Elon Musk has floated the idea of buying MSNBC news outlet and is tweeting and joking about it on X. While some spectators say the billionaire entrepreneur is trolling the left wing, others claim he could be serious about it. His acquisition of Twitter first started as a joke on social media and turned into reality in less than six months. Now that the idea is being considered, should you buy MSNBC stock before Elon Musk seriously plans to acquire the news channel?
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Comcast owns MSNBC and its stock has barely moved in the indices in the last five years. If you invested in Comcast in 2019, your portfolio would still be in the negative in 2024. In the last five years, Comcast barely saw a spurt in the charts and is down 1.54% from its 2019 price.
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Comcast Stock: Will Elon Musk Buy MSNBC?
If Elon Musk buys MSNBC from Comcast, it’ll be his first-ever acquisition of a mainstream news channel. From social media, he would go to actual news media and expand his wings in the communication industry. However, the stock of Comcast will not rise if Elon Musk buys MSNBC, simply because Comcast will no longer hold the news outlet under its umbrella.
Comcast stock will not benefit from the acquisition and will part away with MSNBC after Elon Musk’s purchase. The move will put Comcast stock in a further vulnerable position as it gained big money but lost long-term business. The stock is already on its knees in the last five years and could dip further after the sale.
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Mainstream news channels are facing the heat after the 2024 election results where Trump trounced Harris in the polls. Liberal news outlets are struggling to maintain their ratings as Americans do not trust their reporting style. The stocks of leading news outlets are tanking in 2024, including that of MSNBC’s parent company. Therefore, Elon Musk buying MSNBC could be risky as mainstream outlets are taking a beating.