BuzzFeed shares soared early Wednesday after the entrepreneur and former presidential candidate Vivek Ramaswamy reported a stake in the online media company and asked for talks with the board.Ramaswamy, who ended his candidacy in January and threw his support behind Donald Trump, has taken a 7.7% stake in BuzzFeed, worth about $6.81 million based on Tuesday’s closing share price. The purchase makes Ramaswamy the fourth largest shareholder in BuzzFeed, trailing Comcast, NEA Management and Hearst Communications.The stock surged as much as 77% to $4.44 at the market open on Wednesday to hit the highest intraday level since April 2023. It was the stock’s biggest gain since February.In a filing with the Securities and Exchange Commission, Ramaswamy said he seeks to “engage in a dialogue with board or management about numerous operational and strategic opportunities to maximize shareholder value, including a shift in the company’s strategy.”Ramaswamy founded pharmaceutical company Roivant Sciences in 2014, and co-founded Strive Asset Management in 2022. He stepped away from the asset management firm last year to focus on his presidential run and has said he isn’t returning. Ramaswamy’s position in BuzzFeed marks his latest move since ending his political campaign.BuzzFeed, known for its online quizzes, lists of “bests,” and articles on pop culture, has struggled in recent years due to cutbacks in internet advertising. Last year, the company eliminated its news division amid... Continue reading at 'Crains New York'
[ Crains New York | 2024-05-22 14:46:15 UTC ]
IBM is alleging that Twitter has infringed on its patents, including one that would seem to give the computing giant status as an inventor of online advertising.Revealed in a Twitter filing to the Securities and Exchange Commission this morning, IBM is claiming that Twitter has infringed on at... Continue reading at Advertising Age
[ Advertising Age | 2013-11-05 00:00:00 UTC ]
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We live in the age of new media and the kingdom of pop culture, and a new crop of books looks at how those spheres intersect with religion. Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-10-05 00:00:00 UTC ]
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It’s hard to imagine someone more out of place at Comic-Con than a politician. But Congressman and civil rights icon John Lewis took the pop culture and comic convention by storm with an autobiographical graphic novel and a new arena to deliver his message of tolerance and acceptance. It... Continue reading at Fast Company
[ Fast Company | 2013-08-20 00:00:00 UTC ]
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TV shows and Hollywood blockbusters aren't America's only cultural exports. The book industry is also expanding overseas, according to a report released Friday by the Association of American Publishers that looks at book exports for the first time. Exports by U.S. publishers, which are dominated... Continue reading at Crains New York
[ Crains New York | 2012-05-19 00:00:00 UTC ]
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The Securities and Exchange Commission has charged a California man with insider trading in the run-up to the 2009 Disney-Marvel deal. The SEC says Toby G. Scammell took advantage of his girlfriend, an "extern" working at Disney's corporate strategy department, to learn about the company's $4... Continue reading at AllThingsD
[ AllThingsD | 2011-08-12 00:00:00 UTC ]
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By Joe Wilcox, Betanews Sadly, I must reaffirm my position stated during Apple CEO Steve Jobs' last medical leave, in January 2009: His health situation isn't a private matter, and, frankly, it's even less so now. The seeming suddenness of Jobs' more recent medical leave, which this time is... Continue reading at Betanews
[ Betanews | 2011-01-31 00:00:00 UTC ]
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