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Digiday Dealbook: Shaky Q2 earnings, the Twitter deal drags on, publishers shrink staff and much more

August 1, 2022 | By Carly Weihe

Ivy Liu

Welcome to Digidays DealBook. Our focus would be to create a fast and simple rundown of the deals, acquisitions and hires that occurred last week. The target is to inform and update you on the most recent happenings in the market near the top of your inbox each Monday. Carly Weihe

  • As Q2 earnings rolled out the other day, it had been clear that some major platforms struggled to execute amid growing economic uncertainty. Snap, Twitter and Meta fared worse than Google, which maintained its quarterly projections.
  • Twitter has announced it has a shareholders meeting to approve Elon Musks acquisition of the business, regardless of the ongoing lawsuit between your two parties. The meeting of the shareholders will undoubtedly be live streamed on Sept. 13, per month prior to the official lawsuit is scheduled to begin with in Delaware in October. While Musk has decided to the Twitter lawsuit beginning on Oct. 17, sooner than expected, some are skeptical he will attempt to delay the lawsuit further.
  • Shopify and Vox Media both announced they’ll be laying off some of these staff following Q2 earnings and economic uncertainty. Shopify will lay off 10% of its workforce, while Vox will lay off 2%.
  • Ad-tech company Tremor International acquired Amobee for $239 million. The offer includes Amobees omnichannel DSP platform and can help Tremor expand globally.
  • MTV announced a fresh Best Metaverse Performance category because of its 2022 Video Music Award. The move marks the continued shift of pop culture in to the metaverse.
  • Trailer Park Group, an entertainment and marketing company, announced the launch of Mutiny, a fresh gaming agency. The brand new agency will further the companys growth in the gaming and esports space.

Digiday Dealbook: Shaky Q2 earnings, the Twitter deal drags on, publishers shrink staff and more

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