chapter 3 synopsis resubmitted

This chapter has taught me a lot about the importance of understanding the changing patterns of media ownership. Media concentration is a commonly used term among media critics, policy makers, and others to characterize the ownership structure of the media industry. When we talk of media concentration, we are referring to the presence of media conglomerates in the media industry.
A media conglomerate as a company owns many different types of media businesses. Many businesses also operate worldwide. The Japan-based Sony Corporation started in 1946 as Tokyo Telecommunications Engineering. It originally only had three employees. Amazingly in 2001, it boasted more than 18,000 worldwide with over 58 billion dollars in sales.
Sony started as a conglomerate that dealt with consumer audio-video products before moving into the media business in the late 1980s. Today Sony Pictures Entertainment is one of the top five distributors of music and movies worldwide. The rise of media conglomerates can be traced back to the 1980’s and 1990’s. During this time, there were many mergers and buyouts within the media and entertainment world.
By controlling the media vertical supply chain, a conglomerate can generate enormous profit from its media products. If a conglomerate has a successful movie, it could promote the film through its other broadcast properties. It could then use the film to spin off TV programs, musical CD’s, and books, while marketing various other merchandise.
Today these conglomerates are no longer producing products within the media as brands that are durable and profitable. Size is extremely important. If a company controls a vertical supply chain, it can use all the resources in its organization to squeeze the last ounce of profitability out of its products.
I do agree that in the Twenty-First Century a growing number of media organizations are part of a larger media conglomerate. They vary between economic and media interests. In my opinion, I feel that news organizations are purely interested in reporting issues that are of public concern. This is to ensure that all citizens living within a democracy would have the opportunity to take action to ensure the health and well being of it.
The dichotomy between news organizations and the rest of the media is not clearly defined. Although this has not always been true, today it is obvious that trends have an impact on the way the news is reported and published. Because of this, there are many areas of overlapping involving entertainment when reporting the news in today’s market.