More stories

  • in

    NFL will select new Sunday Ticket partner by fall, Commissioner Roger Goodell says

    Roger Goodell spoke with CNBC’s Julia Boorstin in an exclusive interview Friday.
    Goodell said the NFL will select a new Sunday Ticket partner by the fall.
    Amazon, Apple and Disney have all placed bids to be the NFL’s new exclusive streaming provider for Sunday Ticket, CNBC has reported.
    Goodell confirmed NFL+ will launch in time for this season.

    NFL Commissioner Roger Goodell during the NFL Football match between the Miami Dolphins and Indianapolis Colts on October 3rd, 2021 at Hard Rock Stadium in Miami, FL.
    Andrew Bershaw | Icon Sportswire | Getty Images

    The National Football League plans to select a streaming service as its new Sunday Ticket partner and will choose a winner by the fall, Commissioner Roger Goodell said Friday.
    “I clearly believe we’ll be moving to a streaming service,” Goodell told CNBC’s Julia Boorstin in an exclusive interview at the Allen & Co. Sun Valley conference in Idaho. “I think that’s best for consumers at this stage.”

    Apple, Amazon and Disney, which owns ESPN+, have all submitted bids to be the league’s exclusive Sunday Ticket distributor, CNBC reported last month. Goodell confirmed discussions have been going on for more than a year to find a new partner to replace DirecTV, whose contract with the league ends after this season.
    Sunday Ticket is the only way fans can watch live NFL Sunday afternoon games outside of what’s broadcast in their local markets on CBS and FOX. DirecTV paid $1.5 billion for annual rights. The NFL now wants more than $2 billion a year, CNBC reported.
    Contractual language with CBS and Fox would prevent any streaming service from charging fans significantly less than the current $300 cost for Sunday Ticket, CNBC reported.
    DirecTV isn’t bidding to renew the package but is willing to partner with the winner, CNBC reported. In its current arrangement with the NFL, DirecTV mandates customers who sign up for Sunday Ticket also sign up for its pay-TV service, with rare exceptions. That requirement will go away with a new streaming service partner, potentially opening up Sunday Ticket to a much wider audience.
    Goodell noted that many people who watch games on a streaming service don’t subscribe to traditional pay TV, allowing the league to capture a wider audience by moving Sunday Ticket to a digital provider.

    “We really believe these new platforms give us an ability to innovate where we are today,” said Goodell. “It obviously makes it more available to our consumers, particularly the younger demographic, which is one that we really want to get to. I think this will make it more accessible for fans. I think it will be a better experience for fans.”

    NFL+ confirmed

    Goodell also confirmed the league will be launching its own streaming service, called NFL+, in time for the upcoming season in September. He didn’t provide details on pricing or what will be available on the service, but he emphasized NFL+’s content will likely improve over time.
    “It’s really in an early stage,” Goodell said. “I think over the years it will continue to grow. It will be an important strategy for us going forward.”
    Sports Business Journal reported in May that NFL+ is expected to launch later this month.
    WATCH: NFL Commissioner Roger Goodell speaks to CNBC’s Julia Boorstin at Sun Valley

    WATCH LIVEWATCH IN THE APP More

  • in

    WWE's Vince McMahon paid more than $12 million to settle sexual misconduct allegations, report says

    WWE’s Vince McMahon paid $12 million to four women over the last 16 years., the Wall Street Journal reported.
    WWE announced last month that McMahon was stepping back from his role as CEO and chairman − but retaining his responsibilities related to the company’s creative content.

    Vince McMahon attends a press conference to announce that WWE Wrestlemania 29 will be held at MetLife Stadium in 2013 at MetLife Stadium on February 16, 2012 in East Rutherford, New Jersey.
    Michael N. Todaro | Getty Images

    WWE’s Vince McMahon paid more than $12 million to four women over the past 16 years to suppress allegations of sexual misconduct and infidelity, according to a report by the Wall Street Journal.
    The women were all formerly affiliated with World Wrestling Entertainment, the Journal reported, citing people familiar with the agreements and documents. The newspaper reported in June that WWE’s board was investigating a secret $3 million settlement McMahon paid to a paralegal he allegedly had an affair with.

    In its report Friday, the Journal reported three additional hush-money payments between 2006 and 2018: one for $7.5 million to a former wrestler who alleged McMahon coerced her into giving him oral sex and later declined to renew her contract after she resisted subsequent sexual encounters; another for $1 million to a woman who had worked as a WWE contractor and said she received unsolicited nude photos from McMahon; and a third in the amount of about $1 million to a former manager who worked with McMahon for a decade.
    WWE did not respond to CNBC’s request for comment on the latest allegations.
    WWE announced last month that McMahon was stepping back from his role as CEO and chairman − but retaining his responsibilities related to the company’s creative content − pending an investigation into his alleged misconduct. His daughter, Stephanie McMahon, was named interim CEO.
    “I have pledged my complete cooperation to the investigation by the Special Committee, and I will do everything possible to support the investigation,” McMahon said in the release at the time. “I have also pledged to accept the findings and outcome of the investigation, whatever they are.”
    WWE’s board is investigating McMahon’s deals with the wrestler and the former paralegal, the Journal reported. The WWE board is also investigating allegations against WWE executive John Laurinaitis, who used to wrestle under the name Johnny Ace.

    The investigation, which began in April, was set off by several anonymous emails that threatened to reveal details of the settlement between McMahon and the former paralegal, the Journal reported.
    WWE’s share prices were down about 1% at $64.21 Friday.
    Read the full report by the Wall Street Journal.

    WATCH LIVEWATCH IN THE APP More

  • in

    U.S. scientists are enrolling nearly 40,000 patients in 4-year $1.2 billion study of long Covid

    The U.S. government is rolling out a massive study of long Covid in an effort to understand the mysterious condition.
    The study, Recover, aims to complete enrollment of nearly 40,000 people by year-end.
    The National Institutes of Health also plans to launch clinical trials on potential treatments in coming months.
    However, critics say the study’s rollout is moving too slowly.
    Scientists, physicians and public health officials are worried millions of Americans may have long-term health complications from Covid-19.

    A healthcare worker administers a Covid-19 test at testing site in San Francisco, California, U.S., on Monday, Jan. 10, 2022.
    David Paul Morris | Bloomberg | Getty Images

    The National Institutes of Health is rolling out one of the largest studies in the world to understand long Covid in a high-stakes effort to find definitive answers about a multitude of seemingly unrelated and sometimes debilitating symptoms that have plagued patients and confounded physicians.
    The $1.15 billion taxpayer-funded study, called Recover, aims to enroll nearly 40,000 people by the end of this year. It will follow those participants over four years, comparing people with Covid to those who’ve never had it, with the goal of identifying all the long-term symptoms and finding out how the virus is causing them. The Patient-Led Research Collaborative said there were more than 200 long Covid symptoms across 10 organ systems, according to a study published last year in The Lancet.

    It’s a massive undertaking, and expectations are high. The size of the budget, breadth, depth and scope of the study are rarely seen in scientific studies.
    The study’s conclusions could play a pivotal role in developing diagnostic tests and finding treatments for patients who remain sick months after contracting Covid-19. If the scientists can produce clinical definitions of the various long-term illnesses associated with the virus, patients will stand on firmer ground when trying to convince health insurers to cover their treatments and getting disability claims approved.
    Dr. Walter Koroshetz, who serves on Recover’s executive committee, said the study has been designed to investigate long Covid from every possible angle and provide definitive answers. But Koroshetz acknowledged that even a study this size will face major challenges in delivering on such ambitious goals.
    “I’m worried that this is not an easy answer. The post-infectious persistent symptoms that go on to chronic fatigue syndrome have defied anybody’s explanation,” said Koroshetz, the director of the National Institute of Neurological Disorders and Stroke.

    Enrollment and clinical trials

    The Recover study aims to complete enrollment of more than 17,000 adults by September and 20,000 children by the end of the year, according to Dr. Stuart Katz, who is coordinating the nationwide rollout of the Recover study at its central hub at New York University Langone Health. The study will have research teams at more than 30 universities and medical institutions across the U.S.

    As of this week, 5,317 adults and 269 children have been enrolled, taken together about 15% of the total population of nearly 40,000, according to Katz, a cardiologist who studies congestive heart failure. Katz caught Covid in December 2020 and suffered symptoms for about a year.
    The National Institutes of Health is also planning to launch a “suite of clinical trials” on possible treatments in the coming months, according to Dr. Gary Gibbons, director of the National, Heart Lung and Blood Institute. Gibbons said NIH is in active discussions with the pharmaceutical industry on studying whether antivirals and other interventions can prevent or treat long Covid.
    “These are exploratory with companies that have agents that may go before the FDA for approval,” Gibbons said. “There’s an interest both for public-private collaboration in this space and and we’re very hopeful that something will emerge in the next several months.”
    However, Gibbons said NIH will likely need more funding from Congress for the trials given scope and complexity of the problem.
    “We would anticipate to really fully do the clinical trial portfolio that patients with long Covid deserve, it probably will exceed $1.15 billion initial allocation that Congress awarded,” Gibbons said.

    Unanswered questions

    While the public uses long Covid for shorthand, the scientific name is post-acute sequelae of Covid, or PASC. Researchers believe it is not a single disease but several distinct illnesses affecting many organ systems.
    Scientists still do not know how the virus triggers such a wide spectrum of symptoms that can persist months after the initial infection, why some of these symptoms show up in some patients but not in others, or what exactly the risk factors are for developing them.
    “Everyone’s immune system is different, so everyone’s going to respond to a novel virus in a different way,” said David Putrino, a physiotherapist and director of rehabilitation innovation at Mount Sinai Health System in New York City. Putrino has helped treat long Covid patients since the early days of the pandemic in 2020. Mount Sinai’s Icahn School of Medicine is one the institutions participating in Recover.
    Putrino said many patients come to Mount Sinai for treatment suffer cognitive impairments that are similar to traumatic brain injuries, commonly referred to as brain fog, in which they struggle with speech fluency and making plans to deal with life’s daily challenges. They can also often have abnormal heartbeat, tingling sensations, painful cramps and feelings of anxiety.
    Any form of physical or mental exertion worsen these symptoms. As a consequence, about 60% of the long Covid patients at Mount Sinai struggle to continue at their jobs, Putrino said. They either had to shift to part-time work from full time, retire early or became unemployed. Almost all of the patients report a deterioration in their qualify of life due to their symptoms, he added.
    The nation’s health agencies do not yet know exactly how many people suffer from the condition. The answer to that question, which Recover hopes to shed more light on, could have major implications for the nation’s health and economy.
    The Centers for Disease Control and Prevention, in a study that examined nearly 2 million patient records, found that one in four Covid survivors ages 18 to 64 and one in five of those ages 65 and older developed a health problem that could be related to long Covid. If the findings prove accurate for the broader population, millions of people in the U.S. may have some form of the condition.
    People who survived the virus were twice as likely to develop respiratory conditions or a pulmonary embolism, according to the CDC study. The authors said long Covid can impair a person’s ability to work which could have economic consequences for their families.
    The severity and duration of patients’ long Covid symptoms vary widely, Katz said. The population of people permanently disabled by long Covid is likely a fraction of those who have some form of the condition, he said. Still, there’s likely a very large number of people who have a disability from long Covid given the reality that at least 87 million people in the U.S. have contracted the virus at some point, Katz said.

    How Recover will work

    With so many unanswered questions, physicians don’t have a precise way to diagnose patients with long Covid. Treatments at this point are mostly managing symptoms, not addressing the underlying cause of the illnesses, Putrino said. Scientists need to define the different types of long Covid so they can tailor treatments to individual patients, he added.
    The challenge with diagnosing and treating patients with long Covid is that many of the symptoms are also associated with other diseases, said Katz. Recover contains control groups, people who have never had Covid, so scientists can define which symptoms are actually occurring more often in people who do have a history of infection, Katz said.
    All the participants in Recover will undergo a battery of lab tests, vital signs and physical assessments, as well as a survey of symptoms and underlying health conditions among many other questions at enrollment and at regular intervals throughout the study. Smaller populations of participants will undergo more intense evaluations that include electrocardiograms, brain MRIs, CT scans and pulmonary function tests.
    The scientists aim to identify clusters of symptoms associated with various abnormalities in the lab tests and uncover the mechanisms in the body causing those symptoms through advanced imaging, Katz said. Abnormalities found in lab tests, blood samples for example, that are associated with long Covid could serve as the basis for future diagnostic tests, he said.
    By defining the different types of long Covid, the study will also guide clinical trials by providing a clearer idea of what treatments might prove most effective at targeting the underlying causes.
    “Clinicians really need us to clarify what is the clinical spectrum, the definition of long Covid — that’s critical to treating it,” Gibbons said. “If you’re going to do a clinical trial, you really want to know that you might treat brain fog different from the cardiopulmonary symptoms,” he said.
    Recover will also analyze tens of millions of electronic patient health records and study tissue samples from autopsies of people who had Covid when they died. All of the Recover data will go into a database that investigators at sites across the country can use in research on specific aspects of long Covid that they can pitch to Recover’s leadership.
    Dr. Grace McComsey, the principal investigator for the Recover site at Case Western Reserve University in Cleveland, said the study design will allow her team to access a large pool of patient data that they otherwise wouldn’t have the time or resources to collect on their own. McComsey, an infectious disease expert who researched HIV before the pandemic, has submitted a concept with her team to look at how the virus is causing inflammation in patients.
    “You’ll be able to access a lot of data, lots of samples on patients that otherwise I can’t do from my own site. It will take me obviously a lot of time and a lot of resources that I don’t have,” McComsey said. “The huge amount of data and a huge amount of patients. I think it’s definitely a big plus in Recover.”

    Criticism of time frame

    However, the pace of the federal government’s efforts to address the long-term health impact of Covid has come under criticism. Some of the nation’s leading health experts described research into long Covid as “achingly slow,” according to a March report whose authors included several former members of President Joe Biden’s Covid transition team, including Zeke Emanuel.
    It’s been more than a year and a half since Congress OK’d $1.15 billion to study the long-term impact of Covid in December 2020. Francis Collins, NIH director at the time, announced in February 2021 the launch of a nationwide study. The following May, NIH awarded $470 million to New York University Langone to set up the observational part of the study led by Katz and his team.
    Koroshetz acknowledged the frustration with the pace of the research, but he said the study is designed through its size and scope to answer questions smaller studies cannot.
    “We put this together to not miss anything,” Koroshetz said. “It’s kind of like a battleship. That’s part of the problem.”
    Although Recover will follow participants for four years, researchers will publish their findings throughout the duration of study, Katz said. The first report, based on the initial assessment of participants, should publish shortly after enrollment is complete, he said.
    “In comparison with other large multisite studies, this was all done at breakneck speed because there was a recognition that there is an urgent public health need,” said Katz.
    Putrino said NIH-funded research is usually slow, risk averse and normally doesn’t lead to rapid implementation of treatments that help patients. He said NIH typically doesn’t invest in high-risk research because it doesn’t want to be perceived as gambling with taxpayer money. Putrino said his team applied for a Recover grant in December 2021 and haven’t heard back yet.
    He said NIH should act more like industry by moving quickly to invest in high-risk research that can lead to disruptive innovations.
    “The NIH has the capacity to follow a process similar to industry — it’s not typical but they can do it,” said Putrino, who was one of the authors on the March report that criticized the pace of the federal government’s long Covid efforts. “We need a high-risk investment right now,” he said.
    In April, President Biden directed Health and Human Services Secretary Xavier Becerra to develop a national research action plan on long Covid in collaboration with the secretaries of Defense, Labor, Energy and Veterans Affairs. HHS is supposed to have the plan ready next month, according to Biden’s directive.
    JD Davids, a patient advocate, said the NIH should model the federal response on long Covid after its success in researching and developing HIV treatments. That includes creating a central office at NIH with budgetary authority, similar to the Office of Aids Research, that develops a strategy every year with input from patients on how to use funds for research, said Davids, a member of the Patient-Led Research Collaborative.
    Koroshetz and Gibbons said Recover is moving as quickly as possible to get clinical trials on treatments started. “We’re not going to wait four years and then do the trials. We’re going to whatever rises to the top in terms of ideas,” Koroshetz said.
    Gibbons said NIH can’t provide a timeline right now on how long the clinical trials will take. Although NIH is soliciting concepts, it doesn’t have any finished plans for how the trials will proceed yet, said.
    “It’s probably not a satisfying answer, but we can only move at the pace of the science,” Gibbons said. “If you establish the protocol, you have to enroll participants and you have to let the protocol play out. We don’t have a protocol yet in hand.”

    CNBC Health & Science

    Read CNBC’s latest global health coverage:

    WATCH LIVEWATCH IN THE APP More

  • in

    Ford reports worst quarterly sales in China since onset of coronavirus pandemic

    Ford on Thursday said it sold 120,000 vehicles during the second quarter in Greater China, a roughly 22% decline from a year earlier.
    The sales decline was due to a resurgence of Covid-19 cases in the country and ongoing global supply chain problems.
    The results were the worst sales in Greater China for the automaker since the first quarter of 2020, when government Covid restrictions brought the country’s production to a standstill.

    Visitors walk past a Ford Escape Titanium at the Shanghai Auto Show in Shanghai on April 17, 2019.
    Greg Baker| AFP | Getty Images

    DETROIT – Ford Motor joined its crosstown rival General Motors in reporting its worst quarterly sales in China since the onset of the coronavirus pandemic, amid a resurgence of Covid-19 cases in the country and ongoing global supply chain problems.
    Ford said it sold 120,000 vehicles during the second quarter, a roughly 22% decline from a year earlier and its worst sales in Greater China since the fewer than 89,000 units it sold during the first quarter of 2020, when government-imposed Covid restrictions brought the country’s production to a standstill.

    In a release late Thursday, Ford said sales in June improved exponentially with easing of restrictions as overall sales exceeded 50,000 units, up 3% year over year and 38% month over month.
    “The pandemic’s resurgence in the past few months challenged us to overcome supply chain and logistics obstacles to positioning Ford for growth in the second half of the year,” said Anning Chen, president and CEO of Ford China, in statement.
    But there could still be challenges ahead. Mainland China’s daily Covid case count, including those without symptoms, has surged from a handful of cases to around 200 or 300 new cases in the last several days. The number of cities restricting local movement due to Covid more than doubled in a week to 11 as of Monday, up from five a week earlier, according to Ting Lu, chief China economist at Nomura.
    GM on Wednesday reported a 35.5% decline in its second-quarter sales in China to 484,200 vehicles, its lowest sales since 461,700 vehicles during the first quarter of 2020.
    –CNBC’s Evelyn Cheng contributed to this report.

    WATCH LIVEWATCH IN THE APP More

  • in

    Sepp Blatter and Michel Platini: Former heads of FIFA and UEFA cleared of corruption charges by Swiss court

    Blatter, who led FIFA for 17 years, is cleared of fraud by the Federal Criminal Court in the southern city of Bellinzona.
    Platini, a former France national team captain and manager, also acquitted of fraud.
    “I want to express my happiness for all my loved ones that justice has finally been done after seven years of lies and manipulation,” Platini says.

    Sepp Blatter and Michel Platini photographed on May 29, 2015. The two were once among the most powerful figures in world football.
    Michael Buholzer | AFP | Getty Images

    Former FIFA president Sepp Blatter and former UEFA president Michel Platini were both cleared of corruption charges by a Swiss court on Friday.
    Blatter, who led FIFA for 17 years, was cleared of fraud by the Federal Criminal Court in the southern city of Bellinzona.

    Platini, a former France national team captain and manager, was also acquitted of fraud.
    The two, once among the most powerful figures in world football, had denied the charges against them.
    Prosecutors had accused Blatter, a Swiss who led FIFA for 17 years, and Platini of unlawfully arranging for FIFA to pay the Frenchman two million Swiss francs (£1.7m) in 2011.

    Read more stories from Sky Sports

    The case meant Blatter ended his reign as FIFA president in disgrace and it wrecked Platini’s hopes of succeeding him after he was banned from football when the affair came to light.
    Blatter had said the payment followed a “gentlemen’s agreement” between the pair when he asked Platini to be his technical advisor in 1998.
    Platini worked as a consultant between 1998 and 2002 with an annual salary of 300,000 Swiss francs (£257,000) – the most FIFA could afford because of money troubles the organisation had at the time, Blatter had told the court.
    The rest of Platini’s one-million per year salary (£857,000) was to be settled at a later date, Blatter said.
    Motives for the payment were unclear, although the two men met in 2010 and discussed the upcoming elections for the FIFA presidency in 2011.
    When Blatter approved the payment, he was campaigning for re-election against Mohamed bin Hammam of Qatar. Platini, then president of UEFA, was seen as having sway with European members who could influence the vote.
    The payment emerged following a huge investigation launched by the US Department of Justice into bribery, fraud and money-laundering at FIFA in 2015, which triggered Blatter’s resignation.
    Both officials were banned from football for eight years in 2015 over the payment, although their bans were later reduced.
    Platini, who also lost his job as UEFA president following the ban, said the affair was a deliberate attempt to thwart his attempt to become FIFA president in 2015.
    Platini’s former general secretary at UEFA, Gianni Infantino, entered the FIFA race and won the election in 2016.
    Speaking following the verdict, Platini said: “I want to express my happiness for all my loved ones that justice has finally been done after seven years of lies and manipulation.”
    He added: “My fight is a fight against injustice. I won a first game.”

    WATCH LIVEWATCH IN THE APP More

  • in

    Cramer's lightning round: Gentex is a buy

    Monday – Friday, 6:00 – 7:00 PM ET

    It’s that time again! “Mad Money” host Jim Cramer rings the lightning round bell, which means he’s giving his answers to callers’ stock questions at rapid speed.

    Loading chart…

    Chegg Inc: “I don’t know what to make of Chegg. … To me, it seems like the bulls are going to win on this stock.”

    Loading chart…

    Loading chart…

    Moderna Inc: “I think that stock has now come down enough. I would want to own Moderna. I do like Pfizer more.”

    Loading chart…

    ONEOK Inc: “Keep it. … I think that’s a fantastic stock.”

    Loading chart…

    Gentex Corp: “I’m going to say buy Gentex. I’m starting to warm up to autos.”

    Loading chart…

    WATCH LIVEWATCH IN THE APP More

  • in

    Spirit again delays vote on Frontier deal to continue deal talks with budget airline and JetBlue

    Spirit Airlines is again delaying a shareholder vote set for Friday on its deal to merge with Frontier Airlines.
    Spirit says it will continue deal talks with both Frontier and with JetBlue Airways.
    JetBlue has been trying to acquire Spirit since April, two months after Frontier and Spirit announced their planned tie-up.

    A Frontier Airlines plane near a Spirit Airlines plane at the Fort Lauderdale-Hollywood International Airport on May 16, 2022 in Fort Lauderdale, Florida.
    Joe Raedle | Getty Images

    Spirit Airlines is again delaying a shareholder vote set for Friday on its deal to merge with Frontier Airlines, a win for competing suitor JetBlue Airways, which wants to buy Spirit outright.
    It is the third time Spirit has postponed the vote, which was originally scheduled for June 10. It was later pushed to June 28, but Spirit had delayed it until July 8 last week, a day before the vote.

    Spirit said Thursday it would now hold the vote on July 15 so it could continue deal talks with both airlines.
    The delays bode well for JetBlue Airways, which swooped in with a $3.6 billion all-cash offer to buy Spirit in April. Two months earlier, Frontier and Spirit announced a $2.9 billion cash-and-stock deal to combine into a discount behemoth.
    “We are encouraged by our discussions with Spirit and are hopeful they now recognize that Spirit shareholders have indicated their clear, overwhelming preference for an agreement with JetBlue,” JetBlue’s CEO Robin Hayes said in a statement after the latest delay.
    Spirit’s board repeatedly rejected JetBlue’s offers, including sweetened proposals, arguing it didn’t think regulators would sign off on the deal. JetBlue said both deals would face regulatory scrutiny, and Hayes said that Spirit’s board didn’t give JetBlue’s offers full consideration.
    It wasn’t clear if Spirit would have the shareholder support it needed to get the Frontier deal passed ahead of the last scheduled meeting, according to a person familiar with the matter.

    Frontier, which also sweetened its offer for Spirit, nearly doubling the cash portion to $4.13 a share, didn’t immediately comment on the latest vote delay.
    Spirit shares were up 2% in afterhours trading, while Frontier shares were down less than 1%. JetBlue was little changed.

    WATCH LIVEWATCH IN THE APP More