Current:Home > FinanceElon Musk’s X sues advertisers over alleged ‘massive advertiser boycott’ after Twitter takeover-Angel Dreamer Wealth Society D1 Reviews & Insights
Elon Musk’s X sues advertisers over alleged ‘massive advertiser boycott’ after Twitter takeover
View Date:2024-12-23 14:18:26
WICHITA FALLS, Tex. (AP) — 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.
veryGood! (85127)
Related
- 'Red One' review: Dwayne Johnson, Chris Evans embark on a joyless search for Santa
- King Charles III Shares Support for Kate Middleton Amid Their Respective Cancer Diagnoses
- Kansas City Chiefs trading star CB L'Jarius Sneed to Tennessee Titans, per report
- The Diane von Furstenberg x Target Collection Is Officially Here—This Is What You Need To Buy ASAP
- What is best start in NBA history? Five teams ahead of Cavaliers' 13-0 record
- The Smart Reusable Notebook That Shoppers Call Magic is Just $19 During Amazon's Big Spring Sale
- Judge expects ruling on jurisdiction, broadcasting rights in ACC-Florida State fight before April 9
- Israel’s Netanyahu rebuffs US plea to halt Rafah offensive. Tensions rise ahead of Washington talks
- Detroit Mayor Mike Duggan says next year will be his last in office; mum on his plans afterward
- Kate Middleton Is Receiving Preventative Chemotherapy: Here's What That Means
Ranking
- Jon Gruden joins Barstool Sports three years after email scandal with NFL
- Riley Strain Dead at 22: Police Detail What Led to Discovery of Missing Student
- Kate Middleton Receives Well-Wishes From Olivia Munn and More After Sharing Cancer Diagnosis
- Kelly Ripa's Trainer Anna Kaiser Invites You Inside Her Fun Workouts With Daughter Lola Consuelos
- Texas’ 90,000 DACA recipients can sign up for Affordable Care Act coverage — for now
- New York State Legislature Votes to Ban CO2 Fracking, Closing a Decade-Old Loophole in State Law
- Federal judge temporarily blocks plans for a power line in Mississippi River wildlife refuge
- The Politics Behind the SEC’s New Climate Disclosure Rule—and What It Means for Investors
Recommendation
-
MVSU football player killed, driver injured in crash after police chase
-
Princess Kate cancer diagnosis: Read her full statement to the public
-
No. 13 seed Yale stuns SEC tournament champion Auburn in another March Madness upset
-
For Haitian diaspora, gang violence back home is personal as hopes dim for eventual return
-
Dramatic video shows Phoenix police rescue, pull man from car submerged in pool: Watch
-
Cameron Diaz and Benji Madden Welcome Baby No. 2
-
Selena Gomez & David Henrie Have Magical Reunion in First Look at Wizards of Waverly Place Sequel
-
Hundreds of thousands of financial aid applications need to be fixed after latest calculation error