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‘An atomic bomb for local news’: Metro Media shuts down all publications

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The abrupt closure of the Métro Média group, which includes more than twenty hyperlocal publications in Montreal and Quebec City, is a real “atom bomb” for local news, according to several observers of the Quebec media landscape.

Shortly after 4:30 p.m. on Friday, the company’s president and CEO, Andrew Mulé, announced to his employees, colleagues and collaborators “the immediate suspension of operations of Métro, all (its) newspapers and (its) community websites.”

“Time was my worst enemy, and what I feared has unfortunately happened, albeit abruptly and suddenly,” lamented the publisher, who says he was informed on Wednesday that the company no longer had the necessary liquidity to continue operations, despite a “healthy balance sheet.”

According to Jean-Hugues Roy, professor at UQAM’s École des médias, the shuttering of Métro Média’s publications is both “sad and expected.”

“It’s even tragic … It’s an atomic bomb for local news in Montreal and Quebec City,” he said in an interview.

“It’s a piece of journalistic history, but also of certain neighbourhoods, that’s disappearing. Le Messager de Verdun celebrates its 110th anniversary this year … These are communities that rely on these newspapers as sources of information.”

A person holds a phone displaying the home page of Metro Media, which reads in French that the company is suspending activities, in Toronto, Friday, Aug. 11, 2023. THE CANADIAN PRESS/Giordano Ciampini

His colleague Patrick White agreed, even indicating that the province’s two largest cities will face media deserts.

“This is very, very bad news for local democracy,” he said in a telephone interview. “It’s the end of the hyperlocal coverage model in Montreal and Quebec City. We’re going to stop covering borough councils.”

“It’s not good news for society in general if we lose several voices covering the news,” added Éric-Pierre Champagne, vice-president of the Fédération professionnelle des journalistes du Québec. “When information doesn’t come out on top, it’s the public that loses out.”

He noted that the group’s weeklies covered a certain “blind spot” in the major Montreal dailies.

Annick Charette, president of the Fédération nationale de la culture et des communications (FNCC-CSN), described the announcement as “catastrophic,” even though she had been working closely with Mulé for several months to get the company out of its difficulties.

“It creates a big, big hole. For many communities, their weekly newspaper was a very important communication vehicle,” stressed Charette. “For many people, it was the only French-language news or publications that came into their homes.”

“We worked hard with the owners, we tried to find alternative solutions, we had meetings with several investors, the city … I hope that this closure will only be temporary,” added Charette, who, last May, had feared in a press release “the pure and simple disappearance of this local press” if no aid measures were brought to the company.

In a press release issued late Friday evening, the FNCC-CSN called for “immediate and constructive intervention” from all levels of government to save local news on the Island of Montreal.

Métro Média was created in April 2018 at the time of the acquisition of the daily Métro as well as 11 metropolitan publications and five publications from Quebec City region. Some of these publications were close to 100 years old.

According to statistics on the company’s website, the Métro newspaper reached 100,000 readers weekly. Its website had 1.9 million unique visitors every month and a total of 165,000 copies of all weeklies were distributed each month.

The company employed around 100 people, more than half of whom were unionized.

A few layoffs had taken place last winter and in recent weeks.

Reached via social media, Mulé declined an interview request from The Canadian Press, saying he had said it all in his message.

“This is very bad news for citizens. Access to local sources of information is important. The Ministère de la Culture et des Communications will continue to support local newspapers, as it has done for several years,” reacted the Minister of Culture and Communications, Mathieu Lacombe, a former journalist.

FINGER POINTED AT THE END OF PUBLISAC

The businessman pointed out that despite “a major and significant digital shift … Métro was dealt a particularly devastating blow when the Mayor of Montreal announced the end of our distribution method, the Publisac.”

“(We) couldn’t suffer a devastating loss of revenue suddenly and follow an ambitious and expensive digital roadmap without external financial help. We are, after all, a small company without funding, and the premature end of our print media meant that we had no way of quickly financing our future without a major investment,” wrote Mulé, adding that he has “spent the past year knocking on every door in Quebec and Canada” for help.

Last spring, Mulé had threatened to lay off half of his employees without financial support from Montreal due to the suspension of distribution of his newspapers through the Publisac.

On X, formerly known as Twitter, Montreal Mayor Valérie Plante expressed her sadness about the closure of the media outlet. Calling it “a major loss for the media ecosystem and the daily lives of Montrealers,” the mayor did not respond to Mulé’s criticism of his decision to end Publisac distribution.

“The radical transformation of the media business environment calls for urgent reflection and collective solutions,” Plante said, praising the work of the Métro Média group.

This comment seems to have stung Andrew Mulé to the core, as he retorted that “the beauty of communicating on social media [is the] total control of the message upon publication without the need for independent fact-checking. Good luck with that Montreal.”

A BUSINESS MODEL TO REVIEW

However, Jean-Hugues Roy is not surprised by the setbacks of Métro Média, which had been trying for several months to survive, notably by attempting to transform itself into a cooperative.

“The Publisac argument, when you consider that a judgment was handed down just over a month ago, shows above all that the information business model, which is dependent on advertising, no longer works,” he says. “Advertising can no longer be the sole or main source of revenue to finance news.”

“It’s an old business model that we tried to modernize with a digital shift,” White said. “We knew it wasn’t easy and that stopping newspaper distribution hurt a lot.”

Roy fears that other media, still dependent on this business model, will follow Métro Média’s footsteps in the coming months.

“A lot of newspapers, including in the regions, are still distributed by Publisac. We have one voice that’s dying out, but several others could.”

This report by The Canadian Press was first published in French on Aug. 11, 2023.  

 

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What to stream this weekend: ‘Civil War,’ Snow Patrol, ‘How to Die Alone,’ ‘Tulsa King’ and ‘Uglies’

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Hallmark launching a streaming service with two new original series, and Bill Skarsgård out for revenge in “Boy Kills World” are some of the new television, films, music and games headed to a device near you.

Also among the streaming offerings worth your time as selected by The Associated Press’ entertainment journalists: Alex Garland’s “Civil War” starring Kirsten Dunst, Natasha Rothwell’s heartfelt comedy for Hulu called “How to Die Alone” and Sylvester Stallone’s second season of “Tulsa King” debuts.

NEW MOVIES TO STREAM SEPT. 9-15

Alex Garland’s “Civil War” is finally making its debut on MAX on Friday. The film stars Kirsten Dunst as a veteran photojournalist covering a violent war that’s divided America; She reluctantly allows an aspiring photographer, played by Cailee Spaeny, to tag along as she, an editor (Stephen McKinley Henderson) and a reporter (Wagner Moura) make the dangerous journey to Washington, D.C., to interview the president (Nick Offerman), a blustery, rising despot who has given himself a third term, taken to attacking his citizens and shut himself off from the press. In my review, I called it a bellowing and haunting experience; Smart and thought-provoking with great performances. It’s well worth a watch.

— Joey King stars in Netflix’s adaptation of Scott Westerfeld’s “Uglies,” about a future society in which everyone is required to have beautifying cosmetic surgery at age 16. Streaming on Friday, McG directed the film, in which King’s character inadvertently finds herself in the midst of an uprising against the status quo. “Outer Banks” star Chase Stokes plays King’s best friend.

— Bill Skarsgård is out for revenge against the woman (Famke Janssen) who killed his family in “Boy Kills World,” coming to Hulu on Friday. Moritz Mohr directed the ultra-violent film, of which Variety critic Owen Gleiberman wrote: “It’s a depraved vision, yet I got caught up in its kick-ass revenge-horror pizzazz, its disreputable commitment to what it was doing.”

AP Film Writer Lindsey Bahr

NEW MUSIC TO STREAM SEPT. 9-15

— The year was 2006. Snow Patrol, the Northern Irish-Scottish alternative rock band, released an album, “Eyes Open,” producing the biggest hit of their career: “Chasing Cars.” A lot has happened in the time since — three, soon to be four quality full-length albums, to be exact. On Friday, the band will release “The Forest Is the Path,” their first new album in seven years. Anthemic pop-rock is the name of the game across songs of love and loss, like “All,”“The Beginning” and “This Is the Sound Of Your Voice.”

— For fans of raucous guitar music, Jordan Peele’s 2022 sci-fi thriller, “NOPE,” provided a surprising, if tiny, thrill. One of the leads, Emerald “Em” Haywood portrayed by Keke Palmer, rocks a Jesus Lizard shirt. (Also featured through the film: Rage Against the Machine, Wipers, Mr Bungle, Butthole Surfers and Earth band shirts.) The Austin noise rock band are a less than obvious pick, having been signed to the legendary Touch and Go Records and having stopped releasing new albums in 1998. That changes on Friday the 13th, when “Rack” arrives. And for those curious: The Jesus Lizard’s intensity never went away.

AP Music Writer Maria Sherman

NEW SHOWS TO STREAM SEPT. 9-15

— Hallmark launched a streaming service called Hallmark+ on Tuesday with two new original series, the scripted drama “The Chicken Sisters” and unscripted series “Celebrations with Lacey Chabert.” If you’re a Hallmark holiday movies fan, you know Chabert. She’s starred in more than 30 of their films and many are holiday themed. Off camera, Chabert has a passion for throwing parties and entertaining. In “Celebrations,” deserving people are surprised with a bash in their honor — planned with Chabert’s help. “The Chicken Sisters” stars Schuyler Fisk, Wendie Malick and Lea Thompson in a show about employees at rival chicken restaurants in a small town. The eight-episode series is based on a novel of the same name.

Natasha Rothwell of “Insecure” and “The White Lotus” fame created and stars in a new heartfelt comedy for Hulu called “How to Die Alone.” She plays Mel, a broke, go-along-to-get-along, single, airport employee who, after a near-death experience, makes the conscious decision to take risks and pursue her dreams. Rothwell has been working on the series for the past eight years and described it to The AP as “the most vulnerable piece of art I’ve ever put into the world.” Like Mel, Rothwell had to learn to bet on herself to make the show she wanted to make. “In the Venn diagram of me and Mel, there’s significant overlap,” said Rothwell. It premieres Friday on Hulu.

— Shailene Woodley, DeWanda Wise and Betty Gilpin star in a new drama for Starz called “Three Women,” about entrepreneur Sloane, homemaker Lina and student Maggie who are each stepping into their power and making life-changing decisions. They’re interviewed by a writer named Gia (Woodley.) The series is based on a 2019 best-selling book of the same name by Lisa Taddeo. “Three Women” premieres Friday on Starz.

— Sylvester Stallone’s second season of “Tulsa King” debuts Sunday on Paramount+. Stallone plays Dwight Manfredi, a mafia boss who was recently released from prison after serving 25 years. He’s sent to Tulsa to set up a new crime syndicate. The series is created by Taylor Sheridan of “Yellowstone” fame.

Alicia Rancilio

NEW VIDEO GAMES TO PLAY

— One thing about the title of Focus Entertainment’s Warhammer 40,000: Space Marine 2 — you know exactly what you’re in for. You are Demetrian Titus, a genetically enhanced brute sent into battle against the Tyranids, an insectoid species with an insatiable craving for human flesh. You have a rocket-powered suit of armor and an arsenal of ridiculous weapons like the “Chainsword,” the “Thunderhammer” and the “Melta Rifle,” so what could go wrong? Besides the squishy single-player mode, there are cooperative missions and six-vs.-six free-for-alls. You can suit up now on PlayStation 5, Xbox X/S or PC.

— Likewise, Wild Bastards isn’t exactly the kind of title that’s going to attract fans of, say, Animal Crossing. It’s another sci-fi shooter, but the protagonists are a gang of 13 varmints — aliens and androids included — who are on the run from the law. Each outlaw has a distinctive set of weapons and special powers: Sarge, for example, is a robot with horse genes, while Billy the Squid is … well, you get the idea. Australian studio Blue Manchu developed the 2019 cult hit Void Bastards, and this Wild-West-in-space spinoff has the same snarky humor and vibrant, neon-drenched cartoon look. Saddle up on PlayStation 5, Xbox X/S, Nintendo Switch or PC.

Lou Kesten

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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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