Amazon founder and billionaire Jeff Bezos is reportedly exploring the possibility of acquiring financial news oganisation CNBC, according to a report by The New York Post. Bezos acquired The Washington Post in 2013.
Comcast spin-off sparks Bezos’ interest in CNBC
Comcast, the parent company of NBCUniversal, announced last year its decision to spin off a portion of its cable assets into a new publicly traded company named Versant. CNBC, alongside MSNBC, USA Network and E!, will form part of this new entity, with NBCUniversal veteran Mark Lazarus at the helm.
According to sources cited by The New York Post, Bezos is particularly interested in CNBC, with insiders suggesting that the business-focused network “aligns well with his interests.” The cable network, home to popular shows like ‘Squawk Box’ and ‘Mad Money with Jim Cramer’, could offer a much-needed neutral voice in Bezos’ media holdings.
Turbulence in The Washington Post
Bezos’ ownership of The Washington Post has been marred by internal strife, financial losses, and public controversies. The newspaper has suffered layoffs and a significant drop in subscriptions, reportedly over 300,000 cancellations, amid claims of editorial interference and a perceived shift in its political stance.
In recent months, Bezos and Post CEO Will Lewis have attempted to pivot the newspaper’s tone towards a more centrist, pro-capitalist narrative. Sources suggest the interest in CNBC could be part of a larger strategy to rebalance Bezos’ media image, distancing himself from accusations of left-wing bias.
One insider noted that CNBC could serve as a “credible, neutral voice” that complements Bezos’ portfolio, potentially easing the backlash he’s received over editorial decisions at The Post.
Though Bezos has reportedly signalled interest in acquiring CNBC to his business associates, no formal offer has been made to Comcast or Versant. Furthermore, sources have highlighted a two-year restriction period following the spin-off during which Versant cannot sell major assets like CNBC without incurring significant tax consequences.
How much would buying CNBC cost Bezos?
Comcast also does not break out individual financials for CNBC, but it recently stated that Versant’s cable assets brought in roughly $7 billion in revenue last year. Whether Bezos would be willing to invest a substantial sum, likely in the billions, for CNBC remains unclear.
The 61-year-old entrepreneur, currently ranked the fourth richest person in the world with an estimated net worth of $241 billion, has reportedly been active in scouting new media acquisitions. Earlier this year, there were rumours that Bezos might be interested in buying Vogue magazine and its publisher, Condé Nast, partly because of his wife, Lauren Sánchez, a former TV journalist.