from the no-corruption-here,-no-sir dept
Shortly after Netflix announced a $82.7 billion acquisition of Warner Brothers, the Ellison family, alongside Jared Kushner and the Saudis, unveiled their own hostile takeover bid to pre-empt the deal. As we’ve discussed, Larry Ellison is trying to gobble up what’s left of old media (CBS, Paramount, Warner Brothers, CNN) and fuse it with new media (TikTok) to create a right wing, billionaire-simping, propaganda safe space that blows smoke up the asses of Benjamin Netanyahu and Donald Trump.
Apparently, Jared Kushner and his investment firm Affinity Partners didn’t like the attention the partnership was generating, and have announced their tactical retreat:
“The dynamics of the investment have changed significantly since we initially became involved in October,” the spokesperson said. “We continue to believe there is a strong strategic rationale for Paramount’s offer.”
And by “dynamics,” Affinity means that the the president’s son-in-law partnering with Saudis and the planet’s second-richest technofascist billionaire to gobble up the remnants of dying U.S. corporate media was generating a few too many negative headlines for their liking.
The $108 billion hostile takeover bid is still being backed (for now, apparently) by the Saudis. And, of course, it’s still the brainchild of right wing Trump billionaire ally Larry Ellison, who will assuredly receive favorable treatment should the dispute wind up being settled by the Trump DOJ or Trump-corrupted courts.
For his part, Trump is trying to pretend Ellison isn’t a close ally and massive campaign donor, because, one can only presume, he assumes you’re all very stupid:
“For those people that think I am close with the new owners of CBS, please understand that ’60 Minutes’ has treated me far worse since the so-called ‘takeover’ than they have ever treated me before,” Trump wrote. “If they are friends, I’d hate to see my enemies!”
Of course, Bari Weiss and Larry Ellison’s conversion of CBS into a right wing propaganda mill has only just begun, so the fact that 60 Minutes occasionally still makes our thin-skinned president mad doesn’t really account for much. Ellison has met personally with Trump, directly promising all manner of firings and “news distortions” at CNN should the president grant regulatory approval.
The whole fracas puts Democrats in a bit of a bind. In an ideal world with functioning regulators, you’d advocate for the rejection of all additional media consolidation, because these deals — whether Netflix or Paramount — routinely result in mass layoffs and higher prices for consumers.
But because Congress and U.S. regulators no longer function due to corruption (despite a lot of pretense to the contrary), it’s unlikely that all deals will be blocked. And while Netflix is certainly no saint, keeping consolidated corporate media ownership out of the hands of extremist authoritarian zealots hell bent on dismantling democracy with propaganda is pretty clearly the better option.
Which means that Democrats and organizations keen on actually helping (and keeping U.S. Democracy semi-operational) are probably better off finding common cause with Netflix. There’s dogshit Netflix homogenized consolidation, which is definitely bad, and then there’s authoritarian state television dominated by the planet’s second richest techno-fascist asshole, which is significantly worse
Filed Under: consolidation, donald trump, jared kushner, journalism, larry ellison, media, mergers, propaganda
Companies: affinity partners, netflix, paramount, warner bros. discovery
