Monday, July 10, 2017

Media Mogul Meeting

In my book "$everance", I go behind the doors of the annual media mogul meeting to speculate what is taking place. I'll grant you my take is somewhat ridiculous, but it's also based on an actual story I read about Michael Eisner and Rupert Murdoch fighting over who gets the biggest condo. That was reported in a Michael Eisner biography.

After the book came out, I thought it was funny that people just assumed I made up the whole concept of a secret media mogul meeting every year. There's no way the media gets together every year to hold secret meetings is there? I absolutely did not make that up. They do it every year. In fact, they're doing it again this week. The meeting itself isn't secret. Only the content of what takes place behind closed doors. The handful of moguls who control 90% of the nation's media (yes they fit in ONE room) have zero reason to worry about it being covered in the press. They'll fire anyone who does.

They presumably talk about deals, and with a new FCC open to allowing just about anything in terms of media ownership, look for another big merger or purchase to take place. Every new merger or deal will only make a terrible situation even worse, not that anyone seems to care anymore.

Every year this meeting drives me crazy. This year, it has inspired me to write a follow up piece to my book $everance on the eve of its 10th anniversary.

It will be my August Media column in the Illinois Entertainer.