X is gaining back some company ads and suing others
Elon Musk’s social-media company X added more major brands to its lawsuit claiming an ad-industry coalition illegally boycotted the site.
X, formerly known as Twitter, named Nestlé, Abbott Laboratories, Colgate-Palmolive, Lego, Pinterest, Tyson Foods and Shell as new defendants in a Saturday legal filing in a federal court in Texas. The lawsuit claims the companies and the advertising trade group World Federation of Advertisers violated antitrust laws and conspired to collectively withhold billions of dollars in advertising from the platform.
Companies named in the lawsuit had no immediate comment. The World Federation of Advertisers has previously said that the lawsuit misconstrues the purpose and actions of its responsible media efforts and is significantly draining its finances.
X first filed the suit in August, initially naming companies including Mars, CVS Health, Danish wind energy group Orsted, and Twitch, the livestreaming site owned by Amazon.com.
Amazon had pulled much of its advertising on X but is ramping up its ad spending on the site in a shift that involved its chief executive, Andy Jassy, The Wall Street Journal reported.
Some companies that previously slashed their ad spending on X have been reconsidering due to the changing political and social climate. As Musk has emerged as one of the most powerful people in President Trump’s orbit, business and world leaders have taken steps to improve relations with him.
Musk’s X Adds Nestlé, Colgate, Shell, Other Brands to Ad-Boycott Suit - WSJ |
