WarnerMedia And Discovery Merger Wins Government Approval 🎊
Scott D. Clary | Daily Business, Tech & Finance Newsletter
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WarnerMedia And Discovery Merger Wins Government Approval 🎊
The merger of WarnerMedia and Discovery to create the next content streaming has got one step closer as the deal has cleared an antitrust review from the U.S. government agencies, according to a filing with the U.S. Securities and Exchange Commission (SEC).
In May last year, AT&T said that it is spinning off its media business WarnerMedia and merging it with Discovery to create one of the biggest media conglomerates in the United States.
The merger will also help the company to compete with streaming companies like Disney, Netflix, among others.
Once completed, this deal will mark a major milestone in the media world, which the telecom company AT&T said is expected to close in the second quarter.
While AT&T does not require shareholder approval for the merger, it is waiting for shareholder approval from Discovery for the transactions to complete.
As part of this deal, AT&T will receive $43 billion in a combination of cash, debt securities, and debt retention on the part of WarnerMedia.
McDonald's Files Trademark Applications ™️ For Metaverse-Based Restaurants 🍔
American restaurant chain McDonald’s is the latest company to file for trademark applications for virtual goods, services, restaurants, cafes, and more as it looks to enter the growing trend of the virtual reality world.
The company has filed 10 separate applications including, McDonald's, McCafe, and golden arches word marks.
In addition, the restaurant giant also filed applications for cover services like ‘operating a virtual restaurant featuring actual and virtual goods’ and ‘operating a virtual restaurant online featuring home delivery’—which is how restaurants might operate in the metaverse.
Josh Gerben, a trademark attorney and founder of Gerben Intellectual Property, whose company tracks new trademark filings, first took note of the trademark applications on Twitter.
He said, “McDonald's is headed to the metaverse. The company has filed 10 (TEN!) trademark applications indicating it plans to offer "a virtual restaurant featuring actual and virtual goods" and "operating a virtual restaurant featuring home delivery."
McDonald’s submitted its trademark application on February 4, and it will have to wait for a few months (average nine and a half months) to get the required approval from US Patent and Trademark Office.
Reddit Launches a Web Version 💻 of Reddit Talk
Social news aggregator platform Reddit is rolling out new features to its audio chatting product Reddit Talk, to complete with the likes of Clubhouse and Twitter Spaces.
Reddit announced that it is now adding the ability to record and replay Reddit Talks on its platform.
Additionally, the company is also allowing users to participate or listen to live audio conversations through the web, a feature that was previously limited to Android and iOS users.
Reddit has also added support for comments and emojis during Reddit Talks to allow users to express their reactions.
Besides this, the company is testing a live bar on the top of the feed that will display when live Reddit Talks are taking place.
“Today we’re rolling out a number of new features for Reddit Talk, including: a recording function so community members can listen to Reddit Talks after they’ve happened, bringing the Reddit Talk experience to web users, the ability to interact with text and emojis during Talks, and a live bar experiment on the top of the feed that shows when live Reddit Talks are happening,” Reddit said in its announcement.
Tiger Global is Reportedly in Talks to Lead The Next Funding Round of GoMechanic 💰
Investment firm Tiger Global is reportedly in talks to lead the next financing round of multi-brand car service company GoMechanic at over $1 billion.
Founded in 2016, GoMechanic is an Indian-based startup providing an online car servicing platform intended to help people to schedule their car servicing online in the desired time.
The company offers services like denting and painting, exterior and interior car care services, cashless insurance repairs, and more, enabling users to service their cars in a hassle-free manner.
Currently, GoMechanic has more than 600 car repair workshops across 35 cities across India and services over 2 million cars annually.
The size of the proposed round Series D funding round is between $50 million to $80 million. However, the terms of the fundraising are yet to be finalized, so they can change.
While it’s still not public how GoMechanic plans to use the funds, the fresh proceeds will help the company to expand further into new geographies and ramp up its hiring for the technology team and launch operations in international markets.
Around the Web 🌐
Bitcoin Lightning Network Growth Capacity Caps at 3400 BTC: According to Arcane Research, the capacity of the Bitcoin Lightning Network has surged over the last three months to reach an all-time high capacity of 3,400-BTC. The Lightning Network grew from 1,000 to 3,000 BTC in just eight months in 2021, hitting the 3,000-BTC mark in mid-October.
Financial API Provider Brick Raises $8.5 Million in Seed: Brick, an Indonesian-based financial data application programming interface (API) provider, has raised $8.5 million in its seed funding round. The funding was led by Flourish Ventures and Antler and also saw participation from Trihill Capital, existing investors - Better Tomorrow Ventures, and Rally Cap Ventures, among other fintech operators.
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