Elon Musk buys Twitter

Social media company Twitter and tech billionaire Elon Musk have achieved a deal for sale.

Elon Musk will purchase Twitter for approximated $44 billion US dollars.

Bret Taylor, Twitter's Independent Board Chair, said, "The Twitter Board conducted a thoughtful and comprehensive process to assess Elon's proposal with a deliberate focus on value, certainty, and financing. The proposed transaction will deliver a substantial cash premium, and we believe it is the best path forward for Twitter's stockholders."Parag Agrawal, Twitter's CEO, said, "Twitter has a purpose and relevance that impacts the entire world. Deeply proud of our teams and inspired by the work that has never been more important."

In a statement announcing the deal Mr Musk said, "Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated... Twitter has tremendous potential — I look forward to working with the company and the community of users to unlock it.”

Leading digital rights group Electronic Frontiers Australia Chair Justin Warren to ABC, “EFA's policy positions don't change based on who owns a social media company. Australians still need much stronger privacy protections, and fundamental rights protected by federally enforceable laws. Then it wouldn't matter who owns Twitter.”

- CyberBeat