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    Leonardo DiCaprio helps create new environmental alliance

    By SHOOTUpdated:No Comments1539 Views
    This June 5, 2019 file photo shows Leonardo DiCaprio at the premiere of "Ice on Fire" in Los Angeles. DiCaprio is joining with billionaire investors and philanthropists Laurene Powell Jobs and Brian Sheth to create Earth Alliance, a new nonprofit charged with tackling climate change and the loss of biodiversity. Earth Alliance said Tuesday July 2, it will provide grants, educational opportunities and fund campaigns and films, as well as work with grassroots organizations and individuals in places most affected by biodiversity loss and climate change. (Photo by Jordan Strauss/Invision/AP, File)

    By Mark Kennedy, Entertainment Writer

    NEW YORK (AP) --

    Leonardo DiCaprio is joining with billionaire investors and philanthropists Laurene Powell Jobs and Brian Sheth to create a new nonprofit environmental powerhouse charged with tackling climate change and the loss of biodiversity.

    The new organization, Earth Alliance, "will work globally to protect ecosystems and wildlife, ensure climate justice, support renewable energy and secure indigenous rights to the benefit of all life on Earth," according to a statement.

    Earth Alliance said Tuesday it will provide grants, educational opportunities and fund campaigns and films, as well as work with grassroots organizations and individuals in places most affected by biodiversity loss and climate change.

    In the statement, DiCaprio called Earth Alliance a "new larger, nimble platform that shares resources and expertise while identifying the best programs to drive real change around the planet."

    DiCaprio has long championed environmentalism, with his eco-focused Leonardo DiCaprio Foundation giving out $100 million in grants for everything from lion recovery and mangrove restoration to the defense of indigenous rights and better access to affordable solar energy. His foundation will be folded into Earth Alliance.

    Brian Sheth, the co-founder and president of private equity firm Vista Equity Partners, is the board chair of Global Wildlife Conservation and founded The Sheth Sangreal Foundation with his wife to support environmental and educational initiatives. The Sheth Sangreal Foundation will fund operational and administrative costs of Earth Alliance.

    Powell Jobs, widow of former Apple co-founder and CEO Steve Jobs, is a philanthropist and entrepreneur and president of the Emerson Collective, a social impact organization.

    Tags:Brian ShethEarth AllianceLaurene Powell JobsLeonardo DiCaprio



    DirecTV calls off acquisition of rival Dish, possibly ending a yearslong pursuit

    Friday, November 22, 2024
    Dish Network satellite dishes are shown at an apartment complex in Palo Alto, Calif., Feb. 23, 2011. (AP Photo/Paul Sakuma, File)

    DirecTV is calling off its planned acquisition of rival Dish after the offer was rejected by bond holders at that company.

    The deal was reliant on Dish bond holders agreeing to trade in the debt they held for debt in the new company, a swap that would have cost them about $1.6 billion, collectively.

    The retreat by DirecTV this week may end a years-long effort by the company to acquire both Dish and Sling after it announced the bid in September.

    DirecTV was looking to acquire Dish TV and Sling TV from its owner EchoStar in a debt exchange transaction that included a payment of $1, plus the assumption of approximately $9.8 billion in debt. The deal was contingent on several factors, including regulatory approvals and bondholders writing off debt related to Dish.

    "While we believed a combination of DirecTV and Dish would have benefited all stakeholders, we have terminated the transaction because the proposed exchange terms were necessary to protect DirecTV's balance sheet and our operational flexibility," DirecTV CEO Bill Morrow said in a statement.

    The prospect of a DirecTV-Dish combo has long been rumored, and reported talks resurfaced over the years. And the two almost merged more than two decades ago — but the Federal Communications Commission blocked the deal valued at the time at $18.5 billion deal, citing antitrust concerns.

    The pay-for-TV market has shifted significantly since. As more and more consumers tune into online streaming platforms, demand for more traditional satellite entertainment continues to shrink.

    DirecTV says that it will continue to invest in next-generation streaming platforms and offer new packaging options while integrating content from live TV alongside direct-to-consumer... Read More

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