December 10, 2012

MATTHEW CONTINETTI: The Media Mogul Protection Racket: Want a pass from negative coverage? Fund the liberal press. “What is most remarkable is that these moguls are exactly the type of characters liberals would otherwise despise and delight in cutting down. Take for example the world’s richest man, Carlos Slim, a Mexican national of Lebanese descent who is insanely wealthy thanks to the endemic cronyism of the Mexican telecommunications industry. He also bailed out the New York Times Company with a $250 million loan in 2009 and as of October 2011 owned a little more than seven percent of the property. What do you know, the Times is not exactly flooding-the-zone with reporting on Slim’s treasure chest, his interconnectedness with global politics, and the outer limits of his ambition. When Slim visited Washington, D.C., in February to huddle with Hillary Clinton, Janet Napolitano, Ron Kirk, Gene Sperling, Julius Genachowski, John Bryson, John Kerry, and others, only Univision and the WFB deigned to mention it.”

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