Jeff Bezos has been weighing a possible acquisition of CNBC: sources

New York Post

6 days ago

Amazon billionaire Jeff Bezos has been weighing a possible acquisition of CNBC, The Post has learned.
The 61-year-old e-commerce magnate has signaled interest to business associates in buying the cable network — home to 'Squawk Box' and 'Mad Money with Jim Cramer' — after it is spun off by NBCUniversal parent Comcast later this year, according to a person familiar with Bezos' thinking.
CNBC would 'align well with his interests,' said another source close to Bezos, who noted that the network could serve as a credible 'neutral voice' in his media portfolio — a major plus following Bezos's headaches as owner of the left-leaning Washington Post.
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5 Jeff Bezos is interested in buying CNBC after it is spun off from Comcast and is part of the publicly-traded Versant, sources said.
Getty Images for The New York Times
The Amazon founder has weathered months of headline-grabbing chaos at the iconic newspaper, which has been mired in losses, layoffs and staff protests over his moves to shift the paper's coverage in a more centrist, pro-capitalist direction.
A rep for Bezos declined to comment.
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Comcast, meanwhile, plans to spin off its struggling cable assets — which also include MSNBC, USA Network and E! — by the end of the year. CNBC will become part of a publicly-traded company called Versant, which will be run by a handful of NBCUniversal execs led by Chief Executive Mark Lazarus.
Sources close to Comcast told The Post that Bezos has not approached the cable giant headed by CEO Brian Roberts.
Another source close the situation said Versant plans to grow CNBC, not sell it.
5 CNBC is known for business programs such as 'Sqwak Box' co-hosted by Andrew Ross Sorken (L), Becky Quick (center) and Joe Kernen (right).
Stefanie Smith/CNBC
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Versant declined to comment.
It is unclear how much Bezos — currently ranked as the fourth richest person in the world with a net worth of $241 billion, according to Forbes — would be willing to pony up for CNBC.
Comcast does not break out financials for its cable assets but recently said the soon-to-be spun-off Versant generated about $7 billion in revenue last year.
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, sources told The Post.
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5 Jeff Bezos and his wife Lauren Sanchez were seen relaxing at Club 55 on Pampelonne Beach in Saint‑Tropez.
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A source close to the situation said the company won't likely jeopardize the tax-free nature of the spinoff.
Late last year, Comcast announced it would hive off its cable assets and keep NBCUniversal's NBC broadcast TV network, 'Real Housewives' home Bravo, its film and TV studios and theme parks, as well streaming service Peacock.
Bezos bought the Washington Post from Warren Buffett in 2013 for $250 million, but the paper since has been dogged by steep losses as subscribers have fled.
5 Lauren Sanchez and Jeff Bezos leaving Le Club 55 in Saint Tropez.
Spread Pictures / MEGA
The Amazon founder has been vacationing with his new bride Lauren Sanchez in the South of France. They were spotted Tuesday leaving glitzy beach club Le Club 55, not far from where the mogul's mega-yacht, Koru, dropped anchor.
Bezos' desire to expand his media empire follows a flurry of headlines in recent weeks that he was interested in buying Vogue magazine for Sanchez, a former TV reporter — or even the fashion glossy's parent company Condé Nast.
Over the past year, Bezos and Washington Post CEO Will Lewis have tried to move the Beltway broadsheet more to the center — to the dismay of staffers.
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5 Bezos' changes at The Washington Post have sparked anger from staffers and readers alike. More than 300,000 readers have canceled their subscriptions to the left-leaning paper last year.
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Bezos' decision to kill the newspaper's endorsement of Kamala Harris for president shortly before the election in November sparked a revolving door of high-profile departures. More than 300,000 readers canceled their subscriptions.
The uproar continued after Bezos ordered the outlet's opinion section to focus on 'personal liberties and free markets' — a more neutral topic — rather than weighing in on politics and other issues.
The directive led to the resignation of Opinion Editor David Shipley, followed by the departure of longtime columnist Ruth Marcus. On Monday, Pulitzer Prize-winning opinion writer Jonathan Capehart announced he accepted a buyout.