By Clare Duffy and Ramishah Maruf | CNNNew York — Elon Musk’s X has accused a group of major advertisers of antitrust violations in a new lawsuit claiming the group conspired to “boycott” advertising on the platform. The lawsuit claims an influential ad industry group organized “to collectively withhold billions of dollars in advertising from Twitter” because the group was concerned that the platform had deviated from brand safety standards after Musk’s acquisition in late 2022. The lawsuit is the latest effort by X to revive its core ad business, which has tanked since Musk’s takeover. It’s not the first time X has filed a lawsuit related to its declining ad business. The suit accuses Media Matters of distorting how likely it is for ads to appear beside extremist content on X.

Source: CNN August 07, 2024 16:18 UTC