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Media Conglomerates

Media Conglomerates. -Some nations can influence and control their media greatly. In addition, powerful corporations also have enormous influence on mainstream media-. “We have no obligation to make history…. …We have no obligation to make art…. …We have no obligation to make a statement….

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Media Conglomerates

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  1. Media Conglomerates -Some nations can influence and control their media greatly. In addition, powerful corporations also have enormous influence on mainstream media-

  2. “We have no obligation to make history… …We have no obligation to make art… …We have no obligation to make a statement… …To make money isour only objective.” — Michael Eisner, CEO, The Walt Disney Co.

  3. The Top Ten Media Conglomerates • The Top Ten –according to the latest poles • AOL Time Warner • Disney • General Electric • News Corporation • Viacom • Vivendi • Sony • Bertelsmann • AT&T • Liberty Media

  4. Going Global… • Global conglomerates can at times have a progressive impact on culture • E.G. GOOGLE opening in china, it allowed the Chinese access to the open internet which is different from the compartmentalized and extremely biased, government controlled media • The global commercial-media system is radical in that it will respect no tradition or custom

  5. Milestones… Number of Year Leading Conglomerates 1983 1987 1990 1997 Today 50 29 23 10 5

  6. More Milestones… • In 1987 the biggest media merger in history was a $340 million deal • By 2000 AOL Time Warner’s $350 billion merged corporation was more than 1,000 times larger

  7. -Most citizens get their views and understandings of the world around them from the mainstream media-

  8. Disney • With the increasing size, owning the ABC news station, and enormous vertical integration, there have been increasing criticisms of Disney • From a business perspective, they have been very successful and implemented the most “appropriate” strategies to expand and grow

  9. Newspapers Galore • Defenders of narrowing control of the media point to the large numbers of media outlets available to the population • 1,700 daily papers • 10,000 radio and television stations • 11,000 magazines… and more -There may be a large number of outlets giving the appearance of diversity, but a concern is that so many are owned by one of the few media giants-

  10. “With great power comes great responsibility…” • There is an argument to be made that only big media have power and influence to cover large institutions that dominate modern life • But when big media is owned by big business, there is less criticism of big business or political issues in big government

  11. “… it’s a conspiracy …” • Unfortunately, the large numbers deepen the problem of excessively concentrated control • If the number of outlets is growing and the number of owners declining, then each owner controls even more formidable communications power

  12. “Small, independently owned papers routinely pull punches when covering local car dealers real estate, and industry… …Whatever its shortcomings and they are many… …only big media possesses the means to consistently hold big business and big government accountable.” — Dan Kennedy, Monopoly Money, Boston Phoenix, January 17, 2002

  13. The Quest for the Internet • The Internet is hailed as the new communications medium taking over from television eventually • While there are currently enormous problems in the “digital divide” and while it is still in its infancy, the Internet has allowed enormous amounts of information to be exchanged and be made available

  14. “Welcome to the Twilight Zone…” • Major web portals such as AOL look to “lock in” their audience to their sites and products to their customers • Furthermore, consolidations and media mergers such as that of AOL and Time Warner, have skewed the “playing field”

  15. The Times are Changing • 60 percent of all minutes spent online in the US dwindled 87 percent, from 110 in March 1999 to 14 in March 2001” due to successes in advertising and marketing as a key to overcome the barrier to online entry

  16. The Fantastic Four • They further point out that within the 14 companies, it is heavily skewed towards the top four • Key factors driving media consolidation in this way include • Mergers and acquisitions turning powerful companies into even more powerful media behemoths

  17. The Mainstream Revolution • The rise in blogging and other forms of social media on the Internet has enabled people to report more quickly about events • Local people are able to upload personal videos from mobile phones faster than mainstream journalists can report • Some journalists are concerned about their profession’s future, the impact of “citizen journalism” is going to have on them

  18. Conclusion….. Congratulations • Mainstream Media Conglomerates started forming and evolving as far back as 1983 • In less than twenty years what was 50 companies fighting and vying for power were consolidated into 10 • Of those 10 the top three consist of 60% of the market

  19. You win a BRAND NEW RECIEPT (You can claim reciept with next purchase of anything from any store at any time… good deal huh) • Major companies such as Disney and AOL have slowly “bought out” and merged with every major media company in the way • Until blogging, allowed everyone with Internet and a keyboard to post events as they happened

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