Why Can't Donald Trump Buy Fox News?
The question of why Donald Trump can't buy Fox News is rooted in his financial situation and the sheer cost of such acquisition. The merger of Disney with Fox for nearly 50 billion dollars highlights the massive financial commitment required. Trump has been reported to have around 10-15 billion dollars in total assets, far short of what would be necessary to purchase such a media giant.
Why Does Donald Trump Struggle with Affordability?
The public is still waiting for Trump's tax returns, but it can be assumed that his financial situation is in dire straits. National banks are not willing to lend him more money, with only Deutsche Bank, a once-respected institution now dubious, and some obscure Russians as potential lenders. This financial predicament also means that acquiring a major news network would likely result in even more legal troubles for the President.
Costly Ventures
Acquiring a big news network while holding the presidency could be a risky business. For a president, the general rule is to keep profitable assets and get rid of those that lose money. With continuous audits and potential legal challenges related to his tax returns and other financial dealings, the acquisition of a major news channel could complicate matters further.
Growing Financial Scrutiny
Trump has already faced scrutiny over his reported wealth, which many believe to be exaggerated. If true, the Internal Revenue Service (IRS) could have considerable leverage over him due to potential tax violations. If his reported income is hiding more than 25% of his true income, the IRS could initiate criminal charges, which could further strain his financial and legal situation.
Debt Accumulation
It's not just the acquisition of media assets that worries him – potential debts from dubious financial practices could also hamper his ability to make such a significant purchase. Even acquiring something as seemingly smaller as the Buffalo Bills football team has proven to be challenging, given his financial troubles. A major news channel would be an even less likely prospect.
The Media Landscape
The argument that left-wing channels all support Democrats is a sweeping generalization that misrepresents the media landscape. Whether a channel supports a particular political party is not always indicative of ownership or funding. The issue of media ownership and bias is complex and multifaceted, often leading to an oversimplification of the situation.
Conclusion
Donald Trump's ability to purchase a major news network like Fox News is complicated by his current financial situation and the legal challenges he faces. The merger of Disney with Fox News sets a high bar in terms of the financial commitment required, and his tax return audits could limit his ability to make large acquisitions. The debate around media ownership and bias highlights the need for a more nuanced understanding of the complex dynamics at play in the media landscape.