GamingFOS PM: SoftBank Could Lose $74B

FOS PM: SoftBank Could Lose $74B


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The terms of the $26 million sale of Cristiano Ronaldo to Manchester United are reportedly under investigation. Juventus officials say Italian prosecutors have ordered a search of its offices and are looking into the Serie A club’s financial accounting.
A Federal Trade Commission action to block a merger between Nvidia and Arm could cost SoftBank $74 billion.
The deal, agreed to in September 2020, would bring one of the world’s largest providers of chip technology, SoftBank-owned Arm, under the umbrella of a global leader in chip manufacturing.
Nvidia is a major provider of gaming hardware and software, offering graphics cards, gaming laptops, and gaming cloud software. Revenue from its gaming division rose 42% year-over-year in the third quarter to $3.2 billion.
The FTC said the merger would threaten Arm’s status as a neutral partner to chip producers. Arm estimated that its software is used in 25 billion chips per year.
“The combined firm would have the means and incentive to stifle innovative next-generation technologies,” the regulator wrote.
Nvidia, however, said that the merger would promote competition in the chip industry — and that the company would challenge the FTC suit.
SoftBank’s Vision Fund 2 has invested at least $2.6 billion in sports and entertainment this year, and its Fortress Investment Group bought Accordia Golf for $3.5 billion last month.
Nathan Papes/Springfield News-Leader/Design: Alex Brooks
Outdoor sporting goods retailer Sportsman’s Warehouse and Great Outdoors Group, the parent company of Bass Pro Shops, have terminated plans of a merger, according to a regulatory filing.
Great Outdoors first agreed to acquire Sportsman’s Warehouse in December 2020 for roughly $800 million. The merger is now off following feedback from the Federal Trade Commission indicating the two companies would not receive clearance to close the deal.
As a result, Great Outdoors will pay a $55 million termination fee to Sportsman’s Warehouse.
It is believed the deal would not be approved due to a call for regulators to boost competition across all industries following an executive order signed in July by President Joe Biden.
The regulatory pushback adds to a turbulent financial year for Sportsman’s Warehouse, which has a market value of $743 million.
A privately held company, Great Outdoors generated $7.1 billion in revenue in the 12 months ended Sept. 26, 2020, according to investor service Moody’s. Great Outdoors merged with Cabela’s in 2017 in a deal valued at $4 billion.

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