NOVEMBER 15, 2020 | EASTERN PILOT AT&T is reportedly looking at selling CNN to pay its massive debt, but the cable news company may ha...
NOVEMBER 15, 2020 | EASTERN PILOT
AT&T is reportedly looking at selling CNN to pay its massive debt, but the cable news company may have hit its peak "hating Trump," Fox Business Network senior correspondent Charlie Gasparino argued Friday.
"CNN does not have Donald Trump to kick around anymore and their ratings will take a hit," he told "Tucker Carlson Tonight," given the current projected presidential election results.
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He reports that AT&T is "financially unstable" with $150 billion in debt.
"They need to cut costs. There's an active investor out there," Gasparino said.
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Despite the low odds of any deal in the immediate future, a sale of CNN to billionaire Jeff Bezos would make sense from both sides, media investment bankers tell FOX Business.
"I'm not a CNN hater. They have a lot of good journalists there," Gasparino said.
"This rumor is real," he said. "AT&T is a screwed up company and ... CNN like a lot of media companies, it may have hit its peak, hating Trump."
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