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Trump Media CEO Devin Nunes to get $600K 'retention bonus' after company lost $58 million
Apr 07, 2024
Trump Media & Technology Group may have lost $4 billion in value since the stock plummeted on reports the company makes no money, but that hasn't kept the company's executives from raking in big salaries, bonuses and stock options as investors and analysts question the long-term viability of the parent company of Truth Social.Stock in the now-public technology company launched on Monday at $79.38 before going into a freefall all week and ending Friday at $40.49.A substantial reason for the collapse was attributed to an auditor's report that the company lost $58 million last year while only generating $4 million in revenue.ALSO READ: 11 ways Trump doesn’t become presidentAccording to a deep dive into executive compensation at the company, the Washington Post is reporting that CEO and president Devin Nunes, who left Congress to take a position with the fledgling company, is doing well despite the company's struggles.According to the report, Nunes made $750,000 in base salary last year which was bumped to a solid d $1 million this year. Along with a grant of 115,000 shares of stock in the company worth approximately $4.6 million, Nunes is also in line for a hefty bonus for sticking around after the massive 2023 losses.The Post is reporting, "Nunes, a former Republican congressman from California, also will receive a $600,000 lump-sum 'retention bonus' this month. A bonus agreement signed by Nunes said the money was designed to help “ensure the continuity” of Trump Media’s business."Nunes is not alone in benefiting mightily, with the report noting, "Dan Scavino Jr., a longtime Trump aide who led his White House’s social media operation and is now advising Trump’s presidential campaign, was paid $240,000 last year through a consulting agreement with his company, Hudson Digital. Scavino will also receive a $600,000 retention bonus this month. Trump Media also issued a $2.2 million 'executive promissory note' to Scavino. The company gave similar promissory notes to other executives, which automatically converted on the day of the merger into stock. The filings do not specify whether Scavino’s note was converted."You can read more about the salaries and bonuses paid to the Trump execs here.
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Sport
Gray Television’s BEAT THE ODDS and SportsGrid Launch Partnership for National Syndication of Five Sports Betting Specials
Apr 05, 2024
Gray Television Inc. “Gray” announces that Gray’s Emmy Award-winning Tupelo Media Group and Las Vegas station KVVU have teamed with SportsGrid FAST Channel to produce five major sporting event specials. The specials will be part of the “BEAT THE ODDS” nationally syndicated sports betting and entertainment television series produced by Tupelo Media Group and KVVU. The specials begin this weekend for college basketball and will also air on dozens of Gray’s television stations. The SportsGrid FAST Channel serves sports fans nationwide with live and exclusive programming featuring real-time news coverage of pre and in-game odds, data, stats, and gaming intelligence across the NFL, MLB, NBA, NHL, College Sports, and professional Golf, Tennis, and Soccer. SportsGrid’s insider analytics will power the specials’ statistical and data commentary with the latest pre-game opinion and analysis at the intersection between sports, media coverage and the betting perspective. BEAT THE ODDS’ special coverage will feature breaking news, information and expert gambling analysis from five major sporting events in 2024. BEAT THE ODDSHost Dave Hall will be joined by SportsGrid’s nationally-known commentators, as well as BEAT THE ODDS regulars Fat Jack (Jack Ross), Teddy Covers (Ted Sevransky) and reporter Mariah Janos. The team will provide insight on team matchups, injuries, odds, moneylines, and predictions. The SuperBook at the Westgate Las Vegas Resort and Casino will be the title sponsor for these BEAT THE ODDS specials. “With SportsGrid, we will partner with the best-in-class original programming, information, data, insight, and analysis including their strong roster of experts and contributors in the sports betting space,” says Michael Korr, co-creator of BEAT THE ODDS and General Manager of Gray’s KVVU-Fox 5 in Las Vegas. “Working with Tupelo Honey and Gray producing this type of premium content focused on major sports events furthers our relentless effort to serve the sports betting audience and fuels the continued growth of the SportsGrid brand with the right partners,” says Louis Maione, President and Founder of SportsGrid, Inc.
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