This is an accepted version of this page
17-654: Primedia is a South African media group , headquartered in Sandton , Johannesburg . Primedia was established in 1994 and its listing on the JSE Securities Exchange was completed in April 1995. Primedia remained listed on the JSE until 1 October 2007, when its listing was terminated following a successful private equity transaction (scheme of arrangements). The Primedia Group is backed by Mineworkers' Investment Company (MIC), Ethos,
34-445: A number of companies ( subsidiaries ) engaged in generally unrelated businesses. Some media conglomerates use their access in multiple areas to share various kinds of content such as: news, video and music, between users. The media sector's tendency to consolidate has caused formerly diversified companies to appear less diverse to prospective investors in comparison with similar companies that are traded publicly and privately. Therefore,
51-458: Is a company that owns numerous companies involved in mass media enterprises, such as music , television , radio , publishing , motion pictures , video games , amusement park , or the Internet . The weekly magazine The Nation commented, "Media conglomerates strive for policies that facilitate their control of the markets around the world." A conglomerate is a large company composed of
68-444: Is an annual ranking of the top 2000 public companies in the world, published by: sales, profit , assets and market value . The list has been published annually since 2003. Forbes Global 2000 as of 2023: In 2023, the ten largest companies as calculated by this method were: In 2022, the ten largest companies as calculated by this method were: In 2021, the ten largest companies as calculated by this method were: In 2020,
85-641: Is less diversity in news and entertainment and therefore less competition. This can result in the reduction of different points of view as well as vocalization about different issues. There is also a lack of ethnic and gender diversity as a majority of those in media are white, middle-class men. There is a concern that their views are being shared disproportionately more than other groups, such as women and ethnic minorities. Women and minorities also have less ownership of media. Women have less than 7 percent of TV and radio licenses, and minorities have around 7 percent of radio licenses and 3 percent of TV licenses. In
102-870: The 2024 Forbes Global 2000 list, Comcast is the world's largest media conglomerate, in terms of revenue, with The Walt Disney Company , Warner Bros. Discovery , & Paramount Global completing the top four. In 1984, fifty independent media companies owned the majority of media interests within the United States. By 2011, 90% of the United States's media was controlled by six media conglomerates: GE/Comcast (NBC, Universal), News Corp (Fox News, Wall Street Journal , New York Post ), Disney (ABC, ESPN, Pixar), Viacom (MTV, BET, Paramount Pictures), Time Warner (CNN, HBO, Warner Bros.), and CBS (Showtime, NFL.com). Between 1941 and 1975, several laws that restricted channel ownership within radio and television were enacted in order to maintain unbiased and diverse media. However under
119-632: The Eyewitness News service. Primedia was established in 1994 with Stan Katz appointed CEO and its listing on the JSE Securities Exchange completed in April 1995. Primedia remained listed on the JSE until 1 October 2007, when its listing was terminated following a successful private equity transaction (scheme of arrangements). Media conglomerate A media conglomerate , media company , media network , media group , or media institution
136-695: The FirstRand Group and the Old Mutual Group (Old Mutual Private Equity and Old Mutual Specialised Finance) who are major shareholders. Primedia's advertising businesses are located principally in South Africa. This includes radio broadcasting, outdoor advertising, commuter and other out of home media, and spans both the traditional and non-traditional media sectors. Primedia Broadcasting is a subsidiary of Primedia, headquartered in Sandton , Johannesburg . It currently operates four national radio stations and
153-621: The Reagan administration, Congress and the Federal Communications Commission , then led by FCC Chairman Mark S. Fowler , began a concerted deregulation over the years 1981 and 1985. The number of television stations a single entity can own increased from seven to 12 stations. The industry continued to deregulate with enactment of the Telecommunications Act of 1996 . Signed by President Bill Clinton on 8 February 1996, it
170-637: The concentration of multiple media enterprises in a few companies. This concentration is an ongoing concern for the Canadian Radio-television and Telecommunications Commission , the Australian Communications and Media Authority , the Philippine National Telecommunications Commission , and New Zealand's Broadcasting Standards Authority . Other countries that have large media conglomerates with impacts on
187-421: The merging of entertainment and news ( sensationalism ) at the expense of the coverage of serious issues. They are also accused of being a leading force behind the standardization of culture (see globalization , Americanization ) and are frequently criticized by groups that perceive news organizations as being biased toward special interests of the owners. Because there are fewer independent media, there
SECTION 10
#1732870112773204-492: The nation began to speculate how it might negatively impact society at large. In the case of Minot, North Dakota , the concerns regarding media consolidation is realized. On 18 January 2002, a train containing hazardous chemicals derailed in the middle of the night, exposing countless Minot residents to toxic waste. Upon trying to get out an emergency broadcast, the Minot police were unable to reach anyone. They were instead forwarded to
221-515: The same automated message, as all the broadcast stations in Minot were single-handedly owned by IHeartMedia . As the FCC reviews media ownership rules, broadcasters continued to petition it for the elimination of all rules, while those who are against this easing would often cite the incident in Minot as how consolidation could be harmful. Canada, Australia, the Philippines, and New Zealand also experience
238-518: The ten largest companies as calculated by this method were: In 2019, the ten largest companies as calculated by this method were: In 2018, the ten largest companies as calculated by this method were: As a group, the Forbes Global 2000 in year 2018 accounts for $ 39.1* trillion in sales, $ 3.2 trillion in profit, $ 189* trillion in assets and $ 56.8* trillion in market value. The top-ranked companies in each industry sector are as follows. In 2017,
255-755: The term media group may also be applied, however, it has not yet replaced the more traditional term. Critics have accused the large media conglomerates of dominating the media and using unfair practices. During a protest in November 2007, critics such as Jesse Jackson spoke out against consolidation of the media. This can be seen in the news industry, where corporations refuse to publicize information that would be harmful to their interests. Because some corporations do not publish any material that criticizes them or their interests, media conglomerates have been criticized for limiting free speech or not protecting free speech. These practices are also suspected of contributing to
272-918: The world include: Japan, Germany, the United Kingdom, Italy, France, China, Mexico and Brazil. Media conglomerates outside of the United States include Fujisankei Communications Group ( Fuji Television ), Yomiuri Shimbun Holdings , Hubert Burda Media , ITV , ProSiebenSat.1 , Mediaset , Axel Springer , JCDecaux , China Central Television , Alibaba Group , ABS-CBN Corporation , GMA Network , MediaQuest Holdings , Radio Philippines Network , Aliw Broadcasting Corporation , Advanced Media Broadcasting System , People's Television Network , Intercontinental Broadcasting Corporation , Presidential Broadcast Service , Viva Communications , Prasar Bharati , The Asahi Shimbun , Grupo Televisa , TV Azteca , Grupo Imagen , Grupo Globo , Baidu , GMM Grammy and Bertelsmann . Forbes Global 2000 The Forbes Global 2000
289-415: Was considered by the FCC to be the "first major overhaul of telecommunications law in almost 62 years". In the radio industry, the 40-station ownership cap was lifted, leading to an unprecedented amount of consolidation. Since this period, IHeartMedia grew from 40 stations to 1200 stations, in all 50 states, while Viacom grew to owning 180 stations across 41 markets. As media consolidation grew, some in
#772227