Elon Musk Officially Acquires Twitter For $44 Billion
Summary from the AllSides News Team
Twitter on Monday accepted Elon Musk’s offer to purchase the company for $54.20 per share in a deal valued at $44 billion.
Musk made a cash offer to buy Twitter on Apr. 14, which sparked polarized reactions from Twitter employees and the media industry at large. Describing himself as a "free speech absolutist," Musk has been openly critical of the platform's content moderation and free speech controversies. He announced in a press release that he hopes to improve Twitter by "making the algorithms open source to increase trust, defeating the spambots, and authenticating all humans." Once the deal is completed, Twitter will officially become a privately held company.
Many reports across the spectrum accentuated how Musk now has "power over hugely consequential societal and political issues" such as allowing former President Donald Trump back on the platform. The Verge (Lean Left bias) implied that a Musk-owned Twitter "might be in a weaker position" to protect free speech given the billionaire's ties to Tesla and other major industries. The Daily Wire (Right bias) emphasized how the acquisition was "unanimously approved" by Twitter's board. The report also highlighted how Musk contacted The Babylon Bee (Lean Right bias) earlier this year after they were suspended from the platform for posting a satirical article.
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From the Left
Twitter accepts buyout, giving Elon Musk total control of the company
Twitter has accepted Elon Musk’s offer to purchase the company for $44 billion, the company announced in a press release today. Musk purchased the company at $54.20 a share, the same price named in his initial offer on April 14th.
“Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated,” said Musk in a statement included with the release. “I also want to make Twitter better than ever by enhancing the product with new features, making...
From the Center
Elon Musk Agrees to Buy Twitter in $44 Billion Deal
Twitter Inc. on Monday accepted Elon Musk’s bid to take over the company, giving the world’s richest man control over the influential social-media network where he is also among its most powerful users.
The $44 billion deal marks the close of a dramatic courtship and a sharp change of heart at Twitter, where many executives and board members initially opposed Mr. Musk’s takeover approach. The deal has polarized Twitter employees, users and regulators over the power tech giants wield in determining the parameters of acceptable discourse on the internet and how those...
From the Right
Twitter Announces Deal With Elon Musk
Twitter announced late on Monday that it has entered a definitive agreement to be acquired by Elon Musk for $54.20 per share in a deal valued at $44 billion.
The transaction was unanimously approved by Twitter’s board and is expected to close this year subject to the approval of Twitter’s shareholders and other regulatory approvals.
“Under the terms of the agreement, Twitter stockholders will receive $54.20 in cash for each share of Twitter common stock that they own upon closing of the proposed transaction,” Twitter said in a statement. “The purchase price...
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April 24th, 2024
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