Elon Musk’s team has reached out to investors to raise new funds for his struggling social media platform Twitter, one of the investors said.
Ross Gerber, president and CEO at Gerber Kawasaki Wealth & Investment Management, said that he was contacted by a Musk representative about offering more shares at the same price, $54.20, that Musk paid to take the company private in October.
Jared Birchall, the managing director of Elon Musk’s family office reached out to potential investors this week, news platform Semafor reported on Friday, citing two people familiar with the fundraising effort.
Twitter and Musk did not respond to requests for comments.
Twitter has seen advertisers flee amid worries about Musk’s approach to policing tweets, hitting revenues and its ability to pay interest on the $13 billion debt that Musk took on to buy the social media company.
Musk sold another $3.6 billion worth of shares in Tesla earlier this week, making it nearly $40 billion worth of shares in the electric-vehicle company sold this year.
Tesla shares on Friday posted their worst weekly loss since March 2020, with investors increasingly concerned about Musk being distracted by Twitter and the slowing global economy.
Elon Musk’s team seeks new funding for Twitter — investor
https://arab.news/gh8nq
Elon Musk’s team seeks new funding for Twitter — investor
- Twitter has seen advertisers flee amid worries about Musk’s approach to policing tweets
Shahid, Disney+ and OSN+ launch exclusive streaming bundle across GCC
- Bundle available exclusively visa Shahid for $25 a month
RIYADH: In a landmark regional collaboration, Shahid, Disney+, and OSN+ have announced an exclusive streaming bundle that brings together world-class hits from the three platforms under a single subscription in a first-of-its-kind offer for audiences in the Gulf Cooperation Council countries.
The all-in-one entertainment package, available only through Shahid in the GCC for about $25 a month, grants subscribers full access to three leading platforms covering Hollywood blockbusters, Disney+’s expansive range of beloved films, animations and series, OSN+’s library of HBO originals and international hits, and Shahid’s Arabic premium content.
The bundle is designed to simplify subscription management with a unified payment model, allowing viewers to access all three apps at the price of two and offering a streamlined user experience.
Natasha Matos-Hemingway, chief commercial and marketing officer at Shahid, said the partnership reflects a broader effort to expand digital entertainment offerings in the Middle East, catering to a growing audience seeking diversity, convenience and high-quality programming.
“We are proud to collaborate with OSN+ and Disney+ to offer an unmatched streaming experience to our subscribers,” she said. “With one subscription, one payment, and full access to premium content from all three platforms, we’re delivering unbeatable convenience, value and entertainment.”
With a growing demand for high-quality on-demand content, the bundle is expected to attract a wide range of users seeking comprehensive entertainment without juggling multiple subscriptions.
The move also signals increasing cooperation between global media giants and regional platforms, in a bid to meet the entertainment preferences of Arab audiences while expanding market reach.
Karl Holmes, SVP and general manager at Disney+ EMEA, said the collaboration will bring award-winning series like FX’s “Shogun” and favorites such as “Lilo & Stitch” into a unique bundle with Shahid’s regional hits including “Al Dariya.”
The agreement “reflects a shared ambition between Disney+ and Shahid to shape the future of entertainment in the Middle East,” said Holmes. “The Middle East is young, dynamic and fast-growing, and we’re delighted to give consumers a new and easy way to access extraordinary content at exceptional value.”
Choucri Khairallah, chief business officer at OSN+, said the partnership takes OSN+’s entertainment experience “to the next level.”
He added: “Today’s audiences expect more than great content; they seek seamless access, variety and exceptional value. This all-in-one bundle delivers exactly that.”
