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☆ Meta has threatened to pull all news from Facebook in the US if an 'ill-considered' bill that would compel it to pay publishers passes
▼ + stars: | 2022-12-06 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Meta threatened to pull news from its US platform over a media bill, in a statement on Monday. The media bill will require Facebook and other platforms to pay publishers to distribute news. Meta previously cut all access to news in Australia after a similar bill was passed in the country. The statement read that if Congress passes the "ill-considered journalism bill," Meta "will be forced to consider removing news from our platform altogether." Meta eventually reversed the ban after the bill was amended, and struck a deal with Rupert Murdoch's News Corp to pay the media firm to distribute its content across Facebook.

☆ Fox News ends Lara Trump's employment following father-in-law Donald Trump's 2024 announcement
▼ + stars: | 2022-12-04 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +2 min

Lara Trump, Eric Trump's wife, will no longer be a paid contributor for Fox News, per the Los Angeles Times. The decision was made after former President Donald Trump announced his 2024 presidential bid. In a statement provided to Insider, a Fox News spokesperson said: "We appreciate Lara's valuable contributions across FOX News Media programming." The network decided that Lara Trump is directly connected to her father-in-law's campaign, the Los Angeles Times said. There is a precedent for such decisions; Sarah Huckabee Sanders had her paid contributor deal terminated when she announced she was running for governor of Arkansas.

☆ Newsmax CEO reveals how he's challenging Fox News for right-leaning viewers, why his network won't endorse candidates, and why his friend Trump shouldn't run in 2024
▼ + stars: | 2022-12-04 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +12 min

Newsmax CEO Chris Ruddy says it challenges Fox News for conservative viewers but also wants Democrats. Ruddy said Donald Trump shouldn't run in 2024 because "he's a guy that doesn't need the presidency." Here's why a media CEO who considers Donald Trump a good friend doesn't think his good friend should run for president again. Let's talk about the Arizona call[during the 2020 election]: Fox News called that election within 20 minutes. I would prefer Trump not run because I don't think it's good for him personally.

☆ Lachlan Murdoch biographer breaks down his relationship with father Rupert Murdoch and why a merger of Fox and News Corp is about 'entrenching Lachlan's control'
▼ + stars: | 2022-11-30 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +10 min

A new unauthorized biography of Lachlan Murdoch explores his business profile and family relationships. Its author, Paddy Manning, speculates about who might exit if Rupert Murdoch's Fox Corp and News Corp recombine. Rupert Murdoch remains executive chairman of News Corp and chairman of Fox. Lachlan Murdoch was named Fox's CEO, and James Murdoch, after four years as CEO of 21st Century Fox, was left to carve his own path. If you're looking longer-term about who's going to run the company beyond the merger, if it happens, [News Corp CEO] Robert Thomson is probably retiring.

☆ Ron DeSantis just announced he has a memoir coming out soon. Here's what we learned from his first book, a scathing take on Obama
▼ + stars: | 2022-11-30 | by ( Kimberly Leonard | ) www.businessinsider.com time to read: +13 min

DeSantis wrote the book during the Tea Party movement and before he ran for Congress. He did so throughout his 2011 book, "Dreams from Our Founding Fathers: First Principles in the Age of Obama." According to NPD BookScan, which tracks retail sales of US print books, "Dreams from Our Founding Fathers" sold 125 copies through July of 2022. In one section of the book, DeSantis wrote that Obama lacked the humility of George Washington, the first US president. Obama, DeSantis wrote, "garnered flattering media coverage by a press thoroughly enamored with his progressive politics."

☆ Stocks making the biggest moves in the premarket: Apple, Taboola, Biogen and more
▼ + stars: | 2022-11-28 | by ( Peter Schacknow | ) www.cnbc.com time to read: +2 min

A person familiar with assembly operations told Bloomberg that Apple and Foxconn do expect to be able to make up that shortfall in 2023. Apple slid 1.7% in premarket trading. Wynn Resorts (WYNN), MGM Resorts (MGM), Melco Resorts (MLCO), Las Vegas Sands (LVS) – Casino stocks rallied in off-hours trading after the Chinese government granted the companies provisional licenses to continue operating in Macau. Exxon Mobil (XOM), Chevron (CVX) – These and other energy stocks fell in the premarket as WTI Crude touches its lowest level in 11 months. First Solar (FSLR) – The solar company's stock fell 2.6% in the premarket following a downgrade by J.P. Morgan to "neutral" from "overweight."

☆ News Corp shareholder T Rowe Price raises concerns over Fox merger - NYT
▼ + stars: | 2022-11-26 | by ( ) www.reuters.com time to read: +2 min

Nov 25 (Reuters) - T. Rowe Price (TROW.O), a major shareholder in News Corp (NWSA.O), said it had strong reservations about Rupert Murdoch's plan to reunite News Corp and Fox Corp (FOXA.O), The New York Times reported on Friday, joining other investors in dissent over the plan. T. Rowe Price told the newspaper that a merger of the two companies would probably undervalue News Corp, which it believes is trading for less than it is worth. T. Rowe Price owns about 17.88% of News Corp, according to Refinitiv data, and is the largest shareholder after the Murdoch family. Fox and News Corp declined to comment, while T. Rowe Price did not immediately respond to Reuters requests for comment. Independent Franchise Partners owns about 7% of News Corp's Class A shares and 6.4% in Fox Corp.

☆ Lachlan Murdoch biographer breaks down his relationship with dad Rupert and why his siblings want to change 'destructive' Fox News
▼ + stars: | 2022-11-10 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +9 min

A new unauthorized biography of Lachlan Murdoch explores his business profile and family relationships. Its author, Paddy Manning, speculates about who might exit if Rupert Murdoch's Fox Corp and News Corp recombine. Lachlan Murdoch was named Fox's CEO, and James Murdoch, after four years as CEO of 21st Century Fox, was left to carve his own path. Why did you want to write a book about Lachlan Murdoch? Did you talk to Lachlan Murdoch?

A dispute arose over the price Fox would pay for a stake in the market-leading FanDuel app, leading to arbitration that began in the spring of 2021. The sports betting app Fox Bet is available in four states, with just 0.2% share of the U.S. market, according to researcher Vixio. A free version called Fox Bet Super 6 has attracted some 6 million users whom Fox hopes to eventually convert to betters. The growth of Fox Bet has stagnated since Flutter acquired Stars Group, the company that helped launch Fox Bet and owns and operates the app. Fox claimed that Flutter failed to provide reasonable resources behind Fox Bet, a claim Flutter said the arbitrator rejected, finding that Flutter had agreed to commit "commercially reasonable" resources behind the offering.

PARIS/STOCKHOLM, Nov 4 (Reuters) - Telecom operators are pushing the European Union to implement new laws that would make Big Tech pay for network costs, following Australia's example, according to four sources close to the matter. "GSMA is coordinating a proposal that speaks to Big Tech contribution to European infrastructure investment," said John Giusti, GSMA's chief regulatory officer, without elaborating on the content of the proposal. Google, Facebook, Netflix, Amazon did not immediately respond to requests for comment. Australia's recently-adopted laws in its own spat with Google and Facebook have emerged as the most-favoured weapon for telecoms operators in their dispute with Big Tech companies, the sources said. The rules, first aimed at compelling tech giants to pay for news content online, allow an Australian government-appointed arbitrator to set fees if Big Tech companies and news publishers fail to find a common ground over copyright.

☆ Britain's new PM is almost a billionaire — with a net worth twice that of King Charles
▼ + stars: | 2022-10-28 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +3 min

Rishi Sunak and his wife Akshata Murty have an estimated combined wealth of £730 million ($800 million). Dan Kitwood | Getty Images News | Getty ImagesLONDON — Britain's new Prime Minister Rishi Sunak made history as the country's first leader of color and its youngest in recent centuries, taking office aged just 42. He also breaks the record for being the wealthiest-ever occupant of Downing Street — with a fortune estimated to exceed that of King Charles III. A net worth of $844 millionTogether, the couple has an estimated fortune of £730 million ($844 million), according to the Sunday Times Rich List. King Charles III welcomes Rishi Sunak during an audience at Buckingham Palace, London, where he invited the newly elected leader of the Conservative Party to become Prime Minister and form a new government.

☆ Investor Irenic Capital wants News Corp to split media, real estate units - sources
▼ + stars: | 2022-10-17 | by ( ) www.reuters.com time to read: +1 min

Oct 17 (Reuters) - Activist investor Irenic Capital Management, which has a $150 million stake in News Corp (NWSA.O), wants the company to split its media and online real estate units, sources familiar with the matter said on Monday. Irenic's push comes after media mogul Rupert Murdoch's proposal last week to reunite his media empire by combining News Corp (NWSA.O) and Fox Corp (FOXA.O), nearly a decade after the companies split. Irenic has sought a meeting with panel from News Corp, sources said, adding the investor would be prepared to oppose a deal if it undervalues the company. Register now for FREE unlimited access to Reuters.com RegisterNews Corp did not immediately respond to a request for comment. It is anchored by REA Group, in which News Corp has a 61.4% stake, which is worth about $5.8 billion.

☆ News Corp. stock up, Fox shares down as investors weigh possible merger
▼ + stars: | 2022-10-17 | by ( Jack Stebbins | ) www.cnbc.com time to read: +2 min

Shares of News Corp. rose while Fox shares fell Monday as investors weighed the possibility of Rupert Murdoch's media companies recombining nearly decade after they split. The companies had announced Friday that they were exploring a merger, with each News Corp. and Fox saying they formed special committees to explore the possibility. News Corp. has a market capitalization of around $9.45 billion, while Fox Corp. is worth about $14.76 billion. Alphabet has a market cap of $1.32 trillion, Apple's market cap is $2.29 trillion and Amazon's market cap is $1.15 trillion. The source said Irenic would oppose the combination of News Corp. with Fox if the real estate arm remained undervalued.

☆ Stocks making the biggest moves premarket: Continental Resources, Bank of America, Apple and others
▼ + stars: | 2022-10-17 | by ( Peter Schacknow | ) www.cnbc.com time to read: +2 min

Bank of America (BAC) – Bank of America jumped 3.1% in premarket trading after beating top and bottom line estimates in its third-quarter earnings report. News Corp. (NWSA), Fox Corp. (FOXA) – News Corp. gained 3.5% in the premarket while Fox Corp. slid 4.1%. Meta Platforms (META) – Meta is falling short of its goals for its flagship metaverse product "Horizon Worlds", according to internal documents seen by the Wall Street Journal. Goldman added 1% in premarket trading. Archaea Energy (LFG) – The natural gas producer's shares soared 51.1% in premarket trading after agreeing to be acquired by BP (BP) for $26 per share.

After being the longest-serving health secretary in British history and stints running the foreign office and culture ministry, Hunt returns from government exile after two failed bids to become Britain's prime minister himself. "The appointment of Jeremy Hunt as Chancellor is a wise choice," Conservative lawmaker Bernard Jenkin said on Twitter. Ironically, though, while Truss has said she will press ahead with a cut to income tax, Hunt said at the time that could wait. Other critics said some of the problems that the state-run health service faced were a consequence of his role as health minister. During a trip to China in July in 2018, he mistakenly described his wife Lucia, who hails from China, as being Japanese.

☆ Fox News owner Rupert Murdoch shared his succession plans for his media empire with Donald Trump, book says
▼ + stars: | 2022-09-29 | by ( Tom Porter | ) www.businessinsider.com time to read: +2 min

Fox News owner Rupert Murdoch attended a 2017 meeting with Donald Trump, a new book says. At the meeting, Murdoch shared his succession plans, says the book by Maggie Haberman. CNN's "Reliable Sources" newsletter on Wednesday published extracts from "Confidence Man," New York Times reporter Maggie Haberman's new book about Donald Trump. "'It's going to become too liberal when James [Murdoch] takes over,'" Trump reportedly told Murdoch, referring to the media magnate's son, who was widely expected to take over from his father. Donald Trump with Rupert Murdoch at one of his golf courses near Aberdeen, Scotland in 2016.

☆ Ivanka Trump and Jared Kushner knew the 2020 election wasn't stolen and began to distance themselves before the results were even called, a new book says
▼ + stars: | 2022-09-28 | by ( Peter Baker | Susan Glasser | ) www.businessinsider.com time to read: +17 min

In their new book, journalists, Peter Baker and Susan Glasser go behind the scenes of the Trump White House. As the 2020 election results came in, Jared Kushner and Ivanka Trump had already moved on, the book says. They had their own future to think about, one that would no longer involve the White House. While still in the White House, he began writing a memoir focused on Middle East peacemaking. "We either have a vote WE control and WEwin OR it gets kicked to Congress 6 January 2021," Don Jr. wrote.

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