Show Notes
SpaceX, Elon Musk's rocket and space company is preparing to go public next month in what could become the biggest IPO to hit Wall Street. New filings reveal a sky-high projection that values the company at just over $1 trillion and estimates the offering could raise between $50 and $75 billion when shares hit the market in June. If it does, the SpaceX IPO would shatter the current record held by Saudi Aramco or the Saudi Arabian Oil Company, which raised about $26 billion in 2019.
Meanwhile, James Murdoch is buying half of Vox Media for more than $300 million, with the deal including their podcast network, Vox.com, and New York Magazine.
And tonight will be the final night of “The Late Show With Stephen Colbert.” In 2015, Colbert took over from David Letterman, the first and only host of CBS's “The Late Show,” and for most of Colbert’s time with the show, he was the highest-rated late-night host.
More from Headlines From The Times
After a nearly year-long legal battle, the biggest merger in Hollywood history closed on Tuesday. The $111 billion deal combines Paramount Skydance and Warner Bros. Discovery, and the mega media company is now called Skydance. In addition to the two legacy film studios, it includes the streaming services HBO Max and Paramount+, and two of the biggest news outlets in the country, CNN and CBS. Three industry experts spoke to the Associated Press about what those changes could mean for Hollywood.
For decades, American restaurants have been super-sizing their menus. Now, with about 30 million Americans on GLP-1 weight-loss drugs like Wegovy and Ozempic, many are scaling back. Customers who eat less are ordering less, often choosing smaller items like appetizers over full-priced entrées. McKinsey found GLP-1 users are buying fewer snacks and sodas, a sign the weight-loss drugs are changing how and what people eat. For restaurants, that means smaller checks just as costs climb.
Nvidia is making a big bet on itself. The chipmaker authorized what it calls the largest stock buyback in history, adding $150 billion to its existing program and bringing its total authorization to $235 billion.
Diesel prices are hitting record highs, averaging $6.50 a gallon, up more than 70% since the start of the Iran war, according to AAA. The spike comes right as U.S. farmers are harvesting corn and soybeans, two of the country's largest commodities. Missouri farmer Jason Kurtz says he's paid twice as much for diesel this year. Farmers are also experiencing elevated costs for fertilizer and chemicals.
CNN, MS NOW and Politico are suing the Trump administration after their reporters were denied entry to the White House and stripped of their press credentials.