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| Michael Bloomberg |
Michael Bloomberg’s campaign says that if Bloomberg is elected president, he plans to sell Bloomberg LP as well as releasing his tax returns. In an interview with CNN’s Christiane Amanpour, campaign adviser Tim O’Brien said: "there will be no confusion about any of his financial holdings blurring the line between public service and personal profiteering." Bloomberg has come under fire from several of his competitors in the campaign over his finances, with much of the controversy stemming from the estimated $400 million Bloomberg has spent on advertising. According to the Financial Times, Bloomberg owns 88 percent of the financial data company he founded in 1981. With around 325,000 subscribers paying $24,000 a year for its services, the company raked in about $10.5 billion in revenue last year, up 5.7 percent over the previous year, the FT reported.
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| Andrew Yang |
Andrew Yang has signed on as a political commentator for CNN following his exit from the race for the Democratic presidential nomination after his poor showing in the New Hampshire primary. Yang’s first appearance on the network will be during the Feb. 19 debate in Las Vegas. “Will be on @CNN tonight to talk about the debate!” Yang said in a Tweet. “Maybe I’ll wear a tie.” Most of the attention that his campaign received stemmed from what was known as the Freedom Dividend, a guaranteed $1,000 per month universal basic income.
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While American Media’s sale of The National Enquirer to Hudson News chief executive Jimmy Cohen, remains on hold, the company has unloaded its stable of fitness-related magazines, according to a report in the New York Post. Those titles include Muscle & Fitness, Flex and Muscle & Fitness Hers—all of which will transition to digital-only publications. The deal also entails the company’s bodybuilding trade show business. The buyer is Jake Wood, owner of the women’s bodybuilding show Wings of Strength. A source close to the sale told the Post that the price tag for the deal was approximately $70 million.
Trump Media & Technology Group today reported a $58.2M net loss on $4.1M in 2023 revenues, a disclosure that drove its stock price down 22.6 percent to $47.96.
Barry Pollack, an attorney at Wall Street’s Harris St. Laurent & Wechsler, has registered Julian Assange as a client with the Justice Dept. “out of an abundance of caution.”
Paramount Global to slash 800 jobs in what chief executive Bob Bakish calls part of an effort to “return the company to earnings growth"... Rolling Stone editor-in-chief Noah Shachtman is exiting at the end of the month due to disagreements with chief executive Gus Wenner over the direction the magazine is taking... The New York Times broke the $1 billion barrier in annual revenue from digital subscriptions in 2023... Press Forward is investing more than $500 million to strengthen local newsrooms.
The majority of news articles are read within the first three days of publication, according to a recent report.
The Los Angeles Times gives pink slips to 115 people or 20 percent of its newsroom staff... TIME is also laying off about 30 employees, which is approximately 15 percent of its editorial staff... The Baltimore Banner, which was launched by Stewart Bainum in 2022 after he failed to buy the Baltimore Sun, added 500 subscribers per day in the three days following Sinclair Broadcast Group's deal to purchase the Sun.
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