The Chernin Group made three acquisitions yesterday in order to form a new sports media network. Meanwhile, Amazon got ordered to pay millions of euros in back taxes, and Ben & Jerry's struck a deal to improve working conditions.

Chernin Group acquires three companies

The Chernin Group, which is the parent company of Barstool Sports, acquired three new companies yesterday. They are going to combine FantasyLabs, Sports Action, and Sports Insights into a new sports media network called The Action Network.

FantasyLabs provides those who play daily fantasy sports with data and tools so that they are able to build profitable lineups.

Sports Action is a native platform app that offers real-time scores, odds, picks and tracking for bettors. Sports Insights provides sports information and betting services, including live odds, public betting trends and sports betting software.

The Action Network will combine these three companies in order to deliver premium content and analytics to sports fans involved in sports wagering and/or fantasy markets. Chad Millman, a former sports media executive at ESPN, will serve as the new network's head of media.

Amazon ordered to pay back taxes

Today, European Union (EU) regulators ordered Amazon to pay the country of Luxembourg $295 million in back taxes.

The EU's Competition Commissioner, Margrethe Vestager, said that “Luxembourg gave illegal tax benefits to Amazon. As a result, almost three-quarters of Amazon's profits were not taxed,” per Yahoo Finance.

This decision was based on a tax ruling the country issued back in 2003 and prolonged in 2011. It reduced the amount of taxes the online retail giant paid “without any valid justification” for them paying less, according to Yahoo Finance.

This was the end result of an almost three-year-long investigation into Amazon and Luxembourg's tax ruling.

Ben & Jerry's strikes deal with workers

Tuesday, Ben & Jerry's struck a deal with migrant dairy workers to improve their working conditions and pay. The company signed an agreement with Migrant Justice, a farmworkers group.

This agreement sets up labor standards for company suppliers in Vermont. It also creates an enforcement strategy that supports workers speaking up about violations and gives them a 24-hour hotline to do so.

The agreement, called “Milk With Dignity,” also ensures that workers at the dairy farms that supply the company will earn at least the state's minimum wage of $10 an hour. It also gives them the right to take one day off each week. Ben & Jerry's must now get its milk only from farms that adhere to these standards.
© ALL RIGHTS RESERVED