Wait, did he actually do it? If you've been scrolling through X (formerly Twitter) or Facebook lately, you've probably seen the headlines screaming that Elon Musk just dropped $3 billion to buy CNN. Some posts even claim he's already fired the entire prime-time lineup to "fix the media."
Honestly, it sounds like a classic Musk move. The guy bought a social media giant on a whim, sends rockets to Mars, and picks fights with world leaders before breakfast. Buying a legacy news network to "restore balance" fits his brand perfectly.
But here is the cold, hard truth: Elon Musk did not buy CNN. As of January 2026, CNN is still firmly under the wing of its parent company, though that situation is getting pretty messy for other reasons. The "news" of Musk taking over was actually born in the corners of a satire website and spread like wildfire because, well, it's exactly the kind of thing people want to believe—or fear—is true.
Where did the "Musk Buys CNN" rumor start?
The internet is a wild place. This specific rumor didn't just appear out of thin air; it traced back to a site called SpaceXMania. They published an article titled "Elon Musk Reportedly Eyeing CNN Acquisition: 'I'll Fix the Media, One Network at a Time.'"
If you scroll to the bottom of that site, it basically shouts at you that nothing they write is real. They call themselves "freshest fake news." Yet, because the headline was so "on-brand" for Musk, people screenshotted it, stripped away the satire labels, and shared it as gospel.
It got so big that even world leaders fell for it. Argentine President Javier Milei publicly celebrated the "purchase" during a speech in late 2024, calling CNN a "woke stronghold" and expressing hope that Musk would change its tone. When the president of a country says it, people tend to believe it. But Milei was reacting to a meme, not a SEC filing.
Who actually owns CNN right now?
To understand why Musk hasn't bought it, you have to look at the corporate giant that currently holds the keys. CNN is a division of Warner Bros. Discovery (WBD).
If you haven't followed the business news, WBD has been through a blender lately. They've been carrying a massive mountain of debt—we're talking tens of billions—since the 2022 merger between WarnerMedia and Discovery.
The Great 2025-2026 Split
By mid-2025, the pressure on WBD CEO David Zaslav became too much. The company officially announced a plan to split into two separate entities. This is the part that gets people confused.
- Warner Bros. (The "Fun" Side): This part keeps the movie studios, HBO, and the Max streaming service. Essentially, the stuff people like to watch on Friday nights.
- Discovery Global (The "Linear" Side): This is where CNN lives, alongside HGTV, Food Network, and Discovery.
This split is scheduled to be finalized in 2026. Because CNN is being moved into a new "linear-only" company, the rumors of a sale started flying again. If WBD is breaking things up, surely someone is going to buy the pieces, right?
Why the $3 Billion price tag is total nonsense
The viral posts often cite a "$3 billion" price tag. If you know anything about media valuations, that number is kind of a joke.
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CNN is a global powerhouse. Even with its ratings struggles and the general decline of cable TV, the brand alone is worth significantly more than $3 billion. When AT&T bought Time Warner (which included CNN) back in 2018, the deal was worth over $85 billion. While CNN is only a fraction of that, a $3 billion offer would be considered a low-ball insult.
Musk bought Twitter for $44 billion. If he were actually going to buy a news network with thousands of employees and global bureaus, he wouldn't be getting it for the price of a few Falcon 9 launches.
The "Billionaire Media" trend is real
Part of the reason this story feels so believable is that billionaires are, in fact, buying up the media. We've seen it happen over and over again.
- Jeff Bezos bought The Washington Post for $250 million in 2013.
- Marc Benioff (Salesforce CEO) bought Time Magazine.
- Patrick Soon-Shiong bought the Los Angeles Times.
- Elon Musk himself bought X.
There is a clear pattern of tech moguls stepping in to "save" or "influence" legacy media institutions. Musk has been vocal about his disdain for "mainstream media" (MSM). He's spent years calling out CNN for what he perceives as bias.
When you combine his vocal criticism with his track record of impulsive acquisitions, it creates the perfect environment for a hoax to thrive. People see the headline and think, "Yeah, that sounds like something he'd do."
Could he buy it in the future?
Never say never with Elon, but it's highly unlikely. Currently, CNN is caught in a massive bidding war involving companies like Netflix and Paramount Skydance.
Netflix recently made a play for Warner's studio assets, but they explicitly said they didn't want the cable networks. Meanwhile, David Ellison of Paramount Skydance has shown interest in a merger that could combine CNN with CBS News.
Musk has his hands full. Between managing Tesla's shift to a subscription-only Full Self-Driving model, trying to get Starship to orbit regularly, and his involvement with the Department of Government Efficiency (DOGE), he doesn't exactly have the bandwidth to overhaul a 24-hour news network.
Plus, the regulatory hurdles would be a nightmare. Owning the world's "digital town square" (X) while also owning one of the biggest TV news networks would trigger antitrust red flags that would keep lawyers busy for a decade.
How to spot the next "Elon Buyout" hoax
Elon Musk is the favorite subject of satire sites because he’s unpredictable. If you see a claim that he’s bought Disney, McDonald’s, or Ford, do these three things:
- Check the SEC filings. Any multi-billion dollar acquisition of a public company (like WBD) requires an official filing. If it’s not on the SEC website, it’s not real.
- Look at the source. Is the news coming from The Wall Street Journal or a site called "TeslaFanGlobal.biz"?
- Watch Musk’s X account. If he bought it, he’d be posting memes about it within seconds.
What's next for CNN?
The network is in a period of "management limbo." Mark Thompson, the former New York Times and BBC boss, is currently trying to steer the ship through the transition to the new "Discovery Global" entity. They are pivoting hard toward digital subscriptions, trying to find a way to survive the death of the cable bundle.
If you are looking for an actual business story to follow, watch the WBD split in mid-2026. That is where the real drama is happening. There will be actual sales, actual spinoffs, and real billions of dollars changing hands—just probably not into Elon Musk's pockets.
The takeaway for you: Next time you see a headline about Musk buying a major brand, take a breath. Check a reputable business news outlet. Most of the time, it’s just someone on the internet having a laugh at the expense of our collective attention spans.
To keep yourself from getting duped, you should follow the official investor relations pages of Warner Bros. Discovery for any real news regarding CNN's ownership status. If a sale ever actually happens, that is where the press release will land first.