A looser content moderation approach at Twitter under Elon Musk's ownership risks turning it into a fringe, extremist platform like 4chan, House Judiciary Committee Chairman Jerry Nadler, D-N.Y., told us Thursday. “I’m concerned with what he’s rumored or said to believe” in terms of moderation, said Nadler: “That means you’re going to have all this disinformation on Twitter that wouldn’t have been previously allowed. That would concern me.” The Judiciary Committee will have to “wait and see” whether action is necessary, he said.
Karl Herchenroeder
Karl Herchenroeder, Associate Editor, is a technology policy journalist for publications including Communications Daily. Born in Rockville, Maryland, he joined the Warren Communications News staff in 2018. He began his journalism career in 2012 at the Aspen Times in Aspen, Colorado, where he covered city government. After that, he covered the nuclear industry for ExchangeMonitor in Washington. You can follow Herchenroeder on Twitter: @karlherk
The FTC appears to be taking too broad of an approach to its potential privacy rulemaking (see 2204180049), Commissioner Noah Phillips told us Monday. He spoke at a George Mason University event the day after Senate Majority Leader Chuck Schumer, D-N.Y., announced the Senate plans to confirm Alvaro Bedoya as fifth commissioner this week.
Elon Musk will buy Twitter for $44 billion and take it private (see 2204210038), the company announced Monday to Republican cheers and Democratic concerns. Unanimously approved by Twitter’s board, the deal is expected to close this year, the company said. Stockholders will receive $54.20 cash for each share of Twitter common stock, a 38% premium to Twitter's closing stock price April 1, the company said. Musk disclosed his 9% stake in Twitter on March 31. Stock dropped 5.66% Monday, closing at $51.70.
The FTC and DOJ are relying on faulty antitrust theories to single out digital platforms, tech industry groups told the agencies in comments on enforcers’ review of merger guidelines (see 2204080056). Sector-specific antitrust laws are appropriate due to the unprecedented control companies like Amazon, Facebook and Google have over digital markets, consumer groups told the agencies.
Expect the FTC to quickly initiate a comprehensive privacy rulemaking after nominee Alvaro Bedoya is confirmed (see 2204150063), former officials and advocates said in interviews.
The FTC’s Democratic leadership set “very high” expectations for expanding the agency’s authority that aren’t in line with legal realities, Commissioner Noah Phillips said Tuesday. He spoke at the International Association of Privacy Professionals’ global privacy summit the day after Chair Lina Khan opened the conference, telling attendees the agency is considering new marketwide rules to provide clear notice and more efficient enforcement.
Antitrust filing fees should be increased and enforcer deadlines extended to reflect modern markets, FTC Chair Lina Khan said Friday. Congress’ assumptions when the Hart-Scott-Rodino Act passed in 1976 are now severely outdated, considering the recent surge in merger filings, she said during the American Bar Association’s antitrust law spring meeting in Washington.
It’s not the FTC’s job to remedy illegal transactions if parties propose “facially anticompetitive deals,” Chair Lina Khan said Monday during an enforcers’ summit with DOJ’s Antitrust Division. Some transactions are illegal on the face, and enforcers need the tools and confidence to block, she said. The FTC’s Republican commissioners didn’t appear at the summit.
The door is open for Congress to name conferees to negotiate its China package, after both chambers cleared procedural hurdles last week (see 2203230065). Senators expressed optimism Majority Leader Chuck Schumer, D-N.Y., would achieve his goal of naming conferees to a formal negotiation before the end of the work period Friday. Sen. Rick Scott, R-Fla., criticized the lack of return on provisions that would send billions to Intel, the largest American semiconductor manufacturer.
Russia didn’t offer any “swap” or “concession” in exchange for the U.S. release of Russian cyber hacker Aleksei Burkov in August, FBI Cyber Division Assistant Director Bryan Vorndran told the House Judiciary Committee at a hearing Tuesday. The division can’t comment on the wisdom of the release because it’s the Secret Service’s case, he said.