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GM says 400-mile range EVs are on the way after a battery breakthrough

General Motors announced plans today to start commercial production on EV batteries that will allow for about 400 miles of range on a single charge — and cost less — by 2028.

Together with its partner LG Energy Solution, the automaker will use lithium manganese-rich (LMR) battery cells in its full-size EVs.

LMR batteries have existed for decades, but automakers have avoided their use in commercial vehicles because they typically have a shorter lifespan. GM believes it has solved that issue.

In late April, a Ford exec announced a similar LMR breakthrough via a LinkedIn post. Ford didnt get as specific with timelines, instead saying its batteries will arrive by the end of the decade.

CATL, an EV battery supplier for GM, Tesla, and other major automakers also recently touted battery advances. Those breakthroughs include added cold resistance and a battery with a 320-mile range that charges in five minutes.

LMR batteries have existed for decades, but automakers have avoided their use in commercial vehicles because they typically have a shorter lifespan. GM believes it has solved that issue.

In late April, a Ford exec announced a similar LMR breakthrough via a LinkedIn post. Ford didnt get as specific with timelines, instead saying its batteries will arrive by the end of the decade.

CATL, an EV battery supplier for GM, Tesla, and other major automakers also recently touted battery advances. Those breakthroughs include added cold resistance and a battery with a 320-mile range that charges in five minutes.

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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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Fox and News Corp slide as investors digest $3.3 billion Murdoch succession settlement

Fox and News Corp shares dropped on Tuesday after Rupert Murdoch’s heirs agreed to a $3.3 billion settlement to resolve a long-running succession drama.

Under the deal, Prudence, Elisabeth, and James Murdoch will each receive about $1.1 billion, paid for in part by Fox selling 16.9 million Class B voting shares and News Corp selling 14.2 million shares. The stock sales will raise roughly $1.37 billion on behalf of the three heirs.

The new trust for Lachlan Murdoch will now control about 36.2% of Fox’s Class B shares and roughly 33.1% of News Corp’s stock, granting him uncontested voting authority over both companies for the next 25 years. Originally, the Murdoch trust was designed to hand over voting control of Fox and News Corp to Prudence, Elisabeth, Lachlan, and James after his death.

Investors are weighing the trade-off. Clear leadership under Lachlan may resolve conflict internally, but the share dilution, executed at a roughly 4.5% discount, means long-term investors now hold slightly less clout than before.

Both companies’ stocks were trading close to all-time highs prior to the announcement.

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