Mark Cuban is ready to sign his name on the dotted line when the time comes to acquire conservative network Fox News and social media platform X.
In a recent interview with WIRED, Cuban shared that he unfortunately does not have enough cash at hand at the moment to buy Fox News, otherwise he would do it “in a heartbeat.” He said of purchasing the legacy news company, “If I had enough money to do it, which I don’t, I’d buy it in a heartbeat.” He explained that currently, Fox’s current market value is at $15.6 billion USD but he would need much more to make the full acquisition. Cuban, who is currently the Dallas Mavericks minority owner explained, “You’ve got to pay at least 50% premium. So now it’s $22 billion USD. And then, you’ve got to make all the changes, so that’s another $2 billion USD. You can sell some things off. So maybe it’s $15 billion USD net. I don’t have $15 or $20 billion USD in cash sitting around.”
According to Forbes, Cuban currently has a net worth of $5.7 billion USD. Cuban also added that in a perfect world, he would considering buying X, formerly known as Twitter, too. While he would consider acquiring the social media platform, he also noted that Elon Musk has “no reason” to sell it at the moment. Earlier this year, the two billionaires clashed in opinions which led to Musk calling Cuban out on X over the platform’s “open source.” He wrote, “Unlike the other platforms, our algorithm is open source! And if you interact and argue with “right wing” accounts, which Cuban does a lot, the algorithm will assume that’s what you *want* to do and give you more of it lmao.”
Cuban currently has a 27% ownership stake of the Mavs.
