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Brock Media Clips for Friday, Nov. 12 – The Brock News – Brock University

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Here’s a look at some of the media attention Brock University received recently.

Niagara in the Morning comes to Brock: Newstalk 610 CKTB’s Niagara in the Morning broadcast was live from Brock University’s Rankin Family Pavilion on Friday, Nov. 12 and featured interviews with Interim President Lynn Wells, Associate Vice-President, Research Michelle McGinn, Director of the Brock LINC Farzana Crocco, Brock University Students’ Union President Rafay Rehan, Assistant Professor of Sport Management Michael Naraine, Director of Co-op, Career and Experiential Education Cara Krezek and Manager of Communications and Media Relations Dan Dakin.

Remembrance Day: Flag-raising discussions in Canada pose questions about residential schools and what we remember: Brock University Associate Professor of Educational Studies Trevor Norris spoke to 630 CHED about bout how to honour veterans for Remembrance Day while also respecting the Indigenous children who died in residential schools.

Why do we want to watch comedies that make us cry? The creators of CBC’s Sort Of have some ideas: Assistant Professor of Communication, Popular Culture and Film Liz Clarke spoke to CBC about the rise of genre-fluid television projects.

Here’s how some in northwestern Ontario are reflecting on Treaties Recognition Week: Interdisciplinary Humanities PhD candidate Joshua Manitowabi spoke to CBC about the importance of treaties and the role Indigenous people and all Canadians have in honouring them.

What parents need to know about COVID-19 vaccine for children aged five to 11: Associate Professor of Health Sciences Adam MacNeil was quoted by the St. Catharines Standard in an article about giving the COVID-19 vaccine to children.

Brock University team examining pandemic communication in Niagara: The research of a team led by the Brock University Library to examine the communication strategies of various local organizations during the COVID-19 pandemic was the subject of a Newstalk 610 CKTB article.

If you know of an appearance or story about a Brock faculty member, student, athlete or alumni, please drop us a line with a link to the story at universitycom@brocku.ca


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Trump's social media venture says it has raised $1B – Vancouver Sun

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He is working to launch a social media app called TRUTH Social that is at least several weeks away.

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Donald Trump’s new social media venture said on Saturday it had entered into agreements to raise about $1 billion from a group of unidentified investors as it prepares to float in the U.S. stock market.

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The capital raise, details of which were first reported by Reuters on Wednesday, underscored the former U.S. president’s ability to attract strong financial backing thanks to his personal and political brand. He is working to launch a social media app called TRUTH Social that is at least several weeks away.

Digital World Acquisition Corp, the blank-check acquisition firm that will take Trump Media & Technology Group Corp public by listing it in New York, said it will provide up to $293 million to the partnership with Trump’s media venture, taking the total proceeds to about $1.25 billion.

The $1 billion will be raised through a private investment in public equity (PIPE) transaction from “a diverse group of institutional investors,” Trump Media and Digital World said in a statement. They did not respond to requests to name the investors.

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Trump Media inked its deal with Digital World to go public in October at a valuation of $875 million, including debt. The social media venture is now valued at almost $4 billion based on the price of Digital World shares at the end of trading on Friday. Trump supporters and day traders snapped up the stock.

Many Wall Street firms such as mutual funds and private equity firms snubbed the opportunity to invest in the PIPE. Among those investors who participated were hedge funds, family offices and high net-worth individuals, Reuters reported on Wednesday. Family offices manage the wealth of the very rich and their kin.

Some Wall Street investors are reluctant to associate with Trump. He was banned from top social media platforms after the Jan. 6 attack by his supporters on the U.S. Capitol amid concerns he would inspire further violence. The Capitol attack was based on unsubstantiated claims of widespread fraud in last year’s presidential election.

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“As our balance sheet expands, Trump Media & Technology Group will be in a stronger position to fight back against the tyranny of Big Tech,” Trump said in a statement on Saturday.

The deal also faces regulatory risk. U.S. Senator Elizabeth Warren asked Securities and Exchange Commission Chairman Gary Gensler last month to investigate the planned merger for potential violations of securities laws around disclosure. The SEC has declined to comment on whether it plans any action.

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Trump Media and Digital World said the per-share conversion price of the convertible preferred stock PIPE transaction represents a 20% discount to Digital World’s volume-weighted average closing price for the five trading days to Dec. 1, when Reuters broke news of the capital raise.

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If that price averages below $56 in the 10 days after the merger with Digital World has been completed, the discount will grow to 40% with a floor of $10, the companies added. Digital World shares ended trading on Friday $44.97.

Trump had 89 million followers on Twitter, 33 million on Facebook and 24.5 million on Instagram at the time he was blocked, according to a presentation on his company’s website.

Investors attending the confidential investor road shows were shown a demo from the planned social media app, which looked like a Twitter feed, Reuters reported.

FIRST-QUARTER ROLLOUT

Since Trump was voted out of office last year, he has repeatedly dropped hints that he might seek the presidency in 2024.

Special purpose acquisition companies such as Digital World had lost much of their luster with retail investors before the Trump media deal came along. Many of these investors were left with big losses after the companies that merged with SPACs failed to deliver on their ambitious financial projections.

TRUTH Social is scheduled for a full rollout in the first quarter of 2022. It is the first of three stages in the Trump Media plan, followed by a subscription video-on-demand service called TMTG+ that will feature entertainment, news and podcasts, according to the news release.

In a slide deck on its website, the company envisions eventually competing against Amazon.com’s AWS cloud service and Google Cloud.

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Trump social media company claims to raise $1bn from investors – The Guardian

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Trump social media company claims to raise $1bn from investors  The Guardian



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Trump's new social media company says it has $1 billion in funding lined up – National | Globalnews.ca – Global News

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Donald Trump‘s new social media company and its special purpose acquisition company partner say the partner has agreements for $1 billion in capital from institutional investors.

The former president launched his new company, Trump Media & Technology Group, in October. He unveiled plans for a new messaging app called “Truth Social” to rival Twitter and the other social media platforms that banned him following the Jan. 6 insurrection at the U.S. Capitol.

TMTG’s plan is to become a publicly listed company through a merger with the publicly traded Digital World Acquisition Corp., a special purpose acquisition company whose sole purpose is to acquire a private company and take it public.

Read more:

Trump tested positive for COVID-19 days before Biden debate, ex aide says

The institutional investors were not identified in a press release issued Saturday by Trump Media and Digital World. The money would come from “a diverse group” of investors after the two companies are combined, it said.

Digital World said in the release that the $1 billion is above the $293 million (minus expenses) that it may invest.

“I am confident that TMTG can effectively deploy this capital to accelerate and strengthen the execution of its business, including by continuing to attract top talent, hire top technology providers, and roll out significant advertising and business development campaigns,” Digital World CEO Patrick Orlando said in the release.

Trump is listed as chair of TMTG. He will get tens of millions in special bonus shares if the combined company performs well, handing the former president possibly billions of dollars in paper wealth.

© 2021 The Canadian Press

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