The owner of Twitter, South African billionaire Elon Musk, has seen his investment in the social media company reduced in value due to the loss of advertisers, and now he’s looking to lose the support of media groups like The New York Times, National Public Radio, and even the BBC.
Musk accused the Times to be biased and labeled the NPR a “U.S. state-affiliated media” (later changed to “government-funded media”), instead of “public media.” Under the current label, Musk is putting NPR and the BBC at par with Russia’s RT network, and China’s Xinhua News Agency. For this reason NPR has deactivated its Twitter accounts.
Since Musk took over Twitter last October, he has fired 6,500 employees (keeping a workforce of just 1,500), but is still operating with $6 billion in annual expenses, including $1.5 billion in debt servicing. At the same time, he has created a new company name for Twitter, X Corp., merging Twitter, Inc. into X Corp., a privately held company incorporated in the state of Nevada.
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