Headline RoundupOctober 4th, 2022

Elon Musk Offers to Buy Twitter at Original Asking Price, Twitter Plans to Accept

AllSides Summary

Tesla CEO Elon Musk once again offered to buy Twitter at his original asking price of $54.20 per share — just two weeks ahead of a trial in which Twitter would have tried to force Musk to honor their buyout agreement. 

Twitter said it planned to accept Musk’s offer. Musk, the world’s richest person, agreed to buy Twitter in April but later tried to back out of the deal, claiming Twitter had misrepresented the number of spam bots on its platform. Twitter denied Musk’s accusations and sued him to force him to buy the company. The announcement surprised investors, who sent Twitter’s stock up over 22% on Tuesday. At the same time, Trump-backed Truth Social’s stock dropped by about 5%

Coverage was widespread across the spectrum on Tuesday, particularly in business and technology outlets. Musk was more likely to be framed negatively in left-rated outlets and positively in right-rated outlets, but more often the deal was framed as surprising; a subheader in The Verge (Lean Left bias) said, “We’re as confused as you are.” Coverage in some outlets, like Bloomberg (Lean Left bias), framed Musk as “aiming to avoid” his court date with Twitter. 

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