Key words:
- Media concentration: Concentration of media ownership is a process whereby progressively fewer individuals or organizations control increasing shares of the mass media.
- Conglomerates: A conglomerate is a multi-industry company
- Globalisation:the process by which businesses or other organizations develop international influence or start operating on an international scale.
- Horizontal Integration: is the process of a company increasing production of goods or services at the same part of the supply chain.
- Gatekeepers: information is filtered for dissemination, whether for publication, broadcasting, the Internet, or some other mode of communication. … Individuals can also act as gatekeepers, deciding what information to include in an email or in a blog.
- Regulation: Tax, government, police
- Deregulation: lack of tax, government, police
- Free market: an economic system in which prices are determined by unrestricted competition between privately owned businesses.
- Monopolies: A monopoly is a business that is the only provider of a good or service, giving it a tremendous competitive advantage over any other company that tries to provide a similar product or service.
- Mergers: A merger is an agreement that unites two existing companies into one new company.
Hesmondhalgh’s key ideas are:
- Hesmondhalgh discusses the way the cultural industries operate and explores their effect on audiences: “Of one thing there can be no doubt: the media do have influence.”
- He points out that societies with profitable cultural industries (e.g. USA, UK) tend to be dominated by large companies, have minimal government regulation and significant inequality between rich and poor.
- the idea that the largest companies or conglomerates now operate across a number of different cultural industries
- the idea that the radical potential of the internet has been contained to some extent by its partial incorporation into a large, profit-orientated set of cultural industries
major cultural organisations create products for different industries in order to maximise chances of commercial success.
Murdoch Empire
