Media Consolidation

Media Consolidation - Media Consolidation The government...

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Media Consolidation The government has also regulated ownership of media outlets to ensure that no one broadcaster monopolizes the market. Since the 1980s, however, the government has loosened restrictions on media ownership, and Congress passed the Telecommunications Act in 1996 to allow companies to own even more media outlets. Due to the loosening of ownership restrictions, more and more media outlets are falling under the control of a few giant corporations, a tendency called media consolidation. The Hearst, Knight Ridder, and Gannett corporations own most of the nation’s newspapers, whereas Clear Channel Communications owns many radio stations. Large companies also own the major networks and other television stations. The Walt Disney corporation, for example, owns ABC and ESPN, along with the Disney Channel, and Viacom owns CBS and MTV. Rupert Murdoch’s Media Corporation, meanwhile, owns all of the Fox channels, several radio networks, satellite television providers, and newspapers in many countries. And Time-Warner owns dozens of magazines, including
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