The news: Legacy news is facing mounting threats after President Trump suggested on Truth Social that ABC and NBC could have their broadcast licenses revoked. Accusing the networks of serving as “AN ARM OF THE DEMOCRAT PARTY,” the news follows a string of scrutiny against public broadcasting from the current administration—and has implications for the advertisers that rely on these channels. Our take: As news channels face more scrutiny, advertisers are being forced to reconsider where they spend—but political volatility still needs to be weighed against long-term loyalty among key demographics.

Musk’s embrace of the far-right could hurt Twitter’s turnaround efforts: The amplification of far-right voices is likely to keep liberal and moderate users, as well as some advertisers, on the sidelines.