Business
Twitter-Musk Takeover Dispute Heading for an October Trial
Tesla CEO Elon Musk lost his fight to delay Twitter’s lawsuit against him as a Delaware judge on Tuesday set an October trial, citing the “cloud of uncertainty” over the social media company after the billionaire backed out of a deal to buy it.
“Delay threatens irreparable harm,” said Chancellor Kathaleen St. Jude McCormick, the head judge of Delaware’s Court of Chancery, which handles many high-profile business disputes. “The longer the delay, the greater the risk.”
Twitter had asked for an expedited trial in September, while Musk’s team called for waiting until early next year because of the complexity of the case. McCormick said Musk’s team underestimated the Delaware court’s ability to “quickly process complex litigation.”
Twitter is trying to force the billionaire to make good on his April promise to buy the social media giant for $44 billion — and the company wants it to happen quickly because it says the ongoing dispute is harming its business.
Musk, the world’s richest man, pledged to pay $54.20 a share for Twitter, but informed the company in July that he wants to back out of the agreement.
“It’s attempted sabotage. He’s doing his best to run Twitter down,” said attorney William Savitt, representing Twitter before McCormick on Tuesday. The hearing was held virtually after McCormick said she tested positive for COVID-19.
Musk has claimed the company has failed to provide adequate information about the number of fake, or “spam bot,” Twitter accounts, and that it has breached its obligations under the deal by firing top managers and laying off a significant number of employees. Musk’s team expects more information about the bot numbers to be revealed in the trial court discovery process, when both sides must hand over evidence.
Twitter argues that Musk’s reasons for backing out are just a cover for buyer’s remorse after agreeing to pay 38% above Twitter’s stock price shortly before the stock market stumbled and shares of the electric-car maker Tesla, where most of Musk’s personal wealth resides, lost more than $100 billion of their value.
Savitt said the contested merger agreement and Musk’s tweets disparaging the company were inflicting harm on the business and questioned Musk’s request for a delayed trial, asking “whether the real plan is to run out the clock.”
“He’s banking on wriggling out of the deal he signed,” Savitt said.
But the idea the Tesla CEO is trying to damage Twitter is “preposterous. He has no interest in damaging the company,” said Musk attorney Andrew Rossman, noting he is Twitter’s second largest shareholder with a “far larger stake” than the company’s entire board of directors.
Savitt emphasized the importance of an expedited trial starting in September for Twitter to be able to make important business decisions affecting everything from employee retention to relationships with suppliers and customers.
Rossman said more time is needed because it is “one of the largest take-private deals in history” involving a “company that has a massive amount of data that has to be analyzed. Billions of actions on their platform have to be analyzed.”
Tobias said it’s still possible that Musk and Twitter will settle the case before it goes to trial, since both might find a drawn-out fight or the judge’s final decisions costly to their businesses and reputations. One option is that Musk could pay the $1 billion breakup fee both he and Twitter agreed to if either was deemed responsible for the deal falling through. Or Twitter could push for him to pay more to make up for damages – just not the full $44 billion acquisition.
“Does Musk really want to run that company? Do they really want Musk to run that company?” Tobias said. “They could always settle somewhere in between.”
Business
Getty Images files for Chapter 11. What comes next for Florida photographers and videographers?
Getty expects licensing and contributor payments to continue as it seeks court approval for a restructuring. The case comes as AI puts pressure on generic stock imagery and verified coverage remains valuable to newsrooms.
Florida National News | Nov. 9, 2026
Getty Images is asking a federal bankruptcy court to approve a restructuring that would cut its debt and take the company private while it continues licensing photographs and video. For Florida photographers and videographers who sell work through Getty, the immediate question is whether royalties and assignment payments keep arriving on schedule. The longer-term question is which images and footage buyers will still pay to license as generative artificial intelligence makes some stock visuals easier to produce.
Getty Images Holdings Inc. and six subsidiaries filed for Chapter 11 protection Oct. 21 in Delaware. The company entered the case with support from major financial stakeholders and says it expects to continue serving customers and paying contributors in the ordinary course. The court is scheduled to hear several initial motions Nov. 17 and consider confirmation of the restructuring plan Dec. 15. Getty Images Chapter 11 filing and financing disclosure · Bankruptcy docket and Nov. 17 hearing notice · BankruptcyData on the Dec. 15 confirmation hearing
What drove Getty into bankruptcy?
The proposed plan includes up to $533 million in equity commitments from Getty family and Koch Equity Development affiliates. That amount includes financing and conversion of some existing debt into equity. The plan would cancel existing shares and put the reorganized company under the ownership of those investors. Getty Images restructuring agreement
Getty reported $2.1 billion in debt at the end of June. Its second-quarter results also showed $110.9 million in payments related to a warrant litigation judgment and interest, as well as higher interest costs tied in part to financing for the proposed Shutterstock acquisition. Getty abandoned that deal in July after Britain’s competition regulator conditioned clearance on the sale of Shutterstock’s editorial business. Getty Images second-quarter results · U.K. Competition and Markets Authority on the abandoned merger
Getty’s results show why the bankruptcy matters differently across the industry. Second-quarter creative revenue fell 2.6% from a year earlier to $127.4 million, while editorial revenue rose 9.2% to $96.5 million. The company did not quantify how much of the creative decline was attributable to AI. Getty Images second-quarter results
What Florida contributors should watch
Getty says it expects to maintain normal operations through the restructuring. For freelancers, the next royalty statement and deposit will give them a more direct view of whether the process is affecting their income. A contributor who licenses archive photos, a freelance crew that invoices for assignments and a production company that supplies footage may each have different payment terms. Getty Images restructuring announcement
Contributors can reconcile deposits against statements and keep copies of agreements, invoices and notices. An overdue balance or a notice naming a specific contract warrants a closer look at the applicable court documents and deadlines. After the case, the terms that could affect earnings include royalty rates, exclusivity, subscription payouts and how a distributor packages photos and video.
An AI-generated illustration for Florida National News’ coverage of Getty Images’ Chapter 11 restructuring and competition from generative AI.
Which Florida assignments are most exposed to AI?
Generic office scenes, beach-themed backgrounds and short lifestyle clips face more direct competition from generative tools. A buyer who needs a mood or setting can generate several options without scheduling a shoot. A buyer who needs footage of a specific launch from Florida’s Space Coast, storm damage in a particular neighborhood or a decisive play at a Tampa Bay Buccaneers game still needs a verifiable record of that event.
Florida’s news, sports and entertainment calendar gives local crews opportunities to supply that record. A videographer covering a major convention in Orlando might have an interview or clean footage that a national outlet missed. A photographer covering a local election might have the only usable image of a concession speech. For archive sales, accurate dates, locations, names and captions help buyers find the material and establish what it shows. Event credentials, assignment agreements and existing licenses can limit which uses a contributor can offer.
Getty is also selling generative AI tools. The company says its image generator is trained on licensed creative content and proprietary data and that licenses carry indemnification under the applicable agreement. That gives Getty a way to sell generated visuals to commercial buyers while continuing to license photographs and footage of real events. Getty Images generative AI terms and training FAQ
Where AP and Reuters fit
The Associated Press and Reuters overlap most directly with Getty in editorial coverage. Both can serve publishers that want additional sources of news photographs and video. Reuters Connect also offers live video and individual picture licensing. AP says its standards prohibit the use of generative AI to create, alter or enhance news photography. Associated Press AI standards · Reuters Connect licensing
AP and Reuters could gain business if publishers add a second supplier or Getty changes its prices, packages or service. Getty’s plan also leaves open a different outcome. If the company emerges with less debt and can invest more in editorial coverage, the two agencies could face a stronger competitor.
What comes next
The December hearing will determine whether Getty can move forward with the proposed plan, subject to the court’s ruling and remaining conditions. Getty has said it expects to complete the restructuring by year-end. For Florida contributors, the near-term measures are whether payments arrive, assignments continue and licensing terms change. The longer-term test is whether distributors and newsrooms will pay enough for distinctive, verified Florida coverage to sustain the people who produce it. Getty Images restructuring announcement · BankruptcyData on the Dec. 15 confirmation hearing
Business
New AdventHealth Middleton Clinic Brings Pediatric Specialists, Urogynecology Near The Villages
Terminal upgrades, parking projects and international connections mark the authority’s fiscal year review.
ORLANDO, Fla. (FNN) — The Greater Orlando Aviation Authority highlighted terminal improvements, expanded international connections and parking projects during its fiscal 2026 review, while its board adopted changes to a local business program and announced a new statewide small business initiative.
The updates affect Orlando International Airport and Orlando Executive Airport, which GOAA operates.
“We are undertaking an ambitious effort to redefine what it means to deliver a world-class airport experience,” GOAA CEO Lance Lyttle said in the authority’s announcement.
“As we welcome more visitors, more airlines, more routes, and new programs, our responsibility is to elevate every part of the journey — making it more welcoming, intuitive, and connected.”
A Gate Link train travels along an elevated guideway at Orlando International Airport, with the airport’s control tower in the background. Photo courtesy of the Greater Orlando Aviation Authority.
Terminal Improvements Focus on Connections and Families
Among the completed projects was an enclosed pedestrian bridge with moving walkways connecting Orlando International Airport’s train station and Terminal C.
Terminal C also opened a new wing serving gates 250–254, providing additional capacity and becoming the new home for Virgin Atlantic’s airport operations.
Three new Family Zones — one in each terminal — offer spaces for children and families to play, read and recharge. GOAA also highlighted improvements to directional signs along airport roads, in parking areas and throughout the terminals.
Parking Expansion and $40 Million Improvement Program
GOAA reported progress on a parking guidance system at Terminal C, with phased activation across all garages planned through mid-2027.
Dedicated employee parking areas are intended to free additional spaces for travelers. Planning is also underway for two new garages expected to add 8,000 public parking spaces over the next few years.
Separately, the authority’s $40 million Beautiful Airports Program targets safety, functionality and appearance across garages, terminals and other airport areas.
Aviation Investments and International Service
The fiscal year review highlighted a $50 million investment by dnata, a $26 million redevelopment by Signature Aviation at Orlando International Airport and groundbreaking for Sky Harbour’s $40 million campus at Orlando Executive Airport.
International service developments included ZIPAIR’s nonstop passenger charter flights between Orlando and Tokyo and Iberia’s launch of nonstop service to Madrid.
GOAA described ZIPAIR’s service as the first passenger charter connection between Florida and the Asia-Pacific region.
Business Policy Changes Broaden Eligibility
The board adopted revisions to GOAA’s Local Developing Business program following research, town halls and discussions with internal experts.
The changes increase the allowable personal net worth threshold and clarify how assets are excluded from that calculation, including primary residence equity, business equity, retirement assets and certain nonliquid holdings.
Business size standards were also revised to account for inflation and increased operating costs. The announcement did not specify the updated financial thresholds.
A new Small Business program will complement the local program and extend eligibility to qualifying businesses throughout Florida. Under the announced framework, participating businesses must fall within 50% of the applicable U.S. Small Business Administration size standard.
GOAA said detailed guidelines for both programs would be posted on its website. Those guidelines will provide businesses with the information needed to assess eligibility.
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