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evolution online game NEW YORK, Dec 12 (Reuters Breakingviews) - David Zaslav may rejoin the media M&A fray. The Warner Bros Discovery (WBD.O) , opens new tab boss is reorganizing his assets into two key divisions, further isolating the media company’s dying TV networks. It comes after rival Comcast (CMCSA.O) , opens new tab announced a full split. Something bigger may be in the offing. WBD said on Thursday it would smash together , opens new tab results from streaming service HBO Max with the studio behind movies like “Barbie”. Corporate restructuring is typically a mundane affair. But WBD’s stock popped 15%. More curiously, three banks - JPMorgan, Evercore and Guggenheim Securities - are advising on a humdrum accounting change. Combined with the hints that Zaslav has been dropping, it adds up to a potential reordering of the media landscape. The Financial Times reported , opens new tab in July that he was weighing strategic options. He mulled bidding for Paramount Global (PARA.O) , opens new tab . In November, after Donald Trump won the U.S. presidential election, he noted that a deal-friendly administration offered opportunities for consolidation. The industry could use it. Traditional television is in a world of pain. EBITDA at WBD’s division is set to crater 37% in 2026 from where it was five years prior, according to Visible Alpha. Comcast boss Brian Roberts took his cue early, announcing in November that he would spin out most of his company’s cable channels. WBD hasn’t gone as far, but Thursday’s move seems like a prelude. After all, there’s tempting value to unlock. The cable division could be worth 5 times its forecast EBITDA of over $7 billion in 2025, below peer Fox’s (FOXA.O) , opens new tab multiple to account for its lack of marquee sports. Put the streaming service’s predicted $1 billion of profit on 20 times, a discount to Netflix (NFLX.O) , opens new tab given its lower profitability. Finally, if Paramount Pictures’ mooted sale is a yard-stick, pegged by Morgan Stanley analysts at about 18 times EBITDA, the studio is worth $35 billion. Total it up and subtract $10 billion of deadweight from corporate costs, and there’s nearly $90 billion in enterprise value, a $20 billion uplift to where WBD is now. A split could nudge investors to recognize this value by freeing growing divisions from a $37 billion debt pile. Creditors might howl over stuffing those IOUs into a separate television business. But a deal could help by strengthening the unit. WBD itself is a product of a spin-merge with Warner Media, separated from AT&T (T.N) , opens new tab in 2022. Perhaps Comcast - or the cable businesses of competitors like Paramount or Walt Disney (DIS.N) , opens new tab - could be a dance partner this time around. Whatever the case, it sure seems like WBD is re-entering the spin zone. Follow @jennifersaba , opens new tab on X CONTEXT NEWS Warner Bros Discovery on Dec. 12 announced that it would adopt a new corporate structure aligned into two divisions. Streaming & Studios will include its film and entertainment production, as well as streaming platforms like HBO. Global Linear Networks will house its traditional television networks. Shares of the company, which owns cable channels including, CNN, the Food Network and TNT, rose over 15% following the announcement. WBD retained JPMorgan, Evercore and Guggenheim Securities as financial advisers. For more insights like these, click here , opens new tab to try Breakingviews for free. Editing by Jonathan Guilford and Pranav KiranThe loss of Pioli, known for his tactical acumen and ability to motivate the team, will undoubtedly be felt by the players and fans alike. However, the players have shown resilience and determination throughout the season, and will be looking to put in a strong performance in his absence. One player who will be crucial in the absence of Pioli is Simon Kjaer, the experienced Danish defender who has been a rock at the heart of Milan's defense this season.Nanjing Lukou International Airport also issued a statement in support of the investigation, emphasizing their commitment to ensuring a safe and comfortable travel experience for all passengers. The airport authorities stressed the importance of maintaining high air quality standards in aircraft and pledged to work closely with airlines to address any potential concerns regarding passenger health and safety.When it comes to innovative design and cutting-edge technology, Sony has always been a pioneer in the world of gaming. The recently released PS5 Pro console has captured the attention of gamers worldwide with its sleek and futuristic design. But did you know that the inspiration behind this iconic design may have come from an unlikely source – a gamer's bathroom heater?

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6. **Pricing and Availability**:The Carolina Hurricanes have high-level producers on the offensive side, making the team a threat in many situations. In the big picture, it might be offensive contributions coming from defensemen that determine how the season plays out. "We need it from everyone," coach Rod Brind'Amour said. The Hurricanes will see if they can generate widespread production again when the Ottawa Senators visit for Friday night's game in Raleigh, N.C. Carolina has won just two of its last six games, and the 3-2 comeback against the San Jose Sharks on Tuesday night was far from smooth. Yet all three of the Hurricanes' goals in the Sharks game came from blueliners: Shayne Gostisbehere, Brent Burns and Jalen Chatfield. "There's not a team in the league that's not looking for their D to join the rush or to be part of the offense," Senators coach Travis Green said. "It's no secret that if your D are scoring and being part of it, you're going to create more." The Carolina defensemen want to be part of any solutions necessary on the offensive end. "We're going to dig deep. We're going to get in the trenches," Chatfield said. "Scoring a late goal, I think that's part of our team, part of our identity and we're going to keep pushing." It's unclear if the Hurricanes have really snapped out of a slide, but winning two of their last three games is encouraging. "Hopefully, we get on the right track and keep pushing," Chatfield said. "We have the group in here to do it. It's just being consistent. It's a long year. We're not going to be able to win them all." Gostisbehere and forwards Sebastian Aho and Martin Necas all have four-game points streaks for the Hurricanes. The Hurricanes will be playing the second of a four-game homestand Friday night. Carolina's 59 goals on home ice were an NHL-high total at midweek. Ottawa completed a 3-1-0 homestand with Wednesday night's 5-1 romp past the Anaheim Ducks, keyed by Drake Batherson's hat trick. It has taken time for the Senators to gear up their offense. "We've got to get a little greasier around the net," Green said. "We've got a few guys who have been snakebitten a little bit." Center Tim Stutzle is Ottawa's points leader (36), but he has gone five games without a goal, though he has seven assists in that stretch. Carolina will adjust its line combinations after losing forward Jack Drury to a broken hand during the San Jose game. He underwent surgery on Thursday and is expected to miss significant time. "It's not looking good," Brind'Amour said. "I'm assuming he's going to be out for a while." The Hurricanes recalled forward Tyson Jost from AHL affiliate Chicago. Jost has played in seven games with Carolina this season, with one goal. The Senators are making their second trip of the season to Raleigh, where they lost 4-0 on Nov. 16. Ottawa is 1-1-1 in road games since that matchup. Goalie Spencer Martin, who logged the shutout for the Hurricanes on Nov. 16, is back in the minor leagues. Pyotr Kochetkov has played the past four games in net for Carolina. --Field Level Media

CHARLOTTE, N.C. (AP) — Front Row Motorsports, one of two teams suing NASCAR in federal court, accused the stock car series Thursday of rejecting the planned purchase of a valuable charter unless the lawsuit was dropped. Front Row made the claim in a court filing and said it involved its proposed purchase of the charter from Stewart-Haas Racing. Front Row said the series would only approve it if Front Row and 23XI Racing dropped their court case. “Specifically, NASCAR informed us that it would not approve the (charter) transfer unless we agreed to drop our current antitrust lawsuit against them,” Jerry Freeze, general manager of Front Row, said in an affidavit filed in the U.S. District Court of Western North Carolina. The two teams in September refused to sign NASCAR's “take-it-or-leave-it” final offer on a new revenue sharing agreement. All other 13 teams signed the deal. Front Row and 23XI balked and are now in court. 23XI co-owner Michael Jordan has said he took the fight to court on behalf of all teams competing in the top motorsports series in the United States. NASCAR has argued that the two teams simply do not like the terms of the final charter agreement and asked for the lawsuit be dismissed. Earlier this week, the suit was transferred to a different judge than the one who heard the first round of arguments and ruled against the two teams in their request for a temporary injunction to be recognized in 2025 as chartered teams as the case proceeds. The latest filing is heavily redacted as it lays out alleged retaliatory actions by NASCAR the teams say have caused irreparable harm. Both Front Row and 23XI want to expand from two full-time cars to three, and have agreements with SHR to purchase one charter each as SHR goes from four cars to one for 2025. The teams can still compete next season but would have to do so as “open” teams that don't have the same protections or financial gains that come from holding a charter. Freeze claimed in the affidavit that Front Row signed a purchase agreement with SHR in April and NASCAR President Steve Phelps told Freeze in September the deal had been approved. But when Front Row submitted the paperwork last month, NASCAR began asking for additional information. A Dec. 4 request from NASCAR was “primarily related to our ongoing lawsuit with NASCAR,” Freeze said. “NASCAR informed us on December 5, 2024, that it objected to the transfer and would not approve it, in contrast to the previous oral approval for the transfer confirmed by Phelps before we filed the lawsuit,” Freeze said. “NASCAR made it clear that the reason it was now changing course and objecting to the transfer is because NASCAR is insisting that we drop the lawsuit and antitrust claims against it as a condition of being approved.” A second affidavit from Steve Lauletta, the president of 23XI Racing, claims NASCAR accused 23XI and Front Row of manufacturing “new circumstances” in a renewed motion for an injunction and of a “coordinated effort behind the scenes.” “This is completely false,” Lauletta said. Front Row is owned by businessman Bob Jenkins, while 23XI is owned by retired NBA Hall of Famer Jordan, three-time Daytona 500 winner Denny Hamlin and longtime Jordan adviser Curtis Polk. NASCAR had been operating with 36 chartered teams and four open spots since the charter agreement began in 2016. NASCAR now says it will move forward in 2025 with 32 chartered teams and eight open spots, with offers on charters for Front Row and 23XI rescinded and the SHR charters in limbo. The teams contend they must be chartered under some of their contractual agreements with current sponsors and drivers, and competing next year as open teams will cause significant losses. “23XI exists to compete at the highest level of stock car racing, striving to become the best team it can be. But that ambition can only be pursued within NASCAR, which has monopolized the market as the sole top-tier circuit for stock car racing,” Lauletta said. "Our efforts to expand – purchasing more cars and increasing our presence on the track – are integral to achieving this goal. “It is not hypocritical to operate within the only system available while striving for excellence and contending for championships,” he continued. “It is a necessity because NASCAR’s monopoly leaves 23XI no alternative circuit, no different terms, and no other viable avenue to compete at this level.” AP auto racing: https://apnews.com/hub/auto-racingBut the benefits of this newfound speed and efficiency extend far beyond mere productivity. As the world becomes increasingly interconnected and data-driven, the ability to process information quickly and accurately is more crucial than ever. 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