The most powerful media conglomerates in the world are located in the United States. During 2015 Comcast was considered the biggest conglomerate worldwide. Following Comcast, Walt Disney was the second biggest, and the Twenty First Century Fox was the third biggest one. These companies are the most powerful ones, since their money is invest in different forms. For example, Comcast is not only a cable company but is also part of a television channel that produces shows and news. These conglomerates are composed of associations between companies that offer the most entertainment and news to people around the world. To start of let’s talk about Comcast.
Comcast was established in 1963 with 1,200-subscribers, and by 1986 it had 1.2 million subscribers when 50% of Storer Communications, Inc. was purchased. Following this successful association, Comcast started to buy other companies, and years later became one of the largest companies in the world. Overall Comcast conglomerate focuses on media and technology. Its two primary businesses are Comcast cable and NBCUniversal. The cable part offers high-speed internet, video, and telephone to customers through the XFINITY brand. On the other hand, NBCUniversal takes care of news, entertainment/sports cable networks, television production, station groups, Universal pictures, and Universal Park and Resorts.
Comcast was established in 1963 with 1,200-subscribers, and by 1986 it had 1.2 million subscribers when 50% of Storer Communications, Inc. was purchased. Following this successful association, Comcast started to buy other companies, and years later became one of the largest companies in the world. Overall Comcast conglomerate focuses on media and technology. Its two primary businesses are Comcast cable and NBCUniversal. The cable part offers high-speed internet, video, and telephone to customers through the XFINITY brand. On the other hand, NBCUniversal takes care of news, entertainment/sports cable networks, television production, station groups, Universal pictures, and Universal Park and Resorts.
Image Credit: https://corporategreedchronicles.files.word
Similarly to Comcast, Walt Disney also owns Parks and Resorts, Studio entertainment, and Media Network. Additionally, Walt Disney invest in consumer products such as clothes, and accessories and interactive media apps. Unlike Comcast, Walt Disney started in the 1920s as a cartoon studio. In the late 1990s Disney began to expand by buying ABC, Pixar, and Marvel Entertainment. Walt Disney is mainly known for its Parks and Resorts, and also by the movies produce with Pixar. Walt Disney is not just important in the United States, but also worldwide because of its movies, and characters. Many people have grown up watching its cartoons such as Mickey Mouse, and movies like Toy Story, and Finding Nemo. Disney World owns ESPN, which is an American sport media.
In general, conglomerates exist to have control over the media, and what customers get know about their companies. Secondly, conglomerates is a safe way to invest since you are investing in different fragments, and mainly towards entertainment. There are many pros and cons as to if conglomerates are good or bad, since it has some benefits but also some disadvantages. As the journalist Rifka Roseweing said in 1999 “Having a few huge corporations control our outlets of expression could lead to less aggressive news coverage and a more muted marketplace of ideas”. Which is actually scary because if few conglomerates have control, it could led to a communist media, where people only get one side of the story and not both. This means that when a company has a problem/scandal it would be easier for them to hide it, since the company owns the news and can manipulate what it gets transmitted and omitted. On the other hand, conglomerates are good for business because the companies are receiving income from different fragments, and also are able to advertise their products in their different platforms.
In general, conglomerates exist to have control over the media, and what customers get know about their companies. Secondly, conglomerates is a safe way to invest since you are investing in different fragments, and mainly towards entertainment. There are many pros and cons as to if conglomerates are good or bad, since it has some benefits but also some disadvantages. As the journalist Rifka Roseweing said in 1999 “Having a few huge corporations control our outlets of expression could lead to less aggressive news coverage and a more muted marketplace of ideas”. Which is actually scary because if few conglomerates have control, it could led to a communist media, where people only get one side of the story and not both. This means that when a company has a problem/scandal it would be easier for them to hide it, since the company owns the news and can manipulate what it gets transmitted and omitted. On the other hand, conglomerates are good for business because the companies are receiving income from different fragments, and also are able to advertise their products in their different platforms.
Image Credit: https://awmaye13.files.word
press.com/
press.com/
Work Cited: