SEC Showbiz and Celebrity Breaking News

Todd Spangler NY Digital Editor UDPATED: A Delaware judge granted mega-billionaire Elon Musk’s motion to halt Twitter’s upcoming trial — seeking to compel him to pay what he promised for the company — until Oct. 28 in order to allow the parties to close on the $44 billion deal. Musk, after trying for three months to exit his deal to buy Twitter, in the last few days has grown frustrated that Twitter wasn’t calling off its lawsuit. Lawyers representing Musk, in a filing Thursday with the Delaware Court of Chancery, requested that the trial, slated to commence Oct. 17, be suspended while he works out a deal to finalize the required debt financing to swing the acquisition. Musk expects that to happen by Oct. 28, per the court filing.

sent a letter suggesting they close the deal at the agreed-upon price of $54.20 per share. Twitter ostensibly accepted those terms – but for reasons that aren’t yet clear is dragging its feet on vacating the lawsuit to enforce them.“Astonishingly, they have insisted on proceeding with this litigation, recklessly putting the deal at risk and gambling with their stockholders’ interests,” according to Musk’s filing.Filed in a chancery court in Delaware, the suit seeks to enforce the contract sale that Musk tried to back out of over his concerns about the number of spam accounts among Twitter’s nearly 400 million users.To recap: When Musk first expressed interest in buying Twitter, leadership flew into a panic and introduced a poison pill provision to stop him.

Kim Kardashian could face a "speed bump" in her efforts to become a lawyer after being fined by the US Securities and Exchange Commission. The 41-year-old star recently agreed to pay a $1. 26 million fine for advertising the cryptocurrency EthereumMax on her Instagram page, and Andrew Stoltmann, a professor of securities law at Northwestern University, has suggested that it could hinder Kim's career ambitions.

and paid a fine because her cryptocurrency influencing was not exactly legal. The and paid the Security and Exchange Commission (SEC) a fine of $1.26 million to settle a dispute over an ad for cryptocurrency EthereumMax she posted on Instagram.  reports that the SEC charged with “failure to disclose that she was paid $250,000 to publish her Instagram post.” According to the SEC, Kardashian “violated the anti-touting provision of the federal securities laws.” Kardashian posted the ad for EthereumMax on Instagram Stories in June of 2021.

Kim Kardashian will pay a $1.26m (£1.12m) fine after advertising the cryptocurrency EthereumMax on Instagram. Kim, 41, received $250,000 for advertising the cryptocurrency, but did not disclose that she had been paid to tout the crypto asset, it has been revealed.

Kim Kardashian may be a lawyer(ish), but she lost this legal battle!

Paying the price. Kim Kardashian agreed to give more than $1 million to the U.S. Securities and Exchange Commission amid an ongoing investigation regarding her promotion of cryptocurrency brand EthereumMax.

Kim Kardashian is paying $1.26 million in a settlement agreement with the Securities and Exchange Commission amid charges that she unlawfully touted a cryptocurrency without disclosing she was being paid for the promotion.Kardashian is paying the settlement without admitting to or denying the SEC's findings, the agency said on Monday. She also agreed to not promote any crypto asset securities for three years.The agency said Kardashian will cooperate in its ongoing investigation.The fine is linked to a cryptocurrency called EthereumMax, or EMAX, which was pitched to investors as a disruptive new cryptocurrency.

Kim Kardashian's influencing has gotten her in trouble. The star has agreed to pay millions of dollars to the U.S.

Kim Kardashian will pay $1.26 million and has agreed not to promote any crypto securities for three years to settle charges with the SEC that she didn’t disclose payments for touting assets that were offered and sold by EthereumMX.

Kim Kardashian has been charged for being unlawful.

Kim Kardashian has reached a settlement with the SEC for promoting cryptocurrency without disclosing she was paid to do so. The influencer will pay $1.26 million.According to the SEC’s order, Kardashian didn’t inform them that she was paid $250,000 to promote EMAX tokens, the cryptocurrency offered by EthereumMax, on her Instagram account.

Todd Spangler NY Digital Editor Kim Kardashian agreed to pay $1.26 million to settle charges by the Securities and Exchange Commission that she touted a crypto asset security without disclosing the payment she received for the promotion, the agency said. Under the settlement, without “admitting or denying the SEC’s findings,” Kardashian also agreed to not promote any crypto asset securities for three years, per the agency. According to the SEC’s order, Kardashian failed to disclose that she was paid $250,000 to publish a post on her Instagram account about EMAX tokens, the crypto asset security being offered by EthereumMax. Kardashian’s post linked to the EthereumMax website, which provided instructions for potential investors to purchase EMAX tokens.

Kim Kardashian has been ordered to pay a hefty sum after she promoted “a crypto asset security offered and sold by EthereumMax without disclosing the payment she received for the promotion.”

reported 9.99 million pay-TV subscribers by the end of June 2022, including 7.79 million Dish TV subscribers and 2.20 million Sling TV subscribers.Here’s the full list of Disney-owned networks affected by the blackout: ESPN, ESPN2, ESPNU, ESPNews, ESPN Deportes, Disney Channel, Disney Jr., Disney XD, Freeform, FX, FXX, FXM, National Geographic, Nat Geo Wild, Nat Geo Mundo, ACC Network, SEC Network, Longhorn Network and Baby TV.

A McDonald's customer was left delighted after peeling back her promotional Monopoly sticker to reveal the "best prize ever". While some have dreams of winning a new car - or even just a free Big Mac - the woman felt she had truly hit the jackpot with her unusual win.

Lionsgate today confirmed today that it remains on track to separate Starz and its studio business despite volatile markets noting that it’s now focusing on spinning out the studio, instead of the other way around.

Todd Spangler NY Digital Editor Lionsgate is now looking at spinning off its studio business — rather than kicking out the Starz premium network and streaming business. The company, in an SEC filing Wednesday, said that “Despite the volatile market environment” Lionsgate remains “on a path to separating our Starz and studio businesses.” However, Lionsgate is increasingly focused on divesting the studio side of the house. “As negotiations progress, we have increased our focus on the possibility of spinning our studio business, creating a number of financial and strategic benefits,” the company said in an SEC filing Wednesday. “In that regard, we are continuing productive negotiations with prospective strategic and financial partners on both sides of our business.”

The U.S. Securities and Exchange Commission has sued former top execs at MoviePass and its parent company, Helios + Matheson, for fraud.

Gene Maddaus Senior Media Writer MoviePass was founded on a lie, the Securities and Exchange Commission alleged in a complaint filed on Monday night. The company introduced its $9.95-a-month, all-you-can-watch subscription plan in August 2017. According to the complaint, executives Theodore Farnsworth and Mitch Lowe knew that the offer was just a “marketing gimmick” and that the price was unsustainably low. But in public, they claimed that they had done rigorous market testing and determined they could turn a profit. In fact, they had done no testing, the SEC said. Asked by Variety if the company would eventually have to raise its prices, Farnsworth said, “The answer is no.” Critics, he went on, “don’t understand our business model.”

MoviePass shut down in September 2019, and the service, along with Helios and Matheson filed for bankruptcy protection in January 2020. Last year, founder Stacy Spikes bought the company out of bankruptcy, and the service relaunched on Labor Day.The suit, filed in the U.S.

Giant theater chain AMC Entertainment filed today to sell up to 425 million AMC Preferred Equity Units, or APEs, its new securities that have seen a price collapse amid a sour market and investor backlash.

Netflix’s new principal accounting officer Ken Barker, who began in his role on June 27, is exiting the streamer early next month, the company disclosed in an SEC filing Friday. The filing says that Barker filed his resignation on Thursday and that his exit will be effective Oct.

Ken Barker, the principal accounting officer at Netflix, has resigned from the company just three months after he arrived.

Total executive compensation declined for top executives at Fox Corp. in fiscal 2022, compared with a year earlier, according to an SEC filing.

SEC filing. These marked downgrades from $31.1 million and $27.7 million, from the year prior. Also revealed in the SEC filing Friday was that Lachlan signed a contract extension last year that will see him continue to lead Fox Corp.

Passionflix, a romance-focused streaming service run by Elon Musk’s sister, Tosca Musk, has raised $9.4 million in a funding round led by AMC Networks.

Warner Bros. Discovery’s David Leavy has inked a new three-year contract as Chief Corporate Affairs Officer with the David Zaslev-led media conglomerate, Deadline has confirmed.

Todd Spangler NY Digital Editor Senior Twitter executives deceived regulators — and the company’s own board — about lax security standards and its efforts to fight spam bots, according to an SEC complaint filed by the social network’s former head of security. Twitter fired Peiter “Mudge” Zatko in January 2022, a little more than a year after he was hired in November 2020 as head of security. The exec claims his termination was in retaliation for his refusal to stay quiet about the company’s vulnerabilities. Last month, Zatko filed a complaint with the SEC accusing Twitter of misleading shareholders, alleging it failed to disclose “extreme, egregious deficiencies” in its security practices to investors. He also alleged in an FTC complaint that the company violated a 2010 agreement with the agency to protect user data.

via an SEC filing on Thursday.In the SEC filing Penn said the purchase “is expected to be completed in February 2023, after which Barstool will be a wholly-owned subsidiary.”The acquisition comes almost 3 years after the January, 2020 deal in which Penn — at the time known as Penn National Gaming — acquired 36% of Barstool in a deal that included the option to buy the entire company outright.The 2020 deal cost Penn $163 million; according to Bloomberg, Penn will pay a total of $387 million for the rest, split between two payments.Penn raked in $1.6 billion in revenue during the first fiscal quarter of 2022.

back out of his agreement to purchase Twitter, the CEO sold almost $7 billion in Tesla stocks on Tuesday. He says the move was made to “avoid an emergency sale of Tesla stock” down the line.In new filings this week, it was revealed that Musk sold nearly eight million shares of Tesla stock, which were worth about $6.9 billion.

NBC News.Last month, Musk announced that he was pulling out of the deal he struck in April, prompting Twitter to sue. Musk had claimed in an SEC filing that the company had failed to disclose information about the number of spam users and fake accounts it hosts.

In the latest volley of tweets in the Elon Musk/Twitter purchase saga, the entrepreneur threw down a challenge today: either Twitter provide its method of sampling 100 accounts and how it confirmed that the accounts are real, or the deal is canceled.

Warner Bros. Discovery Friday detailed its charges for the second quarter that included a combined $825 million hit on the content side, including $496 million for content impairment and $329 million for content development write-downs, as well as $208 million for employee terminations for the three months ended June.

Vince McMahon’s retirement announcement last week, the WWE will revise financial statements dating back to 2019. According to the organization, almost $15 million of payments made by McMahon should’ve been recorded as expenses.In an SEC filing this week, the company noted that it it “has made a preliminary determination that certain payments that Vince McMahon agreed to make during the period from 2006 through 2022 (including amounts paid and payable in the future), and that were not recorded in the WWE consolidated financial statements, should have been recorded as expenses in the quarters in which those agreements were made.”According to the WWE, the aggregate amount of the payments during this period totals $14.6 million, and all payments were or will be paid by McMahon personally.

Houston Texans’ rookie wide receiver John Metchie III revealed he has been diagnosed with leukemia and will not be playing in the NFL this season.