Breaking News: Ad Industry Group GARM Disbands Amid Legal Battle with Elon Musk
Lawsuit Proves Financially Straining
The Global Alliance for Responsible Media (GARM), a non-profit organization representing major advertisers, has reportedly disbanded after being sued by Elon Musk's X platform. The lawsuit, filed in June 2024, alleges that GARM has been engaging in anti-competitive practices that have harmed X's business.
GARM Unable to Continue
Sources close to GARM indicate that the organization does not have the financial resources to continue fighting the lawsuit while continuing its operations. The group was heavily reliant on membership dues from its members, and the lawsuit has reportedly caused several companies to withdraw their support.
Impact on Industry
GARM's disbandment is expected to have a significant impact on the advertising industry. The organization was responsible for setting ethical guidelines and promoting responsible advertising practices. Its closure may leave a vacuum in the industry, and it is unclear how other organizations will step in to fill the void.
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