Welcome back to irl Media NEWS. The only newsletter bringing you the business behind the news, with a healthy dose of sarcasm.

In today’s newsletter we discuss:

Johnny Depp Is Buying An Italian Castle

Meme stocks are back

$13 Billion for new Doomsday planes

George Clooney is heading to Broadway

Charles Leclrec buy new Miami crib

Flavor Flav hypes U.S. Women’s Olympic Water Polo team

Scroll on!

FROM THE EDITOR

Last week we introduced our redesigned newsletter, and it seems a lot of your love it, because we had a record number of opens.

We’re still tweaking a few things, and would love to add more interactive elements to the newsletter in the coming months.

Because I love a good poll, I figured I’d ask you what you think of the new newsletter.

YOUTUBE

Johnny Depp Is Buying An Italian Castle

BUSINESS

Meme stocks are back, and one specific meme stock in particular has been surging

I’m talking about GameStop, which rose to prominence thanks to ‘Roaring Kitty’ and Reddit’s ‘Wallstreetbets’ faze during the Covid lockdown era.

Once again the meme stock GME is costing short sellers a pretty penny, to the tune of over $1 Billion dollars in losses just from a few days of the stock running up in value. Then again, no one ever feels bad for costing short sellers!

Why is all this happening again?

You can attribute the recent volatility in GameStop to a single tweet sent out by Roaring Kitty on May 12 that shows a gamer sitting up, as if to say the GameStop has Roaring Kitty’s attention again, or at least that’s how his fandom have reacted.

It’s not just GameStop whose stock is on fire lately. All the usual suspects of meme stocks have seen their prices rise, including AMC and newly IPOed Reddit.

And it’s not like GameStop’s financials have turned around, in fact the company is probably doing worse than ever.

According to Wedbush analyst Michael Pachter who covers GameStop he said in an interview with CNBC “I don’t know of anything fundamental that would drive the stock this high. They are not in a position to be profitable. They made $6 million last year and burned cash, and we expect them to lose $100 million a year going forward.”

So that doesn’t sound like positive news that would drive the stock higher.

Could it be that a single tweet after years of silence, from the unofficial leader of inflicting pain on short sellers, could be responsible for driving up GameStop’s stock price by more than 150% in a single week?

Welcome to meme stocks!

If you need a refresher on the whole GameStop/meme stock era all you have to do is watch the 2023 movie “Dumb Money”, which cronicle’s “Roaring Kittys” battle with billionaire investors like Gabe Plotkin’s Melvin Capital who lost so much money it had to shut down, and Ken Griffin’s Citadel, which also lost billions shorting GameStop.

Speaking of good timing, AMC decided the recent run up in their stock price by 30% presented a great opportunity to sell additional shares in the company to raise $250 million in desperately needed cash. Just how poorly have things been going over at AMC? Well, in 2023 the company had a net loss of $318.8 million dollars, which if you want to look on the bright side is an improvement year-over-year because in 2022 they lost $409.1 million dollars. So things are getting “better” if you will, but when you’re losing hundreds of millions of dollars a year, and consumers aren’t coming back to the movies like they did in the “before times”, then you have some financial issues you’re probably going to want to take care of soon.

GameStop jumps 70% as trader ‘Roaring Kitty’, who drove meme craze, posts againH

TECH

Guess who’s getting $13 billion dollars from Uncle Sam?

The U.S. Air Force just handed Sierra Nevada a cool $13 billion dollars to build a new “Doomsday plane.” Because, you know, having a flying fortress to survive nuclear Armageddon is still a top priority.

This project, intended to replace the aging E-4B fleet, and will hopeful be completed by 2036; because government projects are known for finishing on time and never go over budget.

Meanwhile, Boeing, the usual go-to for such extravagances, got kicked to the curb. You think it might have something to do with their airplane’s doors falling off, or their Starliner spaceship having more issues than NFL players in the offseason.

So, cheers to Sierra Nevada for scoring the gig of a lifetime to create an airborne apocalypse bunker.

US Air Force awards $13 billion Doomsday plane contract to Sierra NevadaH

ENTERTAINMENT

George Clooney is set to make his Broadway debut with an adaptation of his 2005 film, ‘Good Night, and Good Luck’

George Clooney is set to make his Broadway debut with an adaptation of his 2005 film, ‘Good Night, and Good Luck’, which he wrote, directed, produced, and was one of the lead actors in the film. This move marks an exciting expansion of George Clooney’s already impressive career in film and television. The original movie is a historical drama that focuses on the famous 1950s clash between broadcast journalist Edward R. Murrow and Senator Joseph McCarthy, a conflict arising from McCarthy’s aggressive anti-Communist investigations.

The film, which starred David Strathairn as Edward R. Murrow was praised for its tight direction, historical accuracy, and the intense, atmospheric black-and-white cinematography that mirrored the era it depicted.

Shot in black-and-white to evoke the period’s television news style, ‘Good Night, and Good Luck’ emphasizes themes of journalistic integrity, bravery, and the responsibility of the press to challenge power. The film intersperses archival footage of McCarthy to maintain historical authenticity, further grounding the drama in real events.

The film was critically acclaimed, receiving an approval rating of 93% on Rotten Tomatoes and a score of 80 on Metacritic, indicating generally favorable reviews. David Strathairn’s portrayal of Edward R. Murrow earned critical acclaim, and the film itself garnered several Academy Award nominations, including Best Picture, Best Director, and Best Original Screenplay.

When the film ‘Good Night, and Good Luck’ was released it was a modest success financially, bringing in $31,558,003 in the U.S., and $23,083,188 internationally, for a total of $54,641,191 worldwide.

The Broadway adaptation of ‘Good Night, and Good Luck’ will retain the essence of the film, focusing on the crucial themes of media integrity and political accountability. These themes remain highly relevant, resonating with contemporary audiences concerned about media manipulation and political power. The play will bring the intense newsroom dynamics and the moral courage of Edward R. Murrow and his team to the stage, highlighting the timeless struggle for truth in journalism.

George Clooney’s involvement in bringing ‘Good Night, and Good Luck’ to Broadway underscores his commitment to storytelling that addresses important social and political issues. By adapting this significant piece of his filmography for the stage, George Clooney aims to reach a new audience with a powerful message about the role of the press in holding power to account. This debut is highly anticipated not only because of George Clooney’s star power but also due to the enduring relevance of the story’s themes, especially in the modern times of 2024.

The Broadway adaptation will likely attract significant attention, given George Clooney’s stature in the entertainment industry and the critical success of the original film. It also represents a continuation of Geroge Clooney’s efforts to engage with pressing societal issues through his work, a hallmark of his career both in front of and behind the camera.

George Clooney’s broadway debut of ‘Good Night, and Good Luck’ promises to not only showcase Clooney’s versatility as a storyteller, but also emphasizes the ongoing relevance of Edward R. Murrow’s battle for journalistic integrity in today’s media landscape.

George Clooney to Make Broadway Debut in ‘Good Night, and Good Luck’

REAL ESTATE

Charles Leclerc snaps up luxury condo in Miami

One of my favorite F1 drivers Charles Leclerc just made another power move off the track by snapping up a luxury condo in Miami’s Edgewater neighborhood. After an impressive third-place finish at the Miami Grand Prix, Charles decided to celebrate by investing in a yet-to-be-built condo at the Edition Residences. This stunning waterfront high-rise claims its going to redefine luxury living with its sleek, prism-shaped design and a host of high-end amenities.

Charles Leclerc’s new pad will be in the 55-story tower featuring units that range from 1,900 to 3,700 square feet, with prices starting around $3 million. I’m guessing Charles signed up for one of the largest units they had available, and with a salary of $33 million dollars per year plus endorsement deals from Ray-Ban, Giorgio Armani, and EA Sports he can certainly afford it.

These condos boast open-plan living spaces, high ceilings, and floor-to-ceiling windows offering breathtaking views of Biscayne Bay. And let’s not forget the top-notch amenities like a cabana-lined pool, yoga studio, pickleball courts, a cinema, and even a high-tech racing simulator—perfect for an F1 driver!

Construction is expected to begin later this year, with completion in about three years. I wonder if Formula 1 photographer Kym Illman could work out a tour of Charles Leclerc’s new pad in the style of MTV Cribs.

While Charles Leclerc waits for his new Miami condo to be finished he’s far from homeless. The Ferrari driver lives in his home principality of Monaco in a multi-million dollar condo. While not much is known about his Monte Carlo crib, news has leaked out that Charles owns a white grand piano in the living room, which he’s surrounded by several of his trophies and helmets chronicling his racing career.

F1’s Charles Leclerc Snaps Up a Condo at One of South Florida’s Ritziest New Towers

SPORTS

Flavor Flav become the official hype man for the U.S. Women’s Olympic Water Polo team

In news that I can safely say no one saw coming, Flavor Flav, the iconic hype man of Public Enemy fame, has become the official hype man for the U.S. Women’s Olympic Water Polo team as they head to the 2024 Paris Olympics. Yes, the man known for his oversized clocks and exuberant shouts of “Yeah, boyee!” is now the cheerleader for a sport most people only remember exists every 4-years during Olympic broadcasts.

It all started when Maggie Steffens, the team captain, posted on Instagram, bemoaning the lack of support and recognition for her gold-winning team. Naturally, the universe responded with Flavor Flav, who, upon seeing the post, decided to lend his star power and enthusiasm to water polo. After all, if there’s one thing water polo needs, it’s the high-energy antics of a hip-hop legend from the 80s and 90s.

Flavor Flav, now 65, is fully embracing his new role, promising to be the “biggest hype man they ever had in their life,” and intends to cheer them on to victory. He’s also busy on social media, highlighting the team’s players and planning to be at the games in Paris to boost morale with his legendary energy. The image of him shouting “USA! USA!” poolside is bound to be a historic moment in Olympic history.

Flavor Flav, was born William Jonathan Drayton Jr. on March 16, 1959, is an American rapper, hype man, and television personality known for his distinctive personality and vocal style. He gained fame as a founding member of the influential hip-hop group Public Enemy, which he co-founded in 1985 with Chuck D. The group is renowned for its politically charged lyrics and social commentary, making significant impacts on both music and culture.

Public Enemy was a pioneering American hip hop group formed in 1985 by Chuck D and Flavor Flav in Long Island, New York. Known for their politically charged lyrics and criticism of the American media, they aimed to raise consciousness about social issues affecting the African American community.

The group’s debut album, “Yo! Bum Rush the Show” (1987), introduced their aggressive style and socially conscious messages. However, it was their second album, “It Takes a Nation of Millions to Hold Us Back” (1988), that catapulted them to fame. This album, often cited as one of the greatest in hip hop history, included tracks like “Don’t Believe the Hype” and “Bring the Noise,” which combined complex beats with politically charged content. 

Flavor Flav’s flamboyant persona is marked by his energetic stage presence, his signature oversized clock necklaces, and his memorable catchphrases. He often served as the comic foil to Chuck D’s serious demeanor, contributing significantly to the group’s dynamic. Public Enemy’s groundbreaking albums, such as “It Takes a Nation of Millions to Hold Us Back” and “Fear of a Black Planet,” are considered classics in the genre, with Flav’s contributions being integral to their success.

Beyond his music career, Flavor Flav became a notable figure in reality television. He appeared on shows like “The Surreal Life,” “Strange Love,” and “Flavor of Love,” which further cemented his status as a pop culture icon. “Flavor of Love,” in particular, was a hit VH1 series that featured Flav’s quest for romance and helped revive his public image.

Meanwhile, U.S. Women’s Olympic Water Polo team captain Maggie Steffens finds the situation surreal, especially since her Instagram plea for more attention to water polo led to such an unconventional alliance. Her family and teammates are equally bemused, with Steffens even feeling inspired to don a clock necklace herself.

It’s not just Flavor Flav who’s showing support. The team also has Taylor Swift in their corner, adding a layer of star power to their Olympic journey. The U.S. team attended Swift’s Eras Tour, further proving that sometimes, all you need is a bit of celebrity endorsement to make waves in the world of niche sports.

So, prepare yourselves for the 2024 Paris Olympics where the splashes in the water will be rivaled only by the exuberant cheers of Flavor Flav. Who knew that the path to gold in water polo would be paved with hip-hop beats and oversized clocks? Stay tuned for what promises to be the most entertaining Olympic water polo cheering section ever.

Flavor Flav is the official hype man for the U.S. women’s water polo team in the Paris Olympics

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— Chris Thompson

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