Source: O Cafezinho.
The degree of submission by the Brazilian media is astonishing.
It is as if we lived in a North Korea whose dictators were the Marinho family,
No one has given publicity to a recent news item vital for understanding the Brazilian economy, for example. Bloomberg, one of the largest news agencies, has just released its ranking of the world’s principal fortunes.
In the media sector, the three Marinho brothers — who split US$ 25 billion (R$ 50 billion in reais) figure among the 10 largest in the world. Summing their shares, they move up to second place, behind only David Thomson, managing partner of Reuters.
To give you some idea: The Marinho fortunes, summed, are two times as large as that of Rupert Murdoch, the dreaded Australo-American media mogul and owner of the Fox network. It is three times that of Berlusconi, who used his influence [with the media] to govern Italy for nearly 20 years.
The Marinho family fortune originated, to a certain degree, with illegal investments it received from the Time-Life, beginning in 1962, and from the support it subsequently gave the coup. The military government conferred enormous advantages on Globo,allowing it to accumulate this indecent net worth even as the distribution of wealth in Brazil was worsening.
During redemocratization, Globo’s power was such that no regulation was created to block it and its giant, continuous growth.
Even so, Globo suffered the worse crisis in its history in 2002..
A modest biogrraphy about João Roberto Marinho, the eldest of the brothers, said that he “led Globo out of the biggest corporate default in Brazil’s history.”
Surfing the wave of the “payola” scandal and avoiding taxes, Globo managed to control the situation.
The numbers produced by Bloomberg ought to sound a red alert , however,in all Brazilians who defend democracy, because it is obvious that the democratic regime is threatened by the very existence of a family which combines the largest fortune in Brazil and the leading media conglomerate, and which controls, again according to Bloomberg, nearly half the TV market in Brazil (the magazine must be referring to its revenue from advertising.) And we should remain aware of a larger threat from a company that attacks democracy and manipulates the news.
Click to enlarge. Source: Bloomberg
Filed under: Brazil