Reich: Sinister Pragmatism
2025/11/24 Leave a comment
Well worth reading. Parallels to the rise of Hitler and the Nazis and the supine nature of the German business community:
If you’re a multibillionaire, you might view democracy as a potential threat to your net worth. Control over a significant share of the dwindling number of media outlets would enable you to effectively hedge against democracy by suppressing criticism of you and other plutocrats, and discouraging any attempt to – for example – tax away your wealth.
You also have Donald Trump to contend with. In his second term of office, Trump has brazenly and illegally used the power of the US presidency to punish his enemies and reward those who lavish him with praise and profits.
So perhaps it shouldn’t have been surprising that the editorial board of the Jeff Bezos-owned Washington Post defended the razing of the East Wing of the White House to build Trump his giant ballroom – without disclosing that the Jeff Bezos-owned Amazon is a major corporate contributor to the ballroom’s funding. The Post’s editorial board also applauded Trump’s defense department’s decision to obtain a new generation of smaller nuclear reactors, but failed to mention Amazon’s stake in X-energy, a company that’s developing small nuclear reactors. And it criticised Washington DC’s refusal to accept self-driving cars without disclosing that Amazon’s self-driving car company was trying to get into the Washington DC market.
These breaches are inexcusable.
It’s much the same with the family of Larry Ellison, founder of software firm Oracle and the second-richest person in the world. Ellison is a longtime Trump donor who also, according to court records, participated in a phone call to discuss how his 2020 election defeat could be contested.
In June 2025, Ellison and Oracle were cosponsors of Trump’s military parade in Washington. At the time, Larry and his son David, founder of Skydance Media, were waiting for the Federal Communications Commission (FCC) to approve their $8bn merger with Paramount Global, owner of CBS News.
In the run-up to the sale, some top brass at CBS News and its flagship 60 Minutes resigned, citing concerns over the network’s ability to maintain its editorial independence, and revealing pressure by Paramount to tamp down stories critical of Trump. No matter. Too much money was at stake.
In July, Paramount paid $16m to settle Trump’s frivolous lawsuit against CBS and cancelled the Late Show with Stephen Colbert, much to Trump’s delight. Three weeks after the settlement was announced, Trump loyalist Brendan Carr, chairman of the FCC, approved the Ellisons’ deal, making David chief executive of the new media giant Paramount Skydance and giving him control of CBS News.
It is impossible to know the full extent to which criticism of Trump and his administration has been chilled by the media-owning billionaires, or what fawning coverage has been elicited.
But what we do know is that billionaire media owners like Musk, Bezos, Ellison and Murdoch are businessmen first and foremost. Their highest goal is not to inform the public but to make money. They know Trump can wreak havoc on their businesses by imposing unfriendly FCC rulings, enforcing labor laws against them or denying them lucrative government contracts.
And in an era when wealth is concentrated in the hands of a few individuals who have bought up key media, with a thin-skinned president who is willing and able to violate laws and norms to punish or reward, there is a growing danger that the public will not be getting the truth it needs to function.
Source: Ultra-rich media owners are tightening their grip on democracy. It’s time to wrest our power back

