Latest news with #ForthWorth
Yahoo
2 days ago
- Business
- Yahoo
SEGG Media Shares Additional Details on Strategic Investment into Veloce Media Group
A Media Snippet accompanying this announcement is available by clicking on this link. FORT WORTH, Texas, July 17, 2025 (GLOBE NEWSWIRE) -- SEGG Media Corporation, formerly Inc, (NASDAQ: SEGG, LTRYW) ('SEGG Media' or the 'Company'), a leading technology company transforming the global intersection of sports, entertainment and gaming today releases additional details on its investment in Veloce Media Group. Coupled with the acquisition of Quadrant through Veloce, it marks one of the most consequential weeks in SEGG Media's expansion playbook. The Veloce investment is being managed through a division of SEGG Media. Quadrant Acquisition Ignites Exponential Growth Trajectory On July 12, 2025, Veloce Media Group finalized its acquisition of majority control in Quadrant, a creator-led content, motorsport and apparel brand co-founded by Formula 1 driver Lando Norris. The transaction strengthens Veloce's digital presence and extends control of Norris' license to Quadrant through to 2027. With Norris reinvesting as a significant shareholder, the Formula 1 star retained over 20% in Quadrant, as well as gaining equity in Veloce. Quadrant already boasts a strong cap table, with notable shareholders including McLaren Racing CEO Zak Brown. This complements the existing Veloce investor group featuring Animoca Brands, Darryl Eales (former CEO of Lloyds Development Capital), the UK Government Future Fund, and Adrian Newey, who acts as the leading visionary for Veloce's racing initiatives. SEGG Media's Timing and Investment Mechanics SEGG Media entered into a Subscription Agreement for $7.59 million, payable in two tranches, which will result in the Company having 12.4% ownership stake in Veloce. Proceeds from the initial tranche funded the Quadrant acquisition. Additionally, the Company entered into a Call Option Agreement which, when exercised, will allow the Company to reach 51% ownership of Veloce, resulting in Controlling Interest and financial reporting consolidation. Details of the transaction are outlined in a Form 8-K filed on July 16, 2025 which can be found at or Leadership Statements 'Between the Quadrant deal and our strategic investment in Veloce, SEGG Media has delivered a blockbuster week. We're aligning organic growth, roster-level talent like Lando Norris, and digital scale to build a dominant motorsport-media platform. With Veloce's content network and creative energy, powered by Quadrant's global reach, we're well-positioned for commercial acceleration across F1, IndyCar, NASCAR, and beyond.' 'Veloce's acquisition of Quadrant—and the vote of confidence from SEGG Media for 51%—validates our digital-first, fan-led approach. With this backing, we can scale the business and build deeper audience connections like never before.' What This Means for Investors and the Market Revenue Acceleration: Veloce's recent revenue growth is projected to continue. For the fiscal year ended June 2024, Veloce reported $17.5 million in revenue and $1.14 million in EBITDA. Celebrity and Brand Impact: Lando Norris joins as a major equity holder; notable group shareholders include Zak Brown, Adrian Newey, Animoca, Darryl Eales, and UK Future Fund. Massive Media Reach: Veloce boasts 55 million subscribers across its digital network and delivers 750 million monthly views – it now also inherits Quadrant's engaged motorsport community, multiplying commercial leverage. About SEGG Media CorporationSEGG Media (Nasdaq: SEGG, LTRYW) is a global sports, entertainment and gaming group operating a portfolio of digital assets including and Focused on immersive fan engagement, ethical gaming and AI-driven live experiences, SEGG Media is redefining how global audiences interact with the content they love. For additional information, visit or contact media relations at media@ Forward-Looking Statements This press release contains statements that constitute 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, regarding the Company's strategy, future operations, prospects, plans and objectives of management, are forward-looking statements. When used in this Form 8-K, the words 'could,' 'should,' 'will,' 'may,' 'believe,' 'anticipate,' 'intend,' 'estimate,' 'expect,' 'project,' 'initiatives,' 'continue,' the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management's current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. The forward-looking statements speak only as of the date of this press release or as of the date they are made. The Company cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of the Company. In addition, the Company cautions you that the forward-looking statements contained in this press release are subject to risks and uncertainties, including but not limited to: the Company's ability to secure additional capital resources; the Company's ability to continue as a going concern; the Company's ability to complete acquisitions; the Company's ability to remain in compliance with Nasdaq Listing Rules; and those additional risks and uncertainties discussed under the heading 'Risk Factors' in the Form 10-K/A filed by the Company with the SEC on April 22, 2025, and the other documents filed, or to be filed, by the Company with the SEC. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in the reports that the Company has filed and will file from time to time with the SEC. These SEC filings are available publicly on the SEC's website at Should one or more of the risks or uncertainties described in this press release materialize or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Except as otherwise required by applicable law, the Company disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. This press release was published by a CLEAR® Verified in to access your portfolio
Wall Street Journal
5 days ago
- Business
- Wall Street Journal
America's Biggest Rare-Earth Producer Makes a Play to End China's Dominance
FORT WORTH—At an industrial site in this Texas city, men dressed in head-to-toe protective gear dip giant ladles into a well of molten metal heated to 1,800 degrees Fahrenheit. They're making something the U.S. has hardly, if ever, produced at commercial scale in recent decades: rare-earth metals. The factory is the most visible mark of MP Materials' MP 7.56%increase; green up pointing triangle high-stakes, billion-dollar bet that an American company can take on China's dominance over the metals—and the magnets they power in everything from cars and smartphones to missile systems.
Al Arabiya
5 days ago
- Business
- Al Arabiya
Lockheed clears 72 jet backlog of F-35s parked over late software improvements
Lockheed Martin has delivered F-35 jets parked at its Forth Worth, Texas plant to the US government as of May 1 after several months of delay due to late software improvements, according to the Pentagon's program office. The Defense Department was withholding as much as $5 million in final payment per aircraft until the company demonstrates that the software and hardware upgrade — known as Technology Refresh 3, or TR-3 — can support intense training missions and eventual full combat operations. Lockheed Martin delivered 72 jets, the program office told Bloomberg News after months of declining to reveal the number. Clearing the backlog is a public relations win for the world's leading defense contractor and the most expensive weapons program. Pentagon officials had reduced the number of Air Force, Navy, and Marine Corps jets requested in the fiscal 2026 budget from 75 to 47, citing higher costs to maintain readiness levels. The Pentagon said it reduced the amount it's withholding by about $1.2 million per plane in January as Lockheed Martin was assessed to be making some progress with the software. However, the 'bulk of funds are currently withheld and will continue to be released incrementally' into next year even if several criteria for releasing them have been met, the program office said in statement. Funds continue to be withheld for new production aircraft, it said. 'It was good the program is still holding back money until the complete TR-3 is delivered to each aircraft,' said Jon Ludwigson, a director for national security contracting with the Government Accountability Office who oversees the agency's F-35 work. Still, he said parking the unfinished aircraft at the contractor's site posed considerable challenges, and delays with delivering full TR-3 capabilities also slowed down key upgrades and other improvements 'promised to the warfighters.' 'It will take time to get back on planned schedules for the program,' Ludwigson said. A Lockheed Martin spokesperson declined to discuss the F-35 deliveries as the company is in a quiet period before reporting second-quarter earnings.
Globe and Mail
11-07-2025
- Business
- Globe and Mail
FirstCash Announces Settlement of CFPB Litigation Related to Military Lending Act
FORT WORTH, Texas, July 11, 2025 (GLOBE NEWSWIRE) -- FirstCash Holdings, Inc. ('FirstCash' or the 'Company') (Nasdaq: FCFS), a leading international operator of over 3,000 retail pawn stores in the U.S. and Latin America, today announced that it has reached a settlement with the Consumer Financial Protection Bureau ('CFPB') regarding alleged violations of the Military Lending Act. Rick Wessel, CEO of FirstCash, stated, "We are pleased to have reached this agreement with the CFPB. While we disagree with the CFPB's allegations regarding our military lending practices, we believe that agreeing to this settlement and putting this matter behind us is the best path forward for the Company. We remain committed to best meeting the needs of our customers, including members of the military and their families, and to continue providing excellent service.' As part of the settlement, which remains subject to final court approval, FirstCash has agreed to offer a new pawn lending product for covered members of the U.S. military and their immediate families and dependents. Additionally, the Company will pay consumer redress in fees or principal returned to affected customers, which is estimated to be between $5 million and $7 million, and a $4 million fine to the CFPB victims relief fund. The financial impact of the settlement will be reflected in the Company's GAAP financial results for the second quarter of 2025. About FirstCash FirstCash is a leading international operator of pawn stores focused on serving cash and credit-constrained consumers. FirstCash's more than 3,000 pawn stores in the U.S. and Latin America buy and sell a wide variety of jewelry, electronics, tools, appliances, sporting goods, musical instruments and other merchandise, and make small non-recourse pawn loans secured by pledged personal property. FirstCash's pawn segments in the U.S. and Latin America currently account for approximately 80% of annualized segment earnings, with the remainder provided by its wholly owned subsidiary, AFF, which provides lease-to-own and retail finance payment solutions for consumer goods and services. FirstCash is a component company in both the Standard & Poor's MidCap 400 Index® and the Russell 2000 Index®. FirstCash's common stock (ticker symbol ' FCFS ') is traded on the Nasdaq, the creator of the world's first electronic stock market. For additional information regarding FirstCash and the services it provides, visit FirstCash's websites located at and
Yahoo
11-07-2025
- Business
- Yahoo
FirstCash Announces Settlement of CFPB Litigation Related to Military Lending Act
FORT WORTH, Texas, July 11, 2025 (GLOBE NEWSWIRE) -- FirstCash Holdings, Inc. ('FirstCash' or the 'Company') (Nasdaq: FCFS), a leading international operator of over 3,000 retail pawn stores in the U.S. and Latin America, today announced that it has reached a settlement with the Consumer Financial Protection Bureau ('CFPB') regarding alleged violations of the Military Lending Act. Rick Wessel, CEO of FirstCash, stated, "We are pleased to have reached this agreement with the CFPB. While we disagree with the CFPB's allegations regarding our military lending practices, we believe that agreeing to this settlement and putting this matter behind us is the best path forward for the Company. We remain committed to best meeting the needs of our customers, including members of the military and their families, and to continue providing excellent service.' As part of the settlement, which remains subject to final court approval, FirstCash has agreed to offer a new pawn lending product for covered members of the U.S. military and their immediate families and dependents. Additionally, the Company will pay consumer redress in fees or principal returned to affected customers, which is estimated to be between $5 million and $7 million, and a $4 million fine to the CFPB victims relief fund. The financial impact of the settlement will be reflected in the Company's GAAP financial results for the second quarter of 2025. About FirstCash FirstCash is a leading international operator of pawn stores focused on serving cash and credit-constrained consumers. FirstCash's more than 3,000 pawn stores in the U.S. and Latin America buy and sell a wide variety of jewelry, electronics, tools, appliances, sporting goods, musical instruments and other merchandise, and make small non-recourse pawn loans secured by pledged personal property. FirstCash's pawn segments in the U.S. and Latin America currently account for approximately 80% of annualized segment earnings, with the remainder provided by its wholly owned subsidiary, AFF, which provides lease-to-own and retail finance payment solutions for consumer goods and services. FirstCash is a component company in both the Standard & Poor's MidCap 400 Index® and the Russell 2000 Index®. FirstCash's common stock (ticker symbol 'FCFS') is traded on the Nasdaq, the creator of the world's first electronic stock market. For additional information regarding FirstCash and the services it provides, visit FirstCash's websites located at and For further information, please contact: Gar JacksonGlobal IR GroupPhone: (817) 886-6998Email: gar@ Doug Orr, Executive Vice President and Chief Financial OfficerPhone: (817) 258-2650Email: investorrelations@ while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
