Rep. Beyer Heading to Democratic Convention
“This is an extraordinary moment in American history,” Falls Church’s U.S. Rep. Donald S. Beyer Jr. stated in a post Tuesday as he prepared to head off to the Democratic National Convention in Chicago that begins Monday.
“Vice President Kamala Harris is the first woman of color to win a major party’s nomination for president, and next week I will be traveling to Chicago to stand beside her as she officially becomes the Democratic nominee.
“It cannot be overstated: This is a big deal,” he said.
“The incredible energy Kamala Harris and her running mate Governor Tim Walz have generated for Democrats has given us a golden opportunity to defeat Donald Trump and end the MAGA agenda and Project 2025 for good,” he added. “It is critical we unite as Democrats and work together in this historic moment.”
Knight Media Invests $5.4 Million for Newspapers
“We’ve invested $5.4 million to create the Knight Growth Challenge Fund, designed to support selected news outlets that have proven journalistic and business prowess and a solid business plan for sustainability,” said Tim Griggs, the Blue Engine Collaborative’s founder and CEO. “The fund will help support their efforts to expand into new markets and, in doing so, help fertilize news deserts and expand access to local journalism,” he said.
“Local news can thrive with the right mix of courageous, ambitious leadership, a team deeply in touch with community needs, deep digital capabilities, and the capacity to better serve new audiences,” said Griggs.
Kansas Newspaper Raid Draws Criminal Charges
A former central Kansas police chief who led a raid last year on a weekly newspaper has been charged with felony obstruction of justice and is accused of persuading a potential witness for an investigation into his conduct of withholding information from authorities, according to Editor and Publisher magazine.
The single charge against former Marion Police Chief Gideon Cody alleges that he knowingly or intentionally influenced the witness to withhold information on the day of the raid of the Marion County Record and the home of its publisher or sometime within the following six days. The charge was filed Monday in state district court in Marion County and is not more specific about Cody’s alleged conduct.
Trump Media Shares Nosedive to Lowest Level
Shares of Trump Media & Technology Group, the company behind former President Donald Trump’s Truth Social, neared their lowest level since debuting on the Nasdaq in March, following Trump’s return to rival social media platform X.
The company’s stock fell more than 3 percent to $24.01 at market open on Tuesday, trading at its lowest level since mid-April. Shares were already trending downwards after Trump Media reported a $16.4 million net loss in the second quarter and a 30 percent drop in revenues.
Paramount Global Plans To Layoff Force by 15%
Paramount Global has officially initiated long-planned layoffs as it looks to reduce its U.S.-based workforce by 15 percent. The first of three stages of staff reductions is beginning today, with 90 percent of the total cuts to be completed by the end of September. Paramount reported having 21,900 full- and part-time employees in 33 countries globally at the end of 2023, as well as 4,500 project-based staffers. Last February, the company let go of 3 percent of employees. The current rounds are expected to see up to 3,000 more employees depart.
The cuts are part of a corporate effort to generate annual run-rate cost savings of $500 million. Paramount implemented the February layoffs as it began to confront a number of financial challenges, mainly the impact of its declining cable TV business. Last week, in reporting second-quarter earnings, the company took a $6 billion write-down on its cable networks, joining industry peer Warner Bros Discovery in acknowledging the value destruction of that asset class.
