Podcast Summary: "TikTok’s New Owners"

Podcast: Today, Explained (Vox)
Episode Title: TikTok’s new owners
Date: September 23, 2025
Hosts: Noel Kim, Miles Bryan
Guests: Amrith Ramkumar (Wall Street Journal), Ben Smith (Semaphore)

Overview

This episode unpacks the rapidly changing landscape of American media ownership, focusing on the Ellison family’s rising influence and their involvement in deals reshaping iconic companies—most notably, the purchase of CBS, a major stake in TikTok, and ambitions for even larger mergers. The discussion addresses regulatory, political, and cultural questions surrounding these consolidations, particularly what it means for TikTok’s future in the U.S., the control of its underlying algorithm, and the influence of Trump-aligned billionaires on legacy and social media.

Key Discussion Points & Insights

1. The Rise of the Ellison Family in U.S. Media

• Context:

  • Media consolidation is intensifying, with the Ellisons (Larry and David) emerging as new, significant power players (00:09).
  • The family, previously less prominent than the Murdochs or Sulzbergers, is now moving aggressively into media via Oracle, Paramount, and soon, TikTok and possibly Warner Bros Discovery (00:21).

• Quote:

  • “Ellisons. Meet the Ellisons, the newest right wing billionaire family from Silicon Valley.” — Miles Bryan (00:09)

2. What’s Actually Happening With TikTok’s U.S. Operations?

• Background:
  • Ongoing political and legislative pressure over ByteDance’s Chinese ownership of TikTok has led to demands for a U.S.-controlled entity (02:16, 03:38).
  • Bipartisan concerns include data privacy, potential Chinese interference, and algorithmic manipulation.
• The Deal:
  • A new consortium led by U.S. investors (including Oracle and Silverlake) will take control of TikTok's U.S. operations. ByteDance's ownership will be reduced below 20% (08:47).
  • Oracle is a core player; Fox (Murdochs) and Michael Dell may join (09:56).
• The Algorithm Question:
  • The TikTok algorithm will be “leased” to the new U.S. entity, with security assurances from Oracle (04:39). Many in Washington remain skeptical about whether this walled-off structure truly removes Chinese influence.
• Quote:
  • “Essentially the answer would be yes... ByteDance... would copy the algorithm it uses globally and then lease it to this new entity.” — Amrith Ramkumar (04:39)
  • “The algorithm is a huge issue, and we don't want to make allowances for China to continue to influence, control what 170 million Americans see and their outlook on the world.” — Ben Smith (05:40)
• User Impact:
  • The most immediate effect is certainty: TikTok will remain operational in the U.S. (02:27).
  • Both political and economic self-interest suggest owners will keep the app’s experience largely unchanged—for now (13:37).

3. TikTok’s Journey Through Two Presidential Administrations

• Timeline:
  • Trump first targeted TikTok over national security fears, attempted a ban unless ByteDance relinquished ownership (06:10–06:26).
  • The Biden administration signed similar mandates, capping ByteDance's ownership (06:49).
  • In his second term, Trump pursued a deal to keep TikTok alive, motivated both by political calculus and business interests (07:04–08:33).
• Quote:
  • “And then Trump kind of realizes, well, I don't want to just do something that my predecessor signed... and I can make a lot of people happy if I just do a deal, and I love doing deals.” — Amrith Ramkumar (08:16)

4. Oracle, Larry Ellison, and the Trump Connection

• Profile:
  • Larry Ellison, now the world’s second richest man, co-founded Oracle and is pivotal in both tech and media. Oracle’s role as an infrastructure and AI powerhouse makes it integral to the TikTok and media deals (10:50–11:26).
• Trump Relationship:
  • Ellison is seen as a “longtime ally” of Trump, their rapport cemented over shared business and personal history (12:46).
• Political Implications:
  • Several consortium members are Trump-aligned; concerns swirl about partisan manipulation of TikTok’s algorithm and media platforms (13:14).
• Quote:
  • “They're seen as longtime allies by the president. And we've been told he sort of sees Larry as an OG of sorts in the tech space.” — Amrith Ramkumar (12:46)

5. Paramount, CBS, and the Next Wave of Consolidation

• David Ellison & Skydance:
  • Skydance, run by Larry’s son David Ellison, has acquired Paramount (and CBS), and is bidding for Warner Bros Discovery (19:20, 20:17).
• Industry Impact:
  • The trend is towards “bundling” streaming platforms to combat oversaturation and financial inefficiencies (19:45).
  • There are new, unprecedented alignments of news (CBS, CNN) and entertainment under singular billionaire stewardship (20:41).
• Quote:
  • “Now I think all bets are off. And there is a world where CBS ownership now operates CNN as well.” — Ben Smith (20:45)
• Political Bargains:
  • Trump allegedly secured significant PSA air time and legal fee payments from CBS/Paramount in exchange for regulatory approval or favorable treatment (21:33–22:15).
• Quote:
  • “CBS paid up for... the glory of what will ultimately be the CBS. Mark Zuckerberg, Jeff Bezos Presidential Library to get the administration off their back.” — Ben Smith (22:30)

6. The Bari Weiss Factor: Media Direction and Culture Wars

• Background:
  • David Ellison may offer a prominent role at CBS to Bari Weiss, known for her contrarian, anti-woke stance and her time at the WSJ and NYT (23:00, 24:24).
• Industry Skepticism:
  • TV professionals question putting an “opinion blogger” atop a complex news division (25:54).
• Larger Point:
  • The media’s core problem isn’t just political—it’s technological disruption. CBS and similar outlets have been losing relevance for decades, regardless of their politics (26:43).

7. The Changing Media Landscape and Political Realignment

• Legacy vs. New Media:
  • Trump’s hostility toward legacy media is paradoxically accelerating the growth of new, oppositional Democratic media—YouTube channels, podcasts, etc. (27:23).
• Quote:
  • “Donald Trump won the presidency really primarily by riding this wave of new media... [Now], the main outcome... has been to spur the growth of an independent, anti Trump Democratic media and to drive Democrats away from these already really very challenged legacy outlets.” — Ben Smith (27:23)

Notable Quotes & Moments

• On TikTok’s new direction:
  “American users... are going to be able to continue using it. So that's step number one...”
  — Amrith Ramkumar (02:58)

• On Larry Ellison’s background:
  “I had all the disadvantages necessary for success.”
  — Larry Ellison (quoted by Miles Bryan, 11:23)

• On Bari Weiss at CBS:
  “I think David Ellison obviously really likes what Weiss has done and wants to essentially put her in charge of the news division, whatever that means... She's just some blogger. And I've been kind of on both sides of this in my life and sympathize with both.”
  — Ben Smith (25:54)

Timestamps for Important Segments

• Media Dynasties and Ellison Family Introduction – 00:01–00:21
• What Does U.S. Control of TikTok Mean? – 02:16–05:55
• TikTok’s Political Fallout Across Two Administrations – 06:01–08:33
• Structure of the TikTok Deal – 08:47–09:56
• Oracle, Larry Ellison, and Trump Connections – 10:50–12:46
• Ellison's Broader Media Moves (Paramount/CBS/Warner Bros Discovery) – 19:04–21:29
• Trump’s Alleged Bargains with CBS/Paramount – 21:33–22:15
• Bari Weiss and CBS News Direction – 23:00–26:43
• Trump, Media, and New Political Realignments – 27:23–28:42

Conclusion

The episode paints a vivid picture of consolidation and realignment within U.S. media—highlighting the Ellisons as the latest in a line of politically influential billionaire families steering the future of both legacy and new media. Despite assurances of operational continuity for users, deep skepticism remains over the long-term implications for transparency, editorial independence, and political neutrality—especially as billionaire ownership, partisan interests, and technological change converge.

Recommended for listeners seeking:

• Insight into U.S.–China tech tensions
• The impact of billionaire ownership on news and digital platforms
• Evolving media industry business models
• The intersection of politics, technology, and cultural influence