{"id":12,"date":"2011-12-15T21:41:04","date_gmt":"2011-12-15T21:41:04","guid":{"rendered":"https:\/\/bejone03.expressions.syr.edu\/trf594\/?p=12"},"modified":"2011-12-22T19:23:53","modified_gmt":"2011-12-22T19:23:53","slug":"big-media","status":"publish","type":"post","link":"https:\/\/bejone03.expressions.syr.edu\/trf594\/2011\/12\/15\/big-media\/","title":{"rendered":"Big Media"},"content":{"rendered":"
by Matthew Cohn<\/pre>\n
In today’s media marketplace, the industry is dominated by enormous companies whose assets include most of the nation’s leading television and radio stations, all of the largest broadcast and cable networks, and many of the largest studios and production companies. Some of these big media companies have been around since before television, and all have grown through acquisitions. These companies that are considered “Big Media” own and operate many smaller companies, which are all independently managed. It is likely that most of the consumers these companies target don’t even know who owns what or how big these companies truly are.<\/p>\n
What is Big Media?<\/h2>\n
The term \u201cBig Media\u201d is used to describe the media industry, which is dominated by \u201cBig Media\u201d companies. All of the major companies prospered through acquisitions, otherwise known as conglomeration. A media conglomerate owns companies in various mass media such as TV, Film, Radio, Publishing, and Internet. It has become necessary for the largest media companies to own a major asset associated with every aspect of the media business. A fully integrated media conglomerate would likely include at least one motion picture and television production studio, one or more cable or broadcast networks (for distribution), a combination of print and web assets (for promotion), and a range of local media, including television stations, radio stations, newspapers, and other related assets. Of course, large media companies routinely do business with one another, but by doing business within the same conglomerate, it creates a synergy that increases the amount of revenue. A TV series can be produced, distributed, and syndicated all under the same corporate umbrella. Vertical Integration and Synergy are two common terms associated with big media, both pretty much summing up the way a company can \u201cvertically integrate\u201d its product across different platforms to create a \u201csynergy\u201d within a company.<\/p>\n
Rules Governing Big Media<\/h2>\n
Large media companies are controlled similar to other large U.S. corporations. In regard to content and advertising, some of these regulations are based upon law and others are general guidelines self-imposed and self-regulated by each media industry. For a complete list of Broadcast Ownership Rules, click here<\/p>\n
Financial Interest and Syndication Rules, otherwise known as Fin-Syn rules, were rules put into effect by the Federal Communication Commission (FCC) in 1970. Basically, the FCC thought the big media companies had too much control over the television industry, thus creating unfair competition in the market. For example, a network could only broadcast shows created by its own studio, even if there were better options in the marketplace. At the time, there were only three broadcast networks and the FCC didn\u2019 t want them to monopolize the market. Under the Fin-Syn rules, none of the networks could broadcast any prime-time programming in which they had a financial stake or interest in. Thus, many of the big media companies were forced to sell or let go of their production studios. In 1993, the Fin-Syn rules were abolished, which led to where we are today. For more on the Fin-Syn history, click here<\/p>\n
The Big Media Companies<\/h2>\n
The largest media companies today are known as \u201cThe Big 6.\u201d All have major assets in the TV, Film, Internet, and Publishing industries.<\/p>\n