Twitter accepts Musk’s offer to buy the company

What it means for the company: As part of the agreement to buy the company for $54.20 per share, Musk would also privatize the company, which means it could have less financial oversight from the SEC and potentially become less transparent to regulation by the state legislature.

What it means for Washington: Musk has described himself as a “free speech absolutist” and has criticized Twitter for not sharing as many views on the platform, including his own controversial conspiracy theories about Covid-19 treatments. That has raised expectations that it would facilitate content moderation and perhaps even allow former President Donald Trump to return to the platform (Twitter permanently suspended Trump for violating policies on incitement to violence following the January 6, 2021 uprising had violated).

The struggle for political speech: Firebrand conservative lawmakers — like Rep. Jim Jordan (R-Ohio) and Sen. Marsha Blackburn (R-Tenn.) — have welcomed a Musk takeover, saying it could allay their concerns that their views will be censored. Meanwhile, progressive groups have raised concerns that if Musk were to tweet, it could lead to more harassment and hate speech being faced by certain minorities on the platform – potentially driving those groups away.

Musk’s Twitter Vision: Musk has more than 83 million followers on Twitter and has already used his account to suggest major changes to the platform. He said Twitter should have an edit button (which was supported by Twitter itself and Musk’s followers) and advocated allowing public access to the platform’s algorithms to make their decisions about what content to highlight more transparent.

Getting started with the offer: Musk first submitted his unsolicited offer to buy Twitter on April 14. That comes after he bought nearly 10% of the company’s stock earlier this month — making it the largest shareholder at the time, though he’s since been overtaken by the Vanguard Group. Twitter accepts Musk’s offer to buy the company

Fry Electronics Team

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