Peter Phillips, a Professor Emeritus of Political Sociology at Sonoma State University and former Director of Project Censored (1996 to 2010), discusses his book, Giants: The Global Power Elite (2018), that focuses upon the concentration of wealth internationally whereby corporations and giant investment firms—multi-trillion dollar investment companies—have the money and power to restrict the parameters of what is possible for legacy news to cover. Elaborating how news is framed by the one-half of one per cent of the world’s population, Phillips notes how those who invest in big media (Comcast, Disney, Time Warner, 21st Century Fox, Bertelsmann, and Viacom/CBS) further protect their profits—to include these same shareholders’ investments in war—whereby news stories are modelled around the narrow parameters of these investors’ financial interests. Philipps considers the repression of news today by the collaborative efforts of intelligence agencies working to protect and expand capital (eg. governments’ “vital interests”) along with the military and political elite within every country. In this way, capital investments are shared among an international gobal elite whereby large companies like Hearst and The New York Times are primarily interested in protecting wealth as they hire public relations firms and adverising agencies—to include the Omnicom Group, WPP, and Interpublic Group—to package and release news whereby “managed news stories that are preempting objective new coverage.”
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