This document provides an introduction to media institutions, including definitions of key terms like conglomerate and cross-media ownership. It discusses the major media conglomerates - The Walt Disney Company, News Corp, and Time Warner - and how they have acquired numerous subsidiaries across television, film, publishing, and other media. The document also addresses criticisms of increasing media consolidation, such as reduced diversity and competition as a small number of large conglomerates come to dominate the media industry globally.
1. INTRODUCTION TO MEDIA INSTITUTIONS Lesson Objectives: To be able to identify and describe a range of media institutions, using appropriate terminology.
7. Major Media Institutions In terms of revenue The Walt Disney Company is the biggest media conglomerate. It’s revenue in 2010 was $38 billion News Corp was the second largest with revenue of $32 billion. Time Warner is the third largest media conglomerate with revenue of $25 billion.
