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Investors Giving $7B More to Elon Musk for Twitter Takeover

Furthermore, the entrepreneur is reportedly discussing with Twitter founder Jack Dorsey regarding sticking around as part owner.

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A couple of weeks ago, Elon Musk made headlines as his takeover of Twitter became official. The Tesla CEO purchased the social media company for $44-billion, and now Deadline reports the group of investors ready to help Musk. 

The report states that the investors will provide about $7.14 billion in financing commitments for Musk’s acquisition of Twitter. Furthermore, the entrepreneur is reportedly discussing with Twitter founder Jack Dorsey regarding sticking around as part owner.

Along with Dorsey, Musk is also having ongoing talks with other Twitter stockholders about the possibility of their contributing shares of common stock to retain an equity investment following the merger.

The 18 investors have pivoted the complexion of Musk’s initial financing, which included a debt commitment letter from Morgan Stanley and other senior organizations for an aggregate total of $12.5 billion in margin loans.

The billionaire had originally raised $21 billion to finance his proposal, with the deal expected to close this year.

Here’s the list of investors/equity commitments include:

A.M. Management & Consulting $25,000,000

AH Capital Management, L.L.C. (a16z) $400,000,000

Aliya Capital Partners LLC $360,000,000

BAMCO, Inc. (Baron) $100,000,000

Binance $500,000,000

Brookfield $250,000,000

DFJ Growth IV Partners, LLC $100,000,000

Fidelity Management & Research Company LLC $316,139,386

Honeycomb Asset Management LP $5,000,000

Key Wealth Advisors LLC $30,000,000

Lawrence J. Ellison Revocable Trust $1,000,000,000

Litani Ventures $25,000,000

Qatar Holding LLC $375,000,000

Sequoia Capital Fund, L.P. $800,000,000

Strauss Capital LLC $150,000,000

Tresser Blvd 402 LLC (Cartenna) $8,500,000

VyCapital $700,000,000

Witkoff Capital $100,000,000

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Report: Layoffs of CNN+ Staffers Has Begun

Approximately 23 staffers in CNN’s Hudson Yards offices were notified that their positions were being eliminated.

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It’s been nearly a month since CNN decided to pull the plug on its streaming service CNN+ and while many were hired to help with the production of the various shows, now they’re being laid off.

TV Newser reports that the cable news channel began laying off affected staffers on Tuesday. The outlet adds that there’s no concrete number of people who won’t be working at CNN.

However, approximately 23 staffers in CNN’s Hudson Yards offices were notified that their positions were being eliminated. Furthermore, another source confirmed to the outlet that layoffs had occurred. 

Despite laying off some staffers, the company is still trying to place those impacted CNN+ employees in other positions around CNN and Warner Bros. Discovery.

When the network announced it was pulling the plug, CNN Worldwide chairman and CEO Chris Licht said in an internal memo that they would continue to receive pay for 90 days and benefits along with helping them find opportunities within the company. 

“All CNN+ employees will continue to be paid and receive benefits for the next 90 days to explore opportunities at CNN, CNN Digital, and elsewhere in the Warner Bros. Discovery family,” Licht said. 

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Insider Editor Stands By Sexual Harassment Accusation Story on Elon Musk

The accusation was made by an unnamed source, a friend of the flight attendant, in the Business Insider story, but Carlson said the allegation fulfilled the outlet’s criteria for publishing. 

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Tesla CEO Elon Musk is going on the offensive following the Insider report alleging the entrepreneur sexually harassed a flight attendant on a SpaceX corporate jet in 2016. 

He’s going after the media outlet, but Insider’s global editor-in-chief Nicholas Carlson is standing by his team’s reporting. 

The accusation was made by an unnamed source, a friend of the flight attendant, in the Business Insider story, but Carlson said the allegation fulfilled the outlet’s criteria for publishing. 

“Anytime you have a very powerful man and there are credible accusations that he’s done something wrong the way that he was accused of doing in this story,” Carlson said on CNN. “That’s absolutely and sort of obviously newsworthy.”

Musk touched on the fact that he has never been accused of anything, even during the MeToo movement, but the allegation surfaced as soon as he attempted to purchase Twitter to restore free speech. 

“They began brewing attacks of all kinds as soon as the Twitter acquisition was announced,” Musk tweeted Friday. “In my 30-year career, including the entire MeToo era, there’s nothing to report, but, as soon as I say I intend to restore free speech to Twitter & vote Republican, suddenly there is …”

Carlson stated Insider reporters asked Musk’s team for comment on the allegations before the Tesla CEO went to Twitter to offer his remarks. Furthermore, Carlson adds that the news media outlet has yet to face any legal matters due to the story. 

“I reached out to him personally a few times,” Carlson added. “[I] said come talk to us; we want to hear from you.” Musk declined Insider’s offer to grant him more time to respond.”

“We are prepared to defend the story vigorously. It’s the truth that we stand by our story, which is based on documents and interviews. It speaks for itself.”

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Lulu Garcia-Navarro to Host Opinion Podcast for NY Times

“When a lot of us hear the word “opinion” we think of hot takes — points of view in reaction to the news. But what about the experiences that shape our opinions?” The Times said in a press release. 

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New York Times

The New York Times will have a new opinion podcast coming out soon called “First Person.” The company announced that Peabody Award-winning journalist Lulu Garcia-Navarro will host this new show beginning June 9th. 

“When a lot of us hear the word “opinion” we think of hot takes — points of view in reaction to the news. But what about the experiences that shape our opinions?” The Times said in a press release

“That’s the question we’re exploring in “First Person,” a new podcast from New York Times Opinion with Lulu Garcia-Navarro. In each episode, Lulu sits down with people living through the headlines for intimate and surprising conversations that help us make sense of our complicated world.”

Garcia-Navarro will bring plenty of experience to her new podcast as a two-time Peabody Award-winning journalist with years of interviewing world leaders, authors, artists, and people living on the front lines of a changing world.

“This show is a new way of understanding where people’s opinions come from. It’s urgent and intimate and takes someone who is living through something incredible and asks them how they came to believe what they believe,” Garcia-Navarro said per Radio Ink

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