Kushner and Kloss take over Life magazine Life, the iconic photography-focused chronicler of the 20th century, has taken on many forms, including a weekly magazine, a website and the occasional special issue. Now, it is set to resume regular print publication, thanks to a deal between Barry Diller’s IAC and Josh Kushner, the venture capitalist […]
Read MoreTag: Mergers, Acquisitions and Divestitures
Many People and Companies Have Made Millions on Trump Media’s Stock
Shares of former President Donald J. Trump’s social media company continued to surge on Wednesday, extending the gains on its first official trading session on the Nasdaq the day before. After another double-digit percentage gain, the parent of Truth Social approached $9 billion in market value, a windfall for insiders awarded shares in the company. […]
Read MoreWhat to Know About Trump’s High-Flying Stock Debut
On its first day on the Nasdaq stock exchange on Tuesday, Trump Media & Technology Group became such a high-flying stock that trading in its shares, under the ticker DJT, had to be briefly halted because of extreme volatility. The huge public debut for the company is especially important for its biggest shareholder, former President […]
Read MoreTrump’s Media Company Gets Lofty Valuation on First Trading Day
There’s a new high-flying stock on Wall Street that some investors are eagerly piling into. Its largest shareholder is former President Donald J. Trump. His social media company, Trump Media & Technology Group, began trading on the Nasdaq on Tuesday, under the ticker DJT, and immediately surged in value, gaining 40 percent in early trading. […]
Read MoreLofty Valuation Carries Trump’s Social Media Company Into First Trading Day
There’s a new high-flying stock on Wall Street that some investors are eagerly piling into. Its largest shareholder is former President Donald J. Trump. His social media company, Trump Media & Technology Group, will start trading on the Nasdaq on Tuesday, under the ticker DJT. Trump Media — the parent of Truth Social, the online […]
Read MoreTrump’s Multibillion-Dollar Social Media Company Will Start Trading on Tuesday
Former President Donald J. Trump’s social media company officially became a public company on Monday morning, and in the process the former president’s net worth has jumped by billions of dollars. A lawyer for Trump Media & Technology Group filed papers on Monday with the Delaware Division of Corporations, which said the company’s merger with […]
Read MoreThis Is the Best Way for Joe Biden to Talk About the Economy
Since the early 2000s, most Americans have generally been dissatisfied with the economy and many are insecure about their place in it. The dissatisfaction peaked during the Great Recession of 2007 to 2009 but persists, even as the economy is growing and unemployment and inflation combined are roughly where they were during the relatively upbeat […]
Read MoreBig Republican Donor Jeff Yass Owned Shares in Trump Media Merger Partner
Jeff Yass, the billionaire Wall Street financier and Republican megadonor who is a major investor in the parent company of TikTok, was also the biggest institutional shareholder of the shell company that recently merged with former President Donald J. Trump’s social media company. A December regulatory filing showed that Mr. Yass’s trading firm, Susquehanna International […]
Read MoreTrump Media Merger Is Approved, Providing Fresh Source of Cash
Former President Donald J. Trump’s social media company on Friday completed a merger with a cash-rich shell company, raising Mr. Trump’s wealth by billions and potentially providing him a fresh source of cash to pay his mounting legal bills. In approving the merger, shareholders of Digital World Acquisition Corporation will become shareholders of Trump Media […]
Read MoreMerger of Trump’s Social Media Firm Could Provide Him Needed Cash
Shares of former President Donald J. Trump’s social media company could start trading on the stock market as early as Monday, immediately raising his net worth by around $3 billion — wealth that Mr. Trump may be able to tap to pay his mounting legal bills as he seeks a second presidential term. Mr. Trump […]
Read MoreUnilever to Spin Off Ben & Jerry’s and Cut 7,500 Jobs
Unilever, the consumer goods giant, said on Tuesday that it would cut 7,500 jobs and spin off its ice cream unit, which includes Ben & Jerry’s, to reduce costs and simplify its portfolio of brands. The moves would make for “a simpler, more focused and higher performing Unilever,” Ian Meakins, the London-based company’s chair, said […]
Read MoreWhen Private Equity Came for the Music Industry
Does that song on your phone or on the radio or in the movie theater sound familiar? Private equity — the industry responsible for bankrupting companies, slashing jobs and raising the mortality rates at the nursing homes it acquires — is making money by gobbling up the rights for old hits and pumping them back […]
Read MoreAmericans Invested Billions in Chinese Companies. Now Their Money Is Stuck.
When investors talk about “zombie” companies, they’re usually referring to distressed start-ups that are hobbling along, unable to grow and unlikely to ever return the money they’ve raised. But as deal makers feverishly debated efforts this week by lawmakers to force TikTok’s Chinese parent company, ByteDance, to sell the app, they talked about a new […]
Read MoreTikTok Bill’s Progress Slows in the Senate
After a bill that would force TikTok’s Chinese parent company to sell the app or face a nationwide ban sailed through the House at breakneck speed this week, its progress has slowed in the Senate. Senator Chuck Schumer of New York, the Democratic leader who determines what legislation gets a vote, has not decided whether […]
Read MoreWhat China Is Saying About the TikTok Furor in Washington
This is not the first time that China has seen a frenzy over TikTok consume Washington. In 2020, former President Donald J. Trump issued an executive order that would have forced TikTok’s Chinese owners to sell the popular app. But Beijing foiled a takeover bid by American buyers by slapping curbs on technology exports. Last […]
Read MoreYoung Entrepreneurs Find a Way to Indulge Their C.E.O. Dreams
Edward Silva grew up wanting to be a chief executive. In 2018, Mr. Silva enrolled at the Stanford Graduate School of Business with the goal of starting his own company. “I was going to live the Stanford dream,” he said. “I was going to find an engineer — we were going to find a venture […]
Read MoreGerald M. Levin, Time Warner Chief in a Merger Debacle, Dies at 84
Gerald M. Levin, a “visionary” media executive, as he was often described, who became C.E.O. of the world’s largest media company, Time Warner, and an architect of its merger with America Online, widely considered the worst corporate marriage in American history, died on Wednesday. He was 84. Jake Maia Arlow, a grandchild of Mr. Levin’s, […]
Read MoreTikTok’s Security Threats Go Beyond the Scope of House Legislation
In a capital where Republicans and Democrats agree on virtually nothing, it was notable when the House overwhelmingly declared on Wednesday that TikTok poses such a grave risk to national security that it must be forced to sell its U.S. operations to a non-Chinese owner. But that glosses over the deeper TikTok security problem, which […]
Read MoreHouse Passes Bill to Force TikTok Sale From Chinese Owner or Ban the App
The House on Wednesday passed a bill with broad bipartisan support that would force TikTok’s Chinese owner to sell the hugely popular video app or be banned in the United States. The move escalates a showdown between Beijing and Washington over the control of technologies that could affect national security, free speech and the social […]
Read MoreChina Condemns U.S. Proposal to Force the Sale of TikTok
China on Wednesday condemned U.S. lawmakers’ push to force the Chinese parent company of TikTok to sell the popular short video platform. In Washington, House lawmakers were expected to vote on a bill later in the day that would require the Chinese internet company ByteDance to cut ties with TikTok or face a nationwide ban. […]
Read MoreWhat to Know About the TikTok Ban Legislation
House lawmakers are expected to vote starting at around 10 a.m. on Wednesday on legislation meant to force ByteDance, the Chinese internet company, to sell its wildly popular social media app TikTok. The vote would be the latest development in a yearslong cold war between the United States and China over who controls valuable technology […]
Read MoreIn Silicon Valley, Venture Capital Meets a Generational Shift
Reid Hoffman, a founder of LinkedIn and a longtime venture capitalist, is no longer the public face of the venture firm Greylock. Michael Moritz, a force at Sequoia Capital for 38 years, officially separated from the investment firm last summer. And Jeff Jordan, a top investor at Andreessen Horowitz for 12 years, left in May. […]
Read MoreThe Billionaires’ Secret Plan to Solve California’s Housing Crisis
Fact-checking by Susan Lee. The Daily is made by Rachel Quester, Lynsea Garrison, Clare Toeniskoetter, Paige Cowett, Michael Simon Johnson, Brad Fisher, Chris Wood, Jessica Cheung, Stella Tan, Alexandra Leigh Young, Lisa Chow, Eric Krupke, Marc Georges, Luke Vander Ploeg, M.J. Davis Lin, Dan Powell, Sydney Harper, Mike Benoist, Liz O. Baylen, Asthaa Chaturvedi, Rachelle […]
Read MorePotential Obstacle to Trump Media’s Merger Appears to Have Been Cleared
The threat of a last-minute obstacle to the merger of former President Donald J. Trump’s social media company and a cash-rich shell company appears to have subsided. Two early founders of Trump Media & Technology Group reached a temporary truce with Mr. Trump’s company at a hearing on Saturday morning in Delaware Court of Chancery. […]
Read MoreFormer Twitter Executives Sue Elon Musk for $128 Million
Four former Twitter executives sued Elon Musk on Monday, accusing the billionaire of withholding severance payments worth $128 million after he fired them from the company during his 2022 takeover. When Mr. Musk bought Twitter for $44 billion, he fired Parag Agrawal, its chief executive; Ned Segal, its chief financial officer; Vijaya Gadde, its head […]
Read MoreJetBlue and Spirit Call Off Their Merger
JetBlue Airways and Spirit Airlines announced on Monday that they would walk away from their planned $3.8 billion merger after federal antitrust regulators successfully challenged the deal in court. JetBlue said it would pay Spirit $69 million to exit the deal. A federal judge in Boston blocked the proposed merger on Jan. 16, siding with […]
Read MoreForced to Change: Tech Giants Bow to Global Onslaught of Rules
By Thursday, Google will have changed how it displays certain search results. Microsoft will no longer force Windows customers to use its Bing internet search tool. And Apple will give iPhone and iPad users access to rival app stores and payment systems for the first time. The tech giants have been preparing ahead of a […]
Read MoreCapital One Said to Be in Talks to Acquire Discover
The lender Capital One is in talks to acquire Discover Financial Services, two people with knowledge of the negotiations said, in a deal that would combine two of the largest credit card companies in the United States. The deal, which is not yet final, could be announced as soon as this week, said the people, […]
Read MoreThe Roots of New York Community Bank’s Troubles
During last spring’s banking crisis, when a competing lender went under, New York Community Bank pounced, acquiring a big chunk of its business. Now, it is paying dearly for that decision. The pain stems largely from a weakening commercial real estate market that impelled NYCB — which operates more than 400 branches under brands including […]
Read MoreAfter Figma’s $20 Billion Windfall Evaporated, It’s Picking Up the Pieces
On Dec. 18, a $20 billion deal by Adobe, the software giant, to buy Figma, a San Francisco start-up darling, fell apart after more than a year of regulatory scrutiny. In a blog post that day, Dylan Field, Figma’s chief executive and co-founder, painted an optimistic picture of what would come next. “Figma’s best, most […]
Read MoreAdam Neumann Wants to Take Over WeWork
WeWork’s founder is trying to buy it Adam Neumann shot to fame by turning WeWork into a cultural and business phenomenon, before being ousted from the work space operator in dramatic fashion. But for the past several months, he has been trying to buy the now-bankrupt business — with the help of the hedge fund […]
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