Twitter Rolls Out Its Ad-Revenue Sharing for Verified Creators

As Twitter seeks to reinvent its business model, the company is inviting some high-profile creators to share ad revenue. Described as amounting to “millions of dollars,” the company’s first payments have reportedly been issued to popular Twitter posters including right-wing influencer Andrew Tate and the left-leaning twins Ed and Brian Krassenstein. Platform owner Elon Musk tweeted last month that the first block of payments would total $5 million. Twitter has initially launched the program to an invitation-only group “who will be invited to accept payment” and “will soon launch an application process” for broader outreach. Continue reading Twitter Rolls Out Its Ad-Revenue Sharing for Verified Creators

Regal Parent Cineworld on Path to Chapter 11 Restructuring

British cinema operator Cineworld Group, owner of Regal Cinemas, has proposed a plan to emerge from Chapter 11 bankruptcy. In what is described as a “debt-for-equity swap,” the company would reduce by some $4.53 billion the indebtedness of its principal U.S. claimants, who would be getting a stake in the company in exchange for waiving their claims. The group companies have commitments for roughly $1.94 billion in debtor financing from lenders to help ensure Cineworld operations can continue during its anticipated reorganization, which is subject to court approval. The transaction is expected to “result in very significant dilution of existing equity interests.” Continue reading Regal Parent Cineworld on Path to Chapter 11 Restructuring

Twitter Revenue and Adjusted Earnings Are Down 40 Percent

Twitter’s December adjusted earnings and revenue fell about 40 percent, year over year, according to reporting in The Wall Street Journal. CEO Elon Musk, who completed his acquisition of the social platform in October, has instituted deep cuts as he tries to reinvent the company hobbled with an estimated $1 billion in interest per annum on the $13 billion he borrowed to helped pay for the company. The troubles are due in part to bad timing, as the ad market on which Twitter and other socials depend took an overall downturn. Musk, nonetheless, remains optimistic the company will at least break even in 2023. Continue reading Twitter Revenue and Adjusted Earnings Are Down 40 Percent

Apple Among Those Impacted by Slowing Chinese Economy

Apple stock slumped 10 percent last Thursday to $142.19, the company’s biggest single-day percentage drop in almost six years, erasing $74.65 billion from its market value. That came after Apple chief executive Tim Cook warned that China’s economic slump is responsible for slowed-down iPhone sales in the past quarter. China’s wobbling consumer confidence is impacting the entire world economy, however, and Apple has problems beyond China. In India, it’s reaping a mere 1 percent of overall smartphone sales. Continue reading Apple Among Those Impacted by Slowing Chinese Economy

Sprint Could Acquire T-Mobile to Better Compete with Rivals

Sprint, the third largest carrier in the U.S., may take over its smaller rival, T-Mobile. Sprint has received proposals from at least two banks on how to finance the acquisition. T-Mobile’s market value is reportedly around $26 billion, but the deal would likely cost $50 billion total, with approximately $20 billion going toward paying off T-Mobile’s debt. The potential takeover comes at a little more than a year from an expected government auction of wireless airwaves. Continue reading Sprint Could Acquire T-Mobile to Better Compete with Rivals

Charter Continues Pursuit of Time Warner Cable with New Bid

Charter Communications went public on Monday with its latest bid for Time Warner Cable. The $37.4 billion cash-and-stock proposal, submitted via letter from Charter CEO Tom Rutledge to TWC Chief Rob Marcus, follows three private offers submitted since June that have all been turned down by the nation’s second-largest cable company. TWC rejected the bid as “grossly inadequate.” Rutledge said Charter, the fourth largest cable operator, has no plans to increase the offer. Continue reading Charter Continues Pursuit of Time Warner Cable with New Bid