Twitter to Share Data at Heart of Musk Deal Dispute

Analysts have doubts about Elon Musk's notion of relying on subscriptions instead of ads at Twitter Britta Pedersen POOL/AFP/File
Analysts have doubts about Elon Musk's notion of relying on subscriptions instead of ads at Twitter Britta Pedersen POOL/AFP/File
TT

Twitter to Share Data at Heart of Musk Deal Dispute

Analysts have doubts about Elon Musk's notion of relying on subscriptions instead of ads at Twitter Britta Pedersen POOL/AFP/File
Analysts have doubts about Elon Musk's notion of relying on subscriptions instead of ads at Twitter Britta Pedersen POOL/AFP/File

Twitter will yield to Elon Musk's demand for internal data central to a standoff over his troubled $44 billion bid to buy the platform, US media reported on Wednesday.

The news comes just days after the Tesla chief threatened to back out of his deal to purchase Twitter, accusing it of failing to provide data on fake accounts, AFP said.

The Washington Post, New York Times and website Axios cited unnamed sources familiar with the negotiations as saying Twitter's board decided to let Musk access its full "firehose" of internal data associated with the hundreds of millions of tweets posted daily at the service.

"This would end the major standoff between Musk and the board on this hot button issue which has paused the deal," Wedbush analyst Dan Ives said in a tweet.

Twitter chief executive Parag Agrawal has said that fewer than five percent of accounts active on any given day at Twitter are bots, but that analysis cannot be replicated externally due to the need to keep user data private.

About two dozen companies already pay to access the massive trove of internal Twitter data, which includes records of tweets along with information about accounts and devices used to fire them off, according to the Post.

Twitter declined to comment on the reports but has defended its responsiveness to Musk's requests, and vowed to complete the deal on the original terms.

The mercurial Musk agreed to buy Twitter in a $44 billion deal in late April.

Twitter's top legal officer has told employees that a special shareholder vote whether to approve the buyout deal could be held in late July or early August, according to Bloomberg.

Musk began making significant noise about fake accounts in mid-May, saying on Twitter he could walk away from the transaction if his concerns were not addressed.

Some observers have seen Musk's questioning of Twitter bots as a means to end the takeover process, or to pressure Twitter into lowering the price.

The potential for Musk to take Twitter private has stoked protest from critics who warn his stewardship will embolden hate groups and disinformation campaigns.

US securities regulators have also pressed Musk for an explanation of an apparent delay in reporting his Twitter stock buys.

Twitter shares finished the official trading day slightly above $40, significantly lower than the $54.20 Musk agreed to pay when he inked the purchase deal.


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Venezuela's Top Court Issues a $10 Million Fine for TikTok over Allegedly Deadly Video Challenges

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The TikTok logo is pictured outside the company's US head office in Culver City, California, US, September 15, 2020. REUTERS/Mike Blake
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Venezuela’s Supreme Court on Monday issued a $10 million fine against TikTok for “not implementing measures” to prevent viral video challenges that have allegedly led to the deaths of three Venezuelan children recently.

Judge Tania D’Amelio said TikTok had acted in a negligent manner and gave it eight days to pay the fine, while also ordering the video service company to open an office in Venezuela that would supervise content so that it complies with local laws.

The judge did not explain how Venezuela would force TikTok, whose parent company is based in China, to pay the fine. Venezuela has blocked dozens of websites in previous years for not complying with regulations set by its telecommunications commission.

TikTok did not immediately respond to requests for comment from The Associated Press.

In November, Venezuelan President Nicolas Maduro blamed TikTok for the death of a 12-year-old girl who allegedly died after participating in a TikTok challenge that involved taking tranquilizer pills and not falling asleep.

Venezuela’s Education Minister Hector Rodriguez also said last month that a 14-year-old died after taking part in a TikTok challenge that involved sniffing substances. And on Nov. 21, Venezuela’s attorney general blamed video challenges on TikTok for the death of a third child.

Dozens of radio stations and television channels have been taken off the air in Venezuela under Maduro over their news coverage. More than 60 websites belonging to human rights groups and news companies were blocked at different times this year, according to VE Sin Filtro, a group that tracks media freedoms in the South American country.

In August, Venezuela banned the social media platform X as thousands of Venezuelans took to the streets t o protest the re-election of Maduro.

The Venezuelan government initially banned X for 10 days, after Maduro accused its owner Elon Musk of using the social media platform to “orchestrate attacks against Venezuela.” Musk had accused Maduro of rigging the July 28 election, which the United Nations and the Carter Center, an organization that monitors elections around the world, said did not meet international standards.

X can now be accessed on privately run internet providers in Venezuela, but it is still blocked by Venezuela’s state owned internet provider Movilnet.