All articles tagged with #media company
Paramount and Skydance Media have completed a merger, creating a next-generation global media and entertainment company that includes a diverse portfolio of brands such as Paramount Pictures, CBS, Nickelodeon, MTV, Showtime, and Skydance's divisions in animation, film, TV, and more.
LA Times owner Soon-Shiong announced plans to take the newspaper public, sparking concerns among staff and analysts about the move's effectiveness in addressing the paper's financial struggles, with some questioning the viability of such a transition for a local newspaper.
Merit Street Media, a media company launched by Dr. Phil McGraw, filed for Chapter 11 bankruptcy less than two years after its launch, citing assets and liabilities between $100 million and $500 million, and is suing Trinity Broadcasting Network for failing to meet distribution commitments.
Donald Trump's social media company, Trump Media & Technology Group, saw its stock value soar by 35% in premarket trading after his projected election victory, increasing its market value to about $9 billion. Trump, the dominant shareholder, saw his shares rise in value from $3.9 billion to $5.3 billion. Despite the company's limited revenue and losses, the stock's surge is attributed to traders betting on Trump's win and a potential short squeeze. The company's valuation now exceeds that of major brands like Macy's and JetBlue, despite its modest revenue.
Sean "Diddy" Combs has sold his stake in Revolt, the media company he founded, amid ongoing sexual assault allegations. The company announced a new ownership structure that includes employee equity stakes. This move follows several lawsuits, including one from R&B singer Cassie, accusing Combs of abuse and rape, which he settled shortly after it was filed.
Sean "Diddy" Combs sold his majority stake in Revolt, transitioning ownership to the company's employees, amid multiple sexual assault allegations and potential criminal charges.
Sean Combs has sold his majority stake in Revolt, the media company he founded, amid mounting sexual assault allegations. Revolt announced that Combs' shares have been fully redeemed and retired, and the company will remain Black-owned and operated. This move comes after Combs faced multiple lawsuits and a federal investigation, with recent developments including a video apology for past abusive behavior.
Sean Combs has sold his majority stake in Revolt, the media company he founded, amid mounting legal scrutiny over allegations of sexual and physical abuse. The largest shareholder group at Revolt is now made up of employees. This move follows a series of lawsuits filed against Combs, including one from his former girlfriend, Cassie, which has significantly impacted his business empire.
The CFO of a multinational media company, Weidong Guan, has been charged with laundering approximately $67 million in fraud proceeds, including unemployment insurance benefits, through a complex transnational scheme involving cryptocurrency. Guan allegedly lied to banks about the source of the funds, claiming they were donations. He faces up to 80 years in prison if convicted.
YouTube influencer group Dude Perfect has secured a $100 million-plus investment from Highmount Capital as they aim to expand into a larger media company. The group, known for sports stunts and comedy, has grown from a YouTube channel started by five roommates at Texas A&M University to one of the platform's most popular channels with over 60 million subscribers. The investment will support their expansion into retail, live performances, and a planned theme park, reflecting the increasing influence and revenue potential of online content creators.
Donald Trump's media and technology group, DJT, has lost about 36% of its value since going public, dropping the former president’s stake to approximately $2.8bn. The stock has become one of the most actively shorted on the Nasdaq exchange, and the company generates minimal revenue and no profit. Trump is under a lockup agreement requiring him to wait until September to sell his shares, and the company and some of its executives are facing legal claims. Despite this, Trump maintains confidence in DJT's Truth Social platform, while the company's CEO, Devin Nunes, expressed optimism about its future.
Shares of Donald Trump's media and technology firm, Truth Social, fell 12% on Monday, extending a selloff that has reduced the value of his stake to $2.9 billion. The company's stock closed 8.4% lower at $37.17, down about 40% in April, following disclosures of significant losses and financial struggles. Trump, who owns about 78.75 million shares, has seen the valuation of his stake drop sharply from around $6 billion last month, potentially impacting his ability to raise funds for his 2024 presidential campaign and legal expenses. Short-sellers have made about $16 million in market-to-market profits from the decline, despite still being down 69% for the year.
Shares of Donald Trump's media and technology firm, Truth Social, fell 12% on Monday, extending a selloff that has reduced the value of his stake to $2.9 billion. The company's stock closed 8.4% lower at $37.17, down about 40% in April, following disclosures of significant losses and financial struggles. Trump, who owns about 78.75 million shares, has seen the valuation of his stake slide sharply from around $6 billion last month, potentially impacting his ability to raise funds for his 2024 presidential campaign and legal expenses. Short-sellers have welcomed the declines, making about $16 million in market-to-market profits, despite still being down 69% for the year.
Shares of Donald Trump's media and technology firm, Truth Social, fell 12% on Monday, extending a selloff that has reduced the value of his stake in the company to $2.9 billion. The company's stock closed 8.4% lower at $37.17, down about 40% so far in April, following the disclosure of millions of dollars in losses and financial struggles. Trump, who owns about 78.75 million shares, has seen a sharp slide in the valuation of his stake from around $6 billion last month, with the market value of the company now below that figure at about $5.55 billion. Short-sellers have made about $16 million in market-to-market profits, despite being down 69% for the year.
Donald Trump is set to be deposed later this month by lawyers for the co-founders of his social media company, Trump Media & Technology Group, as part of a dispute over ownership. The co-founders, Andy Litinsky and Wes Moss, are suing Trump Media for denying them their stake in the company. Trump Media, which owns the Truth Social messaging platform, was sued by Litinsky and Moss, who claim they were promised 8.6% of pre-merger Trump Media stock for helping to launch the company. Trump, who owned 90% of the social media company prior to its merger, is also facing four criminal cases and has pleaded not guilty to all charges.