🎥 Things Are About To Change In Hollywood...

Good morning. US stock futures ticked higher in Wednesday morning trading as stock market indexes closed in on record highs.

📽️ Mega Hollywood studio moves toward acquisition

📝 Our report: Lights, camera, acquisition! Shari Redstone's National Amusements is set to sell its controlling stake in Paramount Global to David Ellison's Skydance Media, insiders revealed to Reuters. The unexpected development comes just weeks after Redstone abruptly ended talks with tech scion Ellison's Skydance and began engaging with other potential buyers.

 🔑 Key points:

• Under the tentative agreement, Skydance would pay $1.75 billion for National Amusements, which owns 77% of the voting shares of Paramount.

• Other bidders that had expressed interest in acquiring National Amusements include film producer Steven Paul, Seagram heir Edgar Bronfman Jr. and IAC's Barry Diller.

• The National Amusements sale is envisioned as the first part of a two-phase transaction, in which the smaller independent studio Skydance would merge with Paramount, home of the namesake film studio, CBS and cable networks such as MTV and Nickelodeon.

💡 So what: Skydance Media's acquisition of Paramount Studios could significantly reshape the entertainment landscape. The deal would give Skydance access to Paramount's vast content library, enhancing its production capabilities and market influence. It might lead to more integrated film and TV projects, leveraging both companies' strengths. Additionally, this move could intensify competition in the media industry, potentially sparking further mergers and acquisitions. For consumers, it might mean more diverse and high-quality content.

Wednesday - U.S. Trade Deficit, Minutes of Fed's June FOMC Meeting

Thursday - US Independence Day Holiday

Friday - New York Fed President John Williams Speaks, US Unemployment Rate

📈 6 investing lessons from Ken Griffin

💸 How much cash should you hold? Here’s what experts say

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💊 Big Pharma firm gets approval for Alzheimer’s drugs

WHAT: The US Food and Drug Administration has greenlit Eli Lilly's donanemab for early Alzheimer's, making it the second approved drug to slow the brain-wasting disease. The drug, which will be sold under the brand name Kisunla, has been cleared for use in adults with mild cognitive impairment or early Alzheimer’s disease, the drugmaker said.

WHY: The approval for the drug branded Kisunla is in line with the recommendations of the agency's outside experts who unanimously backed the use of the drug in patients with early Alzheimer's disease, saying that the benefits of the drug outweighed its risks.

🤖 Brazil bans Meta from accessing data to train AI models

WHAT: Brazil’s data protection authority has banned Meta from using data from the country to train its AI. The decision stems from “the imminent risk of serious and irreparable or difficult-to-repair damage to the fundamental rights of the affected data subjects,” the agency said in the nation’s official gazette.

WHY: Brazil is one of Meta's biggest markets. Facebook alone has around 102 million active users in the country, the agency said in a statement. The nation has a population of 203 million, according to the country’s 2022 census.

🪙 Crypto company lands govt contract

WHAT: Coinbase, America's largest registered crypto exchange, just landed a $32.5 million gig with the U.S. Marshals Service to handle custody and trading of its digital assets. The U.S. Marshals Service is a federal agency dealing with asset forfeiture, including the forfeiture of crypto assets, making crypto custody and the security of its seized digital assets an essential part of its mission.

WHY: The U.S. government remains the largest holder of crypto at the nation-state level, holding over $13.8 billion in cryptocurrency, according to Arkham Intelligence.

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