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COMPLETE Survey of Mass Communication Notes - Part 9 (got a 90% in the course)

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Boston College
COMM 1020

8/3/13 Lecture 9 Patterns of Ownership • 3. Conglomeration o Merging media companies with larger, multi-national corporations not necessarily in media business  Example: General Electric purchased NBC Universal Summary • Media operates under commercial mandate: o 6 distinctive features of media industries o Three main ways media industries respond to those features o Four related patterns of ownership • Function of economic, political, and cultural systems of specific historical moments… Arguments FOR Market-Driven Media • Free market balances out (“invisible hand”) o It will adjust itself when open to competition  The invisible hand will guide the market when left along and open o Will provide media content consumers want • Deregulation has increased the number of media outlets o Consumers have more choices  Letting the market do what it wants. The markets that succeed, succeed because consumers CHOSE them • Market Populism o Concept that equates private markets with freedom and democracy o Faith in the “free market”  Free markets were quintessential in having a free democracy  Free market is the great equalizer and will ultimately balance out and serve the needs of all parties the best Arguments AGAINST Market-Driven Media • Faith in the free market has
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