Home/NBA

via Imago

via Imago

0
  Debate

Debate

Can Mark Cuban's $7.66 billion really shake up the media landscape by buying Fox News?

Mark Cuban, who turned a $285 million Mavericks buy in 2000 into a $3.5 billion sale this year, still owns 27% and runs basketball ops. Now, this high-flying billionaire is aiming even bigger, setting his sights on shaking up the media game with Fox News and X.

“If I had enough money to do it, which I don’t, I’d buy it in a heartbeat,” Cuban told Wired about buying Fox News. But even with his multibillion-dollar fortune, Cuban can’t just snag Fox News without some serious financial wrangling. The network’s market cap is about $17.6 billion (Cuban was working with a $15.6 billion estimate), and with a 50% premium, that pushes the price to $22 billion.

Add another $2 billion for changes, and it could be around $15 to $20 billion net. As Cuban put it, “I don’t have $15 or $20 billion in cash sitting around.” Also, buying the social networking platform feels like a far-off dream for Cuban, who doesn’t see any reason for Elon Musk to sell it anytime soon.

ADVERTISEMENT

Article continues below this ad

In the interview, Cuban said, “I wish I could. There’s no reason for him [Musk] to sell it,” as reported by Business Insider. The real question is how Mark Cuban could even think about affording X, given he’s interested in buying it from Elon Musk. With a net worth of $7.66 billion, Cuban’s got a long way to go compared to the $44 billion Musk dropped on X (formerly Twitter).

On top of that, Musk and Cuban haven’t exactly been on the same page before.

Elon Musk and Mark Cuban beef explained

ADVERTISEMENT

Article continues below this ad

Mark Cuban, a frequent X user, hasn’t held back on his critique of the platform since Musk took over. “I know everyone thinks this platform is a bastion of free speech. I see the opposite,” Cuban posted on X. “It’s only as free as Elon wants it to be. He can intimidate. He can alter the algorithm. He can suspend anyone he wants at any time,” Cuban vented.

Things really heated up when Cuban threw shade on Musk on ‘The Daily Show,’ hinting that Musk might be tweaking X’s algorithm to fit his own preferences. Musk clapped back on X, saying, “That was hilarious. Unlike other platforms, our algorithm is open source! And if you interact and argue with ‘right wing’ accounts, which Cuban does a lot, the algorithm will assume that’s what you want to do and give you more of it lmao.” Musk didn’t stop there; he upped the ante by calling Cuban a “giant 💩 in human form” on X.

What’s your perspective on:

Can Mark Cuban's $7.66 billion really shake up the media landscape by buying Fox News?

Have an interesting take?

ADVERTISEMENT

Article continues below this ad

But Cuban didn’t sweat Musk’s jab too much. Back in June, he told Business Insider that he’s got no beef with Musk despite their back-and-forths and actually enjoys the banter. “I have fun sparring with Elon. He likes to troll and so do I,” Cuban said.

“He who controls the algorithm controls the platform—controls that world, that community. And Elon has built, X has built, a very strong right-leaning community. They’re fun to fu*k with,” Cuban said in his interview with Wired. What are your thoughts on this? Let us know in the comments.