Paul, Tyson struggle breaks file for largest non-Vegas boxing gate

(L-R) Mike Tyson, Nakisa Bidarian and Jake Paul pose onstage during the Jake Paul vs. Mike Tyson Boxing match press conference at Texas Live! in Arlington, Texas, on May 16, 2024.

Cooper Neill | Getty Images

The highly anticipated boxing match between Jake Paul and Mike Tyson has already secured its place in the record books.

The fight’s promoter, Most Valuable Promotions, which is co-owned by Paul, told CNBC it expects more than 70,000 people to be in attendance to the Friday night bout at AT&T Stadium in Arlington, Texas. The Dallas Cowboys’ stadium has a seating capacity of 80,000.

The gate receipts alone have brought in $17.8 million in revenue, the promoter said.

That makes it the biggest boxing gate in history outside of Nevada. The previous record was $9 million in gate receipts for the 2021 fight between Canelo Álvarez and Billy Joe Saunders at AT&T Stadium.

MVP said the gate is also higher than any non-Las Vegas UFC fight, other than Conor McGregor versus Eddie Alvarez in New York City in 2016.

Nakisa Bidarian, co-founder of MVP, told CNBC’s “Closing Bell” that both Tyson and Paul will be making eight figures from this fight and Taylor and Serrano will also be having record paydays for women’s boxing.

The fight between Paul, a 27-year-old YouTube influencer-turned-boxer and Tyson, a 58-year-old boxing legend, will air Friday at 8 p.m. ET on Netflix, free to subscribers.

The event will also feature one of the most anticipated women’s boxing rematches in history: undisputed super lightweight champion Katie Taylor versus unified featherweight champion Amanda Serrano.

Netflix has upward of 283 million paid memberships in more than 190 countries. The bout will also be a test for the streamer as it ventures deeper into the sports space and as boxing sidesteps the pay-per-view model.

“Numbers don’t lie,” Paul said Wednesday at a press conference for the fight. “People want to see this and that’s an amazing accomplishment. … This is a statement that we had the biggest live gate outside of Vegas in U.S. boxing history.”

Tickets for the fight on Friday range on StubHub from about $58 to $1,500. MVP has also sold higher-end packages, including a $2 million VIP experience that comes with ringside seats. The promotions company says its 375 VIP seats have officially sold out.

For comparison, Vegas’ biggest fight in history took place in 2015 between Floyd Mayweather Jr. and Manny Pacquiao. That fight took in more than $72 million in tickets, according to the Las Vegas Review-Journal.

Trump picks RFK Jr. for Well being and Human Companies secretary

President-elect Donald Trump said Thursday that he will nominate vaccine skeptic and conspiracy theorist Robert F. Kennedy Jr. as secretary of the Health and Human Services Department.

If the Senate approves Kennedy, the former independent presidential candidate will lead a sprawling department responsible for the huge Medicare and Medicaid health coverage programs, the Food and Drug Administration, the National Institutes of Health, and the Centers for Disease Control and Prevention.

HHS’s decisions on spending and policies have major effects on the U.S. health-care system and related businesses.

Kennedy, 70, is the son of Robert F. Kennedy, the late U.S. attorney general and Democratic senator from New York who was assassinated in 1968 by a gunman in Los Angeles as he ran for president. He is the nephew of former President John Kennedy who was assassinated in 1963.

Trump said in October that if elected he would let Kennedy “go wild on health.”

“I am thrilled to announce Robert F. Kennedy Jr. as The United States Secretary of Health and Human Services,” Trump wrote in a post on his Truth Social site Thursday.

“For too long, Americans have been crushed by the industrial food complex and drug companies who have engaged in deception, misinformation, and disinformation when it comes to Public Health,” Trump wrote.

“The Safety and Health of all Americans is the most important role of any Administration, and HHS will play a big role in helping ensure that everybody will be protected from harmful chemicals, pollutants, pesticides, pharmaceutical products, and food additives that have contributed to the overwhelming Health Crisis in this Country.”

Kennedy told NBC News in a recent interview that Trump has said he wants Kennedy to “clean up corruption” at federal health agencies, return those agencies to science-based policies and “make America healthy again.” Kennedy said that “there are entire departments, like the nutrition department at the FDA, that have to go.”

Stock prices of vaccine makers fell earlier Thursday on reports that Trump would tap Kennedy for the HHS post.

Kennedy last year suggested that the Covid-19 virus, which CDC played a major role in combatting, was engineered to “attack Caucasians and Black people,” and to be less likely to harm “Ashkenazi Jews and Chinese” people.

He previously promoted theories that autism was linked to childhood vaccines, a connection that has been disproved.

Kennedy outraged many of his siblings by endorsing Trump in August after abandoning his long-short presidential candidacy.

Trump’s selection of Kennedy came a day after the Republican president-elect tapped Florida Rep. Matt Gaetz as attorney general.

Gaetz’s selection immediately sparked controversy due in large part to the fact that the Department of Justice, which he would lead as AG, previously investigated him for possible sex trafficking of a 17-year-old girl. Gaetz resigned from Congress effective Thursday, removing him from the jurisdiction of the House Ethics Committee, but a number of Republican senators have called on that panel to release a report of its investigation of the former lawmaker.

Kennedy last week reportedly suggested he would fire 600 NIH workers and replace them.

His “Make America Healthy” website has been seeking suggestions from the public for more than 4,000 appointee posts across the federal government to be filled by Trump.

Senate Finance Committee Chairman Ron Wyden, D-Ore., blasted Kennedy in a statement.

“Mr. Kennedy’s outlandish views on basic scientific facts are disturbing and should worry all parents who expect schools and other public spaces to be safe for their children,” Wyden said. “When Mr. Kennedy comes before the Finance Committee, it’s going to be very clear what Americans stand to lose under Trump and Republicans in Congress.” 

Another Democrat, Sen. Patty Murray of Washington, said “Donald Trump’s selection of a notorious anti-vaxxer to lead HHS could not be more dangerous — this is cause for deep concern for every American.”

“There is no telling how far a fringe conspiracy theorist like RFK Jr. could set back America in terms of public health, reproductive rights, research and innovation, and so much else.”

Sen. John Thune of South Dakota, who will become Senate majority leader in January when Republicans take control of the chamber, said he did not have any reaction to Kennedy being picked for the HHS job.

“Honestly, the entire nomination process is just getting started, so let’s, let’s give it a chance to see what happens,” Thune told reporters. “And these names, none of them have been formally submitted yet, so there’s going to be a vetting process. I’ve told people, these will be worked out under advise and consent, and we’ll make sure that we process them there.”

But other Republican senators, including Tommy Tubervilple of Alabama, Kentucky’s Rand Paul and Josh Hawley of Missouri, praised Kennedy’s selection.

“Bad day for Big Pharma,” Hawley tweeted.

Andrea Ducas, vice president of health policy for the advocacy group Center for American Progress, in a statement called Trump’s choice of Kennedy “would be nothing short of disastrous for the country.”

“His track record and open skepticism of longstanding medical science could jeopardize the incredible public health gains we’ve accomplished as a nation – including the gains we’ve made in combatting infectious disease through childhood vaccination programs and in making our food supply safer through pasteurization,” Ducas said.

“This pick is especially troubling coming at the heels of the COVID-19 pandemic, where lifesaving vaccines averted countless infections and deaths.”

Trump Has Already Created A Downside For Mike Johnson In The Home

It will take months for Republicans to fill the House seats that will be left open by Trump choosing some GOP House members for his administration, which will make Speaker Mike Johnson’s majority even smaller.

Politico reported:

GOP leadership will likely already have a tough time navigating a slim majority, both during major policy fights and the speaker election. And unlike the Senate, House members can’t get quickly reappointed replacements; leaders will have to wait to have those spots filled via special elections, which typically take months.

…

“He can’t pick many more. Our majority is way too thin,” said a House Republican, granted anonymity to speak frankly.

Trump

has already picked Reps. Stefanik and Waltz for spots in his new administration. House Republicans will be waiting for months for those seats to be filled due to the slow pace of special  elections. The Republican House majority could be even smaller than it was in the last Congress, which will make getting anything done virtually impossible. In an ideal world, Trump would have chosen no House Republicans to serve in his administration.

It is more than two months before Trump takes office, and there are already potential landmines forming that could make everything far from smooth sailing for Republicans.

Jason is the managing editor. He is also a White House Press Pool and a Congressional correspondent for PoliticusUSA. Jason has a Bachelor’s Degree in Political Science. His graduate work focused on public policy, with a specialization in social reform movements.

Awards and  Professional Memberships

Member of the Society of Professional Journalists and The American Political Science Association

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Trump says Musk and Ramaswamy will lead authorities effectivity group

Elon Musk embraces Donald Trump during a campaign rally in Butler, Pennsylvania on Oct. 5, 2024.

Anna Moneymaker | Getty Images

President-elect Donald Trump said Tuesday that Elon Musk and former Republican presidential hopeful Vivek Ramaswamy will lead an efficiency group when his second term begins in January.

Trump wrote in a post that the Department of Government Efficiency, or DOGE, will “become, potentially, ‘The Manhattan Project’ of our time.” He also said the group would, “pave the way” for his next administration to “dismantle Government Bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies.”

Trump didn’t specify where cuts will take place or when the department may be formed. Congress hasn’t created or funded such an office. He said the group’s “work will conclude no later than July 4, 2026.”

Musk’s involvement in the envisioned group was previously promised by Trump and touted by the Tesla CEO, who spent an estimated $200 million backing the Republican nominee’s 2024 campaign, as a reason to put the former president back in the White House. Musk, who also runs defense contractor SpaceX, has reportedly been stationed at Trump’s Mar-a-Lago resort in Florida since Election Night.

Ramaswamy, who challenged Trump in the Republican primary, is co-founder of investment firm Strive Asset Management. He has opposed the widespread adoption of environmental, social and governance, or ESG, principles by companies.

Trump announced a number of other appointments Tuesday, including naming Fox News host Pete Hegseth as his pick for defense secretary and John Ratcliffe as CIA director.

WATCH: Vivek Ramaswamy on Trump’s election victory

NFL’s Hakeem Adeniji Shares Stillbirth of Child Days Earlier than Due Date

Hakeem shared an additional update a few days later, which he captioned, “Better days ahead of us.”

In addition to the photos of himself and Kayla with their son, the NFL player shared an emotional message, noting in the then-week since the couple lost their baby “there’s been anger, sadness, and emptiness.”

“The fact that he is gone has set in now and nothing can change that,” he wrote. “I miss him and I’ll miss him everyday for the rest of my life. Kayla and I want to remember him for all the happy times he gave us, and all the hard moments he got us through.”

Hakeem continued, “I still want to be a dad more than anything else in this world, and he gave me that even though it was short lived. When and if I ever get that opportunity again I’ll never take a day for granted.”

Weight reduction drug race heats up with weight problems capsule knowledge

Aykut Karahan | Istock | Getty Images

A version of this article first appeared in CNBC’s Healthy Returns newsletter, which brings the latest health-care news straight to your inbox. Subscribe here to receive future editions.

Happy Friday! Buried in the election news this week was new data from drugmakers vying to enter the booming weight loss drug market. 

Pharmaceutical giant AstraZeneca and biotech company Viking Therapeutics were among the companies that presented encouraging data on their obesity pills and other treatments at the ObesityWeek conference in San Antonio, Texas, in recent days. 

Wall Street is betting that the new wave of growth in the obesity space will be driven by pills that could offer more convenience and potentially fewer side effects, which could keep patients on the drugs for longer. Analysts expect the weight loss drug market to be worth more than $100 billion by the end of the decade as more treatments emerge and help meet the demand that existing injections from Novo Nordisk and Eli Lilly are still struggling to keep up with. 

Here’s what some of the data on the pills looked like. 

People who took the highest dose of Viking’s daily pill lost an average of 6.8% of their body weight after 28 days when compared to those who received a placebo, according to results from an early-stage study on 92 people. 

That outperformed investors’ expectations of 5% to 6% weight loss when compared to a placebo, William Blair analyst Andy Hsieh said in a note on Monday. That bar was set by an experimental pill from Novo Nordisk that demonstrated 5% weight loss in four weeks, he noted. 

Hsieh also said Viking’s pill showed a “highly benign tolerability profile,” referring to how well patients tolerated the drug. Six of nine participants on the highest dose of the drug experienced mild nausea, while just one experienced vomiting.

That could potentially be an advantage over existing injections for obesity, which can cause gastrointestinal side effects so uncomfortable that they drive some patients to stop treatment. 

Still, some analysts questioned whether Viking could capture a large share of the competitive market for weight loss drugs, particularly raising concerns about its ability to manufacture enough of its drugs as a small company. 

“We’re not saying it’s impossible for Viking to manufacture, however we think it will be costly with capital requirements and expertise beyond what Lilly and Novo currently have,” Deutsche Bank analyst James Shin said in a note on Monday. 

But Hsieh said he believes Viking offers “a unique set of attractive characteristics in the lens of big pharma.” There’s already been speculation around the potential for Viking to get bought out by a large pharmaceutical company. 

Apart from its pill, Viking is developing a weight loss injection and other treatments. 

The office building of biopharmaceutical company AstraZeneca is being seen in Shanghai, China, on May 23, 2024. 

Nurphoto | Getty Images

Meanwhile, AstraZeneca said its experimental obesity pill was well-tolerated by patients with Type 2 diabetes in an early study, as it presented data from several studies on three new treatments during the conference. 

AstraZeneca, after it announced last year it would license the once-daily pill from Chinese drugmaker Eccogene, said it believed the pill could cause fewer side effects than injectable treatments from Novo Nordisk and Eli Lilly. 

Patients with diabetes lost 5.8% of their body weight over four weeks of treatment with AstraZeneca’s pill. 

Some analysts said it was difficult to compare the data to other weight loss drugs since AstraZeneca’s study was small and tested on diabetic patients rather than those with obesity. Still, AstraZeneca has said it believes its pill is differentiated from other therapies in development and on the market, particularly given how well it was tolerated by patients. 

Feel free to send any tips, suggestions, story ideas and data to Annika at annikakim.constantino@nbcuni.com.

Here’s how Americans voted on abortion access

Abortion rights supporters hold placards on the day the Supreme Court justices hear oral arguments over the legality of Idaho’s Republican-backed, near-total abortion ban in medical-emergency situations, at the U.S. Supreme Court in Washington, U.S., April 24, 2024. 

Kevin Lamarque | Reuters

Here’s how Americans voted on abortion access

Americans in 10 states voted on whether to enshrine or expand access to abortion this week, more than two years after Roe v. Wade was overturned by the U.S. Supreme Court. 

Abortion access was a hot-button issue during the presidential campaign this year, particularly among women voters. President-elect Donald Trump recently said he believes the issue should be left to the states, but he has previously expressed support for various proposals of a nationwide ban. 

Ballots are still being counted across the country, but here’s how Americans have voted on abortion, according to NBC News projections: 

Arizona: Passed

Arizona voters passed Proposition 139, which provides a right to abortion in the state before the point of fetal viability at around 24 weeks. 

The measure passed with 61.2% of the vote, while 38.8% of Arizonians voted against it, according to NBC News. About 74% of expected votes have been counted so far. 

Colorado: Passed

Voters in Colorado passed Amendment 79, which enshrines the right to abortion in the state constitution. It also lifted a ban that prevented public funds from being used to pay for abortions, which means more Coloradans can get insurance coverage for the procedure.

Amendment 79 passed with 61.9% of the vote, according to NBC News. About 86% of expected votes are in.

Florida: Not passed

Florida voters struck down Amendment 4, which would have offered a constitutional right to abortion before fetal viability or when the procedure is necessary to protect the patient’s health. Abortions are currently banned after six weeks of pregnancy in the state. 

More than 57% percent of Floridians voted in favor of the amendment, according to NBC News. It needed to cross 60% in order to pass. About 96% of expected votes have been counted.

Maryland: Passed

Voters in Maryland enshrined abortion access in the state’s constitution by passing a right to reproductive freedom, which includes “the ability to make and effectuate decisions to prevent, continue, or end one’s own pregnancy.”

The measure passed with 74.7% of the vote, according to NBC News. About 83% of expected votes are in.

Missouri: Passed

Voters in Missouri passed Amendment 3, which enshrines a right to reproductive freedom in the state’s constitution. The amendment gives residents “the right to make and carry out decisions about all matters relating to reproductive health care,” which includes abortion. 

Amendment 3 passed with 51.7% of the vote, while 48.3% of people in the state voted against it, according to NBC News. Around 99% of expected votes are in.

Montana: Passed

Montana voters enshrined abortion access into their state’s constitution by establishing a right to “make and carry out decisions about one’s own pregnancy.” 

The measure passed with 57.6% of the vote, while 42.4% of voters cast their ballots against it, according to NBC News. About 96% of expected votes have been counted.

Nebraska: Mixed

Voters in Nebraska did not pass an amendment that would have expanded abortion access to the point of fetal viability at around 24 weeks, but they did pass a measure that codified the existing abortion restrictions in the state’s constitution. Nebraska bans abortions after 12 weeks unless there is a medical emergency or the pregnancy is the result of sexual assault or incest. 

Nearly 49% of Nebraska voters cast their ballots in favor of expanding abortion access, while 51.4% voted against it, according to NBC News. The amendment prohibiting abortions after the first trimester passed with 55.3% of the vote. About 94% of expected votes are in.

Nevada: Passed

Voters in Nevada passed an amendment prohibiting abortions after the first trimester, unless they are medically necessary. The amendment also makes exceptions if the pregnancy is the result of incest or sexual assault.  

The amendment passed with 64% of the vote, according to NBC News. Around 92% of the expected votes have been counted so far.

New York: Passed 

New York voters passed Proposition 1, which protects abortion access in the state’s constitution. The proposition says that people can’t be denied rights based on their sex, including “sexual orientation, gender identity, gender expression, pregnancy, pregnancy outcomes, and reproductive healthcare and autonomy.” 

Nearly 62% of New York voters cast their ballots in favor of the proposition, while 38.1% voted against it, according to NBC News. About 88% of expected votes are in.

South Dakota: Not passed

South Dakota voters did not pass Amendment G, which would have established a right to abortion in the state’s constitution. All abortions are banned in the state, except when they are medically necessary to preserve the patient’s life. 

More than 41% of voters in the state cast their ballots in favor of the amendment, while 58.6% of people voted against it, according to NBC News. Around 99% of expected votes have been counted.

Feel free to send any tips, suggestions, story ideas and data to Ashley at ashley.capoot@nbcuni.com.

‘Depraved’ advertising takes over retail forward of theatrical debut

Cynthia Erivo and Ariana Grande star as Elphaba and Glinda in Universal’s “Wicked.”

Universal

“Barbie” painted the town pink in 2023, and now “Wicked” is upping the ante by adding a splash of green.

Universal‘s theatrical retelling of the famed Broadway musical is creating buzz ahead of its Nov. 22 release with hundreds of merchandise offerings from dozens of retail partners. The green-and-pink barrage is part of Universal’s marketing strategy for the film and could bring a welcome boost to the retail industry just in time for the crucial holiday period.

These “Wicked” collaborations cross the spectrum from apparel, accessories, footwear, beauty and costumes all the way to home decor, toys and even one-of-a-kind cars.

The collections range in price points as well, offering consumers affordable and luxury options to show off their love of all things “Wicked.”

Target and Walmart have a slew of products on shelves, with whole sections of the store dedicated to themed shirts, sweaters and footwear, as well as dolls, plush figures, books and nail polish.

Lego and Mattel have brick sets and Barbies tied to the film; Starbucks has a collection of new tumblers and mugs, plus limited-time drinks inspired by main characters Glinda and Elphaba; and Betty Crocker has “mix to reveal” cake mixes that turn pink or green when wet ingredients are added.

Toyota’s Lexus is even releasing two one-of-a-kind versions of its 2024 Lexus TX that have “Wicked”-themed wraps.

The Broadway show on which the film is based is one of the most popular and highest-grossing musicals of all time and already has an established and rabid fanbase.

Just at the Gershwin Theater in New York City, more than 14.5 million people have bought tickets to see the show since it launched in 2003, generating more than $1.67 billion in ticket sales, according to Broadway World. Those figures don’t include traveling national shows or international residencies.

These fans are hungry for merchandise that celebrates and enhances their fandom and they are willing to pay for it, according to Mintel’s 2024 “U.S. Superfans and Enthusiasts Consumer Report.”

The report found that nearly half of “superfans,” the most enthusiastic and devoted fans, have spent money on official fandom events or merchandise in the past year. The report, which surveyed 2,000 adults in the U.S., also determined that fandom collaborations and partnered releases are most successful among niche super-fandoms.

And that’s a good thing for the retail space, which saw the consumer confidence index fall 7 points in September, the largest drop in more than three years, only to soar up 11% in October, the biggest single-month acceleration since March 2021.

Retailers that have partnered with Universal are expected to see a boost from sales of “Wicked” merchandise, which could help them stand out from other companies during the next few months.

What could also drive demand is the fact that these merchandise collaborations are limited-time only. Once the stock is gone, it’s not likely to be replenished. So, even the most price-conscious consumers may be willing to spend in order to get these products before they vanish from shelves.

Movie theaters, too, are offering up themed popcorn buckets, drink specials and other merchandise for moviegoers who head out to cinemas to see the film. These retail opportunities could help boost the “Wicked” box office.

At present, box-office analysts have a wide-ranging read on what “Wicked” could do during its domestic opening weekend. On the conservative end is an $85 million haul, predicted by leading entertainment and technology research firm NRG. Meanwhile, others speculate that the first film in a planned duology could top $100 million and capture as much as $150 million during its first three days in theaters.

The divergence of expectations comes as Hollywood has struggled to market and make a profit on movie musicals in recent years. Adaptations such as “In the Heights,” “Dear Evan Hanson” and “Mean Girls,” all based on Broadway shows, failed to drum up significant box-office revenue during their runs.

However, other fan-favorite intellectual property-driven titles — including “Dune: Part Two,” “Deadpool & Wolverine” and “Inside Out 2” — have overperformed estimates. With “Wicked” already being a household name but existing in the musical space, box-office analysts are finding it tricky to predict where it will land.

Trump legal election case paused as Jack Smith weighs destiny

Special counsel Jack Smith makes a statement to reporters about the 37 federal charges returned by a grand jury in an indictment of former U.S. President Donald Trump on charges of unauthorized retention of classified documents and conspiracy to obstruct justice as Smith speaks at his offices in Washington, U.S. June 9, 2023.

Leah Millis | Reuters

A judge on Friday paused proceedings in the criminal election interference case against President-elect Donald Trump, a move that reflects the expected end of the prosecution.

The pause was requested by special counsel Jack Smith, whose team is prosecuting Trump in federal court in Washington, D.C.

Smith earlier Friday told Judge Tanya Chutkan that vacating the schedule of remaining pretrial deadlines would give his team “time to assess this unprecedented circumstance” of Trump’s electoral victory “and determine the appropriate course going forward consistent with Department of Justice policy.”

“By December 2, 2024, the Government will file a status report or otherwise inform the Court of the result of its deliberations,” Smith wrote in a filing Friday.

Chutkan endorsed that deadline in her order vacating the other deadlines.

Trump’s win against Vice President Kamala Harris earlier this week was considered a death knell for Smith’s prosecutions of him.

On Wednesday, NBC News reported that DOJ officials have been evaluating how to wind down the election case and another criminal case against Trump before he is sworn in as president.

Trump has said he plans to fire Smith, and is expected to force the DOJ to end the prosecutions.

And DOJ policy bars the department from prosecuting a president while in office due to the department’s position in the executive branch of government. The attorney general, who leads the DOJ, is appointed by the president.

Former US President and Republican presidential candidate Donald Trump walks to speak to the press as the 12 jurors began deliberating in his criminal hush money trial at Manhattan Criminal Court in New York City on May 29, 2024. (

Doug Mills | Afp | Getty Images

Trump is charged in the case before Chutkan with crimes related to his efforts to undo his loss to President Joe Biden in the 2020 election, when the Republican was the incumbent president.

Trump also had been charged by Smith in federal court in Florida with crimes related to retaining classified government records after leaving the White House in early 2021, and with obstructing efforts by officials to recover those documents.

The case was dismissed in July by Judge Aileen Cannon, a Trump nominee, who said that Smith’s appointment as special counsel by the DOJ violated the appointments clause of the U.S. Constitution.

Smith has appealed that dismissal to the 11th Circuit U.S. Court of Appeals.

But that appeal, like the criminal election case in Washington, is considered doomed by Trump’s electoral victory.

Trump is also charged in Georgia state court in Atlanta with racketeering and other crimes related to his attempt to reverse Biden’s White House win in 2020.

But Trump is not expected to stand trial in that case while serving as president, even though the DOJ has no control over that prosecution, which was filed by the Fulton County District Attorney’s Office.

The president-elect also is scheduled to be sentenced on Nov. 26 in New York state court in Manhattan for nearly three dozen criminal counts of falsifying business records related to a 2016 hush money payment to porn star Stormy Daniels.

Trump faces a potential prison sentence in that case, but would not be expected to serve any such sentence while he is president.

He is being prosecuted in the hush money case by the Manhattan District Attorney’s Office.

Wall Road expects Trump presidency will unlock deal-making

Attendees cheer as a broadcast of former US President and Republican presidential candidate Donald Trum speaking at his Florida election party is shown on a screen at the Nevada GOP election watch party in Las Vegas, Nevada on November 6, 2024. 

Ronda Churchill | Afp | Getty Images

Wall Street dealmakers and corporate leaders expect the flood gates to open on merger and acquisition activity after President-elect Donald Trump takes office in January.

And he’ll likely have congressional help. Trump defeated Democratic candidate Vice President Kamala Harris, and Republicans claimed a majority of the Senate in elections this week. That red wave is expected to spell loosening regulations on deal-making, with plenty of pent-up demand.

“We know kind of where the world is headed in a Trump environment because we’ve seen it before,” said Jeffrey Solomon, president of TD Cowen, on CNBC’s “Money Movers” Wednesday. “I think the regulatory environment will be much more conducive to economic growth. There will be lighter and targeted regulation.”

Solomon added that the scaled-back regulation will be focused on certain areas “of particular interest to the Trump administration,” rather than a broad based reassessment of the entire landscape.

In recent years, there has been greater scrutiny of pending deals by the Biden administration’s Department of Justice and Federal Trade Commission, headed by Chair Lina Khan. Some have pointed to that dynamic as a chilling factor on deal flow. High interest rates and soaring company valuations have contributed, too.

Khan said in September that “when you see greater scrutiny of mergers, you can see greater deterrence of illegal mergers.” Her hard line has drawn harsh criticism, but now, there’s optimism around a forthcoming FTC with a lighter hand.

“Assuming interest rates drop and you see corporate tax rates go down, the ingredients are there for a really active M&A market,” said one top dealmaker, who talked to CNBC on the condition of anonymity to speak candidly.

On Wednesday, markets rallied on the Republican presidential win, with the Dow Jones Industrial Average soaring 1,500 points to a new record high.

Sector specific

Some sectors, including financial and pharmaceutical industries in particular, are likely to get a lift under a second Trump regime, experts said.

Pharmaceutical executives are especially optimistic that lighter antitrust enforcement could clear the way for deal-making, said one health-care-focused M&A advisor, who added that antitrust enforcement could have “hardly gotten worse” under either administration but now believes things will improve “meaningfully.”

Khan has taken on scores of biopharma mergers over the last four years, arguing that monopolies will stifle the development of new drugs in certain disease areas and hurt consumer choice. Biotech company Illumina last year said it would divest diagnostic test maker Grail after heated battles with the FTC and European antitrust regulators.

Also last year, the FTC blocked Sanofi’s proposed acquisition of a drug in development for Pompe disease, a genetic condition, from Maze Therapeutics. Sanofi ultimately terminated that deal.

“Whether or not Lina Khan is bounced day one is a key consideration, but even if fewer changes at the FTC take place, there is no doubt this administration — at least on paper — will be far more amicable when it comes to business combinations,” Jared Holz, Mizuho health-care equity strategist, said in an email on Wednesday.

One top dealmaker expected an M&A uptick broadly, but agreed that pharmaceuticals and the financial sector were particularly poised for a resurgence. That deal-maker also noted that with the Senate flipping, more outspoken antitrust voices like Sen. Elizabeth Warren, D-Mass., could find it more difficult to push for DOJ or FTC investigations.

In the financial sector regional banks recognize the need for scale, making them likely candidates for consolidation, said one former industry executive, noting that smaller banks had been getting gobbled up for “some time.” That person expects the pace and size of those acquisitions to ramp up under a Trump presidency.

Other industries, such as tech, may still face an uphill battle in getting deals done.

One M&A advisor, who also spoke to CNBC anonymously, noted that Trump’s disdain for Big Tech companies — historically active deal-makers — might keep them on the sidelines. On Wednesday, tech leaders took to social media to congratulate Trump.

Apparent GOP opposition to the CHIPS Act means that semiconductor consolidation might be challenging, the advisor noted, while cautioning it is still too early to know what a Trump presidency would mean. CNBC previously reported that Qualcomm recently approached Intel about a potential takeover.

“I think the simplest way to put it is more deals, less regulation with the administration having its thumb on the scale, perhaps with a willingness to pick winners and losers,” said Jonathan Miller, chief executive of Integrated Media, which specializes in digital media investments.

Eyes on retail, media

David Zaslav at the Allen & Company Sun Valley Conference on July 9, 2024 in Sun Valley, Idaho.

David Grogan | CNBC

A Trump presidency could usher in a number of retail deals that have been hamstrung by the FTC. Kroger’s bid to take over grocery chain Albertsons could have a better chance of getting approved under Trump, as could Tapestry’s proposed acquisition of Capri.

The merger between Kroger and Albertsons is currently under review by a federal judge, while Tapestry is working to appeal a federal order that granted the FTC’s motion for a preliminary injunction against the tie-up.

“The hostile approach of the FTC to mergers and acquisitions will almost certainly be reset and replaced with a worldview that is more favorable to corporate dealmaking,” said GlobalData managing director Neil Saunders. “This does not necessarily mean that big deals like Kroger-Albertsons will be waved through, but it does mean others like Tapestry-Capri will receive a far warmer reception than they have under the Biden administration.”

Meanwhile, ongoing turmoil in the media industry has led many to consider consolidation as the next step for the sector.

Warner Bros. Discovery CEO David Zaslav on Thursday highlighted opportunities that could come up if regulations were to loosen, doubling down on comments he made earlier this year at Allen & Co.’s annual Sun Valley conference.

“We have an upcoming new administration. … It’s too early to tell, but it may offer a pace of change and opportunity for consolidation that may be quite different, that would provide a real positive and accelerated impact on this industry that’s needed,” Zaslav said on an earnings call.

Broadcast station group owner Sinclair on Wednesday echoed a similar sentiment.

“We’re very excited about the upcoming regulatory environment,” CEO Chris Ripley said during an earnings call. “It does feel like a cloud over the industry is lifting here.”

Still, the track record between the previous Trump administration and the Biden administration for media industry deals is split.

Trump’s DOJ allowed Disney to buy Fox’s assets, but then sued to block AT&T’s deal for Time Warner.

Under the Biden administration, Amazon’s $8.5 billion deal for MGM and the merger of Warner Bros. and Discovery Communications were both waved through, but a federal judge blocked the $2.2 billion sale of Simon & Schuster to Penguin Random House.

Skydance Media and Paramount Global agreed to merge earlier this year and expect to receive regulatory approval in 2025.

Dr. Phil Shares Why He Supported Donald Trump W/ Rally Speech

Dr. Phil is spilling the tea on why he decided to speak at Donald Trump’s rally on Oct. 27 at Madison Square Garden.

RELATED: VP Kamala Harris Steps In With Justin Carter To Discuss How She’ll Deliver For Black Men | TSR Newz 

Dr. Phil Gets Real About Who He’s Backing For President

In an interview with Piers Morgan, Dr. Phil clarified that he is not endorsing Donald Trump for president. Instead, he called his speech at his rally an “act of rebellion.” He explained that he only did it after Vice President Kamala Harris’ campaign reportedly ignored his repeated requests for an interview.

“It was an act of rebellion on my part because I requested 25 plus times to speak to Kamala Harris and never got so much as a yes, no, maybe. And just wouldn’t agree to an interview,” Dr. Phil said.

Dr. Phil continued to be honest, saying he’d gladly deliver the same speech he did at Trump’s rally at a rally for VP Kamala Harris if he had the chance. He even admitted that he would’ve just swapped out Trump’s name for hers in the speech.

“I offered to give the identical speech at a Harris rally, and I said I will cross out Trump’s name, write in Harris’ name, and give the identical speech at a Harris rally,” he revealed.

The talk show host went on, explaining that Harris’ team even called him to confirm his interest in giving the same speech at her rally in D.C. They seemed open to it at first, so he planned to bring a transcript long, ready to make it happen. But after they found out he was serious, he heard nothing back.

Social Media Reacts

Whew, chile! Social media users went IN on Dr. Phil in The Shade Room’s comment section, saying he was acting way too entitled about getting VP Harris’ time. Some even dragged him for siding with Trump just because Kamala turned him down.

Instagram user @ladyelle313 wrote, “Worst thing Oprah did was give him a platform.” 

Instagram user @thatnurseki wrote, “Audacity & entitlement…..nothing else to see here folks.” 

While Instagram user @imaneurope wrote, “Nobody’s worse than a person who sides with your opp when they don’t get what they want from you. i’m glad she curved you, Phil.” 

Then Instagram user @thecurlymonae wrote, “And people yap about a woman being too emotional to be a president. The MEN are throwing tantrums!” 

Another Instagram user @itsashleylarue wrote, “Not the psychologist with poor emotional regulation. 😱” 

Finally, Instagram user @msjeanettejenkins wrote, “The entitlement is next level….just because you ask doesn’t mean she has the time to put you on her schedule. If you support the polices then just support….why do you have to have a personal interview. Sir….check yourself.” 

Dr. Phil Shares His Thoughts On Trump

According to Variety, Dr. Phil clarified that his speech at Donald Trump’s Madison Square Garden rally didn’t mean he was endorsing him. He made it clear he’d give the exact same speech at VP Kamala Harris’ rally if given the chance.

“I don’t back off of what I said at Trump’s rally… not one word. I would still go to a Harris rally and say exactly the same thing,” he explained.

Variety also noted that during the interview, Piers Morgan tried to press him on who he’s really supporting, but Dr. Phil played it cool and kept that info private, saying he’d never reveal his vote.

“Whoever it is, we’re all Americans, and once that process runs its course and America picks a president. We have to get behind that person and support them. You have to respect the office of the president,” Dr. Phil added.

RELATED: Oop! Donald Trump Speaks About Beyoncé Sharing A Speech At VP Kamala Harris’ Rally Instead Of Performing (VIDEO) 

What Do You Think Roomies?