With Elon Musk making his formal offer to out-right buy Twitter, liberal media defender and CNN+ host Brian Stelter appeared desperate on Thursday’s Trustworthy Sources Everyday as he looked for other “tech players” to step in and make their own offers. He even suggested that Musk would turn Twitter into a less-successful social media site such as “Parlor or Rumble.”
“Elon Musk believes that Twitter should be transformed so he’s offering to it. He’s offering to buy the company for about $43 billion and take it private. This hostile takeover is sure to rattle Silicon Valley,” Stelter warned in a very sober tone.
After admitting Musk’s offer is “higher than Twitter’s closing price on Wednesday” and “a lot higher” than when” he became a shareholder last week, Stelter brought on Puck News co-founder William Cohan and tried to argue that Musk’s offer wasn’t enough because Twitter’s stock price was higher over a year ago:
However, the stock rose to 70 and $80 just 12-14 months prior. Does that signal to investors there’s a lot of unlocked potential in Twitter and if they just get rid of Elon Musk and get rid of this problem, they can get back to there?
“[W]hat the stock was whatever it was 18 months ago at its all-time high is not relevant anymore,” Cohan broke the bad news to him. “What’s relevant is where the stock was before he started buying, where the stock was before he made his offer. Both are up 50 percent, as you mentioned. That’s the relevant data point.”
Growing more desperate, Stelter openly hoped that another “tech player” would interject, but Cohan had more bad news:
STELTER: Bill, why wouldn’t Apple or some other tech player swoop in and take control of Twitter right now?
COHAN: Brian, I think they could. You have to view this as an actual matter.
STELTER: Let us know.
COHAN: It’s a world of Apple. It’s a world of Apple. Do you really wish to dilute this with Twitter, and all the controversy Twitter creates every day? No. No.
“Who else? Google can be said the same. Possibly Facebook but I just don’t see it. Microsoft’s got its hands full with Activision Blizzard; that’s a $70 million deal,” Cohan noted.
Cohan acknowledged that the tweets were not for drama but warned that journalists who are blue-checked would be leaving Twitter. “radicalizes it and brings back Trump or does other things that he’s talked about[.]”
Stelter also suggested Musk take down Twitter and make it into an enterprise. “Parlor or Rumble or one of those right-wing alternatives.”
A few minutes later, Stelter spoke with Bloomberg senior executive editor Brad Stone who suggested Musk’s offer (which included an official SEC filing), was just an act. “I have a hard time seeing this as anything other than a public performance by Elon,”He laughed. Stone said that Musk could also be mentioned. “addicted to the attention that comes with a dramatic public performance.”
Below is the transcript. Click “expand to read:
CNN+’s Trustworthy Sources Everyday
April 14, 2022
Eastern, 11:01:41BRIAN STELTER: If you can’t beat them, buy them? Elon Musk is saying Twitter needs to be transformed, so he’s offering to it. He’s offering to buy the company for about $43 billion and take it private. This hostile takeover is sure to rattle Silicon Valley.
This higher than Twitter’s closing price on Wednesday. It’s a lot higher than when Musk started to buy up shares in the company. Although the stock gained a lot in pre-market trades, it has largely fallen since then. It’s clear that some investors are not taking this very seriously. However, the Twitter board should.
Musk putting it simply in a tweet, saying ‘I made a bid.’ But it’s not simple at all. He’s saying to the Twitter board, take my deal or I might sell my shares and tank your stock. The Twitter board is engaged in an open battle with the wealthiest man on the planet.
(…)
Eastern at 11:03:44
STELTER – But, the stock was at 70 and $80 just 12-14 months ago. Does that signal to investors there’s a lot of unlocked potential in Twitter and if they just get rid of Elon Musk and get rid of this problem, they can get back to there?
WILLIAM COHAN (co-founder Puck News): No, I don’t agree with that. I mean, what the stock was whatever it was 18 months ago at it’s all-time-high is not relevant anymore. What’s relevant is where the stock was before he started buying, where the stock was before he made his offer. You pointed out that both stocks are up by 50+ percent. That’s the relevant data point.
(…)
Eastern, 11:05:51
STELTER: Bill, why wouldn’t Apple or some other tech player swoop in and take control of Twitter right now?
COHAN: Brian, I think they could. You have to view this as an actual matter.
STELTER: Let us know.
COHAN: It’s a world of Apple. It’s a world of Apple. Do you really wish to mix that with Twitter, and all the controversy Twitter creates every day? No. Apple is an amazing closed system. Why muck it up?
Who else? Google. Google is another example. Possibly Facebook but I just don’t see it. Microsoft’s got it’s hands full with Activision Blizzard; that’s a $70 million deal.
(…)
Eastern, 11:07:31
COHAN (Interview): Just one thing. You know, he’s in a tough situation too because if he—if he changes – One of the things that makes Twitter so much fun and why journalists like us are involved with this to such an extent is because of the daily sort of controversy and fights.
But if he, you know, radicalizes it and brings back Trump or does other things that he’s talked about doing and half the audience leaves, then it’s just going to be an echo chamber and he’s going to be the king of nothing.
STELTER: It’s going to be like Parlor or Rumble or one of those right-wing alternatives.
(…)
Eastern at 11:11 a.m.
STELTER: Where’s your head at about this? This could be one of the most important tech stories this year. Where’s your head at right now?
BRAD STONE (Bloomberg News, senior executive editor): Right. It was a great morning. Thanks, Brian.
This is a performance of Elon. If you take a look at Elon’s career and his missions at Tesla, to develop sustainable energy transport, or SpaceX, to make mankind a multi-planet species, it is difficult to see how rehabilitation of an extremely small social network of about 240 million insular users can fit in his entire career.
(…)
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