E-Paper
‘Buying CNBC could be tricky’: Insider on Jeff Bezos's new interest in cable network
Jeff Bezos is reportedly interested in buying CNBC to add to his media empire, which also includes The Washington Post
Jeff Bezos is reportedly interested in buying CNBC to add to his media empire, which also includes The Washington Post. The New York Post cited sources to report on Wednesday that the Amazon boss has signaled to buyout of the cable network after it is spun off by NBCUniversal parent Comcast later this year.
An insider told the publication that CNBC would ‘align well’ with Bezos's interests and could serve as a credible ‘neutral voice’. The Amazon founder's team is yet to confirm his reported new interest.
Read More: Trump was informed by Pam Bondi's DOJ that his name is in the Epstein files: Report
Meanwhile, Comcast, the media giant behind NBCUniversal, is moving forward with a strategic overhaul, with plans to spin off its underperforming cable assets by the end of 2025. This restructuring will separate a portfolio of struggling networks, including MSNBC, USA Network, and E!, into a new publicly traded entity named Versant.
Comcast sources told The Post that Bezos has not approached Brian Roberts-led CNBC. Another person told the media outlet that Versant does not plan to sell CNBC, but to grow it.
Versant has not issued an official statement about the situation yet.
How much will buying CNBC cost Jeff Bezos?
It is unclear how much Bezos is offering to buy the network. Comcast recently revealed that the soon-to-be Versant generated about $7 billion in revenue last year.
Read More: Who is Robin L Rosenberg? Florida judge denies DOJ's request to unseal Epstein's grand jury files
“Buying CNBC would be tricky. There is a two-year period in which Versant could not engage in selling major assets like CNBC or even the entire company without major tax implications,” a source told The Post.
Jeff Bezos bought the Washington Post from Warren Buffett in 2013 for $250 million. The paper, however, has struggled since. It has recorded year-on-year losses and lost thousands of subscribers.
The billionaire faced severe criticism last year after he killed WaPo's decision to endorse Kamala Harris for president. More than 300,000 readers canceled their subscriptions.
