Media conglomerate
A media conglomerate, media company, media group, or media institution is a company that owns numerous companies involved in mass media enterprises, such as music, television, radio, publishing, motion pictures, video games, amusement park, or the Internet. The weekly magazine The Nation commented, "Media conglomerates strive for policies that facilitate their control of the markets around the world."[1]
Terminology
[edit]A conglomerate is a large company composed of a number of companies (subsidiaries) engaged in generally unrelated businesses.
Some media conglomerates use their access in multiple areas to share various kinds of content such as: news, video and music, between users. The media sector's tendency to consolidate has caused formerly diversified companies to appear less diverse to prospective investors in comparison with similar companies that are traded publicly and privately. Therefore, the term media group may also be applied, however, it has not yet replaced the more traditional term.[2]
Criticism
[edit]Critics have accused the large media conglomerates of dominating the media and using unfair practices. During a protest in November 2007, critics such as Jesse Jackson spoke out against consolidation of the media.[3] This can be seen in the news industry, where corporations refuse to publicize information that would be harmful to their interests. Because some corporations do not publish any material that criticizes them or their interests, media conglomerates have been criticized for limiting free speech or not protecting free speech.[4] These practices are also suspected of contributing to the merging of entertainment and news (sensationalism[5]) at the expense of the coverage of serious issues. They are also accused of being a leading force behind the standardization of culture (see globalization,[4] Americanization) and are frequently criticized by groups that perceive news organizations as being biased toward special interests of the owners.[4]
Because there are fewer independent media, there is less diversity in news and entertainment and therefore less competition. This can result in the reduction of different points of view as well as vocalization about different issues.[6] There is also a lack of ethnic and gender diversity as a majority of those in media are white, middle-class men.[7][8][9] There is a concern that their views are being shared disproportionately more than other groups, such as women and ethnic minorities.[10] Women and minorities also have less ownership of media.[10] Women have less than 7 percent of TV and radio licenses, and minorities have around 7 percent of radio licenses and 3 percent of TV licenses.[11]
Examples by country
[edit]In the 2024 Forbes Global 2000 list, Comcast is the world's largest media conglomerate, in terms of revenue, with The Walt Disney Company, Warner Bros. Discovery, & Paramount Global completing the top four.[12]
In 1984, fifty independent media companies owned the majority of media interests within the United States. By 2011, 90% of the United States's media was controlled by six media conglomerates: GE/Comcast (NBC, Universal), News Corp (Fox News, Wall Street Journal, New York Post), Disney (ABC, ESPN, Pixar), Viacom (MTV, BET, Paramount Pictures), Time Warner (CNN, HBO, Warner Bros.), and CBS (Showtime, NFL.com).[13][14]
Between 1941 and 1975, several laws that restricted channel ownership within radio and television were enacted in order to maintain unbiased and diverse media. However under the Reagan administration, Congress and the Federal Communications Commission, then led by FCC Chairman Mark S. Fowler, began a concerted deregulation over the years 1981 and 1985. The number of television stations a single entity can own increased from seven to 12 stations.[citation needed]
The industry continued to deregulate with enactment of the Telecommunications Act of 1996. Signed by President Bill Clinton on 8 February 1996, it was considered by the FCC to be the "first major overhaul of telecommunications law in almost 62 years".[15] In the radio industry, the 40-station ownership cap was lifted, leading to an unprecedented amount of consolidation. Since this period, IHeartMedia grew from 40 stations to 1200 stations, in all 50 states, while Viacom grew to owning 180 stations across 41 markets.[citation needed]
As media consolidation grew, some in the nation began to speculate how it might negatively impact society at large. In the case of Minot, North Dakota,[16] the concerns regarding media consolidation is realized. On 18 January 2002, a train containing hazardous chemicals derailed in the middle of the night, exposing countless Minot residents to toxic waste. Upon trying to get out an emergency broadcast, the Minot police were unable to reach anyone. They were instead forwarded to the same automated message, as all the broadcast stations in Minot were single-handedly owned by IHeartMedia. As the FCC reviews media ownership rules, broadcasters continued to petition it for the elimination of all rules, while those who are against this easing would often cite the incident in Minot as how consolidation could be harmful.[citation needed]
Canada, Australia, the Philippines, and New Zealand[17] also experience the concentration of multiple media enterprises in a few companies. This concentration is an ongoing concern for the Canadian Radio-television and Telecommunications Commission, the Australian Communications and Media Authority, the Philippine National Telecommunications Commission, and New Zealand's Broadcasting Standards Authority. Other countries that have large media conglomerates with impacts on the world include: Japan, Germany, the United Kingdom, Italy, France, China, Mexico and Brazil. Media conglomerates outside of the United States include Fujisankei Communications Group (Fuji Television), Yomiuri Shimbun Holdings, Hubert Burda Media, ITV, ProSiebenSat.1, Mediaset, Axel Springer, JCDecaux, China Central Television, Alibaba Group, ABS-CBN Corporation, GMA Network, MediaQuest Holdings, Radio Philippines Network, Aliw Broadcasting Corporation, Advanced Media Broadcasting System, People's Television Network, Intercontinental Broadcasting Corporation, Presidential Broadcast Service, Viva Communications, Prasar Bharati, The Asahi Shimbun, Grupo Televisa, TV Azteca, Grupo Imagen, Grupo Globo, Baidu, GMM Grammy and Bertelsmann.[18]
United States
[edit]International
[edit]See also
[edit]- Media imperialism
- Media proprietor
- State media
- Multinational corporation
- Lists of corporate assets
- Dispersal of ownership
References
[edit]- ^ Moglen, Eben; Pertschuck, Michael; Sherman, Scott (1999). "Editorials". The Nation. Vol. 269, no. 18. p. 12. ISSN 0027-8378.
- ^ "A distinction between Business Groups and Conglomerates:The Limited Liability Effect". SSRN Electronic Journal 01/2009; DOI: 10.2139/ssrn.134299. 1 January 2009. Archived from the original on 16 February 2016. Retrieved 16 February 2016.
- ^ "Critics Turn Out To Protest Media Consolidation". The Washington Post and Times-Herald. 1 November 2007. ISSN 0190-8286. Archived from the original on 12 January 2019. Retrieved 5 August 2018.
- ^ a b c Stoll, Mary Lyn (June 2006). "Infotainment and the Moral Obligations of the Multimedia Conglomerate". Journal of Business Ethics. 66 (2–3): 253–260. doi:10.1007/s10551-005-5590-2. S2CID 153666046.
- ^ Kenix, Linda Jean. "Independent Websites Not So Different from Group-Owned". Newspaper Research Journal. 35 (2).
- ^ Shah, Anup. "Media Conglomerates, Mergers, Concentration of Ownership". Global Issues. Archived from the original on 7 October 2018. Retrieved 10 November 2017.
- ^ "Diversity in Media Ownership". Free Press. Archived from the original on 27 September 2022. Retrieved 27 September 2022.
- ^ "The Abysmal State of Media Ownership Diversity in America". The Leadership Conference on Civil and Human Rights. Archived from the original on 27 September 2022. Retrieved 27 September 2022.
- ^ Beresteanu, Arie; Ellickson, Paul B. "Minority and Female Ownership in Media Enterprises" (PDF). docs.fcc.gov. Archived (PDF) from the original on 22 January 2019. Retrieved 12 June 2007.
- ^ a b Gamson, Joshua; Latteier, Pearl (Summer 2004). "Do media monsters devour diversity?". Contexts. 3 (3). American Sociological Association: 26–32. doi:10.1525/ctx.2004.3.3.26. S2CID 62715815. Archived from the original on 9 March 2022. Retrieved 9 March 2022.
Studies routinely find that the individuals appearing in mass media are disproportionately white, middle-class men between the ages of 20 and 60. ... the rapid consolidation of deregulated media companies makes it even less likely that companies and stations will be minority-owned today.
- ^ "Diversity in Media Ownership". Free Press. Archived from the original on 22 November 2017. Retrieved 6 November 2017.
- ^ Kochkodin, Brandon. "The World's Largest Media Companies 2024: Disney, Charter Communications And Warner Bros. Discovery All Fall". Forbes. Retrieved 13 June 2024.
- ^ Lutz, Ashley (14 June 2012). "These 6 Corporations Control 90% of the Media in America". Business Insider. Archived from the original on 11 September 2020. Retrieved 2 June 2020.
- ^ "Timeline". Moyers on America. PBS. 2006. Archived from the original on 16 December 2017. Retrieved 27 October 2017.
- ^ "Telecommunications Act of 1986". Federal Communications Commission. FCC. 20 June 2013. Archived from the original on 6 December 2018. Retrieved 27 October 2017.
- ^ Fisher, Marc. "Sounds Familiar for a Reason". The Washington Post. Archived from the original on 19 November 2017. Retrieved 27 October 2017.
- ^ Hope, Wayne; Myllylahti, Merja. "Financialisation of Media Ownership in New Zealand". New Zealand Sociology. 28 (3).
- ^ O'Reilly, Lara. "The 30 Biggest Media Companies in the World". Business Insider. Archived from the original on 1 June 2016. Retrieved 10 November 2017.
- ^ "Holdings by Industry". AccessIndustries.com. Access Industries. Archived from the original on 27 June 2019. Retrieved 27 June 2019.
- ^ Hipes, Patrick (18 April 2017). "Len Blavatnik's Access Acquires RatPac Entertainment Stake". Deadline. Archived from the original on 23 April 2017. Retrieved 3 July 2019.
- ^ "Amedia". Access Industries. Archived from the original on 23 December 2017. Retrieved 3 July 2019.
- ^ "Blavatnik Increases Stake in RGE Media Group". Haaretz. 30 April 2010. Archived from the original on 3 July 2019. Retrieved 3 July 2019.
- ^ Williams, Christopher (20 August 2016). "Blavatnik's Perform Group rebuffs tech investors to build 'Netflix for sport'". The Telegraph. Archived from the original on 13 December 2017. Retrieved 3 July 2019.
- ^ "Perform | Access Industries". Archived from the original on 27 June 2019. Retrieved 3 July 2019.
- ^ "Warner Bros. Discovery, Inc. Reports Fourth-Quarter 2023 Earnings Results" (PDF). Warner Bros. Discovery. 3 September 2024. Archived (PDF) from the original on 1 March 2024. Retrieved 3 September 2024.
- ^ "Hasbro's Competitors, Revenue, Number of Employees, Funding and Acquisitions". owler.com. Archived from the original on 28 March 2019. Retrieved 2 September 2019.
- ^ "Sony Pictures's Competitors, Revenue, Number of Employees, Funding and Acquisitions". owler.com. Archived from the original on 28 March 2019. Retrieved 29 March 2019.
- ^ "Sony/ATV's Competitors, Revenue, Number of Employees, Funding and Acquisitions". owler.com. Archived from the original on 5 May 2019. Retrieved 5 May 2019.
- ^ "Sony Music's Competitors, Revenue, Number of Employees, Funding and Acquisitions". owler.com. Archived from the original on 5 May 2019. Retrieved 5 May 2019.
- ^ "Grupo Televisa, S.A.B. (TV)". finance.yahoo.com. Archived from the original on 14 June 2018. Retrieved 14 June 2018.
- ^ "The BCCL empire—towering over the competition". www.thehoot.org/. Archived from the original on 24 August 2018. Retrieved 27 July 2018.