Keith Lerner: Here's why this market deserves the benefit of the doubt
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Jeff Bezos Reportedly Eyes Purchase of CNBC as Tech Billionaires Gobble Up Media
Jeff Bezos is thinking about buying the financial news network CNBC, according to a new report from the New York Post, which cites anonymous sources. Given the damage Bezos has already done to the Washington Post, anyone who values the information they get from CNBC should probably be worried. An unnamed source told the New York Post that Bezos buying CNBC would 'align well with his interests,' and it would remain a 'neutral voice.' CNBC is being offloaded by its parent company, Comcast, into a new publicly traded company called Versant by the end of 2025. The company's other cable TV networks, which include MSNBC, SYFY, the Golf Channel, USA Network, and E!, will also join Versant. The Daily Beast reported Wednesday that a source 'close to Bezos' told the news outlet that he's 'not considering a bid to buy CNBC,' but the man himself has not commented on the possibility yet. The Daily Beast denial is also just one line with no further explanation. Sources might insist to the New York Post that Bezos only wants CNBC as a 'neutral voice' in his media portfolio, but anyone who thinks Bezos is above tinkering with the editorial content of his media properties hasn't been paying attention. The 61-year-old Amazon founder purchased the Washington Post in 2013 for $250 million and, by all public accounts, didn't mess with the day-to-day direction of the newspaper. But that all changed shortly before the 2024 presidential election, when the Washington Post editorial board planned to endorse then-Vice President Kamala Harris, the Democratic candidate who was running against current President Donald Trump. Bezos not only spiked the endorsement of Harris but set about purging the writing staff of liberal voices on the opinion pages. Recently, writers like liberal columnist Jonathan Capehart, TikTok guy Dave Jorgenson, and polling expert Philip Bump have left the paper, taking buyouts offered to people who don't want to be involved in the new era of Bezos meddling. Those kinds of changes are any newspaper owner's right, but the shift has set off a wave of anger and outrage among people who see Trump's presidency as a threat to the future of the United States as a liberal democracy. According to NPR, Bezos lost the newspaper about 250,000 subscribers in the span of a week after news broke about the Harris endorsement, and he reportedly lost 75,000 more as the billionaire announced that anyone who didn't adhere to his particular ideology of 'free markets and personal liberties' should leave the storied media institution. Bezos also cozied up to Trump, attending the president's inauguration in January and more recently meeting with the president at the White House last week, according to CNBC. The dude is apparently all-in on the MAGA agenda of competitive oligarchy. Rumors recently circulated that Bezos may be interested in buying Condé Nast, the media company that owns magazines like Vogue and Wired. There was speculation that Bezos might even just carve out Vogue for his new bride, Lauren Sanchez, whom he married last month in Venice, Italy, a wedding that was met by protesters who didn't appreciate his proximity to Trump. At this point, it's rumors and speculation. But sometimes rumors turn into reality. And if Bezos buys CNBC, there's a good chance it could become the latest political instrument of a man worth over $200 billion.
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