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Stellantis pauses paid ads on Twitter after Musk takes over

Published 11/07/2022, 05:29 PM
Updated 11/07/2022, 07:02 PM
© Reuters. FILE PHOTO: The logo of Stellantis is seen on a company's building in Velizy-Villacoublay near Paris, France, February 1, 2022. REUTERS/Gonzalo Fuentes

By Ben Klayman and David Shepardson

DETROIT/WASHINGTON (Reuters) -Stellantis said on Monday it is pausing all paid advertising posts on Twitter as it waits to see what the platform will look like under the leadership of its new owner Elon Musk.

“We're pausing paid advertising posts until we have a clearer understanding of the future of the platform under its new leadership," the automaker said of Twitter in a statement to Reuters. Stellantis was created from the merger of Fiat Chrysler and Peugeot (OTC:PUGOY) maker PSA.

Musk has said Twitter has suffered a "massive" revenue drop since he took over 10 days ago.

Twitter did not immediately respond to a request for comment.

© Reuters. FILE PHOTO: The logo of Stellantis is seen on a company's building in Velizy-Villacoublay near Paris, France, February 1, 2022. REUTERS/Gonzalo Fuentes

Stellantis joins a number of major companies that have halted advertising on Twitter, including United Airlines, General Mills Inc (NYSE:GIS) luxury automaker Audi of America and General Motors Co (NYSE:GM).

Gilead Sciences Inc (NASDAQ:GILD) said earlier on Monday the company and its unit Kite were in the "process of pausing advertising" on Twitter.

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