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    PUMA Studio to open In L.A. to create products and campaigns for the U.S. market

    By SHOOTUpdated:No Comments834 Views
    PUMA will open the PUMA Studio in the Hollywood area of Los Angeles in early 2025 (Photo: Business Wire)
    HERZOGENAURACH, Germany --

    Sports company PUMA will open the PUMA Studio in the Hollywood, Calif., in early 2025, a creative space that brings its design and marketing teams closer to the most influential communities and celebrities to inspire products and campaigns for the strategically important U.S. market.

    By tapping into the rich ecosystem of creative and innovative professionals in Los Angeles, the new PUMA Studio will play an important part in creating products and marketing activations that resonate with U.S. consumers.

    “Opening our PUMA Studio in L.A. is an important strategic move for us, as we seek to elevate our business in the United States,” said PUMA CEO Arne Freundt. “Our new home will allow us to attract the best talent in one of the most vibrant and creative cities globally to create great product propositions for the U.S. market.”

    The PUMA Studio will offer an exciting environment which allows the company’s product, design and marketing teams to bring their creative ideas to life. It will complement PUMA’s existing global and regional product teams located in Somerville, Mass. While the PUMA Studio will open in its new location in early 2025, PUMA already started the recruitment of the talent for its temporary office location in L.A.

    The PUMA Studio will also allow PUMA to be closer to some of its most important ambassadors from the worlds of music and entertainment. Apart from the design and creative space, it will feature a bespoke space for VIP clients to have exclusive access to PUMA’s upcoming products.

    Tags:Arne FreundtPumaPUMA Studio



    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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