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Substack Seeks to Raise $65 Million in Investments

With Substack’s popularity growing since its foundation in 2017, the company seeks to raise $65 million in investments to capitalize on its platform’s popularity.

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The coronavirus pandemic resulted in many journalists being laid off or furloughed while others sought to become their own bosses.

As a result, some took the opportunity to distribute their content via Substack. It’s a medium that allows writers to produce their newsletters and content and get paid for it by their audience.

With Substack’s popularity growing since its foundation in 2017, the company seeks to raise $65 million in investments to capitalize on its platform’s popularity.

Andreessen Horowitz leads the $65 million round of venture capital funding that might boost the company’s value to $650 million, Axios reported.

“When readers pay writers directly, writers can focus on doing the work they care about most. A few hundred paid subscribers can support a livelihood. A few thousand makes it lucrative,” Substack says on its website.

“We believe that writers, bloggers, thinkers, and creatives of every background should be able to pursue their curiosity, generating income directly from their own audiences and on their own terms.”

Horowitz refused to comment, while Substack hasn’t yet replied to Axios’ requests.

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YouTube Channel for Sebastian Gorka Taken Down

“In accordance with our long-standing strikes system, we terminated the channel ‘America First with Sebastian Gorka’ for repeated violations of our presidential election integrity policy,” said YouTube spokesperson Ivey Choi.

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Political commentator Sebastin Gorka’s YouTube channel has been terminated, according to a company spokesperson. The nationally syndicated host reportedly violated the company’s policy on election integrity.

Gorka’s radio show is distributed via Salem Radio Network live from the 3:00 pm to 6:00 pm ET daypart.

“In accordance with our long-standing strikes system, we terminated the channel ‘America First with Sebastian Gorka’ for repeated violations of our presidential election integrity policy,” said YouTube spokesperson Ivey Choi. “As we’ve publicly shared, our presidential election integrity policy prohibits content uploaded after last year’s safe harbor deadline that alleges widespread fraud or errors changed the outcome of the 2020 U.S. presidential election.”

Gorka was an advisor to candidate Donald J. Trump and served on the staff of the White House in 2017 as Deputy Assistant to the President for Strategy.

“Any channel that violates this policy will receive a strike and channels that receive three strikes in the same 90-day period are permanently removed from YouTube, as in the case of America First with Sebastian Gorka.”

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Vox Media Acquires Cafe Studios

Cafe Studios’ content examines “how law and policy intercross with politics, news, business, history, and technology.” Now their eight podcasts will head to the Vox Media Podcast Network, one of the largest and fastest-growing mass media outlets.

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Vox Media announced in a press release that it would be acquiring Cafe Studios, which is co-founded by former U.S. Attorney for the Southern District of New York Preet Bharara and his brother Vinit Bharara.

Cafe Studios’ content examines “how law and policy intercross with politics, news, business, history, and technology.” Now their eight podcasts will head to the Vox Media Podcast Network, one of the largest and fastest-growing mass media outlets.

“Preet and his team at Cafe have built a successful podcast studio with a compelling perspective — and an equally impressive community of devoted listeners,” Vox Media Chairman, CEO, and co-founder Jim Bankoff said.

“Bringing Cafe into the Vox Media Podcast Network is aligned with our goal of delivering high-quality editorial content at scale and providing audiences highly relevant voices and insights.”

Cafe will function as part of the Vox Media Podcast Network with the former U.S. Attorney for the Southern District of New York and Executive Producer and Head of Content Tamara Sepper joining Vox Media.

Besides Bharara and Sepper, other podcast hosts, producers, and product developers will jump onboard the mass media company.

“This is an opportunity for tremendous growth with a company that shares in Cafe’s mission, values, and commitment to quality,” Bharara said.

“Our creators are bursting at the seams with plans for more thoughtful, educational content and, in Vox Media, we earn a partner with a large audience, strategic business, and a strong reach across text, video, and events.”

When it came to the detail of the financial agreement to the deal, terms weren’t disclosed.

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Reuters News Names New Editor in Chief

Alessandra Galloni will become the first woman to head the globe-spanning news agency in its 170-year history. The Rome-native is replacing the soon-to-be-retired Stephen J. Adler, who led the newsroom for the past decade.

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Reuters News is under new leadership as the media outlet announced in a press release that one of its top editors Alessandra Galloni as its next editor-in-chief.

Galloni will become the first woman to head the globe-spanning news agency in its 170-year history. The Rome-native is replacing the soon-to-be-retired Stephen J. Adler, who led the newsroom for the past decade.

“For 170 years, Reuters has set the standard for independent, trusted, and global reporting,” Galloni said. “It is an honor to lead a world-class newsroom full of talented, dedicated, and inspiring journalists.”

One of Galloni’s first tasks will have on her desk as the new editor-in-chief is to maintain a good relationship with Refinitiv.

The financial market data and infrastructure company were Reuters’ most significant customer. Last year Refinitiv accounted for more than half of the news agency’s $628 million in revenues.

April 19th will mark Galloni’s first day as editor-in-chief of Reuters News.

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