This page hosts daily news stories about the media, social media, and journalism industry. Get the latest Hirings and Firings, Media Transactions, Controversies, and more.
Elon Musk Merges xAI and X in $45 Billion Deal
Elon Musk announced the acquisition of his social media platform X by his artificial intelligence company, xAI, in a $45 billion all-stock transaction. The merger aims to integrate data, models, computing power, and user reach to enhance AI development. The deal values xAI at $80 billion and X (formerly Twitter) at $33 billion—over $10 billion less than Musk paid in 2022. The combined entity will seek to deliver smarter user experiences while advancing human progress. xAI’s Grok chatbot is already integrated on X, signaling further convergence between the two companies. (Read More) (The Hill Rating)
Radio Free Asia Faces Shutdown Amid Legal Battle with Trump Administration
Radio Free Asia (RFA) warned it will cease operations by the end of April if a court does not intervene to block the Trump administration’s move to cut its funding. The broadcaster has filed a legal motion emphasizing the damage to its operations and reputation, noting 75% of U.S. staff have been furloughed and most freelance work suspended. RFA, operational since 1996, reaches over 60 million people across Asia, providing independent news in regions with restricted press freedom. (Read More) (Yahoo News Rating)
Trump Commutes Sentence of Ozy Media Co-Founder Carlos Watson
President Trump commuted the 116-month prison sentence of Carlos Watson, co-founder of now-defunct Ozy Media, shortly before Watson was to begin serving time. Convicted in 2023 for fraud-related charges, Watson has maintained his innocence, alleging a malicious campaign by a rival media entity. Federal prosecutors accused him of defrauding investors through misrepresentation of Ozy’s financial state. Trump’s action follows other high-profile clemencies, including for Jan. 6 rioters and Nikola founder Trevor Milton.
(Read More) (The Hill Rating)
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