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Meghan and Harry spark anger, soul-searching in UK media – Delta-Optimist

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LONDON — Britain’s royal family is smarting from its depiction in Meghan and Harry’s explosive TV interview as aloof, uncaring and tinged with racism. But the couple identified an even bigger villain: the British media, which they accused of racist bullying and personal attacks.

Many in the media argue that although some tabloids occasionally go too far, journalists play a vital role holding Britain’s taxpayer-funded royal family to account. But some British journalists, especially those from minority backgrounds, hope the interview will trigger a long-overdue reckoning with media misbehaviour and lack of diversity.

Marcus Ryder, professor of media diversity at Birmingham City University, said it was too glib to speak of “watershed moments.”

“But I would suggest that this is a moment which will help shape the industry,” he said.

In the couple’s interview with Oprah Winfrey, Meghan accused British tabloids of “attacking and inciting so much racism” against her. Harry depicted a toxic relationship between monarchy and media, saying the royal family was “scared” of the tabloid press.

The allegations stirred a passionate response that has toppled two senior British media figures.

Talk show host Piers Morgan, a familiar TV face on both sides of the Atlantic, quit “Good Morning Britain” amid an outcry over his comments about Meghan, particularly her description of mental health struggles and suicidal thoughts.

Morgan told viewers on Monday that “I don’t believe a word she says.” His comments drew more than 41,000 complaints to Britain’s media regulator. Morgan walked off the “Good Morning Britain” set on Tuesday when another presenter challenged him, and quit the show later the same day.’

The furor has also claimed the job of Ian Murray, executive director of the Society of Editors. The new media umbrella group released a strongly worded defence of the press after Harry and Meghan’s interview, saying “the U.K. media is not bigoted and will not be swayed from its vital role holding the rich and powerful to account.”

That prompted a backlash. Top editors of The Guardian, the Financial Times and HuffPost UK took issue with the statement, while 160 reporters and editors signed a letter saying the Society of Editors was “in denial” about racism.

ITV News anchor Charlene White, the first Black woman to present the network’s main evening news program, pulled out of hosting the society’s annual Press Awards, saying the organization asked her to get involved to improve its diversity but failed to live up to its words.

“Since the Black Lives Matter movement really took hold in the U.K. last year, every single institution in this country has had to finally look at its failings and its position in terms of how they treat ethnic minorities both inside and outside of its walls,” White told the society in a statement. “But for some unknown reason, you feel as though the U.K. press is exempt in that discussion.”

On Wednesday, Murray stepped down, acknowledging his statement “could have been much clearer in its condemnation of bigotry and has clearly caused upset.”

Britain’s media, while diverse in its political and social views, is not representative of the population in terms of race, gender or class. Non-white Britons and women are underrepresented, while graduates of private schools hold a disproportionate share of the jobs.

Journalists who are working to change the situation say it is not easy.

Marverine Duffy, a former news anchor who directs the journalism program at Birmingham City University, says “improving the numbers of ethnically and socially diverse qualified journalists into newsrooms is paramount,” but is not enough.

“Systems need to be put in place to shake up group-think, anti-Blackness and the unwillingness to see racism and xenophobia for what it actually is, instead of turning a blind eye,” she said.

As well as sparking a debate about diversity, Meghan and Harry’s interview highlighted the media’s complex, uneasy relationship with the monarchy.

For decades, Britain’s royal dramas played out largely in private as a deferential media protected the secrets of the monarchy. In the 1930s, the romance between King Edward VIII and divorced American Wallis Simpson was headline news in the U.S., but barely mentioned in Britain until the king abdicated to marry the woman he loved.

That deference was evaporating by the time Prince Charles married 20-year-old Lady Diana Spencer in 1981. British media charted every twist of their increasingly unhappy marriage. Glamorous Diana became the world’s most famous woman, trailed by paparazzi up to the moment of her death in a Paris car crash in 1997 while being pursued by photographers.

Diana’s death prompted soul-searching for both palace and press. But it did not heal their troubled relationship.

Harry has spoken of his fear that history will repeat itself and his wife will suffer the same fate as his mother. When he and Meghan quit royal duties last year and moved to North America, they cited what they said were the unbearable intrusions and racist attitudes of the British media. The couple are suing several U.K. newspapers for invasion of privacy.

Ryder said the challenge for the media was differentiating legitimate stories about royalty that are in the public interest from intrusive gossip.

“It is a subjective call, and that subjective call is why we need our gatekeepers, the people who are making that call — the people who are the head of newspapers, the people who are the head of news broadcast bulletins — to have true diversity,” he said.

“Because if the only people that are making that call are white people from a certain background and are predominantly male, they will make different subjective calls than if we have more diversity.”

Others point out that despite their hostility to the British press, Harry and Meghan are deft media manipulators themselves.

Ed Owens, a historian who has studied the relationship between the media and royalty, said the couple is “utilizing the new channels of media — things like social media, the Oprah interview — to try and reach out and connect with new audiences.”

“This is nothing new,” he said. “The royals have always sought out new forms of media in order to connect with the public. Another thing that’s not new is the way that they used, if you like, a language of suffering and hardship in order to evoke an emotional response from media audiences around the world.”

“And I think to a large part, they succeeded,” he said.

___

AP writer Danica Kirka contributed to this report.

Jill Lawless, The Associated Press





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Trump could cash out his DJT stock within weeks. Here’s what happens if he sells

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Former President Donald Trump is on the brink of a significant financial decision that could have far-reaching implications for both his personal wealth and the future of his fledgling social media company, Trump Media & Technology Group (TMTG). As the lockup period on his shares in TMTG, which owns Truth Social, nears its end, Trump could soon be free to sell his substantial stake in the company. However, the potential payday, which makes up a large portion of his net worth, comes with considerable risks for Trump and his supporters.

Trump’s stake in TMTG comprises nearly 59% of the company, amounting to 114,750,000 shares. As of now, this holding is valued at approximately $2.6 billion. These shares are currently under a lockup agreement, a common feature of initial public offerings (IPOs), designed to prevent company insiders from immediately selling their shares and potentially destabilizing the stock. The lockup, which began after TMTG’s merger with a special purpose acquisition company (SPAC), is set to expire on September 25, though it could end earlier if certain conditions are met.

Should Trump decide to sell his shares after the lockup expires, the market could respond in unpredictable ways. The sale of a substantial number of shares by a major stakeholder like Trump could flood the market, potentially driving down the stock price. Daniel Bradley, a finance professor at the University of South Florida, suggests that the market might react negatively to such a large sale, particularly if there aren’t enough buyers to absorb the supply. This could lead to a sharp decline in the stock’s value, impacting both Trump’s personal wealth and the company’s market standing.

Moreover, Trump’s involvement in Truth Social has been a key driver of investor interest. The platform, marketed as a free speech alternative to mainstream social media, has attracted a loyal user base largely due to Trump’s presence. If Trump were to sell his stake, it might signal a lack of confidence in the company, potentially shaking investor confidence and further depressing the stock price.

Trump’s decision is also influenced by his ongoing legal battles, which have already cost him over $100 million in legal fees. Selling his shares could provide a significant financial boost, helping him cover these mounting expenses. However, this move could also have political ramifications, especially as he continues his bid for the Republican nomination in the 2024 presidential race.

Trump Media’s success is closely tied to Trump’s political fortunes. The company’s stock has shown volatility in response to developments in the presidential race, with Trump’s chances of winning having a direct impact on the stock’s value. If Trump sells his stake, it could be interpreted as a lack of confidence in his own political future, potentially undermining both his campaign and the company’s prospects.

Truth Social, the flagship product of TMTG, has faced challenges in generating traffic and advertising revenue, especially compared to established social media giants like X (formerly Twitter) and Facebook. Despite this, the company’s valuation has remained high, fueled by investor speculation on Trump’s political future. If Trump remains in the race and manages to secure the presidency, the value of his shares could increase. Conversely, any missteps on the campaign trail could have the opposite effect, further destabilizing the stock.

As the lockup period comes to an end, Trump faces a critical decision that could shape the future of both his personal finances and Truth Social. Whether he chooses to hold onto his shares or cash out, the outcome will likely have significant consequences for the company, its investors, and Trump’s political aspirations.

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Arizona man accused of social media threats to Trump is arrested

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Cochise County, AZ — Law enforcement officials in Arizona have apprehended Ronald Lee Syvrud, a 66-year-old resident of Cochise County, after a manhunt was launched following alleged death threats he made against former President Donald Trump. The threats reportedly surfaced in social media posts over the past two weeks, as Trump visited the US-Mexico border in Cochise County on Thursday.

Syvrud, who hails from Benson, Arizona, located about 50 miles southeast of Tucson, was captured by the Cochise County Sheriff’s Office on Thursday afternoon. The Sheriff’s Office confirmed his arrest, stating, “This subject has been taken into custody without incident.”

In addition to the alleged threats against Trump, Syvrud is wanted for multiple offences, including failure to register as a sex offender. He also faces several warrants in both Wisconsin and Arizona, including charges for driving under the influence and a felony hit-and-run.

The timing of the arrest coincided with Trump’s visit to Cochise County, where he toured the US-Mexico border. During his visit, Trump addressed the ongoing border issues and criticized his political rival, Democratic presidential nominee Kamala Harris, for what he described as lax immigration policies. When asked by reporters about the ongoing manhunt for Syvrud, Trump responded, “No, I have not heard that, but I am not that surprised and the reason is because I want to do things that are very bad for the bad guys.”

This incident marks the latest in a series of threats against political figures during the current election cycle. Just earlier this month, a 66-year-old Virginia man was arrested on suspicion of making death threats against Vice President Kamala Harris and other public officials.

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Trump Media & Technology Group Faces Declining Stock Amid Financial Struggles and Increased Competition

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Tech News in Canada

Trump Media & Technology Group’s stock has taken a significant hit, dropping more than 11% this week following a disappointing earnings report and the return of former U.S. President Donald Trump to the rival social media platform X, formerly known as Twitter. This decline is part of a broader downward trend for the parent company of Truth Social, with the stock plummeting nearly 43% since mid-July. Despite the sharp decline, some investors remain unfazed, expressing continued optimism for the company’s financial future or standing by their investment as a show of political support for Trump.

One such investor, Todd Schlanger, an interior designer from West Palm Beach, explained his commitment to the stock, stating, “I’m a Republican, so I supported him. When I found out about the stock, I got involved because I support the company and believe in free speech.” Schlanger, who owns around 1,000 shares, is a regular user of Truth Social and is excited about the company’s future, particularly its plans to expand its streaming services. He believes Truth Social has the potential to be as strong as Facebook or X, despite the stock’s recent struggles.

However, Truth Social’s stock performance is deeply tied to Trump’s political influence and the company’s ability to generate sustainable revenue, which has proven challenging. An earnings report released last Friday showed the company lost over $16 million in the three-month period ending in June. Revenue dropped by 30%, down to approximately $836,000 compared to $1.2 million during the same period last year.

In response to the earnings report, Truth Social CEO Devin Nunes emphasized the company’s strong cash position, highlighting $344 million in cash reserves and no debt. He also reiterated the company’s commitment to free speech, stating, “From the beginning, it was our intention to make Truth Social an impenetrable beachhead of free speech, and by taking extraordinary steps to minimize our reliance on Big Tech, that is exactly what we are doing.”

Despite these assurances, investors reacted negatively to the quarterly report, leading to a steep drop in stock price. The situation was further complicated by Trump’s return to X, where he posted for the first time in a year. Trump’s exclusivity agreement with Trump Media & Technology Group mandates that he posts personal content first on Truth Social. However, he is allowed to make politically related posts on other social media platforms, which he did earlier this week, potentially drawing users away from Truth Social.

For investors like Teri Lynn Roberson, who purchased shares near the company’s peak after it went public in March, the decline in stock value has been disheartening. However, Roberson remains unbothered by the poor performance, saying her investment was more about supporting Trump than making money. “I’m way at a loss, but I am OK with that. I am just watching it for fun,” Roberson said, adding that she sees Trump’s return to X as a positive move that could expand his reach beyond Truth Social’s “echo chamber.”

The stock’s performance holds significant financial implications for Trump himself, as he owns a 65% stake in Trump Media & Technology Group. According to Fortune, this stake represents a substantial portion of his net worth, which could be vulnerable if the company continues to struggle financially.

Analysts have described Truth Social as a “meme stock,” similar to companies like GameStop and AMC that saw their stock prices driven by ideological investments rather than business fundamentals. Tyler Richey, an analyst at Sevens Report Research, noted that the stock has ebbed and flowed based on sentiment toward Trump. He pointed out that the recent decline coincided with the rise of U.S. Vice President Kamala Harris as the Democratic presidential nominee, which may have dampened perceptions of Trump’s 2024 election prospects.

Jay Ritter, a finance professor at the University of Florida, offered a grim long-term outlook for Truth Social, suggesting that the stock would likely remain volatile, but with an overall downward trend. “What’s lacking for the true believer in the company story is, ‘OK, where is the business strategy that will be generating revenue?'” Ritter said, highlighting the company’s struggle to produce a sustainable business model.

Still, for some investors, like Michael Rogers, a masonry company owner in North Carolina, their support for Trump Media & Technology Group is unwavering. Rogers, who owns over 10,000 shares, said he invested in the company both as a show of support for Trump and because of his belief in the company’s financial future. Despite concerns about the company’s revenue challenges, Rogers expressed confidence in the business, stating, “I’m in it for the long haul.”

Not all investors are as confident. Mitchell Standley, who made a significant return on his investment earlier this year by capitalizing on the hype surrounding Trump Media’s planned merger with Digital World Acquisition Corporation, has since moved on. “It was basically just a pump and dump,” Standley told ABC News. “I knew that once they merged, all of his supporters were going to dump a bunch of money into it and buy it up.” Now, Standley is staying away from the company, citing the lack of business fundamentals as the reason for his exit.

Truth Social’s future remains uncertain as it continues to struggle with financial losses and faces stiff competition from established social media platforms. While its user base and investor sentiment are bolstered by Trump’s political following, the company’s long-term viability will depend on its ability to create a sustainable revenue stream and maintain relevance in a crowded digital landscape.

As the company seeks to stabilize, the question remains whether its appeal to Trump’s supporters can translate into financial success or whether it will remain a volatile stock driven more by ideology than business fundamentals.

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