WASHINGTON: Tesla CEO Elon Musk lost his fight to delay Twitter’s lawsuit against him as a Delaware judge on Tuesday set an October trial, citing the “cloud of uncertainty” over the social media company after the billionaire backed out of a deal to buy it.
“Delay threatens irreparable harm,” said Chancellor Kathaleen St. Jude McCormick, the head judge of Delaware’s Court of Chancery, which handles many high-profile business disputes. “The longer the delay, the greater the risk.”
Twitter had asked for an expedited trial in September, while Musk’s team called for waiting until early next year because of the complexity of the case. McCormick said Musk’s team underestimated the Delaware court’s ability to “quickly process complex litigation.”
Twitter is trying to force the billionaire to make good on his April promise to buy the social media giant for $44 billion — and the company wants it to happen quickly because it says the ongoing dispute is harming its business.
“It’s a very favorable ruling for Twitter in terms of moving things along,” said Carl Tobias, a law professor at the University of Richmond. “She seemed very concerned about the argument that delay would seriously harm the company, and I think that’s true.”
Musk, the world’s richest man, pledged to pay $54.20 a share for Twitter, but informed the company in July that he wants to back out of the agreement.
“It’s attempted sabotage. He’s doing his best to run Twitter down,” said attorney William Savitt, representing Twitter before McCormick on Tuesday. The hearing was held virtually after McCormick said she tested positive for COVID-19.
Musk has claimed the company has failed to provide adequate information about the number of fake, or “spam bot,” Twitter accounts, and that it has breached its obligations under the deal by firing top managers and laying off a significant number of employees. Musk's team expects more information about the bot numbers to be revealed in the trial court discovery process, when both sides must hand over evidence.
Twitter argues that Musk’s reasons for backing out are just a cover for buyer's remorse after agreeing to pay 38% above Twitter’s stock price shortly before the stock market stumbled and shares of the electric-car maker Tesla, where most of Musk’s personal wealth resides, lost more than $100 billion of their value.
Savitt said the contested merger agreement and Musk’s tweets disparaging the company were inflicting harm on the business and questioned Musk’s request for a delayed trial, asking “whether the real plan is to run out the clock.”
“He’s banking on wriggling out of the deal he signed,” Savitt said.
But the idea the Tesla CEO is trying to damage Twitter is “preposterous. He has no interest in damaging the company,” said Musk attorney Andrew Rossman, noting he is Twitter’s second largest shareholder with a “far larger stake” than the company's entire board of directors.
Savitt emphasized the importance of an expedited trial starting in September for Twitter to be able to make important business decisions affecting everything from employee retention to relationships with suppliers and customers.
Rossman said more time is needed because it is “one of the largest take-private deals in history” involving a “company that has a massive amount of data that has to be analyzed. Billions of actions on their platform have to be analyzed.”
Tobias said it’s still possible that Musk and Twitter will settle the case before it goes to trial, since both might find a drawn-out fight or the judge's final decisions costly to their businesses and reputations. One option is that Musk could pay the $1 billion breakup fee both he and Twitter agreed to if either was deemed responsible for the deal falling through. Or Twitter could push for him to pay more to make up for damages – just not the full $44 billion acquisition.
“Does Musk really want to run that company? Do they really want Musk to run that company?” Tobias said. “They could always settle somewhere in between.”
Twitter-Musk takeover dispute heading for an October trial
https://arab.news/84rvq
Twitter-Musk takeover dispute heading for an October trial
- Twitter is trying to force the billionaire to make good on his April promise to buy the social media giant for $44 billion — and the company wants it to happen quickly because it says the ongoing dispute is harming its business
‘Blockout’ trend targets celebrities over Gaza silence
- Selena Gomez, Zendaya and Kim Kardashian are among the celebrities who have lost hundreds of thousands of followers
- Boycott campaign gained traction following Met Gala event last week in New York
LONDON: A new trend threatening to boycott celebrities over their refusal to speak out about the Gaza conflict is gaining momentum on social media.
Known as “Blockout 2024,” the movement has surged in popularity following the Met Gala last week.
As part of a solidarity campaign, social media users are calling for the blocking of accounts of celebrities who have remained silent on the humanitarian crisis in Gaza.
High-profile figures such as Taylor Swift, Justin Bieber, and Drake are among the hundreds of celebrities facing this “digital guillotine.”
A full list is circulating on social media, leading to a significant loss of followers on Instagram and other platforms.
Actress and singer Selena Gomez reportedly lost 1 million followers on Instagram and 100,000 on X, according to US-based social media analytics site Sonic Blue.
Fellow actress and singer Zendaya, reality TV star Kim Kardashian, and her sister Kylie Jenner have also seen hundreds of thousands of followers drop.
Pro-Palestinian activists have been pressuring celebrities for months to show more support for Gaza civilians. This growing discontent reached a tipping point last week when the Met Gala’s glitz and glamour coincided with Israel’s announcement of a military offensive in Rafah.
@ladyfromtheoutside #greenscreen #greenscreenvideo #digitine #digitalguillotine #haleyybaylee ♬ original sound - Meagan
The movement was sparked by a TikTok video from influencer Haley Kalil at the Met Gala on May 7, where she lip-synced to the phrase “Let them eat cake.”
This phrase, attributed to Queen Marie Antoinette, drew parallels to the French Revolution, symbolizing indifference to the suffering of the impoverished.
“It’s time for the people to conduct what I want to call a ‘digital guillotine.’ A ‘digitine,’ if you will,” said TikTok creator @ladyfromtheoutside, who kicked off the movement with her viral video.
“It’s time to block all the celebrities, influencers and wealthy socialites who are not using their resources to help those in dire need. We gave them their platforms. It’s time to take it back, take our views away, our likes, our comments, our money.”
According to Gaza authorities, at least 35,000 people, mostly women and children, have been killed in the Palestinian territory during the seven-month war, which has been widely condemned as failing to comply with international humanitarian law.
Related
BBC investigation leads to arrest of one of world’s most notorious people smugglers
- Barzan Majeed, nicknamed ‘Scorpion,’ is caught in Iraqi Kurdistan days after release of BBC podcast series by journalists who tracked him down and interviewed him
- Senior local official confirms officials used information from the broadcaster’s investigation to help find fugitive believed to have helped smuggle thousands of people to UK
DUBAI: Kurdish security forces arrested Barzan Majeed, described as one of the world’s most notorious people smugglers, in Iraqi Kurdistan on Sunday morning.
Nicknamed “Scorpion,” the fugitive is believed to have been involved in smuggling an estimated 10,000 people across the English Channel to the UK. He was arrested days after the release of a BBC podcast series in which investigative journalists tracked him down to the city of Sulaymaniyah in Iraq and interviewed him there.
During the interview, Majeed said he had lost count of the number of people he helped to smuggle, adding: “Maybe a thousand, maybe 10,000. I don’t know, I didn’t count.”
He admitted that between 2016 and 2019 he was one of two people who helped run a people-smuggling operation in Belgium and France but denied he was the mastermind of the operation.
“A couple of people, when they get arrested, they say, ‘We’re working for him’ — they want to get less (of a) sentence,” he said.
Originally from Iraq, Majeed moved to the city of Nottingham, in England, in 2013 but was deported two years later. He had been on the run since failing to appear at a court in Belgium for a sentencing hearing in November 2022.
The UK’s National Crime Agency issued a warrant for his arrest that same year. The agency, which confirmed his arrest, said: “We are grateful to the BBC for highlighting his case and remain determined to do all we can to disrupt and dismantle the criminal networks involved in smuggling people to the UK, wherever they operate.”
A senior member of the Kurdistan Regional Government confirmed its officials had used information from the BBC investigation to locate and arrest Majeed.
Each year, thousands of people flee Iraq, including its Kurdistan Region, in the hope of finding a better life in the UK or other parts of Europe. In many cases, they pay people smugglers to transport them, but the routes and methods used by the smugglers are often dangerous and the migrants face harsh weather and potentially deadly travel conditions.
Germany deported 222 Iraqi citizens in the first three months of this year as part of an alleged agreement between Berlin and Baghdad to deport migrants who do not qualify to remain in Germany, media organization Rudaw, which is based in Iraqi Kurdistan, reported this week.
Saudi radio station MBC FM marks 30 years of broadcasting with special events
- Bosses say the celebrations honor the pioneering station’s enduring contributions to the media landscape in the Kingdom
- ‘MBC FM has captured the ears and hearts of millions of Saudis over 3 decades’ and ‘continues to lead the radio airwaves with the love and loyalty of listeners,’ says group’s chairperson
LONDON: As pioneering Saudi radio station MBC FM celebrates three decades of broadcasting in the Kingdom, it is marking the milestone with a series of events and initiatives at the MBC Group headquarters in Riyadh under the theme “30 and Still Going Strong.”
The celebrations, which began on May 12, honor the station’s enduring contributions to Saudi Arabia’s media landscape, bosses said. They include competitions, entertainment events and exclusive interviews with renowned artists and stars from across the Gulf region and the wider Arab world.
“Just as MBC FM has captured the ears and hearts of millions of Saudis over three decades, being the first commercial FM radio station in the Kingdom, the radio and music sector at MBC Group today continues to lead the radio airwaves with the love and loyalty of listeners,” said Walid Al-Ibrahim, the chairperson of MBC Group.
In addition to providing entertainment for listeners, the station has served as a launchpad for emerging talent, he added, as he highlighted its influence on local culture.
Ziad Hamza, general manager of the radio and music Sector at MBC Group, said the station remains committed to its ongoing evolution while also honoring its strong history and legacy. In particular he highlighted investments in infrastructure, diversity of content and audience engagement as the station adapted to changing tastes and preferences among listeners.
“We have worked on developing the infrastructure and creating a comprehensive modern environment for the radio sector … by investing in Saudi youth talents, including radio presenters, producers, programmers and technicians,” said Hamza.
“We have also launched the MoodMBC application, which includes MBC FM, Panorama FM and MBC Podcast, in addition to enhanced options for direct communication, as well as rich and diverse content catering to poetry lovers, music session enthusiasts, and current affairs followers.
“Our goal has always been to strike a balance between the tastes of listeners and the needs of advertisers, facilitating our clients’ access to various target audience segments around the clock.”
Gulf news agencies discuss fake news, joint media strategy
- Meeting discussed plans for a collaborative media strategy for 2023-30
RIYADH: The threat of fake news and a program for personnel exchanges were among the topics discussed at the 23rd meeting of the heads of the news agencies of Gulf Cooperation Council countries on Monday.
The talks, held virtually, were chaired by Ahmed bin Saeed Al-Rumaihi, director-general of the Qatar News Agency, the Saudi Press Agency reported.
The meeting also discussed the decisions made during the 26th gathering of GCC Ministers of Media, most notably the plans for a collaborative media strategy for 2023-30.
The delegates stressed the need for more training courses and workshops and looked into a report about misleading and false news reports. The meeting also outlined plans for an upcoming photography exhibition.
The attendees approved a program for exchange visits between editors, photographers and technicians across the region, and expressed their support for the Bahrain News Agency’s coverage of the 33rd Arab Summit on Thursday.
Saudia Airlines to bring AlUla FM onboard in new strategic partnership
- Initiative aims to raise awareness and appreciation of AlUla’s rich cultural heritage, company says
LONDON: Saudia Airlines announced it is brining AlUla FM radio to its onboard entertainment as part of a strategic partnership with the Royal Commission for AlUla.
Announced on Monday, the new initiative aims to raise “awareness and appreciation of AlUla’s rich cultural heritage among passengers and those intrigued by Saudi Arabia’s offerings,” the companies said in a statement.
“AlUla’s rich stories and deep cultural legacy are taking flight with Saudia,” said Abdulrahman Altrairi, chief communications and PR officer, and official spokesperson for the RCU during a presentation with Khaled Tash, Saudia’s group chief marketing officer.
“Our new agreement promotes cultural heritage, RCU partnership network and invites new audiences to join in the expansion of AlUla as a global destination and AlUla FM as an audio platform.”
The Saudi national carrier said that AlUla FM is now accessible on all flights through the airline’s “Beyond” inflight entertainment system, in what the radio described as a major advancement in its evolution as an audio platform.
Since its official launch in 2020 under the banner “The Sound of Arabia,” AlUla FM has served as a platform for the promotion of AlUla, broadcasting local narratives to an international audience through regular and seasonal shows and programs.
