Acquisition of Twitter by Elon Musk

 A year ago Elon Musk purchased X, formerly known as Twitter, taking the platform on a journey that has resulted in lost money, advertisers and trust.

Musk closed the $44 billion deal on Oct. 27, 2022, facing a lawsuit that held him to terms of purchase he was keen to escape.

The new CEO of the company formerly known as Twitter says she's spent much of the past eight weeks trying to get big brands back and advertising on the social media platform that's been in upheaval since it was bought last year by Elon Musk.

Elon Musk says his potential in-person fight with Mark Zuckerberg would be streamed on his social media site X, formerly known as Twitter.

The two tech billionaires seemingly agreed to a "cage match" face-off in late June.

Following several complaints, Elon Musk's "X" sign has been removed from his social media company, formerly known as Twitter's San Francisco headquarters on Monday in the afternoon hours, The Hill reported.

Elon Musk says Twitter is still losing cash because advertising has dropped by half.

In a reply to a tweet offering business advice, Musk tweeted on July 15, "We're still negative cash flow, due to (about a) 50% drop in advertising revenue plus heavy debt load."

"Need to reach positive cash flow before we have the luxury of anything else," he concluded.

In what may be the clearest sign yet that Twitter sees Meta as a competitive threat, the former has threatened the latter with a lawsuit following the successful launch of Meta's new Twitter rival, Threads, reported CNN.

Twitter has threatened legal action against Meta over its new, text-based app called Threads, according to a letter obtained by Semafor.

Twitter has said the notion Elon Musk was "hoodwinked" into inking a $44 billion buyout deal defies reason and the facts.
In a filing on Aug.4, Twitter rejected counter claims made by Musk as he fights to walk away from the deal he inked in April to buy the company.

Twitter sued Tesla CEO Elon Musk on Tuesday to force him to complete the $44 billion acquisition of the social media company.

Musk and Twitter have been bracing for a legal fight since the billionaire said Friday he was backing off of his April agreement to buy the company.

Twitter has reportedly retained lawyers to sue Elon Musk for moving to drop his $44 billion takeover of the company