President Trump publicly intervenes in the DOJ’s antitrust review of Netflix’s $72 billion acquisition of Warner Bros. Discovery, stating it ‘could be a problem’ due to market concentration and demanding that CNN be sold. Trump’s intervention follows his …
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Spotify renews Joe Rogan deal worth up to $250 million, but removes exclusivity allowing distribution on Apple, YouTube, marking shift in podcast landscape and cementing Rogan’s influence. The new multiyear deal represents a strategic pivot for Spotify, giving up podcast exclusivity in favor …
Joe RoganSpotifyThe Joe Rogan Experiencespotify-renewalpodcast-dealsrogan-contractplatform-strategycontent-distribution+1 more
By October 2022, Sinclair Broadcast Group owned or operated 294 television stations across the United States in 89 markets, reaching approximately 40% of American households and maintaining its position as the nation’s largest owner of local television stations. This unprecedented …
Sinclair Broadcast GroupFederal Communications Commission (FCC)David SmithLocal News Anchorssinclair-broadcastingmedia-consolidationpropagandalocal-news-capturemarket-dominance+3 more
On October 18, 2021, NPR published comprehensive reporting documenting how hedge fund ownership of local newspapers creates “news deserts” that cause measurable harm to democratic governance and civic life. The investigation revealed that since 2005, 2,500 newspapers have closed in the …
Alden Global CapitalLocal NewspapersHedge FundsCommunitiesUniversity of North Carolina Researchersnews-desertshedge-fund-predationnewspaper-collapselocal-journalismdemocracy+3 more
On May 21, 2021, Tribune Publishing shareholders approved hedge fund Alden Global Capital’s $633 million acquisition of the newspaper chain, making Alden the second-largest newspaper publisher in the United States. The transaction gave Alden control over nine major metropolitan dailies …
Alden Global CapitalTribune PublishingRandall D. SmithChicago TribuneBaltimore Sun+2 moremedia-consolidationnewspaper-collapsenews-desertshedge-fund-predationlocal-journalism+3 more
On July 16, 2018, FCC Chairman Ajit Pai announced “serious concerns” about Sinclair Broadcast Group’s proposed $3.9 billion acquisition of Tribune Media and referred the merger to an administrative law judge for a hearing—an extremely rare action that effectively killed the deal. …
Federal Communications Commission (FCC)Ajit PaiSinclair Broadcast GroupTribune MediaDavid Smith+1 moresinclair-broadcastingmedia-consolidationregulatory-capturefccpropaganda+3 more
On March 15, 2018, iHeartMedia (formerly Clear Channel Communications) filed for Chapter 11 bankruptcy protection, seeking to restructure more than $20 billion in outstanding debt accumulated from the disastrous 2008 leveraged buyout by Bain Capital and Thomas H. Lee Partners. The bankruptcy filing …
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In mid-April 2017, just weeks after quietly departing the Trump White House in March, Boris Epshteyn was hired by Sinclair Broadcast Group as “chief political analyst,” creating a direct propaganda pipeline from the Trump administration to 173 local television stations in 81 markets …
Boris EpshteynSinclair Broadcast GroupDonald TrumpWhite House Office of CommunicationsTrump Administrationsinclair-broadcastingpropagandamedia-consolidationtrump-coordinationrevolving-door+3 more
On July 24, 2008, Bain Capital and Thomas H. Lee Partners completed a historic $26.7 billion leveraged buyout of Clear Channel Communications, the nation’s largest radio broadcaster with over 1,200 stations. The transaction, led by Bain Capital (founded by Mitt Romney in 1984), loaded the …
Bain CapitalThomas H. Lee PartnersClear Channel CommunicationsiHeartMediaMitt Romney+1 moremedia-consolidationprivate-equityleveraged-buyoutregulatory-capturedebt-loading+3 more
The FCC, led by Chairman Michael Powell (son of Secretary of State Colin Powell), votes 3-2 along party lines to dramatically ease media ownership restrictions despite overwhelming public opposition. The new rules would increase the national TV ownership cap from 35% to 45% of U.S. households and …
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By August 30, 2000, Clear Channel Communications completed its acquisition of AMFM Inc., creating a radio empire of 1,240 stations nationwide—representing a 30-fold increase from the 40 stations Clear Channel owned before the 1996 Telecommunications Act eliminated ownership caps. This unprecedented …
Clear Channel CommunicationsRush LimbaughAMFM Inc.Lowry MaysRepublican Partymedia-consolidationradio-monopolyconservative-mediatalk-radiopropaganda+3 more
The Federal Communications Commission approves Viacom’s $35.6 billion acquisition of CBS Corporation despite the merger violating FCC regulations prohibiting one company from owning television stations reaching more than 35% of the U.S. audience and prohibiting ownership of two networks if one …
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America Online (AOL), the nation’s dominant Internet service provider, announces its intention to purchase Time Warner for $164 billion in the largest media merger in history. The combined entity would control magazines, video and high-speed Internet cable, cable TV channels (including CNN, …
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The Telecommunications Act of 1996’s media consolidation provisions trigger massive job losses across American journalism, gutting local news coverage and professional media employment. In radio alone, cities that once had 100 jobs for radio professionals now have perhaps 20, an 80% reduction …
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Clear Channel Communications begins an unprecedented consolidation spree following the February 1996 Telecommunications Act, acquiring $581 million worth of radio and television stations within just four months of the act’s passage. Before the Telecommunications Act eliminated ownership caps, …
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President Bill Clinton signs the Telecommunications Act of 1996 into law, eliminating the national cap on radio station ownership (previously 40 stations maximum) and increasing the television audience reach cap from 25% to 35%, triggering one of the largest media consolidation waves in American …
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The Columbia Phonograph Broadcasting System (later CBS) is founded in New York, initially as a network of 16 radio stations, just months after the Radio Act of 1927 establishes federal licensing. William Paley’s family purchases controlling interest in 1928 for $400,000, and Paley transforms …
William PaleyColumbia Phonograph CompanyArthur JudsonParamount Picturesmedia-consolidationinstitutional-capturebroadcastingcorporate-consolidation
Radio Corporation of America created the National Broadcasting Company through acquisition and merger of the WEAF and WJZ station chains, establishing the first major commercial radio broadcasting network in the United States. RCA owned 50 percent of NBC, with General Electric holding 30 percent and …
David SarnoffRadio Corporation of AmericaGeneral ElectricWestinghouseAT&Tmedia-consolidationmonopoly-powerinstitutional-capturecorporate-capture
The Scripps-McRae League is renamed Scripps-Howard Newspapers in early November 1922, recognizing company executive Roy W. Howard as co-director and consolidating control of the nation’s second-largest newspaper chain after William Randolph Hearst’s empire. Founder E.W. Scripps …
E.W. ScrippsRoy W. HowardRobert ScrippsScripps-Howard Newspapersmedia-consolidationnewspaper-chainsscrippsmonopoly
William Randolph Hearst’s media empire reaches its peak expansion in the 1920s, controlling 28 major newspapers and 18 magazines that reach one in every four Americans (20 million readers by mid-1930s), representing the largest newspaper chain consolidation in American history and …
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