The Global Alliance for Responsible Media, a nonprofit initiative founded by the World Federation of Advertisers, said Thursday it would halt its activities because it couldn’t afford to fight a lawsuit from X. The Elon Musk-owned social platform sued the group over a boycott that deprived the company of billions of dollars in ad revenue.
In an email to members, WFA CEO Stephan Loerke said the WFA will remain fully operational, and had every intention of fighting X’s lawsuit in court, according to Business Insider and the New York Times, who obtained the email.
