Amazon workers in Minnesota and Germany are striking as Prime Day kicks off, in a stand against working conditions and wage practices. The action in Minnesota represents the...Retailread more
Treasury Secretary Steven Mnuchin is raising red flags ahead of Facebook's proposed cryptocurrency launch.Marketsread more
Epstein is accused of sexually exploiting dozens of underage girls from 2002 through 2005 at his New York and Florida residences. He is a former friend of Presidents Donald...Politicsread more
When you think of Prime Day, you might be thinking about deals on Instant Pots and Amazon Echo devices — not half-off dresses and designer heels. But the market for apparel...Retailread more
David Marcus, the head of Facebook's digital currency project, said the company expects Libra will drive more advertising revenue for the company.Technologyread more
Some White House officials expect the Cabinet secretary, who has known the president for years, to depart as soon as this summer.Politicsread more
Boeing met with aircraft leasing firms and financiers in New York as the grounding of its popular 737 Max planes drags on with no clear timeline for getting the planes back in...Aerospace & Defenseread more
Both companies report earnings on Aug. 8, so the CBS and Viacom boards have set that as a natural deadline to agree to a merger. Price won't be discussed by the companies...Technologyread more
The Food and Drug Administration "stands ready" to start reviewing e-cigarettes amid a teen vaping "epidemic," acting Commissioner Ned Sharpless said Monday in a statement.Health and Scienceread more
US oil companies on Monday began restoring some of the more than nearly 74% production shut at U.S. Gulf of Mexico platforms ahead of Hurricane Barry, the US offshore drilling...Energyread more
The Guggenheim CIO says he had been approached by the White House about possibly joining the Federal Reserve.The Fedread more
Viacom announced its deal to acquire Awesomeness on Friday for a price well under $300 million, according to people familiar with the matter.
That's significantly lower than the $650 million valuation that the company reportedly commanded when Verizon invested in 2016. The Hollywood Reporter reported the price to be $25 million plus debt. Viacom declined to comment on price, and financial terms weren't disclosed.
"With a network of more than 158 million subscribers, the addition of Awesomeness will strengthen Viacom's dominance among coveted youth audiences and accelerate the company's push to produce original premium digital programming," Viacom said in a statement.
Awesomeness — which has been a joint venture of NBCUniversal's DreamWorks Animation, Hearst and Verizon — had its start as a YouTube channel focused on content for millennials and teens. Co-founder Brain Robbins has since left the company and joined Viacom family as an executive at Paramount, while Kelly Day, a former senior exec at Awesomeness, heads digital for Viacom.
Awesomeness expanded to becoming a multi-channel network, managing tens of thousands of channels before expanding into more traditional media. After DreamWorks acquired AwesomenessTV in 2013, it launched several co-initiatives including YouTube children's channel DreamWorksTV, as well as a music label and publishing unit.
Awesomeness CEO Jordan Levin will depart the company after a post-acquisition transition period, Viacom said in the statement.
Verizon and Hearst each acquired around a quarter of the company in 2016. Sources familiar with the matter said the joint ownership structure of the company was not working because of conflicting priorities.
--Additional reporting by Michelle Castillo.
Disclosure: Comcast owns CNBC parent company NBCUniversal.