It’s been a busy week for Lisa Nandy. First, the British politician was in the news this week for her intervention in Paramount’s takeover of Warner Bros. Discovery (WBD), and now she taking aim at Elon Musk.
The UK’s Secretary of State for Culture, Media and Sport has quit Musk’s social media platform X over concerns about its content and is taking her entire department with her.
In a post on the site today, she wrote: “I’ve decided to leave this platform and my Department will too. A platform originally designed for free speech and expression now favours abuse and misinformation over meaningful debate. It isn’t healthy for our democracy or our communities and I don’t want to support it.”
Since Musk, the world’s richest person, took over X (then Twitter) in 2022 in a $44B deal, the site has come under constant criticism for promoting extremist content and misinformation. It was widely condemned earlier this year when its AI tool, Grok, began creating thousands of sexualized images of women and children, and UK media regulator threatened to ban the entire platform before the practise was ended.
Nandy has been a consistent critic of X and has now moved to exit under protest. She will remain on Instagram, Facebook and LinkedIn.
The British Minister has been making headlines this week after saying she was “minded to intervene” in Paramount’s $110B deal for WBD on plurality grounds.
The minister has written to Paramount and WBD to outline her position, and both have until July 6 to respond before Nandy makes a formal decision on an intervention.
While most market watchers don’t expect Nandy to stop the deal, she could have a significant financial impact. Paramount needs to close the deal by the end of September before a ‘ticking fee’ commitment to WBD shareholders begins. This would see a payment of 25 cents a share — roughly $650M in total — for shelled out to investors for every quarter the takeover does not finalize beyond Q3.


