Tuesday, February 14, 2012

Who Owns the Media? Part 1

Does anyone know? Can anyone answer?

In the 1990’s many companies merged to form media conglomerates thus allowing the media and cultural industries to emerge with immense force. There were ten big media industries, and then there were eight … and now it’s?...... six!!! The media is run by six major conglomerates around the world. These moguls all own several newspapers, publishing houses, record labels and movie production companies. This to me showcases the highest levels of selfishness and greed. As the only reason why these mergers even happened, was because the cultural industry is a business. The media is a business that is purely centred on profits.

Who runs the world?? Not Girls!!! (Look what Beyonce did?) Money, Money, Money!!!

This reduction or trend from multiple to single ownership, allowed a concentration of control of what people hear, read and see globally. These media heads control every aspect of the news presented to the public on a daily basis. They determine what information is important and which ones aren’t. These conglomerates filter the media content to express what they want, meaning that they are sending our intellectual processes in a particular direction. According to McCombs and Shaw the press are agenda setters, they do not tell us what to think about, but they do tell people what and whom to think about” (Biagi 374).

A typical example was used in the class presentation by the group with Oswin. The reason for George Bush’s administration to raid Iraq was to find weapons of mass destruction. However, documentaries released after suggested that they were looking for oil. The media was used in two different ways, initially they were used to support Bush’s decision, and get Americans on board. On the other hand, the film opposed and challenged the reasons given, making Americans and world citizens question Bush’s intent.

In order, to decipher messages transmitted by the media it is essential that we are aware of who owns these different TV and radio stations, and publishing agencies. It is important that we understand, that the messages we receive from the media, isn’t actually what transparent as we once thought.

Statistics showing the revenues of the major conglomerates in the Cultural Industries - in particular the Media and Broadcasting Industry.

The Big six: Ownership Chart

Revenues in 2011

General Electric (GE)

$143.60 Billion

Walt Disney Company

$40.96 Billion

News Corp

$33.405 Billion

Time Warner

$28.97 Billion

Viacom

$15.4 Billion

CBS Corporation

$14.2 Billion


SOURCES: Yahoo! Finance. Key Statistics. 2011.

Biagi, Shirley. Media/Impact: An Introduction to Mass Media. 7th ed. USA: Thomson Wadsworth, 2005. Print.


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