Elon Musk's X sues advertisers over alleged 'massive advertiser boycott'
Elon Musk's platform X has filed a lawsuit against major advertisers for alleged antitrust violations, claiming a coordinated boycott has cost billions in revenue since his acquisition of Twitter in 2022.
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Elon Musk's social media platform X, formerly known as Twitter, has filed a lawsuit in federal court in Texas against the World Federation of Advertisers and several major companies, including Unilever, Mars, CVS Health, and Orsted. The lawsuit alleges that a coordinated "massive advertiser boycott" has deprived X of billions in revenue and violated antitrust laws. Musk claims that the boycott was organized through the Global Alliance for Responsible Media, which encouraged advertisers to pause their spending following his acquisition of Twitter in late 2022. In a statement on X, Musk indicated that the situation has escalated to a point of "war" after two years of unsuccessful negotiations. X CEO Linda Yaccarino highlighted that evidence from a U.S. House Judiciary Committee investigation supports claims of a systematic illegal boycott against the platform. The lawsuit focuses on events from the early days of Musk's ownership, prior to a significant advertiser exodus in November 2023, which was triggered by concerns over the platform's content moderation and Musk's controversial statements. Musk had previously accused fleeing advertisers of "blackmail" and suggested they could leave if they were unhappy.
- X has sued major advertisers for alleged antitrust violations related to a boycott.
- The lawsuit claims the boycott has cost the company billions in revenue.
- Musk's acquisition of Twitter in 2022 is central to the lawsuit's timeline.
- The lawsuit follows a House Judiciary Committee investigation into advertising practices.
- Advertisers began leaving X due to concerns over content moderation and hate speech.
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4 commentsDoes Musk really feel entitled to a portion of every major corporation’s advertising budget? It’s weird that he thinks everyone else ought to change their values to accommodate him and not the other way around.
It’s truly difficult to explain in words how embarrassing the video from their CEO is. You really have to see it yourself in order to believe: https://x.com/lindayaX/status/1820838625245880634
If he can't extract $50B from Tesla because the Delaware chancery court isn't a time machine, and he's lost all the money he put into Twitter, a cash crunch is possible. If the big rocket doesn't look like it will be rapidly reusable enough to even try in-orbit refueling in the next couple of launches, that could stress anyone's checking account.
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