October 29, 2020

Amazon News Network?

  • ChrissyLeigh
  • 105

Amazon is taking over the world: books, e-commerce, groceries, news and now media! Does anyone remember signing away our lives to Amazon?

AT&T is struggling, no doubt about that.

The acquisition of Time Warner in 2018 left the company in tens of billions of dollars in debt, urged AT&T to restructure its operations and shed parts of its empire. While it’s clear the company is trying to make up for the snafu of DirecTV and Time Warner by selling other subsidiaries, like the Crunchyroll deal with Sony, as of now spokespeople claim there has been “zero talk on this”. So if there’s been “zero talk about this” why are there numerous stories breaking with the exact same information, analysts since mid-2020 have said the diversification efforts of AT&T are sinking the ship and to stay afloat they’ll have to sell some assets. With CNN being one of its most valuable assets, why wouldn’t they sell it off? And why couldn’t it be Bezos?

So, is Bezos buying CNN?

With the AT&T ship bleeding from all ends, an approximate 28% drop in share price and talks about thousands of layoffs, something broke and needs fixing. Who better than the $200 billion dollar man himself, Jeff Bezos. Between the Amazon brands and companies that Jeff Bezos himself owns or has invested in; the portfolio includes over 20 different entities. Don’t believe us check it out yourself:

With these acquisitions, Bezos was able to scale empires larger than life. Just think of Zappos, Twitch, Whole Foods, IMDB, the list goes on and on.

What it would mean for CNN and for Bezos?

Though the network is far behind its competitors, MSNBC and Fox News, it is still a profitable entity which makes it attractive to investors. If Bezos were to buy the network, it is understood that he would be placed under further scrutiny by President Trump and the Trump administration, but that’s nothing new. The kid’s been getting heat from Trump because of The Washington Post, if anything I see this as a move from Bezos saying “bring it on”. But fun political banter isn’t the only gain here. Since 2013, with the acquisition of the Post, Jeff Bezos has been in the media game. As he continues to grow is ever-expanding empire, the real question is what does this mean for him and for society?

In my opinion…

Bezos is taking over the world.

He’s literally writing the play book for every bad guy in every movie ever! Could the resources of amazon and their ability to technologically advance any industry help skyrocket CNN to the top? Of course! Could this bail out AT&T from disastrous buyouts in the past? Definitely. Could this also mean an ease of use for users across all of Bezos’ and Amazon’s subsidiaries? 100%. But I’m not sure how I feel about 1 man having control over what I order, how I get it and what’s suggested to me next…

-Chrissy Leigh

105 Comments

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