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Digiday DealBook: Truth Social acquisition extended, Lyfts new media division, Axios bought by Cox and much more

August 15, 2022 | By Carly Weihe

Illustration of a puzzle that spells out the word 'media.'

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

  • If Twitter reveals the amount of bot accounts it has, Elon Musk says he’ll progress with acquiring the business. Twitter still maintains that only 5% of its accounts are fake and didn’t comment following Musks statement. In anticipation of the offer, Musk sold nearly $7 billion worth of Tesla shares to finance the offer.
  • Digital World Acquisition Corp. announced an extension of the merger between your company and Truth Social after U.S. regulators began investigating the business. The initial termination date of the union was on September 8th, however now the business hopes to increase it for another 12 months.
  • Lyft has generated a fresh media division, Lyft Media, to expand its advertising offerings within the app. In its continued effort to contend with Uber, this new division comes per year following the company acquired Halo Cars Inc., making ad monitors along with cars.
  • Lionsgate Media paid $191.4 million to get a part of Spyglass Medias library and a stake in the business. The deal was inked in 2021, giving Lionsgate 200 films and an 18.4% stake in the business.
  • Cox Enterprises bought Axios for $525 million earlier this week. Cox Enterprises will never be acquiring Axios HQ, an AI-based service that synopsizes company emails, which Axios will spin out HQ right into a different company.
  • Twitter is testing an edit function for Tweets, nonetheless it may only be accessible to Twitter Blue exclusive members. Twitter have not announced when it’ll release this function.
  • ESPN is reportedly out of talks for the illusive rights of Big 10 media rights for the 2023-2034 year. This exit leaves CBS, NBC, and Fox News the three outlets with coverage for the next year.
  • Phenomenal Media acquired an electronic satirical magazine for women, Reductress. This acquisition increases Phenomenals catalog of media centered on women and underrepresented communities.

Digiday DealBook: Truth Social acquisition extended, Lyft’s new media division, Axios bought by Cox and more

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