Media tycoon? Bezos considers acquiring CNBC, he already owns The Washington Post
Reports indicate that the CNBC program aligns with Bezos's interests and is expected to serve as a "neutral voice" to complement his media portfolio. Previously, The Washington Post has faced subscriber losses and a wave of employee departures due to its political stance and operational adjustments, with over 300,000 readers canceling their subscriptions before last year's U.S. election
Bezos considers acquiring CNBC, aiming to expand media footprint.
According to media reports, Amazon founder Jeff Bezos is considering acquiring the CNBC financial television network. The world's fourth richest person, with a net worth of $241 billion, has expressed interest in acquiring this financial media outlet to his business partners, with the deal potentially starting after Comcast divests CNBC later this year.
CNBC is known for programs like "Squawk Box" and "Mad Money with Jim Cramer." A source close to Bezos revealed to the media that the programming aligns with Bezos's interests and is expected to serve as a "neutral voice" to complement his media portfolio.
This move comes as Bezos seeks to reshape his media image. Previously, The Washington Post has faced subscriber losses and staff departures due to its political stance and operational adjustments, with over 300,000 readers canceling subscriptions before last year's U.S. elections in protest of the paper's decision to withdraw its endorsement of Harris before the election.
Comcast's divestiture plan faces transaction restrictions
Reportedly, Comcast plans to divest its cable assets, including CNBC and MSNBC, by the end of the year, forming a publicly traded company called Versant with annual revenues of approximately $7 billion.
However, this plan may be hindered by tax restrictions.
Informed sources told the media that Versant cannot sell significant assets like CNBC or the entire company within two years of the divestiture, or it will face substantial tax implications.
Comcast sources confirmed to the media that Bezos has not yet contacted the cable giant led by CEO Brian Roberts. Another source from Versant indicated that the company plans to develop CNBC's business rather than sell it.
The Washington Post's predicament drives media strategy adjustments
In 2013, Bezos acquired The Washington Post for $250 million, but the paper has since faced significant losses and subscriber declines.
Over the past year, Bezos and the paper's CEO Will Lewis have attempted to adjust the paper's stance to a more neutral position, which has sparked strong discontent among staff.
The controversy peaked last November when Bezos decided to withdraw the paper's endorsement of Democratic presidential candidate Harris, leading to a mass exodus of staff and over 300,000 readers canceling subscriptions in protest.
The situation continued to escalate, with Bezos subsequently instructing the paper's opinion section to focus on more neutral topics such as "personal freedom and free markets," rather than political commentary. This directive led to the resignation of opinion editor David Shipley and the departure of senior columnist Ruth Marcus.
This Monday, Pulitzer Prize winner Jonathan Capehart announced his acceptance of a "buyout" departure
