Elon Musk Acquiring Twitter for $44 Billion

Twitter April 25 announced that it has entered into a definitive agreement to be acquired by an entity wholly owned by Elon Musk, for $54.20 per share in cash in a transaction valued at approximately $44 billion.

Musk, who owns the Tesla car company, among other assets, is paying for the transaction through a secured $25.5 billion of fully committed debt and margin loan financing, and is providing an approximately $21 billion equity
commitment. There are no financing conditions to the closing of the transaction.

Upon completion of the transaction, Twitter will become a privately held company. Under the terms of the agreement, Twitter stockholders will receive $54.20 in cash for each share of Twitter common stock that they own upon closing of the proposed transaction.

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The purchase price represents a 38% premium to Twitter’s closing stock price on April 1, 2022, which was the last trading day before Mr. Musk disclosed his approximately 9% stake in Twitter.

“The proposed transaction will deliver a substantial cash premium, and we believe it is the best path forward for Twitter’s stockholders,” Bret Taylor, Twitter’s Independent Board Chair, said in a statement.

Musk said the transaction underscores free speech as a bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated.

“I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spam bots, and authenticating all humans,” Musk said. “Twitter has tremendous potential — I look forward to working with the company and the community of users to unlock it.”

The transaction, which has been unanimously approved by the Twitter Board of Directors, is expected to close in 2022, subject to the approval of Twitter stockholders, the receipt of applicable regulatory approvals and the satisfaction of other customary closing conditions.

Twitter Reportedly Close to Accepting Elon Musk’s $43 Billion Acquisition Offer

Social media platform Twitter is reportedly finalizing a deal that would see Tesla founder and world’s richest man Elon Musk acquire the company for $43 billion in cash. Several media reports — citing sources familiar with the situation — say the transaction, which would make Twitter a privately held platform, is in the final stages as participants iron out details. However, the transaction could still fall through.

Musk April 14 announced an unsolicited offer to acquire Twitter, which prompted the platform’s board to enact a “poison pill” anti-takeover stance that would make the deal prohibitively expensive — even for Musk. Last week, Musk announced he had secured in excess of $46 billion in funding for the deal — prompting the Twitter board to reconsider a deal that values the company’s stock at a 12.5% premium.

Musk wants to lift existing limitations on Twitter, including provisions that currently exclude former President Donald Trump and others from using the platform.

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“I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy,” Musk said in a statement earlier this month. “However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company.”

Elon Musk Offers to Buy Twitter for $43 Billion in Hostile Takeover

Social media giant Twitter April 14 confirmed it has received an unsolicited, non-binding proposal from entrepreneur and Tesla founder Elon Musk to acquire all of the company’s outstanding common stock for $54.20 per share in cash, or $43 billion — a 12.5% premium on Twitter’s market capitalization.

“I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy,” Musk said in a statement. “However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company.”

Twitter said its board of directors would review the proposal to determine the course of action that it believes is in the best interest of the company and all of its stockholders.

The move comes after Musk, who owns 9% of Twitter’s shares, declined to join the platform’s board.

Twitter has 186 million daily active users and 38 million users in the U.S. The platform generated a net loss of $1.1 billion on revenue of $3.7 billion revenue in 2020.

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Netflix Launches Social Media Channel Celebrating Pan-Asian Diaspora

Netflix has launched Golden, a new social media channel dedicated to celebrating the pan-Asian diaspora.

The new @NetflixGolden channels are on Instagram and Twitter and will celebrate Netflix’s pan-Asian talent both in front of and behind the camera.

The channels will also feature new episodes from the social series “Spill the Boba Tea,” a collaboration with Wong Fu Productions, where co-founder Philip Wang will chat with Netflix stars while crafting unique boba tea drinks based on the stars’ lives. The new episode featuring “Emily in Paris” star Ashley Park, debuts Jan. 27 on the @NetflixGolden Instagram channel.

Golden joins Netflix’s other audience-focused and genre channels including Strong Black Lead, Netflix Film, Con Todo, Geeked, Netflix Is a Joke and Most. The name Golden, was inspired by the phrase “Real gold will always shine” and that all Asian stories are golden, and if given the opportunity, they will shine, according to Lucie Zhang, manager of Netflix Golden.

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“As a first-generation Chinese-American growing up in the Midwest, I rarely saw individuals who looked like me in American media, but also felt disconnected from the stars I saw in the Chinese soap dramas my mom binged,” Zhang said in a blog post. “For me, being a part of the diaspora means existing in between cultures — and often feeling like you don’t belong fully in either. With Golden, we want to give the Asian diaspora community a way to feel more connected to each other’s cultures and their own by celebrating Asian talent, storytelling and artistry on Netflix.”

 

Paramount+ to Host Twitter Watch Parties

ViacomCBS Nov. 10 announced a new multiyear global agreement to deliver digital content to Twitter, including brands BET, CBS Television Network, CBS News, CBS Sports, Channel 5, CMT, Comedy Central, MTV, Network 10, Nickelodeon, Paramount Network and Telefe.

Subscription streaming/ad-supported platform Paramount+ will also host Twitter Watch Parties, designed to bring users together, fuel conversation and build community around select original series.

“Twitter is the digital water cooler for trending topics and fandom worldwide, and we’re excited to provide front-row access to innovative digital content experiences and culture-defining moments across the best of entertainment, news and sports for users everywhere,” Andrea Wolinetz, SVP of distribution, business development and streaming at ViacomCBS, said in a statement.

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Each of the programs will be eligible for Twitter marketing support and brand sponsorship sales rights, which marries ViacomCBS’s video with Twitter’s paid content and the social media platform’s reach and targeting. ViacomCBS will also tap into a broad range of Twitter marketing features from live video and real-time highlights to Twitter Moments.

Most recently, Twitter and ViacomCBS partnered on the 2021 MTV Video Music Awards and “BET Awards,” bringing content to Twitter. The 2021 “BET Awards” red carpet was live streamed on Twitter, hosted by DJ Envy. For the 2021 VMAs, the live pre-show was hosted on Twitter, and the #VMAStanCam was back for the second time, putting fans in the driver’s seat and giving them the power to choose the behind-the-scenes and close-up moments they wanted to see.

MTV and Twitter also teamed up on the launch of #VMAStanMail, a first-of-its-kind on-site activation, designed for global inclusivity, that enabled artists to experience Tweets in any language.

“Through highlights, Twitter Moments, innovative formats and Paramount+ watch parties, Twitter will put users at the center of the biggest moments happening around the world,” said Jennifer Prince, head of global content partnerships, Twitter.

Road Trip Movie ‘Zola’ Arrives on Blu-ray and DVD Sept. 14

Lionsgate will release the road trip comedy Zola on Blu-ray Disc and DVD Sept. 14.

Based on the viral 148-tweet Twitter thread from Detroit waitress A’Ziah “Zola” King about her wild road trip to Florida, Zola stars Taylour Paige, Riley Keough, Ari’el Stachel and Colman Domingo.

Seduced into a weekend of partying in Florida, Zola’s trip turns into a wild saga involving a pimp, an idiot boyfriend and Tampa’s finest strip clubs.

Extras include audio commentary with writer-director Janicza Bravo and editor Joi McMillon; deleted scenes with optional commentary; and a “Y’all Wanna Hear a Story: Making Zola” featurette.

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NFL, Twitter Expand Social Media Distribution

The National Football League (NFL) and Twitter have announced a multiyear partnership extension, which will include expanded engagement formats and a full-season commitment to produce exclusive content on Twitter Spaces, Twitter’s new live-audio feature. Twitter will also continue to be a home for the games’ biggest moments — all the touchdowns, leaping catches, incredible runs, and celebrations after they happen, from season Kickoff to Super Bowl.

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The NFL is the first sports league to partner with Twitter to offer sponsored Twitter Spaces, giving both brands and fans new opportunities to connect and engage with live NFL audio. The NFL’s Twitter Spaces will be available throughout the season, as well as in conjunction with NFL tentpole events including Kickoff, Super Bowl, the NFL Draft and more. The Spaces will include participation from current NFL players and other NFL talent to discuss season matchups and insights.

The partnership will continue to engage fans each week of the season through:

  • New Highlight Offerings — Curated videos featuring recaps of the best touchdowns, highlights and Tweets each week of the season with first-of-its-kind opportunities for brands.
  • Expanded NFL Twitter Votes — Fans will be invited to vote each week on the hottest topics and takes burning through the NFL Twittersphere in an expanded set of Twitter Polls.
  • Providing Fans the Best Moments From Every Game — The NFL and its Clubs will bring the best moments from every game to the #NFLTwitter community through highlights, and on-field coverage and Twitter Moments.

 

“The commitment to Twitter Spaces represents another innovative step forward in the longstanding partnership between the NFL and Twitter,” Blake Stuchin, VP of digital media business development for the NFL, said in a statement.

Since announcing their first partnership agreement in 2013, the NFL has developed live programming and distributed on-demand content that takes advantage of Twitter’s unique features to appeal to its highly engaged audience.

Solved: The Case of the Mysterious HBO Max Email

It’s been an eventful week for WarnerMedia’s subscription streaming video platform HBO Max. The service June 18 reported downed service for about an hour throughout parts of the country.

“We’re aware some customers may be experiencing issues streaming #HBOMax and appreciate your patience as we work to resolve this as quickly as possible,” Max’s customer service tweeted.

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While streaming service interruptions are not uncommon and not unique to HBO Max, considering the labyrinth system of networks, routers and related third-party connections required to stream video into user homes, one particular issue stands out.

On June 17, many Max subscribers received a series of emails with the headline: “HBO Max Integration Test #1.” The body of the email read: “This template is used by integration tests only.”

Apparently enough subscribers received the strange email that Max responded via social media — with an explanation: The intern did it.

“We apologize for the inconvenience, as the jokes pile in, yes, it was the intern. No, really. And we’re helping them through it,” @HBOMaxHelp tweeted later — suggesting there may have been more than one culprit.

Regardless, social media embraced the snafu as either a great publicity stunt or predictable event in the information age. The tweet generated 156,000 “likes” and retweeted 10,900 times.

Numerous respondents shared similar tales of workplace embarrassment caused by personal blunders, including @Caissie, who remembered using a company-wide calendar to record personal information.

Another, @postcards4usa, posted the time they interned at the White House and tried to stop the VP from entering a Cabinet meeting.

“I once didn’t recognize then-VP George HW Bush and almost didn’t let him into a meeting … in the Cabinet Room. Of The White House. Where he worked. Woman shrugging He was actually as gracious as HBO Max Help appears to be being … you’ll be fine.”

 

 

Nielsen to Begin Tracking Twitter Users for Video Marketers

Nielsen and Twitter April 8 announced the integration of Nielsen’s audience measurement onto Twitter’s video ad platform. The pact includes new access to Nielsen Media Impact and Nielsen Ad Intel and expanded access to Nielsen Total Ad Ratings. Together, these tools will enable Twitter to help video advertisers plan, maximize ad inventory and understand cross-media faster.

Social media giant Twitter features audio and video tweets limited to 140 seconds. In 2012, more than 100 million users posted 340 million tweets a day on the platform, and the service handled an average of 1.6 billion search queries per day.

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Nielsen Media Impact is a cross-media planning software incorporating TV ratings and digital content ratings, among other data metrics. It helps advertisers find insights into their target audiences, their lifestyle and media preferences so they can create connections with those audiences.

As media consumption evolves alongside consumer demand and digital-first strategies drive greater desire for comparable metrics, the need for a single, cross-media currency is increasing.

“Nielsen’s cross-media suite will make it easier to augment our client’s video strategy and planning with premium video inventory and optimize audience reach and frequency alongside other top video platforms,” Doug Brodman, director of North America agency and platform solutions, said in a statement. “Ultimately, this expanded partnership brings increased transparency, clarity and value to Twitter’s video solutions for our agency partners and advertisers.”

Twitter will also use Nielsen’s legacy TV Ratings data for added insights of ad campaigns across platforms, including Twitter Amplify, a video ad platform that gives marketers pre-roll and sponsorship opportunities for premium video content.

“To compete in a fragmented ecosystem, publishers require tools that help them plan their cross-media media strategies efficiently as well as provide deeper analysis and more robust insights of an advertiser’s campaign across screens,” said Jay Nielsen, SVP of planning products for Nielsen. “Twitter’s use of [Nielsen software] levels the playing field and ensures they have the same metrics and tools as agencies and advertisers, facilitating alignment on a common goal and plan.”

NBCUniversal Expands Social Media Content Partnership With New Twitter Deal

NBCUniversal and Twitter Jan. 25 announced an agreement that would expand original content across the social media platform worldwide.

NBCUniversal offers trending news and video from myriad high-profile events such as “The Golden Globes,” “The People’s Choice Awards,” “The Macy’s Thanksgiving Day Parade” and Telemundo’s “Latin American Music Awards”; news on Noticias Telemundo;  and events on NBC Sports, Telemundo Deportes, Sky Sports and the Golf Channel developed and distributed on Twitter.

“By joining forces with Twitter on this new global partnership, we’re bringing NBCUniversal’s premium content directly to audiences around the world, and we’re leveraging Twitter’s platform capabilities to create even more engaging and interactive experiences,” Joe Cady, SVP of development at NBCUniversal, said in a statement.

Since 2015, NBCUniversal has invested heavily in digital platforms, including partnerships with Snap, Vox and BuzzFeed, among others. The media giant last year launched Peacock, its first branded SVOD/AVOD platform. The new deal with Twitter seeks to further involve NBCU’s brands on social media platforms.

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“NBCU represents one of Twitter’s largest and deepest content partnerships in the U.S.,” Jen Prince, VP and global head of content partnerships for Twitter, said in a statement. “This agreement expands not only their content publishing output in the U.S., but will position international markets for growth as well.”