San Diego Union-Tribune Sold to New York-Based Hedge Fund (SDNews.com)
After five years of ownership, billionaire Patrick Soon-Shiong has sold the San Diego Union-Tribune to an affiliate of Denver-based newspaper publisher MediaNews Group for an undisclosed sum, according to company emails. Soon-Shiong and his family will maintain ownership of the Los Angeles Times, per media reports. MediaNews Group, formerly Digital First Media, is owned by Alden Global Capital, a New York hedge fund and the second-largest newspaper owner behind Gannett.
Prosecutors Accuse Sam Bankman-Fried of Leaking Ex-girlfriend’s Private Notes to the New York Times (CNN Business)
Federal prosecutors have accused former FTX CEO Sam Bankman-Fried of witness tampering after he allegedly leaked the personal writings of his former girlfriend and business partner, Caroline Ellison, to the New York Times. In a letter Thursday to US District Court Judge Lewis Kaplan, prosecutors accused Bankman-Fried of giving the New York Times Ellison’s writings to “interfere with a fair trial by an impartial jury.”
Friday 7/21 Insider Buying Report: SGMT, MLKN (Nasdaq.com)
On Tuesday, Sagimet Biosciences’ Director, Beth C. Seidenberg, made a $750,000 purchase of SGMT, buying 46,875 shares at a cost of $16.00 a piece. Bargain hunters are able to bag SGMT at a price even lower than Seidenberg did, with the stock trading as low as $15.73 at last check today — that’s 1.7% under Seidenberg’s purchase price. Sagimet Biosciences is trading up about 0.6% on the day Friday. And at MillerKnoll, there was insider buying on Tuesday, by Director Michael A. Volkema who bought 13,584 shares for a cost of $16.95 each, for a trade totaling $230,246. MillerKnoll is trading up about 4.4% on the day Friday. Volkema was up about 9.4% on the buy at the high point of today’s trading session, with MLKN trading as high as $18.55 in trading on Friday.
Over $27M Bet On This Consumer Cyclical Stock? Check Out These 3 Penny Stocks Insiders Are Aggressively Buying (Benzinga)
Muscle Maker: The Trade: Muscle Maker, Inc. (GRIL) 10% owner Aggia FZ LLC acquired a total of 8,855,452 shares an average price of $3.12. To acquire these shares, it cost around $27.63 million. VBI Vaccines: The Trade: VBI Vaccines Inc. (VBIV) Director Steven Gillis acquired a total of 609,090 shares at an average price of $1.65. To acquire these shares, it cost around $1 million.
Three Plead Not Guilty to Insider Trades Before Trump Media Deal (Reuters)
(Reuters) – A Florida venture capitalist, his brother and an employee accused of insider trading before a blank check company’s proposed merger with former U.S. President Donald Trump’s social media company pleaded not guilty in a New York court on Thursday. Michael and Gerald Shvartsman, and Bruce Garelick were charged last month with trading illegally in Digital World Acquisition Corp, a special purpose acquisition company, before it announced its plan to combine with Trump Media & Technology Group in late 2021. The merger, which would take Trump Media public, has yet to occur.
