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“Life” magazine will return to “Life”


Life is the iconic photography-centric chronicle of the 20th century, appearing in a variety of formats including a weekly magazine, website, and occasional special issues.

Now, thanks to a dispute between Barry Diller’s IAC and venture capitalist Josh Kushner and his wife, entrepreneur and model Karlie Kloss According to the agreement, the book will resume regular printing and publication. Josh Kushner’s Thrive Capital is one of OpenAI’s largest investors.

Kushner and Krause are buying publishing rights to “Life” from Dowdash Meredith, Print and digital publishers. The deal was completed through Bedford Media, the media startup where Kloss serves as CEO (the price was not disclosed).

Life was once a core part of American culture; Featuring the work of famous photographers such as Robert Capa and the work of top writers. “The Old Man and the Sea” First time appearing on its page. ).

But after the 1970s, the magazine’s popularity declined sharply, and the magazine was essentially reduced to casual reading and celebrity news. In 2008 it became an online archive, with occasional newsstand editions.

background story: According to DealBook, Kushner approached Diller about eight months ago about reviving Life magazine. His contention is that the magazine can be reborn through print and online editions, as well as through newer means such as events and partnerships with brands and major studios.

“The legacy of ‘Life’ is its ability to blend culture, current events and everyday life to highlight our triumphs, challenges and unique perspectives,” Kushner said in a statement.

Dotdash Meredith will remain involved: it owns the rights to Life’s vast archive of photos and content, and will continue to publish special single-topic print editions.

It’s the latest high-profile effort to revive traditional publications These are tough times for the media industry.Old school publishers like Condé Nast and newer ones, such as Walkers and vice have struggle During the advertising downturn.

But Kushner and Krause, who will serve as publishers of Life magazine, are betting that they have a more focused approach that will lead to success. “We believe Life is an uplifting and unifying voice in a chaotic media environment,” Krause said.

The pair have purchased other notable works. When Bedford was formed last year, it acquired fashion magazine iD In 2020, Kloss organized a consortium of investors Buy high-end fashion magazine W.

What’s next: Bedford will begin recruiting senior editorial staff for Life, which is tentatively scheduled to resume regular publication early next year.

Disney ends legal battle with Ron DeSantis over Florida’s special tax district. The entertainment giant and the state’s governor agree Collaborate on new growth initiatives The 25,000-acre area surrounding Walt Disney World. The bitter battle ended in surprising fashion as DeSantis and his allies took over the area and Disney quietly fought back to lock in its own development plans.

Amazon invests an additional $2.75 billion in Anthropic. The funding gives the tech giant a full stake in Anthropic, a hot artificial intelligence startup that to US$4 billionIt’s the latest sign that tech giants are eager to pour money into promising artificial intelligence technology.Meanwhile, Salesforce has reportedly paid more than $20 million Licensed image of Albert Einstein Promote its artificial intelligence work.

Trading made a comeback in season one. The value of mergers announced in the first three months was approximately $690.2 billion, up 30% from the same period last year, according to LSEG. But the growth was largely driven by large deals, such as Capital One’s $35 billion acquisition of Discover Financial Services: The number of announced deals fell 31% from the same period last year.

Sam Bankman-Fried is set to be sentenced today, with prosecutors asking the FTX founder to spend decades in prison, while defense attorneys argued for just a few years.

The 32-year-old’s fate will depend on how Judge Lewis Kaplan of the Southern District of New York weighs how much harm he caused investors and clients and how many will get their money back.

Prosecutors wanted Bankman-Fried to receive a maximum sentence of 50 years. The former poster boy for the cryptocurrency industry was found guilty of seven counts of fraud and conspiracy in November after being accused of stealing billions of dollars to fund his lavish lifestyle and his own investments.

In a court filing this month, prosecutors said The fraud was “historic,” pointing to the severity of the losses and the tens of thousands of potential victims, including inexperienced retail investors.

Bankman-Fried’s attorneys appealed for leniency. They called for a prison term of no more than six and a half years and accused the government of imposing “medieval” punishment on an “exceptionally smart” young man who had made many contributions to society.

They also pointed to claims by FTX lawyers that clients would eventually be reimbursed. They said the net harm to customers, lenders and investors was “zero”.

FTX’s current leadership has slammed the claims. John Ray told Judge Kaplan this month No guarantee of recovery of funds and will accept the work of his team. He added that saying no harm was done was “absolutely, callously and patently false”.

Victim compensation does not guarantee a reduced sentence“It is a crime to defraud people,” former federal prosecutor Renato Mariotti told DealBook, “and the scale of the deception is very large.” He is expected to be sentenced to 20 to 30 years in prison.

Mark Kornfeld of the law firm Buchanan Ingersoll & Rooney agreed that Bankmanfried’s role in helping victims recover money may not have been significant. “He was not the one who made the victim completely changed.” He told the Financial Times.


As the S&P 500 enters its final trading day of the season, it is heading for a fifth straight monthly gain, a trend driven by hopes that the Federal Reserve will begin cutting interest rates as early as June.

But new inflation data could still undermine that momentum. The U.S. Department of Commerce is scheduled to release the personal consumption expenditures index that has attracted much attention in Washington at 8:30 am Eastern Time tomorrow.

Economists expect another hot data. The issue is, How hot? Particularly strong data could prompt the Fed to delay lowering borrowing costs and affect the number of rate cuts this year.

Here are some things to note:

  • The overall PCE is expected to grow by 2.5% in February, a slight increase from January.

  • Excluding volatile food and fuel prices, core personal consumption expenditures are expected to grow at an annualized rate of 2.8%, roughly the same as last month.

  • Analysts will be watching for signs that services inflation – spending on things like air tickets, health care and rent – has begun to slow. Consumer spending in these areas has remained high in recent months.

Fed hawks are weighing in ahead of the release of the report. Christopher WallerA Fed governor said in a speech yesterday that the central bank should hold off on cutting interest rates until he sees “at least a few months of better inflation data.” (The title of his speech: “Still in no hurry.”)

Investors sold Treasuries after Waller’s comments.But the futures market this morning is still predicting three rate cuts this year, more or less on par with The latest forecasts from the Federal Reserve.


Ray DalioFounder of Bridgewater Associates. In a lengthy post on LinkedIn, the hedge fund billionaire agreed with Chinese President Xi Jinping about the coming century of extraordinary change and offered suggestions to help Beijing cope with its economic problems.


As policymakers try to figure out how to regulate the fast-growing artificial intelligence industry, Silicon Valley has stepped up lobbying efforts to steer the debate.

Its latest tactic is to exploit growing concerns about China.

The Biden administration is doubling down on China’s tech threat. Recent moves prove this, such as voicing support for legislation that could ban TikTok in the United States

China is producing More top researchersAlthough the United States is far ahead in investment and breakthroughs.

Silicon Valley is trying to capitalize on that sentiment. On May 1, tech leaders including Palantir’s Alex Karp, Sequoia Capital’s Roelof Botha and Khosla Ventures’ Vinod Khosla are expected to attend a meeting in Washington with dozens of lawmakers including Louisiana Republican Speaker Mike Johnson.

Jacob Helberg, a Palantir adviser and a member of the Congressional National Security Council on China Threats, is organizing the event.

For technology companies, Washington’s focus on China could be good for business. “The flip side of slowing down China is minimizing friction and regulation for U.S. companies,” Amba Kak, a former senior adviser on artificial intelligence at the Federal Trade Commission, told The Times.

The event comes as the industry ramps up lobbying efforts. In the first nine months of 2023, more than 350 organizations reported spending a total of $569 million lobbying the federal government on artificial intelligence issues, according to OpenSecrets.

But the Facebook co-founder reportedly offered a different perspective. Dustin MoskowitzParker said the major Democratic donor met with President Biden last month and shared his own views on artificial intelligence security.

Moskowitz and others warn “Mitigating the risk of AI extinction should become a global priority.” His nonprofit Open Philanthropy has Promoted regulations For example, software export controls and licensing requirements for certain artificial intelligence models.

trade

  • British hedge fund tycoon Chris Horn He topped Institutional Investor’s latest rich list with revenue of $2.9 billion last year, followed by Millennium’s Izzy Englander and Citadel’s Ken Griffin. (II)

  • Formula 1 owner Liberty Media reportedly Negotiating to acquire MotoGP parent companyMotorcycle racing costs more than 4 billion euros (about 4.3 billion U.S. dollars). (FT)

  • Josh Harris and David Blitzer, whose company owns the Philadelphia 76ers, formed an unparalleled movement Invest in youth-focused sports with the support of the Chernin Group. (unrivaled sport)

policy

  • Qatari royal family Newsmax invests approximately $50 million During the Trump administration. Staff at the conservative news outlet were reportedly told to soften coverage of the country before and after the deal. (WaPo)

  • Joe LiebermanThe longtime Democratic senator and vice presidential candidate, who most recently helped lead the independent political group No Labels, died yesterday. He was 82 years old. (New York Times)

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