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The war over Sports Illustrated

Sports Illustrated was one of the larger chunks of the ordered, stable publishing galaxy that existed before the Facebook supernova exploded, and spun it all into a chaotic turmoil of space dust that’s still trying to settle. In the mess of people and models and platforms that are still trying to form themselves into planets and systems that fall into orbit around the Meta-cluster at the center of the galaxy, Sports Illustrated remained intact, held together mostly by readership, one of the strongest fundamental forces of this metaphorical galaxy.

That force is and was generated by the talent that produces its content. The other fundamental force at play here, capital, started pulling at it in different directions recently, altering its orbit and credibly threatening to bust it up into smaller pieces that may or may not end up developing atmospheres that can support life, but will assuredly be different in the near term.

You can read more on the matter here.

What’s going on?

• Canadian Rental Market Hits Record Low Vacancy Rates (theDeepDive)

• Cuba delays 500% fuel price hike over 'cybersecurity' incident (Yahoo)

• The Messenger Announces Shutdown, ‘Effective Immediately’ (theDeepDive)

• Deutsche Bank to cut 3,500 jobs and reward shareholders (Reuters)

• Spain Pushes Investigation On How Russia Could Have Influenced Catalonian Independence (theDeepDive)

• Big central banks are pivoting towards rate cuts (Reuters)

• Biden Administration to Fund $1.5 Billion for Revival of Michigan’s Palisades Nuclear Plant (theDeepDive)

• Liberals introduce legislation to delay expansion of assisted dying eligibility until 2027 (CBC)

• Elon Musk Wants to Move Tesla’s Incorporation From Delaware to Texas (WSJ)

• Israel Targets Canadian Cannabis in New ‘Anti-Dumping’ Probe (theDeepDive)

What’s the latest?

• AIMCo Goes Green: The Alberta Investment Management Corp. (AIMCo) has established a new $1-billion fund dedicated to investing in the global energy transition and decarbonization sectors. This fund represents new capital, and AIMCo plans to make investments in addition to its existing climate-related investments across various asset classes.

• Tesla To Texas?: Tesla CEO Elon Musk has announced that the company will hold a shareholder vote to transfer its state of incorporation from Delaware to Texas. This decision comes days after a judge invalidated Musk's record-breaking $56 billion pay package. Musk's move to change the state of incorporation could face legal challenges, and shareholders need to assess how the transition might impact their rights and the company's governance.

• Flair Tax Trouble: Flair Airlines has criticized media coverage of the airline's tax debts, calling it "sensationalist." Flair Airlines owes $67.2 million in unpaid taxes, and the Canada Revenue Agency obtained an order for the seizure and sale of the carrier's property. CEO Stephen Jones dismissed concerns about the CRA confiscating Flair aircraft and emphasized that the airline's operations won't be impacted.

• Deutsche Bank Layoffs: Deutsche Bank announced plans to cut 3,500 jobs, buy back shares, and pay dividends in its latest effort to reassure investors about its turnaround. The job cuts represent just under 4% of its global workforce. The bank reported a 30% drop in fourth-quarter profit, but it still beat analyst expectations. The share buyback and dividends will total €1.6 billion ($1.7 billion).

• Rogers Beat: Rogers Communications reported better-than-expected Q4 results. The company's adjusted earnings per share of $1.19 exceeded analysts' estimates of $1.12, and revenue came in slightly above projections at $5.34 billion. The company expects service revenue to increase by at least eight percent in 2024, and free cash flow is projected to jump, reaching at least $2.9 billion—a 20 percent increase over 2023 following its acquisition of Shaw Communications.

Gatekeeper's 101% revenue jump

The stock market and stuff

• PayPal Cuts 9% of Its Workforce, To Deploy Automation (theDeepDive)

• Peloton shares plummet 20% as fitness company gives dismal outlook (CNBC)

• Activist Elliott builds roughly 13% stake in Etsy, secures board seat (CNBC)

• Wilson tennis racket maker Amer Sports to start trading on NYSE after discounting IPO (CNBC)

In the juniors

• Numinus Wellness Sells Off Shares In Alto Neuroscience Ahead Of IPO (theDeepDive)

• Patriot Battery Metals Hits 1.21% Li2O Over 26 Metres At CV13 Pegmatite (theDeepDive)

• FPX Nickel Sees Strategic Investors Re-Up Ownership For $4.3 Million In Proceeds (theDeepDive)

• Alaska Energy Metals Set To Release Updated Resource Estimate In Q1 (theDeepDive)

FULL DISCLOSURE: Anfield Energy is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Anfield Energy. The author has been compensated to cover Anfield Energy on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.