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☆ Vice Media files for Chapter 11 bankruptcy protection
  + stars: | 2023-05-15 | by ( Hanna Ziady | ) edition.cnn.com   time to read: +1 min
London CNN —Vice Media filed for Chapter 11 bankruptcy protection Monday to facilitate a sale of the company, according to court documents and a statement from the struggling media group. The company, which publishes websites such as Vice, Motherboard, made the filing in the Southern District of New York. The sale process would allow other parties to submit “higher or better bids” for the company, it added. “This accelerated court-supervised sale process will strengthen the company and position Vice for long-term growth,” said co-chief executive officers Bruce Dixon and Hozefa Lokhandwala. News of the proposed sale comes weeks after the company announced a major restructuring, canceling its popular program “Vice News Tonight” and cutting dozens of jobs.
☆ Vice Media files for bankruptcy to enable sale to lenders including Soros and Fortress
  + stars: | 2023-05-15 | by ( Elliot Smith | ) www.cnbc.com   time to read: +2 min
Once a digital media darling, Vice Media Group on Monday filed for bankruptcy protection after years of financial troubles. Vice is one of several digital media and technology firms forced to restructure this year amid a sluggish economy and weak advertising market. To facilitate its sale, Vice filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Southern District of New York. The consortium's bid includes a commitment of $20 million in cash to enable Vice's operations to continue throughout the sale process. Vice Co-CEOs Bruce Dixon and Hozefa Lokhandwala said in a statement that the sale process will "strengthen the Company and position VICE for long-term growth."
☆ Vice Media files for Chapter 11 bankruptcy to facilitate sale
  + stars: | 2023-05-15 | by ( ) www.reuters.com   time to read: +2 min
May 15 (Reuters) - Vice Media Group, popular for websites such as Vice and Motherboard, filed for bankruptcy protection on Monday to engineer its sale to a group of lenders, capping years of financial difficulties and top-executive departures. The company listed both assets and liabilities in the range of $500 million to $1 billion, according to a court filing. Vice was among a group of fast-rising digital media ventures that once commanded rich valuations as they courted millennial audiences. It rose to prominence alongside its co-founder, Shane Smith, who built his media empire from a single Canadian magazine. In April, the company said it would cancel popular TV program "Vice News Tonight" as part of a broader restructuring that would result in job cuts across the digital media firm's global news business.
☆ Vice staffers fear salary and severance payments could be impacted as the company moves closer to bankruptcy
  + stars: | 2023-05-09 | by ( Claire Atkinson | ) www.businessinsider.com   time to read: +4 min
Vice is expected to file for bankruptcy, and some staffers fear salary or severance payments could be affected. The WGA East represents the Vice Union and said it will work to ensure members receive "everything owed." Vice has cut dozens of staff along with canceling its cable show "Vice News Tonight." Last month Vice said it was axing "Vice News Tonight," which once aired on HBO but shifted in 2019 to Vice's own cable channel, Vice TV. A second Vice insider said: "Hundreds of people lose their jobs and Shane gets his back?
☆ Victory Day analysis: Putin tried to project strength, but Moscow parade revealed only his isolation
  + stars: | 2023-05-09 | by ( Nathan Hodge | ) edition.cnn.com   time to read: +7 min
CNN —For Russian President Vladimir Putin, this year’s Victory Day parade in Red Square was a chance to continue his war on history. It has become a pawn to their cruel and selfish plans.”Despite the pomp of the parade, Putin cuts an increasingly isolated figure. In Russia, Putin and his regime have destroyed these values. A lone Soviet-era T-34 tank leads the procession in Moscow in contrast to the large array of military hardware on display on previous Victory Day parades. “Victory Day is the victory of our grandfathers,” he said.
☆ Stanley Druckenmiller says A.I. could win big coming out of a recession, and he's bullish on Nvidia
  + stars: | 2023-05-09 | by ( Yun Li | ) www.cnbc.com   time to read: +3 min
"It could be a beautiful opportunity in a hard landing just like '01, '02 ... a beautiful opportunity when the tech bubble bursts. NVDA YTD mountain Nvidia "My firm has only been able to participate in AI by owning Nvidia and Microsoft," Druckenmiller said. "It's not even clear to me if we had a really bad recession, that Nvidia would even come down." And now we have a big hike in interest rates." The Federal Reserve has hiked interest rates for 10 times since last year, taking the fed funds rate to a target range of 5%-5.25%, the highest since August 2007.
☆ Einride: 2023 CNBC Disruptor 50
  + stars: | 2023-05-09 | by ( Cnbc.Com Staff | ) www.cnbc.com   time to read: +2 min
Swedish startup Einride is among those looking to swap out the diesel engines that currently dominate the industry in favor of fleets of autonomous electric vehicles . Just as electric vehicles are gaining popularity among consumers, so too are they catching on in the commercial trucking realm. Before Tesla, Renault Trucks, owned by Volvo, and Daimler, also produced and delivered electric heavy-duty trucks. Only 0.1% of heavy-duty trucks sold in Europe were zero-emission in 2021, according to BloombergNEF estimates. Electric trucks are also facing competition from hydrogen-powered vehicles, which boast quick refueling and a longer driving range, unlike electric vehicles.
☆ Vice Media Nears Deal for $400 Million Sale Out of Bankruptcy
  + stars: | 2023-05-05 | by ( Alexander Saeedy | Jodi Xu Klein | ) www.wsj.com   time to read: 1 min
Vice Media is nearing a deal for senior lenders including Fortress Investment Group and Soros Fund Management to acquire the troubled media company out of bankruptcy at a valuation of around $400 million, according to people familiar with the matter. Nearly every Vice stockholder—including backers such as private-equity firm TPG Group, Sixth Street Partners and media mogul James Murdoch—would be wiped out under the proposed reorganization, the people familiar with the matter said. Outstanding debts held by TPG and Sixth Street would also be impaired as part of the plan, the people said. The Murdoch family is a major shareholder in Journal parent News Corp .
☆ ‘Ron DeSoros’? Conspiracy Theorists Target Trump’s Rival.
  + stars: | 2023-05-05 | by ( Stuart A. Thompson | ) www.nytimes.com   time to read: +1 min
To some, he is “Ron DeSoros,” a puppet of the Democratic megadonor George Soros. But he is finding that the conspiracy theories and outlandish attacks that Mr. Trump and his allies have aimed at rivals for years are coming for him as well. The attacks underscore the power that conspiracy theories continue to hold over Republican politics heading into the 2024 presidential election. To win the party’s nomination, Mr. DeSantis would probably need support from a Republican base that has produced many of the attacks against him. And while Mr. DeSantis enjoys broad support among Republicans, soaring to re-election victory just six months ago, the latest primary polls show Mr. Trump gaining a sizable lead.
☆ Meta shuts down network of fake accounts that ‘signal a shift’ in China-based influence efforts
  + stars: | 2023-05-03 | by ( Donie O'Sullivan Sean Lyngaas | Donie O'Sullivan | Sean Lyngaas | ) edition.cnn.com   time to read: +3 min
New York CNN —Facebook’s parent company Meta announced Wednesday that it has taken down a network of more than 100 China-based accounts that posed as organizations in the US and Europe and pushed pro-Beijing talking points. The network, which had more than 15,000 followers on Meta’s platforms, appears to have had some financial resources behind it. The fake accounts also posted “negative commentary about Uyghur activists and critics of the Chinese state,” it said. “We’re keeping a close eye” on the Chinese influence operations heading into the 2024 election, the official said. Ahead of the 2022 US midterm election, FBI officials expressed concern that Chinese operatives appeared to be engaging in “Russian-style influence activities” that stoke American divisions.
☆ Facebook was the main donor to a group that fought antitrust reforms in 2020 and 2021
  + stars: | 2023-05-01 | by ( Brian Schwartz Lauren Feiner | Brian Schwartz | Lauren Feiner | ) www.cnbc.com   time to read: +7 min
A person who works with the group, American Edge Project, told CNBC that the $34 million was from Facebook. A Meta spokesman declined to comment and referred CNBC to American Edge instead. The person who works with American Edge told CNBC that the $4 million was also entirely from Facebook. American Edge launched a wave of TV and digital ads from late 2020 through 2021, taking on antitrust proposals. American Edge spent over $5 million between TV and digital ads in 2021, according to data from AdImpact.
☆ Big money donors rally behind Biden as he launches his reelection bid
  + stars: | 2023-04-26 | by ( Brian Schwartz | ) www.cnbc.com   time to read: +7 min
Big donors in the business world started rallying around President Joe Biden soon after he announced Tuesday that he's running for reelection next year. A Biden campaign spokesperson didn't return a request for comment before publication. Katzenberg told CNBC in an exclusive interview Tuesday night that he believes the Biden campaign will raise more this time around than in 2020. Biden's campaign raised over $400 million from donors that gave under $200 during his last run for president, according to OpenSecrets. Venture capitalist Ron Conway has told friends he will help the president's campaign, according to a person close to him.
☆ Protesters stormed the stage and yelled 'Jews against DeSantis' while the Florida governor spoke at a GOP fundraising event
  + stars: | 2023-04-15 | by ( Hannah Getahun | ) www.businessinsider.com   time to read: +2 min
Two protesters ran up on stage during a GOP event while Governor Ron DeSantis was speaking. The protesters shouted "Jews against DeSantis" before they were carried off stage. In a video posted to Twitter, two people with signs reading "Ron DeSantis: Loves Israel, Hates Jews" briefly make it on stage before immediately being grabbed by security and escorted away from the governor. You got to have a little fun," DeSantis said, as the pair were directed away from the governor. A representative for DeSantis and the New Hampshire Republican Party did not immediately respond to Insider's request for comment.
☆ Opinion: Is Tucker Carlson the reason Texas Gov. Abbott says he’ll pardon a convicted killer?
  + stars: | 2023-04-10 | by ( Dean Obeidallah | ) edition.cnn.com   time to read: +7 min
Abbott’s pardon announcement came after he was goaded to do so by figures on the right – from Fox News host Tucker Carlson to the chairman of the Texas Republican Party to Kyle Rittenhouse. There are conflicting accounts as to whether Foster pointed his weapon at Perry or Perry made the first move. They are rioting outside my apartment complex.” Defense attorneys said that Foster had threatened Perry by pointing his gun at Perry. Then Carlson and others on the right began to pressure Abbott to issue a pardon, because they didn’t agree with the verdict. On his Fox News show on Friday night, Carlson called on Abbott to pardon Perry, arguing that the defendant had acted in self-defense – despite the jury rejecting that argument.
☆ The GOP risks blowing its 2024 chances by enlisting fringe pols and pushing issues normal voters don't care about
  + stars: | 2023-04-08 | by ( Madison Hall | ) www.businessinsider.com   time to read: +6 min
The New York Times reported Trump wanted to hire far-right xenophone Laura Loomer to his campaign. The potential hire shows how far the Republican Party has moved from the median voter. It's just another example of how out of touch the Republican Party has become with the average voter. The Republican Party has yet to win the popular vote in presidential elections since 2004. Should the party keep hiring oddballs and pursuing culture war issues while failing to address substantive issues affecting the country, it's unclear that will change.
☆ Hours from his own arraignment, Trump says Manhattan DA Alvin Bragg should 'INDICT HIMSELF'
  + stars: | 2023-04-04 | by ( Matthew Loh | ) www.businessinsider.com   time to read: +4 min
Donald Trump said on Monday evening that Alvin Bragg should "INDICT HIMSELF." District Attorney Bragg just illegally LEAKED the various points, and complete information, on the pathetic Indictment against me," Trump wrote on Monday. "Now, if he wants to really clean up his reputation, he will do the honorable thing and, as District Attorney, INDICT HIMSELF," added Trump. It is also unclear what information Trump was referring to when he wrote on Monday about "various points" and "complete information" being leaked. Representatives for Trump and the Manhattan district attorney's office did not immediately respond to Insider's requests for comment sent outside regular business hours.
☆ Donald Trump's NFT trading cards jumped in value to almost $1,700 after Manhattan indictment
  + stars: | 2023-04-01 | by ( Katie Balevic | ) www.businessinsider.com   time to read: +3 min
Trump's digital trading card NFTs soared in value to nearly $1,700 USD following his indictment. Trump is likely to surrender to the Manhattan DA's office on Tuesday, his attorney previously told Insider. According to Newsweek, the floor price of Trump's NFT trading cards was 0.41 Ethereum (ETH), or about $748 USD, on March 30 when Trump was indicted. Trump faces over 30 charges in the indictment, according to a CNN report. Trump attorney Joe Tacopina previously told Insider that Trump is likely to surrender to the Manhattan DA's office on Tuesday.
☆ Trump raised more than $4 million within 24 hours following grand jury indictment, his campaign says
  + stars: | 2023-04-01 | by ( Alia Shoaib | ) www.businessinsider.com   time to read: +2 min
Trump's campaign said it raised more than $4 million after he was indicted. It said that the influx of grassroots donations demonstrated the American people's support for Trump. "This incredible surge of grassroots contributions confirms that the American people see the indictment of President Trump as a disgraceful weaponization of our justice system by a Soros-funded prosecutor," the statement said. The campaign said the donations further solidified Trump's status as "the clear frontrunner in the Republican primary." Trump and his campaign have repeatedly lashed out at Manhattan District Attorney Alvin Bragg and tried to frame the indictment as a political attack.
☆ Rupert Murdoch’s media machine offers full-throated defense of Trump after grand jury indictment
  + stars: | 2023-03-31 | by ( Oliver Darcy | ) edition.cnn.com   time to read: +4 min
It came despite the relationship between Murdoch and Trump being on the rocks as of late. And yet, Murdoch allowed the incendiary pro-Trump rhetoric to grip his network on Thursday night. If there was any doubt that Fox News might not offer a full-throated defense of Trump today, given the disgraced Republican’s shaky relationship with Murdoch, that has been erased. Even if he’s not convicted, they figure the indictment and spectacle will help him become the Republican nominee. The outlet’s website prominently featured a story saying Bragg “has a bad case of bias,” among other Trump-friendly articles.
☆ DeSantis says Florida won't help extradite Trump even though it's required by US Constitution
  + stars: | 2023-03-31 | by ( Kimberly Leonard | Jacob Shamsian | ) www.businessinsider.com   time to read: +6 min
DeSantis pledged Florida wouldn't be involved in an extradition to New York, given that Trump lives in Palm Beach. Ron DeSantis of Florida pledged Thursday that state officials would not help extradite former President Donald Trump from Florida to New York in a charged political attack on the prosecutor, following the first-ever indictment of a former president. The Florida extradition statute describes two ways of extraditing people from Florida to another state where they face criminal charges. The governor's only role is making sure the demand meets all the legal requirements before ordering the extradition, legal experts told Insider. He could also delegate and let another member of the Florida executive branch sign off on Hochul's extradition demand.
☆ Donald Trump Jr. decries his father's indictment and says it's 'communist level shit' that would have made Mao and Stalin 'blush'
  + stars: | 2023-03-30 | by ( Lloyd Lee | ) www.businessinsider.com   time to read: +2 min
A Manhattan grand jury voted to indict Donald Trump on Thursday. Donald Trump Jr. interrupted his scheduled programming on Rumble to react to the news. Trump Jr. also incorrectly stated that the district attorney is indicting Trump. "Soros-backed Manhattan DA Alvin Bragg is actually indicting my father," Trump Jr. said on Rumble. "I found out about this about 15 minutes before I went live," Trump Jr. said.
☆ The Manhattan DA's office investigating Trump has been 'inundated' with hundreds of angry calls spewing racial slurs and parroting Trump's rhetoric
  + stars: | 2023-03-27 | by ( Natalie Musumeci | ) www.businessinsider.com   time to read: +5 min
The Manhattan attorney's office investigating Donald Trump has been "inundated" with calls from angry supporters. The callers have been parroting Trump's rhetoric and hurling racial slurs against DA Alvin Bragg. In recent days, the Manhattan DA's office has been the victim of several death threats. In a since-deleted post, Trump also shared a photo of himself holding a baseball bat, ready to swing, next to Bragg. "I'm not his social media consultant," Trump lawyer Joe Tacopina told NBC's Chuck Todd on "Meet the Press" on Sunday.
☆ Trump's own attorney says the former president's TruthSocial posts attacking Manhattan prosecutor ahead of possible indictment were 'ill-advised'
  + stars: | 2023-03-26 | by ( Katie Balevic | ) www.businessinsider.com   time to read: +3 min
Trump attorney Joe Tacopina said Trump's Truth Social posts targeting the Manhattan DA were "ill-advised." "I'm not his social media consultant," Attorney Joe Tacopina told NBC's Chuck Todd on "Meet the Press" on Sunday. "I think that was an ill-advised post that one of his social media people put up, and he quickly took down when he realized the rhetoric and photo that was attached to it." Todd pointed out that Tacopina was "only referring to the baseball bat" as Trump's comments about "death & destruction" remained visible on his Truth Social page. In one Truth Social post, Trump said Bragg is "CARRYING OUT THE PLANS OF THE RADICAL LEFT LUNATICS.
☆ New York Post and New York Daily News torch Trump for threats against Bragg in rare moment of agreement
  + stars: | 2023-03-25 | by ( Katie Balevic | ) www.businessinsider.com   time to read: +3 min
Both New York tabloids on Saturday called out Trump's violent rhetoric toward Alvin Bragg. But both the liberal-leaning New York Daily News and conservative-leaning New York Post shared a rare moment of consensus on Saturday when they both condemned the threats of violence made by Donald Trump in response to news that Manhattan District Attorney Alvin Bragg could soon indict the former president. Similarly, The New York Daily News called Trump "THE DANGEROUS DON," adding that New York politicians slammed "Trump's 'racist bile.'" In one post he referred to Bragg as a George "Soros-backed animal," prompting New York politicians to condemn him for racism and anti-Semitism, according to the Daily News. The New York Post, which was once a reliable Trump stalwart, has recently turned its back on the former president.
☆ Staring down a possible indictment, Trump holds a rally in Waco. A Texas newspaper said the choice isn't a dog whistle but an 'air horn' to far-right groups.
  + stars: | 2023-03-25 | by ( Sarah Al-Arshani | ) www.businessinsider.com   time to read: +4 min
Thirty years ago, federal agents seized the Branch Davidians in Waco, Texas. Trump's scheduled rally in Waco falls in the middle of the anniversary of the months-long standoff. The New York Times reported that Trump's visit to Waco falls on the 30-year anniversary of the Branch Davidian siege. Although no indictment has been announced, Trump has continued to rally his supporters and make allusions to violence. Trump supporters like Reps. Marjorie Taylor Greene of Georgia and Matt Gaetz of Florida as well as conservative pundits like Dan Bongino have spoken out in support of Trump.
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