Mark Cuban, the billionaire entrepreneur and owner of the Dallas Mavericks, has recently expressed interest in acquiring X, formerly known as Twitter, and Fox News. This potential acquisition raises significant questions regarding media ownership and the implications for public discourse. Cuban's involvement in both platforms could lead to a transformative shift in how news is disseminated and consumed by the public. His reputation as a progressive thinker may influence editorial decisions that prioritize transparency and accountability.
Cuban said that ideally he would “for sure” consider buying X, the popular social media app formerly known as Twitter.
“I wish I could. There’s no reason for him to sell it,” Cuban said.
Elon Musk, the fellow billionaire who bought and renamed the app in 2022. Musk said in March 2023 that the app is now valued at $20 billion after he bought it for $44 million.
After discussing how the "Boomer" generation began with so much potential ("Sex, drugs, and rock and roll was a great start. And protesting the Vietnam War") before becoming the "Fox News generation," Cuban stated that the only way to fix that would be to buy FOX "News" – if someone had enough money. "If I had enough money to do it, which I don't, I'd buy it in a heartbeat," Cuban said before offering a breakdown of what the cost would be to be able to purge FOX "News" so that it could become Fox News.
Noting that there would be the matter of Rupert Murdoch and his heirs to deal with right from the start, the market cap of the alleged "news network" at the time of the interview was $15.6 billion. "And you've got to pay at least 50 percent premium. So now it's $22 billion. And then you've got to make all the changes, so that's another $2 billion. You can sell some things off. So maybe it's $15 billion, $20 billion net. I don't have $15 or $20 billion in cash sitting around," Cuban added.
Cuban has often criticised Musk for the various new changes the latter made to X after its acquisition including changing the platform’s name. Musk acquired X in October 2022 and changed its name in July 2023. The SpaceX founder did not remain quiet and often answered back by hurling insults at Cuban. However, in June 2022, the 66-year-old told Business Insider that it was “fun sparring with Elon.” He told Goode, “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."
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