Economic News

Buying President – Media Empire Victory?

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Article in The Nation by Jeet Heer, 6/29/26

Headline:  “For Larry Ellison, Buying Trump Is the Bargain of the Century”

Subhead:  “The billionaire has gotten media dominance and cozy government deals for what amounts to chicken feed.”

“For most people, $45 million is a staggering sum of wealth, enough to satisfy all their dreams of avarice and more. But for tech plutocrat Larry Ellison, $45 million is just a drop in the bucket.  . . To put that in perspective, for someone with $200 billion, spending $45 million is the equivalent of a person with a net worth of $200,000 spending $45. In other words, it’s chicken feed rather than real money. And it was all Ellison needed to get in Donald Trump’s good graces. . .

Read the full article at:

https://www.thenation.com/article/politics/larry-ellison-trump-corruption/

Quitting Media Work?

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Article in Poynter by Megan Griffith-Greene & Tony Atkins, 6/17/26

Headline: “Should I stay or should I go? How to decide whether it’s time to leave your journalism job”

Subhead:  “The news about the news is looking grim. Here are a few things to consider if you’re thinking about making a major career change”

“The media industry has been messy lately. Consolidation, layoffs, ownership priorities and public disputes seem to be making as much news as the actual news. The instability — and all the spilled media tea — leaves a bad taste.

“If you’re working through that instability, how do you evaluate whether it’s worth it to stay, or whether it’s time to move on?. . .”

Read the full article at:

https://www.poynter.org/business-work/2026/should-i-leave-my-journalism-job/

Stormy Time for Media Matters

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Article in Status by Oliver Darcy, 6/8/26

Headline::  “Media Matters’ Musk Mayhem”

Subhead:  “The progressive media watchdog has been forced to undergo layoffs and take other cost-cutting measures as it continues to battle the “dark MAGA” billionaire in a costly legal war, Status has learned.”

“In March of this year, an uncomfortable reality dawned on Angelo Carusone, the president of Media Matters, and the non-profit’s leadership team. As he examined the progressive media watchdog’s finances, which had come under enormous strain over the last year amid a costly legal war waged by Elon Musk, Carusone concluded that he would need to make some difficult cuts to the organization. . .”

Read the full article at:

https://www.status.news/p/media-matters-elon-musk-lawsuit-layoffs

Rt. Wing Media – No Oil Spike

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Article in Media Matters by John Knefel, 6/4/26

Headline:  “Oil executives warn of imminent price spike as right-wing media downplay risks”

Subhead:  “Conservative media figures have spent months trying to reassure their audiences that gas prices are going to come down any day now”

“Oil executives reportedly have warned the Trump administration that the Iran war is likely to cause global energy prices to skyrocket in the coming weeks, contrary to promises from right-wing media figures that the conflict will actually lower fuel costs or that any rise would be short-lived.

“According to Politico, Iran’s ongoing closure of the Strait of Hormuz ‘is steadily draining inventories to levels that are likely to send global energy prices surging in the next several weeks’ in ‘what has become the biggest disruption in crude oil flows ever’. . .”

Read the full article at:

https://www.mediamatters.org/us-iran-relations/oil-executives-warn-imminent-price-spike-right-wing-media-downplay-risks

 

Media Missing Stock Trades?

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Article in Daily Kos by Oliver Willis, 5/20/26

Headline:  “Major news outlets are ignoring Trump’s shady stock trades”

“The mainstream media has largely ignored a report detailing how Donald Trump has consistently publicly touted companies in his role as president while quietly buying up their shares.

“On Monday, Judd Legum of the Popular Information newsletter published an investigation correlating Trump’s financial disclosure filings with his public statements. And he found a pattern: Trump praises companies or visits their facilities while purchasing their stock. . .”

Read the full article at:

https://www.dailykos.com/stories/2026/5/20/800041940/media/media-ignoring-trumps-shady-stock-trades/

Murdoch Grabbing More Media?

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Article in Reuters by Dawb Chmielewsk & Edumnd Lee, 5/20/26

Headline:  “James Murdoch to acquire New York Magazine and Vox Media Podcast Network”

“James Murdoch agreed to acquire New York ‌Magazine and the Vox Media podcast network in a deal that will significantly expand his portfolio and stands to boost his influence over news and entertainment.
The deal, valued at more than $300 million, gives Murdoch control of a storied magazine brand, known for its coverage of culture, politics and fashion, along with a podcast division . . .”

Read the full article at:

https://www.reuters.com/business/media-telecom/james-murdoch-acquire-three-major-units-vox-media-2026-05-20/

Local News Knows Prices

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Article in Media Matters by Allison Fisher, 5/12/26

Headline: “If you want to see how the costs of high fuel prices are adding up for Americans, look to local media

Subhead: Reporter: “Many are worrying about how they will adjust their budget just to buy gas”

“President Donald Trump’s war with Iran has caused oil prices to surge, spiking gas prices across the country. Local news outlets have spotlighted the various impacts these record high prices have had on Americans and the people and industries we rely on, from farmers and truckers to first responders, small businesses, and even our schools, among many others. . .”

Read the full article at:

https://www.mediamatters.org/fuel-files-rising-gasoline-oil-and-fertilizer-prices/if-you-want-see-how-costs-high-fuel-prices-are

No Low-Income Media Help?

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Article in Free Press by Staff, 5/5/26

Headline:  “Free Press Opposes Carr’s Cruel and Baseless Attacks on the FCC’s Lifeline Program”

“. . .On Monday,  Free Press filed comments in the Federal Communications Commission proceeding on supposed ‘reform and modernization’ of the agency’s Lifeline program.

“Since the beginning of the year, FCC Chairman Brendan Carr has sought to undermine the bipartisan federal-assistance program, which was created during the Reagan administration to help make communications services more affordable for qualifying low-income consumers. Carr has repeatedly attacked the program and proposed changes that would potentially intimidate eligible people from applying for Lifeline benefits. . .”

Read the full article at:

https://www.freepress.net/news/free-press-opposes-carrs-cruel-and-baseless-attacks-fccs-lifeline-program

Press Confidence Low

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Article in Poynter by Angela Fu, 5/1/26

Headline:  “Opinion | U.S. falls to its lowest ever World Press Freedom Index ranking”

Subhead:  “The declines in press freedom in the U.S. are part of a broader global trend, Reporters Without Borders found.”

“Last weekend, the White House Correspondents Association dinner — already a topic of awkward conversations because of various ethical concerns — was scrapped because a gunman tried to enter the event.

“Then on Monday, President Donald Trump and first lady Melania both called for ABC late-night host Jimmy Kimmel to be fired because they didn’t like a joke he told. And now the Federal Communications Commission, seemingly spurred on by the Trumps’ social media complaints, is reviewing ABC’s licenses.

“Thursday produced even more depressing news about press freedoms in the U.S. . .”

Read the full article at:

https://www.poynter.org/commentary/2026/us-lowest-press-freedome-ranking-ever/

Grabbing Radio

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Article in the New York Times by Lauren Hirsch and Benjamin Mullin

Headline:  “SiriusXM Said to Be in Early Talks to Acquire iHeartMedia”

Subhead:  “A deal, which was described by two people familiar with the discussions, would unite two major providers of traditional and satellite radio.”

“SiriusXM is in early-stage discussions to acquire iHeartMedia, a deal that would create an audio giant with a foothold in traditional and satellite radio and podcasts, two people familiar with the discussions said Friday.

“Should a deal come to fruition, it would be the culmination of years of speculation about a tie-up. Liberty SiriusXM Group, once an affiliate of John Malone’s media empire, formerly held significant stakes in both companies. . .”

Read the full article at:

https://www.nytimes.com/2026/04/24/business/media/siriusxm-iheart-radio.html