A morning of news other than that of the Florida hurricane
Morning Brief: Nobel Peace Prize winner must now deal with failure at the ballot box; dealing with Internet trolls; lifestyle publisher files for bankruptcy protection
Today’s news will likely be dominated by news of the hurricane currently hitting Florida. Whether the story is overblown or not will be determined, sadly, but the destruction and loss in life that could occur. Here is hoping that the story ends up being bigger than the actual event.
Late last night I received the push notification for the news that Columbia’s president had received the Nobel Peace Prize. The irony in the choice is obvious: after successfully negotiating the end to a 52 year war his fellow countrymen voted down the accord because many could not forgive. It’s not for me to say whether they were right or wrong, but it is a reminder that hate is a powerful emotion.
The New York Times, Nicholas Casey:
The president of Colombia was awarded the Nobel Peace Prize on Friday for pursuing a deal to end 52 years of conflict with a leftist rebel group, the longest-running war in the Americas, just five days after Colombians rejected the agreement in a shocking referendum result…
…Colombian voters threw out the peace deal just days after the government had invited world leaders to a celebratory signing ceremony, leaving its fate — along with Mr. Santos’s legacy — in limbo.
Despite the setback, the Norwegian Nobel Committee recognized Mr. Santos “for his resolute efforts to bring the country’s more than 50-year-long civil war to an end.”
So, Brexit isn’t going to be a walk in the part, who would have known? Good thing we don’t have a “Mr. Brexit” here in the States. (Oops, oh yeah, we do.)
Bloomberg, Simon Kennedy:
It dawned on investors this week that when it comes to quitting the European Union, safeguarding the economy isn’t Prime Minister Theresa May’s top priority…
…The pound, which dropped to as low as $1.1841 in Asia, traded down about 2 percent at $1.2363 at 12:09 p.m. in London. It lost about 4.7 percent for the week.
Signs that the divorce talks — and terms — were likely to be bitter emerged in the annual Conservative party conference that ended Wednesday.
BuzzFeed News, Alberto Nardelli:
The British government has told the London School of Economics (LSE) that it does not want non-UK nationals to work on a Brexit-related project, BuzzFeed News has learned.
The LSE was asked by the Foreign and Commonwealth Office (FCO) to prepare a series of policy briefs on Brexit. But on Friday it emerged that non-UK national staff were told by email the the department did not want them working on the project.
Hey you wanted it, now you want a discount? Really? If those involved with the Yahoo deal were not fully informed of the mess they were about to acquire I cannot say I have much sympathy. It continues to amaze me how bad many companies are at doing due diligence. That doesn’t appear to be the case with the possible Twitter sale, however.
NY Post, Claire Atkinson:
Verizon is pushing for a $1 billion discount off its pending $4.8 billion agreement to buy Yahoo, several sources told The Post exclusively.
The request comes on the heels of the web giant getting bludgeoned by bad news in the past few days…
…“In the last day we’ve heard that Tim [Armstong] is getting cold feet. He’s pretty upset about the lack of disclosure and he’s saying can we get out of this or can we reduce the price?” said a source familiar with Verizon’s thinking.
Recode, Peter Kafka:
Sources familiar with Disney, which was mulling a possible Twitter purchase last week, say the media giant has decided not to move forward.
Earlier today Recode reported that Google, a logical buyer for Twitter who had also hired a banker to kick the company’s tires, was not going to bid; Apple is also unlikely. Twitter shares dropped 9 percent in after-hours trading.
For now, that leaves Salesforce as the only potential buyer for Twitter, though the company has never confirmed publicly that it wants to make a deal.
This item made into the morning news rundown over at The Digital Reader, and it was a good choice. Here we have actual research on Internet trolls, making it fascinating reading. Luckily, most B2B websites such as TNM rarely has to deal with trolls, though that doesn’t mean there are players out there looking to disrupt TNM’s publishing efforts.
Negative social potency is measured using the Social Rewards Questionnaire, in which participants indicate their agreement with statements such as “I enjoy making someone angry” and “I enjoy embarrassing others”.
These are the rewarding feelings that some people experience when creating social discord, through selfish or self-serving behaviours and interactions. Individuals who seek negative social potency are likely to enjoy inflicting psychological pain and distress on others…
…Happily, this discovery suggests an easy way to deal with trolls: ignore them, rather than giving them the satisfaction of an angry reaction.
Here are two items concerning the bankruptcy filing by Multimedia Platforms Worldwide, the publisher of a number of publications serving the LGBT community. Looks like this filing has less to do with declining print advertising or paid circulation than other matters.
The Wall Street Journal, Katy Stech:
The publisher of Frontiers lifestyle magazine, New York’s Next publication and other gay interest media outlets that reach 7.5 million readers annually filed for bankruptcy protection amid a lender dispute.
Lawyers who put Multimedia Platforms Worldwide Inc., the publicly traded owner of the publications, into chapter 11 bankruptcy on Tuesday said the company can’t spend some of its cash because of the borrowing dispute. It didn’t state how the case would affect its publishing schedule or other operations, which employed 44 people as of March, according to filings made with U.S. Securities and Exchange Commission.
South Florida Gay News, Norm Kent
The Florida Agenda is no more.
The weekly print newspaper here in South Florida stopped publishing last week after it’s parent company Multimedia Platforms Worldwide was effectively shut down when a judge ordered the seizure of all of its assets and cash on hand.
The lawsuit that led to that order alleged the management team of Multimedia, the baby of local publisher and CEO, Bobby Blair, engaged in fraudulent and deceptive trade practices, along with negligent misrepresentations.