According to CNN, the court filing didn’t provide any details about the investigation, saying only that it is related to Musk’s “conduct” related to the deal. But Twitter also accuses Musk’s lawyers of failing to cooperate with requests from both the Securities and Exchange Commission, and the Federal Trade Commission to provide information related to the lawsuit Musk is fighting that aims to force him to honor the deal to buy the social media company.According to Reuters, Twitter accuses Musk’s lawyers of invoking “investigative privilege” in their refusal to comply.Musk struck deal earlier this year to buy Twitter for $44 billion, but very soon after attempted to break the agreement, citing unproven claims of fraudulent data about Twitter’s subscriber count.
NATPE Files For Bankruptcy, Citing Covid Impact And Vowing To Keep Holding Events
03.10.2022 - 22:55 / deadline.com
NATPE, which has convened annual gatherings of producers, syndicators, station owners and other TV stakeholders for decades, has filed for bankruptcy.
The organization cited the impact of Covid and said it planned to continue holding events, including the annual January conference, which has been shifted to the Bahamas from its longtime Miami base. The official Chapter 11 filing is expected to happen Tuesday, but today’s announcement is intended to give the industry and attendees advance warning. The intention behind seeking a formal remedy is to reorganize the organization’s operations.
The pandemic “prevented NATPE from holding events, which typically generate significant revenue,” a press release said. “These cancellations forced NATPE to operate on its financial reserves, which now require it to reorganize the NATPE business structure.”
In June, NATPE held its first in-person marketplace in two years at the Intercontinental Hotel in Budapest, Hungary. Due to the Omicron wave last winter, the group had to cancel its 2022 conference in Miami at the 11th hour. Earlier this year, it announced that it would shift to the Baha Mar Resort in Nassau, Bahamas, in January 2023, with a return to Budapest on the books for June 2023. Both events next year remain on the books.
As to the nature of restructuring, NATPE said it is “looking at all possible options.” Possibilities could include raising funds through strategic alliances as well as continuing to operate NATPE as a more streamlined and reorganized operation. While no executives were quoted in the press release, it said NATPE was “optimistic” about emerging from bankruptcy in a leadership position in the industry.
NATPE, short for the National Association of Television
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