AOL Time Warner is known to be the largest Major Media Company in the world. Some if it’s properties include:
-12 television/film companies including Warner Bros and Hanna-Barbera
-29 operations including CNN, Time Warner Cable (13 million customers in USA)
-24 Book Brands including Time Life Books
-35 magazines including Time and Fortune Magazine (120 million readers)
-AOL (27 million subscribers), CompuServe, Netscape
-52 record labels
-Theme parks, Warner Bros Studios stores in over 30 countries
-Turner Entertainment Corporation (owns 4 sports teams)
*CEO Gerald Levin and Chair Steve Case employ over 70,000 workers, and generate over $31.8 billion in revenue.
Many implications are evident as a result of cross media ownership. News can be skewed, altered or fabricated to present a false picture in light of corporate interest by the parent company. Ex. CNN may air a segment on an upcoming artist, signed to Warner Records, in order to boost record sales. The average viewer may not realize that Warner Records and CNN are both owned by the same parent company (AOL Time Warner), and may see no relation between the two. Many other implications such as this can occur. AOL Time Warner may use any property in any combination to benefit itself, such as in the example above. The result is the fabrication of culture by Major Media Companies such as this one.
Another downfall to cross media ownership is the fact that most of our information is coming from one source, and there is no room for diversity from other sources. We only receive one viewpoint or angle on major issues, as to benefit the parent company, and never see the other side of the coin unless we seek other sources of information. By seeking other sources, we can make our own conclusions based on a variety of sources, rather than being “handed” the news based on one source, and automatically deem the information to be true.
One major implication of cross media ownership is that the credibility of a company or property may be compromised. If CNN were to constantly air stories on Warner Records artists, the viewers may catch on, and begin to question the credibility of CNN. If news is being fabricated, one might not trust that news station on other stories as well. If the station fabricated a story on an artist, why couldn’t they fabricate stories on the Iraq war in interests of oil companies under AOL Time Warner?
Cross media ownership is a common example of capitalism in our modern society. This Media Hegemony is controlling the media we receive on a day-to-day basis whether we realize it or not, and is essentially fabricating culture. As long as one remains aware of this fact, and seeks other sources of media than that from one parent company, such as AOL Time Warner, one can think for themselves, and come up with their own conclusions on what to believe and what to question.
"One of the most cherished freedoms in a democracy is the right to participate freely in the 'marketplace of ideas'" - John Stauber and Sheldon Rampton (10)
Works Cited
Stauber, John, and Sheldon Rampton. Toxic Sludge is Good for You! Maine. Common Courage, 1995. Print.
Williams, Granville. "Ultra Concentrated Media - Top Selling Brands." Ultra Concentrated Media - Top Selling Brands. Granville Williams, Apr. 2001. Web. 20 Nov. 2009.
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