Twitter on Monday confirmed it is selling the platform to billionaire entrepreneur Elon Musk in a deal valued at $44 billion.<\/p>\n
The sale was a dramatic shift for the board, which had originally maneuvered to block Musk from taking the social media network private.<\/span><\/p>\n \u201cFree speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated,\u201d Musk said in a joint statement announcing the takeover.<\/span><\/p>\n Musk had taken a major stake in the firm earlier this month before lining up last week some $46.5 billion in financing to push forward with the purchase.<\/span><\/p>\n Twitter board chair Bret Taylor said the body \u201cconducted a thoughtful and comprehensive process to assess Elon\u2019s proposal with a deliberate focus on value, certainty, and financing,\u201d according to the statement.<\/span><\/p>\n \u201cThe proposed transaction will deliver a substantial cash premium, and we believe it is the best path forward for Twitter\u2019s stockholders.\u201d<\/span><\/p>\n The polarizing Tesla chief\u2019s campaign to buy the social media giant sparked concern that his unpredictable statements and alleged bullying are contradictory to his stated aims for the platform.<\/span><\/p>\n AFP<\/span><\/p>\n","protected":false},"excerpt":{"rendered":" Twitter on Monday confirmed it is selling the platform to billionaire entrepreneur Elon Musk in a deal valued at $44 billion. The sale was a dramatic shift for the board, which had originally maneuvered to block Musk from taking the social media network private. \u201cFree speech is the bedrock of a functioning democracy, and Twitter […]<\/p>\n","protected":false},"author":1,"featured_media":7474,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[4505,4504,1391],"class_list":["post-7473","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-elon-musk","tag-tesla","tag-twitter"],"_links":{"self":[{"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/posts\/7473"}],"collection":[{"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/theblogonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7473"}],"version-history":[{"count":1,"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/posts\/7473\/revisions"}],"predecessor-version":[{"id":7475,"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/posts\/7473\/revisions\/7475"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/media\/7474"}],"wp:attachment":[{"href":"https:\/\/theblogonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7473"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/theblogonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7473"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/theblogonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7473"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}