The media has always been an influential part of American society, whether it be the turn of the century newspapers turning the people against big business or now radio hosts with far too much to say, and a far too little amount of rational thoughts.
As of today, there are five media conglomerates that own a vast majority of all sources of news available to the american public. They are Comcast, Viacom, News Corporation, Time Warner, and the good old Walt Disney Company.
These are companies that together have net worth in the trillions. Through mergers and hostile takeovers, the concentration of media control has become what is termed a Media Oligopoly.
Because of the inability of any other companies to be allowed into the arena, the capitalistic, market based competition is absent. This of course allows these Goliaths of media to do whatever they please, which causes innovation in the market to be slower than it would be if competition drove the industry.
While I do believe that the media generally works to make a fair and balanced approach to the news, there have been numerous accounts of biased reports. Many think that media corruption is a new idea that was brought along with the coming to the internet age, but as proof of the power of the media influences as far back as the 1920s when William Randolph Hearst allegedly used his empire of newspapers to sway public opinion against the production of Hemp in the United States.
There is no doubt in my mind, however, that the media definitely has the capabilities and the power to do and say anything they want, and it is up to the American people to be ever vigilant against misleading stories by our national media conglomerates.
As of today, there are five media conglomerates that own a vast majority of all sources of news available to the american public. They are Comcast, Viacom, News Corporation, Time Warner, and the good old Walt Disney Company.
These are companies that together have net worth in the trillions. Through mergers and hostile takeovers, the concentration of media control has become what is termed a Media Oligopoly.
Because of the inability of any other companies to be allowed into the arena, the capitalistic, market based competition is absent. This of course allows these Goliaths of media to do whatever they please, which causes innovation in the market to be slower than it would be if competition drove the industry.
While I do believe that the media generally works to make a fair and balanced approach to the news, there have been numerous accounts of biased reports. Many think that media corruption is a new idea that was brought along with the coming to the internet age, but as proof of the power of the media influences as far back as the 1920s when William Randolph Hearst allegedly used his empire of newspapers to sway public opinion against the production of Hemp in the United States.
There is no doubt in my mind, however, that the media definitely has the capabilities and the power to do and say anything they want, and it is up to the American people to be ever vigilant against misleading stories by our national media conglomerates.
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