The Limited Times

Now you can see non-English news...

Twitter bought by Musk: General Motors temporarily suspends its advertisements

2022-10-29T06:57:56.120Z


Elon Musk officially took control of Twitter for $44 billion, ushering in an uncertain new era for the platform


“Let the party begin,” tweeted the boss of Tesla (electric vehicles) and SpaceX (spaceflight), a big fan of provocations, on Friday.

He had already launched "the bird is released" on Thursday evening, after having dismissed the management team of the Californian company.

The reactions, enthusiastic or disappointed, have multiplied after Musk's takeover of Twitter, but the most resounding is that of General Motors (GM).

The automaker said Friday it was temporarily stopping paying for ads on Twitter, becoming the first major advertiser to question its presence on the social network.

Read alsoElon Musk and Twitter, it's done… and what does it change?

“We are talking with Twitter to understand the direction of the platform under its new owner,” explained the group, a direct competitor of Tesla.

Elon Musk, who officially took control of Twitter for $44 billion - ushering in an uncertain new era for this major influencer platform - has established himself as the ultimate defender of free speech, raising fears of a resurgence of abuse (harassment, racism, misinformation) on the application.

Towards the upcoming formation of a “content moderation council”

In particular, he opened the door to a return of Donald Trump, ousted from Twitter after having supported his supporters who took part in the assault on Capitol Hill in January 2021. However, the brands, which represent the bulk of Twitter's income, prefer generally back their ads with consensual content.

On Friday, the new owner tried to reassure by announcing the upcoming formation of a “content moderation council with very diverse points of view”.

"No major decision on content or account reactivation will take place without the intervention of the board," said the multi-billionaire.

"The merger between Twitter and X Holdings II", a company "controlled by Elon Musk, was finalized on October 27", notified the New York Stock Exchange (NYSE) on Friday morning.

“All shares of Twitter were exchanged for $54.20 in cash,” she said.

Elon Musk had until Friday to complete the acquisition of the social network, failing which a trial was to take place in November.

The deal had been dragging on since late April, when Twitter reluctantly accepted the contractor's takeover offer, which then sought to get out of it.

The company's board of directors had taken legal action, and earlier this month, days before the start of a lawsuit that Twitter looked set to win, Elon Musk finally offered to close the deal at the price initially agreed.

Source: leparis

All news articles on 2022-10-29

You may like

News/Politics 2024-02-28T09:05:31.084Z

Trends 24h

Latest

© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.