The largest US automaker pulled out of paid Twitter advertising after Elon Musk completed his acquisition of the social media company.
Musk’s $ 44 billion (£ 38 billion) deal to buy Twitter completed Thursday and reportedly fired the company’s chief executive and two other senior bosses.
The richest man in the world tweeted earlier “the bird is set free” and “let the good times roll”. a tweet Friday announcing the establishment of the content moderation board.
On Friday, GM Motors Co said in a statement that it has temporarily suspended paid ads on the platform as “normal course of business” after a significant change in a multimedia platform.
The Detroit automaker said it was “engaging with Twitter to understand the direction of the platform under their new ownership,” adding that “customer support interactions on Twitter will continue.”
Ad sales accounted for over 90% of Twitter’s revenue in the second quarter.
Some advertising agencies and brands expressed skepticism and concern about Twitter’s future in a presentation in May.
Tesla and SpaceX boss Musk, who described himself as a “free speech absolutist,” appealed directly to advertisers in an open-letter tweet on the eve of the deal being concluded.
He said: “Twitter obviously cannot become a free hell, where anything can be said without consequence! … Twitter aspires to be the most respected advertising platform in the world that strengthens your brand and grows your business.”
Musk then tweeted on Friday that the social media platform will form a moderation council “with widely differing views” and that “no major content or account restoration decisions” will be made before it meets.
In a subsequent tweet, he said the company “hadn’t” made any changes to its content moderation policies yet.
Musk had previously promised to review the service by eliminating fake accounts and ensuring it was a place where “a range of beliefs can be questioned in a healthy way.”
Donald Trump – arguably once the most famous Twitter user – is among those who may have their account restored.
The former president was banned after the siege of the United States Capitol in January 2021 for allegedly inciting violence with two of his posts.
However, Moss earlier this year he called the ban a “mistake” and “morally wrong”.
Read more:
Super app or Wild West? The future of Twitter under Elon Musk
Musk’s Twitter purchase was completed one day before the October 28 deadline to prevent the deal from going to court. The company had taken legal action to force the deal after Musk withdrew in July due to the number of fake and spam accounts.
Earlier this week, Musk posted a bizarre video of himself walk into Twitter’s San Francisco office carrying a sink next to the message: “Enter Twitter HQ – let it sink.”
Musk, who updated his Twitter bio to “Chief Twit”, said Thursday that he didn’t buy the social media platform to make more money but “to try and help humanity, which I love.”
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