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Bud Light in one chart: A terrible, horrible, no good, very bad year

Bud Light, which was the most popular beer in the US less than two years ago, now sits in third place. 

The American beer brand took a big hit in April 2023, after it partnered with a transgender social media influencer, Dylan Mulvaney. Conservative consumers launched a boycott that pushed its market share below Modelo Especial (a Mexican beer licensed in the US by Constellation Brands) in just a few months. 

As of this summer, Bud Light has also fallen behind its sister brand Michelob Ultra, according to Nielsen IQ market data analyzed by the consulting firm Bump Williams. Both beers are owned by Anheuser-Busch InBev.

While the boycott may have pushed Bud Light over the edge, consumer trends were already trending away from domestic brews.

Americans are also generally drinking less beer than they used to, and are increasingly preferring lighter brews and imports. In May, the US imported more than 125.3 million barrels of beer, up 9% from last year, according to US Department of Commerce data compiled by the Brewers Association.

While the boycott may have pushed Bud Light over the edge, consumer trends were already trending away from domestic brews.

Americans are also generally drinking less beer than they used to, and are increasingly preferring lighter brews and imports. In May, the US imported more than 125.3 million barrels of beer, up 9% from last year, according to US Department of Commerce data compiled by the Brewers Association.

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Paramount Skydance reportedly preparing an Ellison-backed Warner Bros. Discovery takeover bid, sending shares soaring

Paramount Skydance is preparing a majority cash bid for Warner Bros. Discovery, The Wall Street Journal reported, sending shares of both companies surging. The Journal’s sources say the deal is backed by the Ellison family, led by David Ellison.

WBD shares were up 30% on the report, while Paramount Skydance jumped 8%.

The offer would cover WBD’s entire business — cable networks, movie studios, the whole enchilada. That comes after WBD announced plans last year to split into two divisions: one for streaming and studios, the other for its traditional cable and TV assets. A recent Wells Fargo note gave WBD a price target hike, primarily because the analysts viewed it as a prime takeover candidate.

If the deal goes through, it would bring together HBO, CNN, DC Studios, and Warner Bros.’ film library with Paramount+, Nickelodeon, and MTV, all under one umbrella.

The offer would cover WBD’s entire business — cable networks, movie studios, the whole enchilada. That comes after WBD announced plans last year to split into two divisions: one for streaming and studios, the other for its traditional cable and TV assets. A recent Wells Fargo note gave WBD a price target hike, primarily because the analysts viewed it as a prime takeover candidate.

If the deal goes through, it would bring together HBO, CNN, DC Studios, and Warner Bros.’ film library with Paramount+, Nickelodeon, and MTV, all under one umbrella.

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