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Elon Musk Becomes Twitter’s Largest Shareholder

“Musk’s stake is worth nearly three billion dollars and he is now the company’s biggest shareholder.”

Ryan Hedrick

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Elon Musk has purchased a 9.2% stake in Twitter which amounts to 73,486,938 shares in the company. In the past, the Tesla CEO has criticized the platform for censoring people who hold certain beliefs.

“Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy,” Musk tweeted. “What should be done?”

Wedbush analyst Dan Ives appeared on Monday’s “Squawk Box” on CNBC and said Musk could try to take a more aggressive stance on Twitter which could lead to “some sort of buyout.”

“This makes sense given what Musk has at least been talking about, at least from a social media perspective,” Ives said.

According to CNBC, a regulatory filing released this morning, Musk owns nine-point-two percent of the company. The stake is worth nearly three billion dollars and he is now the company’s biggest shareholder. Recently Musk hinted that he would start his own social media company.

Musk has more than 80 million Twitter followers on the platform.

“I think this is just the starter,” Ives said, referring to the Musk purchase. “Musk is not going to do this just to take a passive stake. He’s ultimately trying to change Twitter, in terms of a more active stake or eventually this could lead to a buyout.”

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Media Business

NBCUniversal Communications Head Follows Linda Yaccarino to Twitter

Benarroch joined NBCUniversal in 2018, bringing with him over six years of experience from his tenure at Facebook as its director of communications.

Maddy Troy

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Joe Benarroch, the former head of communications at NBCUniversal, is making a move to Twitter, following in the footsteps of his former boss Linda Yaccarino, who was recently appointed as CEO by Elon Musk.

Benarroch announced his transition in an email, stating that he will be assuming a new role focused on business operations at Twitter.

“It’s been an absolute honor being at NBCUniversal, where I’ve been able to work with Linda and our leadership team — to champion and scale our business priorities, create meaningful advocacy, and help build incredible partnerships across this entire industry,” he said.

“I am looking forward to bringing my experience to Twitter, and to working with the entire team to build Twitter 2.0 together.”

Yaccarino previously served as the head of advertising sales and partnerships for NBCUniversal, while Benarroch worked closely with her as the head of communications.

Benarroch joined NBCUniversal in 2018, bringing with him over six years of experience from his tenure at Facebook as its director of communications. Prior to his time at Facebook, he held positions at IPG, Discover, Starcom, and Leo Burnett, according to Media Post.

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Leaked Tucker Carlson Videos Lead to DOJ Criminal Investigation

Tucker Carlson has not provided a comment on the matter, and the FBI declined to comment on the ongoing investigation.

Maddy Troy

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The Department of Justice (DOJ) has initiated a criminal investigation into the leak of behind-the-scenes footage featuring former Fox News host Tucker Carlson.

In a letter obtained by CNN, US Attorney Roger Handberg and Assistant US Attorney Jay Trezevant informed Fox News of the probe, stating that the Justice Department currently considers Fox Corporation as a potential victim-witness in the alleged criminal activity.

The letter, dated Thursday, outlined the various potential criminal violations being investigated, including unauthorized access of a computer, interception, and disclosure of communication, conspiracy, and other federal criminal statutes. The DOJ specifically linked the investigation to the leaked videos published by progressive watchdog Media Matters, which exposed Carlson making controversial remarks and mocking the Fox Nation streaming service.

After Carlson’s termination from Fox News in April, Media Matters released the footage, prompting a cease-and-desist letter from Fox in May, accusing the organization of unlawfully obtaining the unpublished material.

Media Matters defended its actions, asserting that it was reporting on newsworthy leaked content, which it considers a fundamental aspect of journalism. Despite the demand from Fox News, Media Matters continued to release additional leaked footage of Carlson.

The Justice Department’s letter to Fox News explicitly tied the ongoing criminal investigation to the leaked videos published by Media Matters. It also mentioned leaked footage from Carlson’s interview with Kanye West, which was published by Vice News. Media Matters reiterated its position on reporting newsworthy material, while Vice News declined to comment.

The DOJ’s letter emphasized that it was not making any allegations or suggestions of wrongdoing against the publishers of the leaked videos. The Tampa Bay Times reported that the FBI executed a search warrant at the residence of former Deadspin video editor Timothy Burke.

While the DOJ letter did not mention Burke, Mark Rasch, an attorney representing Burke, confirmed that a search warrant had been executed at his client’s home. Rasch stated that Burke denies any criminal misconduct and had not yet seen the affidavit supporting the search warrant.

As of now, Tucker Carlson has not provided a comment on the matter, and the FBI declined to comment on the ongoing investigation.

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YouTube Relaxes Content Monitoring for 2024 Election Cycle

YouTube has experienced massive pushback in recent years, as creators move to sites like Rumble to discuss “politically incorrect” subject matter.

Maddy Troy

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On Friday, YouTube announced a significant decision to halt the removal of content that promotes false claims regarding fraud, errors, or glitches in the 2020 and previous U.S. Presidential elections.

“Two years, tens of thousands of video removals, and one election cycle later, we recognized it was time to re-evaluate the effects of this policy in today’s changed landscape,” the YouTube Team stated. 

The alteration specifically pertains to the removal of election-related content but does not alter YouTube’s rules concerning misinformation, hate speech, harassment, or incitement to violence.

YouTube has reversed its stance on blocking controversial content during this election season, arguing the ability to openly debate political ideas is vital to a functioning democratic society. YouTube has experienced massive pushback in recent years, as creators move to sites like Rumble to discuss “politically incorrect” subject matter, creating internal pressure to address the policy.

Advertisers are still required to adhere to YouTube’s advertising policies, which prohibit the dissemination of demonstrably false claims that could undermine participation or trust in electoral or democratic processes.

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