MarketWatch First Take: Twitter ‘a valuable national asset, if it’s run well’ says AMC CEO

by | Nov 8, 2022 | Stock Market

AMC Entertainment Holdings Inc. CEO Adam Aron described Twitter as “a valuable national asset, if it’s run well,” during the conference call to discuss his company’s third-quarter results late Tuesday. Aron is a keen user of Twitter and has over 278,000 followers on the platform. Responding to a question about Twitter submitted by an AMC
AMC,
+5.44%
shareholder, Aron declined to weigh in on Elon Musk’s purchase of the social-media platform.

Now read: Twitter reportedly delays blue-checkmark changes until after midterm elections After a monthslong struggle, Musk recently bought Twitter for the inflated price of $44 billion, and he is now attempting to slash costs at the unprofitable company. Last week Twitter laid off about half of its 7,500 employees. “I have no comment really, one way or another, whether he will do a fabulous job or not running Twitter,” Aron said in response to the shareholder’s question. Also read: Elon Musk says Twitter ‘obviously cannot become a free-for-all hellscape’ but should encourage debate However, he was full of praise for the platform itself. “The asset that [Musk] bought, Twitter, is the most incredible communications tool that I have ever seen,” he said, noting that AMC uses the microblogging site to great effect. “We have been able to convey hundreds and hundreds of important messages,” he added.

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