand, Ford will open EV sales to all of its dealers.

An electric Ford truck is displayed during the Electrify Expo D.C. in Washington, D.C., on July 23, 2023.
Nathan Howard | Getty Images

Ford Motor is ending a controversial electric vehicle dealership program that initially asked store owners to invest upward of $1 million to sell EVs.
The “EV-certified” program was announced in September 2022 by Ford CEO Jim Farley amid high demand for the vehicles, low supplies and industry-wide optimism for all-electric cars and trucks. That optimism, however, has not panned out as expected.

EV sales for Ford and other automakers are growing but at a far slower pace than many expected. That’s led to automakers delaying or canceling future electric vehicles and investments.
“The world has changed,” Marin Gjaja, chief operating officer of Ford’s Model E electric vehicle business, said Thursday during a media briefing. “The growth has slowed down.”
Gjaja said the Model e Dealership Program, which included about half of Ford’s 2,800 U.S. dealers, “is being sunset” as the market undergoes changing conditions and amid conversations with dealers. The company had faced lawsuits from dealers over the program.
Instead, Ford will open EV sales to all of its dealers in an attempt to grow sales of its all-electric cars and trucks. 
“It allows us to open EV sales and service to more dealers,” Gjaja said. “We think it’s going to help us grow our sales.”

Dealers will need to make some investments for charging, training and other EV-related expenses, but not as much as they did under the prior program, which included expected investments of between $500,000 and $1.2 million.
Gjaja said those initial estimates were high. He said dealers who participated in the full program invested about $600,000 on average.

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Abercrombie & Fitch has transformed itself from a dying mall brand into a Wall Street darling after spending years revamping its product assortment, overhauling its supply chain and rebranding as an inclusive retailer. 
Shares of the apparel company have surged over the last year as it posted quarter after quarter of sales growth and profits that consistently topped Wall Street’s expectations. 

Under the direction of CEO Fran Horowitz, Abercrombie has become one of the biggest winners in retail, but its turnaround was years in the making and far from an overnight success. 
Over the last seven years, Horowitz changed Abercrombie’s product assortment and moved the company away from loud branding and sex appeal, critical components of the retailer’s past playbook. 
She also overhauled the retailer’s store footprint by closing hundreds of locations and changing the shops to look more modern, inviting and better suited to its new target customer. 
Perhaps most importantly, Abercrombie rebranded itself into a more equitable retailer after it earned a reputation for racism, toxicity and exclusivity. 
To learn more about Abercrombie’s comeback and what’s ahead for the retailer after a year of meteoric growth, check out the video above. More