Super-Rich News Proprietors Are Tightening Their Hold on Democracy. It's Time to Wrest Public Influence Once More

The globe's most affluent individual holds the X network.

The family of the number two billionaire person manages Paramount, which then controls CBS, and may shortly take over Warner Bros, which manages CNN.

The third wealthiest individual controls Facebook, Instagram and WhatsApp.

The number four billionaire individual holds that prominent newspaper and Amazon MGM Studios.

One more ultra-rich individual operates the Fox News channel, the Wall Street Journal and the New York Post.

Why are the ultra-rich purchasing so much of the news media? Pride could be a factor, but there's a more calculated – certainly a sinister – reason.

If you possess vast wealth, you could perceive democracy as a possible danger to your net worth. Ownership of a significant share of the declining number of journalistic platforms would permit you to effectively hedge against democracy by curbing negative coverage of you and fellow billionaires, and deterring any effort to – for example – tax away your fortune.

Trump's Role

You must also contend with Donald Trump. Upon his re-election, Trump has openly and unlawfully wielded the authority of the presidency to target his opponents and favor those who shower him with praise and profits.

So perhaps it shouldn't have been shocking that the editorial board of the Jeff Bezos-owned newspaper supported the razing of the East Wing to build Trump his large event space – omitting the fact that the Amazon founder's Amazon is a major corporate contributor to the construction costs. Its editors commended Trump's defense department's decision to develop a latest iteration of compact nuclear power units, but neglected to disclose the company's investment in an energy company, a firm that's developing miniature nuclear units. And it condemned Washington DC's rejection of self-driving cars while failing to reveal that the tech giant's driverless unit was seeking access to the local market.

These failures are unacceptable.

Oracle Founder's Role

It's very similar with the family of the software magnate, co-founder of the software firm Oracle and the second-richest person. Ellison is a consistent Trump donor who based on legal filings, took part in a conversation to explore how his electoral loss could be contested.

In mid-2025, Ellison and Oracle were joint sponsors of Trump's military parade in DC. Meanwhile, father and son were expecting the telecommunications regulator to greenlight their multi-billion dollar acquisition with Paramount Global, owner of the news division.

In the lead-up to the sale, some leadership at the network and its signature investigative show quit, expressing worry about the outlet's capability to remain independent, and exposing influence by the parent company to tamp down reports negative towards Trump. Regardless. Significant financial interests were at stake.

Outcomes and Settlements

In July, the media company settled for $16m to end Trump's frivolous lawsuit against the network and canceled The Late Show With Stephen Colbert, to the former president's satisfaction. Shortly after the deal was revealed, Trump loyalist the FCC chair, head of the FCC, gave the go-ahead for the Ellisons' deal, making David CEO of the media conglomerate the combined entity and placing him in charge of the news division.

In autumn, David selected the right-leaning writer the journalist the head of news, despite her lack of experience in either broadcasting or journalism. In the past few weeks, it was disclosed that CBS News doctored Trump's newest television appearance, removing his claim that the outlet "gave me a large sum".

The Decline of Editorial Freedom

I'm old enough to remember when CBS News maintained its integrity to a demagogic president. But those were the days when the news division – the home of Edward R Murrow and Walter Cronkite – was separate from the corporate parent, and when the leadership of CBS had a distinct mission to the citizens.

It is impossible to know the complete scope to which criticism of Trump and his government has been deterred by the wealthy owners, or what favorable reporting has been generated.

Profit Over Principles

But what we do know is that billionaire media owners like Musk, Jeff Bezos, Ellison and Murdoch are capitalists above all. Their main aim is not to inform the public but to generate profit. They know the former president can cause damage to their enterprises by enacting adverse regulations, applying employment regulations targeting them or denying them state contracts.

And in an period when assets is concentrated in the possession of a small group who have bought up key media, with a easily offended president who is prepared and capable to break rules and conventions to harm or help, there is a increasing risk that the people will not be obtaining the truth it needs to operate in this democratic system.

What Can Be Done?

How should we respond?

Firstly, news organizations should disclose to their audience about all financial entanglements, and journalistic monitors and industry bodies should ensure they do.

A second suggestion (should) the US has a saner government) is that anti-monopoly authorities not approve the purchase of a prominent news organization by an individual with multiple enterprises that could present biased reporting.

Acquisition of a news organization should be regulated separately than the acquisition of, for example, a company designing driverless cars or {one|