Twitter has agreed to accept a $US44 billion ($61.3 billion) takeover bid from billionaire Elon Musk in a deal that's set to shake up the social media platform as we know it.
Efforts to moderate free speech on Twitter will likely be the big change, which could allow controversial voices back onto the platform, such as former US president Donald Trump.
Mr Musk has publicly criticised the platform's moderation of speech on several occasions.
But what does this mean for Twitter users and how will the platform change?
Elon Musk's offer has been accepted, now what?
Wedbush analyst Dan Ives says Twitter users can expect "a shake-up".
But even Mr Ives admits there's more questions than answers at this point.
Twitter's board of directors chair, Bret Taylor, says the company will operate as it has been until the deal is closed.
"I think we feel very comfortable that [the deal] gives this team the ability to continue to make the company successful in between signing and closing the transaction," Mr Taylor says.
How is he paying for it?
Mr Musk said last week that he had lined up $US46.5 billion ($64.7 billion) in financing for the purchase.
Documents filed with US securities regulators showed that Morgan Stanley, Bank of America and other banks had promised to lend him $US25.5 billion, underwritten by Musk's Tesla shares.
Mr Musk is understood to have covered the remaining billions himself.
How will Twitter change for users?
Not a whole lot will change right away because the deal has not closed yet.
However, Mr Musk has mentioned what he would like to change in a series of tweets over the past two weeks, these include:
- defeating spam bots
- human authentication
- new features
- making the algorithms open source
- implementing free speech on the platform.
He also posted a poll on Twitter on April 4, asking his followers if they'd like an edit button.
Will Donald Trump make his return to the platform?
There has been some speculation that controversial celebrities and political figures such as Mr Trump will be allowed back on the platform, but the former US president says he won't be rejoining Twitter.
He told Fox News that he would, instead, focus on his own social media platform, Truth Social.
“I hope Elon buys Twitter because he’ll make improvements to it and he is a good man, but I am going to be staying on Truth.”
Mr Trump was barred from Twitter after the deadly January 6, 2021 insurrection, when protesters stormed the US Capitol building.
Could anything stop this deal from happening?
Shareholders are yet to weigh in but the deal is expected to close some time this year.
A shareholder vote could be held as soon as May 25, at the company’s annual meeting.
Regulators also need to review the deal, however, Wedbush analyst Mr Ives says no major hurdles are expected.
The process is off to a good start for Mr Musk, given that Twitter’s board has unanimously approved his offer and is recommending shareholders do the same.
ABC/wires
