Concept

Media conglomerate

Summary
A media conglomerate, media company, mass media conglomerate, mass media company, media group, media institution, or media concessionaire is a company that owns numerous companies involved in mass media enterprises, such as music, television, radio, publishing, motion pictures, theme parks, or the Internet. According to the magazine The Nation, "Media conglomerates strive for policies that facilitate their control of the markets around the world." A conglomerate is a large company composed of a number of companies (subsidiaries) engaged in generally unrelated businesses. Some media conglomerates use their access in multiple areas to share various kinds of content such as: news, video and music, between users. The media sector's tendency to consolidate has caused formerly diversified companies to appear less diverse to prospective investors in comparison with similar companies that are traded publicly and privately. Therefore, the term media group may also be applied, however, it has not yet replaced the more traditional term. Concentration of media ownership Critics have accused the large media conglomerates of dominating the media and using unfair practices. During a protest in November 2007, critics such as Jesse Jackson spoke out against consolidation of the media. This can be seen in the news industry, where corporations refuse to publicize information that would be harmful to their interests. Because some corporations do not publish any material that criticizes them or their interests, media conglomerates have been criticized for limiting free speech or not protecting free speech. These practices are also suspected of contributing to the merging of entertainment and news (sensationalism) at the expense of the coverage of serious issues. They are also accused of being a leading force behind the standardization of culture (see globalization, Americanization) and are frequently criticized by groups that perceive news organizations as being biased toward special interests of the owners.
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Related concepts (16)
Bertelsmann
The Bertelsmann SE & Co. KGaA, commonly known as Bertelsmann (ˈbɛʁtl̩sˌman), is a German private multinational conglomerate corporation based in Gütersloh, North Rhine-Westphalia, Germany. It is one of the world's largest media conglomerates and is also active in the service sector and education. Bertelsmann was founded as a publishing house by Carl Bertelsmann in 1835. After World War II, Bertelsmann, under the leadership of Reinhard Mohn, went from being a medium-sized enterprise to a major conglomerate, offering not only books but also television, radio, music, magazines and services.
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Conglomerate (company)
A conglomerate (kəŋˈɡlɒmərət) is a type of multi-industry company that consists of several different and unrelated business entities that operate in various industries under one corporate group. A conglomerate usually has a parent company that owns and controls many subsidiaries, which are legally independent but financially and strategically dependent on the parent company. Conglomerates are often large and multinational corporations that have a global presence and a diversified portfolio of products and services.
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