Family owners have been increasingly divided between those wanting to ...
Citations (1)
- Manufacturing Consent: The Political Economy of the Mass Media whole source · open book
Family owners have been increasingly divided between those wanting to take advantage of the new opportunities and those desiring a continuation of family control, and their splits have often precipitated crises leading finally to the sale of the family interest.19 This trend toward greater integration of the media into the market system has been accelerated by the loosening of rules limiting media concentration, cross-ownership, and control by non-media companies.20 There has also been an abandonment of restrictions—previously quite feeble anyway—on radio-TV commercials, entertainment-mayhem programming, and “fairness doctrine” threats, opening the door to the unrestrained commercial use of the airwaves.21 TABLE 1–1 Financial Data for Twenty-four Large Media Corporations (or Their Parent Firms), December 1986 COMPANY TOTAL ASSETS ($ MILLIONS) PROFITS BEFORE TAXES ($ MILLIONS) PROFITS AFTER TAXES ($ MILLIONS) TOTAL REVENUE ($ MILLIONS) Advance Publications (Newhouse)1 2,500 NA NA 2,200 Capital Cities/ABC 5,191 688 448 4,124 CBS 3,370 470 370 4,754 Cox Communications2 1,111 170 87 743 Dow Jones & Co.
chapter: 1 A Propaganda Model