Elon Musk’s acquisition of Twitter is now a done deal, according to The Washington Examiner and wire service reports. With that, the world’s richest man has taken the reins of perhaps the most influential platform on social media, suggesting he has plans for significant content changes.
Click here to download Todd’s free podcast – now with more than 1 million subscribers.
The takeover, for which Musk offered $44 billion, follows months of legal wrangling.
The Examiner report said Musk now has a chance to overhaul an enterprise he hopes to make profitable and, in his view, less inclined to censor dissenting views and controversial posters.
One move he may be eyeing is restoring former President Donald Trump’s account, though Trump, barred from Twitter amid claims his frequent posts were misleading and inciting, has indicated he has no plan to go back on what was once his favorite web platform.
Reports said Musk assumed control Thursday night, with the chief executive and chief financial officer exiting Twitter’s San Francisco HQ with no plans to return.
From The New York Times:
The Twitter executives who were fired include Parag Agrawal, Twitter’s chief executive, Ned Segal, the chief financial officer, Vijaya Gadde, the top legal and policy executive, and Sean Edgett, the general counsel, said the people, who declined to be identified because they were not authorized to speak publicly.
At least one of the executives who was fired was escorted out of Twitter’s office, they said.NYT
Among those escorted from the building were individuals believed to be responsible for banning former President Trump.
From the Wall Street Journal:
A self-described free-speech absolutist, Mr. Musk has pledged to limit content moderation in favor of emphasizing free speech. However, that approach risks causing conflicts with some advertisers, politicians and users who would prefer a more moderated platform.
In a message to advertisers on Twitter on Thursday, Mr. Musk said he was buying the company to “have a common digital town square, where a wide range of beliefs can be debated in a healthy manner.” He said Twitter “cannot become a free-for-all hellscape, where anything can be said with no consequences!”
Mr. Musk said the platform must be “warm and welcoming to all” and suggested Twitter could let people “choose your desired experience according to your preferences, just as you can choose, for example, to see movies or play video games ranging from all ages to mature.”WSJ