AT&T is reportedly $150 billion in debt
“CNN does not have Donald Trump to kick around anymore and their ratings will take a hit,” he told “Tucker Carlson Tonight,” given the current projected presidential election results.
He reports that AT&T is “financially unstable” with $150 billion in debt.
“They need to cut costs. There’s an active investor out there,” Gasparino said.
Despite the low odds of any deal in the immediate future, a sale of CNN to billionaire Jeff Bezos would make sense from both sides, media investment bankers tell FOX Business.
“I’m not a CNN hater. They have a lot of good journalists there,” Gasparino said.
“This rumor is real,” he said. “AT&T is a screwed up company and … CNN like a lot of media companies, it may have hit its peak, hating Trump.”
The world’s richest man Jeff Bezos could add CNN to his portfolio
Speculations are rife that the controversial chief executive of Amazon.com and owner of the Washington Post, Jeff Bezos, is sniffing around on a potential purchase of one of AT&T’s most valued assets, the Cable News Network.
But a person close to Bezos says as of now there is no real interest. “There has been zero talk on this,” according to the source.
But people who follow AT&T’s 2016 purchase (the deal wasn’t completed until 2018) of TimeWarner — which married a massive content distribution company with premium content — say CNN is clearly an asset that could be shed in the months ahead, and that a deep-pocketed buyer like Bezos, with an in media, could be a suitor.
The $85 billion purchase of TimeWarner, left AT&T with tens of billions of dollars in debt, a desperate array of difficult to digest assets and some weird cultural fits. As a result, AT&T has been forced to reorganize its operations and shed parts of its empire. Its shares have fallen over 31% this year, more than rival Verizon’s 6.5% drop and the S&P 500’s 5% gain