Billionaire Ellison to become most powerful US media mogul ever – NYT
Billionaire Larry Ellison, 81, is set to become the most powerful media magnate in US history, the New York Times has claimed. In a Thursday opinion piece, the outlet lamented that one of the world’s richest men, and a supporter of US President Donald Trump, is preparing to take control of major American media.
The founder of Oracle already holds a large stake in CBS and Paramount through his son David Ellison’s Skydance Media, which closed an $8.4 billion merger with Paramount last month, creating Paramount Skydance Corporation.
Within weeks of the merger, Paramount Skydance signed a seven-year, $7.7 billion contract to broadcast and stream Ultimate Fighting Championship events. UFC’s chief executive Dana White, a longtime Trump supporter, spoke at the 2024 Republican National Convention.
”The effect of Mr. Ellison’s gambit could be every bit as consequential, if not more so, than what happened a generation ago when Rupert Murdoch… created what has become Fox News, intensifying our political polarization,” the NYT wrote.
Ellison’s expected push into Hollywood and big media could go further than other tech moguls’ forays, according to the outlet.
Plans also include joining a consortium with Oracle and Andreessen Horowitz to take a major stake in TikTok as part of a Trump-backed deal. The Ellisons are also reportedly preparing an all-cash bid of up to $80 billion for Warner Bros. Discovery, which owns CNN, HBO and Warner Bros. studios.
Ellison could soon control “a powerful social media platform, an iconic Hollywood movie studio and one of the largest content streaming services,” as well as two of the country’s leading news outlets, giving Trump “an extraordinarily powerful media ally,” the NYT claimed.
Trump has repeatedly argued that most mainstream outlets, including the NYT, are left-leaning, with bias against conservatives. He has accused them spreading false stories about him to undermine his presidency.
