**FOR IMMEDIATE RELEASE**

FOR IMMEDIATE RELEASE

DATELINE: DALLAS, TEXAS – 14:00 CST

HEADLINE: CUBAN DIVESTS MEDIA HOLDINGS, REFOCUSES ON PHARMACEUTICAL DISRUPTION

REPORTING SOURCE: GLOBAL FINANCIAL NEWS NETWORK (GFNN)

WHAT: Billionaire entrepreneur and “Shark Tank” investor Mark Cuban has formally announced the complete divestiture of his remaining equity stake in 2929 Entertainment, the parent company of his media and entertainment holdings. In a simultaneous statement, Cuban confirmed a total strategic pivot toward the healthcare sector, specifically scaling his pharmaceutical price transparency initiative, Mark Cuban Cost Plus Drug Company.

WHO: The announcement was made by Mark Cuban at a press conference in Dallas, citing a “fundamental refocusing of capital and time” toward combating high drug prices. Cuban did not disclose the buyer of his media assets.

WHEN: The transaction closed earlier this week, with the public announcement taking place today.

WHERE: The press conference was held at the headquarters of Cost Plus Drugs in Dallas, Texas. The divested media assets include Landmark Theatres and the Magnolia Pictures distribution label.

WHY: Cuban stated, “The fight to make essential medications affordable is the most critical business challenge of our lifetime. My full attention must be on disrupting the pharmaceutical supply chain. The media landscape has changed, and my time is better spent on a mission that directly saves lives.”

CONTEXT: Following the news, shares of several publicly traded pharmacy benefit managers (PBMs) saw a slight dip. Cuban’s Cost Plus Drugs model eliminates traditional markups and PBM rebates, offering medications at a 15% markup plus a flat dispensing fee. This marks the first time Cuban has fully exited the media space since selling HDNet (now AXS TV) in 2019.