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Big 12 considers major private equity investment, report says
The Big 12 Conference is reportedly considering a private equity investment of up to $1 billion in what would be a first-of-its-kind deal in the world of college sports.<\p> The conference, headquartered in Irving, could receive a cash infusion of $800 million to $1 billion from Luxembourg-based private equity giant CVC Capital Partners in exchange for a 15% to 20% stake in the league, according to a CBS Sports report that cited "multiple" unnamed sources. A portion of the money would go directly to the Big 12's 16 conference members, according to the report.<\p>
Most Americans still struggle to get away from work while on vacation
Most Americans struggle to get away from work while on vacation, even as some progress is being seen in restoring work-life balance.<\p> About 59% of the 2,000 Americans surveyed by communications firm Movchan Agency said they struggled to switch off during their downtime and 63% said they felt anxious if they didn’t check work emails while away. Overall, 54% said they worked while on vacation, although that's a lower share than previous years. <\p>
High-rise gets $15M renovation — and foreclosure notice
A prominent high-rise in Uptown's popular West Village neighborhood has received a $15 million makeover — but is also being threatened with foreclosure by a lender.<\p> Houston-based apartment developer Vero Sade has completed renovations to the 21-story, 381-unit building at 3700 McKinney Ave. it calls 3700M, the company said June 12.<\p>
Brewery's demise in Dallas sets off soul searching
The Deep Ellum home of a brand synonymous with the Dallas craft-brewing community is no more, not long after it was bought by the beverage giant that makes Monster Energy drinks.<\p> Deep Ellum Brewing Co., known for producing the Dallas Blonde ale and Deep Ellum IPA, said May 30 in an Instagram post that it decided to close its taproom and brewhouse. “While our hearts are heavy with this news today, our love for Deep Ellum will always run deep," the company wrote. Two decades ago, the craft brewery was the first to open in Dallas, on property that used to house a paper company on St. Louis Street, according to WFAA.<\p>
The Playbook: The common pay threads for high-performing companies
Editor's Note: Welcome to The Playbook Edition, a look at stories, trends and changes that could affect your business and career. Want more stories like this in your inbox? Sign up for The Playbook newsletter. <\p> During a time when more workers expect transparency around pay, most top-performing companies are proving to be forthcoming — but that's not the only common thread. <\p>
100+ layoffs result from home health agency support center closure
A home health agency is closing a North Dallas corporate office and laying off 102 employees. <\p> Intrepid U.S.A. Inc. is ceasing operations at its national support center at 14841 Dallas Pkwy., according to a Worker Adjustment and Retraining Notification Act letter it sent to the state. Thirteen employees based in Dallas and 89 working remotely who report to the office are expected to lose their jobs between Aug. 5 and Aug. 19.<\p>
Luxe hotel near Toyota campus will be unlike anything else in Texas
An upcoming grand and unique hotel in Plano has generated significant buzz around how exactly the project will fuse Japanese sophistication with big Texas, Southern-style charm.<\p> The Miyako Hotel, located on the south side of Campus at Legacy near Toyota’s North America headquarters, aims to not only cater to Japanese employees visiting the company, but also to a broader public looking for a special and authentic experience. It is expected to deliver in mid-2027.<\p>
Alamo Drafthouse bought by industry giant
After a rough couple of years, a popular Texas-based chain of movie theaters has a new owner.<\p> Alamo Drafthouse Cinema LLC has been bought by Sony Pictures Entertainment Inc., according to a June 12 announcement. Alamo Drafthouse will keep its CEO, Michael Kustermann, and headquarters in Austin and will be managed by Sony's newly established division called Sony Pictures Experiences.<\p>
South Dallas, long neglected by banks, gets fresh financial attention
American National Bank of Texas plans to open a loan production office in South Dallas this fall as the Terrell-based bank looks to expand its services to underserved communities in North Texas.<\p> The office will be located at 820 Exposition Ave. and offer various lending services, including business and commercial loans, American National announced June 12. The location will also have a dedicated South Dallas mortgage lender and become the central hub for American National's teams focused on emerging markets and community engagement.<\p>
Dallas lands headquarters relocation from Oregon
IMN Enterprises LLC, a health care staffing firm from Portland, Oregon and parent company of ICON Medical Network, is relocating its headquarters to Dallas.<\p> Dallas’ central location was an important factor that determined IMN Enterprise’s relocation as it allows the firm to more easily reach employees, IMN founder Ashley Simpson said. <\p>
Near Alliance, hundreds of new apartments planned
Woodfield Development LLC plans a new multifamily community in far north Fort Worth.<\p> Northwest Village is expected to have two buildings with 455 units combined and total about 577,000 square feet, according to state filings. It will be located on Roaring River Road and State Highway 114, crossing over into Denton County near AllianceTexas.<\p>
Want to pitch DBJ? Here's another reporter to contact
Dallas Business Journal has added another journalist to cover the booming North Texas economy, at least for the summer: Leonardo Rosas.<\p> Rosas on June 10 joined the newsroom as part of the Dow Jones News Fund internship program. He will cover a wide variety of topics including real estate and small and minority-owned businesses.<\p>
Dallas-based oil company agrees to $1.9B deal
Dallas-based Matador Resources Co. announced June 12 that a subsidiary will acquire a unit of Austin-based Ameredev for $1.9 billion in cash, expanding its presence in the Delaware Basin in West Texas.<\p> The acquisition of the Ameredev II Parent LLC unit includes oil- and natural gas-producing properties and undeveloped acreage in Lea County, New Mexico, and Loving and Winkler counties in Texas. The deal also includes a 19% stake in Piñon Midstream LLC, which has midstream assets in southern Lea County.<\p>
H-E-B opens different kind of store in southern Dallas food desert
H-E-B executives and community leaders on June 11 celebrated the arrival of the grocery chain's value-focused brand in North Texas.<\p> The first location of Joe V’s Smart Shop in Dallas-Fort Worth, and the first outside of the Houston area, is set to open this week at 4101 W. Wheatland Road. That's in an area near Duncanville that had been considered a food desert, with few options for fresh groceries.<\p>
Major expansion on tap for Fort Worth Stockyards
The business and civic leaders holding the keys to the future of the Fort Worth Stockyards plan a large second phase of development, a possible $630 million investment, it was revealed June 11 during a presentation to Fort Worth City Council.<\p> Fort Worth Heritage LLC, a collaboration between Majestic Realty Co. and Hickman Cos. and development partner M2G Ventures, aims to add about 300,000 square feet of commercial space to the area, which sees about 9 million visitors a year. On the way could be new hotels, a multifamily community, two underground garages and improvements to the area including green space and amenities, according to the public presentation.<\p>
WeWork emerges from bankruptcy, appoints new CEO
After filing for bankruptcy protection in November, New York-based WeWork Inc. said Tuesday it has emerged from Chapter 11 and completed its operational and financial restructuring.<\p> The coworking giant's new era will include a new board of directors and a new chief executive. John Santora will become WeWork's new CEO, effective Wednesday. Santora joins WeWork from commercial real estate firm Cushman & Wakefield PLC (NYSE: CWK), where he most recently served as the firm’s Tri-State chairman.<\p>
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