Musk expresses interest in acquiring MSNBC amid Comcast restructuring

By Al Mayadeen English
Source: News websites
23 Nov 2024 18:40

On Wednesday, Comcast announced plans to consolidate MSNBC, USA Network, CNBC, and other properties into a new holding company called SpinCo.

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Elon Musk watches before President-elect Donald Trump speaks during an America First Policy Institute gala at his Mar-a-Lago estate, Thursday, Nov. 14, 2024, in Palm Beach, Florida. (AP)

Elon Musk, billionaire entrepreneur and owner of X (formerly Twitter), has hinted at the possibility of acquiring MSNBC, sparking speculation about a dramatic shake-up for the left-leaning news network.

This follows reports that Comcast, MSNBC's parent company, is restructuring several media assets due to declining ratings.

On Wednesday, Comcast announced plans to consolidate MSNBC, USA Network, CNBC, and other properties into a new holding company called SpinCo.

While Comcast described the move as a positive step, portraying SpinCo as "well-capitalized" and "attractive to investors," insiders have expressed uncertainty.

According to the New York Post, MSNBC staff are reportedly in "panic," with rumors of potential changes to the network's name, logo, and headquarters adding to the unease.

Falling Ratings Spur Speculation

MSNBC has faced significant viewership declines, with Nielsen data showing a 38% drop in daily viewers after Donald Trump's victory over Kamala Harris in the presidential election.

CNN has also experienced a downturn, with a 27% decline in viewership compared to pre-election numbers.

Amid the turmoil, Donald Trump Jr. stoked speculation by tagging Musk on X with a mock image of the MSNBC logo and the caption "For Sale, Best Offer."

Musk responded, asking, "How much does it cost?" While no formal discussions about an acquisition have been confirmed, Musk's response has drawn attention, given his penchant for high-profile business moves, such as his $44 billion purchase of X in 2022.

How much does it cost?
— Elon Musk (@elonmusk) November 22, 2024

A Musk-Led MSNBC?

Podcaster and Trump ally Joe Rogan joined the conversation, jokingly offering to replace MSNBC anchor Rachel Maddow if Musk takes over the network. "I will wear the same outfit and glasses, and I will tell the same lies," Rogan quipped, to which Musk replied, "Deal."

The potential valuation of MSNBC remains unclear, but Comcast's market capitalization is $166 billion. With Musk's estimated net worth of $314 billion, the prospect of such an acquisition is financially feasible, adding credibility to the speculation.