Digiday DealBook: Truth Social acquisition extended, Lyft’s new media division, Axios bought by Cox and more

Welcome to Digiday’s DealBook. Our focus is to create a fast and straightforward rundown of the offers, acquisitions and hires that befell final week. The aim is to tell and replace you on the newest happenings within the trade on the prime of your inbox every Monday.  — Carly Weihe

  • If Twitter reveals the variety of bot accounts it has, Elon Musk says he’ll transfer ahead with buying the corporate. Twitter nonetheless maintains that solely 5% of its accounts are faux and didn’t remark following Musk’s assertion. In anticipation of the deal, Musk offered almost $7 billion price of Tesla shares to finance the deal.
  • Digital World Acquisition Corp. introduced an extension of the merger between the corporate and Fact Social after U.S. regulators started investigating the corporate. The unique termination date of the union was on September eighth, however now the corporate hopes to increase it for one more 12 months. 
  • Lyft has created a brand new media division, Lyft Media, to broaden its promoting choices inside the app. In its continued effort to compete with Uber, this new division comes a 12 months after the corporate acquired Halo Vehicles Inc., which makes advert screens on prime of vehicles. 
  • Lionsgate Media paid $191.4 million to accumulate a portion of Spyglass Media’s library and a stake within the firm. The deal was initially inked in 2021, giving Lionsgate 200 movies and an 18.4% stake within the firm.
  • Cox Enterprises purchased Axios for $525 million this previous week. Cox Enterprises won’t be buying Axios HQ, an AI-based service that synopsizes firm emails, which Axios will spin out HQ into a unique firm. 
  • Twitter is testing an edit perform for Tweets, however it could solely be accessible to Twitter Blue unique members. Twitter has not introduced when it is going to launch this perform.
  • ESPN is reportedly out of talks for the illusive rights of Massive 10 media rights for the 2023-2034 12 months. This exit leaves CBS, NBC, and Fox Information the three retailers with protection for the next 12 months. 
  • Phenomenal Media acquired a digital satirical journal for ladies, Reductress. This acquisition provides to Phenomenal’s catalog of media targeted on ladies and underrepresented communities. 

Digiday DealBook: Truth Social acquisition extended, Lyft’s new media division, Axios bought by Cox and more

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