Latest news with #mediaacquisition
Gizmodo
6 days ago
- Business
- Gizmodo
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.
Forbes
09-07-2025
- Business
- Forbes
Disney, Hearst To Sell A+E: Handicapping Who And What's Next
VOD service screen. Man watching TV with remote control in hand. Disney and Hearst, the 50/50 owners of A+E Global Media, announced yesterday that after sharing control of the company and its networks for most of the last 40 years, they are putting it up for sale. Pardon me if this is beginning to sound a bit too familiar. A major media company – in this case two of them – are planning to sell off a group of cable networks. It's yet another step in the dismantling of cable's yellow brick road. What is the pathway for financial success here? For those cord cutters and cord 'nevers' out there – hello students – A+E is one of the foundational brands of the multichannel universe. The A+E network was launched in 1984 by ABC (purchased by Disney in 1996), Hearst and NBC. It initially picked up the baton from the long-forgotten CBS Cable, a performing arts network, although that focus is hard to see in the rearview mirror. Today it includes a stable of networks such as Lifetime, The History Channel, and Vice TV as well as a host of streamed channels encompassing the content from these networks. Its most recognizable shows include Duck Dynasty, Hoarders, Biography, Storage Wars and The First 48 among many others. A+E has been rumored to be attractive target for other media companies for many years, but its success always kept it independent. Frankly, it just kept sending money back to its owners every year, so why tamper with a good thing? But the payouts in the hundreds of millions of dollars per year - what Disney refers to in its financial reports as 'equity in the income of investees' - peaked in 2023 and are on a glidepath downward. The A+E owners have made their decision to sell, and the question for the market is who is going to buy and what does that look like? There are several scenarios with various degrees of plausibility. The 'Big Media' route: Is there a fit? Each of the major media companies has in some fashion been searching for ways to shed rather than add cable network assets, but they are also creating new entities that might find at least find some cost savings in an A+E purchase. The 'Big Streamers' – Do they need networks? Do all roads lead to private equity?
Yahoo
05-07-2025
- Business
- Yahoo
LVMH Acquires French Media Group Bey Médias
NEWSMAKER: LVMH Moët Hennessy Louis Vuitton is continuing to expand its media footprint with the acquisition of French media group Bey Médias. Financial details of the deal were not disclosed. More from WWD Moynat Opens Avenue Montaigne Boutique Jonathan Anderson's Dior Debut Draws Daniel Craig, Robert Pattinson, TXT and Rihanna Jonathan Anderson on Building His Dior World, One Show at a Time The luxury group was already a minority shareholder of the company, which publishes daily newspaper L'Opinion and financial news website L'Agefi. It has bought the stakes of founder Nicolas Beytout as well as those of other shareholders including Théthys, which is owned by L'Oréal's Bettencourt founding family; American businessman Ken Fisher, and Dow Jones, the group owned by media titan Rupert Murdoch. According to sources with knowledge of the matter, the acquisition was done through the group's Ufipar subsidiary. L'Opinion and L'Agefi will be in an entity distinct from the Les Échos – Le Parisien group. It is understood that the publications' editorial structures and teams would remain in place. Beytout will continue to serve as the media group's president as well as president and publishing director of L'Opinion, with Rémi Godeau remaining as editor in chief. Meanwhile, Alexandre Garabedian is staying as editorial director of L'Agefi. L'Opinion and parent company Bey Médias were created in 2013 by Beytout, former president of Les Echos – purchased by LVMH in 2007 – and former editorial director of Le Figaro. At the time, they received financing from the French luxury group to launch. Known for its liberal and pro-European stance, it has a partnership with Dow Jones-owned Wall Street Journal, allowing it to translate and publish articles drawn from the American publication. In 2019, Bey Médias acquired L'Agefi, a 114-year-old publication then owned by Artémis, the Pinault family's holding company. Last year, the media group entered unsuccessful negotiations with Czech billionaire businessman Daniel Kretinsky. Prior to that, it was in talks with French-Lebanese global transport tycoon Rodolphe Saadé, who owns several media including business news site La Tribune and TV channel BFMTV. LVMH also owns French people magazine Paris Match, acquired in October, and has owned daily newspaper Le Parisien and its national counterpart, Aujourd'hui en France, since 2015. Best of WWD EXCLUSIVE: Sean Combs Regains Control of Sean John Brand Isabel Marant Said in Play Again: Sources Holding Industriale Invests in Shoe Specialist Valmor Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNN
23-05-2025
- Business
- CNN
Private equity firm buys The Telegraph, ending two-year saga
RedBird Capital Partners announced on Friday that it has purchased Telegraph Media Group for £500 million (nearly $675 million), concluding a protracted bid to acquire the news company. The deal makes US-based RedBird the sole controlling owner of The Telegraph, the right-leaning British news outlet founded in 1855. Per the deal, RedBird will invest funds in The Telegraph's digital operations to help continue growing subscriptions and expand the outlet's foothold in the United States, where RedBird already has a constellation of media investments. The deal comes after RedBird struggled for two years to acquire The Telegraph, stymied in large part by a conservative British government that restricted foreign governments from owning newspapers and capped foreign state-owned investment by a publisher at 15%. The UK's Labour Party, which swept into power in July 2024, announced last week that it would relax restrictions on foreign investment. 'This transaction marks the start of a new era for The Telegraph as we look to grow the brand in the UK and internationally, invest in its technology and expand its subscriber base,' RedBird CEO Gerry Cardinale said in a statement. Get Reliable Sources newsletter Sign up here to receive Reliable Sources with Brian Stelter in your inbox. In January 2024, Jeff Zucker, the former CNN president, flew to London to pitch a takeover of the media company to Ofcom on behalf of RedBird IMI, where he is the chief executive. The Telegraph went up for sale in 2023 after Lloyds Banking Group took control of unpaid debts from the Barclay family, which acquired the newspaper in 2004. The Barclay family regained control of the Telegraph in December 2023 with the help of a loan from RedBird IMI, an Abu Dhabi-backed joint venture. However, the British government blocked the transfer of ownership to RedBird. The Friday deal avoided that rule by providing IMI only a minority share in the paper. RedBird's focus on the US market comes as other British media outlets, including the BBC, The Guardian, and The Independent, have expanded their US coverage, often to great success. According to a May report, The Guardian grew its overall revenue by 25% on year, while The Independent in January reported a 75% year-over-year audience increase. RedBird has major investments in media, entertainment, and sports in the UK. In 2024, the firm acquired All3Media, a British film and TV production and distribution company. The company also has a stake in the Premier League soccer club Liverpool and owns AC Milan in Italy's Serie A. RedBird will also acquire the UK's Channel 5 if Paramount Global's merger with Skydance is approved. RedBird has also invested in Ben Affleck and Matt Damon's Artists Equity, LeBron James and Maverick Carter's SpringHill Company, the YES Network, and has helped Skydance finance several productions, including Amazon's 'Reacher' and Paramount's 'Top Gun: Maverick.'
CNN
23-05-2025
- Business
- CNN
Private equity firm buys The Telegraph, ending two-year saga
RedBird Capital Partners announced on Friday that it has purchased Telegraph Media Group for £500 million (nearly $675 million), concluding a protracted bid to acquire the news company. The deal makes US-based RedBird the sole controlling owner of The Telegraph, the right-leaning British news outlet founded in 1855. Per the deal, RedBird will invest funds in The Telegraph's digital operations to help continue growing subscriptions and expand the outlet's foothold in the United States, where RedBird already has a constellation of media investments. The deal comes after RedBird struggled for two years to acquire The Telegraph, stymied in large part by a conservative British government that restricted foreign governments from owning newspapers and capped foreign state-owned investment by a publisher at 15%. The UK's Labour Party, which swept into power in July 2024, announced last week that it would relax restrictions on foreign investment. 'This transaction marks the start of a new era for The Telegraph as we look to grow the brand in the UK and internationally, invest in its technology and expand its subscriber base,' RedBird CEO Gerry Cardinale said in a statement. Get Reliable Sources newsletter Sign up here to receive Reliable Sources with Brian Stelter in your inbox. In January 2024, Jeff Zucker, the former CNN president, flew to London to pitch a takeover of the media company to Ofcom on behalf of RedBird IMI, where he is the chief executive. The Telegraph went up for sale in 2023 after Lloyds Banking Group took control of unpaid debts from the Barclay family, which acquired the newspaper in 2004. The Barclay family regained control of the Telegraph in December 2023 with the help of a loan from RedBird IMI, an Abu Dhabi-backed joint venture. However, the British government blocked the transfer of ownership to RedBird. The Friday deal avoided that rule by providing IMI only a minority share in the paper. RedBird's focus on the US market comes as other British media outlets, including the BBC, The Guardian, and The Independent, have expanded their US coverage, often to great success. According to a May report, The Guardian grew its overall revenue by 25% on year, while The Independent in January reported a 75% year-over-year audience increase. RedBird has major investments in media, entertainment, and sports in the UK. In 2024, the firm acquired All3Media, a British film and TV production and distribution company. The company also has a stake in the Premier League soccer club Liverpool and owns AC Milan in Italy's Serie A. RedBird will also acquire the UK's Channel 5 if Paramount Global's merger with Skydance is approved. RedBird has also invested in Ben Affleck and Matt Damon's Artists Equity, LeBron James and Maverick Carter's SpringHill Company, the YES Network, and has helped Skydance finance several productions, including Amazon's 'Reacher' and Paramount's 'Top Gun: Maverick.'
