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Jim Cramer: I Don’t Know How Elon Musk Gets Out of Not Buying Twitter

Cramer stated on CNBC’s “Squawk on the Street” that Musk is “stuck” buying Twitter and won’t be able to get out of his agreement.

Eduardo Razo

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Twitter will push to enforce a merger agreement that would force Elon Musk to purchase the social media company for $44-billion. The Tesla CEO recently said a deal could not move forward without “proof” of a fake account estimate.  

While Musk prepares to fight this, CNBC host Jim Cramer stated on CNBC’s “Squawk on the Street” that the entrepreneur is “stuck” and won’t be able to get out of his agreement. 

“Elon Musk had a lot of time at the company, spent three days here apparently looking at things. There is a clause called specific performance where they can force him to take it. And I don’t know how he gets out of it. I don’t know how he does not buy it. I mean, how they can’t force it,” Cramer said, per Mediaite.

Cramer added that unless Musk discloses “out-and-out fraud,” the company can enforce the deal. Also, the host also went on Twitter to further emphasize that he cannot see how the Telse CEO gets out of this agreement. 

“I guess maybe they can renegotiate something, but that’s the contract’s $54.20. And he agreed to that. And unless you’re some sort of out-and-out fraud, which no one has found, my understanding,” Cramer said.

“No fraud found. He owns it. He owns it. And he’s got to point to some fraud, some material adverse change, even in the period since he signed, of which there isn’t any. And I think he’s stuck! I think he’s hung! I don’t know. He, he’s, some of the tweets are at odd hours. I don’t know if you’ve noticed.”

News Television

CNN Asks Florida Judge to Toss Out Donald Trump’s Defamation Suit

Trump filed the lawsuit against CNN because he accuses the network of defaming his character during the 2020 Presidential Election.

Eduardo Razo

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Former President Donald Trump filed a lawsuit against CNN in October; now, over a month later, the cable news channel is asking a judge in Florida to toss the case (h/t The Hill).

Trump filed the lawsuit against CNN because he accuses the network of defaming his character during the 2020 Presidential Election. Trump’s attorneys argued CNN “has sought to use its massive influence — purportedly as a ‘trusted’ news source.”

Additionally, Trump’s lawyer says that CNN attempted “to defame the Plaintiff in the minds of its viewers and readers for the purpose of defeating him politically, culminating in CNN claiming credit for ‘[getting] Trump out’ in the 2020 presidential election.”

CNN lawyers have pushed back against Trump’s claims saying that the former president “seeks to silence any criticism of Plaintiff’s debunked claim that the 2020 presidential election was ‘stolen.’”

“Any alleged association resulting therefrom are also ‘rhetorical hyperbole’ and ‘pure opinion’ under well-established principles of defamation law,” CNN’s lawyers added.

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News Television

Investor Cautions Over Possible Fox-News Corp. Merger

Irenic Capital, which owns about 2 percent of News Corp., has taken issue with its potential merger between Fox and News Corp.

Eduardo Razo

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Rumors have swirled over Fox and News Corp. possibly merging into one entity, but Irenic Capital, which owns about 2% of News Corp., has taken issue with its potential merger.

A merger would produce a more complicated company and turn off investors rather than increase the company’s lagging stock price, Irenic Capital stated in a letter to the News Corp. board.

“And even if such synergies do exist today, they would principally benefit Fox and reside in the News Media segment of News Corp,” Irenic Capital said (h/t Deadline). “For example, Fox Business may benefit from greater integration with The Wall Street Journal and some of Dow Jones’ other properties, but it is highly debatable whether the benefits from such an association flow both ways.

“Combining News Corp with Fox will result in a combined company that is obviously more complex than both companies left separate.” 

Irenic believes a unification would aid Fox far better than News Corp. and cautioned that the board has a fiduciary responsibility to investigate all possible routes to develop value beyond the one suggested by its primary shareholder.

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News Television

Fox News Lights All-American Christmas Tree

The event was hosted by Greg Gutfeld, Judge Jeanine Pirro, Dana Perino, Jessica Tarlov and Jesse Watters

Ryan Hedrick

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Fox News held its annual All-American Tree Lighting at FOX Square in New York, New York Monday during “The Five.” The event was hosted by Greg Gutfeld, Judge Jeanine Pirro, Dana Perino, Jessica Tarlov and Jesse Watters

In a release, the network said it partnered with the Police Athletic League (PAL) to host a toy drive benefiting New York City’s youth. The network also honored first responders by selecting representatives of the FDNY and NYPD to light this year’s tree.

Guests included FOX News personalities and their families along with first responders from the NYPD and FDNY, including members of NYPD Precinct 32, who lost Wilbert Mora and Jason Rivera this year, and members of EMS Station 49, who lost EMS captain Alison Russo earlier this year.

FOX’s All-American Christmas tree stands at 50 feet tall and is adorned by 12,000 ornaments and 340,000 lights. The tree has 500 branches, a star topper that is over six feet tall and more than four miles of cord wrapped throughout.  Made in America, the tree features a patriotic theme of red, white, and blue decorations.

“After a busy year in America, it’s nice to, let’s just take a step back and celebrate traditions like this and remember how important it is to come together and focus on what truly matters,” said co-host Dana Perino. “This tree is not just for us to enjoy. We want you watching at home to be able to come here and make Christmas memories with your family and friends and of course, your pets, too, of course, as you can imagine.”

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