Jennifer Garner’s Dog Birdie Dies: 'Held on' Until Violet Came HomeORLANDO, Fla.--(BUSINESS WIRE)--Dec 9, 2024-- Falcon’s Beyond Global, Inc. (Nasdaq: FBYD) (“Falcon’s Beyond,” “Falcon’s,” or the “Company”), a leading innovator in immersive storytelling through its divisions Falcon’s Creative Group (“FCG”), Falcon’s Beyond Destinations (“FBD”), and Falcon’s Beyond Brands (“FBB”), today reminded its shareholders of the upcoming stock dividend previously announced on October 1, 2024. Under the terms of the dividend, eligible shareholders will receive a stock dividend of 0.2 shares of the Company’s Class A common stock per share of Class A common stock outstanding, payable on December 17, 2024, to holders of Class A common stock as of the record date of December 10, 2024. In lieu of fractional shares, cash will be distributed to each stockholder who would otherwise have been entitled to receive a fractional share, with the amount of cash to be determined based on the average closing price, rounded to the nearest penny, of the Company’s Class A common stock on Nasdaq for the five consecutive business days prior to the payment date of the stock dividend. Additionally, as a result of the stock dividend, holders of the Company’s Class B common stock will receive a stock dividend of 0.2 shares of Class B common stock per share of Class B common stock outstanding, and the Falcon’s Beyond Global, LLC common units that are issued and outstanding will be adjusted to reflect the same economic equivalent of the stock dividend. Outstanding warrants, restricted stock units and other equity awards will be similarly adjusted in accordance with their terms. A total of approximately 2.0 million shares of Class A common stock and approximately 11.5 million shares of Class B common stock are expected to be issued in connection with the stock dividend. Stockholders will not be required to take any action to receive the stock dividend. After the payment date, stockholders’ book entry accounts will be credited with the additional shares that represent the stock dividend. When shares are held in a brokerage account in the name of a broker, the additional shares will be distributed to the broker on the stockholder’s behalf. The stock dividend is administered by Continental Stock Transfer & Trust Company, the Company’s transfer agent. About Falcon’s Beyond Falcon’s Beyond is a visionary innovator in immersive storytelling, sitting at the intersection of three potential high growth business opportunities: content, technology, and experiences. Falcon’s Beyond propels intellectual property (IP) activations concurrently across physical and digital experiences through three core business units: Falcon’s Beyond also invents immersive rides, attractions, and technologies for entertainment destinations around the world. FALCON’S BEYOND and its related trademarks are owned by Falcon’s Beyond. Falcon’s is headquartered in Orlando, Fla. Learn more at falconsbeyond.com . Falcon’s Beyond may use its website as a distribution channel of material Company information. Financial and other important information regarding the Company is routinely accessed through and posted on our website at https://investors.falconsbeyond.com . In addition, you may automatically receive email alerts and other information about Falcon’s when you enroll your email address by visiting the Email Alerts section at https://investors.falconsbeyond.com . Cautionary Note Regarding Forward-Looking Statements This press release contains statements that are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, words such as “will”, “would” and similar expressions identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ from those expressed in or implied by the forward-looking statements, including (1) our ability to sustain our growth, effectively manage our anticipated future growth, and implement our business strategies to achieve the results we anticipate, (2) impairments of our intangible assets and equity method investment in our joint ventures, (3) our ability to raise additional capital, (4) the closure of Katmandu Park DR and the repositioning and rebranding of our FBD business, (5) the success of our growth plans in FCG, (6) our customer concentration in FCG, (7) the risk that contractual restrictions relating to the Strategic Investment may affect our ability to access the public markets and expand our business, (8) the risks of doing business internationally, including in the Kingdom of Saudi Arabia, (9) our indebtedness, (10) our dependence on strategic relationships with local partners in order to offer and market our products and services in certain jurisdictions, (11) our reliance on our senior management and key employees, and our ability to hire, train, retain, and motivate qualified personnel, (12) cybersecurity-related risks, (13) our ability to protect our intellectual property, (14) our ability to remediate identified material weaknesses in our internal controls over financial reporting, (15) the concentration of share ownership and the significant influence of the Demerau Family and Cecil D. Magpuri, (16) the outcome of pending, threatened and future legal proceedings, (17) our continued compliance with Nasdaq continued listing standards, (18) risks related to our Up-C entity structure and the fact that we may be required to make substantial payments to certain unitholders under our Tax Receivable Agreement, and (19) the risks disclosed under the caption “Risk Factors” in the Company’s Annual Report on Form 10-K, as filed with the Securities and Exchange Commission on April 29, 2024, and the Company’s other filings with the Securities and Exchange Commission. The forward-looking statements herein speak only as of the date of this press release, and the Company undertakes no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law. View source version on businesswire.com : https://www.businesswire.com/news/home/20241209604801/en/ CONTACT: Media Relations: Kathleen Prihoda, Falcon’s Beyond kprihoda@falconsbeyond.comInvestor Relations: ir@falconsbeyond.com KEYWORD: FLORIDA UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: OTHER TRAVEL GENERAL ENTERTAINMENT ENTERTAINMENT TRAVEL SOURCE: Falcon’s Beyond Global, Inc. Copyright Business Wire 2024. PUB: 12/09/2024 03:49 PM/DISC: 12/09/2024 03:47 PM http://www.businesswire.com/news/home/20241209604801/enLAS VEGAS — Formula 1 on Monday at last said it will expand its grid in 2026 to make room for an American team that is partnered with General Motors. "As the pinnacle of motorsports, F1 demands boundary-pushing innovation and excellence. It's an honor for General Motors and Cadillac to join the world's premier racing series, and we're committed to competing with passion and integrity to elevate the sport for race fans around the world," GM President Mark Reuss said. "This is a global stage for us to demonstrate GM's engineering expertise and technology leadership at an entirely new level." The approval ends years of wrangling that launched a U.S. Justice Department investigation into why Colorado-based Liberty Media, the commercial rights holder of F1, would not approve the team initially started by Michael Andretti. Andretti in September stepped aside from leading his namesake organization, so the 11th team will be called Cadillac F1 and be run by new Andretti Global majority owners Dan Towriss and Mark Walter. The team will use Ferrari engines its first two years until GM has a Cadillac engine built for competition in time for the 2028 season. Towriss is the the CEO and president of Group 1001 and entered motorsports via Andretti's IndyCar team when he signed on financial savings platform Gainbridge as a sponsor. Towriss is now a major part of the motorsports scene with ownership stakes in both Spire Motorsports' NASCAR team and Wayne Taylor Racing's sports car team. Walter is the chief executive of financial services firm Guggenheim Partners and the controlling owner of both the World Series champion Los Angeles Dodgers and Premier League club Chelsea. "We're excited to partner with General Motors in bringing a dynamic presence to Formula 1," Towriss said. "Together, we're assembling a world-class team that will embody American innovation and deliver unforgettable moments to race fans around the world." Mario Andretti, the 1978 F1 world champion, will have an ambassador role with Cadillac F1. But his son, Michael, will have no official position with the organization now that he has scaled back his involvement with Andretti Global. "The Cadillac F1 Team is made up of a strong group of people that have worked tirelessly to build an American works team," Michael Andretti posted on social media. "I'm very proud of the hard work they have put in and congratulate all involved on this momentous next step. I will be cheering for you!" The approval has been in works for weeks but was held until after last weekend's Las Vegas Grand Prix to not overshadow the showcase event of the Liberty Media portfolio. Max Verstappen won his fourth consecutive championship in Saturday night's race, the third and final stop in the United States for the top motorsports series in the world. Grid expansion in F1 is both infrequent and often unsuccessful. Four teams were granted entries in 2010 that should have pushed the grid to 13 teams and 26 cars for the first time since 1995. One team never made it to the grid and the other three had vanished by 2017. There is only one American team on the current F1 grid — owned by California businessman Gene Haas — but it is not particularly competitive and does not field American drivers. Andretti's dream was to field a truly American team with American drivers. The fight to add this team has been going on for three-plus years, and F1 initially denied the application despite approval from F1 sanctioning body FIA. The existing 10 teams, who have no voice in the matter, also largely opposed expansion because of the dilution in prize money and the billions of dollars they've already invested in the series. Andretti in 2020 tried and failed to buy the existing Sauber team. From there, he applied for grid expansion and partnered with GM, the top-selling manufacturer in the United States. The inclusion of GM was championed by the FIA and president Mohammed Ben Sulayem, who said Michael Andretti's application was the only one of seven applicants to meet all required criteria to expand F1's current grid. "General Motors is a huge global brand and powerhouse in the OEM world and is working with impressive partners," Ben Sulayem said Monday. "I am fully supportive of the efforts made by the FIA, Formula 1, GM and the team to maintain dialogue and work towards this outcome of an agreement in principle to progress this application." Despite the FIA's acceptance of Andretti and General Motors from the start, F1 wasn't interested in Andretti — but did want GM. At one point, F1 asked GM to find another team to partner with besides Andretti. GM refused and F1 said it would revisit the Andretti application if and when Cadillac had an engine ready to compete. "Formula 1 has maintained a dialogue with General Motors, and its partners at TWG Global, regarding the viability of an entry following the commercial assessment and decision made by Formula 1 in January 2024," F1 said in a statement. "Over the course of this year, they have achieved operational milestones and made clear their commitment to brand the 11th team GM/Cadillac, and that GM will enter as an engine supplier at a later time. Formula 1 is therefore pleased to move forward with this application process." Yet another major shift in the debate over grid expansion occurred earlier this month with the announced resignation of Liberty Media CEO Greg Maffei, who was largely believed to be one of the biggest opponents of the Andretti entry. "With Formula 1's continued growth plans in the US, we have always believed that welcoming an impressive US brand like GM/Cadillac to the grid and GM as a future power unit supplier could bring additional value and interest to the sport," Maffei said. "We credit the leadership of General Motors and their partners with significant progress in their readiness to enter Formula 1." Get local news delivered to your inbox!
B.C. premier says U.S. tariffs would be 'devastating' for forest industry(Bloomberg) — Prime Minister Justin Trudeau said Canada “will respond” if US President-elect Donald Trump imposes new tariffs on Canadian imports, and argued that retaliatory tariffs were successful when Trump put tariffs on Canadian steel and aluminum in 2018. The comments are Trudeau’s strongest language yet in signaling his government is preparing retaliation if Trump follows through on his threat. On Nov. 25, Trump said he would impose across-the-board 25% tariffs on Canadian and Mexican imports on the first day of his presidency unless both countries crack down on the flow of migrants and fentanyl into the US. “Let’s not kid ourselves in any way, shape or form: 25% tariffs on everything going to the United States would be devastating for the Canadian economy,” said Trudeau, speaking to the Halifax Chamber of Commerce. But he said the tariffs would also raise costs on a wide range of goods the US gets from Canada. Canada will “respond to unfair tariffs in a number of ways, and we’re still looking at the right ways to respond, but our responses to the unfair steel and aluminum tariffs were what ended up lifting those tariffs last time,” he said. Shortly after Trump announced the tariffs on Canadian steel and aluminum in the spring of 2018, Canada rolled out retaliatory tariffs on targeted, politically sensitive items such as “bourbon and Harley Davidsons and playing cards and Heinz ketchup,” Trudeau said. The tariffs were “politically impactful to the president’s party and colleagues,” and that was how “we were able to punch back in a way that was actually felt by Americans,” Trudeau said. Canadian officials have stressed that Canada is also a huge market for American businesses. “We are the biggest customer by far of US exporters,” said Kirsten Hillman, Canada’s ambassador to the US, in a Bloomberg TV interview last week. She said 36 US states count Canada as their biggest export market. The Canadian prime minister cautioned that Trump should be taken seriously when he threatens to impose tariffs, but said history has shown Trump can have other motivations as well. “His approach will often be to challenge people, to destabilize a negotiating partner, to offer uncertainty and even sometimes a bit of chaos into the well-established hallways of democracies and institutions,” Trudeau said. “One of the most important things for us to do is not to freak out, not to panic,” Trudeau said, arguing Canada will need a thoughtful and united approach to reach an agreement with Trump and avoid harming both economies. However, he said managing the trade file is likely to be more difficult in Trump’s second term, despite the fact Canada, Mexico and the US renegotiated the entire North American free trade pact in 2018. “This time’s going to be different, it’s going to be a little more challenging,” Trudeau said. Trump and his inner circle are coming in with a much “clearer set of ideas of what they want to do right away than they had last time,” he said. But he said he believes Canada can again find a “win-win” solution that works for citizens and businesses on both sides of the border. (Adds more quotes, details starting in second paragraph.)
ANN ARBOR, Mich. — Michigan's defense of the national championship has fallen woefully short. The Wolverines started the season ranked No. 9 in the AP Top 25, making them the third college football team since 1991 to be ranked worse than seventh in the preseason poll after winning a national title. Michigan (6-5, 4-4 Big Ten) failed to meet those modest expectations, barely becoming eligible to play in a bowl and putting the program in danger of losing six or seven games for the first time since the Brady Hoke era ended a decade ago. The Wolverines potentially can ease some of the pain with a win against rival and second-ranked Ohio State (10-1, 7-1, No. 2 CFP) on Saturday in the Horseshoe, but that would be a stunning upset. Ohio State is a 21 1/2-point favorite, according to the BetMGM Sportsbook, and that marks just the third time this century that there has been a spread of at least 20 1/2 points in what is known as "The Game." Michigan coach Sherrone Moore doesn't sound like someone who is motivating players with an underdog mentality. "I don't think none of that matters in this game," Moore said Monday. "It doesn't matter the records. It doesn't matter anything. The spread, that doesn't matter." How did Michigan end up with a relative mess of a season on the field, coming off its first national title since 1997? Winning it all with a coach and star player contemplating being in the NFL for the 2024 season seemed to have unintended consequences for the current squad. The Wolverines closed the College Football Playoff with a win over Washington on Jan. 8; several days later quarterback J.J. McCarthy announced he was skipping his senior season; and it took more than another week for Jim Harbaugh to bolt to coach the Los Angeles Chargers. In the meantime, most quality quarterbacks wanting to transfer had already enrolled at other schools and Moore was left with lackluster options. Davis Warren beat out Alex Orji to be the team's quarterback for the opener and later lost the job to Orji only to get it back again. No matter who was under center, however, would've likely struggled this year behind an offensive line that sent six players to the NFL. The Wolverines lost one of their top players on defense, safety Rod Moore, to a season-ending injury last spring and another one, preseason All-America cornerback Will Johnson, hasn't played in more than a month because of an injury. The Buckeyes are not planning to show any mercy after losing three straight in the series. "We're going to attack them," Ohio State defensive end Jack Sawyer said. "We know they're going to come in here swinging, too, and they've still got a good team even though the record doesn't indicate it. This game, it never matters what the records are." While a win would not suddenly make the Wolverines' season a success, it could help Moore build some momentum a week after top-rated freshman quarterback Bryce Underwood flipped his commitment from LSU to Michigan. "You come to Michigan to beat Ohio," said defensive back Quinten Johnson, intentionally leaving the word State out when referring to the rival. "That's one of the pillars of the Michigan football program. "It doesn't necessarily change the fact of where we are in the season, but it definitely is one of the defining moments of your career here at Michigan." AP Sports Writer Mitch Stacy in Columbus, Ohio, contributed to this report. Be the first to know Get local news delivered to your inbox!
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Illustration showing what the new Kettering General Hospital could look like after the rebuild. (Image: KGH) Sign up to our free email newsletter to receive the latest breaking news and daily roundups More Newsletters Subscribe Please enter a valid email Something went wrong, please try again later. More Newsletters We use your sign-up to provide content in ways you’ve consented to and improve our understanding of you. This may include adverts from us and third parties based on our knowledge of you. More info Thank you for subscribing! We have more newsletters Show me See Our Privacy Notice See Our Privacy Notice × Group 28 Sign up to our free email newsletter to receive the latest breaking news and daily roundups Invalid email Something went wrong, please try again later. Sign Up No thanks, close We use your sign-up to provide content in ways you’ve consented to and improve our understanding of you. This may include adverts from us and third parties based on our knowledge of you. More info × Group 28 Thank you for subscribing! We have more newsletters Show Me No thanks, close See our Privacy Notice A Northamptonshire councillor has accused the Labour government of holding the New Hospital Programme review as part of a "warm-up exercise" before cutting funding. The local Conservative party passed a motion last Thursday (December 5) asking the leader to write to government for an 'urgent commitment' towards delivering the funding for the Kettering General Hospital (KGH) rebuild. A Labour Paty spokesperson said that hospital building commitments made under the previous Conservative government were "both unfunded and based on an entirely fictional timetable" and that their review is "working at pace". The previous government's 40 New Hospitals Programme was put under review by Labour as part of nationwide cost-saving measures and plans for a total renovation of KGH remain in limbo. So far, funding has only been secured for a new energy centre and the full business case for the North Northants hospital is yet to be approved. Burton and Broughton councillor Alex Evelyn (Cons), called on North Northants Council (NNC) Leader Jason Smithers to write to the Health Secretary, Wes Streeting, to ask for confirmation of the hospital's business case and funding so the rebuild can begin. Hospital bosses have already confirmed that the new KGH would not be complete by the previous Government's 2030 deadline . Proposing the motion at a full council, Cllr Evelyn said: " On the 10 June, when the Chancellor came to Kettering, she said that the Tory claim that Labour would shelve KGH is 'a load of rubbish'. It’s interesting how over the space of five or six months the 'load of rubbish' seems to be coming from Labour’s promises. "While I accept that no final decision has been made on whether KGH has been completely cancelled, the dither and delay will inevitably impact the morale of staff and patients. It would be nice to see this evening if local Labour would have the courage to fight for our residents, our community and our much-needed infrastructure investment." During the debate, Labour Group leader Cllr Matt Keane accused the Conservative motion of turning the issue into a "political football match". He asked that the chamber support his amendment, which included a statement on the previous Conservative government's 'failure' to outline spending commitments or a realistic timeline. He said the project had gone "off track" long before Labour took office and that the previous administration should have made more progress. "The one thing the project needs is a realistic timeline and a proper budget- this was not achieved by the previous government. It’s misleading to say the £620m earmarked for Kettering General Hospital because it’s a matter of public record that only £9.5m was allocated. "I’m hoping that the members opposite will support this amendment which will take the political football out of it, ask the leader to write to Wes Streeting to approve the rebuild of Kettering General Hospital, commit the funding required and outline a realistic timeline to deliver the project." Windmill councillor Anne Lee (Lab) said that their proposal removed what she called "factual inaccuracies" in the original motion. She added: "Yes, of course we need a new hospital, but you can’t expect the current government to magic up money that was promised twice by Philip Hollobone, but not delivered by the previous government." Leader of NNC, Cllr Jason Smithers said: "I think probably that a lot of the money and these black holes that keep appearing everywhere is really just a thing of your government paying its paymasters in the unions and looking after the train drivers rather than looking after the residents of North Northamptonshire. "Support us on our motion, we’ll hopefully get our hospital, we’ll all put pressure on the government. If we don’t put that pressure on now, in five years we will get to breaking point at that hospital." Labour councillor Leanne Buckingham responded to his claims, saying that they were paying key workers a fair and decent wage, not so-called "paymasters". She added: "We all want this, we desperately need a hospital that is fit for purpose and that is accessible." The opposition's amendment was voted out 38 to nine, with two members abstaining from voting. Deputy leader of NNC, Cllr Helen Howell stood to address fellow councillors: "What I can’t understand is why anybody thinks that a review needs to take place because all of the due diligence was done previously. "A vote against this motion you are saying that actually all of the work that’s been done before, the fact that we need a new hospital, you disagree with. Our residents deserve a new hospital, stop these ridiculous reviews and get on with the job in hand." Summing up, Cllr Evelyn told the room before the vote: "You only have reviews when you’re going to cut something. This is the warm-up exercise before the cuts come." The original motion passed and Cllr Jason Smithers will write to the Health Secretary with the KGH requests. Story Saved You can find this story in My Bookmarks. Or by navigating to the user icon in the top right. Follow CambridgeLive Facebook Twitter More On Northamptonshire Conservative Party Labour Party
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