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Stock impact report

Kanye West was booked as a festival headliner. Brands are now pulling their sponsorship [CNN]

Diageo plc (DEO) 
US:NYSE Investor Relations: diageo.com/en/investors
Company Research Source: CNN
The rapper, who goes by the name Ye, has faced backlash in recent years after making repeated antisemitic and offensive remarks. Pepsi was the main sponsor of Wireless, which will be held in London's Finsbury Park from July 10-12. “Pepsi has decided to withdraw its sponsorship of Wireless Festival,” a company spokesperson told CNN Monday. Diageo, which owns brands such as Guinness, Baileys, Smirnoff, Ciroc and Wireless partners Captain Morgan and Johnnie Walker, has also withdrawn its support for the festival. “We have informed the organisers of our concerns and as it stands, Diageo will not sponsor the 2026 Wireless festival,” a spokesperson for Diageo told CNN. CNN has reached out to Wireless Festival and other partners for comment. West – who previously said he had bipolar disorder before saying last year that he had been misdiagnosed and instead has autism – took out a full-page advert in the Wall Street Journal in January to apologize for his previous comments. “I Show less Read more
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