EOTO Post

 False Information 

Media Consolidation

Media Consolidation is the concentration of media ownership. News sources are falling in to the hands of less and less companies. This is when one company takes over multiple different companies. This is very unfortunate because fewer individuals or organizations are control increasing shares of mass media. Giant corporations own more and more of our news media everyday because of media consolidation. So many people everyday are losing there jobs because of media consolidation. Im the 1970s the US government tried to save media diversity and prevent media consolidation from happening. They put rules in place where corporations are discouraged from owning to manny newspapers or television stations. Now since we get our news online there is still media consolidation today. In 2016 five huge companies owned 37% of local television stations. Media consolidation is cutting journalists from there  jobs and gutting newsrooms across the nation. The FCC has not done anything to expand media consolidation and ownership.  Companies like Comcast are being affected so bad that they would rather spend billions of dollars to kill off there competition then enhance and build their networks. In the media industry there is a state of oligopoly or monopoly. 

In 1983, 90% of American media was owned by 50 companies. There are six media giants controlling 90% of what we read, watch, and listen too. GE, News Corp, Disney, Viacom, Time Warner, and CBS have taken over so many different companies. This consolidation of ownership and power in media and removes vital elements from the marketplace. The entertainment industry gets extremely hurt due to media consolidation. 232 media executives control the information diet of 277 million Americans. That is 1 media executive to 850,000 subscribers.  The consolidation of mainstream American media is a tragedy for this country. We used to get angry about how less then a hundred companies owned a lot of what we read and listen too. Now hat number decreased to under ten which is a huge problem for all media companies. Even the newspapers we read are part of some national chain. The local news channels are now owned by giant corporations who's uses those channels as a product of revenue. Also the radio we listen to is manipulated by multiple companies who tweak every tune before it is played.