Yesterday we considered the impact of media ownership across the globe. I described the pattern of ownership as an oligopoly:
An oligopoly is a market dominated by a few large suppliers. The degree of market concentration is very high (i.e. a large percentage of the market is taken up by the leading firms). Firms within an oligopoly produce branded products (advertising and marketing is an important feature of competition within such markets) and there are also barriers to entry.
Using the following link and and the essay on cultural imperialism answer the question on media ownership.
http://en.wikipedia.org/wiki/Concentration_of_media_ownership
"The domination of the world's media production by a small elite of media conglomerates should be a cause for concern". Discuss this assertion in light of your reading and research.
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