A Smart Play: Bezos Ponders Financial News Network

Is Jeff Bezos buying CNBC? That is the question making its way around media circles this week after a New York Post article indicated that the Amazon founder is eying the signature financial news network. If true, this would be yet another daring move in realizing Bezos’s strategy of diversifying and balancing his media portfolio.

Bezos owns The Washington Post, which many have described as a left-leaning publication. Acquiring CNBC, a network described as neutral and business-focused, may not only give him meaningful audience reach, but it also shows he is establishing a composite image as a pragmatic media investor. This was demonstrated during the early days of the pandemic when he was able to reach 200 million people using a modest investment to launch a basic livestream.

From The Washington Post to Wall Street TV

Sources with knowledge of Bezos’s thinking described him as feeling that CNBC is a “natural fit” with assets like The Washington Post. The Washington Post has newly gone through a round of staff reductions, cuts to its editorial operations, and the loss of nearly one half of its paid subscribers. CNBC, of course, is a completely different thing, as it is real-time financial reporting, it has influential programming like Squawk Box and Mad Money, and it attracts a loyal audience that is more narrowly focused on investors than on general news consumption.

If Bezos were able to add CNBC to his empire, it would undoubtedly build the public business news media reach of The Washington Post and his other assets, an important and calculated investment decision, while the world and Amazon recognize Bezos’ increasing footprint as a political figure and as a business asset, and his business capital is high.

Is Jeff Bezos Buying CNBC? Timing and Regulators to Think About.

Although his intention appears clear, the deal is definitely not close to happening. Due to Comcast’s tax restrictions for the new public company (Versant) that will assume ownership of the remaining cable networks, CNBC cannot be transferred until at least the second year of Versant (after the cable spin-off) under its corporate shield. If the transfer occurs too soon, anti-spin-off tax liabilities would trigger huge taxes for its stakeholders. So, even though the speculation around “Is Jeff Bezos buying CNBC?” is intensifying, any potential operational change would take patience and precise timing, and Bezos may be trying to place himself in their psyche as they move forward to spin-off their shareholders, ultimately making this his first media deal.

Bezos Also Has an Increasing Appetite for Media

This is not the first time that Bezos has shared prospective interest in a potential media plan. Recent news stories indicate that he was also interested in Vogue or Condé Nast, if I take their word for it, because of his attraction for her wife, Lauren Sanchez, who was formerly a reporter.

Whether the CNBC deal materializes or not, it is clearly apparent that Jeff Bezos’s day are not finished making media advances. While he has a net worth of over $240 billion, he has both capital and curiosity to advance the future of information.

Final Word: Business, Media and Influence

As we won’t find out how the “Is Jeff Bezos buying CNBC?” question finishes, we do know that an opportunity to measure both business and media influence is always with Bezos. Disruptor, investor, storyteller—he knows how to be at the center of the conversation.

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