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Exclusive: LVMH media unit refrains from lawsuit against Musk-owned X - sources

The article from Reuters discusses how LVMH's media unit, Les Echos, has decided not to pursue a lawsuit against X Corp, formerly known as Twitter, over unpaid invoices. According to sources familiar with the matter, Les Echos, which had been in discussions with X Corp regarding payment for advertising services, chose to refrain from legal action. This decision comes amidst broader financial challenges for X Corp, which has been dealing with a significant drop in advertising revenue since Elon Musk's acquisition. The situation highlights the financial strain on X Corp, with Musk himself mentioning that the company's valuation has halved since he bought it, and it is currently facing a cash flow negative status due to a 50% drop in ad sales and heavy debt.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/media-telecom/lvmh-media-unit-refrains-lawsuit-against-musk-owned-x-sources-2025-02-11/ ]