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Media Conglomerates

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The Big Ten media companies have gained considerable criticism during their seemingly endless mission to consolidate all news and entertainment. What are the pros and cons of this business phenomenon? …

The Big Ten media companies have gained considerable criticism during their seemingly endless mission to consolidate all news and entertainment. What are the pros and cons of this business phenomenon? And what does consolidation mean for the stories you may (or may not) be able to write as a journalist? This lecture raises these questions.

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  • 1. MEDIA CONGLOMERATES WHAT THEY ARE, WHY THEY’RE BAD
  • 2. WHAT IS A CONGLOMERATE?
    • kuh n-glom-er-it
    • a corporation consisting of a number of subsidiary companies or divisions in a variety of unrelated industries, usually as a result of merger or acquisition.
  • 3. What is a moNOPOLY?
    • muh-nop-uh-lee
    • exclusive control of a commodity or service in a particular market, or a control that makes possible the manipulation of prices.
  • 4. The BIG TEN
  • 5. CONSEQUENCES OF CONGLOMERATES
    • Media become loyal to sponsors, rather than to the public interest.
    • For the general public, there are fewer diverse opinions and voices available.
    • Only a few companies represent the interests of a minority elite control.
    • For minorities and others, fewer opportunities are available for voicing their concerns and reaching the public.
    • Healthy, market-based competition is absent, leading to slower innovation and increased prices.
  • 6. THE NEW MEDIA REVOLUTION
    • Websites, blogs and wikis have democratized the process of information dissemination.
    • This is called citizen journalism or citizen media.
    • Citizen media take audiences out of the traditional media and weaken the role of information professionals.
  • 7. WHO OWNS THE BIG CORPORATIONS?