Media conglomerate

From Wikipedia, the free encyclopedia
Jump to: navigation, search

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 around the world.[1]

According to the 2013 Fortune 500 list, The Walt Disney Company is America's largest media conglomerate in terms of revenue, with News Corporation (now News Corp & 21st Century Fox), Time Warner, CBS Corporation, and Viacom completing the top five.[2] Other major players are Comcast and Sony's Sony Corporation of America subsidiary.

Terminology

A conglomerate is, by definition, a large company composed of a number of smaller companies engaged in seemingly unrelated businesses.

It is questionable whether media companies are unrelated, as of 2007. 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.[citation needed]

Criticism

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 United States 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.

Notable examples

Comcast 21st Century Fox Walt Disney Co. CBS Corp. Viacom Time Warner Sony Corp. of America
Movie production studio Universal Studios 20th Century Fox Walt Disney Studios CBS Films Paramount Motion Pictures Group Warner Bros. Sony Pictures
Theme park resorts Universal Parks and Resorts Twentieth Century Fox World Walt Disney Parks and Resorts Nickelodeon Suites Resort Orlando Parque Warner Madrid (5%)
Broadcast television network NBC, Cozi TV,
Telemundo
Fox, MyNetTV, MundoFox, Movies! ABC, LWN CBS, The CW (50%) The CW (50%) GetTV
Cable channels NBCUniversal Cable FX Networks Disney-ABC Television Group TVGN (50%), Showtime Networks Viacom Media Networks Turner Broadcasting System, HBO Sony Pictures Television
News, political, business channels MSNBC, CNBC, Weather Channel (co-owned with The Blackstone Group & Bain Capital) Fox News, Fox Business Fusion (50%) CNN/HLN
National sports networks NBC Sports Group, NHL Network (15.6%) Fox Sports ESPN Inc. CBS Sports Turner Sports
Record label Fox Music Disney Music Group CBS Records WaterTower Music Sony Music
Publishing VICE (magazine) (5%) Marvel Comics, Disney Publishing Worldwide Simon & Schuster DC Comics, Time, People, Sports Illustrated
Internet iVillage, Fandango, Hulu (32%) Fox Sports Digital Media, Hulu (36%) Disney Interactive Media Group, Hulu (32%) CBS Interactive, CNET, MTV New Media Flixster Sony Online Entertainment

Other examples

Some of the most well-known media conglomerates include:

See also

Notes

  1. ^ Moglen, Eben, Michael Pertschuck, and Scott Sherman, (1999). "Editorials" (Nation, 269: 18). p. 12. ISSN: 00278378
  2. ^ - Fortune 500