August 15, 2022 | Written by Carly Wieh
Welcome to Digiday’s DealBook. Our focus is a quick and easy summary of the deals, acquisitions and hiring that took place over the past week. The goal is to be notified and updated with industry updates at the top of your inbox every Monday. —Caliwei River
- If Twitter reveals the number of bot accounts it has, Elon Musk says he will continue to acquire the Inc. Twitter still insists that only 5% of accounts are fake and has not commented after Musk’s statement. In anticipation of the deal, Musk sold nearly $7 billion worth of Tesla stock to finance the deal. Digital World Acquisition Corp. After U.S. regulators began investigating the company , announced an extension of the company’s merger with Truth Social. The union’s original termination date was September 8, but now the company wants to extend it for another 12 months.
Lyft has created a new media division, Lyft Media, to expand its reach in the app Advertising services. To continue competing with Uber, the new division was formed a year after the company acquired Halo Cars Inc., which makes advertising monitors in cars.
Lionsgate Media Acquires Parts of Spyglass Media’s Libraries and the Company’s Stake. The deal, originally signed in 2021, gave Lionsgate 200 films and an 18.4% stake in the company.
Cox Enterprises acquired Axios last week for $525 million. Cox Enterprises will not acquire Axios HQ, an AI-based service that summarizes corporate email, and Axios will spin off HQ into another company.
Twitter is testing tweet editing, but it may only work on Twitter Blue Exclusive member. Twitter has not announced when the feature will be released. ESPN is reportedly no longer associated with the phantom of the top 10 media rights for 2023-2034 right. The exit gave CBS, NBC and Fox News coverage the following year.
Phenomenal Media acquires Reductress, a digital satire magazine for women. The acquisition adds to Phenomenal’s media catalogue focused on women and underrepresented communities.