Part 2 focuses on the ownership, economics of media and political influences and professional and organizational aspects of media. Most of the media are for-profit businesses. Like businesses, media must worry about profitability, cost containment, and ownership patterns. But before this we must understand how the media industry works. Media doesn’t just appear. It is constructed through a very complex production process, which involves the media industry as a whole, which includes ownership and the economics of media.
Owners of the media influence the content and form of media products by their decisions to hire and fire certain personnel, to fund certain projects, to give media platforms to certain speakers, and to develop or support certain technologies. However, ownership of the media has become so concentrated that only five global firms basically own the entire media industry (Time Warner, Disney, Viacom, News Corp., and Bertelsmann AG). This is called conglomeration, which means that fewer corporations own the media. These companies dominate all forms of mass media, which include magazines, radio, television, books and movies. “These major media companies also own vast portfolios of products, spanning the range of media formats and delivery systems.” (Croteau, Hoynes, and Milan Location 1110). Within ownership there are two different types of integration that concentrated with conglomeration. One is horizontal integration, which means that the company owns all types of media within different industries. For an example, Walt Disney Company owns the ESPN television network, that also has a radio station and magazine, which covers all aspects across the business. On the other hand, vertical integration refers to the process by which the owner