Media Ownership: Why It Matters and Why You Should Care

Did you know that a small number of companies own most of the media we consume? In fact, a recent study showed that just six corporations control 90% of the world's media.

This is a matter worth discussing, as it poses serious implications for media consumers and what it means for the future of media. 

This blog post will discuss why media ownership matters, and why you should care about who owns the media you are consuming.

Why should you care about Media Ownership?

While it may not seem like it, media ownership does matter and you should care. The reason why is that the media is a powerful tool that can be used to influence public opinion, culture, and even generations of people. This influence has the power to affect our world at large and even down to our day-to-day lives.  

If you're wondering how this works, let's take an example:

 Let's say that Corporation A owns Newspaper B.

Now, let's say that Corporation A also owns Corporation C, which owns Television D.

If Corporation A wants to influence public opinion with a specific view point (anything other than the reality of the situation), it can do so by governing what is published in Newspaper B, leading to that same viewpoint published by Corporation C thereby influencing what is broadcast on Television D.

This one entity, Corporation A, has influenced at least three different media publications with a perception they decided to choose. Depending on the viewership of each publication, this same perspective has possibly influenced at least millions of people!

This is a very simplified example, but it illustrates how media ownership plays a role in the messages we hear and how it shapes our culture.

It's important to note that I'm not saying all media conglomerates are unethical or pushing an agenda. In fact, many of them produce high-quality content that keeps us informed on the truth of what’s going on in our world today. 

The problem is, when a small number of entities own most of the media, it can lead to a lack of competition, a loss of integrity in journalism, and a loss of diversity in the media landscape in terms of viewpoint.

Placing the power of public influence into the hands of just a few can be an issue if their intentions are not in line with what the media is actually for, which is to keep all of us informed on the Facts.

Who owns the media?

In the United States, media is owned by a few large companies. These companies can be called media conglomerates. A media conglomerate is a company that owns multiple media outlets.

For example, Comcast owns NBCUniversal, which includes the NBC network, cable channels like USA and Bravo, and the Universal Studios movie studio.

Time Warner is another media conglomerate. It used to own CNN, but AT&T bought it in 2018. AT&T also owns HBO, Warner Bros, and Turner Broadcasting.

Rupert Murdoch’s News Corp is another media giant. It owns the Fox network, as well as the Wall Street Journal and The Times of London.

These are examples of only three of the big players in the media industry.  There are many more media conglomerates out there, many with its own vested interests.

What this means is that the media is not always impartial. The news we see and hear can be biased, depending on who owns the media outlet and what they believe is the truth.

To play devil's advocate, one could say that media bias is not always a bad thing. It can be used to create discussion and healthy debate, encouraging people to really think about their stance on a particular topic.

In this instance, the publication should make it clear to their viewers of their intention.

Regardless, its important to be mindful of who owns and administers the media that we consumer, and determine if they are doing what is expected of them, which is to communicate the facts.

Media Acquisitions

The media landscape is constantly changing, and it can be hard to keep up with who owns what. Here's a quick rundown of some of the most recent media acquisitions:

• AT&T acquired Time Warner for $85 billion in 2018. This merger created one of the largest media companies in the world.
• In 2018, Comcast acquired a majority stake in Sky for $39 billion. This made Comcast the largest pay-tv provider in the world.
•  In 2019, Walt Disney Company acquired 21st Century Fox for $71 billion. This made Disney the largest studio in Hollywood.

Acquisitions like these are becoming more and more common, and they are reshaping the media landscape.

As these large corporations grow, they are getting closer and closer to having a monopoly on the media. Thus, having a monopoly on the influence of society.

Do you think this is a problem? I would love to hear your thoughts on this topic.

Thank you for reading!