COMM1020 Lecture Notes - Narrowcasting, Fairness Doctrine, Free Market
Document Summary
Patterns of ownership: conglomeration, merging media companies with larger, multi-national corporations not necessarily in media business. Summary: media operates under commercial mandate, 6 distinctive features of media industries, three main ways media industries respond to those features, 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 , it will adjust itself when open to competition. The invisible hand will guide the market when left along and open: will provide media content consumers want, deregulation has increased the number of media outlets, consumers have more choices. The markets that succeed, succeed because consumers chose them: market populism, concept that equates private markets with freedom and democracy, 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.
