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Media Trouble Doesn't Explain The Messenger's Cruel Layoffs – POLITICO – POLITICO

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Jimmy Finkelstein hastily built a rocket ship he named The Messenger, boarded a staff of 300 promising the moon, lit the fuse and then slunk away when it didn’t even reach orbit.
The wreckage is considerable
. Finkelstein and team, which had recruited experienced journalists from jobs at POLITICO, the New York Post, the Los Angeles Times, NBC News, Reuters and elsewhere, made no effort to rescue or aid the crew.
No severance
offered after their short-notice layoffs. No last rites. The only trace of the site that remains is
a dead page
reading “TheMessenger.” and an email address. Reporters learned they were being thrown into unemployment by reading the New York Times rather than a note from management.

Finkelstein is being drawn as a villain in the disaster. Former staffers have already shaken off the reentry dust and
filed a class action suit
against the busted publication for failing to provide notice of dismissal. Critics like S. Mitra Kalita of
URL media
have
succinctly accused Finkelstein
of erecting The Messenger on the “expertise of an internet that no longer exists,” as she told The New York Times, adding, “Facebook was not going to surface its links no matter how clickable those headlines were.”

Coming as it did with a recent wave of news business
layoffs and cutbacks
, the crash of The Messenger amplified the pessimism now sweeping through newsrooms. But it would be a mistake to blend The Messenger’s dark story into the ongoing drama without making a few amendments. The first would be that owing to self-interest, the news business over-reports layoffs and collapses in its own sector and underreports job losses elsewhere. On Thursday,
The Washington Post
and the rest of the press filed stories about the Wall Street Journal laying off 20 staffers in its D.C. bureau. We all sympathize, but would this have made the news if similarly sized businesses cut 20 people? Not all layoffs portend the end of the world. Sometimes layoffs arrive when a new editor — the
Wall Street Journal just got one
— makes decisions her predecessor wouldn’t. Nobody, not even experienced and talented journalists who have mortgages and medical bills, is owed a job.

The
news business faces a dire future
. But the industry contraction we’ve read so much about recently wasn’t a direct cause of The Messenger’s demise. And while Finkelstein’s treatment of his employees may have been brutal at the end, he was arguably just as callous at the start by making promises he could never fulfill. The Messenger’s fall has so many causes beyond the one cited by Kalita that we need a more wide-ranging post-mortem if we hope to learn anything about it.

First and foremost, Finkelstein committed an act of business daredevilry when he entered a market already clogged with competitors — including but not limited to POLITICO, The Hill, Roll Call, Axios, Punchbowl News, Bloomberg News, the dailies, the networks, opinion magazines like The New Republic, newsletters and the various trade press outlets. Naysayers asserted that The Messenger couldn’t clear that logjam to be heard, but that view was common coin when The Hill challenged Roll Call, when POLITICO challenged the two of them, when POLITICO honchos broke away to form Axios, when POLITICO stalwarts launched Punchbowl News, and as former POLITICO owner
Robert Allbritton has just started NOTUS
. The Messenger’s death indicates that absent some editor inventing a major new wrinkle, Washington news has peaked. There are no discernable vacancies.

Finkelstein knew plenty about running a Washington publication, having helped found
The Hill in 1994
and selling it in 2021
for $130 million
. Why shouldn’t he be able to do it again? But being a daredevil this time around, Finkelstein made outrageous lunar promises at launch time. He promised to hire 550 journalists in the first year. He didn’t. The publication predicted it would make $50 million in revenue in its first year. It made only $3 million. And lost $38 million of its initial $50 million funding, according to the New York Times.

By nature, I’m not a grave dancer. Even the failure of bad publications — which The Messenger was not — saddens me. Because starting a new publication is more difficult than reaching the moon, I avoided criticizing The Messenger because I considered the first nine months of any publication the equivalent of an off-Broadway tryout: Parts are rewritten. Actors are dismissed and hired. Overtures are added. Costumes are redesigned. The Messenger showed all the signs of working out its kinks to become a solid publication. Valuable journalism resided there, even if, like many other publications, The Messenger often overhyped its findings. But now that it’s gone, it’s easy to agree that Finkelstein overpromised and underdelivered as wildly as a Silicon Valley startup that promises a world-changing gadget or piece of software but then delivers only vapor.

The most painful of the many lessons taught by The Messenger has got to be that the journalists it hired — cynical show-me types who see through the gas spouted by Washington politicians — didn’t sense the stench in Finkelstein’s. I would love to claim that nine months ago, I thought Finkelstein was full of it. But honestly, at the time, his emissions smelled like Chanel No. 5 to me.

******

Or maybe crushed violets. Send scents to
[email protected]
. No new email alert subscriptions are being honored at this time. My
Twitter
and
Threads
accounts are facing layoffs. My RSS feed stinks of death.

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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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