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Megalomania in the Media

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Megalomania in the Media Megalomania is the best way to describe the corporatization and consolidation of the world’s media today. The majority of media outlets are owned by a handful of megalomaniacs who are obsessed with wealth and power. The world’s media is being concentrated and monopolized by fewer and fewer companies. These companies share the common agenda to take over the world. The merge of Comcast, Universal Studios, and the remaining assets of General Electric’s National Broadcasting Corporation (NBC), is one such example. This merge, like so many others can impact society in several ways. The Comcast- NBC Universal merger is on the most successful in recent times. Comcast, being one of the largest Internet Service Providers (ISP), and NBC Universal, being one of the largest media providers resulted in monopolization of the global media and technology markets. According to the International Directory of Company Histories, Comcast Corporation is one of the prominent cable, telecommunications and content providers in the world. Comcast has a customer base of 4.4 million with 783,000 cellular connections. Comcast is also partner to Sprint Corporation and Cox Communications Inc. It is associated with QVC Inc., Walt Disney, and Philadelphia basketball and hockey teams. Comcast is backed up by Microsoft Corporations as well (Steinberg, 2009). Comcast Cable is the nation’s largest video, high-speed internet, and phone provider to residential customers under the XFINITY brand. NBC Universal is one world’s leading media and entertainment companies. They own several news, entertainment, and sports cable networks. The NBC and Telemundo broadcast networks, television production, television station groups, Universal Pictures, and Universal Parks and Resorts. Their cable networks operate 15 national cable networks, 13 regional sports and news networks, and more than 60 international channels (Copps, 2013). Some popular networks include E!, Bravo, G4, MSNBC, and the Golf Channel. Their broadcast Television division operates networks that serve audiences in all 50 states. NBC Entertainment develops and schedules programming for prime-time, late-night, and daytime. NBC provides more than 30 hours of television news programming a week, including NBC Nightly with Brian Williams, Today, and Meet the Press. Some of the networks primetime newsmagazines include Dateline, and Rock Center with Brian Williams. NBC is the only broadcast news division with an affiliated cable channel, MSNBC which provides global, 24/7 coverage of news events (Steinberg, 2009). In addition to television, the Comcast Corporation is growing an online presence. XFINITY offers high-speed internet in addition to Wi-Fi. XFINITY.com/TV allows people to watch XFINITY cable television online wherever they are and whenever they want. They have increased their communication range by partnering with Skype and Verizon Wireless. NBC News Digital operates several online news sites including NBC News.com, NBC Latino.com, NBC Politics.com, Today.com, and Nightly News.com. They also own several digital media outlets including Daily Candy, Fandango, and iVillage (Copps, 2013). Comcast, with such a plethora of media outlets reaches millions of consumers in their homes, and on their mobile devices. There is no denying that consumers can get hundreds of channels on cable, and plug into thousands of websites. Due to corporatization and consolidation, people get their news and views from only a handful of media outlets, and therefore diversity suffers. This lack of meaningful competition and diversity in the marketplace means fewer diverse voices and fewer employment opportunities. For Example, the Comcast Corporation has thousands of media outlets, but they all represent only one opinion and point of view. The new consolidated Comcast Corporation is a media giant that is monopolizing the market. Media giants seek out the largest audience and advertising base, while stealing independent voices that are less able to sustain themselves financially. In addition, the vertical merge elements between Comcast and NBC Universal resulted in several negative impacts on society and the media market as a whole. Considering Comcast consisted of all broadband outlets, and NBC Universal was mostly television and cable, the merge is considered to be vertical because they were two different outlets/products that produced one major outlet/product (The cost of media consolidation, 2002). Comcast and NBC Universal were two companies operating at different levels within an industry supply chain who merged into one company, and then affiliated with suppliers such as Microsoft and Verizon to increase profitability. This merger prevented rivals from accessing news and video content permanently or temporarily. This may also make rivals pay a higher price for content or Comcast can provide them with low quality content. Once again, this dynamic may result in a monopoly and an inflated price to subscribers. The FCC noted that in recent trends delivery of content is gradually shifting from television to PC’s, tablets, and cellular phones. Today’s media market is being consolidated so rapidly, leaving just a handful of companies that control all aspects of the industry. What the world’s media needs is more diversity. Those who are aware of the megalomania in the media should call attention to its shortcomings. The media world today has no standards of honest, right, fair, decent, or responsible service. Their only goals are to monopolize the market and to take over the world. And they have no qualms about going to any means necessary to accomplish these goals.

References
Copps, M. J. (2013). The New Telecom Oligarchs. Nation, 296(16), 21-24.
Fravel, S. (2010). WHY NTCA IS CONCERNED about Comcast and NBC universal. Rural Telecommunications, 29(4), 34-34,37. Retrieved from http://ezproxy.stlcc.edu/login?url=http://search.proquest.com/docview/733023803?accountid=14081
Steinberg, B. (2009). Comcast play for NBC universal is a bet on future of advertising. Advertising Age, 80(38), 3-3,32. Retrieved from http://ezproxy.stlcc.edu/login?url=http://search.proquest.com/docview/208356412?accountid=14081
The cost of media consolidation. (2002, Apr 29). Business Week, , 130. Retrieved from http://ezproxy.stlcc.edu/login?url=http://search.proquest.com/docview/236830000?accountid=14081
Why a review of journalism? (2001). Columbia Journalism Review, 40(4), 50-51.Retrieved from http://ezproxy.stlcc.edu/login?url=http://search.proquest.com/docview/230352757?accountid=14081

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