Time Warner

Powerful Essays
Time Warner

In 1989, the largest Media Corporation was formed. The integration of Time Inc. and Warner communications produced
Time Warner, which in 1996 with the acquisition of Turner broadcasting, regained it's status from Disney as the largest media corporation in the world.
The company right now, with over 200 subsidiaries world- wide, is becoming fully global with it's profits from the
USA falling, and it's profits throughout the world rising.
Globalisation is proving to be Time Warner's major asset in beating other competition to the World market.
Currently, Time Warner has interests in many different business fields. Music accounts for a large proportion of its income, while not far behind are its cable systems, entertainment, films, video and television holdings. But, the company has also centred its resources and invested in the global media, producing programmes and channels for countries around the world, which in turn has proven to be a very lucrative area of growth. Time Warner in general has become a 'major force in virtually every medium and on every continent';
So then, why should a company like Time Warner be a threat to the public, and something which all of us citizens around the World should be aware of ? Isn't Time Warner just a success of capitalism ? A successful company, which employs thousands of people and makes massive turnovers, while at the same time advancing the cause of the global market and promoting commercialism doesn't seem like a thing of public concern. In the World village today, why should we need thousand's upon thousand's of small independent company's and tv stations and newspaper's, when we could have ten large conglomerates who would control everything from production to sales to distribution ? The way in which thing's have developed over the past ten years, that scenario or fiction might even become fact or reality. So why should it bother the people of the World
To begin answering that question, we need to go back a hundred years or so and look at the work of Karl Marx and his interpretations of 'socio-economic order produced by industrial capitalism'; . Marx believed that the unequal distribution of wealth and the way in which the capitalist class controlled this wealth through the possession of raw materials, means of distribution and labour, enabled them to make...

... middle of paper ... maintaining its role as a public broadcaster, and given more financial aid from the government. Advertising could be controlled more vigorously and regulated, particularly during children's programming (As in Sweden).
A more drastic approach would be the breaking up of the vertically integrated oligopolies, and establishing more competitive markets. In general, any change must strive to serve all of societies needs and interests, which includes audiences and broadcasters, and not only advertisers and media moguls.
So, in the end are oligopolies, vertical integration and concentration matters of public concern ? Of course they are. Matters of ownership of the media and the means of production, distribution and sales are too important to be ignored. In the interests of holding on to a healthy democracy, diversity has to be achieved and maintained. As
I have tried to show oligopolies and vertically integrated media industries are just as dangerous as state run ministries that have a monopoly over information.
'Concentrated media power is political and social power';.
Thankfully, the World hasn't yet become like the latest offering from James Bond 'Goldeneye';.
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