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Elon Musk Will Resign as CEO, Needs ‘Someone Foolish’ to Take Job

CNBC reported Monday that Musk is “actively looking” for a new CEO of the social media platform.

Eduardo Razo

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Elon Musk ran a poll on Sunday asking users whether he should “step down as head of Twitter,” leading to the majority voting 57.5 percent voting yes and the minority voting 42.5 percent no.

Then, CNBC reported Monday that Musk is “actively looking” for a new CEO of the social media platform. A few hours later, the Tesla CEO published a tweet stating he would oblige by what the Twitter users voted. 

“I will resign as CEO as soon as I find someone foolish enough to take the job!” Musk said on Twitter. “After that, I will just run the software & servers teams.”

After the deal to purchase the company was finalized on Oct. 27, Musk has spent the last couple of months as head of Twitter, but it has been a controversial tenure that has resulted in Tesla stock taking a hit

MSNBC’s Joe Scarborough stated during “Morning Joe” on Monday that it’s in Musk’s best interest to step away from Twitter to save his other brands, Tesla and SpaceX.  

“Some of the people who are probably happiest about the results of this poll, if in fact, Elon bides by it, are the shareholders and those who have the largest stake in Tesla that are cheering for him and SpaceX, who actually want Elon Musk to succeed in his business ventures,” Scarborough said. 

“It has been disastrous. All of this has been disastrous for Tesla stock. So it’ll be curious to see if he does leave, though. It’s actually in his best interest.”

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Media Business

Instreamatic Launches New AI Tool for Audio Ads

This includes details like the listener’s location, time of day, type of app or platform they are using, the type of activity engaged in while listening, and even the local weather.

Maddy Troy

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Instreamatic, a company providing audio advertising and marketing products powered by artificial intelligence, has launched a new AI product called Contextual Audio Ads.

By using generative AI, the tool creates a synthesized voice for use in the commercial production process. With the use of the existing ad, hundreds or even thousands of personalized variables can be generated and stitched into the copy.

This includes details like the listener’s location, time of day, type of app or platform they are using, the type of activity engaged in while listening, and even the local weather.

For example, a Contextual Audio Ad created for a particular listener could start with “Good morning, hope you’re enjoying your podcast on this rainy day in Chicago. I just wanted to let you know about an incredible sale happening today.”

This may feel like a breach of privacy for some listeners, but advertisers are eager to try the technology. Currently, the Contextual Audio Ad product is being tested with creative agencies in the U.S. and the UK, according to Podcast News Daily.

“Instreamatic’s Contextual Audio Ads are better at capturing listeners’ attention because they speak precisely to that listener’s context and needs in the moment,” said CEO of Instreamatic Stas Tushinskiy.

It is unclear if listeners are required to opt-in to the Contextual Audio Ad tool in order for brands to leverage their personal data in order to be served personalized ads created by the AI.

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Media Business

Franklin News Foundation Names Jerry Lyles VP of Syndication

“Our expansion of America’s Talking Network podcasts to terrestrial radio has also occurred ahead of schedule.”

Maddy Troy

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Jerry Lyles, an industry leader with experience spanning four decades has joined the Franklin News Foundation as the organization’s first vice president of syndication and distribution.

Lyles has spend is career helping newspapers, radio, TV, and news media sites grow and expand their print and digital offerings. Lyles is now responsible for expanding Franklin News Foundation’s partnerships with media partners.

Franklin News Foundation President Chris Krug said, “Franklin has experienced significant growth over the past three years… Our team has built dozens of relationships across all platforms, and we are certain that having Jerry in this role will ensure we are able to deliver the highest level of service to our existing and new partners.”

Lyles will have responsibility over external relations for The Center Square newswire, Illinois Radio Network, and America’s Talking Network, all of which are positioned for significant growth over the coming years. Lyles has gained experience through is work for various media outlets, including Publishing Group of America, Athlon Sports, Parade Magazine, Dobie Media, TownNews (now Blox Media), AHM Publishing, and most recently, The Daily Wire.

“I have admired the service-oriented approach that Jerry took when we worked together in the newspaper industry,” said Krug. “Our expansion of America’s Talking Network podcasts to terrestrial radio has also occurred ahead of schedule.”

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Media Business

The Messenger Shuts Down Grid News After Purchase

Maddy Troy

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Grid News, the D.C.-based digital news startup sold last week to Jimmy Finkelstein’s new media startup The Messenger, will shut down Monday afternoon.

Last week, The Messenger said it would acquire Grid, and as part of a deal with Abu Dhabi-based investment firm International Media Investments (IMI).

The acquisition follows co-founder and president/CEO Mark Bauman stepping down last year during a time of internal confusion over the direction of the business. His leadership role was never re-filled.

The Messenger is reportedly evaluating what to do with Grid’s products, it is likely that Grid’s branding will not live on, a source told Axios.

Grid’s roughly 50 employees were told last week that the site would be shut down, The Messenger’s team is now interviewing Grid staffers for roles at the company. While The Messenger plans to retain as much of Grid’s editorial staff as possible, it is still unclear whether Grid’s co-founder and executive editor Laura McGann will stay on. 

The Messenger plans to maintain Grid’s newsletters, but it’s not decided if its podcast, “Bad Takes,” will continue, a source told Axios.

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