MOSCOW, August 9 An influential advertising industry group has announced that it is ceasing operations in connection with a lawsuit filed by American billionaire Elon Musk's company, which owns the social network X, the New York Times writes, citing internal correspondence.
Musk has previously «declared war» on companies that boycott his social network X and do not place ads there. CEO Linda Yaccarino said the company has filed an antitrust lawsuit against the Global Alliance for Responsible Media (GARM) and the World Federation of Advertisers (WFA) for an «illegal» boycott.
The Federation of Advertisers denies that GARM’s activities have broken the law, but said the non-profit does not have the financial resources to continue operating during the legal battle. WFA Executive Director Stefan Loehrke told members in an email that GARM would cease operations immediately. “This decision was not taken lightly, but GARM is a non-profit and has limited resources,” the newspaper quoted the email as saying.
The news of GARM’s demise was greeted with joy at X. “This is an important recognition and a necessary step in the right direction. I hope this means that reform of the entire ecosystem is coming,” Yaccarino said in a statement.
GARM was created after video of the 2019 Christchurch mass shooting emerged on social media. Advertisers joined the non-profit to pressure social platforms to adopt stricter content moderation rules. Following Musk's acquisition of the social network, GARM recommended that its members freeze advertising spending on the platform.
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