Billionaire entrepreneur and “Shark Tank” star Mark Cuban said he would be interested in acquiring Rupert Murdoch’s Fox News and Elon Musk’s X, formerly Twitter, but there are certain hurdles involved.
What Happened: In an interview with Wired last week, Cuban expressed his willingness to buy Fox News and X.
“If I had enough money to do it, which I don’t, I’d buy it in a heartbeat,” Cuban said about Fox News.
Cuban sees the purchase of Fox News as a potential answer to what he calls the “Fox News generation,” a group he believes has deviated from their youthful ideals.
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He estimates the cost of acquiring Fox News to be around $15 to $20 billion. “I don't have $15 or $20 billion in cash sitting around,” he stated.
Regarding Musk’s social media platform X, which the tech mogul acquired for $44 billion in October 2022, Cuban voiced skepticism about the feasibility of its acquisition. “He wouldn't sell it.”
When pressed more and asked if he could convince Musk, Cuban said, “I wish I could. There's no reason for him to sell it.”
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Why It Matters: Previously during an "Ask Me Anything" session, Cuban discussed a wide range of topics, including his views on Musk and the changes he made to X. At the time, too, the part-owner of the NBA team Dallas Mavericks was asked if he would buy the platform, to which he promptly asked, “Will Elon sell?”
In August this year, Cuban also spoke about Musk’s vast power and influence, especially through his ownership of X. “Twitter gives him the ability to connect to the prime minister, the head of every country in the world.”
He also contended that this grants Musk an unparalleled level of control. “He literally, wherever his thumb wants to go, he gets to push as hard.”
On the other hand, Fox News has been accused of political bias, perpetuating conservative views, and misleading its audience on important issues like science and the COVID-19 pandemic.
The network was sued for defamation in 2021 by voting machine companies alleging Fox hosts knowingly promoted falsehoods about the 2020 election.
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