(Note: This was written prior to the Election. A/W)
Good day all. It’s no secret that CNN is considered a complete joke as a news provider. These days it’s all about fake news, Progressive Liberal Propaganda, insults to anyone who doesn’t toe the progressive line, and paying out massive settlements to high school students they libel.
The original name for CNN was the Cable News Network, founded by Ted Turner in 1980. CNN made it’s bones, as it were, by being in Baghdad when the First Gulf War started and sending out live broadcasts as air raids and missile strikes happened. Eventually, Turner sold the operation to Time Warner, and eventually left the company.
It was during this phase that the Bill Clinton took office, and Felonia von Pantsuit began her reign of error as first lady. CNN ignored most of the corruption, and soon became known as the “Clinton News Network.
Since then, CNN has only gotten worse. With the election of President Trump in 2016, CNN went completely off the rails and their viewership has plummeted as a result. It’s come out that the the current President of CNN, Jeff Zucker, has shut down any stories that would show President Trump in a positive light. The next big fiasco was the blatant libel of Covington High school student, Nick Sandmann.
As a refresher, Nick Sandmann and other students were visiting Washington D.C. on a school field trip. Mr. Sandman picked up a MAGA hat somewhere, which drew the attention of a pack of left wing hyenas who proceeded to harass Mr. Sandman and the others. A video was releases purporting to show that Sandmann and the others were the instigators of the confrontation, and the MSM, including CNN, accused Nick Sandmann and the others of being white supremacists and white nationalists.
Then the full recording came out and showed a somewhat different story. The Covington students were not the instigators, the pack of left wing hyenas were. It then came out that CNN as well as a number of other “News” services had the full video and selectively edited it. Sandmann sued CNN for $275 million dollars. Since the evidence was so overwhelming that CNN was in the wrong, they settled the suit rather then go to trial.
because of this and other disasters, CNN is hemorrhaging money. There have been rumors of CNN being put on the market by AT&T, (The current owners), but nothing has come of it. However, there is a rumor that Jeff Bezos, the founder of Amazon.com is looking to buy CNN. Here are the details from Fox Business:
The investment banking world is buzzing 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, bankers tell FOX Business.
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.
Frankly, it would surprise me that Bezos would buy CNN. For one thing, his other news media venture, The Washington Compost, was also sued by Nick Sandmann and also has settled out of court. I would think he would be in full “Once burned, twice shy” mode.
FOX Business has not been able to confirm whether Bezos has had even informal talks on the deal or whether the speculation is simply a product of investment banker chatter which is often a catalyst for deal making even before talks commence. That holds especially true when deal making speculation swirls about someone of Bezos’s caliber — the world’s richest man with a net worth of $200 billion per Forbes.
I think the reason Fox Business is giving any credence to these rumors is that Bezos has more money then sense and likes to basically, set it on fire.
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.
On what planet do they see that? These days, CNN is considered to be nothing more then a part of the Progressive Liberal Democrat Propaganda network. Reporting news to people? That hasn’t happened in years. Besides, AT&T really got taken to the cleaners over the their purchase of this joke of a network.
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.
Fox Business reports that many analysts think that unwinding CNN from all the other Turner properties they acquired won’t happen. They claim that the “Synergies” from all the assets would be very difficult to unwind. Others aren’t all that sure about this.
Others aren’t so sure. They note AT&T’s more establishment management led by CEO John Stankey and Chairman Randall Stephenson initially considered CNN a key element of the TimeWarner deal to be integrated in AT&T. But both have grown less comfortable with CNN’s hot button, left-leaning political commentary than they are with the more benign programming of Turner Broadcasting.
No one at AT&T has a problem with Turner Classic movies but they are worried CNN angers so many Republicans in Washington,” says one banker who has heard Bezos is interested in CNN.
Anger is a big understatement. Flat our fury at the lies and outright anti-American propaganda put out by CNN have many wondering if the Federal elections Commission shouldn’t look at them for providing an “In Kind” political contribution to the Democrats. That can be laid at the feet of the president of CNN, Jeff Zucker.
Another factor in the banker-chatter of a CNN spinoff: The uncertain future of current CNN President Jeff Zucker. The network’s controversial news chief has been the focal point of criticism from President Trump for anti-Republican bias. People close to Zucker say there is no final decision on whether he will remain with the network, and any decision could come sometime after next week’s presidential election.
That sounds an awful lot like “He is currently negotiating his exit package.” to me. In any case, this is all just rumors right now, possibly even some wishful thinking. I do think there has been a good deal of “Buyers Remorse” on the part of AT&T. They bought the satellite TV system, DirecTV a few years back and thanks to flat out mismanagement, have been hemorrhaging subscribers. (Including me) Whatever happens in the next year or two, I think it’s going to be interesting, much in the way a train wreck is interesting as it happens.
Thatisall
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