Media conglomerate

A media conglomerate, media group or media institution is a company that owns large numbers of companies in various mass media such as television, radio, publishing, movies, and the Internet. Media conglomerates strive for policies that facilitate their control of the markets across the globe.^[1]

As of 2010, in terms of revenue, the Walt Disney Company is the world's largest media conglomerate, with News Corporation, Time Warner, CBS Corporation and Viacom completing the top 5, respectively.^[2] Other major players are NBCUniversal, and Sony Corporation of America.

Terminology

A conglomerate is, by definition, a large company that consists of divisions of seemingly unrelated businesses.

It is questionable whether media companies are unrelated, as of 2007^[update]. The trend has been strongly for the sharing of various kinds of content (news, film and video, music for example). The media sector is tending to consolidate, and formerly diversified companies may appear less so as a result. Therefore, the term media group may also be applied, however it has not so far replaced the more traditional term.

Criticism

Main article: Concentration of media ownership

Critics have accused the larger conglomerates of dominating media, especially news, and refusing to publicize or deem "newsworthy" information that would be harmful to their other interests, and of contributing to the merging of entertainment and news (sensationalism) at the expense of tough coverage of serious issues. They are also accused of being a leading force for the standardization of culture (see globalization, Americanization), and they are a frequent target of criticism by various groups which often perceive the news organizations as being biased toward special interests.

There is also the issue of concentration of media ownership, reducing diversity in both ownership and programming (TV shows and radio shows). There is also a strong trend in the U.S. for conglomerates to eliminate localism in broadcasting, instead using broadcast automation and voice tracking, sometimes from another city in another state. Some radio stations use prepackaged and generic satellite-fed programming with no local content, except the insertion of radio ads.

Media Deregulation: Integrating Film and Television

Media companies have thought of a way to reconstruct and enlarge their company, beyond the traditional operational methods. Often the television networks are part of the film studios, thus having a link to the company. Often there is a grand mixture of these companies working in all aspects of the media conglomerates that own numerous amounts of networks and studios. These small little companies are partly owned by these mass media companies, such as Hollywood film industry is controlled by six firms: Disney, National Amusements, News Corporation, and Time Warner, General Electric and Sony’s entertainment stretch across the film and television industries. ^[3]

Examples

Some of the most well-known media conglomerates include:

• ABS-CBN Corporation
• Advance Publications
• American Media
• BBC
• Bell Media (owned by Bell Canada Enterprises)
• Belo
• Bertelsmann
• Bonnier
• Cablevision
• Clear Channel Communications
• CBS Corporation (owned by National Amusements alongside Viacom)
• Comcast (both through its own media assets & NBCUniversal, co-owned with GE)
• Discovery Communications
• E. W. Scripps Company
• Fininvest
• Gannett Company
• GMA Network, Inc.
• Grupo Abril
• Grupo Clarín
• Grupo PRISA
• Grupo Televisa
• Hearst Corporation
• Hubbard Broadcasting
• ION Media Networks (co-owned by Avenue Capital, Black Diamond Capital, & Trilogy Capital)
• Jim Pattison Group
• Lagardère Active (owned by Lagardère Group)
• Liberty Media
• NBCUniversal (co-owned by General Electric & Comcast)
• The New York Times Company
• News Corporation
• Next Media
• Organizações Globo
• Postmedia Network
• Quebecor Media
• Rogers Communications
• Schibsted
• Shaw Communications
• Sinclair Broadcast Group
• Sony Corporation of America (owned by Sony)
• Sun-Times Media Group
• Time Warner
• The Times Group (distinct from Times Newspapers of News Corporation)
• Tribune Company
• Vice
• Viacom (owned by National Amusements alongside CBS Corporation)
• Village Voice Media
• Vivendi
• The Walt Disney Company
• The Washington Post Company

See also

• Conglomerate (company)
• Concentration of media ownership
• Media imperialism
• Media proprietor
• Lists of corporate assets

Notes

1. ^ Moglen, Eben., Pertschuck, Michael., Sherman, Scott. (1999). "Editorials" (Nation, 269: 18). p. 12. ISSN: 00278378
2. ^ - Fortune 500
3. ^ Meehan R, Eileen; Paul McDonald and Janet Wasko (2008). "Hollywood Film Industry". Ancillary Markets-Television from Challenge to save Haven 1: 108.