UTA Accuses Michael Kassan of Wasting Millions, Paramount Sells Viacom18 Stake for $517 Million and House Passes Bill That Could Ban TikTok

Plus: Trian slams Disney’s ‘scorched earth’ board campaign, BBC News launches 24-hour FAST streaming channel in U.S. and Iran court clears director Asghar Farhadi of plagiarism allegations [michael-kassan]( [Michael Kassan Accused of Using Millions of UTA Money for Private Jets, Chauffeur's Rent, Wife’s Shopping]( By Emily Smith MediaLink CEO Michael Kassan, a powerful executive in advertising and Hollywood who sold his company to UTA three years ago, is accused of spending millions of the agency’s money for private jets, his chauffeur’s rent and designer clothes for his wife among other “lavish” expenses, according to a lawsuit filed by UTA, obtained by TheWrap. In the lawsuit filed on Wednesday in L.A. Superior Court, UTA says that Kassan was fired after hiring a private investigator to look into “financial irregularities.” The well-connected Kassan has denied the allegations and hit back with his own blistering lawsuit saying he quit over a breach of contract by the agency. [Read More]( --------------------------------------------------------------- [Paramount Global Sells Viacom18 Stake to Reliance Industries for $517 Million]( By Lucas Manfredi Paramount Global will sell its 13% equity stake in India’s Viacom18 to majority shareholder Reliance Industries for $517 million. The closing of the transaction is subject to the “satisfaction of certain customary conditions, including receipt of applicable regulatory approvals,” as well as the completion of a previously announced joint venture involving Reliance, Viacom18 and Disney’s Star, according to an 8K filing with the U.S. Securities and Exchange Commission. [Read More]( --------------------------------------------------------------- [tiktok logo]( [House Passes Bill That Could Ban TikTok, 352 to 65]( By Kayla Cobb The House of Representatives has passed a bill that could lead to TikTok being banned in the United States. The bill was passed Wednesday 352 to 65, with 15 Republicans and 50 Democrats voting in opposition. It is currently unclear what will happen to the bill once it moves to the Senate. [Read More]( --------------------------------------------------------------- [Nelson Peltz and guests attends Day 4 of American Express Presents CARBONE Beach]( [Trian Slams Disney’s 'Scorched Earth' Board Campaign as One 'Calculated to Distract Shareholders' From Studio Problems]( [BBC News Logo]( [BBC News Launches 24-Hour FAST Streaming Channel for US Viewers]( [Asghar Farhadi]( [Iran Court Clears 'A Hero' Director Asghar Farhadi of Student Plagiarism Allegations Tied to Oscar-Winning Film]( [From left to right: former CNN anchor Don Lemon and Tesla founder Elon Musk (Getty Images)]( [Don Lemon Says Elon Musk Canceled His X Show Hours After Their Interview | Video]( --------------------------------------------------------------- [Wrap Pro logo] Discover why entertainment executives and professionals rely on the WrapPRO platform daily for exclusive coverage, analysis, deeper reporting, and access to VIP events & screenings throughout the year. [Subscribe Today]( --------------------------------------------------------------- [Facebook]( [Twitter]( [Instagram]( [YouTube]( TheWrap | 2034 Armacost Ave Los Angeles, CA 90025 [Preferences]( | [Unsubscribe]( [LiveIntent Logo]( [AdChoices Logo](