Elon Musk plans to change the BBC's Twitter label of "government-funded media".
The broadcaster recently objected to the label, and Musk has now promised to change the description, insisting that he has the "utmost respect" for the organisation.
Musk, 51 - who acquired Twitter for $44 billion in 2022 - told the BBC: "We want [the tag] as truthful and accurate as possible. We’re adjusting the label to [the BBC being] publicly funded, which I think is perhaps not too objectionable."
The Tesla CEO also admitted to making other mistakes since he bought the micro-blogging platform.
Speaking about the overall health of the company, Musk shared: "I feel like we’re headed to a good place. We’re roughly break-even, I think we’re trending towards being cashflow positive very soon, literally in a matter of months. The advertisers are returning."
Earlier this month, the BBC contacted the social media giant over its description of its official Twitter account.
The BBC asked for the issue to be resolved "as soon as possible".
The broadcaster said: "The BBC is, and always has been, independent. We are funded by the British public through the licence fee."
The BBC issued the statement shortly after the broadcaster resolved a high-profile row with Gary Lineker over his social media comments.
The former England soccer star returned to his presenting duties following a disagreement with the broadcaster over impartiality, after he tweeted criticism of Prime Minister Rishi Sunak's policy on refugees.
Gary, 62, was initially stood down from hosting 'Match of the Day', which prompted a mass walk-out of BBC pundits and presenters.
BBC director-general Tim Davie subsequently issued an apology and confirmed that an independent review had been launched to examine the corporation's guidelines around social media use.
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