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Global IR firm MZ Group is handling news that Trump Media & Technology Group and Digital World Acquisition Corp. have lined up $1B in PIPE (public investing in public equity) financial commitments from unidentified investors upon comsummation of their SPAC deal.
“One billion sends an important message to Big Tech that censorship and political discrimination must end,” Donald Trump, chairman of TMTG, said in their Dec. 4 release.
Trump added that once TMTG’s strengthens its balance sheet, it “will be in stronger position to fight back against the tyranny of Big Tech.”
DWAC on Dec. 6 disclosed in a Securities and Exchange Commission that US regulators are investigating the SPAC deal with Trump.
FINRA, the broker deal watchdog, has requested information about trading that was made ahead of the Oct. 20 SPAC announcement. “The inquiry should not be construed as an indication that FINRA has determined that any violations of Nasdaq rules or federal securities laws have occurred, nor as a reflection upon the merits of the securities involved or upon any person who effected transactions in such securities,” DWAC said.
The SEC in early November asked DWAC for “documents relating to meetings of DWAC’s board of directors, policies and procedures relating to trading, the identification of banking, telephone, and email addresses, the identities of certain investors, and certain documents and communications between DWAC and TMTG.”
That investigation “does not mean that the SEC has concluded that anyone violated the law or that the SEC has a negative opinion of DWAC or any person, event, or security,” explained DWAC.
TMTG announced Dec. 6 that California Republican Congressman Devin Nunes, an ardent support of the former president when he chaired the House Intelligence Committee, will become CEO in January.
Sao Paulo-based MZ has more than 200 staffers in Chicago, New York, San Diego, and Taiwan.
WNET, the nation’s largest public media company, names Edward O’Keefe its next president and CEO, effective September 21. O’Keefe succeeds Neal Shapiro, who becomes president emeritus and will retire at the end of the year... The Stealth Bot Prohibition Act, which would empower news publishers and other content providers to defend themselves by mandating transparency for all bots crawling their sites, in introduced in the House by Rep. Laurel Lee (R-FL) and Rep. Valerie Foushee (D-NC)... Google gets socked by European Union regulators with a $1 billion fine for using the platform’s dominance as a search engine to illegally undercut competition.
Boston Globe Media acquires InstaTrac, a company that provides subscription-based services aimed at making government information easier to find, track, and understand... AARP names former New Republic CEO and publisher Michael Caruso as its SVP and chief content officer, unifying the organization's portfolio of media, live events and digital platforms... The Fund for American Studies, an educational nonprofit, awards its inaugural Journalism Excellence Fellowships.
Trump Media and Technology Group Corp. has replaced CEO and former California Congressman Devin Nunes with Kevin McGurn, a seasoned media sales executive.
The Pittsburgh Post-Gazette is being bought by the Venetoulis Institute for Local Journalism, a nonprofit that is the parent organization of the Baltimore Banner... The British Broadcasting Corporation is axing approximately 2,000 jobs, about 10 percent of its work force... Snap, the company behind Snapchat, is also succumbing to layoff fever, announcing plans to lay off 16 percent of its employees, about 1,000 people.
CBS News Radio will go off the air on May 22, part of the axe-swinging managerial plan put into play by CBS editor-in-chief Bari Weiss... The Economist, which was first published in 1843, is changing hands. Canadian billionaire Stephen Smith has agreed to acquire a 26.9 percent stake in the publication from Lady Lynn Forester de Rothschild, her family and family foundation... Nexstar Media Group says it has closed its acquisition of TEGNA, the broadcast, digital media and marketing services company that was formed in 2015, when the Gannett Company split into two publicly traded companies.
