Latest Social media industry News

'Expressive times': Publishing industry an open book in 2022

Dec. 07, 2022 09:36 AM EST

NEW YORK (AP) — In 2022, the story of book publishing was often the industry itself. Penguin Random House's attempt to purchase Simon & Schuster ended up in a Washington, D.C. courtroom, as the Department of Justice prevailed after a three week antitrust trial last summer that...

UK waters down online restrictions after free speech outcry

Nov. 28, 2022 17:36 PM EST

LONDON (AP) — The British government on Monday abandoned a plan to force tech firms to remove internet content that is harmful but legal, after the proposal drew strong criticism from lawmakers and civil liberties groups. The U.K. has watered down its Online Safety Bill, an...

Amazon begins mass layoffs among its corporate workforce

Nov. 16, 2022 17:20 PM EST

NEW YORK (AP) — Amazon has begun mass layoffs in its corporate ranks, becoming the latest tech company to trim its workforce amid rising fears about the wider economic environment. On Tuesday, the company notified regional authorities in California that it would lay off about 260...

Musk testifies in lawsuit over Tesla compensation package

Nov. 16, 2022 14:47 PM EST

WILMINGTON, Del. (AP) — Tesla CEO Elon Musk took the witness stand Wednesday to defend himself in a shareholder lawsuit challenging a compensation package he was awarded by the company’s board of directors that is potentially worth more than $55 billion. Musk denied that he...

Musk warns Twitter's survival is at stake as staff quits

Nov. 10, 2022 20:24 PM EST

Elon Musk warned Twitter employees Thursday to brace for “difficult times ahead” that might end with the collapse of the social media platform if they can't find new ways of making money. Workers who survived last week's mass layoffs are facing harsher work conditions and growing...

Facebook parent Meta cuts 11,000 jobs, 13% of workforce

Nov. 09, 2022 19:55 PM EST

Facebook parent Meta is laying off 11,000 people, about 13% of its workforce, as it contends with faltering revenue and broader tech industry woes, CEO Mark Zuckerberg said in a letter to employees Wednesday. The job cuts come just a week after widespread layoffs at Twitter under its...

Nets suspend Kyrie Irving for at least 5 games without pay

Nov. 04, 2022 10:22 AM EDT

NEW YORK (AP) — The Brooklyn Nets suspended Kyrie Irving for at least five games without pay Thursday, dismayed by his repeated failure to “unequivocally say he has no antisemitic beliefs.” Hours after Irving refused to issue the apology that NBA Commissioner Adam Silver sought...

Editorial Roundup: Florida

Nov. 02, 2022 14:36 PM EDT

Sun Sentinel. November 1, 2022. Editorial: The hate around us draws a pathetic DeSantis response Silence speaks volumes. Sometimes it screams. It’s now shouting at peak decibels amid the failure of Gov. Ron DeSantis, and many lesser politicians, to...

Musk takes over Twitter and faces social media crash course

Oct. 29, 2022 01:04 AM EDT

Twitter's newly minted owner, the self-described “free speech absolutist” Elon Musk, is about to get a crash course on global content moderation. Among his first moves after completing his $44 billion takeover Thursday was to fire the social media platform's top executives,...

Judge orders Meta to pay $10.5M in legal fees to Washington

Oct. 28, 2022 20:56 PM EDT

SEATTLE (AP) — Facebook parent company Meta has been ordered to pay $10.5 million in legal fees to Washington state atop a nearly $25 million fine for repeated and intentional violations of campaign finance disclosure laws. King County Superior Court Judge Douglass North issued the...