IAC’s push to acquire Meredith, Boppy baby pillow recall, Twitter enables Bitcoin tips

Yahoo Finance's Julie Hyman breaks down Friday’s business headlines.

Video transcript

JULIE HYMAN: IAC Interactive is in talks to buy Meredith. That's according to the Wall Street Journal. Meredith is the publisher of magazines like "People" and "Better Homes and Gardens." It could be valued at more than $2 and 1/2 billion, according to the Journal. They reported that IAC is competing with another bidding group that includes private equity firm, the [INAUDIBLE] companies. IAC, of course, led by Barry Diller, has recently shrunk its portfolio, spinning off Match Group and Vimeo. You can see those Meredith shares are spiking today as the result of this report. IAC shares are a little bit up as well.

3.3 million Boppy Baby lounging pillows are being recalled after they were linked to eight infant deaths. The US Consumer Product Safety Commission nearly a year ago recalled similar pillow-like products for babies and cautioned parents about letting babies fall asleep on them. The deaths occurred between December 2015 and June 2020. And the CPSC said they were the result of suffocation. Boppy, by the way, owned by Artsana, which is a private Italian company that also owns baby gear maker Chico.

Twitter's virtual tip jar will now include a Bitcoin option. Twitter started testing a tipping feature for creators in May, where users could use Cash App or Venmo. Now they'll be able to use the Strike Bitcoin Lightning Wallet service to throw in a few Bitcoin bucks. The feature will be available to Apple iOS users this week and Android users in the coming weeks. And Brian Sozzi, Long Island native, I couldn't help but think of sit at the bar, put bread in my jar. That that is, like, such a world difference from this kind of a tip.

BRIAN SOZZI: I'm not even there yet. Isn't the lightning network-- aren't those those chargers for the cell phones, like for the iPhone? What is that?

JULIE HYMAN: It's just a Bitcoin wallet. It's a different-- it's a-- I think.

BRIAN SOZZI: OK, all right.