The suggestion that a large amount of power fall into the hands of a small number of individuals is reference to the consolidation of media power over the last 30 years. Worldwide media has been systematically concentrated into a small amount of companies (Browne, 2016). 50 media companies once controlled the large majority of media outlets in 1983, since then though acquisitions and mergers there are now only five companies distribute the largest share of media.
Determining media ownership can be a complex task, one conglomerate can own companies that provide media in many formats. For example, News-Corp owns a variety of different newspapers, magazines, book publishers, terrestrial and satellite television channels and film studios worldwide. This means individuals could pick up a paper and not know it was
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In addition to synergies another strategy is to control all creative and physical possess in the production of media, evidence of this is Warner Bros, they can buy a script only entrusting it too companies they own to film, produce and distribute the finished product. Allowing Warner Bros to profit from all stages, this form of market dominance is described as vertical integration. With the current global reach of conglomerates to dominate in this way it is easy to see how media concentration has occurred and how media companies have managed to diversify into other markets, this is seen by Virgin that not only provide media but financial services, healthcare and spaceflight (Just, 2009). However, these conglomerates are under threat from new media platforms and technological convergence. This means that the tech giants like Apple and Google can produce the technology that will allow you to view media but will always give the media they control an