Monopoly Money

 There are two ways to look at the proposed merger of Netflix and Warner merger. One is to look at purely as a business exercise of the relative merits of media consolidation, as Yglesias does. When you do that, it becomes purely an issue of market share and relative competition. Interestingly, it the the economist Paul Krugman who looks at the political angle, which is the increased consolidation of news sources under the control of tech broligarchs. 

There is, I suppose, some utility in allowing Netflix to take over Warner and HBO, in that you are reducing the number of streaming services that you can reasonably sign up for. This landscape is changing so fast, that I can't keep track. We moved to YouTubeTV which also gives us access to HBOMax, but I think we might also have a separate account with HBOMax. Then there is however many accounts we have with Disney/Hulu/ESPN...it's a mess.

The problem is that Warner owns CNN. Now, CNN ain't what it used to be and it used be pretty flawed. It's greatest utility is for breaking news, yet most breaking news is wrong. We are seeing this in real time with the fluid situation with both the Brown shooting and the murder of Rob and Michelle Reiner. CNN isn't expanding our understanding of the news, merely the access to it. 

If a broligarch gets his hands on that, it's objectively bad for the country. In fact, as Krugman notes, we can look at Jeff Bezos' takeover of the Washington Post as a model for all that can go wrong here. Bezos came in as a White Knight to save the ailing paper and restore it as a voice of independent reporting. Trump comes along, puts the squeeze on him and he folds like a lawn chair. Really, in terms of true reporting, the only real independent outlets among papers are the New York Times and, seemingly, the Wall Street Journal (yes, their editorial page is terrible). 

We have seen the impact of letting broligarchs take over the media, too, with the CBS disaster. What was once the premier news network - Murrow, Cronkite, 60 Minutes - is now hosting a second rate right wing podcast of Bari Weiss tongue-bathing Erika Kirk.

Jefferson once said he would prefer a country with newspaper but no government to a country with government but no newspapers. Jefferson could be a bit of an idiot. Still, a free press is essential to a free government, and the media consolidation under the control of tech lords is as big a long term problem for liberal democracy as the lawless Supreme Court.