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Digital World Acquisition Corp., the blank check company that plans to take Donald Trump's social media platform public, said today that each of its directors had received subpoenas from federal prosecutors at the Southern District of New York related to the deal.
The Securities and Exchange Commission on June 13 issued subpoenas requesting documents and information regarding DWA's due diligence regarding Trump Media & Technology Group and other information covering communications related to the merger.
The Justice Dept and SEC subpoenas "could materially delay, materially impede or prevent the consummation of the business combination," according to DWAC's Form 8-K filing.
DWAC also revealed that board member Bruce Garelick, chief strategy officer of Rocket One Capital, resigned effective June 22.
The federal grand jury has requested information from DWAC about its communications with Rocket One, an investment firm based in Miami.
TMTG issued its own statement: "We encourage and will cooperate with oversight that supports the SEC's important mission of protecting retail investors."
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Buzzfeed VP, communications Matt Mittenthal moves to The Guardian US, where he will serve as head of communications.
Rupert Murdoch, 92, is stepping down as chairman of Fox Corp and News Corp., effective at the November annual meeting of each company. He will take on the chairman emeritus post at both companies.
Warner Bros. Discovery has appointed Mark Thompson, former director-general of the BBC and CEO of the New York Times Co., chairman/CEO of CNN Worldwide, effective Oct. 9.
Olivia Petersen, head of communications at Morning Consult, will join the Washington Post next month as VP-PR.
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Jun. 27, 2022, by Joe Honick
One thing at a time, this time Trump's media deal. He is certainly entitled to have such a thing, but the very legitimate question is who is paying the bills and how much. Given his already questionable fiscal status and the methods used to grift dough from little folks that goes confusingly defined, and the fact this outfit is a public deal, plus his insistent political farce, the little and the biggies in the Republican Party would no doubt like to know the answers.