URBT CEO Interested In Buying CNN. Joseph Collins Jr CEO of Urban Television Network (URBT), makes a bold statement regarding his interest in purchasing CNN. Should it become available, he is even open to discussing this possibility with David Zaslav. Zaslav is the President and CEO of Discovery Inc., which controls multiple networks including HGTV, Food Network and TLC.
Collins has worked in the media industry for over 30 years and is now ready to take his company to the next level. He was finally able to agree on the terms for a $5 billion private placement from some major investors. This will allow him to expand the reach of Urban TV’s content across multiple platforms. Urban TV Network has been searching for ways to expand their media empire and increase shareholder value. With its $5 billion equity raise under way, the company has begun looking at potential acquisitions that could help them grow and gain a larger market share.
The $5 billion private placement will give URBT great buying power.
One of the companies on the list could be CNN, one of the largest news networks in the world. This idea intrigued Urban TV. It would give them access to millions of viewers around the globe who relied on CNN for their daily news. But there are risks associated with such an acquisition. Other media companies were running scared because of all the changes going on in how people consumed content online – making it difficult for traditional media outlets like CNN to keep up with new technologies and trends.
Despite this challenge, Urban TV decided to move forward and announced its intention to acquire CNN, should it become available. Joseph Collins Jr noted that further consolidation was inevitable in the media business. Consumers no longer want bulky bundles but prefer being able to pick and choose specific services instead. URBT saw great opportunity after sharp drops in stock prices opened some previously unavailable opportunities from which they could benefit greatly if they acted swiftly. Urban TV also believes that Apple, Microsoft or even Comcast, may be interested in making similar moves soon so it was important that they act fast!
Urban TV looking to make some major media acquistions
Collins has been working hard to get his media company grounded, and it seemed like they have finally hit a stride. With Urban TV’s recent $5 billion private placement, a lot of other media companies are beginning to take notice.
Collins has already began having conversations with varies media companies. These meetings have been far reaching – ranging from how best to leverage Urban TV’s new funds towards developing content for their channels; mutually beneficial partnerships between both parties; strategies around monetization opportunities; and complete buyouts of the media company.
“In buying CNN, we could provide consumers with access to fair and balanced news content. Other media companies are under extreme pressure, because of the rapidly changing consumer habits. This seems like a golden opportunity for Urban TV Network, says Collins.