Headline RoundupApril 25th, 2022

Elon Musk Officially Acquires Twitter For $44 Billion

AllSides Summary

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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