Twitter said earlier this week that it intends to close the deal at the agreed-upon price, but the two sides are still booked for an Oct. 17 trial in Delaware over Musk’s earlier attempts to terminate the deal.
The offer comes just two weeks before Twitter’s lawsuit seeking to force Musk to go through with the deal goes to trial.
The stakes are high not just for government and the companies, but because of the increasingly dominant role platforms such as Twitter and Facebook play in American democracy and elections.
The former security chief at Twitter told Congress that the social media platform is plagued by weak cyber defenses that make it vulnerable to exploitation by “teenagers, thieves and spies” and put the privacy of its users at risk.
A former head of security at Twitter has filed whistleblower complaints with U.S. officials, alleging that the company misled regulators about its cybersecurity defenses and its problems with fake accounts.
With more than 68,000 workers in tech laid off in 2022, many read Wallake’s post as privileging the chief executive’s pain over that of the employees being let go.
Federal regulators are looking at drafting rules to crack down on what they call harmful commercial surveillance and lax data security.
Facebook executives warned that marketers are pulling back spending in part because of an uncertain economic environment, which has some experts warning a recession could be on the horizon.
Facebook announced Thursday that it’s overhauling the design of its flagship social network by elevating content from creators over posts from friends and family in an effort to fend off intensifying competition for users’ attention.
In a fiery filing, Twitter accuses Musk of violating the merger agreement “because the deal he signed no longer serves his personal interests.”
The company is likely to face a lengthy courtroom battle with one of the world’s richest and most mercurial individuals, which could paralyze its ability to launch new initiatives and attract workers.
Twitter could push for a $1 billion breakup fee that Musk agreed to pay under these circumstances. Instead, it looks ready to fight to complete the purchase, which the company’s board has approved and CEO Parag Agrawal has insisted he wants to consummate.
Twitter plans to offer Elon Musk access to its “firehose” of raw data on hundreds of millions of daily tweets in an effort to push forward the Tesla billionaire’s agreed-to $44 billion acquisition, according to multiple news reports.
Elon Musk is threatening to end his $44 billion agreement to buy Twitter, accusing the company of refusing to give him information about its spam bot accounts.
Zionsville Mayor Emily Styron berated a commenter she disagreed with in a profanity-filled Facebook posting following the school shooting in Texas that took the lives of 19 children.
Social media companies are competing for the same pool of advertising money that is increasingly under threat from spiking inflation and also changes at Apple Inc. that can restrict the information social media platforms can collect on users, a big selling point for advertisers.
Tesla CEO Elon Musk told a Miami technology conference that a viable deal at a lower price would not be out of the question, according to a report by Bloomberg News.
Elon Musk’s concern about spam and fake accounts on the social media platform represents yet another twist amid signs of internal turmoil over the proposed acquisition.
The infusion adds heft to the Tesla chief’s offer and eases some of the financial pressure he’s taken on in pursuit of the social media platform.
Musk also brought up several ideas to boost revenue for the company, such as paying “influencers” to create content, following a business model that helped make TikTok a powerhouse social media app.
