Billionaire entrepreneur Elon Musk agreed to buy Twitter Inc for $44 billion, using one of the biggest leveraged buyout deals in history to take private a 16-year-old social networking platform that has become a hub of public discourse and a flashpoint in the debate over online free speech. Read: From outer space to social media, Elon Musk’s growing universe Investors will receive $54.20 for each Twitter share they own, the company said in a statement on Monday.
The debate around free speech on social media has been raging for years – some political conservatives say Twitter, Facebook parent Meta Platforms Inc and other internet companies have too many rules, while liberals don’t think social networks go far enough to prevent hate speech and attacks on their services. It’s a conflict that has led to numerous congressional hearings over the years and a movement to overhaul U.S. regulations around online content.
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Elon Musk, Twitter board discuss takeover bid - IT-OnlineElon Musk is one step closer to his goal of acquiring Twitter. The world’s richest man met with the Twitter board yesterday, apparently to discuss details of a potential deal. Musk earlier this week announced his intention to acquire the company through a hostile takeover after buying up more than 9% of Twitter’s shares. He […]
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