A PYMNTS Company

Republican FCC Official Says Musk’s Twitter Buy Good For Competition

 |  May 3, 2022

A top Federal Communications Commission (FCC) official says antitrust regulators should “welcome” Elon Musk’s proposed $44 billion acquisition of Twitter.

“If Mr Musk follows through on his stated intention to ease Twitter’s restrictions on speech, he would almost certainly enhance competition and better serve those Americans, the majority, who value free speech,” Nathan Simington, a Republican FCC commissioner, said in a statement Monday.

Simington said, without providing details, that the FCC had been called upon by some to block Musk’s takeover, which has yet to receive shareholder and regulatory approval.

Simington wrote: “The FCC cannot, and should not, block this sale. But even if this deal were within our purview, it would be inappropriate and contrary to the public interest to block it.”

He continued: “Mr Musk’s acquisition does not raise any concerns about vertical or horizontal concentration in the social media market, and there is no reason to think it would otherwise limit competition or harm consumer welfare.”

Simington joins a chorus of Republicans who see Musk’s takeover as a way to combat perceived anti-conservative bias on social-media platforms.