Wall St. Legend: Millions of Americans About to Fall Out of the 1%

Wall Street insider reveals the financial tidal wave about to knock millions of Americans out of the One Percent. Predicts it will be far worse for everyone else. Warns EVERYONE to seek higher ground now!

Judge overseeing NFL 'Sunday Ticket' trial voices frustrations over the case

JOE REEDY
June 18, 2024

LOS ANGELES (AP) -- The federal judge presiding over the class-action lawsuit filed by "Sunday Ticket" subscribers against the NFL voiced frustrations Tuesday with the way the plaintiffs' attorneys have handled their side of the case.

Before Dallas Cowboys owner Jerry Jones took the stand Tuesday for a second day of testimony, U.S. District Judge Philip Gutierrez said the premise of the case was simple -- who wouldn't see the frustration of a Seattle Seahawks fan living in Los Angeles not being able to see their favorite team without buying a subscription for all the Sunday afternoon out-of-market games.

"The way you have tried this case is far from simple," Gutierrez told attorneys representing the subscribers. "This case has turned into 25 hours of depositions and gobbledygook. ... This case has gone in a direction it shouldn't have gone."

The class-action, which covers 2.4 million residential subscribers and 48,000 businesses who paid for the package of out-of-market games from the 2011 through 2022 seasons, claims the league broke antitrust laws by selling its package of Sunday games aired on CBS and Fox at an inflated price. The subscribers also say the league restricted competition by offering "Sunday Ticket" only on a satellite provider.

The NFL maintains it has the right to sell "Sunday Ticket" under its antitrust exemption for broadcasting. The plaintiffs say that only covers over-the-air broadcasts and not pay TV.

If the NFL is found liable, a jury could award $7 billion in damages, but that number could balloon to $21 billion because antitrust cases can triple damages.

Tuesday was not the first time Gutierrez has expressed frustration with the plaintiffs' side. On Monday, he admonished their attorneys for repeatedly describing past testimony, which he considered a waste of time.

Before Jones resumed his testimony, Gutierrez expressed doubts about plaintiffs' attorneys citing Jerry Jones' lawsuit against the NFL in 1995, which challenged the league's licensing and sponsorship procedures.

"I don't know what you are doing, but marketing is not media," Gutierrez said.

Later in his testimony, Jones said he sued the NFL because the league sued him. Both sides eventually settled out of court.

Jones' filing against the NFL in 1994 said he supported the league's model for negotiating television contracts and the revenue-sharing agreements in place.

When asked Tuesday if teams should be able to sell their out-of-market television rights, Jones said no because "it would undermine the free TV model we have now."

Retired CBS Sports chairman Sean McManus also testified, reiterating during his testimony that he was a not fan of "Sunday Ticket" or the NFL's Red Zone channel because he believes it infringes on the exclusivity CBS has in local markets.

CBS and Fox both requested in negotiations that "Sunday Ticket" be sold as a premium package. DirecTV, and not the NFL, set the prices during the class-action period.

The league has language in television contracts with CBS and Fox that the "resale packages (Sunday Ticket) are to be marketed as premium products for avid league fans that satisfy complementary demand to the offering of in-market games."

There is additional language that prohibits the selling of individual games on a pay-per-view basis.

The NFL received a rights fee from DirecTV for the package from 1994 through 2022. Google's YouTube TV acquired "Sunday Ticket" rights for seven seasons, beginning last year.

Jamie Dyckes, a DirecTV marketing official, said during a deposition that MLB, the NBA and the NHL had a suggested retail price for their out-of-market packages and that there was revenue sharing between the leagues and the carriers, since their packages were distributed on multiple platforms.

Testimony will continue Thursday, with closing statements scheduled early next week. Gutierrez said he would consider invoking a rule where the court can find that a jury does not have sufficient evidence to rule for a party in a case.

"I'm struggling with the plaintiffs' case," he said.

___

AP NFL: https://apnews.com/hub/nfl

Continue Reading...

Popular

Trump Reportedly Makes Decision On VP Pick, Says Running Mate Will Be At Debate

Former President Donald Trump has made a decision on his vice presidential nominee for the forthcoming election.

Top 2 Utilities Stocks That May Rocket Higher In June

The most oversold stocks in the utilities sector presents an opportunity to buy into undervalued companies.

The Nanotech Startup on a Mission to Save Millions of Lives - Ad

With a groundbreaking technology that repels deadly pathogens, this tiny company is taking on the global threat. Their innovative approach could transform infection control forever.

Trump Vs. Biden: Latest Poll Results In Key State Of Virginia Spells Trouble For One Candidate And His Party

A recent poll shows a tie between President Joe Biden and former President Donald Trump in Virginia, a state that has been under Democratic control for the last two decades.

After Conviction, There Could Be More Bad News for Trump - Ad

Former advisor to the CIA, the Pentagon and the White House Jim Rickards just dropped this Trump election bombshell. For the sake of our country...I hope he's wrong. Because if he's right, you need to prepare now.

Will Your iPhone Support New Apple Intelligence Features? Here's What You Need To Know

Apple has announced a suite of AI-powered features for iPhones, calling it Apple Intelligence. However, these features will be limited to select iPhones.

UAW President Shawn Fain Under Federal Scrutiny For Alleged Retaliation Against Union Leaders, Monitor's Probe Widens

Shawn Fain, the president of the United Auto Workers, is under investigation by an independent federal monitor for alleged retaliation against other union leaders.

Warren Buffett's "Mystery Stock" - Ad

Billionaires are plowing millions of dollars into a new technology that early estimates say could generate more wealth than A.I. -- and determine the future of companies like Microsoft. The problem? Most investors have no idea it's happening, or how to profit on it. This expert just went public with all the details, including which stocks to jump on immediately.

General Motors Adjusts EV Production Target, Resumes Cruise Operations In Houston

GM's Cruise resumes operations in Houston. The company adjusted its EV production target; approved $6B stock buyback.

Discover "U.S.'s New Money" Before Biden Wins - Ad

A new form of money has emerged in America, and it's making some folks wildly rich... (Musk and Bezos both use it). Find out how you can too in this free video.

Florida jury finds Chiquita Brands liable for Colombia deaths, must pay $38.3M to family members

Banana giant Chiquita Brands must pay $38.3 million to 16 family members of people killed during Colombia's long civil war by a violent right-wing paramilitary group funded by the company, a federal jury in Florida decided.

Big Tech Is Spending Billions Each Month on This AI Superproject - Ad

Big Tech is committing billions each month to the construction of these AI mega data centers. This is where Nvidia, comes in. It's quietly leaning on a set of what we call Silent Partners to get the job done. These companies could benefit greatly from this next wave of the AI boom.

Boeing Insists On Adherence To Legal Agreement Post-737 MAX Crashes: Report

Boeing reportedly maintains it adhered to a 2021 agreement aimed at avoiding prosecution after the 737 MAX incidents, countering U.S. claims of non-compliance. The company's commitment to transparent engagement highlights its efforts to navigate legal complexities ahead of the Justice Department's crucial July 7 decision on extending prosecution terms.

Wall Street's Most Accurate Analysts Weigh In On 3 Energy Stocks With Over 6% Dividend Yields

During times of turbulence and uncertainty in the markets, even when markets are at all-time highs, many investors turn to dividend-yielding stocks.

The Mysterious Tale of "America's No. 1 Retirement Stock" - Ad

This factory of 53,000 employees, in Burbank, CA, was camouflaged to look like a sleepy suburb (with the help of artists, set designers, and painters from nearby Hollywood movie studios). The mysterious company behind this disappearing act is now being called "America's No. 1 Retirement Stock".

Wall Street Holds Breath After Record Close For Fed Decision, CPI Data: Why This Analyst Sees Positive Inflation Trends Ahead

U.S. stock futures point to a weak start on Tuesday, signaling a pause after Monday’s record run. Global cues are negative and commodity prices weakened as well.

General Motors Reveals $6B Stock Buyback - What's Going On?

General Motors announces a $6 billion share repurchase plan, aiming to boost shareholder value amidst positive financial performance.

Amazon's Betting Big on This Unknown AI Company - Ad

Amazon has just made a stunning $144 million investment in one small AI company. Why? Because this under-the-radar firm holds the key to unleashing the full potential of next-gen AI... Its technology is crucial for the most advanced AI chips, including Nvidia's latest breakthrough.

Ecuador stops waiving visas for Chinese nationals because of an increase in irregular migration

QUITO, Ecuador (AP) — Ecuador on Tuesday announced the suspension of an agreement with China that had waived visas for Chinese citizens traveling to the South American country, citing a “worrying” increase in irregular migration.

'Bombshell' Presentation Exposes Dark Side of Tech Billionaires - Ad

Blistering presentation exposes dark underbelly of Big Tech; their control over the economy and what you can do about it. If you watch just one presentation this year, make sure it's this one.

Colorado's Youth Cannabis Use Hits Historic Lows, Survey Finds

Colorado's latest survey shows declining youth cannabis use alongside broader shifts in risky behaviors and mental health improvements.

Fresh EU Tariffs Could Slow Down Tesla Chinese Rivals, But Warren Buffett-Backed BYD 'Can Profitably Export Even At A 35% Tariff,' Says Expert

The European Union has introduced new tariffs on electric vehicles manufactured in China, a move that could pose challenges for Chinese automakers. However, companies like BYD are expected to remain competitive.

This Billionaire's Final Masterpiece: "X-9840" - Ad

The investment legend who predicted the rise of Bitcoin, Facebook and streaming services like Netflix... Just released the details on what he's calling Project X-9840. This business mogul is now set to revolutionize MONEY. He has said he could flip the switch "as early as mid 2024."

Shiba Inu, Ethereum, Chainlink Flash This 'Long-Term Bullish Signal' Despite Recent Drop

While the cryptocurrency market edged lower Thursday, several of the most popular coins showed a strong bullish indication. What Happened: Ethereum, Shiba Inu, and Chainlink endured significant losses during the day, as indicated below. 

Claim Your Free "AI Income Playbook" Now! - Ad

Income expert Marc Lichtenfeld has a special gift reserved just for you... It's his brand-new "AI Income Playbook" - and it's yours FREE! Inside, you'll discover how to tap the unlimited profit potential of artificial intelligence... With three explosive AI stocks that are handing out monster dividends like clockwork.

Powerball Winnings Gone: What Happens To Unclaimed Lottery Tickets

Powerball winners often take home tens to hundreds of millions of dollars. Tickets that are lost or not claimed in time end in a different result.

Tesla's Chinese Rival NIO Unveils Fourth-Generation Battery Swap Stations With Nvidia Chips, Multi-Brand Support: Report

NIO debuts advanced fourth-gen battery swap stations with NVIDIA chips, enabling autonomous capabilities and faster service, revolutionizing electric vehicle charging infrastructure in China.

What Is Nvidia's New $1 Trillion Superproject? - Ad

While most are still focused on Nvidia's recent performance, they're missing this massive, $1 trillion pivot Nvidia's making right now. But it's what's happening behind the scenes that should be most exciting for investors. We've identified three companies that Nvidia needs to lean on to help get the job done.

Supreme Court rules California man can't trademark 'Trump too small'

WASHINGTON (AP) — The on Thursday ruled against a man who wants to “Trump too small.”

Thousands of drivers file arbitration claims against Amazon for unpaid wages and other losses

NEW YORK (AP) — Thousands of delivery drivers filed legal claims against on Tuesday, alleging the company’s classification of them as independent contractors instead of employees has led to unpaid wages and other financial losses.

5 Wall Street Legends Just Bought This One Stock - Ad

"If you're not at the table, you're on the menu," says former Goldman Sachs VP, Dr. David Eifrig.

This Biopharma Stock Is Trading 23% Higher In Pre-Market After Wrapping Up $4M Public Offering

The public offering included 1,199,448 shares of common stock and pre-funded warrants to purchase up to 2,568,110 shares of common stock.

Sprint great Michael Johnson launching 'Grand Slam Track' league with $100K first prizes

Sprinting great Michael Johnson is launching a track league that looks to assemble nearly 100 of the sport's top performers four times a year to compete for $12.6 million in prize money over its first season.

America's 'Silent Invasion' - Is Your Town in the Crosshairs? - Ad

A silent invasion is happening all over America. It has nothing to do with the border but will end with even more disastrous results. Why? A faceless entity is coming by air, rail, port, and highway. What does it mean for you and your money? There's still time to prepare, but you must act today.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright systemtrading.ca
Privacy Policy | Terms of Service