Media conglomerate

A media conglomerate describes companies that own large numbers of companies in various mass media such as television, radio, publishing, movies, and the Internet. It is also referred to as media institutions and media groups.

As of 2009, in terms of revenue, The Walt Disney Company is the world's largest media conglomerate, with Time Warner and News Corporation ranking second and third respectively.

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. 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.

Examples

Some of the most well-known media conglomerates include:

• Advance Publications
• American Media
• Belo
• Bertelsmann
• Bonnier
• Cablevision
• Canwest Global
• Clear Channel Communications
• CTVglobemedia
• CBS Corporation (owned by National Amusements)
• Comcast Corporation
• Fininvest
• Gannett Company
• General Electric (through it's NBC Universal subsidiary)
• Hearst Corporation
• Hubbard Broadcasting Corporation
• Lagardère Media
• Liberty Media
• The New York Times Company
• News Corporation
• Organizações Globo
• Grupo PRISA
• Rogers Communications
• Schibsted
• Sinclair Broadcast Group
• Sony
• E. W. Scripps Company
• Time Warner
• Grupo Televisa
• The Times Group (distinct from Times Newspapers of News Corporation)
• Tribune Company
• Viacom (owned by National Amusements)
• Village Voice Media
• Vivendi (through it's own media interests, as well as NBC Universal)
• The Walt Disney Company
• The Washington Post Company
• World Wrestling Entertainment

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.

See also

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