Media Business
Scott Galloway: Elon Musk’s Offer to Buy Twitter Isn’t Serious
Galloway examined the wording that leads him to believe that it’s not a serious offer from Musk.

Published
1 year agoon
By
Eduardo Razo
Elon Musk made headlines on Thursday morning when the Tesla CEO proposed purchasing the company at $54.20/share. Furthermore, hours later, the entrepreneur spoke at a TED Talk in Vancouver, explaining his decision.
Musk stated how heavily Twitter influences the function of a country’s freedom and democracy, so he wants the platform to be as trustworthy as possible. However, CNN’s Scott Galloway doesn’t believe it’s a serious offer from Musk.
“I don’t think this is a serious offer, and the market doesn’t think it’s a serious offer. I think this is the first time I’ve ever seen. I don’t know if you’ve ever seen an offer to take a company private at a 20% premium,” Galloway said on CNN+’s Special Report.
Furthermore, Galloway examined the wording that leads him to believe that it’s not a serious offer from Musk.
“And on that day, the market actually takes the stock down because the market looks at this and says, ‘okay, let’s look at the words my best and final offer.’”
"I don't think this is a serious offer and the market doesn't think this is a serious offer," @profgalloway says
— Brian Stelter (@brianstelter) April 15, 2022
Our complete special report about Elon Musk's bid for Twitter is streaming here: https://t.co/F0bGzt9bXJ pic.twitter.com/IfqsepkxVt
“Deals never get done on the first offer, meaning he isn’t serious and if I’m going to have to reconsider my share position. This sounds to me like the market has interpreted this, and I think correctly as I’m about to sell my shares, and as a result, the market has gone down.”
Galloway isn’t alone in thinking that this isn’t a serious offer; as Bloomberg’s Brad Stone states, it seems more like a publicity stunt than a serious proposal to take over Twitter.
“I feel like he’s someone I wrote about this earlier this week in our Bloomberg Technology newsletter,” Stone said.
“Like Marc Andreessen and like Peter Thiel has become kind of addicted to the attention that comes with a dramatic public performance. And maybe I’m wrong, but I don’t see $54 a share as compelling.”

Eduardo Razo is a news media writer for BNM, focusing on coverage of news/talk radio and news television. He can be found on Twitter @eddierazo_ or you can reach him by email at [email protected].
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Media Business
NPR Names Whitney Maddox VP of Diversity, Equity & Inclusion
Maddox has led diversity, equity, and inclusion training at more than 250 stations with the network since joining in 2021.

Published
7 hours agoon
September 21, 2023By
BNM Staff
NPR has promoted Whitney Maddox to its Vice President of Diversity, Equity & Inclusion.
“I am excited to be a part of shaping the company’s strategy for DE&I,” said Maddox. “I am fully aware that the reason my career has blossomed at NPR is because of my supervisor Keith Woods. Keith is the reason that I feel confident stepping into this VP role and he is the reason why I will succeed.”
Before joining NPR, Maddox worked at Georgetown University as Assistant Director of Leadership Development and Racial Justice Initiatives. She also was an adjunct professor teaching about value-based leadership.
Maddox has led diversity, equity, and inclusion training at more than 250 stations with the network since joining in 2021. After developing a program called STAR — Stand Together Against Racism — at Georgetown, Maddox implemented the training at NPR for more than 1,000 staffers.
“Since joining us nearly three years ago, Whitney has, in many ways, changed who we are and how we see ourselves as a company,” Chief Diversity Officer Keith Wood said. This promotion recognizes Whitney’s increasing influence across NPR and the larger Network and her emergent influence on the company’s direction and that of our Member stations.”
Media Business
Rupert Murdoch Stepping Down as Fox Corp. Chairman

Published
8 hours agoon
September 21, 2023By
BNM Staff
Rupert Murdoch has announced he will step down from his role leading Fox Corp. and News Corp. and will hand the reins to his son, Lachlan.
The 92-year-old shared his belief that the time is right to make the transition.
“I have decided to transition to the role of Chairman Emeritus at Fox and News”, Murdoch said, adding that Lachlan Murdoch “will become sole chairman of both companies”.
“The time is right for me to take on different roles, knowing that we have truly talented teams and a passionate, principled leader,” Murdoch said of his son.
“I am truly proud of what we have achieved collectively through the decades, and I owe much to my colleagues whose contributions to our success have sometimes been unseen outside the company but are deeply appreciated by me,” Murdoch continued.
The longtime executive said just because he is relinquishing his title doesn’t mean he will step away from the companies he built completely.
“In my new role, I can guarantee you that I will be involved every day in the contest of ideas. Our companies are communities, and I will be an active member of our community,” Rupert Murdoch wrote of his new role. “I will be watching our broadcasts with a critical eye, reading our newspapers and websites and books with much interest, and reaching out to you with thoughts, ideas, and advice.”
Murdoch’s departure comes after a new book claims he believed Fox News could settle its defamation lawsuit with Dominion Voting Systems for $50 million. The network ultimately paid a $787.5 million settlement with the voting machine company after it was accused of deliberately airing falsehoods about the validity of the 2020 Presidential election.
Murdoch began his media executive career 70 years ago by taking over The News in Adelaide, Australia after his father’s death. He went on to own hundreds of local, national, and international newspaper and book publishing outlets, and television channels during his career.
The news of Murdoch’s departure was announced during America’s Newsroom on Fox News.
🚨BREAKING NEWS🚨
— Barrett News Media (@BNMStaff) September 21, 2023
Rupert Murdoch steps down as chairman of Fox Corporation and News Corp. His son Lachlan will be the sole chair of both companies. pic.twitter.com/zQ5tqc7hD4
“We’d like to add our gratitude, as well,” anchor Bill Hemmer said. “Rupert Murdoch created all of this and so much more across America and the globe. His life’s work has left an indelible imprint on the global media landscape. His contributions are both innumerable and extraordinary. And we thank him for letting us be a part of it all. Thank you, Rupert. And congratulations.”
Media Business
Majority of Political Ad Spending Hits Battleground States
An estimated $821 million is forecasted to be spent in Arizona alone.

Published
1 day agoon
September 20, 2023By
BNM Staff
As the 2024 Presidential election season begins to take shape, political advertising will also ramp up. A new report shows that the majority of the spending will take place in seven battleground states.
Arizona, Georgia, Michigan, Nevada, North Carolina, Pennsylvania, and Wisconsin are slated to see the most political advertising, according to AdImpact. An estimated $821 million is forecasted to be spent in Arizona alone.
AdImpact shares that political advertising is expected to grow by 13% across broadcast, cable, radio, satellite, digital, and connected television in 2024. The forecasted expenditure will quadruple what was spent in the 2016 election.
The organization adds that 3.9% of all campaign advertising will be spent on radio. Meanwhile, BIA claims the industry is expected 5.3% of the media budgets from candidates.