(AOF) – Pinterest’s stock is expected higher after a report that activist investor Elliott Management Corp. has built a more than 9% stake in the social media company. The investment could make Elliott Pinterest’s largest shareholder, according to the Wall Street Journal report. Pinterest was not immediately available for comment. Amid a wave of executive departures, Ben Silbermann stepped down as chief executive in June and was replaced by Bill Ready.
Pinterest was not immediately available for comment. Amid a wave of executive departures, Ben Silbermann stepped down as chief executive in June and was replaced by Bill Ready, formerly president of commerce at Alphabet’s Google.
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French players well positioned in audiovisual production
Among the independent players, the Frenchman Banijay is the world leader with an expected turnover of 3 billion euros in 2022 in a market which represents 100 billion in revenue. Mediawan (backed by the KKR fund), whose turnover amounts to 1 billion euros, is the other main French player in the sector. The market is still very fragmented because according to the European Audiovisual Observatory, the top twenty production groups were responsible for only 38% of titles created in 2020. However, experts believe that the sector has entered a phase consolidation. Thus Banijay’s stock market listing aims to enable it to better participate in this movement.