Mark Cuban Expresses Interest in Buying Fox News and X
The Dallas Mavericks minority owner admitted he would acquire the conservative network "in a heartbeat."
Mark Cuban admits he would buy Fox News "in a heartbeat."
Cuban tells WIRED senior writer Lauren Goode that he does not have enough money to acquire the network from Fox Corporation.
"If I had enough money to do it, which I don’t, I’d buy it in a heartbeat," he said when asked about the legacy news company.
With Fox’s current market value at $15.6 billion, the Dallas Mavericks minority owner explained how that figure is merely the starting point in determining the overall financial commitment.
"And you've got to pay at least 50 percent premium. So now it's $22 billion," Cuban said. "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."
When asked if he would buy X, the platform formerly known as Twitter, Cuban said he wishes he could but "there’s no reason" for Elon Musk to make that deal and that he "wouldn’t sell it."
Aside from his desire to hold onto X, Musk has gone back and forth with Cuban on several occasions.
Musk most recently fired back at Cuban's accusation in a Daily Show interview last month that the X owner is manipulating algorithms on the platform in order to push certain agendas.
Cuban confessed that he would buy X in a perfect world. "I wish I could," he said. "There’s no reason for him to sell it."
In a deal that was finalized last December, Cuban sold his majority shares in the basketball team for $3.5 billion to a group led by Dr. Miriam Adelson, the widow of late casino magnate Sheldon Adelson.
Cuban still retains a 27 percent ownership stake in the team and will continue to oversee basketball operations, per NBA reporter Marc Stein. In January, the billionaire blessed employees of the Dallas Mavericks with a $35 million bonus following the sale of his stake in the team.
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