60 Minutes made $206 million in advertising in 2024. It was not a struggling relic. It was the most profitable serious journalism operation in American broadcasting.
Then David Ellison bought Bari Weiss's website for $150 million and handed her CBS News. She spiked a story on El Salvador's CECOT prison. She let Benjamin Netanyahu pick his own interviewer instead of sitting across from Leslie Stahl. She fired the executive producer, two on-air correspondents, and the behind-the-camera producers who actually ran the place.
The replacement EP has never worked a day in broadcast news. Ben Shapiro's Daily Wire endorsed the hire.
This is not mismanagement. Ratings are down across CBS News. The journalism is getting worse. The audience is leaving. But Ellison's other corporate deals - the Warner Bros. Discovery acquisition - got a presidential thumbs-up while Netflix got frozen out. Trump said out loud he would remember which companies played ball.
That's the transaction. CBS News bleeds so that Paramount profits. Sharyn Alfonsi doesn't have a job so that David Ellison gets his merger.
The people who watched 60 Minutes for fifty years to find out what was actually happening in the world... they just lost something that cannot be rebuilt under corporate ownership. Not in this environment. Not while the president is keeping score.
✍️“Out of the great cloud of Al hype, the outline of the crash can now be clearly discerned”
Here’s some maths from today’s @TeleBusiness column, now online:
🔗 https://t.co/4MkFivjjER
For men who love that era, you can still wear an opera pump today. The men I know who wear formalwear and cocktail attire best still wear them. Doing so requires some self-confidence and a willingness to stand out. To me, this looks tremendously elegant:
Since Liberation Day, a year ago today:
* US foreign direct investment is lower
* US factories employ 89,000 fewer people
* US goods trade deficit is UP 2%
https://t.co/LJ7h0yLJXG
One family, the right-wing Trump-aligned Ellisons, will soon control:
TikTok
CBS
CNN
HBO
Discovery Channel
BET
Cartoon Network
Comedy Central
DC Studios
Fandango
Miramax
MTV
Nickelodeon
Paramount
PlutoTV
Showtime
TBS
The CW
TNT
Warner Bros.
And more
This is oligarchy.