Business

Amazon CEO Jeff Bezos Considers Purchasing CNN: Bankers

Jeff Bezos CNN

Amazon CEO Jeff Bezos spoke to the media about the company’s sustainability efforts on 19 Sept 2019 in Washington, DC.

The world’s richest man is ostensibly considering to purchase news network CNN. An individual close to Mr. Bezos told the outlet that there have been zero talks about it.

CNN is potentially an asset that AT&T plans to sell. Following its $85bn acquisition of TimeWarner in 2016, AT&T was tens of billions of dollars in debt.

Technology analyst Rich Greenfield told Fox Business that the possible sale was not shocking and he was a little surprised to know that CNN would be the only asset to be sold given they have a much stronger digital platform than the rest of Turner’s properties.

Greenfield also talked about Mr. Bezos buying the news giant. In a catalog of top potential buyers of the network, he included Mr. Bezos, as well as CBS News through Viacom and NBC News through Comcast.

Greenfield said that selling off CNN would be a sensible decision if it was part of a larger sale of all of AT&T’s Turner Broadcasting entities, which includes TNT, TBS, truTV, Cartoon Network, and Turner Classic Movies.

Mr. Bezos would likely face pushback from Donald Trump if he were to make a play to purchase CNN. Senator Josh Hawley, a Republican, retweeted a reporter breaking the news of the potential purchase, and very plainly expressed his opposition to Mr. Bezos purchasing CNN. Watch this space for the latest business news!

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