• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Investing

Elon Musk’s X nears settlement with Amazon’s Twitch in ad boycott lawsuit

by April 9, 2025
written by April 9, 2025

Elon Musk’s social media platform X, formerly known as Twitter, has reached a preliminary agreement to settle its legal dispute with Twitch, a live streaming service owned by Amazon.

The deal relates to allegations that Twitch and several other companies conspired to withhold advertising from X, causing the platform to lose significant revenue.

In a court filing on Monday, X informed a federal judge in Texas that it had signed a “memorandum of understanding” to dismiss its lawsuit against Twitch, contingent on the subsidiary meeting certain undisclosed conditions by the end of 2025.

X’s antitrust lawsuit

X initially filed the lawsuit in November, accusing Twitch and nearly a dozen other companies of violating antitrust laws by coordinating a boycott.

The filing claimed the companies acted in concert with the World Federation of Advertisers (WFA) to intentionally divert billions of dollars in ad spending away from X.

The lawsuit is part of a broader legal effort by X to challenge what it alleges is a coordinated campaign by major advertisers and industry bodies to undermine the platform’s financial performance.

Twitch had not filed a legal response before the settlement announcement.

The agreement with Twitch follows a similar move last year involving Unilever.

In October, X voluntarily dismissed the consumer goods giant from the lawsuit after the two parties reached a settlement.

Unilever said at the time that X had committed to “meeting our responsibility standards to ensure the safety and performance of our brands on the platform.”

Ongoing cases

Since Musk acquired the platform in October 2022, X has struggled with declining ad revenues.

Many advertisers reduced or paused spending amid concerns that content moderation had weakened under new leadership, leading to a higher risk of ads appearing alongside controversial or harmful content.

Other companies named in the ongoing lawsuit include CVS, Pinterest, and Colgate-Palmolive.

The litigation highlights the continued tension between X and the advertising industry, as the platform works to rebuild advertiser confidence and revenue streams amid ongoing scrutiny of its content policies and moderation practices.

Elon Musk sells X

Last month, Musk announced that his artificial intelligence firm, xAI, had acquired social media platform X in a $33 billion all-stock transaction.

The deal includes $12 billion in debt, effectively raising X’s valuation to $45 billion.

Explaining the rationale behind the merger, Musk stated on X:

xAI and X’s futures are intertwined. Today, we officially take the step to combine the data, models, compute, distribution and talent.”

Musk said that since its inception two years ago, xAI has emerged as one of the world’s leading AI labs, advancing at “unprecedented speed and scale” in building both models and data centers.

He also noted that X, which now serves over 600 million active users seeking real-time information, has “been transformed into one of the most efficient companies in the world,” positioning it for future growth.

Musk said the deal values xAI at $80 billion and X at $33 billion.

The post Elon Musk’s X nears settlement with Amazon’s Twitch in ad boycott lawsuit appeared first on Invezz

0 comment
0
FacebookTwitterPinterestEmail

previous post
Why Netflix may emerge as a trade war survivor
next post
Musk calls Trump’s trade adviser Navarro ‘truly a moron’ and ‘dumber than a sack of bricks’ over tariff row

related articles

Asian markets open: Nikkei, Hang Seng fall on...

June 12, 2025

Aluminum and steel tariffs spark rise in secondary...

June 12, 2025

Airbus sees aviation boom ahead, global fleet to...

June 12, 2025

US-China trade talks and Washington’s decade-long effort to...

June 12, 2025

Europe markets open: Stoxx 600 dips as UK...

June 12, 2025

UK GDP falls by 0.3% in April as...

June 12, 2025

Gordon Brothers buys Poundland; pledges £80 mn for...

June 12, 2025

Air India plane crash: London-bound flight with 242...

June 12, 2025

Air India plane crash live update: Indian President...

June 12, 2025

Copper remains supported for now even as China...

June 12, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • Coca-Cola Stock: New Challenges Amid Market Shifts

    August 26, 2024
  • Fat Joe praises Trump healthcare executive order after backing Harris in 2024

    February 26, 2025
  • Bitcoin’s Breakthrough at Davos: Crypto’s Future in Finance

    January 24, 2025
  • FTC bans fake online reviews, inflated social media influence; rule takes effect in October

    August 15, 2024
  • America has the power to lead the AI revolution – and the leadership to make it happen

    July 15, 2025

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 3

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 4

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (5,784)
  • Investing (634)
  • Stock (893)

Latest Posts

  • Nvidia CEO says he was wrong about timeline for quantum, surprised his comments hurt stocks

    March 21, 2025
  • White House Cabinet officials rally around Biden despite backlash over his wife taking control of meeting

    September 24, 2024
  • Interview: ‘No one, not even us, can see what you are doing’ — NymVPN’s CSO ahead of launch

    March 3, 2025

Recent Posts

  • Rubio reveals obscure Biden administration office kept ‘disinformation’ dossier on Trump official

    April 30, 2025
  • Voters report Kamala Harris is more radical than Trump: ‘too liberal or progressive’

    September 8, 2024
  • The price of Bitcoin continued last week’s bullish trend

    July 15, 2024

Editor’s Pick

  • Rubio meets Saudi Arabian officials ahead of US-Russia talks expected to lay groundwork for Trump-Putin summit

    February 17, 2025
  • Department of Justice freezes all civil rights division cases: report

    January 23, 2025
  • Amazon surpasses Walmart in revenue for the first time

    February 21, 2025
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock