Jeff Bezos No Longer Interested In Buying CNN As AT&T Reportedly Looks To Dump Network

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by Tyler Durden
Tuesday, Nov 10, 2020 - 07:05 PM

Apparently, Jeff Bezos, the Amazon CEO and world's wealthiest man, has either abandoned his ambitions to build a true media empire, or perhaps doesn't think CNN is worth anything close to what AT&T is trying to sell it for.

Late last month, there were reports that AT&T was quietly shopping around for a buyer for CNN - the sensationalist, left-leaning "news" network which came with the furniture during its merger with Time Warner - and had stumbled on Jeff Bezos as a potentially interested party.

Now, Charlie Gasparino, the Fox Business reporter who broke the original story about AT&T considering Bezos as a potential buyer, has just minutes ago reported that while "the talk" inside the company is that AT&T is definitely looking to sell CNN to help pay down the debt from the Time Warner deal, there are some doubts about whether a buyer with deep enough pockets could be found - since Bezos is apparently uninterested (at least, for now).

Gasparino also reported that some have doubts about whether the network can even be separated from the rest of Time Warner.

Of course, if AT&T does end up getting saddled with CNN, whose ratings, and by extension, revenue, will almost certainly sag as soon as President Trump leaves the White House (assuming that he does end up leaving in January), Mark Spiegel has an idea for how new management might clean house and rebuild CNN into a news product with more broad appeal.

Or here's a thought: Maybe President Trump could buy the network, gut it, and re-brand the carcass as the Trump News Network...he could even raise money for the endeavor by firing the entire staff person by person during a 24-hour telethon.

Just a suggestion.