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CBS News Was Just Taken Over By a Substack

3 months 1 week ago
Paramount has acquired The Free Press, Bari Weiss's Substack-born media outlet, for $150 million and appointed Weiss as editor-in-chief of CBS News. The move effectively places a conservative-leaning Substack writer at the helm of a legacy news network, following the FCC's approval of the Skydance-Paramount merger, which required CBS to feature a broader "diversity of viewpoints from across the political and ideological spectrum." The Verge reports: Before starting The Free Press, Weiss worked as an op-ed and book review editor at The Wall Street Journal from 2013 to 2017 and later became an op-ed editor and writer at The New York Times to expand the publication's stable of conservative columnists during Donald Trump's first term. She resigned from the NYT in 2020, citing an "illiberal environment." Weiss started a Substack newsletter in 2021, called Common Sense, which later evolved into The Free Press, touting itself as a media company "built on the ideals that were once the bedrock of great American journalism." As noted in the press release, The Free Press has grown its revenue 82 percent over the past year, while subscribers increased 86 percent to 1.5 million, 170,000 of which are paid subscriptions.

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AstraZeneca Signs Up For $555 Million AI Deal With Algen To Develop Therapies

3 months 1 week ago
AstraZeneca has licensed Algen Biotechnologies' AI-powered gene-editing platform, AlgenBrain, to develop immune-related therapies in a deal worth up to $555 million. Reuters reports: AstraZeneca will get exclusive rights to develop and sell approved therapies, if any, that target immune system-related disorders in exchange for upfront and milestone payments to Algen. AstraZeneca has been advancing its cell and gene therapy capabilities through acquisitions and partnerships as it works towards its target of $80 billion in sales by 2030. Globally too, drugmakers are increasingly turning to artificial intelligence for drug development. Monday's deal, however, does not include AstraZeneca buying a stake in the company, Algen CEO and co-founder Chun-Hao Huang told Reuters in an interview. "Together with AstraZeneca's deep expertise in translational science and clinical development, we aim to uncover new biological insights to accelerate the development of novel therapies," Huang said. Algen was spun out from the UC Berkeley lab where biochemist Jennifer Doudna pioneered the CRISPR technology that won her the Nobel Prize. The biotech firm's AI platform, AlgenBrain, can map genes to disease outcomes, helping the companies decide their development focus for targeted therapies.

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California Biotech Tycoon Found Guilty of Orchestrating Rival's Murder

3 months 1 week ago
California biotech entrepreneur and former magician Serhat Gumrukcu has been found guilty of orchestrating the 2018 murder of his business rival Gregory Davis, who had threatened to expose Gumrukcu's fraudulent dealings. He faces sentencing in November. SFGATE reports: Seven years ago, Turkish national Serhat Gumrukcu, 42, of Los Angeles, was negotiating a multimillion-dollar biotech merger built off his work on a supposed HIV cure. The deal was put in jeopardy by a former business partner named Gregory Davis, 49, who had threatened to bring legal action against Gumrukcu for fraudulent activities relating to a previous failed oil commodities deal, the U.S. Attorney's Office said in a news release last week. Gumrukcu, a magician-turned-scientist who admitted to buying his medical degree from a Russian university, lived in a Hollywood mansion and partied with Oscar winners and movie producers, according to VTDigger. He stood to make millions from the merger of his biotech company Enochian BioSciences. [...] In 2017, upon learning that Davis, a father of six from Danville, Vermont, could potentially spoil his fortune-making deal, Gumrukcu set in motion a hit on the former business partner. The murder-for-hire plot involved four men in total, prosecutors said. Gumrukcu had a close friend from Las Vegas, Berk Eratay, approach a third man, Aron Ethridge to find a hit man to kill Davis. The shooter, 37-year-old Montana man Jerry Banks, arrived at Davis' home on Jan. 6, 2018, in a vehicle fitted with flashing red and blue lights and posed as a deputy U.S. marshal. After abducting Davis, Banks shot him dead in the vehicle and left the body partially buried in a snowbank nearby. Investigators soon narrowed in on Gumrukcu after discovering emails between him and Davis revealing tensions over the failed oil deal. Gumrukcu was interviewed twice by the FBI and made false statements on both occasions, federal prosecutors said. Further inspection of cellphone data, bank information and messages identified the four men involved in the kidnapping and killing of Davis.

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