Money

Another twist in the Musk and Twitter deal

Published

2 years ago

October 6, 2022

The trial between Twitter and Elon Musk is still set to go ahead

The trial between Twitter and Elon Musk is set to go ahead, in a strange series of events. This comes despite Musk’s recent change of heart over the deal to buy the social media platform

Delaware Court judge Kathaleen McCormick says neither party has applied for a “stay” in the action. Now, proceedings are still due to begin on October 17.

This comes a day Musk performed a U-turn, deciding to go ahead with the multi-billion dollar deal to buy the social media giant.

Musk’s lawyer says his client has “reconsidered his position” and is now “committed to completing the transaction.”

The transaction values Twitter at $54.20 per share, bringing the total sale price to around 44 billion.

The trial was scheduled to run over five days with Twitter arguing the Tesla CEO should be required to complete the transaction.

Musk launched a counterclaim, alleging the company suffered a substantial reduction in its value, rendering the deal invalid.

Related Topics:Elon Musk Featured musk Twitter

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William Howard

William is an Executive News Producer at TICKER NEWS, responsible for the production and direction of news bulletins. William is also the presenter of the hourly Weather + Climate segment. With qualifications in Journalism and Law (LLB), William previously worked at the Australian Broadcasting Corporation (ABC) before moving to TICKER NEWS. He was also an intern at the Seven Network's 'Sunrise'. A creative-minded individual, William has a passion for broadcast journalism and reporting on global politics and international affairs.

Money

Warner Brothers & Discovery considers splitting up to boost stock value

Published

1 week ago

July 19, 2024

ticker NEWS

Warner Bros Discovery is considering a strategic breakup to enhance its stock performance, according to a Financial Times report.

The potential move aims to unlock value by separating its media assets from its reality TV and lifestyle businesses.

This decision follows pressure from investors to improve stock performance, amidst challenges in the media industry #featured #trending

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Investors worldwide grow increasingly optimistic about Trump winning the election

Published

1 week ago

July 18, 2024

ticker NEWS

Investors are increasingly optimistic about Donald Trump’s potential re-election, prompting a resurgence in the so-called ‘Trump trade’.

Market participants are closely monitoring Trump’s political strategies and public sentiment, influencing their investment decisions.

Kyle Rodda from Captial.com joins to discuss all the latest.

Money

Netflix expands use of ads despite slow subscriber growth

Published

1 week ago

July 18, 2024

ticker NEWS

Netflix is intensifying its efforts to introduce an ad-supported tier amidst a plateau in subscriber growth.

The streaming giant hopes to attract new users and boost revenue by offering a cheaper alternative that includes advertisements.

This move marks a significant shift from its traditional ad-free model, reflecting Netflix’s response to competitive pressures and evolving consumer preferences.