X filed a lawsuit on Tuesday against the Global Alliance for Responsible Media, a coalition of major advertisers, claiming that it had violated antitrust laws by coordinating with brands to dissuade them from spending money on the social media platform.
“The illegal behavior of these organizations and their executives cost X billions of dollars,” wrote Linda Yaccarino, X’s chief executive, in an open letter to advertisers.
“People are hurt when the marketplace of ideas is undermined and some viewpoints are not funded over others as part of an illegal boycott.”With the lawsuit, X effectively declared war on advertisers, which provide the bulk of the social media company’s revenue.
Since Mr. Musk acquired the company and promised to usher in a new era of unfettered free speech, many advertisers have limited their spending on X, concerned by reports of rising hate speech and misinformation there.
By pursuing legal action against GARM, Mr. Musk continued to break with the leaders of other social media companies, who have forged close relationships with advertisers and been responsive to their concerns about offensive online content.
Persons:
X, “, Elon, ”, Linda Yaccarino, Musk
Organizations:
Global Alliance, Responsible Media, CVS, Unilever, Mars, “, ”, GARM
Locations:
Texas, Danish, Elon Musk’s