FCC Chairman Ajit Pai is under investigation for collusion. Last year, Pai and the FCC changed the law which dictates how many stations a TV broadcaster can own. This paved the way for Sinclair to buy Tribune Media for $3.9 billion. Now, investigators are looking into whether Pai improperly colluded with Sinclair to change these rules. Snap CEO Evan Spiegel is doubling down on the controversial app redesign after facing fierce backlash. At a conference, Spiegel said the widespread criticism actually validates Snapchat's mission. The update rolled out globally a few days ago and has faced sharp backlash from teens and even celebrity influencers like Chrissy Teigen. The new Snapchat separates friends and family from celebrities and media content. A petition to revert back to the old version has already picked up 1 million signatures.

Share:
More In Technology
EdTech Platform Multiverse Raises $220M to Expand Professional Apprenticeships
Tech apprenticeship platform Multiverse became a unicorn with a $1.7 billion valuation, after raising $220 million in a Series D round. As companies across the country face challenges in hiring and retaining tech talent, Multiverse says it's trying to offer a solution with a new way to train and hire workers that can serve as an alternative to college and corporate training. Sophie Ruddock, VP and GM North America of Multiverse, joins Cheddar News' Closing Bell to discuss.
Crypto Collapses Are an Ecosystem 'Stress Test,' Says Bitwise CIO
Bitcoin's price has fallen below $24,000, its lowest level since December 2020. Matt Hougan, CIO at Bitwise Asset Management, joined Cheddar News to discuss the future of crypto amid the latest high-profile point of concern, the halting of withdrawals at Celsius Network. "Last month we saw Luna collapse. This month we're seeing Celsius possibly collapsing," he said. "So this stress test is finding weaknesses in the crypto ecosystem and it will continue until we get to a strong foundation from which crypto can recover."
U.S. Stocks Close at Session Lows
U.S. stocks closed Thursday at their lowest levels of the trading day, as investors continue to eye inflation ahead of the May CPI report out Friday. Art Hogan, Chief Market Strategist for National Holdings, joins Cheddar News' Closing Bell to discuss.
Load More