The World Federation of Advertisers is discontinuing its Global Alliance for Responsible Media initiative, days after being sued by X, over allegations of coordinating a massive advertiser boycott following Elon Musk's purchase of the company in 2022.
X sued WFA and companies like Unilever, Mars, CVS Health, and Orsted, accusing GARM of contributing to an advertising pause post-Musk's acquisition of the company, alleging a conspiracy to withhold billions in advertising revenue and violations of antitrust laws.
X CEO Linda Yaccarino praised GARM's discontinuation as a necessary step, emphasizing that no small group should dominate monetization. Despite this apparent victory, X might face a tough legal battle with the sued advertisers.
#world-federation-of-advertisers #global-alliance-for-responsible-media #lawsuit #advertiser-boycott #antitrust-laws
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