The 11th Hour Dispatch – Wednesday, April 25, 2018

| April 25, 2018

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BINGE WATCH

BuzzFeed has sold a 20-episode short-form documentary series to Netflix. The weekly series will be hosted by various BuzzFeed journalists who will cover different topics of choice. The premiere of Follow This will feature Scaachi Koul as she explores the phenomenon of Autonomous Sensory Meridian Response (ASMR) videos. Netflix is pumping out weekly shows at a breakneck pace right now, and this will add another layer of news-focused documentary series (that are definitely not news; don’t you dare call them news) to its lineup. 

YOUNG MONEY

Twitter has recorded its second ever (and second in a row) profitable quarter. The 12-year-old social platform reported $61 million in profit in its Q1 reportings. Its user base is also doing well, with a reported 336 million monthly global active users (up 6 million from last quarter) and 69 million monthly U.S. active users. It also blew past Wall Street revenue predictions. Analysts had predicted the company would pull in $605 million in revenue with an addition of 2 million daily active users; however, it finished Q1 with $665 million and added 3x times the projected amount of daily active users. However, Twitter still closed the day in the red.

BIG BUSINESS

Peter Thiel has agreed to stop his pursuit of Gawker in order to avoid a potential lawsuit alleging that Thiel secretly funded Terry “Hulk Hogan” Bollea’s 2016 case in order to bankrupt the publication (which did push Gawker into chapter 11 bankruptcy and forced a sale of its assets). On Wednesday, Thiel’s firm Thiel Capital LLC and an adviser liquidating Gawker Media LLC filed the agreement in the U.S. Bankruptcy Court in New York. This agreement will remove Thiel from the sale process and provide a legal release for Gawker’s article archive to whoever eventually buys the publication. Bollea’s $31 million settlement entitles the former pro wrestler to 45% of Gawker’s sale, which includes Gawker’s domain, social media accounts, and around 200K articles — including all articles about Thiel. The last Gawker article was published Monday, August 22, 2016 by founder Nick Denton, so to say it’s been a long time coming is the understatement of the century. Or in our news cycle, like the last four hours.  

NOTHIN’ BUT ‘NET

Auntie Anne’s has released a pretzel-themed clothing line to benefit Alex’s Lemonade Stand.

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