Black Rock and Vanguard, controlling over 15 trillion dollars in assets, have arguably become the two most powerful corporations in the world. As Jeannette Cooperman writes: “Who controls the corporations who control our news? A helpful index was just compiled—not by mainstream media, but by Harvard researchers exploring media’s future. Skimming the list, I see two names again and again: BlackRock Fund Advisors and Vanguard Group.” Together, BlackRock and Vanguard own:
• Eighteen percent of Fox.
• Sixteen percent of CBS, and therefore also of Sixty Minutes.
• Thirteen percent of Comcast, which owns NBC, MSNBC, CNBC, and the Sky media group.
• Twelve percent of CNN.
• Twelve percent of Disney, which owns ABC and FiveThirtyEight.
• Between ten and fourteen percent of Gannett, which owns more than 250 Gannett daily newspapers plus USA Today.
• Ten percent of the Sinclair local television news, which controls seventy-two percent of U.S. households’ local TV.
• A large unspecified chunk of Graham Media Group, which owns Slate and Foreign Policy.”
And keep in mind that most of the ad revenues of the mass media come from Big Pharma as well as political candidates running for office.