CF VI (CFVI) Jumps on Rumble’s Joe Rogan Tweet
by Nicholas Alan Clayton on 2022-02-07 at 12:24pm

CF VI (NASDAQ:CFVI) is up about 19% in midday trading following a tweet by its target, social media platform Rumble, that it is working to lure podcast host Joe Rogan to the platform.

The tweet is a screenshot of a document sent by its CEO to Rogan offering “100 million bucks” over four years for him to transfer his show to Rumble from Spotify (NYSE:SPOT). While the missive’s last sentence is “And yes, this is totally legit,” it is not clear whether any thing will come of the tweet or the document.

Rogan signed a multi-year exclusive licensing agreement with Spotify in May 2020, reportedly worth more than $100 million and there has not yet been any indication that Spotify would let go of that exclusivity. The relationship between the host and platform has been rocky in recent weeks, however.

Beginning in late January, a number of artists including Neil Young, Joni Mitchell and David Crosby have announced they are pulling their own catalogues from Spotify in protest of Rogan’s on-air remarks characterized as vaccine misinformation. Although Spotify publicly stood with Rogan through this wave, the platform then removed about 100 past episodes of Rogan’s show in which he used racial slurs or other objectionable language.

Rumble’s offer to the host includes a pledge of “no censorship” noting that the platform stands with Rogan and his “desire for real conversation.” Parallel to CF VI’s rise in the markets today, Spotify is also down about 2.8%, adding to a slide that began in November.

It remains to be seen whether any shows will be going anywhere, but for Rumble to at least make the offer is in line with its brand, purporting to offer a free speech haven that in particular features conservative voices that have been booted from mainstream platforms. The enthusiasm has trickled over to SPACs with pending combinations with similar conservative causes.

Digital World (NASDAQ:DWAC), which is merging with the upstart Trump Media & Technology Group, is up 9%, while Digital World Chairman and CEO Patrick Orlando’s other SPAC, Benessere Capital (NASDAQ:BENE) is also feeling the love, up about 0.2%.

But, just as Spotify is taking the hit in this phase week’s episode of the “free speech” debate, it is yet to be seen how well platforms like Rumble and Trump Media’s upcoming platform Truth Social will walk their own tight ropes with the partners they themselves depend on to thrive.

Today also brought news that Trump Media is already working with developers to make sure that it will not get booted for violating the terms of the Apple (NASDAQ:AAPL) and Google (NASDAQ:GOOG) app stores. It has signed on Hive, a company that “does AI-based content moderation, to flag sexually explicit content, hate speech, bullying and violent content,” according to a Reuters report.

 

Recent Posts
by Nicholas Alan Clayton on 2024-06-12 at 10:12am

Perceptive Capital Solutions Corp announced the pricing of its $75 million IPO and its shares are expected to begin trading on the Nasdaq under the symbol “PCSC”, Wednesday, June 12, 2024. The new SPAC intends to focus its target search on the North American and European life sciences and medical technology sectors where its management...

by Nicholas Alan Clayton on 2024-06-12 at 8:23am

At the SPAC of Dawn The ARYA team has been among the SPAC market’s most steady dealmakers and they dropped a new presentation this morning for ARYA Sciences IV‘s (NASDAQ:ARYD) pending combination with medical device manufacturer Adagio Medical. Much of the deck rehashes already released information, but it has given more texture on how the...

by Nicholas Alan Clayton on 2024-06-11 at 12:22pm

EQV Ventures (NYSE:EQV.U) is the largest SPAC to file since April 2023 as it seeks a $350 million IPO that reflects the ongoing experimentation in underwriting approaches over the last two months of 2024. It is BTIG’s first new SPAC filed for 2024, and it is structured to compensate the firm in a unique way....

by Nicholas Alan Clayton on 2024-06-11 at 8:14am

At the SPAC of Dawn As both SPAC and traditional-way IPO activity picks back up in 2024, SPAC teams might want to brush up on their Spanish as they compete for targets. Spain has not traditionally been considered a tech innovation hotbed, but the combined enterprise value of Spanish startups hit €100 billion last year,...

by Nicholas Alan Clayton on 2024-06-10 at 8:08pm

Centurion Acquisition Corp announced the pricing of its $250 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “ALFUU”, Tuesday, June 11, 2024. The new SPAC aims to combine with a technology company with a focus on video gaming, interactive entertainment and enabling services and technologies, cybersecurity, artificial...

logo

Copyright © 2023 SPACInsider, Inc. All Rights Reserved