Despite the challenges, Musk's interest in MSNBC seems to stem from his criticism of the channel and a meme shared by Donald Trump Jr. suggesting the channel is up for sale. Musk's wealth is primarily tied up in Tesla and SpaceX stock, making another multi-billion dollar deal difficult. If Musk were to acquire MSNBC, it's unclear what he would do with it, but drastic changes could risk alienating current viewers.
Key takeaways:
- Elon Musk has been hinting at wanting to buy MSNBC, a left-leaning cable channel owned by Comcast’s NBCUniversal, but a Comcast spokesperson has confirmed that none of their assets are for sale.
- Comcast, the cable giant that owns NBCUniversal, announced a major spinoff of its cable channels, including MSNBC, into a new company called “SpinCo”. The spinoff is expected to be completed in about a year.
- Despite Musk's interest, it is unlikely that he could buy the entire new company due to the centralized control in the Roberts family, the expensive cost, and the tax-free structure of the spinoff which prevents large scale M&A for at least two years.
- Musk's interest in MSNBC seems to stem from his criticism of the channel and a meme shared by Donald Trump Jr. suggesting that the channel is up for sale. Musk also has personal issues with Microsoft and its founder, Bill Gates, which may play a role in his interest.