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If Trump Returns to Twitter and Facebook, His Own Social Media Company Could Be Screwed

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Donald Trump’s presidential campaign is mulling a return to Twitter and Facebook for the former tweeter-in-chief. Such a move might help his stalled political operation, but it could also seriously undermine his most prominent current business endeavor, the social media platform Truth Social. Shares in Digital World Acquisition Corp.—a company that’s supposed to one day merge with Truth Social’s parent company and take it public—dropped precipitously on the news that Trump was eyeing a return to other platforms.

On Tuesday, Trump’s campaign sent a formal letter to Meta, the parent company of Facebook, asking for Trump’s Facebook account to be restored. Trump’s Twitter account was also recently restored following Elon Musk’s takeover of that company, but Trump has not yet posted there. On Tuesday, NBC reported that Trump aides have begun workshopping potential tweets for a return. Both platforms banned Trump after the January 6 attack on the US Capitol, but the Facebook ban was eligible to be lifted after two years—a period that elapsed on January 7 of this year. Both platforms were powerful tools for his earlier campaigns; he had more than 35 million followers on Facebook and 88.7 million on Twitter. On Truth Social, which was set up in late 2021, he has just 4.2 million followers. His posts there have limited visibility beyond his most hard-core supporters.

While Truth Social has appeared to struggle—reports this past summer alleged it was failing to pay vendors on time, and several top executives and board members have left—it remains one of the few potentially bright spots in Trump’s business empire. His development projects and condo sales have dried up, and hotel revenue dropped off a cliff during the pandemic. Truth Social, meanwhile, could pay off big for Trump if it ever completes its merger with DWAC. DWAC is what is known as a special purpose acquisition corporation—a company formed with no specific business plan and which goes public as essentially a blank slate. Once public, a SPAC then seeks to merge with a business that does have a real purpose—in this case Truth Social’s parent company, Trump Media and Technology Group.

It’s a process that allows companies like TMTG, which would’ve struggled to make it through the traditional IPO process, to go public. Shares in DWAC, which signed an agreement to merge with TMTG in 2021, surged as high as $97 after the deal was announced. The price has dropped over the past year as the company has disclosed various investigations by the Securities and Exchange Commission and other financial regulators. At the heart of those probes is an allegation that the company broke the primary rule of SPACs and had already struck some kind of agreement with Trump’s company before going public. DWAC denies this. The two entities can’t merge until the SEC completes its investigation—a delay that is preventing Trump’s company from accessing huge amounts of investor money.

While following a general downward trend lately, DWAC’s share prices have bounced around based mostly on what Trump has been doing and how active he has been on Truth Social. While Trump-aligned politicians have flocked to the site, the platform has largely failed to attract many outside the MAGA-faithful. The share price jumped up around the time Trump announced his 2024 presidential campaign but then slid back down as the campaign seemed to go dormant. Shares in DWAC had slumped to less than $15 late last year—close to its all-time low—before briefly jumping earlier this week when Trump posted a message on Truth Social claiming the platform was seeing a lot of activity. But on Wednesday, after news broke that Trump’s campaign is actively pursuing a return to Twitter and Facebook, DWAC’s share prices began diving again, losing more than 7 percent of its value.

As has been the case for most of his time since founding Truth Social, Trump didn’t seem particularly concerned about soothing investors or pushing back on worries that he might neglect his pet media project. His Truth Social posts on Wednesday were extended diatribes about the investigation into the discovery of classified documents at Mar-a-Lago and a flurry of links to stories about Hunter Biden. (In one post, Trump claimed he took folders marked as “classified” as souvenirs and suggested someone might have planted real classified information among them.)

Investors should probably worry about Trump departing Truth Social—or at least relegating it to the back burner. While he has stated he will stick with the platform, it has long been made clear that he has essentially no legal obligation to do so. As I wrote last fall, Trump is supposed to post content on Truth Social six hours before it appears elsewhere, but there’s an exception for anything considered “political messaging”:

DWAC disclosed in Monday’s filing TruthSocial does have exclusive rights to some of Trump’s social media postings—but it won’t have a monopoly on the type of political red meat that made Trump such a draw on Twitter in the first place. In general, Trump will be obligated to post content on TruthSocial six hours before it can be published anywhere else. But there’s a massive loophole: These rules don’t apply to any content that is related to political messaging, political fundraising, or get-out-the-vote efforts. Those can be posted anywhere Trump wants, whenever he wants.

As I noted, only a few of Trump’s most popular tweets were strictly personal and non-political.

At the time, DWAC seemed to acknowledge that such a scenario could pose a substantial risk to its business. “TMTG’s future success will depend, to a significant extent, upon the continued presence and popularity of President Trump,” the company warned investors. “If President Trump were to discontinue his relationship with TMTG due to death, disability, or any other reason, or limit his involvement with TMTG due to becoming a candidate for political office, TMTG would be significantly disadvantaged.”

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From Mansion to Moat: Drake’s Million Dollar Home Gets Soaked

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Toronto residents woke up to a soggy Wednesday morning after the city was pummeled by record-breaking rainfall on Tuesday. The downpour caused widespread flooding across the city, and even the opulent mansion of rap superstar Drake wasn’t spared.

 

Drake’s “Embassy” Flooded

Drake shared a video on his Instagram story showing the extent of the water damage at his Toronto mansion, nicknamed “The Embassy.” The sprawling 50,000-square-foot estate boasts an NBA-regulation basketball court and an art-deco theme, but on Tuesday, it was battling ankle-deep murky water flooding its halls.

The video shows Drake himself, clad in shorts and holding a broom, wading through the water. Someone else can be seen desperately trying to hold a large glass door shut as water surges in, presumably from a flooded patio or balcony.  Drake captioned the video with a touch of humor: “This better be espresso martini.”

The extent of the damage to the mansion remains unclear at this time.

 

Historic Rainfall Causes Citywide Flooding

The flooding at Drake’s mansion was just one symptom of the unprecedented rainfall that lashed Toronto on Tuesday. The city saw over 100 millimeters of rain in a single day, easily surpassing the average rainfall for the entire month of July (71.6 mm). This deluge makes it the fifth-wettest day ever recorded in Toronto’s history.

The heavy downpour overwhelmed the city’s drainage systems, leading to widespread flooding across neighborhoods. Emergency services were inundated with over 700 calls reporting flooded basements.  A major artery, the Don Valley Parkway, became an impassable waterway, with cars submerged almost entirely and some drivers forced to wait for rescue on the roofs of their vehicles.

 

Toronto Cleans Up After the Storm

As of Wednesday morning, the city is in cleanup mode.  Emergency crews are working to clear debris and assess the damage caused by the floods.  The extent of the financial losses incurred by homeowners and businesses is still being determined.

While Drake’s mansion may have gotten an unwelcome soaking, the true story of this weather event lies in the impact it had on ordinary citizens across Toronto. The city is now focused on recovery efforts and ensuring the safety and well-being of its residents.

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Ryan Reynolds BLEEDS for Deadpool! Sacrificed Salary to Keep Franchise Alive!

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Marvel fans, rejoice! After a whirlwind journey filled with setbacks and triumphs, Deadpool & Wolverine is finally clawing its way onto the silver screen. This highly anticipated pairing of Ryan Reynolds and Hugh Jackman has had its fair share of challenges, from production delays due to Hollywood strikes to struggling to solidify a cohesive storyline. But through it all, Reynolds’ unwavering dedication to the project has shone through, proving that sometimes, the biggest victories come from the most unexpected sacrifices.

The road to Deadpool & Wolverine began in May 2023 with a triumphant start to filming. However, that momentum was abruptly halted by a wave of strikes that swept through Hollywood, forcing a hiatus until late winter. This wasn’t the only obstacle the project faced. The creative team, including Reynolds himself, wrestled with crafting a narrative that lived up to the outrageous charm of the Deadpool character while seamlessly integrating Wolverine into the fold. There were even whispers of the entire project being shelved altogether, leaving fans anxious about the fate of this dream team.

 

Reynolds’ Pockets Take a Hit, But His Vision Persists

But amidst these uncertainties, a heartwarming detail recently emerged, shedding light on Reynolds’ incredible commitment to the Deadpool franchise. In a revealing interview with The New York Times, Reynolds opened up about the financial sacrifices he made to ensure the success of the original Deadpool film.

“Deadpool wasn’t just a movie; it was a decade-long passion project,” Reynolds confessed. “Honestly, when they finally greenlit it, I wasn’t thinking about box office numbers. I just wanted to see this crazy character come to life on screen. I even gave up my acting salary for the project just to get it off the ground.”

 

However, Reynolds’ generosity didn’t stop there. The studio, it seemed, wasn’t convinced of the importance of having the film’s screenwriters, Rhett Reese and Paul Wernick, readily available on set. “They wouldn’t allow my co-writers on set, which was a huge blow,” Reynolds continued. “So, I took what little money I had left after forgoing my salary and paid them myself to be there. We basically formed a makeshift writer’s room right there on set.”

This wasn’t the first instance of Reynolds’ financial commitment to the Deadpool universe. Writers Reese and Wernick had previously shared on the AMC show Geeking Out that Reynolds also personally financed aspects of Deadpool (2016) to ensure the film achieved the level of quality he envisioned.

 

A Commitment That Reaps Rewards

 

Looking back on the original film’s scrappy beginnings, Reynolds described it as a labor of love fueled by limited resources and boundless creativity. “There wasn’t a lot of money, but I poured my heart and soul into every detail,” he said. “That experience taught me a valuable lesson: the importance of having a strong creative team by your side, no matter the project.”

Reynolds’ unwavering dedication wasn’t just about financial backing; it was about safeguarding the film’s creative vision. His actions ensured that the core team behind Deadpool’s success – the writers, the director, and himself – remained on board to bring their vision to life. This commitment is sure to translate into Deadpool & Wolverine, a film that promises to be a landmark achievement in the wacky world of Deadpool. Mark your calendars, fans – Deadpool & Wolverine slashes into theaters on July 26th!

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Bob Newhart, deadpan comedy icon Dies at 94

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Bob Newhart, the deadpan accountant-turned-comedian who became one of the most popular TV stars of his time after striking gold with a classic comedy album, has died at 94.

Jerry Digney, Newhart’s publicist, says the actor died Thursday in Los Angeles after a series of short illnesses.

Newhart, best remembered now as the star of two hit television shows of the 1970s and 1980s that bore his name, launched his career as a standup comic in the late 1950s. He gained nationwide fame when his routine was captured on vinyl in 1960 as The Button-Down Mind of Bob Newhart, which went on to win a Grammy Award as Album of the Year.

While other comedians of the time, including Lenny Bruce, Mort Sahl, Alan King, and Mike Nichols and Elaine May, frequently got laughs with their aggressive attacks on modern mores, Newhart was an anomaly. His outlook was modern, but he rarely raised his voice above a hesitant, almost stammering delivery. His only prop was a telephone, used to pretend to hold a conversation with someone on the other end of the line.

In one memorable skit, he portrayed a Madison Avenue image-maker trying to instruct Abraham Lincoln on how to improve the Gettysburg Address: “Say 87 years ago instead of fourscore and seven,” he advised.

Another favorite was Merchandising the Wright Brothers, in which he tried to persuade the aviation pioneers to start an airline, although he acknowledged the distance of their maiden flight could limit them. “Well, see, that’s going to hurt our time to the Coast if we’ve got to land every 105 feet.”

Newhart was initially wary of signing on to a weekly TV series, fearing it would overexpose his material. Nevertheless, he accepted an attractive offer from NBC, and The Bob Newhart Show premiered on Oct. 11, 1961. Despite Emmy and Peabody awards, the half-hour variety show was canceled after one season, a source for jokes by Newhart for decades after.

He waited 10 years before undertaking another Bob Newhart Show in 1972. This one was a situation comedy with Newhart playing a Chicago psychologist living in a penthouse with his schoolteacher wife, Suzanne Pleshette. Their neighbors and his patients, notably Bill Daily as an airline navigator, were a wacky, neurotic bunch who provided an ideal counterpoint to Newhart’s deadpan commentary. The series, one of the most acclaimed of the 1970s, ran through 1978.

Four years later, the comedian launched another show, simply called Newhart. This time he was a successful New York writer who decides to reopen a long-closed Vermont inn. Again Newhart was the calm, reasonable man surrounded by a group of eccentric locals. Again the show was a huge hit, lasting eight seasons on CBS. It bowed out in memorable style in 1990 with Newhart — in his old Chicago psychologist character — waking up in bed with Pleshette, cringing as he tells her about the strange dream he had: “I was an innkeeper in this crazy little town in Vermont. … The handyman kept missing the point of things, and then there were these three woodsmen, but only one of them talked!” The stunt parodied a Dallas episode where a key character was killed off, then revived when the death was revealed to have been in a dream.

Two later series were comparative duds: Bob, in 1992-93, and George & Leo, 1997-98. Though nominated several times, he never won an Emmy for his sitcom work. “I guess they think I’m not acting. That it’s just Bob being Bob,” he sighed.

Over the years, Newhart also appeared in several movies, usually in comedic roles. Among them: Catch 22, In & Out, Legally Blonde 2, and Elf, as the diminutive dad of adopted full-size son Will Ferrell. More recent work included Horrible Bosses and the TV series The Librarians, The Big Bang Theory, and Young Sheldon.

Newhart married Virginia Quinn, known to friends as Ginny, in 1964, and remained with her until her death in 2023. They had four children: Robert, Timothy, Jennifer, and Courtney. Newhart was a frequent guest of Johnny Carson’s and liked to tease the thrice-divorced Tonight host that at least some comedians enjoyed long-term marriages. He was especially close with fellow comedian and family man Don Rickles, whose raucous insult humor clashed memorably with Newhart’s droll understatement.

“We’re apples and oranges. I’m a Jew, he’s a Catholic. He’s low-key, I’m a yeller,” Rickles told Variety in 2012. A decade later, Judd Apatow would pay tribute to their friendship in the short documentary Bob and Don: A Love Story.

A master of the gently sarcastic remark, Newhart got into comedy after he became bored with his $5-an-hour accounting job in Chicago. To pass the time, he and a friend, Ed Gallagher, began making funny phone calls to each other. Eventually, they decided to record them as comedy routines and sell them to radio stations.

Their efforts failed, but the records came to the attention of Warner Bros., which signed Newhart to a record contract and booked him into a Houston club in February 1960. “A terrified 30-year-old man walked out on the stage and played his first nightclub,” he recalled in 2003.

Six of his routines were recorded during his two-week date, and the album, The Button-Down Mind of Bob Newhart, was released on April Fools’ Day 1960. It sold 750,000 copies and was followed by The Button-Down Mind Strikes Back!. At one point the albums ranked No. 1 and 2 on the sales charts. The New York Times in 1960 said he was “the first comedian in history to come to prominence through a recording.”

Besides winning Grammy’s Album of the Year for his debut, Newhart won as Best New Artist of 1960, and the sequel The Button-Down Mind Strikes Back! won as Best Comedy Spoken Word Album. Newhart was booked for several appearances on The Ed Sullivan Show and at nightclubs, concert halls, and college campuses across the country. He hated the clubs, however, because of the heckling drunks they attracted. “Every time I have to step out of a scene and put one of those birds in his place, it kills the routine,” he said in 1960.

In 2004, he received another Emmy nomination, this time as Guest Actor in a Drama Series, for a role in E.R. Another honor came his way in 2007, when the Library of Congress announced it had added The Button-Down Mind of Bob Newhart to its registry of historically significant sound recordings. Just 25 recordings are added each year to the registry, which was created in 2000.

Newhart made the best-seller lists in 2006 with his memoir, I Shouldn’t Even Be Doing This!. He was nominated for another Grammy for Best Spoken Word Album (a category that includes audio books) for his reading of the book.

“I’ve always likened what I do to the man who is convinced that he is the last sane man on Earth … the Paul Revere of psychotics running through the town and yelling `This is crazy.′ But no one pays attention to him,” Newhart wrote.

Born George Robert Newhart in Chicago to a German-Irish family, he was called Bob to avoid confusion with his father, who was also named George. At St. Ignatius High School and Loyola University in Chicago, he amused fellow students with imitations of James Cagney, Humphrey Bogart, Jimmy Durante, and other stars. After receiving a degree in commerce, Newhart served two years in the Army. Returning to Chicago after his military service, he entered law school at Loyola, but flunked out. He eventually landed a job as an accountant for the state unemployment department. Bored with the work, he spent his free hours acting at a stock company in suburban Oak Park, an experience that led to the phone bits.

“I wasn’t part of some comic cabal,” Newhart wrote in his memoir. “Mike (Nichols) and Elaine (May), Shelley (Berman), Lenny Bruce, Johnny Winters, Mort Sahl — we didn’t all get together and say, Let’s change comedy and slow it down.′ It was just our way of finding humor. The college kids would hear mother-in-law jokes and say, What the hell is a mother-in-law?′ What we did reflected our lives and related to theirs.”

Newhart continued appearing on television occasionally after his fourth sitcom ended and vowed in 2003 that he would work as long as he could. “It’s been so much, 43 years of my life; (to quit) would be like something was missing,” he said.

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