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FYI

Media Beat: June 22, 2020

Mainstream media have been tainted by political party stripes since the days of scriptures and newsheets.

Media Beat: June 22, 2020

By David Farrell

Mainstream media have been tainted by political party stripes since the days of scriptures and newsheets. Until the relatively recent rise of conglomerates, wealthy corporate sponsors were seen as either benign or meddlesome dictators, but the power these elites once wielded –– such as the Irvings, Thomsons, Murdochs –– has changed. Social media has become a powerful new voice communicating with global audiences. Sadly, these digital platforms are home to players intent on muddying, confusing and distorting so-called 'facts' that previously were tightly controlled by a small number of orgs that offered a degree of coherence in helping us understand the world around us. And then there are the 5th Columns, such as Breitbart News, that spew toxicity and divide us with partisan intent.


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Modern times and the new Cold War are making truth, clarity and facts hot potatoes. Donald Trump’s weekend rally was humiliated by an army of youthful TikTok adherents who decided to embarrass him and hijack the news story he hoped to star in. But TikTok is a Chinese company and to believe that there weren’t more sinister forces behind this political act is naïve.

Today’s column focusses on a number of age-old political themes that are being freshly dusted off and re-examined. With the re-shaping of news coverage come uncomfortable truths and complicated controversies that make the simplest of stories vulnerable to endless controversy.

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Hipgnosis Songs Fund logo
Pavlo Gonchar/SOPA Images/LightRocket/Getty Images
Hipgnosis Songs Fund logo
Business News

Hipgnosis Songs Fund Board Now Backs Blackstone’s $1.6 Billion Acquisition Bid

Concord's offer of $1.25 per share has been rejected, with HSF directors now recommending shareholders go with Blackstone.

Blackstone saw Concord’s most recent offer of $1.25 per share to acquire Hipgnosis Songs Fund and raised it a nickel to $1.30 on Monday, potentially putting a capper on a back-and-forth bidding war for the music rights company’s assets.

In a joint announcement, Blackstone and HSF’s board of directors said they approved of the revised all-cash takeover of all Hipgnosis shares, valuing the company and its portfolio of catalogs by Red Hot Chili Peppers, Neil Young, Shakira and others at roughly $1.572 billion.

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