undefined | Better HN

0 pointsperihelions3mo ago0 comments

https://news.ycombinator.com/item?id=46000977 ("Larry Ellison discussed axing CNN hosts with White House in takeover bid talks (theguardian.com)")

https://news.ycombinator.com/item?id=46048351 ("Larry Ellison Met with Trump to Discuss Which CNN Reporters They Plan to Fire (techdirt.com)")

Viewing this acquisition in terms of simple revenue alone is like positing Musk bought Twitter for its ad revenue. Total information control is priceless.

(In case anyone hasn't kept up with the plutocratic oligarchy in the US: Oracle's Larry Ellison currently owns Paramount (since July 2024), and Warner Bros. Entertainment owns CNN. This isn't explained in the CNBC OP: David Ellison is Larry's son and the token CEO).

0 comments

next_xibalba3mo ago

> Total information control is priceless.

Except there is robust competition in media —be it news, social, etc.

I think the political angle in terms of motivation is overstated. In terms of closing the deal though, it’s huge. David Ellison has been producing movies for quite some time. So his desire to become a big time player in that space would be a believable motivation. But he can use his father’s connections to Trump to sink the Netflix bid (or create enough FUD to convince shareholders to favor his bid).

throw0101d3mo ago

> Except there is robust competition in media —be it news, social, etc.

As of a few years ago, there were six corporations owning 90% of US media: NewsCorp, TimeWarner, Comcast, Disney, Viacom, Sony.

* https://www.reddit.com/r/coolguides/comments/fs5g0b/more_tha...

* https://techstartups.com/2020/09/18/6-corporations-control-9...

Add to that local channel ownership (like Sinclair) concentration:

* https://www.gsb.stanford.edu/insights/media-consolidation-me...

* https://www.vox.com/2018/4/6/17202824/sinclair-tribune-map

* https://www.tvtechnology.com/news/broadcasters-urge-fcc-to-h...

This is especially true when it comes to investigative journalism, where it may take weeks or months to run down leads and information.

1 more reply

j / k navigate · click thread line to collapse