Vice News got Facebook to approve its purchases of ads under the names of all 100 U.S. senators, including Senate Minority Leader Chuck Schumer (D-NY) and Senate Majority Leader Mitch McConnell (R-KY), per a new report.
Why it matters: Facebook's efforts at transparency in political advertising won't be effective if the platform does not verify the information users provide.
LOS ANGELES — Live from the University of California, Los Angeles, Axios Business Editor Dan Primack hosts a conversation with WndrCo managing partner and Quibi founder and chairman Jeffrey Katzenberg, Quibi CEO Meg Whitman and CEO of JPMorgan Chase Jamie Dimon.
AT&T is wasting no time building its big Netflix competitor, which it hopes will be the anchor of its media business, WarnerMedia (formerly Time Warner).
Why it matters: Executives believe that a Netflix-like subscription video platform, that includes evergreen content in a library of franchise-driven titles, will be the driver of WarnerMedia’s success as WarnerMedia is now one of the four core pillars of AT&T’s business.
Tragic events ahead of the midterms are causing a contentious media blame game over who is responsible for the increasing radicalization of American citizens.
Why it matters: The media infighting is itself the byproduct of a nation that's become radicalized by a collision of geopolitical events over years, and it's being compounded by an economic crisis around news, where the most profitable information online and on TV is often the most inflammatory.
The stock market isn't applauding solid corporate earnings, but that's not new this quarter — it's been happening for the past year.
Why it matters: Fears of a downturn have increased, with investors worried about slowing global growth, the tax cut "sugar high" wearing off, and ongoing trade disputes.
Data: BlackRock Investment Institute; Chart: Andrew Witherspoon/Axios. Note: MSCI Earnings Growth Rate Index shows 12-month forward earnings estimates for the MSCI Index.
The Athletic, a subscription-based digital sports media company, raised $40 million in a series C funding round. With this investment, the company has raised a total of $70 million since its launch in 2016 and is valued at roughly $200 million, according to sources familiar with the deal.
Why it matters: The company, which makes money from consumer subscriptions, thinks it can meet high growth expectations from venture capitalists, many of whom are facing poor returns on investments in ad-based digital media companies.
Agriculture Secretary Sonny Perdue said Monday that his agency doesn’t plan to extend the up to $12 billion emergency relief package for farmers into 2019, Reuters reports. The aid, unveiled in July, was implemented to offset damages caused by President Trump’s trade war with China.
The details: Perdue told reporters that he’s monitoring market conditions, and that “farmers, even under financial duress, will make their best business decision for 2019 without the expectation of a marker facilitation program.” The USDA has so far allocated $6 billion to farmers, and Perdue said Monday that a second round of relief should be outlined by December.
The presidential victory of right-wing nationalist Jair Bolsonaro has upended Brazil’s political establishment, but the country's beleaguered business community has greeted it with surging support. Brazil's benchmark stock index hit a record high following his 55%–45% win against former Sao Paulo mayor Fernando Haddad of the Worker’s Party.
The big picture: While his controversial views on social policy and criminal justice are well known, Bolsonaro’s congressional and campaign record have provided conflicting evidence about his likelihood of pushing pro-market policies in office. The new leader of the world’s eighth-largest economy has a huge fix-it job ahead of him, and few steady principles with which to tackle it.
The editorial board of New Jersey’s largest newspaper, the Star-Ledger, endorsed embattled Democratic Sen. Bob Menendez’s re-election bid on Sunday, telling voters that while the “race presents the most depressing choice for New Jersey voters in a generation,” they should “choke down their reluctance and vote for Menendez.”
The details: Despite being indicted on corruption charges in 2015, which were later dropped after a judge declared a mistrial due to a deadlocked jury, the board concluded that Menendez will be far better than his Republican challenger, Bob Hugin, at safeguarding voters against President Trump. "The question is which candidate can best fight Trump's toxic policies, his grotesque appeals to racial and ethnic tribalism, and his corrosive attacks on the pillars of our democracy, starting with the rule of law," the endorsement reads. Meanwhile, the Cook Political Report rated this race a toss-up on Friday.
“A segment on Fox News this morning where hosts laughed and joked their way through a discussion on political impact of terror was bizarre. Not even 48 hours since blood flowed at synagogue? Check your soul in the makeup chair!”
A suspicious package addressed to CNN's worldwide headquarters in Atlanta was intercepted at a nearby post office Monday morning, CNN President Jeff Zucker said in a memo.
The big picture: Two mail bombs addressed to CNN's New York offices were found last week — along with other devices addressed to prominent critics of President Trump — prompting the network to set up off-site mail screening. According to CNN's Javi Morgado, the package received Monday is similar in appearance to those sent by 56-year-old Cesar Sayoc, who was arrested on Friday and is due in court today. Authorities have not yet commented on whether the incidents are connected.
President Trump continued to attack the media as "the true Enemy of the People" in a Monday morning tweet, blaming "Fake News" for the "great anger in our [c]ountry," just days after a horrific 72-hour stretch of political violence tore across the nation.
"There is great anger in our Country caused in part by inaccurate, and even fraudulent, reporting of the news. The Fake News Media, the true Enemy of the People, must stop the open & obvious hostility & report the news accurately & fairly. That will do much to put out the flame of Anger and Outrage and we will then be able to bring all sides together in Peace and Harmony. Fake News Must End!"
