![]() Musk has set some ambitious goals for Twitter, which he has said he will transform into an “everything app” called X. The judge overseeing Twitter’s lawsuit agreed to put the case on hold until Oct. ![]() Musk said he would proceed with the acquisition at the original price if Twitter halted its legal battle against him. He tried negotiating a discount on the deal price. The court set a five-day trial in mid-October to hear the case.īut facing days of depositions and an uncertain outcome, Mr. The lawsuit ended up in Delaware Chancery Court, which hears many corporate cases. At least one of the executives who was fired was escorted out of Twitter’s office, they said. The Twitter executives who were fired on Thursday include Parag Agrawal, the chief executive Ned Segal, the chief financial officer Vijaya Gadde, the top legal and policy executive and Sean Edgett, the general counsel, said two people with knowledge of the matter. Musk to abide by the agreement.Ī Twitter spokesman did not immediately respond to a request for comment. But, as the global economy faltered in the ensuing months and Twitter’s stock fell, the deal price appeared to be a win for shareholders, and the board sought to force Mr. Musk agreed to pay $54.20 a share for the company in April, Twitter faced criticism for accepting a price that was too low. Musk, who also runs the electric carmaker Tesla and the rocket company SpaceX, did not immediately respond to a request for comment.Ĭompleting the deal was a victory for Twitter’s board. By taking the company private, he does not need to regularly answer to shareholders and can make changes to the service away from the public’s prying eyes. Musk, 51, will be remaking Twitter without having to disclose how it is performing every few months. The firings of the top company executives on Thursday were a sign that Mr. Twitter, which is based in San Francisco and employs more than 7,500 people, has had difficulties consistently growing its advertising-based business and attracting new users. Musk has also promised other sweeping changes at Twitter, including new leadership, job cuts and the pursuit of new ways to make money. “People eventually realize that the Wild West needs a sheriff, both for ensuring the safety of citizens but also for enhancing the prospects for commerce.” “It’s a ‘back-to-the-future’ reversion to content rules circa 2010, but one that ignores the lived experience over the last decade,” said Colin Crowell, Twitter’s former head of global public policy, who left the company in 2019. Here is what that has meant for the journalists writing about the company.
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