Polling shows trust in media is at an all-time low. As the corporate press sheds viewers and subscribers, independent media is on the rise. That shift in the power dynamic has led to a panic among the establishment as they lose control over the narrative.
Many believe the sorry state of the so-called ‘mainstream media’ is self-inflicted. And on Friday’s show, Megyn was joined by Jason Calacanis and Chamath Palihapitiya, co-hosts of the All-In Podcast, to discuss information sharing in the digital age and what comes next for the media.
Shifting Landscape
Fox Corporation recently acquired Red Seat Ventures, the service provider that supports and sells ads for independent media voices like Tucker Carlson, Bill O’Reilly, Piers Morgan, and, yes, The Megyn Kelly Show. The deal led to headlines that suggested Megyn and her fellow Fox News alums were somehow “returning home” to the company they once worked for.
In reality, Megyn made it clear that she is the sole owner of The Megyn Kelly Show and has full control of the editorial for the program. “I didn’t want people to be confused because if I did sell out to Fox, if Fox owns The Megyn Kelly Show, it would change what they were getting,” she said. “It matters who owns this show… Fox does control everybody who works there. Trust me, I know. That’s why it is so amazing to be in the independent lane.”
Calacanis said the press coverage that suggested there was some kind of “sell out” was a self-defense mechanism from failing legacy media outlets. “This is about control. You and Tucker are supremely talented, but [Fox News] controlled you because they gave you these giant multi-year deals,” he said. “You guys were at the top of your game… and it is scary to be talent and then start from zero again. But you did it, and now you control it and now Tucker controls it.”
Future Forward
There are plenty of recent examples, Calacanis noted, of how editorial control can “ruin” the end product. “You can see their top-down control ruins the editorial,” he said. “You can see it in that Dominion case that Fox had to settle. They start messing with you and try to steer you in one direction or the other. The audience gets it. The audience understands it now.”
Palihapitiya believes there are even less obvious examples of tampering. “It is more subtle than that. You don’t need a $750 million lawsuit to go against you,” he said. “Now, what you have are things like the CBS clip of 60 Minutes [and Kamala Harris]. All of that just subtly chips away at people’s trust you know.”
In a world where the ‘facts’ are out there and easy to find, Palihapitiya said consumers are seeking out voices who they trust to contextualize the news and tell them what they need to know. “News has become totally commoditized. You can basically get the same facts everywhere,” he explained. “And I think what people have sniffed out is that it’s people’s opinions – especially smart people, who are consistent – that matters.”
He cited voices like Megyn, Carlson, and Ezra Klein as examples and said the power of independent voices will only continue to grow. “If you wrote an article and the byline said ‘The New York Times,’ you just wouldn’t care as much as you used to, and in five years, they’ll care even less,” Palihapitiya continued. “I think the next 20 or 30 years will be about people who can be articulate, consistent, and interesting.”
You can check out Megyn’s full interview with Calacanis and Palihapitiya by tuning in to episode 1,008 on YouTube, Apple Podcasts, or wherever you like to listen. And don’t forget that you can catch The Megyn Kelly Show live on SiriusXM’s Triumph (channel 111) weekdays from 12pm to 2pm ET.