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Cable’s MSNBC will change its name later this year as part of corporate divorce from NBC

SUMMARY:

  • to change name to later this year
  • Network drops NBC branding and peacock logo
  • Part of spinoff into new company,

Television’s MSNBC news network is changing its name to My Source News Opinion World, or MS NOW for short, as part of its corporate divorce from NBC.

The network, which appeals to liberal audiences with a stable of personalities including , and Nicole Wallace, has been building its own separate news division from NBC News. It will also remove NBC’s peacock symbol from its logo as part of the change, which will take effect later this year.

The name change was ordered by , which last November spun off cable networks USA, CNBC, MSNBC, E! Entertainment, Oxygen and the Golf Channel into its own company, called Versant. None of the other networks are changing their name.

MSNBC got its name upon its formation in 1996, as a partnership then between Microsoft and NBC.

Name changes always carry an inherent risk, and MSNBC President Rebecca Kutler said that for employees, it is hard to imagine the network under a different name. “This was not a decision that was made quickly or without significant debate,” she said in a memo to staff.

“During this time of transition, NBC Universal decided that our brand requires a new, separate identity,” she said. “This decision now allows us to set our own course and assert our indepedence as we continue to build our own modern newsgathering organization.”

Still, it’s noteworthy that the business channel CNBC is leaving “NBC” in its name. MSNBC argues that CNBC has always maintained a greater separation and, with its business focus, is less likely to cover many of the same topics.

Still, the affiliation between a news division that tries to play it safe and one that doesn’t hide its liberal bent has long caused tension. President Donald Trump refers to the cable network as “MSDNC,” for Democratic National Committee. Even before the corporate change, NBC News has been reducing the use of its personalities on MSNBC.

Some NBC News personalities, like Jacob Soboroff, Vaughn Hillyard, Brandy Zadrozny and Antonia Hylton, have joined MSNBC. The network has also hired Carol Leoning, Catherine Rampell and Jackie Alemany from the Washington Post, and Eugene Daniels from Politico.

Maddow, in a recent episode of Pivot, noted that MSNBC will no longer have to compete with NBC News programs for reporting product from out in the field — meaning it will no longer get the “leftovers.”

“In this case, we can apply our own instincts, our own queries, our own priorities, to getting stuff that we need from reporters and correspondents,” Maddow said. “And so it’s gonna be better.”

Virginia casinos report $84.7M in July revenue


SUMMARY:

  • Virginia earned $84.7 million in July, up $6.2 million from June
  • in led with $35.06 million in revenue
  • For the month of July, taxes from adjusted revenues totaled about $16.64 million

July gaming revenues from Virginia’s three casinos totaled $84.7 million, up $6.2 million from June according to a Friday report from the Virginia Lottery.

The state’s newest permanent casino, Danville’s Caesars Virginia resort, led the field with $35.06 million in adjusted gaming revenues (wagers minus winnings). About $24.56 million came from its 1,474 slots and roughly $10.50 million from 100 table games.

In Southwest Virginia, Hard Rock Hotel & Casino reported about $22.9 million in adjusted gaming revenues, of which about $18.64 million came from its 1,400 slots and about $4.26 million came from its 73 table games.

Rivers Casino Portsmouth generated about $18.88 million in July from its 1,422 slots and about $7.89 million from its 84 table games, for total adjusted gaming revenues of about $26.77 million.

Virginia law assesses a graduated tax on a casino’s adjusted gaming revenue. For the month of July, taxes from totaled about $16.64 million.

Under Virginia law, 6% of a casino operator’s adjusted gaming revenue goes to its host locality until the operator passes $200 million in AGR for the year, at which point the host locality’s tax rate rises to 7%. If an operator passes $400 million in AGR in the calendar year, that rises to 8%.

For July, Portsmouth received 6% of the Rivers Casino Portsmouth’s AGR, getting nearly $1.61 million. Danville received 7% of the Caesars Virginia casino’s adjusted gaming revenue, amounting to roughly $2.38 million. For the Bristol casino, 6% of its adjusted gaming revenue — more than $1.37 million last month — goes to the Regional Improvement Commission, which the established to distribute Bristol casino tax funds throughout Southwest Virginia.

The Problem Gambling Treatment and Support Fund receives 0.8% of total taxes — about $133,151 last month. The Family and Children’s Trust Fund, which funds family violence prevention and treatment programs, receives 0.2% of the monthly total, which was approximately $33,288 in July.

Two more casinos are on the horizon in Virginia.

Construction began on the long-awaited $750 million Norfolk casino by development partners and the in February. A temporary casino, dubbed The Interim Gaming Hall, is expected to open in November. Developers named Ron Bailey as vice president and general manager for the forthcoming casino earlier this month.

In November 2024, more than 80% of Petersburg voters said yes to the city’s casino referendum. Baltimore-based The Cordish Cos. and Virginia Beach developer Bruce Smith Enterprise broke ground on the $1.4 billion casino in March.

In May, Rivers Casino and Chicago-based Rush Street Gaming announced they are planning to break ground on a $65 million hotel in Portsmouth this summer, more than two years after the casino first opened.

Former Tyson Foods plant in Hanover sells for $5M

The former chicken processing plant in has sold for $5 million.

Cushman & Wakefield | Thalhimer announced on Tuesday the sale of the property at 13264 Mountain Road, which is located close to the Hanover-Henrico county line near Glen Allen.

Hanoverlovestheproperty LLC bought the 208,000-square-foot industrial/manufacturing building from Tyson Farms. Hanoverlovestheproperty is registered to the address of Sweetie Boy Transportation in Richmond.

Tyson closed the plant in May 2023, laying off 692 employees. It also closed a plant in Arkansas at that time, eliminating 969 jobs.

Graham Stoneburner, Danny Holly and Chrissy Chappell from Cushman & Wakefield | Thalhimer represented the seller in sale negotiations.

TowneBank to close on $203M Old Point deal Sept. 1

Suffolk-based expects to close Sept. 1 on its $203 million acquisition of Hampton-based National Bank of Phoebus and its parent company, Old Point Financial Corp., according to a Thursday announcement.

The deal, which will firmly cement TowneBank’s position as the bank with the most market share in , has received regulatory approval from the Federal Deposit Insurance Corp. and the Virginia State Corporation Commission’s Bureau of Financial Institutions.

Following the closing of TowneBank’s Old Point acquisition, the combined company would have total assets of $19.5 billion, loans of $13.1 billion and deposits of $16.3 billion based on financial information reported as of Dec. 31, 2024.

Under the terms of the merger , Old Point shareholders can elect to receive either $41 in cash or 1.14 shares of TowneBank common stock for each share of Old Point outstanding common stock. Shareholders can elect cash or a stock consideration, as long as the total stock consideration issued represents between 50% and 60% of the total consideration. Elections must be made by 5 p.m. on Aug. 26.

Old Point has 13 bank branches, three commercial lending offices and three wealth management offices throughout the Hampton Roads area, as well as a commercial lending office in the Richmond area. As of the end of March, Old Point reported $1.45 billion in assets, $1 billion in loans and $1.26 billion in total deposits.

TowneBank announced the completion of its acquisition of Midlothian’s Village Bank and its parent company Village Bank and Trust Financial in April. That deal was valued at about $120 million.

Minnesota-based Piper Sandler & Co. served as the financial adviser for the Old Point acquisition deal while New York-based Wachtell, Lipton, Rosen & Katz served as lead legal counsel, with Richmond’s Williams Mullen as local counsel to TowneBank in the transaction. New York-based Keefe, Bruyette & Woods, a Stifel Company, served as the financial adviser to Old Point, with Pennsylvania-based Troutman Pepper Locke serving as legal counsel.

Acquisition-related expenses for TowneBank totaled $18.74 million in the second quarter, according to financial filings.

Founded in 1999, TowneBank has 58 locations across Central and Eastern Virginia and North Carolina. It had total assets of $17.25 billion as of Dec. 31, 2024.

Tracking Solana’s Market Momentum: What’s Next for the Network

Crypto market watchers have been wise to keep a keen eye on the ever-changing landscape of blockchain technology and digital assets. Different shifts, some subtle and others glaring, may offer distinct insights when viewed in context. Each of these shifts should be considered by both those already invested in tech and those who may not have yet jumped in.

Even so, it can be difficult to differentiate meaningful movements from noise. Understanding the digital finance market requires reliable sources and tools to help gain clarity. A useful key indicator in the digital asset space, keeping a well-trained eye on Solana price changes can help both seasoned investors and the crypto-curious alike better understand the market and anticipate possible changes on the horizon.

What is Solana?

First, for those who may be less acquainted, it may help to have a general understanding of Solana’s core identity and appeal to investors. Solana has distinguished itself in a crowded market as an incredibly fast, ultra-scalable blockchain platform. Alongside lightning-quick transaction speeds, the network also offers a low-fee platform, making it an attractive option to those looking to grow quickly but may be cash-strapped during an initial growth phase. Its utility token, SOL, powers everything from application interactions to staking. These characteristics have enabled Solana to emerge as a key choice in the consumer tech space, whether for NFTs (non-fungible tokens) or Web3 .

What May Be Fueling Current Price Movements

Aside from versatility and speed, other factors may be influencing the current price changes of Solana. For one, considerable growth in the application ecosystem is likely a cause of the uptick in Solana-based applications, such as its marketplaces, Magic Eden and Helium. The blockchain network has ventured into real-life applications through avenues, such as Solana Pay, and even mobile devices like the Saga phone, offering a blockchain-centric design.

Traditional financial institutions and outlets have also taken note of the shifts. With positive mentions from longstanding outlets like Bloomberg, Solana is increasingly enjoying wider acceptance in more traditionally minded circles. For those who rely heavily on the NASDAQ to inform their next financial decision, they may be able to likewise peer at Solana’s presence within the market to determine their next strategy. Incorporation into and broader acceptance by these financial institutions has helped to stabilize Solana on the financial market, boosting investor confidence and developer trust at the same time.

Historic Volatility Meets Long-Term Growth

Like others in the blockchain and crypto space may attest, the road to institutional acceptance for Solana has been a bumpier one. The SOL coin has experienced its own boom and bust cycles, which have sometimes mirrored the broader market and, in other cases, deviated from it. Today’s current valuations appear to reflect the areas that are supportive of blockchain technology versus those that remain resistant to adoption.

Even so, Solana has risen to prominence when compared to other blockchain networks. The transaction speed and novel Proof-of-History (PoH) consensus mechanism that Solana utilizes have enabled the network to distinguish itself in an increasingly crowded field of smart contract platforms. Hedging its bets on speed, Solana has recently introduced the independent validator Firedancer to further accelerate transactions. Staying true to its disruptive roots, Solana’s foundation has continued to lead with global developer grants and hackathons, while expanding into consumer spaces with more user-friendly Web3 tools.

Tools for Tracking

Keeping track of Solana’s steps doesn’t need to be a full-time job. Savvy investors can rely on online publications to accurately track the price of SOL. In addition to providing up-to-the-minute pricing information, these tools can also offer commentary and insights on price changes. Additionally, some applications can even integrate wallet connectivity and on-chain data overlays.

Considerations for Investors

When making investment decisions, investors must consider the various risks and potential outcomes associated with their investments. For Solana specifically, investors may want to evaluate the ongoing rivalry for different networks and consider which blockchain offers more secure Layer 1s or simply greater speeds. Investors must always consider the legal landscape surrounding cryptocurrency and blockchain, and follow key legal proceedings that may impact valuations.

Still, legal questions can exist for nearly any investment option; staying knowledgeable about these discussions is a key strategy for building a strong portfolio. Similarly, investors can hedge their portfolios by staying informed today while observing future potential. Tracking Solana’s price changes can help investors stay informed today and anticipate future trends.

Musk’s SpaceX pans Virginia broadband plan as ‘massive waste’

Summary

  • In letter to state, SpaceX calls Virginia’s $613M access plan a “massive waste” of federal funds
  • Elon Musk-run company received small award compared to fiber internet providers
  • State has sent proposal to Commerce Department for approval

Elon Musk’s SpaceX wrote a letter this week slamming Virginia’s federal broadband grant proposal, calling it a “massive waste of federal taxpayer money” and accusing the state of unfairly rejecting a proposal from SpaceX’s satellite-based internet service.

The state has submitted a grant proposal to the federal government seeking $613 million to finish expanding high-speed internet access to more than 133,000 locations in the state that lack reliable internet. Most of the funding, if awarded, would go toward fiber-based broadband instead of cheaper satellite-based internet services, such as those SpaceX offers through its Starlink subsidiary.

The Aug. 13 letter to Virginia’s state government, which SpaceX released publicly, argues that the federal government, which is funding part of the state’s , should deny the state’s proposal.

According to SpaceX’s letter, the state could spend $60 million with SpaceX and provide internet access to everyone in the state, instead of $613 million in federal funding.

Last week, the Virginia Department of and Community Development, which oversees the state’s broadband expansion program, released its final proposal to the federal government’s Broadband, Equity, Access and Deployment (BEAD) program. The plan proposes to spend $613 million in federal funding, in addition to $434 million in private investment from internet providers.

Fiber-based internet providers Comcast, All Points Broadband, RiverStreet Networks and ZiTel were awarded more than 70,000 of the state’s 133,500 locations for internet expansion, while SpaceX received only 2,759 and satellite competitor Commercial Services won nearly 7,000 locations.

This works out to a windfall for the fiber internet companies. All Points Broadband would receive the most, $171 million, and Comcast would receive the second highest amount, $146 million, if the state’s plan is approved. Meanwhile, SpaceX would receive only $3.2 million and Kuiper would get $4.4 million.

The U.S. Department of Commerce’s National Telecommunications and Information Agency must approve the plan for the state to receive funding, but the change in White House administrations has created political strife over fiber vs. .

Run by Elon Musk, SpaceX began launching Starlink satellites in 2019 that provide internet service to remote communities via low-orbit satellites.

In Southwest Virginia, the Health Wagon has begun connecting patients to telehealth diagnosticians via Starlink internet, and the service has gained a foothold in coal country and other far-flung places where it is expensive to lay fiber to each household and business.

, Amazon’s founder, started Starlink competitor satellite orbit company Project Kuiper in 2019, although it has only launched 54 production satellites out of 3,236 it plans to operate.

Both Bezos and Musk have made financial contributions to President Donald Trump’s campaign or inauguration fund, and Musk briefly went to work for the White House, running the Department of Government Efficiency, or DOGE.

Critics of the have said it’s no coincidence that the federal government seems to be biased toward satellite internet because of Trump’s ties to the tech billionaires. Even without the political overtones, some in the telecommunications industry nonetheless feel that satellite tech is not reliable enough and view fiber broadband as the gold standard.

Starlink’s satellites are estimated to have an average lifespan of five years before they must be replaced, and under current federal law, there’s a finite number of satellites that can be launched. Also, satellites require unblocked signals, unlike fibers, which direct electrical signals to buildings.

SpaceX calls for the NTIA to reject Virginia’s plan for multiple reasons, arguing that the company “submitted a highly competitive and cost-effective proposal” to serve more than 80,000 locations in Virginia but was provisionally awarded only 2,900 locations in the state’s plan.

What’s more, SpaceX says that the state “used unpublished and inaccurate evaluation criteria to dismiss SpaceX’s application” and “began with a preordained result and then overlaid a paper-thin veneer of ‘analysis’ to unlawfully achieve its preferred outcome — maximum taxpayer spending benefiting specific companies and a misapplication of competitive rules.” It also says that the state wishes to award $91 million to other companies to lay fiber within 100 meters of households receiving internet access via Starlink.

“Today’s grant proposal reflects Virginia’s commitment to ensuring every community has access to the modern connectivity it needs to thrive,” DHCD Director Maggie Beal said in an Aug. 6 statement with the release of the state’s proposal. “By utilizing a smart mix of technologies — from fiber to fixed wireless to satellite — we’re maximizing the impact of every taxpayer dollar and building a stronger, more connected Virginia.”

The DHCD did not respond immediately to a request for comment Thursday on SpaceX’s letter.

Rosie’s Gaming in Dumfries to close in August

Rosie’s Emporium in , which opened in 2021, is set to close this month, the announced Thursday.

Owned by , the venue is shutting down on Aug. 20. Gaming Resort wagering facility opened in the town in in November 2024. Rosie’s 50 employees will move to The Rose, according to the letter, and Colonial Downs Group will surrender its state license to operate the Dumfries Rosie’s.

Colonial Downs, a subsidiary of Churchill Downs, notified the VRC, which oversees pari-mutuel wagering and horse racing for the state, of the closing on July 18, according to the commission’s statement.

The company, which owns and operates six other Rosie’s locations in Virginia and The Rose, as well as the Colonial Downs racecourse in New Kent County, must submit detailed plans addressing provisions for employees, honoring all winning tickets and player points for patrons, and consultation with local stakeholders.

The VRC board plans to hold a public hearing and then vote on surrendering the license, and the process is separate from the closing of the venue.

“An operator’s business decision to close does not end its obligations to Virginia or its patrons. Our role is to enforce those obligations,” VRC Executive Secretary Waqas Ahmed said in a statement, “and that a comprehensive plan is executed that protects the interests of every stakeholder.”

Marine/RV parts wholesaler announces $1.1M expansion in Norfolk

Florida-based , a distributor of marine and recreational vehicle parts and accessories, will invest $1.1 million to expand in , with plans to create 29 jobs.

made the announcement Tuesday. The company relocated from its previous 61,800-square-foot facility to a new 120,000-square-foot facility at 3321 E. Princess Anne Road.

Land ‘N’ Sea Distributing has had a presence in Norfolk since 1992, when it acquired Norfolk Marine Distributors. The coincides with its planned introduction of approximately 5,000 new products, the company says, and will accommodate increased inventory, improve operational efficiency and enhance logistics capabilities.

“Land ‘N’ Sea has been part of Norfolk’s business fabric for more than three decades, and this expansion reflects both their confidence in the region and the rising demand in the marine and recreational vehicle industries,” Virginia Secretary of Commerce and Trade Juan Pablo Segura said in a statement. “This project is about more than just square footage — it’s about scaling operations, creating new jobs and deepening roots in a community that understands the value of logistics and supply chain innovation. We’re proud to support this growth alongside our local and regional partners.”

The Virginia Partnership worked with Norfolk city government and the to secure the expansion. Mayor Kenny Alexander said the company’s continued growth in Norfolk “reinforces our city’s role as a key logistics and business hub on the East Coast.”

A spokesperson for the company said the new facility is fully operational and actively doing business.

Headquartered in Pompano Beach, Florida, Land ‘N’ Sea Distributing has been in business for 50 years, serving the marine, RV and personal watercraft industries. It has 900 employees companywide.

Newport News reveals plans for $400M Navy housing project


SUMMARY:

  • and the plan to build 750 sailor units and 10,000 square feet of downtown
  • Construction is expected to begin next year
  • An investment of up to $400 million from the Navy and a $40 million state treasury loan are helping finance the project

Aided by a commitment from the to invest as much as $400 million, Newport News plans to begin work next year on two downtown apartment towers that will provide for sailors and 10,000 square feet of retail space.

Florence Kingston, the city’s director of development, briefed Newport News City Council on Tuesday on plans for the project, which calls for the construction of 750 for sailors. The development involves replacing various buildings, including the Huntington Hall site, owned by Newport News Shipbuilding, and the city-owned Julius Conn Gym.

The 930,000-square-foot-plus project, to be built in two phases, will be located between Huntington Avenue and Warwick Boulevard, and on 32nd and 29th streets. The project’s first phase involves a 555-unit apartment complex featuring two 17-story towers. The phase also includes the construction of 6,090 square feet of retail space and a four-story garage with 1,050 spaces.

The second phase will include the remaining 195 apartments plus 4,000 additional square feet of retail and a 30,000-square-foot building for Navy programming.

“I think this is just the first of many steps for a very bright economic opportunity for our traditional downtown,” said Newport News City Manager Alan Archer.

The Navy is partnering with Hunt Military Communities to develop the project. The city is “prepped to move this project quickly,” Kingston said, with construction expected to begin in spring or summer 2026. Details on when the project would be completed were not provided, and the city and the Navy did not immediately return requests for comment.

“This is a major milestone for the ongoing partnership and collaboration with the Navy [for] sailor quality of service, and will be a boon for our existing revitalization work downtown that continues to gain momentum,” Kingston said.

An early site plan for the Navy-backed housing and retail development planned for downtown Newport News. Image courtesy City of Newport News.

Following a series of suicides among -based sailors and an investigation that concluded the Navy failed its personnel, the Navy in 2023 launched an effort to improve sailors’ quality of life, including expanding access to off-base housing.

Archer said that while the Navy has advanced efforts nationwide to enhance sailors’ quality of life, “special attention” has been given to Newport News. He stated that the Navy is investing between $350 million and $400 million in the project.

Kingston noted, however, that the Navy funding will only cover the housing component of the project. She said additional investments will be forthcoming for other aspects of the project, such as parking.

Newport News has received a $40 million treasury loan from the state to help finance the project. However, Mayor Phillip Jones stated during the meeting that he intends to request that the either forgive the loan or convert it to a capital expenditure.

“This has been, I think, perhaps, the best thing that we’ve done in a long time,” Jones said of the project. “This going to completely change the skyline of downtown Newport News. To use an term, this is going to be an anchor that draws and pulls everyone into downtown.”

The council on Tuesday also unanimously voted to appropriate $5.5 million to support downtown initiatives, including the Navy housing project.

Temporary Norfolk casino to open in November

The temporary predecessor to the $750 million is expected to open in November, its developers announced Thursday.

The developers, and the , also announced the name of the temporary facility: The .

Located beside the permanent resort site, The Interim will have more than 130 slot machines on a single-level floor and some food and beverages. Its initial hours will be from 10 a.m. to 2 a.m. daily.

“The Interim Gaming Hall is a perfect brand for our temporary casino — a sneak peek of the exciting gaming experience and memorable guest service we plan to offer the entire Hampton Roads community,” said Ron Bailey, vice president and general manager of the , in a statement. “Having said this, our focus remains on delivering on our vision of a best-in-market gaming entertainment destination.”

Boyd and the expect to open the permanent casino resort, which is currently nameless, in late 2027. Expected to create 850 jobs, the resort will have a 65,000-square-foot casino, a 200-room hotel, eight food and beverage outlets, and a 45,000-square-foot outdoor deck. It will also include 1,500 slot machines and 50 table games, as well as 13,000 square feet of meeting space and 4,000 square feet of spa and gym space. The operators expect to announce its brand next year, according to a news release.

Construction began in February on the long-awaited casino. The resort casino was approved by Norfolk voters in fall 2020, but construction was delayed due to conflicts over design plans between Norfolk City Council and the developers. An earlier partnership between the Pamunkey tribe and Tennessee investor Jon Yarbrough ended last year, and Boyd Gaming entered the picture. At that time, Boyd and the tribe scrapped the casino’s previously announced branding as the HeadWaters Resort & Casino.

In September 2024, Norfolk City Council approved the development agreement between the city, the tribe and Boyd, and since then, the project has moved forward.

Virginia Beach’s S.B. Ballard Construction and Mississippi-based Yates Construction — the companies that built Rivers Casino Portsmouth — are leading the resort’s construction.

Virginia has three operating casinos in , and Portsmouth, and construction on the $1.4 billion Live! Casino & Hotel Virginia in Petersburg began in March.