It's not news. It's just how the corporate form was crafted. Twitter Inc was a public company traded as TWTR. You can't "undo" that. So, to take it private, a new company was formed, and that company bought all of the TWTR stock, acquired the assets, and folded Twitter. That company was X Corp. X Corp owns everything of Twitter Inc, including the domain name, the business name (now a d/b/a, Doing Business As name) and all the IP and employee contracts. All of the stock of X Corp is held by a holding company, X Corp Holdings. X Corp Holdings is owned by Elon and various banks and other investors. This allows the governorship if X Corp to clean (it technically has one owner) and protects that investors from some extreme liability because they own X Corp Holdings, not X Corp.