FCC opens probe into Comcast relationships with local TV affiliates
FCC Chair Brendan Carr said in a letter to Comcast CEO Brian Roberts, seen by Reuters, that he was investigating after reports that NBC and other similarly situated networks are seeking "to extract onerous financial and operational concessions from local broadcast TV stations." Comcast did not immediately respond to a request for comment.
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The Guardian
28 minutes ago
- The Guardian
Celtics co-owner set to buy WNBA's Connecticut Sun for record $325m
A group led by Celtics minority owner Steve Pagliuca has reached a deal to buy the Connecticut Sun for a record $325m and move the team to Boston, according to a person familiar with the sale. The franchise wouldn't play in Boston until the 2027 season. Pagliuca also would contribute $100m for a new practice facility in Boston for the team, the person said. The person spoke to the Associated Press on condition of anonymity on Saturday because the deal hasn't been publicly announced. The sale is pending approval of the league and its Board of Governors. 'Relocation decisions are made by the WNBA Board of Governors and not by individual teams,' the league said in a statement. The Sun have played one regular season game at TD Garden eac of the last two years, including one against Caitlin Clark and the Indiana Fever in July. The league has announced five expansion teams that will begin play over the next five seasons with Portland (2026), Toronto (2026), Cleveland (2028), Detroit (2029) and Philadelphia (2030) joining the WNBA. Each paid a then-record $250m expansion fee. Nine other cities bid for expansion teams, including Houston, which the league singled out as getting a team in the future when it announced Cleveland, Detroit and Philadelphia in June. Boston did not. 'No groups from Boston applied for a team at that time and those other cities remain under consideration based on the extensive work they did as part of the expansion process and currently have priority over Boston. Celtics' prospective ownership team has also reached out to the league office and asked that Boston receive strong consideration for a WNBA franchise at the appropriate time.' The Boston Globe first reported the sale. The Sun are owned by the Mohegan Tribe, which runs the casino where the team has played since 2003. The Tribe bought the franchise for $10m and relocated it from Orlando that year. The Connecticut franchise was the first in the league to be run by a non-NBA owner and also became the first to turn a profit. The team announced in May that it was searching for a potential buyer for the franchise and had hired investment bank Allen & Company to conduct the probe. The WNBA has experienced rapid growth the last few seasons and ownership groups have been investing more into their teams, including player experiences. That has come in the way of practice facilities. The Sun are one of the few teams in the league that haven't announced any plans for a new training facility. Connecticut practices either at the arena in the casino or a local community center. Despite the lack of facilities, the Sun have been one of the most successful teams in the league, making the postseason in 16 seasons, including a run of six straight semifinal appearances. But the team was hit hard this offseason with the entire starting five from last season leaving either via free agency or trade. Connecticut are currently in last place in the WNBA at 5-21. The team sent out a letter to season ticket holders last week saying they'd still be playing at the casino next year. The last team to be sold in the WNBA was in 2021 when real estate investor Larry Gottesdiener led a group that bought the Atlanta Dream for under $10m. A year earlier, Mark Davis paid roughly $2m for the Las Vegas Aces.
Daily Mail
an hour ago
- Daily Mail
TONY HETHERINGTON: What's the truth about this energy firm promising me 12% returns?
Tony Hetherington is Financial Mail on Sunday's ace investigator, fighting readers corners, revealing the truth that lies behind closed doors and winning victories for those who have been left out-of-pocket. Find out how to contact him below. R.B. writes: Some time ago I was contacted by TBE Consultants Ltd about investments in Terra Firma Energy Ltd. They said: 'Our clients enjoy a 12 per cent return on their capital inside 12 months.' I did not invest, but I have now seen a website called Stonehold Investment also promoting Terra Firma Energy. Are you able to find out anything about this company and the people who run it? Tony Hetherington replies: This investigation began in January, with more than a few twists and turns since then. Let's start with the sales firm TBE Consultants. Coincidentally, a few weeks after I began enquiring, its owner William Davies put it into liquidation with debts estimated at £1.7 million. According to the Financial Conduct Authority, Davies was once an investment adviser at Beaufort Securities, already a disreputable stockbroking company when he joined in 2005. The City watchdog fined it £90,000 in 2006. He also ran finance firm Salesian Consultants Ltd until he put this into liquidation in 2019. He borrowed more than £79,000 from it but convinced the liquidator to accept just £30,000 in settlement, saying he was close to bankruptcy. A few months later, Davies became a director of one of the Terra Firma Energy (TFE) group of companies and now sits on the board of four TFE businesses. So when TBE Consultants was recommending investment in TFE, Davies was a boss at both. The salesman who contacted you from TBE Consultants was Stephen Leary, whose background in dodgy investments is pretty scary. He is currently banned for 14 years from acting as a director of any limited company following his central role at Worldwide Commodity Partners Ltd, an investment scam which cost investors almost £3 million. That said, this does not stop him from working in his present role. According to the FCA, Leary was also at two separate disreputable stockbrokers, both exposed by The Mail on Sunday. And while a salesman at TBE Consultants he marketed loan bonds issued by Platinum Assets And Developments (PAD). I warned in 2020 that this was a high-risk scheme. It relied largely on the prospects of an offshoot, Platinum Energy Solutions, but last year the High Court ordered this into liquidation because of its debts. And here is a link to Terra Firma Energy. Peter Eagle was the managing director of the failed Platinum Energy Solutions, and he became a director of TFE in 2020 until quitting in 2021. The day-to-day management team at TFE are just as interesting. When I began investigating, its business development manager was Dan Keenan. In 2012 he was jailed for 11 years for money laundering and other financial crimes, linking him to a major drug dealer. And before this he was jailed for five years for blackmail and conspiracy to defraud. Mr Keenan vanished from TFE's website within hours of my first questions to the company. Simon Fagan was named as TFE's legal adviser. He is a Manchester solicitor, and in 2015 he was a director of radiator company Xefro Ltd, the parent company of Xefro Trade, which was wound up by the High Court following an investigation which described its products as defective and dangerous. Of course, none of this means TFE's 12 per cent loan notes will flop. The firm exists and runs 'battery farms' that store power with the idea of selling it on. It is concerning, though, that its website claims TFE is in partnership with National Grid, which told me: 'Terra Firma sell power to the electricity grid, or into the national energy market. They do not sell it to National Grid.' TFE did, however, say that their assets had participated in the electricity market. TFE's loan notes are only supposed to be offered to experienced or wealthy investors who can take risks. The website of Stonehold Investment – where you spotted the TFE investment – emphasises this. And it should know, as Stonehold Investment is just TFE itself using a different name! Stonehold has claimed to be 'award winners' and 'trusted by 123,000 investors'. What awards? And how many investors! Well, I asked TFE about Stonehold and about its personnel. TFE failed to reply, but back like a guided missile came a rocket fired at me by its lawyers. Stonehold's claims erroneously appeared in Google results, they conceded. TFE had no explanation but would correct this. Yes, William Davies was a stockbroker but was just one of many employees at firms penalised by the regulator. Nothing to do with TFE, they added. Yes, Stephen Leary is banned as a director for ripping off investors, but this does not ban him from recruiting investors now for TFE, they explained. Yes, Simon Fagan provides legal advice to TFE, but so what, as TFE has no connection to disgraced company Xefro. The lawyers insisted that TFE's management team had no idea of Dan Keenan's prison record and told me that he has now left the company by mutual agreement. If so, it might be a good idea to ask Mr Keenan to change his LinkedIn page, which still says he is TFE's full-time business development manager. It might also be a good idea for Helen Aletras, one of TFE's management team, to stop putting holiday photos online showing her with Mr Keenan, who she has known for many years. Mysteriously, investment in TFE's loan notes was promoted via a now-defunct website called This claimed that TFE has a '15-year purchase agreement with National Grid'. However, I am told now that TFE has no idea who ran the sales site, or why they promoted TFE as an investment. TFE's lawyers also told me there was no reason that any of this should be published. I disagree.
Daily Mail
an hour ago
- Daily Mail
FLOURISHING AFTER 50: I've found love again - but now my kids are worried they'll lose their inheritance
Dear Vanessa, I never thought I'd be writing to you, but here I am at 56, divorced for 10 years, and finally with a man who makes me feel alive again. We met on a hiking trip, and it's been wonderful – until we started talking about moving in together. He wants us to sell our homes and buy something new. I have more equity, so naturally, I'd be putting in more. My kids are worried I'll lose their inheritance if things don't work out. He thinks I'm overthinking it and that love means trusting each other. After everything I've been through, I just want to protect myself and my future. But I don't want money fears to ruin what could be the best chapter of my life. How do couples in their 50s blend finances without breaking their relationship? Wishing for guidance, Linda. Linda, congratulations on finding love again. Many people in their 50s believe that part of their life is over, so it's wonderful you've found happiness. You're also wise to pause and think before making big financial moves. Love is about trust, but later-in-life relationships often come with complex money matters that need clear agreements. When you've spent decades building your assets and raising children, combining finances isn't as simple as when you were younger. A co-habitation or prenuptial agreement can outline exactly what would happen if you separated. Far from being unromantic, it creates confidence that both of you will be treated fairly, allowing you to enjoy the relationship without financial anxiety hanging over you. If you decide to buy a home together, you don't need to split ownership 50/50. Many couples use arrangements where each person owns a percentage of the property that matches what they've contributed. This also allows you to leave your share to your children rather than it automatically passing to your partner if something happens to you. It's one of the most effective ways to protect family inheritance while still buying together. At 56, your pension and retirement savings are key to your long-term security. Putting too much of your equity into a shared home may leave you with less flexibility later to invest, increase your pension contributions, or cover healthcare needs. While your main home usually isn't counted in means-tested benefits, locking up most of your wealth in property can limit your options if life changes. Keeping some money separate can help you maintain independence and peace of mind well into your 70s and beyond. Money can be an uncomfortable topic, especially after divorce, but having open and calm conversations now is crucial. A financial adviser who understands blended families can model different scenarios for you – whether you keep separate homes, buy together equally, or use different ownership shares – so you can see exactly what's at stake. If you don't have an adviser, you can use my free service to find one who's right for you here. With professional advice and the right agreements in place, you can protect your children's inheritance, safeguard your retirement, and still build a secure and happy future with your new partner. Wishing you happiness and peace of mind,
