- Letter of Intent
- ☕️ Podcast Payout
☕️ Podcast Payout
Spotify renews Joe Rogan's podcast deal.
Spotify shares rose about 2% on Friday after announcing it had renewed its agreement with podcaster Joe Rogan. Under the US$250 million ($383.50 million) deal to license ‘The Joe Rogan Experience,’ Spotify will sell ads for and distribute the show across several platforms including YouTube and Apple. Notwithstanding the eyewatering figure, the deal represents a strategy shift for Spotify, to pivot away from exclusive podcast deals and be ‘more disciplined’ in its podcast spending.
Despite boasting the no.1 podcast in the world, Rogan is a deeply polarising figure who caused Spotify to face extreme backlash in 2022 over his Covid-19 anti-vax stance and use of racial slurs.
ASX as at market close. Commodities and crypto in USD.
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Shares in Pinnacle Investment Management surged 8.62% on Friday, closing at $10.84, after announcing that its funds under management surpassed $100 billion. In its H1 results, Pinnacle announced that its FUM jumped 9% in just six months, while its net profit of $30.2 million was in line with the previous corresponding half’s $30.5 million. The group’s partners netted over $12 million in performance fees during H1 FY24. (Capital Brief)(ASX Announcement)
The quick sync
Former employees say Block could scrap Cash App’s Australia launch after recent layoffs and cost-cutting. (Capital Brief)
Former banking execs are founding a new private bank, Volans, to target ultra-wealthy families across APAC. (AFR)
The Productivity Commission wants policymakers to find a balance between managing consent requirements and maximising productivity and economic gains that AI has to offer. (Capital Brief)
Woodside Energy and Santos are struggling to agree on deal fundamentals, but remain committed to pursuing the $80b merger. (AFR)
Red Sea conflict and industrial action at Australian ports are hitting the supply chain of major furniture retailer, Greenlit Brands. (The Australian)
The Financial Accountability Regime, due to come into force in March, faces delay after Minister Stephen Jones fails to sign off on the new rules. (AFR)
The Federal Government has released a ‘preferred model’ for new standards on vehicle emissions, pushing the country closer to greater adoption of electric vehicles. (Reuters)
Macquarie edges closer to multi-billion dollar pay day from AirTrunk deal. (AFR)
Metcash plans $300m in fundraising for acquisitions. (AFR)
Scarcity Partners is set to buy 30% of Evidentia Group. (AFR)
Lendlease is extending its retreat from the US construction market, announcing that it won't bid for new work in key regions like Chicago and northern California. (The Australian)
Barrenjoey initiates TAB outsourcing exploration, approaching Tabcorp, Sportsbet, and Entain. (The Australian)
KKR’s Colonial First State has joined the bidding for Perpetual, adding to the competition for the financial services firm. (AFR)
International PE eyes Aussie non-bank lenders like Pepper Money, Liberty, Resimac, and Latitude amid favourable conditions and undervaluation. (The Australian)
Metals Acquisition Corp launches book build for $US600m Australian dual listing. (The Australian)
The MRFF has invested $3.25m in four digital health startups through ANDHealth+. (Startup Daily)
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