Musk Sells $7B In Tesla Shares Ahead Of Twitter Fight

Musk disclosed in series of regulatory filings that he unloaded about 8 million shares of his company Tesla Inc. in recent days. “In the (hopefully unlikely) event that Twitter forces this deal to close and some equity partners don’t come through, it is important to avoid an emergency sale of Tesla stock,” Musk tweeted late Tuesday.

QUARTERLY REPORT

Twitter, In Midst Of Musk Fight, Posts Surprising Drop In Revenue

The latest quarterly earnings figures offered a glimpse into how the social media platform has performed during a months-long negotiation with billionaire and Tesla CEO Elon Musk after he said that he would buy the company, and then changed his mind. It was worse than industry analysts had anticipated.

Twitter-Musk Takeover Dispute Heading For October Trial

Twitter had asked for an expedited trial in September, while Musk’s team called for waiting until early next year because of the complexity of the case. Chancellor Kathaleen St. Jude McCormick, the head judge of Delaware’s Court of Chancery, which handles many high-profile business disputes. said Musk’s team underestimated the Delaware court’s ability to “quickly process complex litigation.”

Twitter Sues To Force Musk To Complete His $44B Acquisition

Twitter’s lawsuit opens with a sharply-worded accusation: “Musk refuses to honor his obligations to Twitter and its stockholders because the deal he signed no longer serves his personal interests.” As part of the April deal, Musk and Twitter had agreed to pay each other a $1 billion breakup fee if either was responsible for the deal falling through. The company could have pushed Musk to pay the hefty fee but is going farther than that, trying to force him to complete the full $44 billion purchase approved by the company’s board.

Twitter’s Stock Falls Further As Doubts Swirl Over Elon Musk’s Takeover

Shares of the social media company have lost a third of their value since April 25, when Musk’s offer to buy the company was accepted by the company’s board.

Musk Abandons Deal To Buy Twitter; Company Says It Will Sue

The likely unraveling of the acquisition was just the latest twist in a saga between the world’s richest man and one of the most influential social media platforms, and it may portend a titanic legal battle ahead.

Twitter Stock Sinks On Fresh Doubts Around Elon Musk Deal

Shares of Twitter dipped in late trading Thursday, reversing earlier gains, on fresh speculation that its acquisition by Elon Musk is at risk. Musk inked a deal to buy the social media platform in late April for $54.20 a share, or $44 billion, and has indicated a number times he wants to back out, citing lack of clarity around the number of spam accounts.

Twitter Board Recommends Elon Musk Takeover Bid

Twitter’s board of directors on Tuesday unanimously recommended shareholders approve Elon Musk’s bid to buy the social media company. The board recommended stockholders approve Musk’s $44 billion offer, stating they determined it to be fair and in the best interests of Twitter and its stockholders, according to a document filed with the Securities and Exchange Commission.

Elon Musk Expected To Reiterate Desire to Own Twitter

The billionaire is also likely to clarify some of his remarks on remote work and strategy at a virtual meeting Thursday with the social media platform’s employees.

In Reversal, Twitter Plans To Comply With Musk’s Demands For Data

After a weeks-long impasse, Twitter’s board plans to comply with Elon Musk’s demands for internal data by offering access to its full “firehose,” the massive stream of data comprising more than 500 million tweets posted each day, according to a person familiar with the company’s thinking, who spoke on the condition of anonymity to describe the state of negotiations.

Musk Threatens To Walk Away From Twitter Deal

Lawyers for the Tesla and SpaceX CEO made the threat in a letter to Twitter dated Monday that the company disclosed in a filing with the U.S. Securities and Exchange Commission. The lawyers wrote that Musk has repeatedly asked for the information about Twitter’s spam bot and fake accounts since May 9, about a month after his offer to buy the company, so he could evaluate how many of the company’s 229 million accounts are fake.

Musk’s Twitter Deal Clears FTC Review, Company Says

Elon Musk’s bid to buy Twitter for $44 billion has cleared a regulatory step with the Federal Trade Commission, Twitter said Friday. The waiting period under the Hart-Scott-Rodino Improvements Act for the bid expired late Thursday night. The HSR Act requires parties to report large mergers and acquisitions to the FTC and the Department of Justice’s antitrust division for review. (AP photo/Richard Drew)

E! News Debuts Twitter-Exclusive Livestreamed Show ‘While You Were Streaming’

SEC Scrutinizing Musk’s Twitter Share Purchases

The Securities and Exchange Commission revealed on Friday that it had begun looking into Elon Musk’s purchases of Twitter stock in early April and whether he properly disclosed his stake and his intentions for the social media company.

FTC Fines Twitter $150 Million Over Ad-Targeting Snafu

The Federal Trade Commission has fined Twitter $150 million over allegations that it misled users by asking for their phone numbers and email addresses for security purposes, but then drew on the information for ad targeting.

Twitter’s Chief Tries Staying The Course As Elon Musk Upends Plans

Parag Agrawal, Twitter’s chief executive, is grappling with a takeover where nobody “would want to be in those shoes.”

Twitter To Tackle Ukraine Conflict Misinformation With Warning Labels

Twitter will begin placing warning notices in front of some misleading content regarding the conflict in Ukraine and limit the spread of claims debunked by humanitarian groups or other credible sources, the social media company said on Thursday. The step-up against misinformation around Russia’s invasion of Ukraine, which Moscow calls a “special military operation,” is part of a new policy that outlines how Twitter will approach misinformation during crises.

Elon Musk: Twitter Deal ‘Cannot Move Forward’ Without More Information

Musk’s increasingly skeptical — and erratic — comments about the takeover have kept investors, bankers and Twitter itself guessing about his motives. Some analysts figure that the 50-year-old is trying to drive down the acquisition price or walk away from the deal altogether.

Elon Musk Says His Deal To Buy Twitter Is On Hold

Elon Musk said he is putting his bid to acquire Twitter on hold, weeks after agreeing to take the company private in a $44 billion deal. “Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users,” Musk tweeted on Friday. The news sent Twitter shares down more than 20% in premarket trading.

Twitter Fires Two Executives And Freezes Most Hiring After Musk’s Deal To Buy The Company

An internal memo shared with employees said the platform’s general manager and general manager for revenue would be departing.

Groups: Unchecked Election Disinformation Is Dominant Threat To Democracy

Free Press, Common Cause and a number of other progressive groups and civil rights advocates have called on the biggest social media companies to combat disinformation in the run-up to the midterm elections, the first national election since the Jan. 6 Capitol insurrection, saying if they don’t, they are “the dominant threat” to the democratic process. That came in the form of letters to the CEOs of Meta, Twitter, YouTube, Snapchat, Instagram, TikTok, and Alphabet from more than 100 groups.

Musk Says He Would Reverse Twitter’s Ban Of Donald Trump

Musk, speaking virtually at a Future of the Car summit hosted by the Financial Times, said Twitter’s Trump ban was a “morally bad decision” and “foolish in the extreme.” He said permanent bans of Twitter accounts should be rare and reserved for accounts that are scams or automated bots.

Elon Musk Has Brought In New Investors To Fund His Twitter Deal

A filing lists a number of investment firms and other backers who will contribute $7 billion to the deal. In numerous conversations over the last several days, Musk began making promises about what he could do with Twitter, telling potential investors that he could double the number of users on the platform to more than half a billion by 2025, four people briefed on the conversations said. Not only that, he said, he could more than double Twitter’s revenue by that date and bring tens of millions of paying subscribers to the service, two of the people said.

Elon Musk Hates Ads. Twitter Needs Them. That May Be A Problem

Many marketers were already lukewarm on the service. Now, some may move their money elsewhere if the content moderation policies are relaxed.

NewFronts: E! News Launching Live-Streamed Show On Twitter

NBCUniversal’s E! News will be launching a new live-streamed show on Twitter that will cover programming in all forms of TV. At its NewFront presentation Wednesday, Twitter said the new E! show would be called While You Were Streaming. It will be hosted by Danielle Roby and look at the tweet-worthy moments in series like Stranger ThingsObi-Wan Kenobi and The Real Housewives.

FCC Republicans Say Agency Won’t Prevent Musk Takeover Of Twitter

Two of the FCC’s four current members have said they won’t interfere with Tesla CEO Elon Musk’s planned $44 billion purchase of Twitter.  “The FCC cannot, and should not, block this sale,” Nathan Simington, a Republican, said this week. “We should instead applaud Mr. Musk for doing something about a serious problem that government has so far failed to address,” Simington added, obviously referring to reports that Musk plans to revise Twitter’s content-moderation policies.

How Twitter’s Board Went From Fighting Elon Musk To Accepting Him

It’s highly unusual to move from a “poison pill” to a $44 billion deal in under two weeks. But Twitter’s board ran out of options.

Eight Questions About Twitter’s Future Now That Elon Musk Is Taking Over

Here’s What’s Next For Elon Musk And Twitter

Latenight Muses On Elon Musk’s Deal To Buy Twitter

Trevor Noah joked that owning Twitter would give Musk “more power than the drugstore employee with the key to the deodorant shelf.”

Musk’s ‘Free Speech’ Push For Twitter: Repeating History?

The big question now is how far Musk, who describes himself as a “free-speech absolutist,” wants to ratchet back these systems — and whether users and advertisers will stick around if he does.

UPDATED, MONDAY, 6 PM ET

Elon Musk Buys Twitter For $44B, Will Privatize Company

The outspoken Tesla CEO, the world’s wealthiest person, has said he wants to buy Twitter because he thinks it’s not living up to its potential as a platform for “free speech.” He says it needs to be transformed as a private company in order to build trust with users and do better at serving what he calls the “societal imperative” of free speech. Twitter said the transaction was unanimously approved by its board of directors.

COMMENTARY BY JOE FERULLO

Are Journalism And Twitter Headed For Splitsville?

Joe Ferullo: “The passionate romance between Twitter and journalism suddenly seems to be on the rocks — and that’s good news for people who care about real news, delivered straight.”

Reports: Twitter In Talks With Musk Over Bid To Buy Platform

The New York Times, citing people with knowledge of the situation who it did not identify, said the two sides were discussing details including a timeline and fees if an agreement was signed and then fell apart. The people said the situation was fluid and fast-moving.

Musk Says He Has $46.5B In Financing Ready To Buy Twitter

Tesla CEO Elon Musk said Thursday in documents filed with U.S. securities regulators that the money would come from Morgan Stanley and other banks, some of it secured by his huge stake in the electric car maker. Twitter has yet to formally respond to Musk’s offer, but the company has enacted an anti-takeover measure known as a poison pill that could make a takeover attempt prohibitively expensive.

Apollo Global Considers Participating In Bid For Twitter

Apollo Global Management Inc. is considering participating in a bid for Twitter Inc., according to people familiar with the matter, after Elon Musk’s $43 billion bid put the social-media company in play. Apollo, one of the world’s largest buyout firms, has held discussions about backing a possible deal for Twitter and could provide Musk or another bidder like private-equity firm Thoma Bravo LP with equity or debt to support an offer, the people said.

Twitter Adopts ‘Poison Pill’ Defense Against Elon Musk Takeover Bid

The move would allow existing Twitter shareholders to buy additional shares at a discount, thereby diluting Elon Musk’s stake in the company and making it harder for the Tesla CEO to corral a majority of shareholder votes in favor of the acquisition. Twitter’s plan would take effect if Musk’s roughly 9% stake grows to 15% or more.

Elon Musk Could Have Competition: Thoma Bravo Considers Twitter Bid

Twitter Weighing Poison Pill Defense To Thwart Elon Musk’s Takeover Bid

Elon Musk’s Twitter Takeover Bid Worries Advertisers

Advertisers have long been nervous about interacting on the site, new management could shake it up even more.