Sport Investors League
  • Politics
  • Stocks
  • Investing
  • Business

Sport Investors League

  • Politics
  • Stocks
  • Investing
  • Business
Business

Elon Musk’s X sues advertisers over alleged ‘massive advertiser boycott’ after Twitter takeover

by admin August 7, 2024
August 7, 2024
Elon Musk’s X sues advertisers over alleged ‘massive advertiser boycott’ after Twitter takeover

WICHITA FALLS, Tex. — Elon Musk’s social media platform X has sued a group of advertisers, alleging that a “massive advertiser boycott” deprived the company of billions of dollars in revenue and violated antitrust laws.

The company formerly known as Twitter filed the lawsuit Tuesday in a federal court in Texas against the World Federation of Advertisers and member companies Unilever, Mars, CVS Health and Orsted.

It accused the advertising group’s initiative, called the Global Alliance for Responsible Media, of helping to coordinate a pause in advertising after Musk bought Twitter for $44 billion in late 2022 and overhauled its staff and policies.

Musk posted about the lawsuit on X on Tuesday, saying “now it is war” after two years of being nice and “getting nothing but empty words.”

X CEO Linda Yaccarino said in a video announcement that the lawsuit stemmed in part from evidence uncovered by the U.S. House Judiciary Committee which she said showed a “group of companies organized a systematic illegal boycott” against X.

The Republican-led committee had a hearing last month looking at whether current laws are “sufficient to deter anticompetitive collusion in online advertising.”

The lawsuit’s allegations center on the early days of Musk’s Twitter takeover and not a more recent dispute with advertisers that came a year later.

In November 2023, about a year after Musk bought the company, a number of advertisers began fleeing X over concerns about their ads showing up next to pro-Nazi content and hate speech on the site in general, with Musk inflaming tensions with his own posts endorsing an antisemitic conspiracy theory.

Musk later said those fleeing advertisers were engaging in “blackmail” and, using a profanity, essentially told them to go away.


This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
Google loses antitrust case over search
next post
How sustainable diaper brand Kudos is taking on industry giants — with a Target rollout

Related Posts

Stellantis CEO says $25,000 Jeep EV coming to...

May 30, 2024

Target, McDonald’s and others are offering value as...

May 24, 2024

Amazon and Nvidia say AI data center demand...

April 25, 2025

Elon Musk’s X and Starlink face nearly $1...

September 21, 2024

John Deere to abandon Pride festival sponsorships following...

July 18, 2024

Bissell recalls 3.2 million handheld steam cleaners after...

July 24, 2024

Traders see the odds of a Fed rate...

July 18, 2024

How sustainable diaper brand Kudos is taking on...

August 7, 2024

Delta says chaos after CrowdStrike outage cost it...

August 10, 2024

Retirees ‘stunned’ as market turmoil over tariffs shrinks...

April 6, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent

    • Offense vs. Defense: How Geopolitical Tensions Shape Market Trends

      June 25, 2025
    • How to Use Fibonacci Retracements to Spot Key Levels

      June 25, 2025
    • Shifting Tides in the Stock Market: A New Era for Bulls?

      June 25, 2025
    • Experts gauge success of ‘bunker buster’ bombs dropped by US on Iran nuclear sites

      June 25, 2025
    • ‘I’m just a silly girl’: AOC fires back after Trump calls her ‘stupid’

      June 25, 2025

    Categories

    • Business (995)
    • Investing (2,462)
    • Politics (3,057)
    • Stocks (1,094)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sportinvestorsleague.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 sportinvestorsleague.com | All Rights Reserved