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Beginning with the first of the mega media mergers, Capital Cities buying ABC in 1986, and then after the 1996 Telecommunications Act, which opened the floodgates, the trend has been for large corporations to buy media and broadcast companies. According to the FCC there have been over 1000 broadcast deals in the last ten years. On the outside this appears to be a fairly benign offshoot of late 20th century capitalism's tendency of merger, acquisition, and hostile takeovers, but further review reveals that the conglomeration of media outlets hurts consumers by taking choice out of their hands and putting it into the hands of corporations. The media giants have become neglectful in their duties to serve a "public interest". Instead they serve their own narrow interest. These narrow interests do serve the stockholders, theoretically of which anyone can become, but this is not the traditional position that media outlets should hold.
Broadcast and print media represent their own spheres of public service and expectations. The mainstream media is expected to be somewhat unbiased and objective in reporting on current issues, (within the range of the political leanings of their editors).
Corporate pressure to squeeze out every penny in earnings has forever changed the look of news reporting. Gone are the days of respected newsmen such as Walter Cronkite and Edward R. Murrow. Gone are the days of honest, hard-hitting exposes of large corporations and government. Today news department's budgets are repeatedly slashed, the news has become an unwanted child that has been deemed less important than earning that extra dollar hawking the movies and products of the corporate parent. The news has become an ever-shrinking bit player in huge corporate machines. This pressure to cut costs and increase earning has ensured only news that is the best marketed will reach your home, not the most thoroughf
Quotes talked about in this paper
- ABC, said in an interview in September of 1998 "I would prefer ABC not to cover Disney. I think it's inappropriate." ...
Terminology mentioned in this research paper
media outlets, mainstream media, print media, Mass Media, telephone service,
Names included in this term paper
1999 p J1 Lexis/Nexis Landay, Michael Eisner, Walter Cronkite, Peter, Edward R. Murrow, Bob Costas, Viet Nam,
Organizations mentioned in this essay
Journalism Review, FCC, Time, Chinese government,
Locations included in this research paper
Chinas, America, Taiwan,
Companies included in this paper
ABC, CBS, Disney, Time Warner, USA Today, NBC, General Electric, Warner Brother, CNN, GE,
Keywords talked about in this paper
corporations, media outlets, 1996 telecommunications act, reporting, parent, Columbia Journalism Review, parent company, investigative reporting, air time, human rights, mergers, late 20th century, print media, human rights violations, mainstream media, high definition television, corporate, a story, Disney, Mass Media, public interest, hostile takeovers, Walter Cronkite, Time Warner, Disney World, market position, Michael Eisner, child molestation, Time magazine, large, political process, forever changed, public forum, Capital Cities, short time, damning report, tobacco companies, Viet Nam, tobacco company, bit player, Bob Costas, human dignity, corporate america, phone companies, faulty products, USA Today, Pokemon, current issues, working conditions, General Electric,