Latest news with #21stCenturyFox
CTV News
02-07-2025
- Sport
- CTV News
Convictions in FIFA corruption case reinstated: court
Hernan Lopez, second from right, a former Fox executive, leaves federal court after his conviction for paying tens of millions of dollars in bribes to nab broadcasting rights to the World Cup and other top soccer matches, Thursday, March 9, 2023, in New York. (AP Photo/Bebeto Matthews) A United States appeals court on Wednesday reinstated the convictions of a former Fox broadcasting executive and an Argentine sports-marketing firm involved in the FIFA corruption scandal. Hernan Lopez, a former executive with 21st Century Fox, and marketing firm Full Play, had been acquitted on appeal following their conviction in 2023 after a judge cited precedent from a US Supreme Court ruling. However an appeals court in New York on Wednesday found that the decision to acquit on appeal had been erroneous, citing a misreading of the law surrounding federal wire fraud. 'We hold that the district court erred in concluding that defendants' conduct did not fall within the scope of Statute 1346,' a ruling said. 'Therefore, we vacate the district court's judgments,' the Second Circuit Court of Appeals ruled, remanding the case for 'further proceedings pursuant to this opinion'. Lopez and Full Play's case was was one of several to emerge from the 2015 probe from the US Justice Department which rocked world soccer's governing body FIFA and continental confederations for South and North America. The US investigation, which included raids on FIFA officials in Zurich, led to a series of arrests and trails and subsequent charges, convictions and guilty pleas. Lopez and Full Play were found guilty on charges of wire fraud conspiracy and money laundering conspiracy in March 2023. Lopez faced up to 40 years in prison and millions of dollars in penalties. Full Play was expected to face millions of dollars in fines. Before the convictions of Lopez and Full Play, the court had heard that the main beneficiaries of the kickback scheme were six of the most powerful men in South American football. They included former CONMEBOL president Nicolas Leoz, who died in 2019, former Argentine football executive Julio Grondona, who died in 2014, and former Brazilian football chief Ricardo Teixeira.
Arab News
02-07-2025
- Arab News
Convictions in FIFA corruption case reinstated: court
Hernan Lopez, a former executive with 21st Century Fox, and marketing firm Full Play, had been acquitted on appealAn appeals court on Wednesday found that the decision to acquit on appeal had been erroneous NEW YORK: A United States appeals court on Wednesday reinstated the convictions of a former Fox broadcasting executive and an Argentine sports-marketing firm involved in the FIFA corruption Lopez, a former executive with 21st Century Fox, and marketing firm Full Play, had been acquitted on appeal following their conviction in 2023 after a judge cited precedent from a US Supreme Court an appeals court in New York on Wednesday found that the decision to acquit on appeal had been erroneous, citing a misreading of the law surrounding federal wire fraud.'We hold that the district court erred in concluding that defendants' conduct did not fall within the scope of Statute 1346,' a ruling said.'Therefore, we vacate the district court's judgments,' the Second Circuit Court of Appeals ruled, remanding the case for 'further proceedings pursuant to this opinion.'Lopez and Full Play's case was was one of several to emerge from the 2015 probe from the US Justice Department which rocked world soccer's governing body FIFA and continental confederations for South and North US investigation, which included raids on FIFA officials in Zurich, led to a series of arrests and trails and subsequent charges, convictions and guilty and Full Play were found guilty on charges of wire fraud conspiracy and money laundering conspiracy in March faced up to 40 years in prison and millions of dollars in penalties. Full Play was expected to face millions of dollars in the convictions of Lopez and Full Play, the court had heard that the main beneficiaries of the kickback scheme were six of the most powerful men in South American included former CONMEBOL president Nicolas Leoz, who died in 2019, former Argentine football executive Julio Grondona, who died in 2014, and former Brazilian football chief Ricardo Teixeira.
BreakingNews.ie
10-06-2025
- Business
- BreakingNews.ie
Disney to pay £323.6m to take full control of streaming service Hulu
Disney will pay Comcast's NBCUniversal nearly 439 million dollars (£323.6 million) for its stake in Hulu, taking full control of the streaming service. The move closes out an appraisal process that has dragged on for a few years. Advertisement Disney said in November 2023 that it was acquiring a 33% stake in Hulu from Comcast for at least 8.6 billion (£6.34 billion). That amount reflected Hulu's guaranteed floor value of 27.5 billion dollars (£20.2 billion), according to a regulatory filing. Disney has run Hulu since 2019, when Comcast ceded its authority to Disney and effectively became a silent partner. Hulu began in 2007 and quickly evolved into as a service backed by entertainment conglomerates who hoped to stave off the internet with an online platform for their own TV shows. Advertisement Disney joined in 2009, planning to offer shows from ABC, ESPN and the Disney Channel. A decade later, Disney gained majority control of the business when it acquired 21st Century Fox. The entertainment giant said on Monday that its appraiser arrived at a valuation below the guaranteed floor value during the initial phase of the appraisal process, while NBCUniversal's appraiser arrived at a valuation substantially in excess of the guaranteed floor value. A third appraiser was brought in and concluded that The Walt Disney Co will pay 438.7 million dollars (£323.6 million) for the Hulu stake. 'We are pleased this is finally resolved. We have had a productive partnership with NBCUniversal, and we wish them the best of luck,' Disney chief executive Bob Iger said in a statement. Advertisement 'Completing the Hulu acquisition paves the way for a deeper and more seamless integration of Hulu's general entertainment content with Disney+ and, soon, with ESPN's direct-to-consumer product, providing an unrivalled value proposition for consumers.' The transaction is anticipated to close by July 24. It is not expected to impact Disney's fiscal 2025 adjusted earnings forecast. Shares in Disney rose slightly in morning trading on Tuesday.
