#Valley news dis employee dave penn series

What does it tell us about the state of ESPN? Some folks who work at ESPN think it’s a big win: They get an infusion of cash, and they think not just telling their viewers about sports betting but directly participating in sports betting is a good thing. Which is why, unlike Penn, it doesn’t even need to tell investors about the deal in an SEC filing. “ I’d prefer to wait as long as possible,” he said earlier this year, but added that it would be “inevitable.”įinancially, the deal doesn’t mean quite as much: While Penn is paying Disney $2 billion over 10 years, spread out between cash and stock warrants, Disney is an $83 billion company.

And since Iger returned to the top job last fall, he has been signaling he’s become more comfortable with sports betting because his research tells him that’s what young consumers want to do. For instance, a potential deal in 2015 to invest in DraftKings, which at the time was a “daily fantasy” sports betting company, was softened to become a more standard marketing deal.īut after Iger stepped down as Disney CEO in 2020, his replacement, Bob Chapek, signaled he was much more interested in sports betting, which became legalized on a state-by-state basis in 2018.

And even when that stance softened, Iger still kept his distance. During Bob Iger’s first stint running Disney from 2005 to 2020, he expressed a real distaste for sports betting on the grounds that gambling couldn’t coexist with Disney’s pristine family image. What does the deal mean for Disney? A lot - symbolically, at least. Here are some answers to a few of the questions it raises. The deal tells us a lot about the state of sports, media, and gambling.

It’s a striking about-face for Disney CEO Bob Iger, who spent years insisting that his company should avoid anything to do with gambling.Īnd there’s an additional wrinkle for people who pay attention to changes in sports and pop culture: ESPN’s sports betting deal with Penn replaces one the company previously had with Barstool Sports, the raunchy and provocative publisher that used to thrive on portraying ESPN as lumbering and out of touch. The PUC had originally sought a penalty of more than $3.37 million but agreed to $1.175 million to avoid litigation.Here’s a story that would have been very, very hard to imagine a few years ago: ESPN, Disney’s sports behemoth, is doing a $2 billion deal with Penn Entertainment, a gambling company you’ve probably never heard of. The settlement paperwork noted that West Penn “admitted to many of the basic facts surrounding the April 12 incident but denied that West Penn Power violated (PUC) regulations or failed to provide reasonable and safe services.” The company must also overhaul its vegetation maintenance policies and review its response to 911 calls and requests for emergency de-energizing of lines. In addition to the fine, the settlement also requires West Penn to review all lines and infrastructure that does not service any customers and determine whether the lines can be de-energized and removed. The investigation also determined that three fault detection devices, which are meant to detect problems and cut power to the line, did not work properly on the day Colton was killed. Investigators also determined the trees and vegetation on Colton’s property had not been trimmed or managed since 2011. A brush fired spurred Colton to call the police, and as he and an officer walked the property, Colton came into contact with a live wire that, unbeknownst to them, caused the fire.Ĭolton died, and the PUC investigation found that it took an hour for West Penn to de-energize the lines, meaning no one could provide aid to Colton for an hour as he was continuously electrocuted. It stems from a PUC investigation sparked by the April 2018 death of Terry Colton on his West Deer property. Safety is a core value at West Penn Power, which we take very seriously.” “We believe this settlement is reasonable and in the public interest,” said West Penn spokesman Todd Meyers, “and we will abide by the terms of the agreement. The settlement, which includes a $1,175,000 fine, is between West Penn, part of First Energy, and the state’s Public Utility Commission.

#Valley news dis employee dave penn series

Nearly four years after a West Deer man died after coming into contact with a fallen live wire, Pennsylvania’s utility oversight board has agreed to a nearly $1.2 million settlement with West Penn Power, which must also undertake remediation work meant to prevent the series of failures that led to the 2018 death.