Some nations can influence and control their media greatly. In addition, powerful corporations also have enormous influence on mainstream media.
In some places major multinational corporations own media stations and outlets. Often, many media institutions survive on advertising fees, which can lead to the media outlet being influenced by various corporate interests. Other times, the ownership interests may affect what is and is not covered. Stories can end up being biased or omitted so as not to offend advertisers or owners. The ability for citizens to make informed decisions is crucial for a free and functioning democracy but now becomes threatened by such concentration in ownership.
The idea of corporate media itself may not be a bad thing, for it can foster healthy competition and provide a check against governments. However, the concern is when there is a concentration of ownership due to the risk of increased economic and political influence that can itself be unaccountable.
Media cross-ownership is the ownership of multiple media businesses by a person or corporation. These businesses can include broadcast and cable television, radio, newspaper, book publishing, video games, and various online entities. Much of the debate over concentration of media ownership in the United States has for many years focused specifically on the ownership of broadcast stations, cable stations, newspapers and websites. Meaning, that when one organization owned any two of these media outlets, that organization was involved in "cross-ownership."
The Big 6
1. General Electric
Which has media outlets such as NBC and Telemundo, Universal Pictures, Focus Features, 26 television stations in the USA and cable networks MSNBC, Bravo, CNBC, The Weather Channel and Syfy. GE also owns 80 percent of NBC Universal. As of 2011, GE's share in these companies has been sold to Comcast, who themselves own Versus, style., G4, E!, Comcast SportsNet, the Philadelphia 76ers and Philadelphia Flyers. The company operates through four segments: Energy, Technology Infrastructure, Capital Finance and Consumer & Industrial
2. Walt Disney Company
Is the largest media conglomerate in the world in terms of revenue. Founded on October 16, 1923, by Walt and Roy Disney as the Disney Brothers Cartoon Studio, Walt Disney Productions established itself as a leader in the American animation industry before diversifying into live-action film production, television, and travel. Taking on its current name in 1986, The Walt Disney Company expanded its existing operations and also started divisions focused upon theatre, radio, publishing, and online media. In addition, it has created new divisions of the company in order to market more mature content than it typically associates with its flagship family-oriented brands.
The company is best known for the products of its film studio, the Walt Disney Motion Pictures Group, and today one of the largest and best-known studios in Hollywood. Disney also owns and operates the ABC broadcast television network; cable television networks such as Disney Channel, ESPN, A&E Television Networks, and ABC Family; publishing, merchandising, and theatre divisions; and owns and licenses 14 theme parks around the world. The company has been a component of the Dow Jones Industrial Average since May 6, 1991. An early and well-known cartoon creation of the company, Mickey Mouse, is the official mascot of The Walt Disney Company.
3. News Corporation
News Corp is an American multinational media conglomerate. It is the worlds second largest media conglomerate in terms of revenue. The companys chairman and chief executive is Rupert Mordoch. Holdings include: the Fox Broadcasting Company; television and cable networks such as Fox, Fox Business Channel, National Geographic and FX; print publications including the Wall Street Journal, the New York Post and TVGuide; the magazines Barron's and SmartMoney; book publisher HarperCollins; film production companies 20th Century Fox, Fox Searchlight Pictures and Blue Sky Studios; numerous websites including MarketWatch.com; and non-media holdings including the National Rugby League.
4. Time Warner
holdings including: CNN, the CW (a joint venture with CBS), HBO, Cinemax, Cartoon Network, TBS, TNT, America Online, MapQuest, Moviefone, Warner Bros. Pictures, Castle Rock and New Line Cinema, and more than 150 magazines including Time, Sports Illustrated, Fortune, Marie Claire and People.
5.Viacom
Holdings include: MTV, Nickelodeon/Nick at Nite, VH1, BET, Comedy Central, Paramount Pictures, Paramount Home Entertainment, Atom Entertainment, and music game developer Harmonix. Viacom 18 is a joint venture with the Indian media company Global Broadcast News.
6. CBS Corporation
Owns the CBS Television Network, CBS Television Distribution Group, the CW (a joint venture with Time Warner), Showtime, book publisher Simon & Schuster, 30 television stations, and CBS Radio, Inc., which has 130 stations. CBS is now the leading supplier of video to Google’s new Video Marketplace.