Americans Don’t Trust the Media Anymore. So Why Do They Trust the Cuomos? - The New York Times | Canada News Media
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Americans Don’t Trust the Media Anymore. So Why Do They Trust the Cuomos? – The New York Times

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4 years ago

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At the end of 2013, CNN executives sent word to Chris Cuomo: No more interviewing your brother on television.

The CNN host had taken a little heat when he addressed his older brother, Andrew Cuomo, deferentially as “governor” in an interview about a train accident in New York. Can you really cover your brother fairly? critics asked on Twitter.

So for six years, Chris Cuomo sat by silently while the governor appeared on his morning show “New Day,” but was interviewed by other CNN personalities. The elder Mr. Cuomo used those occasions to mock his little brother so brutally that Jon Stewart made a montage of it. Andrew Cuomo at one point suggested that Chris Cuomo “go into a prison and maybe stay there for about a year or so and then do an exposé on prison life.”

All that changed on Wednesday, March 11. Andrew Cuomo had become too central to the coronavirus story to ignore, and Chris Cuomo’s bosses at CNN gave him the green light.

So in a series of four riveting interviews, Andrew Cuomo, 62, delivered the scary reality of the pandemic to his brother’s audience. He also bragged that he is their mother’s favorite and that Chris — Christopher, he calls him — was the family “meatball.” When the governor’s audio finally dropped, Chris delivered an aside: “This is a great chance for me to say some things to him.”

The Cuomo brothers’ show became a deeper drama last week when Chris Cuomo, 49, revealed his coronavirus diagnosis. He had lost 13 pounds in three days. He chipped a tooth one night when he was in terrible pain. On Thursday, he called into his brother’s daily news conference.

“You came to me in a dream, you had on a very interesting ballet outfit, and you were dancing in the dream, and you were waving a wand and saying, ‘I wish I could wave my wand and make this go away,’” Chris Cuomo told the governor.

The sick guy in his basement roasting his brother is not exactly high-minded journalism. Imagine the reaction, if, say, a Trump family member interviewed the president on Fox News. But it is moving television. And more than anything, it reflects the instincts and inclinations of Jeff Zucker, the morning show producer-turned-corporate executive who now runs CNN.

“It flies against every preconceived notion of normal CNN standards and practices,” Piers Morgan, the former CNN host who is now a co-presenter of “Good Morning Britain,” said in an interview.

“But,” Mr. Morgan added, “the corona governor talking to his victim brother is incredible to watch.”

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Both Cuomos declined to speak about their on-screen relationship. But on his SiriusXM radio show last Tuesday, the younger Cuomo acknowledged that, when interviewing the governor, he’s not an ordinary journalist questioning a public official. He’s offering insight into a man he is close to and hopes his audience can understand more deeply.

“I wanted people to see that he’s not just super-intense on this all the time — that he’s living it with you,” Chris Cuomo said. “He gets it. He’s not a general. He’s a man in full, and he’s worried.”

He acknowledged the obvious conflict of interest. “There will come a time when there’s an accountability measure where it will no longer make sense for it to be me” interviewing the governor, he said.

Even without the almost cinematic story line, the coronavirus moment seemed tailor-made for Chris Cuomo. He’s a high-wattage, emotional journeyman who arrived at CNN to revive its morning show in 2013.

His unpredictable, in-your-face style — on camera and off — didn’t always work in an ensemble. So in 2018, Mr. Zucker moved him to a 9 p.m. slot, opposite MSNBC’s Rachel Maddow and Sean Hannity of Fox News, two ideologically driven powerhouses who typically — and easily — bested CNN in the ratings.

For two years, Mr. Cuomo delivered a solid audience — it is CNN’s top-rated show — but never broke out. His mad-as-hell attacks on government failures lacked the explanatory clarity offered by Ms. Maddow and her MSNBC colleague Chris Hayes. His celebrity quality — taut T-shirts and bulging biceps bared during Hurricane Irma in 2017 and workout videos on Instagram — didn’t connect to the political moment. His most compelling viral moment occurred last year, when he erupted angrily at a guy who called him “Fredo” at a bar on Shelter Island.

But the new crisis plays to his strengths. It is about Mr. Cuomo’s go-to topic: government failure. Audiences are eager for accountability and information. But they are also responding to love, Noah Oppenheim, the president of NBC News who keeps an eye on the competition, said in an interview. “Love between people — whether it’s brothers in high-profile positions, or doctors and patients.”

That is one thing the Cuomos do: They love one another. On March 30, the day a Navy hospital ship arrived in New York, they said “I love you” twice each, in quick succession.

The affection, the combat — this is, friends say, how they are. “I was a little shocked at how open they’re being about this but people seem to really enjoy it,” said a close friend of Chris Cuomo’s, Chris Vlasto, an ABC News executive producer. (I’ve noticed that I’m quoting a lot of men in this column; the Cuomos’ world is very male.)

The boys and their three sisters grew up at the feet of Gov. Mario Cuomo, who served as a counterpoint in the 1980s to the Republican president, Ronald Reagan. Mario Cuomo was the intellectual keeper of the Democratic flame, much as his elder son provides Democrats with their clearest contrast to President Trump today.

The governor was a demanding father who bred intense competitiveness among his children. Andrew was a gear head and his father’s right hand; Chris was the pudgy youngest of five, who worshiped his big brother. “The relationship between Andrew and Chris when they were younger was much more a father and son type relationship,” said John Marino, an aide to Mario Cuomo, who recalled driving to New Jersey with Andrew days before the 1986 New York election to check out a used sports car that Chris wanted. “Mario was governor, he was busy, and Andrew remained very, very close to Chris.”

Their relationship has stayed close, and complex. Andrew is a solitary figure, Chris is an extrovert. Andrew is a behind-the-scenes player, Chris is a performer.

Chris has also been an adviser to his brother, people who have worked for Andrew told me, sometimes extending his advice to the governor’s staff. He’s encouraged his brother’s boldness; he has also encouraged the governor’s prickliness about media coverage, a shared “Cuomo gene,” one friend said.

And now, suddenly, “my brother is this fulcrum point of where we are, and what’s going on, and now all of you are watching CNN for perspective on this and I’m right in the middle of it,” Chris Cuomo said on his radio show. “And now I have coronavirus. So weird.”

He added: “The fact that you think Andrew is sexy is so weird to me.”

CNN’s audience more than doubled from March 9 to April 2, according to Nielsen, outpacing its rivals in audience growth. “Cuomo Prime Time” is up even more, 118 percent. The most-read story on CNN’s website on Thursday — even as news broke that 6.6 million people had filed unemployment claims — was about Mr. Cuomo’s personal battle with the virus.

It’s easy, in this strange moment, to forget how far even outside the stretched norms of television news this is.

But the critics have started to raise eyebrows. The Washington Post’s media columnist, Margaret Sullivan, asked Saturday whether the “journalism ethics police” shouldn’t shut down the whole thing.

Fabian Reinbold, a German foreign correspondent based in Washington, was also puzzled.

“It would be considered highly inappropriate and corrupt back home, but here it is getting applause on Twitter by a lot of colleagues,” Mr. Reinbold said. “Needless to say, there are plenty of such problems in the Fox News/Trump corner as well, but this surprised much more.”

Crises often transform the broadly accepted rules of media. And for a century they’ve pulled news toward emotion and connection. Edward R. Murrow opened a new kind of broadcast news theater when he spoke from a London roof in 1941, and made his audience feel the terror of the Blitz. On Sept. 11, 2001, the business reporter Ron Insana, who witnessed the collapse of the World Trade Center, showed up on “The Today Show” his suit still dusty with ash.

The coronavirus crisis has accelerated trends in American TV. There’s a technological shift; executives are already thinking about how much money they will save by sticking to Skype and Zoom (or, in CNN’s case, Cisco Webex, which struck perhaps the year’s luckiest marketing deal to put its logo on the screen of now-ubiquitous remote interviews). There’s the new experience of seeing reporters and anchors at home — which manages to feel both informal and staged at the same time.

But the biggest shift may be the one Mr. Zucker and the Cuomos are now leading. They are, in their way, answering the endlessly debated question of how to restore trust in media. Do you strive to project an impossible ideal of total objectivity? Or do you reveal more of yourself, on Twitter or on Instagram and in your home?

The old model for authority in public affairs, of course, is a man in a suit and a tie behind a desk. It was appropriated with particular success by Donald Trump on “The Apprentice,” another Zucker creation. Today, daily White House news briefings often feel like clumsily produced episodes of reality television, a kind of parody of old-fashioned TV seriousness.

Meanwhile, Mr. Zucker’s CNN is taking TV news in the other direction, toward reality television and Instagram, winning trust through the projection of a rough-cut realness. The Cuomos aren’t just feeling your pain. You’re feeling theirs.

News organizations invest heavily to build belief in their brands. That’s why CNN calls itself “The Most Trusted Name in News.” But at a moment when celebrities and social media figures seem to be connecting with Americans better than faceless brands, two brothers who share corny jokes and coronavirus fears are turning the “Cuomo” name into its own source of trust.

“You get trust from authenticity and relatability and vulnerability,” Mr. Zucker told me. “That’s what the brothers Cuomo are giving us right now.”

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

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3 weeks ago

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August 23, 2024

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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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3 weeks ago

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August 23, 2024

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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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3 weeks ago

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August 20, 2024

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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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