The Lakers Just Became the Most Highly Valued Sports Team Ever. Again.

P.M. Edition for Aug. 12. Former Disney CEO Bob Iger and investor Joshua Kushner are buying the Los Angeles Lakers for $12.5 billion—the highest-ever valuation for any sports team. WSJ sports reporter Andrew Beaton discusses the sale, which he calls a “stunning twist.” Plus, inflation cooled slightly last month to 3.4%. Journal economics reporter Matt Grossman joins to talk about what it could mean for the Federal Reserve. And ticket reseller StubHub reported record revenue, thanks in part to this summer’s World Cup. But as retail reporter Hanna Krueger details, both during and well before the World Cup, some fans were disappointed when the tickets they bought on StubHub didn’t work and they faced lengthy fights to get their money back. Alex Ossola hosts. Sign up for the WSJ's free What's News newsletter. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.