Cardano Founder Reacts to Rumors of Intention to Buy Media Company CNN

Cardano founder Charles Hoskinson has responded to claims made by a Twitter user, Ross Calvin, that he is forming a joint venture to buy popular media company CNN. Hoskinson replied uncertainly, “I can’t confirm or deny.” If true, such intentions may bode well for the crypto industry.

I can't confirm or deny https://t.co/akBucrsPgp
— Charles Hoskinson (@IOHK_Charles) February 25, 2023

On the other hand, the Twitter responses to the Cardano founder’s reply might imply that the speculation should be taken with a pinch of salt, as a better question to ask would be if CNN was for sale. According to Vanity Fair, a general rumor that has been quietly circulating in recent weeks is that CNN is for sale. It states, “Sources spelled it out bluntly: ‘CNN is not for sale.’ Requisite caveat: anything can happen.” The website also quotes Warner CEO David Zaslav saying privately that “he feels the network is making progress despite all the noise, and that success will be a long game.” In April 2022, CNN acquired a new parent company, Warner Bros. Discovery, after a $43 billion transaction to combine the WarnerMedia business with Discovery was closed.

Hoskinson, an ardent fan of media and journalism, expressed intent to acquire CoinDesk in January to revamp it into a mix of a news and community site. His intentions were met with criticism, with questions about whether the Cardano founder could afford the purchase of the news website given his worth. Some speculated that Hoskinson may seek the help of outside investors, hence might be the reason for the rumors of him setting up a joint venture to buy the top media company. However, the CNN acquisition remains a rumor until a definitive move or announcement is made.

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