Sunday, December 14, 2008

Is your money being stolen and sent to Israel?

American vehicle

In the USA and UK, certain clever financiers fiddle with money, pay themselves large bonuses, and let companies like Ford and Leyland get into deep trouble.

In Germany, on the other hand, the financial system's job is to grow great German companies, like Volkswagen.

(Spend or save? Free-marketeers and the Keynesians row over the road to salvation )



German vehicle

What has been happening in the USA and UK?

Are certain financiers stealing your money and sending it to places like Israel?

According to The Truth Seeker - Voice of the White House October 2, 2008 :

“Very large amounts of money from various banks and financial institutions and the owners and controllers thereof were, and are being, sent outside this country to a secure area.

I am speaking most specifically of American business frantically sending, electronically, huge amounts of money to banks in Israel.

The three banks that are getting most of the stolen money are: Hapoalim group, Bank Leumi group, Discount Bank group. It is not necessary to mention that the senders are all Jewish..."

Milken

In March 2002, Dr. William Pierce wrote:

"Remember Michael Milken, Ivan Boesky, Marty Siegel, Dennis Levine, and the insider-trading scandal that nearly wrecked Wall Street a dozen years ago? ... Every major actor in that scandal was a Jew...

" Do you remember Martin Frankel, who stole more than $200 million dollars from insurance companies in five states...

"Do you remember Sholam Weiss, the ultra-Orthodox New York rabbi who plundered $450 million from the National Heritage Life Insurance Company in Florida, in the largest case of insurance theft in U.S. history? He stole the life savings of more than 25,000 mostly elderly Americans who had all of their retirement money invested in the insurance company."
(Enron, Fastow, and the Looting of America -- Free Speech, March 2002)

Rubin, one of the secret rulers of the world; Obama's economic team consists of Rubin's proteges

In an article entitled "Ponzi Scheme at CITI," ('PONZI SCHEME' AT CITI - New York Post) the New York Post reported:

"A new Citigroup scandal is engulfing Robert Rubin and his former disciple Chuck Prince for their roles in an alleged Ponzi-style scheme that's now choking world banking.

"Director Rubin and ousted CEO Prince - and their lieutenants over the past five years - are named in a federal lawsuit for an alleged complex cover-up of toxic securities that spread across the globe, wiping out trillions of dollars in their destructive paths.

"Investor-plaintiffs in the suit accuse Citi management of overseeing the repackaging of unmarketable collateralized debt obligations (CDOs) that no one wanted - and then reselling them to Citi and hiding the poisonous exposure off the books in shell entities.


"The lawsuit said that when the bottom fell out of the shaky assets in the past year, Citi's stock collapsed, wiping out more than $122 billion of shareholder value.

"
However, Rubin and other top insiders were able to keep Citi shares afloat until they could cash out more than $150 million for themselves in 'suspicious' stock sales" calculated to maximize the personal benefits from undisclosed inside information," the lawsuit said.

Madoff

Bernard Madoff, who is Jewish, is one of the secret rulers of the world.

According to Christopher Bollyn :

"Like Richard Fuld of Lehman Brothers, Sanford Weill of Citibank, and Maurice Greenberg of A.I.G., the major culprits behind the $2 trillion bail-out, Madoff is another New York Zionist Jew who has committed a massive financial fraud and cheated Americans and others out of untold billions of dollars...

"Cheat the 'goyim,' i.e. non-Jews, and steal their money?

"That is exactly what the Talmud teaches, make no mistake about it. It is the main reason that Jews have been despised and expelled from so many nations throughout history." (
Who is Bernard Madoff? )

Jewish American Lansky.

In December 2008, Bernard Madoff, a prominent Wall Street trader, was arrested and accused of running a £33 billion pyramid or Ponzi scheme. (Possibly the biggest fraud in corporate history )

It fooled top bankers and fund managers in many parts of the world.

Charles Ponzi was an Italian-American swindler who made more than $1m a week in the summer of 1920 by persuading people to invest in his fraudulent company.

Reportedly, Madoff had been paying “profits” to established investors with money from new investors.

The biggest victim is probably the Fairfield Greenwich Group, an American asset manager, which has $7.28 billion in danger.

Other victims include Santander, Union Bancaire Privée, BNP Paribas, the Tokyo-based Nomura Holdings and Neue Privat Bank in Zurich.


According to lawyer Brad Friedman, the alleged fraud has “swept up some of the most prominent and wealthy Americans”.

John Coffee, a professor at Columbia Law School, said: “It is very rare that a fraud of this proportion could be handled by just one man. There are trades and redemptions to be done that a 70-year-old man would have to work 20 hours a day to do.”

~~

4 comments:

Greg Bacon said...

Don't forget to add that Madoff sent huge (stolen) sums of money to Hasidic terrorist schools inside Israel, the yeshiva's.

And that Israel is staying out of harm's way in this MBS crisis that is swamping America and much of Europe, since that toxic slop wasn't peddled in Israel.

We're all Gaza now.

Anon said...

Dear Greg,

Many thanks for the additional information.

Kindest regards

Aangirfan

wchang58 said...

HOW THE JEWS ARE DESTROYING AMERICA

1. The Jews have emasculated our nation by destroying our pride in America’s Christian history. Without a commonly held memory a nation ceases to exist as a cohesive unit.

2. The Jews have labeled America’s Christian Founding Fathers as “racists” and “white slavers” while at the same time suppressing the fact that Jews financed and participated in the Black slave trade.

3. The Jews have promoted multiculturalism, celebrating every culture — no matter how backward and barbaric — except for Western white European culture. As Jewish feminist Susan Sontag, (originally named Susan Rosenblatt), stated: “The white race is the cancer of humanity.”But Susan Rosenblatt Sontag’s own cancerous contagion is her lesbian perversity with photographer Annie Leibovitz and Nicole Stephane Rothschild, the banking heiress turned movie actress.

4. The Jews have driven our Christian heritage from the public square through the efforts of the Jewish Lobby Groups, the ADL and the ACLU. American children will grow up in a society wiped clean of any vestiges of the Bible, Christ or the Cross. However, the Menorah is still allowed in public displays and in the White House for Hannukah celebrations.

5. The Jews have torn our borders open, permitting, indeed cheering, the Third World immigrants who will soon replace the white Christian American majority. The Jacob Javitzes and the Lautenbergs have designed legislation that will genocide us. They have done all this while simultaneously supporting Israel’s “Jews-only” immigration policy.

6. The Jews have pushed, created and profited from pornography and perverse entertainment. The “chosen people” make up 90% of all American pornographers. The Hollywood they run has mainstreamed wife-swapping, common law marriages, fornication, homosexuality, lesbianism, transvestitism, pedophilia, drug and alcohol abuse and self-indulgence. Bestiality will be next on the list for these society-corrupting Jews.
7. The Jews have brought homosexuality out of the closet and into our faces through numerous “rights” legislations. Sodomy is shown in their Jewish controlled media and movies as normal, healthy, enjoyable and something to celebrate openly in as brazen a fashion as possible. Six year old children in our Public Schools are shown videos promoting anal sex between males. The Jews have founded, funded and fronted every homosexual advocacy group in America.

8. The Jews have brainwashed American children in other areas besides sexual depravity. With their control of the Public Educational System and Collegiate level academia, they have filled the minds of the young with Marxism, Deconstructionism, relativism, anti-White hatred, and lies about “diversity” and non-judgmentalism. These sundry isms are the pernicious lies that have jettisoned the positive isms that once bloomed in our society: absolutism, patriotism, altruism, individualism, nationalism, etc.

9. The Jews have subverted our government. With Zionist control of the media, both print and television, the two major political parties have been steered away from the interests of the European-American majority, rendering us incapable of self-preservation. The war in Iraq, the 9/11 attacks and a possible clash with Iran in the near future, are all results of the Zionist subjugation of the most powerful nation on earth, and the prioritizing of Israel’s concerns over those of the United States.

10. The Jews have brought radical feminism to American women and girls. Thanks to the steady diet of anti-male, anti-marriage and anti-family books, lectures and college courses from the likes of the Gloria Steinems, the Betty Friedans, and the Susan Sontags, many women now see the prospect of marriage and child-rearing as an impediment to their liberation.

11. The Jews have made abortion into a sacrament. Planned Parenthood and the National Abortion Rights Action League (NARAL) is run from top to bottom by Jews. Unregulated abortion on demand is touted in the Jewish controlled Media as a positive social good for the United States. With a large percentage of abortion doctors being Jewish, the Jews have definitely made a killing out of killing.

12. The Jews have sold us the packaged lies of egalitarianism. All are equal in intelligence, morality, accomplishments — except of course, for one group. The Jewish “race” as their own leaders refer to their people, is covertly declared as being uniquely moral and wise. The Jews truly believe they have a God-given right to rule over us. To criticize their pernicious power is the most egregious societal taboo resulting in being blackballed as being, “Anti-Semitic!”

Everything on this list can be easily verified. Jews, mostly Zionists, have spearheaded every movement that now threatens our destruction. Jews have extended their tentacles into all facets of our country squeezing every vestige of wholesome life out of America.

Along with Jewish expansionism comes the debauching of all peoples, all heritages, and all traditions, except for their Judaism and Hanukah Menorahs now erected during our Christmas on the White House Lawn. But no Nativity Scenes will the Jews allow! They are hypocrites! The Jews cry out “separation of church & state” don’t they? Except when it comes to their wretched Anti Christ menorahs!

What can we do to stop the Jews? Will we fear and quake before the buzzword of “anti-Semite” or will we stand and battle for the survival of Christian civilization? It’s up to all of us to wage war against the Jews, especially we Christians, for America will either be a Christian America or a Jewish America. There is no in between!

March 14, 2009 9:41 PM


wchang58 said...
Who Rules America?
The Alien Grip on Our News and Entertainment Media Must Be Broken

By the Research Staff of National Vanguard Books
P.O. Box 330 · Hillsboro · West Virginia 24946 · USA



THERE IS NO GREATER POWER in the world today than that wielded by the manipulators of public opinion in America. No king or pope of old, no conquering general or high priest ever disposed of a power even remotely approaching that of the few dozen men who control America's mass media of news and entertainment.

Their power is not distant and impersonal; it reaches into every home in America, and it works its will during nearly every waking hour. It is the power that shapes and molds the mind of virtually every citizen, young or old, rich or poor, simple or sophisticated.

The mass media form for us our image of the world and then tell us what to think about that image. Essentially everything we know—or think we know—about events outside our own neighborhood or circle of acquaintances comes to us via our daily newspaper, our weekly news magazine, our radio, or our television.

It is not just the heavy-handed suppression of certain news stories from our newspapers or the blatant propagandizing of history-distorting TV "docudramas" that characterizes the opinion-manipulating techniques of the media masters. They exercise both subtlety and thoroughness in their management of the news and the entertainment that they present to us.

For example, the way in which the news is covered: which items are emphasized and which are played down; the reporter's choice of words, tone of voice, and facial expressions; the wording of headlines; the choice of illustrations—all of these things subliminally and yet profoundly affect the way in which we interpret what we see or hear.

On top of this, of course, the columnists and editors remove any remaining doubt from our minds as to just what we are to think about it all. Employing carefully developed psychological techniques, they guide our thought and opinion so that we can be in tune with the "in" crowd, the "beautiful people," the "smart money." They let us know exactly what our attitudes should be toward various types of people and behavior by placing those people or that behavior in the context of a TV drama or situation comedy and having the other TV characters react in the Politically Correct way.

Molding American Minds

For example, a racially mixed couple will be respected, liked, and socially sought after by other characters, as will a "take charge" Black scholar or businessman, or a sensitive and talented homosexual, or a poor but honest and hardworking illegal alien from Mexico. On the other hand, a White racist—that is, any racially conscious White person who looks askance at miscegenation or at the rapidly darkening racial situation in America—is portrayed, at best, as a despicable bigot who is reviled by the other characters, or, at worst, as a dangerous psychopath who is fascinated by firearms and is a menace to all law-abiding citizens. The White racist "gun nut," in fact, has become a familiar stereotype on TV shows.

The average American, of whose daily life TV-watching takes such an unhealthy portion, distinguishes between these fictional situations and reality only with difficulty, if at all. He responds to the televised actions, statements, and attitudes of TV actors much as he does to his own peers in real life. For all too many Americans the real world has been replaced by the false reality of the TV environment, and it is to this false reality that his urge to conform responds. Thus, when a TV scriptwriter expresses approval of some ideas and actions through the TV characters for whom he is writing, and disapproval of others, he exerts a powerful pressure on millions of viewers toward conformity with his own views.

And as it is with TV entertainment, so it is also with the news, whether televised or printed. The insidious thing about this form of thought control is that even when we realize that entertainment or news is biased, the media masters still are able to manipulate most of us. This is because they not only slant what they present, but also they establish tacit boundaries and ground rules for the permissible spectrum of opinion.

As an example, consider the media treatment of Middle East news. Some editors or commentators are slavishly pro-Israel in their every utterance, while others seem nearly neutral. No one, however, dares suggest that the U.S. government is backing the wrong side in the Arab-Jewish conflict, or that 9-11 was a result of that support. Nor does anyone dare suggest that it served Jewish interests, rather than American interests, to send U.S. forces to cripple Iraq, Israel's principal rival in the Middle East. Thus, a spectrum of permissible opinion, from pro-Israel to nearly neutral, is established.

Another example is the media treatment of racial issues in the United States. Some commentators seem almost dispassionate in reporting news of racial strife, while others are emotionally partisan—with the partisanship always on the non-White side. All of the media spokesmen without exception, however, take the position that "multiculturalism" and racial mixing are here to stay and that they are good things.

Because there are differences in degree, however, most Americans fail to realize that they are being manipulated. Even the citizen who complains about "managed news" falls into the trap of thinking that because he is presented with an apparent spectrum of opinion he can escape the thought controllers' influence by believing the editor or commentator of his choice. It's a "heads I win, tails you lose" situation. Every point on the permissible spectrum of public opinion is acceptable to the media masters—and no impermissible fact or viewpoint is allowed any exposure at all, if they can prevent it.

The control of the opinion-molding media is nearly monolithic. All of the controlled media—television, radio, newspapers, magazines, books, motion pictures—speak with a single voice, each reinforcing the other. Despite the appearance of variety, there is no real dissent, no alternative source of facts or ideas accessible to the great mass of people that might allow them to form opinions at odds with those of the media masters. They are presented with a single view of the world—a world in which every voice proclaims the equality of the races, the inerrant nature of the Jewish "Holocaust" tale, the wickedness of attempting to halt the flood of non-White aliens pouring across our borders, the danger of permitting citizens to keep and bear arms, the moral equivalence of all sexual orientations, and the desirability of a "pluralistic," cosmopolitan society rather than a homogeneous, White one. It is a view of the world designed by the media masters to suit their own ends—and the pressure to conform to that view is overwhelming. People adapt their opinions to it, vote in accord with it, and shape their lives to fit it.

And who are these all-powerful masters of the media? As we shall see, to a very large extent they are Jews. It isn't simply a matter of the media being controlled by profit-hungry capitalists, some of whom happen to be Jews. If that were the case, the ethnicity of the media masters would reflect, at least approximately, the ratio of rich Gentiles to rich Jews. Despite a few prominent exceptions, the preponderance of Jews in the media is so overwhelming that we are obliged to assume that it is due to more than mere happenstance.


Electronic News & Entertainment Media

Continuing government deregulation of the telecommunications industry has resulted, not in the touted increase of competition, but rather in an accelerating wave of corporate mergers and acquisitions that have produced a handful of multi-billion-dollar media conglomerates. The largest of these conglomerates are rapidly growing even bigger by consuming their competition, almost tripling in size during the 1990s. Whenever you watch television, whether from a local broadcasting station or via cable or a satellite dish; whenever you see a feature film in a theater or at home; whenever you listen to the radio or to recorded music; whenever you read a newspaper, book, or magazine—it is very likely that the information or entertainment you receive was produced and/or distributed by one of these megamedia companies:

Time Warner. The largest media conglomerate today is Time Warner (briefly called AOL-Time Warner; the AOL was dropped from the name when accounting practices at the AOL division were questioned by government investigators), which reached its current form when America Online bought Time Warner for $160 billion in 2000. The combined company had revenue of $39.5 billion in 2003. The merger brought together Steve Case, a Gentile, as chairman of AOL-Time Warner, and Gerald Levin, a Jew, as the CEO. Warner, founded by the Jewish Warner brothers in the early part of the last century, rapidly became part of the Jewish power base in Hollywood, a fact so well-known that it is openly admitted by Jewish authors, as is the fact that each new media acquisition becomes dominated by Jews in turn: Speaking of the initial merger of Time, Inc. with Warner, Jewish writer Michael Wolff said in New York magazine in 2001 "since Time Inc.'s merger with Warner ten years ago, one of the interesting transitions is that it has become a Jewish company." ("From AOL to W," New York magazine, January 29, 2001)

The third most powerful man at AOL-Time Warner, at least on paper, was Vice Chairman Ted Turner, a White Gentile. Turner had traded his Turner Broadcasting System, which included CNN, to Time Warner in 1996 for a large block of Time Warner shares. By April 2001 Levin had effectively fired Ted Turner, eliminating him from any real power. However, Turner remained a very large and outspoken shareholder and member of the board of directors.

Levin overplayed his hand, and in a May 2002 showdown, he was fired by the company's board. For Ted Turner, who had lost $7 billion of his $9 billion due to Levin's mismanagement, it was small solace. Turner remains an outsider with no control over the inner workings of the company. Also under pressure, Steve Case resigned effective in May 2003. The board replaced both Levin and Case with a Black, Richard Parsons. Behind Parsons the Jewish influence and power remains dominant.

AOL is the largest Internet service provider in the world, with 34 million U.S. subscribers. It is now being used as an online platform for the Jewish content from Time Warner. Jodi Kahn and Meg Siesfeld, both Jews, lead the Time Inc. Interactive team under executive editor Ned Desmond, a White Gentile. All three report to Time Inc. editor-in-chief Norman Pearlstine, a Jew. Their job is to transfer Time Warner's content to target specific segments of America Online's audience, especially women, children, and teens.

Time Warner was already the second largest of the international media leviathans when it merged with AOL. Time Warner's subsidiary HBO (26 million subscribers) is the nation's largest pay-TV cable network. HBO's "competitor" Cinemax is another of Time Warner's many cable ventures.

Until the purchase in May 1998 of PolyGram by Jewish billionaire Edgar Bronfman, Jr., Warner Music was America's largest record company, with 50 labels. Warner Music was an early promoter of "gangsta rap." Through its involvement with Interscope Records (prior to Interscope's acquisition by another Jewish-owned media firm), it helped to popularize a genre whose graphic lyrics explicitly urge Blacks to commit acts of violence against Whites. Bronfman purchased Warner Music in 2004, keeping it solidly in Jewish hands.

In addition to cable and music, Time Warner is heavily involved in the production of feature films (Warner Brothers Studio, Castle Rock Entertainment, and New Line Cinema). Time Warner's publishing division is managed by its editor-in-chief, Norman Pearlstine, a Jew. He controls 50 magazines including Time, Life, Sports Illustrated, and People. Book publishing ventures include Time-Life Books, Book-of-the-Month Club, Little Brown, and many others. Time Warner also owns Shoutcast and Winamp, the very tools that most independent Internet radio broadcasters rely on, and, as a dominant player in the Recording Industry Association of America (RIAA), was essentially "negotiating" with itself when Internet radio music royalty rules were set that strongly favored large content providers and forced many small broadcasters into silence. (The Register, "AOL Time Warner takes grip of net radio," 8th April 2003)

Ted Turner's Lesson: "Be very careful with whom you merge."

When Ted Turner, the Gentile media maverick, made a bid to buy CBS in 1985, there was panic in the media boardrooms across the country. Turner had made a fortune in advertising and then built a successful cable-TV news network, CNN, with over 70 million subscribers.

Although Turner had never taken a stand contrary to Jewish interests, he was regarded by William Paley and the other Jews at CBS as uncontrollable: a loose cannon who might at some time in the future turn against them. Furthermore, Jewish newsman Daniel Schorr, who had worked for Turner, publicly charged that his former boss held a personal dislike for Jews.

To block Turner's bid, CBS executives invited billionaire Jewish theater, hotel, insurance, and cigarette magnate Laurence Tisch to launch a "friendly" takeover of CBS. From 1986 to 1995 Tisch was the chairman and CEO of CBS, removing any threat of non-Jewish influence there. Subsequent efforts by Ted Turner to acquire CBS were obstructed by Gerald Levin's Time Warner, which owned nearly 20 percent of CBS stock and had veto power over major deals. But when his fellow Jew Sumner Redstone offered to buy CBS for $34.8 billion in 1999, Levin had no objections.

Thus, despite being an innovator and garnering headlines, Turner never commanded the "connections" necessary for being a media master. He finally decided if you can't lick 'em, join 'em, and he sold out to Levin's Time Warner. Ted Turner summed it up:



"I've had an incredible life for the most part. I made a lot of smart moves, and I made a lot of money. Then something happened, and I merged with Time Warner, which looked like the right thing to do at the time. And it was good for shareholders.

"But then I lost control. I thought I would have enough moral authority to have all the influence in the new company. If you go into business, be very careful with whom you merge.

"I thought I was buying Time Warner, but they were buying me. We had kind of a difference in viewpoint. Then they merged with AOL, and that was a complete disaster, at least so far. I have lost 85 percent of my wealth."


Disney. The second-largest media conglomerate today, with 2003 revenues of $27.1 billion, is the Walt Disney Company. Its leading personality and CEO, Michael Eisner, is a Jew.

The Disney empire, headed by a man described by one media analyst as a "control freak," includes several television production companies (Walt Disney Television, Touchstone Television, Buena Vista Television) and cable networks with more than 100 million subscribers altogether. As for feature films, the Walt Disney Motion Pictures Group includes Walt Disney Pictures, Touchstone Pictures, Hollywood Pictures, and Caravan Pictures. Disney also owns Miramax Films, run by the Jewish Weinstein brothers, Bob and Harvey, who have produced such ultra-raunchy movies as The Crying Game, Priest, and Kids.

When the Disney Company was run by the Gentile Disney family prior to its takeover by Eisner in 1984, it epitomized wholesome family entertainment. While it still holds the rights to Snow White, the company under Eisner has expanded into the production of a great deal of so-called "adult" material.

In August 1995, Eisner acquired Capital Cities/ABC, Inc., which owns the ABC television network, which in turn owns ten TV stations outright in such big markets as New York, Chicago, Philadelphia, Los Angeles, San Francisco, and Houston. In addition, in the United States ABC has 225 affiliated TV stations, over 2,900 affiliated radio stations and produces over 7,200 radio programs. ABC owns 54 radio stations and operates 57 radio stations, many in major cities such as New York, Washington, and Los Angeles. Radio Disney, part of ABC Radio Networks, provides programming targeting children.

Sports network ESPN, an ABC cable subsidiary, is headed by President and CEO George W. Bodenheimer, who is a Jew. The corporation also controls the Disney Channel, Toon Disney, A&E, Lifetime Television, SOAPnet and the History Channel, with between 86 and 88 million subscribers each. The ABC Family television network has 84 million subscribers and, in addition to broadcasting entertainment (some of it quite raunchy for a "family" channel), is also the network outlet for Christian Zionist TV evangelist Pat Robertson.

Although primarily a telecommunications company, ABC/Disney earns over $1 billion in publishing, owning Walt Disney Company Book Publishing, Hyperion Books, and Miramax Books. It also owns six daily newspapers and publishes over 20 magazines. Disney Publishing Worldwide publishes books and magazines in 55 languages in 74 countries, reaching more than 100 million readers each month

On the Internet, Disney runs Buena Vista Internet Group, ABC Internet Group, ABC.com, ABCNEWS.com, Oscar.com, Mr. Showbiz, Disney Online, Disney's Daily Blast, Disney.com, Family.com, ESPN Internet Group, ESPN.sportzone.com, Soccernet.com, NFL.com, NBA.com, Infoseek (partial ownership), and Disney Interactive.

Viacom. Number three on the list, with 2003 revenues of just over $26.5 billion, is Viacom, Inc., headed by Sumner Redstone (born Murray Rothstein), a Jew. Melvin A. Karmazin, another Jew, was number two at Viacom until June 2004, holding the positions of president and chief operating officer. Karmazin remains a large Viacom shareholder. Replacing Karmazin as co-presidents and co-COOs are a Jew, Leslie Moonves, and Tom Freston, a possible Jew. (We have been unable to confirm Freston's Jewish ancestry; he has done work for Jewish organizations and was involved in the garment trade, a heavily Jewish industry, importing clothing from the Third World to the U.S. in the 1970s.)

Viacom produces and distributes TV programs for the three largest networks, owns 39 television stations outright with another 200 affiliates in its wholly-owned CBS Television Network, owns 185 radio stations in its Infinity radio group, and has over 1,500 affiliated stations through its CBS Radio Network. It produces feature films through Paramount Pictures, headed by Jewess Sherry Lansing (born Sherry Lee Heimann), who is planning to retire at the end of 2005.

Viacom was formed in 1971 as a way to dodge an anti-monopoly FCC ruling that required CBS to spin off a part of its cable TV operations and syndicated programming business. This move by the government unfortunately did nothing to reduce the mostly Jewish collaborative monopoly that remains the major problem with the industry. In 1999, after CBS had again augmented itself by buying King World Productions (a leading TV program syndicator), Viacom acquired its progenitor company, CBS, in a double mockery of the spirit of the 1971 ruling.

Redstone acquired CBS following the December 1999 stockholders' votes at CBS and Viacom. CBS Television has long been headed by the previously mentioned Leslie Moonves; the other Viacom co-president, Tom Freston, headed wholly-owned MTV.

Viacom also owns the Country Music Television and The Nashville Network cable channels and is the largest outdoor advertising (billboards, etc.) entity in the U.S. Viacom's publishing division includes Simon & Schuster, Scribner, The Free Press, Fireside, and Archway Paperbacks. It distributes videos through its over 8,000 Blockbuster stores. It is also involved in satellite broadcasting, theme parks, and video games.

Viacom's chief claim to fame, however, is as the world's largest provider of cable programming through its Showtime, MTV, Nickelodeon, Black Entertainment Television, and other networks. Since 1989 MTV and Nickelodeon have acquired larger and larger shares of the juvenile television audience. MTV dominates the television market for viewers between the ages of 12 and 24.

Sumner Redstone owns 76 per cent of the shares of Viacom. He offers Jackass as a teen role model and pumps MTV's racially mixed rock and rap videos into 342 million homes in 140 countries and is a dominant cultural influence on White teenagers around the world. MTV also makes race-mixing movies like Save the Last Dance.

Nickelodeon, with over 87 million subscribers, has by far the largest share of the four-to-11-year-old TV audience in America and is expanding rapidly into Europe. Most of its shows do not yet display the blatant degeneracy that is MTV's trademark, but Redstone is gradually nudging the fare presented to his kiddie viewers toward the same poison purveyed by MTV. Nickelodeon continues a 12-year streak as the top cable network for children and younger teenagers.

NBC Universal. Another Jewish media mogul is Edgar Bronfman, Jr. He headed Seagram Company, Ltd., the liquor giant, until its recent merger with Vivendi. His father, Edgar Bronfman, Sr., is president of the World Jewish Congress.

Seagram owned Universal Studios and later purchased Interscope Records, the foremost promoter of "gangsta rap," from Warner. Universal and Interscope now belong to Vivendi Universal, which merged with NBC in May 2004, with the parent company now called NBC Universal.

Bronfman became the biggest man in the record business in May 1998 when he also acquired control of PolyGram, the European record giant, by paying $10.6 billion to the Dutch electronics manufacturer Philips.

In June 2000, the Bronfman family traded Seagram to Vivendi for stock in Vivendi, and Edgar, Jr. became vice chairman of Vivendi. Vivendi was originally a French utilities company, and was then led by Gentile Jean-Marie Messier. A board of directors faction led by Bronfman forced Messier to resign in July 2002.

Vivendi also acquired bisexual Jew Barry Diller's USA Networks in 2002. (Diller is the owner of InterActive Corporation, which owns Expedia, Ticketmaster, The Home Shopping Network, Lending Tree, Hotels.com, CitySearch, Evite, Match.com, and other Internet businesses.) Vivendi combined the USA Network, Universal Studios, Universal Television, and theme parks into Vivendi Universal Entertainment (VUE).

After the Vivendi-NBC merger, Bronfman used his considerable personal profits to strike out on his own, and recently purchased Warner Music from Jewish-dominated Time Warner. The current chairman of NBC Universal is a Gentile often associated with Jewish causes, long-time NBC employee Bob Wright. Ron Meyer, a Jew, is president and chief operating officer of Universal Studios. Stacey Snider, also Jewish, is the chairman of Universal Pictures. The president of NBC Universal Television Group is Jeff Zucker, another Jew.

With two of the top four media conglomerates in the hands of Jews (Disney and Viacom), with Jewish executives running the media operations of NBC Universal, and with Jews filling a large proportion of the executive jobs at Time Warner, it is unlikely that such an overwhelming degree of control came about without a deliberate, concerted effort on the Jews' part.

Other media companies: Rupert Murdoch's News Corporation owns Fox Television Network, Fox News, the FX Channel, 20th Century Fox Films, Fox 2000, and publisher Harper Collins. News Corp. is the fifth largest megamedia corporation in the nation, with 2003 revenues of approximately $19.2 billion. It is the only other media company which comes close to the top four.

Its Fox News Channel has been a key outlet pushing the Jewish neoconservative agenda that lies behind the Iraq War and which animates both the administration of George W. Bush and the "new conservatism" that embraces aggressive Zionism and multiracialism.

Murdoch is nominally a Gentile, but there is some uncertainty about his ancestry and he has vigorously supported Zionism and other Jewish causes throughout his life. (Historian David Irving has published information from a claimed high-level media source who says that Murdoch's mother, Elisabeth Joy Greene, was Jewish, but we have not been able to confirm this.) Murdoch's number two executive is Peter Chernin, who is president and chief operating officer—and a Jew.

Under Chernin, Jews hold key positions in the company: Gail Berman runs Fox Entertainment Group; Mitchell Stern heads satellite television division DirecTV; Jane Friedman is chairman and CEO of Harper Collins; and Thomas Rothman is chairman of Fox Filmed Entertainment. News Corporation also owns the New York Post and TV Guide, and both are published under Chernin's supervision. The primary printed neoconservative journal, The Weekly Standard, is also published by News Corporation and edited by William Kristol, a leading Jewish neocon spokesman and "intellectual."

Most of the television and movie production companies that are not owned by the large media corporations are also controlled by Jews.

For example, Spyglass, an "independent" film producer which has made such films as The Sixth Sense, The Insider, and Shanghai Noon, is controlled by its Jewish founders Gary Barber and Roger Birnbaum, who are co-chairmen. Jonathan Glickman serves as president and Paul Neinstein is executive vice president. Both men are Jews. Spyglass makes movies exclusively for DreamWorks SKG.

The best known of the smaller media companies, DreamWorks SKG, is a strictly kosher affair. DreamWorks was formed in 1994 amid great media hype by recording industry mogul David Geffen, former Disney Pictures chairman Jeffrey Katzenberg, and film director Steven Spielberg, all three of whom are Jews. The company produces movies, animated films, television programs, and recorded music. Considering the cash and connections that Geffen, Katzenberg, and Spielberg have, DreamWorks may soon be in the same league as the big four.

One major studio, Columbia Pictures, is owned by the Japanese multinational firm Sony. Nevertheless, the studio's chairman is Jewess Amy Pascal, and its output fully reflects the Jewish social agenda. Sony's music division recently merged with European music giant BMG to form Sony BMG Music Entertainment, now one of the world's largest music distributors. It is headed by CEO Andrew Lack, formerly president and CEO of NBC—and a Jew. Sony's overall American operations are headed by a Jew named Howard Stringer, formerly of CBS, who hired Lack.

It is well known that Jews have controlled most of the production and distribution of films since shortly after the inception of the movie industry in the early decades of the 20th century. When Walt Disney died in 1966, the last barrier to the total Jewish domination of Hollywood was gone, and Jews were able to grab ownership of the company that Walt built. Since then they have had everything their way in the movie industry.

Films produced by seven of the firms mentioned above—Disney, Warner Brothers, Paramount (Viacom), Universal (NBC Universal), 20th Century Fox (News Corp.), DreamWorks, and Columbia (Sony)—accounted for 94% of total box-office receipts for the year 2003.

The big three in television network broadcasting used to be ABC, CBS, and NBC. With the consolidation of the media empires, these three are no longer independent entities. While they were independent, however, each was controlled by a Jew since its inception: ABC by Leonard Goldenson; NBC first by David Sarnoff and then by his son Robert; and CBS first by William Paley and then by Laurence Tisch. Over several decades these networks were staffed from top to bottom with Jews, and the essential Jewishness of network television did not change when the networks were absorbed by other Jewish-dominated media corporations. The Jewish presence in television news remains particularly strong.

NBC provides a good example of this. The president of NBC News is Neal Shapiro. Jeff Zucker is NBC Universal Television Group president. Reporting directly to Zucker is his close friend Jonathan Wald, formerly an NBC program producer, now a senior consultant for CNBC. David M. Zaslav is president of NBC Cable (and also a director of digital video firm TiVo Inc.). The president of MSNBC is Rick Kaplan. All of these men are Jews.

A similar preponderance of Jews exists in the news divisions of the other networks. Sumner Redstone, Tom Freston, and Les Moonves control Viacom's CBS. Moonves demonstrated his power in 2002 by replacing the entire staff of the new CBS Early Show. He is also a great-nephew of Zionist leader David Ben-Gurion, Israel's first prime minister. Al Ortiz (also a Jew) is executive producer and director of special events coverage for CBS News. Senior executive producer Michael Bass and Victor Neufeld (formerly producer of ABC's 20/20) produce the CBS Early Show; both are Jews.

At ABC, David Westin, who is a Jew according to Jeffrey Blankfort of the Middle East Labor Bulletin, is the president of ABC News. The senior vice president for news at ABC is Paul Slavin, also a Jew. Bernard Gershon, a Jew, is senior vice president/general manager of the ABC News Digital Media Group, in charge of ABCNEWS.com, ABC News Productions, and ABC News Video Source.

The Print Media

After television news, daily newspapers are the most influential information medium in America. About 58 million of them are sold (and presumably read) each day. These millions are divided among some 1,456 different publications. One might conclude that the sheer number of different newspapers across America would provide a safeguard against minority control and distortion. Alas, such is not the case. There is less independence, less competition, and much less representation of majority interests than a casual observer would think.

In 1945, four out of five American newspapers were independently owned and published by local people with close ties to their communities. Those days, however, are gone. Most of the independent newspapers were bought out or driven out of business by the mid-1970s. Today most "local" newspapers are owned by a rather small number of large companies controlled by executives who live and work hundreds or even thousands of miles away. Today less than 20 percent of the country's 1,456 papers are independently owned; the rest belong to multi-newspaper chains. Only 103 of the total number have circulations of more than 100,000. Only a handful are large enough to maintain independent reporting staffs outside their own communities; the rest must depend on these few for all of their national and international news.

The Associated Press (AP), which sells content to newspapers, is currently under the control of its Jewish vice president and managing editor, Michael Silverman, who directs the day-to-day news reporting and supervises the editorial departments. Silverman had directed the AP's national news as assistant managing editor, beginning in 1989. Jewess Ann Levin is AP's national news editor. Silverman and Levin are under Jonathan Wolman, also a Jew, who was promoted to senior vice president of AP in November 2002.

In only two per cent of the cities in America is there more than one daily newspaper, and competition is frequently nominal even among them, as between morning and afternoon editions under the same ownership or under joint operating agreements.

Much of the competition has disappeared through the monopolistic tactics of the Jewish Newhouse family's holding company, Advance Publications. Advance publications buys one of two competing newspapers, and then starts an advertising war by slashing advertising rates, which drives both papers to the edge of bankruptcy. Advance Publications then steps in and buys the competing newspaper. Often both papers continue: one as a morning paper and the other as an evening paper. Eventually, though, one of the papers is closed—giving the Newhouse brothers the only daily newspaper in that city. For example, in 2001 the Newhouses closed the Syracuse Herald-Journal leaving their other Syracuse newspaper, the Post-Journal, with a monopoly.

The Newhouse media empire provides an example of more than the lack of real competition among America's daily newspapers: it also illustrates the insatiable appetite Jews have shown for all the organs of opinion control on which they could fasten their grip. The Newhouses own 31 daily newspapers, including several large and important ones, such as the Cleveland Plain Dealer, the Newark Star-Ledger, and the New Orleans Times-Picayune; Newhouse Broadcasting, consisting of television stations and cable operations; the Sunday supplement Parade, with a circulation of more than 35 million copies per week; some two dozen major magazines, including The New Yorker, Vogue, Wired, Glamour, Vanity Fair, Bride's, Gentlemen's Quarterly, Self, House & Garden, and all the other magazines of the wholly-owned Conde Nast group. The staffing of the magazines is, as you might expect, quite Kosher. Parade can serve as an example: Its publisher is Randy Siegel, its editor and senior vice president is Lee Kravitz, its creative director is Ira Yoffe, its science editor is David H. Levy, and its health editor is Dr. Isadore Rosenfeld.

This Jewish media empire was founded by the late Samuel Newhouse, an immigrant from Russia. When he died in 1979 at the age of 84, he bequeathed media holdings worth an estimated $1.3 billion to his two sons, Samuel and Donald. With a number of further acquisitions, the net worth of Advance Publications has grown to more than $9 billion today. The gobbling up of so many newspapers by the Newhouse family was facilitated by newspapers' revenue structure. Newspapers, to a large degree, are not supported by their subscribers but by their advertisers. It is advertising revenue—not the small change collected from a newspaper's readers—that largely pays the editor's salary and yields the owner's profit. Whenever the large advertisers in a city choose to favor one newspaper over another with their business, the favored newspaper will flourish while its competitor dies. Since the beginning of the last century, when Jewish mercantile power in America became a dominant economic force, there has been a steady rise in the number of American newspapers in Jewish hands, accompanied by a steady decline in the number of competing Gentile newspapers—to some extent a result of selective advertising policies by Jewish merchants.

Furthermore, even those newspapers still under Gentile ownership and management are so thoroughly dependent upon Jewish advertising revenue that their editorial and news reporting policies are largely constrained by Jewish likes and dislikes. It holds true in the newspaper business as elsewhere that he who pays the piper calls the tune.



Three Jewish Newspapers

The suppression of competition and the establishment of local monopolies on the dissemination of news and opinion have characterized the rise of Jewish control over America's newspapers. The resulting ability of the Jews to use the press as an unopposed instrument of Jewish policy could hardly be better illustrated than by the examples of the nation's three most prestigious and influential newspapers: the New York Times, the Wall Street Journal, and the Washington Post. These three, dominating America's financial and political capitals, are the newspapers that set the trends and the guidelines for nearly all the others. They are the ones that decide what is news and what isn't at the national and international levels. They originate the news; the others merely copy it. And all three newspapers are in Jewish hands.

The New York Times, with a 2003 circulation of 1,119,000, is the unofficial social, fashion, entertainment, political, and cultural guide of the nation. It tells America's "smart set" which books to buy and which films to see; which opinions are in style at the moment; which politicians, educators, spiritual leaders, artists, and businessmen are the real comers. And for a few decades in the 19th century it was a genuinely American newspaper.

The New York Times was founded in 1851 by two Gentiles, Henry J. Raymond and George Jones. After their deaths, it was purchased in 1896 from Jones's estate by a wealthy Jewish publisher, Adolph Ochs. His great-great-grandson, Arthur Sulzberger, Jr., is the paper's current publisher and the chairman of the New York Times Co. Russell T. Lewis, also a Jew, is president and chief executive officer of The New York Times Company. Michael Golden, another Jew, is vice chairman. Martin Nisenholtz, a Jew, runs their massive Internet operations.

The Sulzberger family also owns, through the New York Times Co., 33 other newspapers, including the Boston Globe, purchased in June 1993 for $1.1 billion; eight TV and two radio broadcasting stations; and more than 40 news-oriented Web operations. It also publishes the International Herald Tribune, the most widely distributed English-language daily in the world. The New York Times News Service transmits news stories, features, and photographs from the New York Times by wire to 506 other newspapers, news agencies, and magazines.

Of similar national importance is the Washington Post, which, by establishing its "leaks" throughout government agencies in Washington, has an inside track on news involving the Federal government.

The Washington Post, like the New York Times, had a non-Jewish origin. It was established in 1877 by Stilson Hutchins, purchased from him in 1905 by John R. McLean, and later inherited by Edward B. McLean. In June 1933, however, at the height of the Great Depression, the newspaper was forced into bankruptcy. It was purchased at a bankruptcy auction by Eugene Meyer, a Jewish financier and former partner of the infamous Bernard Baruch, a Jew who was industry czar in America during the First World War. The Washington Post was run by Katherine Meyer Graham, Eugene Meyer's daughter, until her death in 2001. She was the principal stockholder and board chairman of the Washington Post Company; and she appointed her son, Donald Graham, publisher of the paper in 1979. Donald became Washington Post Company CEO in 1991 and its board chairman in 1993, and the chain of Jewish control at the Post remains unbroken. The newspaper has a daily circulation of 732,000, and its Sunday edition sells over one million copies.

The Washington Post Company has a number of other media holdings in newspapers (the Gazette Newspapers, including 11 military publications); in television (WDIV in Detroit, KPRC in Houston, WPLG in Miami, WKMG in Orlando, KSAT in San Antonio, WJXT in Jacksonville); and in magazines, most notably the nation's number-two weekly newsmagazine, Newsweek.

The Washington Post Company's various television ventures reach a total of about 12 million homes, and its cable TV service, Cable One, has 750,000 subscribers.

The Wall Street Journal sells 1,820,000 copies each weekday and is owned by Dow Jones & Company, Inc., a New York corporation that also publishes 33 other newspapers and the weekly financial tabloid Barron's. The chairman and CEO of Dow Jones is Peter R. Kann, who is a Jew. Kann also holds the posts of chairman and publisher of the Wall Street Journal.

Most of New York's other major newspapers are in no better hands than the New York Times and the Wall Street Journal. In January 1993 the New York Daily News (circulation 729,000) was bought from the estate of the late Jewish media mogul Robert Maxwell (born Ludvik Hoch) by Jewish real-estate developer Mortimer B. Zuckerman. Another Jew, Les Goodstein, is the president and chief operating officer of the New York Daily News. And, as mentioned above, the neocon-slanted New York Post (circulation 652,000) is owned by News Corporation under the supervision of Jew Peter Chernin.


News Magazines

The story is much the same for other media as it is for television, radio, films, music, and newspapers. Consider, for example, newsmagazines. There are only three of any importance published in the United States: Time, Newsweek, and U.S. News & World Report.

Time, with a weekly circulation of 4.1 million, is published by a subsidiary of Time Warner Communications, the news media conglomerate formed by the 1989 merger of Time, Inc., with Warner Communications. The editor-in-chief of Time Warner Communication is Norman Pearlstine, a Jew.

Newsweek, as mentioned above, is published by the Washington Post Company, under the Jew Donald Graham. Its weekly circulation is 3.2 million.

U.S. News & World Report, with a weekly circulation of 2.0 million, is owned and published by the aforementioned Mortimer B. Zuckerman, who also has taken the position of editor-in-chief of the magazine for himself. Zuckerman also owns New York's tabloid newspaper, the Daily News, which is the sixth-largest paper in the nation.


Our Responsibility

Those are the facts of media control in America. Anyone willing to spend a few hours in a large library looking into current editions of yearbooks on the radio and television industries and into directories of newspapers and magazines; into registers of corporations and their officers, such as those published by Standard and Poors and by Dun and Bradstreet; and into standard biographical reference works can verify their accuracy. They are undeniable. When confronted with these facts, Jewish spokesmen customarily will use evasive tactics. "Ted Turner isn't a Jew!" they will announce triumphantly, as if that settled the issue. If pressed further they will accuse the confronter of "anti-Semitism" for even raising the subject. It is fear of this accusation that keeps many persons who know the facts silent.

But we must not remain silent on this most important of issues. The Jewish control of the American mass media is the single most important fact of life, not just in America, but in the whole world today. There is nothing—plague, famine, economic collapse, even nuclear war—more dangerous to the future of our people.

Jewish media control determines the foreign policy of the United States and permits Jewish interests rather than American interests to decide questions of war and peace. Without Jewish media control, there would have been no Persian Gulf war, for example. There would have been no NATO massacre of Serb civilians. There would have been no Iraq War, and thousands of lives would have been saved. There would have been little, if any, American support for the Zionist state of Israel, and the hatreds, feuds, and terror of the Middle East would never have been brought to our shores.

By permitting the Jews to control our news and entertainment media we are doing more than merely giving them a decisive influence on our political system and virtual control of our government; we also are giving them control of the minds and souls of our children, whose attitudes and ideas are shaped more by Jewish television and Jewish films than by parents, schools, or any other influence.

The Jew-controlled entertainment media have taken the lead in persuading a whole generation that homosexuality is a normal and acceptable way of life; that there is nothing at all wrong with White women dating or marrying Black men, or with White men marrying Asian women; that all races are inherently equal in ability and character—except that the character of the White race is suspect because of a history of oppressing other races; and that any effort by Whites at racial self-preservation is reprehensible.

We must oppose the further spreading of this poison among our people, and we must break the power of those who are spreading it. It would be intolerable for such power to be in the hands of any alien minority with values and interests different from our own. But to permit the Jews, with their 3,000-year history of nation-wrecking, from ancient Egypt to Russia, to hold such power over us is tantamount to race suicide. Indeed, the fact that so many White Americans today are so filled with a sense of racial guilt and self-hatred that they actively seek the death of their own race is a deliberate consequence of Jewish media control.

Once we have absorbed and understood the fact of Jewish media control, it is our inescapable responsibility to do whatever is necessary to break that control. We must shrink from nothing in combating this evil power that has fastened its deadly grip on our people and is injecting its lethal poison into our people's minds and souls. If our race fails to destroy it, it certainly will destroy our race.


Media of Our Own

A growing number of White Americans are working to build new media not under Jewish control. National Vanguard Books, the publisher of this pamphlet, also publishes its own full-color magazine of news, thought, and opinion, National Vanguard, a sample of which is available from the address below for $5 in the U.S. and Canada, $8 elsewhere. We also operate a news and comment Web site, updated several times daily, at NationalVanguard.org; and a weekly radio program, American Dissident Voices. The program itself and a broadcast schedule are available at natvan.com and NationalVanguard.org or by writing to the address below. It is vital that we support our own alternative media.

The National Alliance, parent organization of National Vanguard Books, is a membership organization of activists working for White interests and helping to build and fund our new media. For further information on Alliance membership, write to P.O. Box 90, Hillsboro WV 24946 USA.

March 14, 2009 9:46 PM

wchang58 said...

Seven Jewish Americans
Control Most US Media
From John Whitley
11-21-3

From southern France, Christopher Jones summarizes and comments on a report on the assassination of President Kennedy. Need I stress that WAIS censors only direct attacks on other WAISers and grossly improper laguage.

Christopher says: "I glanced at the Kennedy assassination site and found this; it fits into our discussion of Hollywood stereotypes and the slavish behavior of the US press after the 9/11 tragedy and in the run up to the invasion of Iraq. In a quick rundown, the website recapitulates an old story that I heard back in the late sixties and early seventies in California: that Kennedy was liquidated by the mafia whose kingpin was Meyer Lansky (pal of Lucky Luciano). In fact, I could add a small tidbit which the author may or may not have covered: that Marilyn Monroe was murdered by the mafia as a warning to her lovers; Bobby and Jack Kennedy. The story of the Corsican hit squad was documented in a TV documentary in Europe. Of course it would be interesting to know more about Auguste Ricord and his collaboration wih the Gestapo and if he had anything to do with our old friend, Mandel Szkolnikoff.

"Today, seven Jewish Americans run the vast majority of US television networks, the printed press, the Hollywood movie industry, the book publishing industry, and the recording industry. Most of these industries are bundled into huge media conglomerates run by the following seven individuals:

Gerald Levin, CEO and Director of AOL Time Warner

Michael Eisner, Chairman and CEO of the Walt Disney Company

Edgar Bronfman, Sr., Chairman of Seagram Company Ltd

Edgar Bronfman, Jr, President and CEO of Seagram Company Ltd and head of Universal Studios

Sumner Redstone, Chairman and CEO of Viacom, Inc

Dennis Dammerman, Vice Chairman of General Electric

Peter Chernin, President and Co-COO of News Corporation Limited

Those seven Jewish men collectively control ABC, NBC, CBS, the Turner Broadcasting System, CNN, MTV, Universal Studios, MCA Records, Geffen Records, DGC Records, GRP Records, Rising Tide Records, Curb/Universal Records, and Interscope Records.

Most of the larger independent newspapers are owned by Jewish interests as well. An example is media mogul is Samuel I. "Si" Newhouse, who owns two dozen daily newspapers from Staten Island to Oregon, plus the Sunday supplement Parade; the Conde Nast collection of magazines, including Vogue, The New Yorker, Vanity Fair, Allure, GQ, and Self; the publishing firms of Random House, Knopf, Crown, and Ballantine, among other imprints; and cable franchises with over one million subscribers."

I coul d add that Michael Eisner could depart Disney tomorrow but the company will remain in the hands of Shamrock Holdings, whose principal office is now located in Israel".

http://wais.stanford.edu/History/history_KennedyAssassination(092803).ht ml


Bronfman Group Buys Time Warner Music

NEW YORK (Reuters) - Time Warner Inc. (TWX.N: Quote, Profile, Research) on Monday said it would sell its Warner Music business to a group led by media mogul Edgar Bronfman Jr. for $2.6 billion, in a move to trim the media group's debts and signaling a return of the former Seagram chairman to the music business.

The Bronfman group beat out a bid by EMI (EMI.L: Quote, Profile, Research) for the recorded music portion of the business for an estimated $1 billion.

By choosing the Bronfman bid, Time Warner is forsaking $250 million to $300 million in cost savings it could have realized by combining with EMI, home to such acts as The Beatles and Radiohead. Warner Music artists include Madonna, Led Zeppelin and R.E.M.

On the other hand, Time Warner is getting more cash up front by selling the entire business, which includes the music publishing company, and will have an easier path to regulatory approval. In the past, European and U.S. regulators have frowned on consolidation within the music business.

Bronfman's team, backed by some of America's biggest private equity houses including Thomas H. Lee Partners, is betting it can slash costs and turn Warner Music around ahead of a comeback in sales, a major challenge in an industry currently in decline.

Bronfman has had long ties to the music business, first as a songwriter for the likes of Dionne Warwick and Celine Dion, and later as head of Seagram when he bought entertainment group MCA from Japan's Matsushita for $5.7 billion. On his watch, the renamed Universal Music bought Polygram, creating the world's largest record company.

Bronfman merged his family's entertainment empire with France's Vivendi three years ago, only to see the family fortune disintegrate. When Vivendi put its entertainment assets on the block earlier this year, Bronfman led a group to buy the assets back but was ultimately outbid by NBC.

Hit by rampant piracy and competition from other entertainment such as video games, music sales are expected to fall for the fourth year in a row in 2004.

Earlier this month Sony Music (6758.T: Quote, Profile, Research) agreed to merge with Bertelsmann AG's (BERT.UL: Quote, Profile, Research) BMG.

March 14, 2009 9:48 PM


wchang58 said...
Controlling Interests
Ownership, Control, and Insurance of The World Trade Center
The World Trade Center complex came under the control of a private owner for the first time only in mid-2001, having been built and managed by the Port Authority as a public resource. The complex was leased to a partnership of Silverstein Properties and Westfield America. 1 2 The new controllers acquired a handsome insurance policy for the complex including a clause that would prove extremely valuable: in the event of a terrorist attack, the partnership could collect the insured value of the property, and be released from their obligations under the 99-year lease. 3

Ownership Change
Author Don Paul investigated this and related issues for his 2002 book, which contains the following passage detailing financial aspects and ownership changes of the complex preceding the attack.

On April 26 of 2001 the Board of Commissioners for the Port Authority of New York and New Jersey awarded Silverstein Properties and mall-owner Westfield America a 99-year-lease on the following assets: The Twin Towers, World Trade Center Buildings 4 and 5, two 9-story office buildings, and 400,000 square feet of retail space.

The partners' winning bid was $3.2 billion for holdings estimated to be worth more than $8 billion. JP Morgan Chase, a prestigious investment-bank that's the flagship firm of its kind for Rockefeller family interests, advised the Port Authority, another body long influenced by banker and builder David Rockefeller, his age then 85, in the negotiations.

The lead partner and spokesperson for the winning bidders, Larry Silverstein, age 70, already controlled more than 8 million square feet of New York City real estate. WTC 7 and the nearby Equitable Building were prime among these prior holdings. Larry Silverstein also owned Runway 69, a nightclub in Queens that was alleged 9 years ago to be laundering money made through sales of Laotian heroin. 4

In December 2003, the Port Authority agreed to return all of the $125 million in equity that the consortium headed by Silverstein originally invested to buy the lease on the World Trade Center. The Port Authority rejected a request by the Wall Street Journal to review the transaction. 5 A press report from November 2003 about the same transaction noted that it would allow Silverstein to retain development rights. 6


The lease deal didn't close until July 24th, just 6 weeks before the attack. 7

Insurance Payouts
Don Paul also documented the money flows surrounding the loss of Building 7.

In February of 2002 Silverstein Properties won $861 million from Industrial Risk Insurers to rebuild on the site of WTC 7. Silverstein Properties' estimated investment in WTC 7 was $386 million. So: This building's collapse resulted in a profit of about $500 million. 8
The insurance money flows involved in the destruction of the original six World Trade Center buildings were far greater. Silverstein Properties, the majority owner of WTC 7, also had the majority interest in the original World Trade Center complex. Silverstein hired Willis Group Holdings Ltd. to obtain enough coverage for the complex. Willis undertook "frenetic" negotiations to acquire insurance from 25 carriers. The agreements were only temporary contracts when control of the WTC changed hands on July 24. 9

After the attack, Silverstein Properties commenced litigation against its insurers, claiming it was entitled to twice the insurance policies' value because, according to a spokesman for Mr. Silverstein, "the two hijacked airliners that struck the 110-story twin towers Sept. 11 were separate 'occurrences' for insurance purposes, entitling him to collect twice on $3.6 billion of policies." This was reported in the Bloomberg News less than one month after the attack. 10

The ensuing legal battle between the leaseholders and insurers of the World Trade Center was not about how the 9/11/01 attack on the WTC could be considered two attacks, when the WTC was only destroyed once. Rather it seemed to revolve around whether the beneficiaries thought it was one or two "occurrences." The proceedings before U.S. District Judge John S. Martin involved a number of battles over the insurers' discovery rights regarding conversations about this issue between insurance beneficiaries and their lawyers. 11 12

In December 2004, a jury ruled in favor of the insurance holders' double claim. 13

A Parable
To put these events in perspective, imagine that a person leases an expensive house, and immediately takes out an insurance policy covering the entire value of the house and specifically covering bomb attacks. Six weeks later two bombs go off in the house, separated by an hour. The house burns down, and the lessor immediately sues the insurance company to pay him twice the value of the house, and ultimately wins. The lessor also gets the city to dispose of the wreckage, excavate the site, and help him build a new house on the site.

March 14, 2009 9:49 PM

 
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