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OLIGARCHS, OUTLAWS & THE END OF JOURNALISM: REAGAN’S REAL LEGACY IN
TRUMP’S GOP  
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Thom Hartmann
July 23, 2025
Hartmann Report
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_ The CBS merger isn’t a business deal — it’s a pay-to-play
scheme fueling America’s slide into oligarchy… _

,

 

The CBS merger deal illustrates everything that’s wrong with
post-Reagan Revolution America. It’s not just another corporate
merger: it’s a road sign on our accelerating march toward oligarchy,
propaganda, and the collapse of honest media.

We’ve watched one of the most important legacy broadcast platforms
in America pay a $16 million bribe to our convicted felon president,
reportedly offer him another $16 million worth of free air time, and
try to sell its entire operation to a billionaire with a God complex.
It’s the worst of the Reagan revolution coming home to roost, on our
screens, in our homes, and in our civic life.

Start with the $16 million payoff: Trump sued CBS and its parent
company Paramount over a _60 Minutes_ interview with Kamala Harris,
laughably arguing that CBS’s editing of the interview constituted
unlawful election tampering. The lawsuit was instantly and widely
regarded as frivolous, but instead of fighting it, CBS quietly settled
for an astonishing $16 million. No trial. No discovery. Just a big,
fat check.

THIS ISN’T JOURNALISM: IT’S TRIBUTE. IT’S WHAT OLIGARCHS HAVE
DONE FOR CENTURIES WHEN THEY WANT TO PLEASE THE KING.

This should shock the conscience of any functioning democracy, and has
the rest of the world wondering about the health of ours. But in the
GOP’s America — where billionaires are gods and corporations are
people — this is just Wednesday.

ANTITRUST LAWS THAT WERE ONCE ENFORCED TO KEEP OUR ECONOMY AND OUR
MEDIA DIVERSE AND COMPETITIVE ARE NOW ALL BUT IGNORED.

IT WASN’T ALWAYS THIS WAY, AS I LAY OUT IN _THE HIDDEN HISTORY OF
MONOPOLIES: HOW BIG BUSINESS DESTROYED THE AMERICAN DREAM
[[link removed]]_. BEFORE REAGAN TOOK OFFICE, THE FEDERAL
GOVERNMENT BLOCKED MERGERS THAT WOULD’VE CONCENTRATED TOO MUCH
ECONOMIC OR POLITICAL POWER.

In 1890, Congress passed the Sherman Anti-Trust Act that said giant
companies couldn’t dominate markets simply because they had the
financial muscle to buy up their smaller competitors or drive them out
of business by dropping prices long enough to run them into
bankruptcy. It was later augmented by the Clayton Anti-Trust Act
(1914) and the Celler-Kefauver Act (1950).

THE LAW WAS SO RIGOROUSLY ENFORCED — SO THE GAME OF BUSINESS COULD
BE PLAYED BY _ALL_ COMERS, NOT JUST THE “BIG BOYS” — THAT IN
THE 1960S THE SUPREME COURT BARRED THE MERGER OF THE KINNEY AND
BUSTER BROWN
[[link removed]] SHOE
COMPANIES BECAUSE THE NEW COMBINED COMPANY WOULD CONTROL 5 PERCENT OF
THE SHOE MARKET.

But then Reagan, in 1983, ordered the DOJ, SEC, and FTC to basically
stop enforcing the Sherman Act, which is why today Nike, for example,
controls about a fifth of the entire nation’s shoe market. It’s
the same across industry after industry, from retail to grocery stores
to railroads to computer software to social media to chip
manufacturing to airlines to hotels…and media.

IN THE DECADES SINCE REAGAN AND THE GOP STABBED SMALL BUSINESSES IN
THE BACK, THINGS HAVE DETERIORATED BADLY. IN 1983, THERE WERE ABOUT 50
COMPANIES THAT OWNED 90% OF AMERICAN MEDIA, CONTROLLING ROUGHLY 90% OF
WHAT AMERICANS SEE, HEAR, AND READ. AS OF TODAY, IT’S SIX: COMCAST,
DISNEY, NEWS CORP, WARNER BROS. DISCOVERY, AND PARAMOUNT (FOR NOW).
THAT’S NOT A FREE PRESS, IT’S AN OLIGOPOLY.

And now Larry Ellison, the tenth-richest man in the world with a net
worth north of $150 billion, and his son are stepping in to
consolidate even more control. Ellison already uses his wealth to push
far-right political causes; he was the single largest funder of
a rightwing PAC
[[link removed]].
Now he’ll have one of the largest megaphones in America.

THIS IS WHAT OLIGARCHY LOOKS LIKE, COURTESY OF THE REAGAN REVOLUTION
AND, MOST RECENTLY, THE CORRUPT _CITIZENS UNITED
[[link removed]]_ DECISION BY FIVE BOUGHT-OFF REPUBLICANS ON
THE SUPREME COUR [[link removed]]T.

An oligarch buys a media empire. A corrupt president extorts that
empire for cash and air time. The journalists there who once held
power to account get fired. And now Stephen Colbert — whose nightly
monologue is one of the few mainstream platforms consistently
skewering Trump and the GOP — is on the chopping block. So is the
legendary “60 Minutes” team, neutered to avoid offending
Ellison’s political pals. All to grease the wheels for a merger and
keep Trump happy.

MEANWHILE, THE AVERAGE AMERICAN GETS NOTHING. NO TRUSTWORTHY
JOURNALISM. NO INDEPENDENT VOICES. NO REAL DEBATE. JUST MORE
BILLIONAIRE-DRIVEN NARRATIVES, MORE TRUMP HAGIOGRAPHY, AND MORE OF THE
TOXIC SLUDGE THAT PASSES FOR NEWS IN POST-REAGAN AMERICA.

We’ve seen this movie before. In Hungary, Viktor Orbán used state
subsidies and friendly oligarchs to seize control of that nation’s
media. In Russia, Putin arrested or exiled journalists while his
billionaire cronies bought up every independent outlet.

Trump’s already following the blueprint to do the same here through
Project 2025: purge career civil servants, seize control of the FCC,
and turn the media into a mouthpiece for the regime. With CBS in the
hands of Ellison and already making cash payments to Trump, we’re
more than halfway there.

MAKE NO MISTAKE: THIS ISN’T ABOUT ENTERTAINMENT OR EVEN PROFITS.
IT’S ABOUT POWER. WHEN THE PRESS BECOMES THE PROPERTY OF THE
MORBIDLY RICH AND THEY WIELD IT TO DEFEND THEIR INTERESTS,
AS JEFFERSON AND ADAMS WARNED [[link removed]], DEMOCRACY
BECOMES THEIR PLAYTHING.

Trump is running a campaign of vengeance, vengeance against the media
in particular, and CBS is handing him a gun. And the kicker? Shari
Redstone — the morbidly rich heiress billionaire who’s cashing out
of CBS and Paramount — is walking away with billions while the
public walks away with nothing.

What’s happening to CBS is not just one network’s moral collapse;
it’s a symptom of our national disease. The disease Reagan diagnosed
as “government is the problem” when he actually meant:
“democracy is the problem.”

SINCE 1981, REPUBLICANS HAVE SYSTEMATICALLY DEREGULATED, DEFUNDED, AND
DISMANTLED EVERY GUARDRAIL OF DEMOCRATIC CAPITALISM THEY COULD GET
THEIR HANDS ON. THE RESULT IS AN AMERICA WHERE BILLIONAIRES LIKE
ELLISON CAN BUY THE TRUTH, WHERE THE PRESS KOWTOWS TO THE
CRIMINAL-IN-CHIEF, AND WHERE THE PUBLIC INTEREST HAS NO ADVOCATE LEFT.

We are reaping what Reagan sowed. In 1996, the Telecommunications Act
— passed with bipartisan support but cheer-led by Reaganites —
blew open the floodgates of media consolidation. In the years that
followed, Clear Channel (now iHeartMedia) gobbled up over 1,200 radio
stations. Sinclair Broadcasting used loopholes
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flood local news with right-wing propaganda.

And now, legacy TV networks are selling themselves to political
oligarchs while laundering bribes to Trump through legal settlements
and airtime giveaways.

ALL OF THIS IS HAPPENING IN PLAIN SIGHT. IT’S NOT EVEN SUBTLE
ANYMORE. TRUMP BRAGS ABOUT “RETRIBUTION,” AND CBS OFFERS HIM A
MICROPHONE. HE LIES ABOUT THE ELECTION, AND THEY HAND HIM AIRTIME. HE
THREATENS JOURNALISTS, AND THEIR BOSSES FIRE THEM.

And where are the regulators? The Department of Justice and the
Federal Trade Commission under Biden had taken steps to revive
antitrust enforcement, but Trump has ended all those efforts and put a
bootlicker in charge of the FCC.

And Congress? Half of them are on the take, funded by the very
oligarchs who benefit from this media rot. According to
OpenSecrets.org, media
[[link removed]] and internet
[[link removed]] companies
spent over $600 million lobbying Congress in 2024 alone.

WHAT WE’RE WITNESSING IS THE LOGICAL ENDPOINT OF A 44-YEAR
EXPERIMENT IN TRICKLE-DOWN LIBERTARIANISM CALLED THE REAGAN
REVOLUTION. THE BILLIONAIRES GOT THEIR TAX CUTS. THE CORPORATIONS GOT
THEIR DEREGULATION. THE POLITICIANS GOT THEIR PAYOFFS. AND THE PEOPLE
GOT LIES, PROPAGANDA, AND IMPOVERISHMENT.

It doesn’t have to be this way. We could enforce antitrust laws. We
could reinstate the Fairness Doctrine. We could limit media ownership
and break up monopolies like Comcast and Sinclair. We could tax the
billionaires who are using their wealth to warp our democracy and
rebuild public-interest journalism from the ground up.

BUT FIRST, WE HAVE TO STOP PRETENDING THIS IS NORMAL.

It’s not normal to pay a criminal ex-president $16 million to go
away and then invite him back on air; this sort of thing doesn’t
happen in any other developed country in the world.

It’s not normal to fire comedians and journalists for telling the
truth. It’s not normal for one politician to cow the nation’s news
organizations. And it’s sure as hell not normal for the Fourth
Estate to become a wholly-owned subsidiary of the neofascist MAGA
movement.

THIS ISN’T JUST A CBS PROBLEM. IT’S NOT EVEN JUST A MEDIA PROBLEM.
IT’S A DEMOCRACY PROBLEM. IF CONGRESS LETS THE ELLISONS AND TRUMPS
AND REDSTONES BUY AND SELL THE TRUTH, IT’LL BE YEARS BEFORE WE GET
IT BACK, IF EVER.

The Congressional switchboard number is 202-224-3121. Pass it along.

_Thom Hartmann is a NY Times bestselling author of 34 books in 17
languages & nation's #1 progressive radio host. Psychotherapist,
international relief worker. Politics, history, spirituality,
psychology, science, anthropology, pre-history, culture, and the
natural world._

* Journalism
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* Oligarchs
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* right wing attacks
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* Ronald Reagan
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