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Sotheby’s has announced that it is to be acquired by Billionaire telecom magnate and art collector Patrick Drahi in a surprise $3.7 billion deal. Drahi’s wholly-owned entity BidFair USA has paid $57.00 in cash per share of Sotheby’s common stock. The offer price represents a premium of 61% to Sotheby's closing price on June 14, 2019, and a 56.3% premium to the company’s 30-trading-day volume-weighted average share price. The deal means that the two British auction houses that dominate internationals sales of fine art, real estate and collectibles are both owned by French billionaires. (📸: Chris J. Ratcliffe/Getty Images for Sotheby’s)

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Rolex is launching an initiative called Perpetual Planet, which consolidates its ongoing support of research on environmental issues and climate change. It includes a new partnership with the National Geographic Society to study the impacts of climate change that involves support for biologist Sylvia Earle’s Mission Blue initiative to safeguard the oceans through a network of marine protected “hope spots.” The initiative is in keeping with Rolex’s history of harnessing the world of exploration as a testing ground for its watches, often supporting ventures that take place in extreme conditions: the Arctic, the summit of Mount Everest or the depths of the ocean in the Mariana Trench. (📸: Rolex)

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Meet the new burger kings who run a franchise chain that's grown 30% per year since 2013 - and the rest of America’s best and worst franchises to buy in 2019 at the link in our bio.

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Failure = a new (smarter) beginning.

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Online video game live-streamer Tyler Blevins aka @ninja , just signed a book series deal with Random House. The 28-year-old streamer will release multiple books by the end of the year, including how-to guides and a graphic-novel series, directed at gaming enthusiasts. (📸: Sean Zanni/Patrick McMullan via Getty Imagess)

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Today, at 3:54 p.m. UTC (Universal Time) it's “solstice” and the longest day of the year in the northern hemisphere. Astronomically speaking, it's the beginning of summer, and at the north pole, the sun will not set. Solstices and equinoxes teach us about the wax and wane of daylight, the intensity of the Sun's rays, the changing seasons, and of Earth’s precious place in space. Get a quick understanding of why it’s the longest day of the year at the link in our bio. (📸: AP Photo/Tim Ireland)

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Universal Music Group is bracing for lawsuits stemming from a 2008 fire that tore through a storage facility, Courthouse Square (Back to the Future) and a mechanical replica of King Kong. It is reported that some 175,000 master tapes were destroyed when the storage facility burned. The New York Times reports the tapes contained approximately 500,000 songs. Needless to say, the fire was devastating to the community and even more so to musicians and their fans. Many master recordings of iconic artists were lost and the lawsuits will play out in the courtrooms over the coming months. More about what was lost at the 🔗 in our bio. (📸: AP Photo/Ric Francis)

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Moody’s Investors Service downgraded some debt ratings of troubled maker of luxury SUVs and sports cars Jaguar Land Rover (JLR) because of its continuing troubles in China and worries about the huge amount of capital required to fund electrification. JLR reported a loss of $4.6 billion for its financial year ended March 31 and has said it was cutting 4,500 jobs as part of a turnaround policy. More about the plan at the 🔗 in our bio. (📸: Simon Dawson/Bloomberg)

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#TBT to Stewart Butterfield’s Forbes cover from August 17th, 2015. As cofounder and CEO of Slack Technologies, which went public this morning at $38.50 a share, Butterfield’s estimated 7% stake in the company now gives him a net worth of $1.6 billion. At opening, @slackhq had a valuation of $23.2 billion according to the Wall Street Journal. Learn more about the IPO at the 🔗 in our bio.

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Deutsche Bank’s impending auf wiedersehen will hurt Americans, as the bank is very interconnected to American financial institutions. According to the Financial Times, “Deutsche’s equity and rates trading businesses outside continental Europe will be severely shrunk or closed entirely as part of the revamp.” Because Deutsche Bank is a significant derivatives and securities trader in the U.S., this shrinkage or closure will hurt U.S. residents employed by the perennially troubled German bank. Changes are likely to be announced with the bank’s half-year results in late July. (📸: Getty)

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