The world’s richest man, Elon Musk, has once again thrown the internet into a frenzy, this time with his seemingly flippant yet potentially consequential musings on acquiring MSNBC. What started as a series of memes and tongue-in-cheek remarks on X (formerly Twitter) has quickly escalated into a full-blown media debate, raising serious concerns about potential shifts in media landscape and political influence.
The speculation began last week following Comcast’s announcement to spin off its cable networks, including MSNBC and CNBC, into a separate entity called “SpinCo.” While Comcast framed this restructuring as a move to boost shareholder value and allow for more targeted investment, it inadvertently fueled rumors of potential individual channel sales. Enter Elon Musk. After Donald Trump Jr. playfully suggested the idea on X, tagging Musk and hinting at a “funniest idea ever,” Musk’s response – a simple “How much does it cost?” – sent shockwaves through the media industry.
This seemingly casual inquiry, echoing his previous, ultimately successful, pursuit of Twitter, sparked a social media firestorm. Musk’s subsequent posts, including memes mocking MSNBC – one depicting an alluring woman representing MSNBC tempting a celibate priest with the caption “And lead us not into temptation” – further amplified the speculation and triggered a wave of reactions. His allies, like Joe Rogan and Donald Trump Jr., joined the jest, adding fuel to the already raging fire of speculation. Rogan even jokingly declared his candidacy for Rachel Maddow’s job, while Trump Jr. offered to impersonate Lawrence O’Donnell (minus the “castration,” he quipped).
Adding to the chaotic online narrative, a doctored video of Rachel Maddow seemingly crying over Musk’s antics went viral. Debunked as an old clip from 2018, its widespread circulation by Musk’s supporters, despite community notes clarifying its origin, highlighted the potential for misinformation and the manipulative use of social media.
The internal reaction at MSNBC has reportedly been one of anxiety, amidst the uncertainties surrounding SpinCo. However, multiple industry insiders and analysts, including Benjamin Swinburne of Morgan Stanley, have clarified that Comcast hasn’t actually put MSNBC on the market. Swinburne pointed to the tax implications of SpinCo’s structure as a tax-free spinoff, stating a typical two-year waiting period before any significant strategic actions, such as divestitures. Executives at SpinCo have reiterated their intentions to strengthen, not sell, the network; their focus is on acquisitions, not disposals.
Despite the reassurances, the speculation persists, fueled by Musk’s unpredictable nature and history. Media analyst Craig Moffett highlighted the strong dislike that Donald Trump harbors towards both CNN and MSNBC, emphasizing the political dimensions of this situation. Mark Cuban’s comments to CNN, suggesting the inherent difficulties in altering the dynamics of linear TV news, further add to the complexity of the situation.
This saga aligns with broader concerns about “media capture,” a phenomenon where powerful individuals consolidate media control to advance particular political agendas. The potential for such a scenario in the US has raised alarm bells among experts like Ian Bassin of Protect Democracy and Gábor Scheiring, a former Hungarian MP, who highlighted the need for proactive measures to prevent right-wing media dominance. While Musk’s intentions remain unclear, his actions, mimicking his approach to Twitter, keep the possibility of an MSNBC takeover very much alive, leaving the future of the network, and the broader media landscape, hanging in the balance.
