That may be so. The other point is that all those media mergers are perhaps the inevitable consequence of a battled and dying industry due to disruptive technology (YouTube / Widevine).
Increased profits from unknown sources VS decreased profits from known sources. The gained marketing intelligence may come at the cost of the bottom line.
Searching for "best car engine oil" has certain brands displayed straight on the featured snippet. Who cares about the click if Google found your customer for you and got your message through for free?