A media conglomerate or media group is a company that owns large numbers of companies in various mass media such as television, radio, publishing, movies, and the Internet. Or we can simply say that
"Media conglomerates strive for policies that facilitate their control of the markets around the world." is a modern generalized description.”(Michael Pertschuck, and Scott Sherman, (1999). "Editorials" (Nation))
These media conglomerates exist in Europe, Asia and Latin America. According to the Fortune 500 list of 2014 The Walt Disney Company is America 's largest media conglomerate in terms of revenue with 21st Century Fox, Time Warner, CBS Corporation, and Viacom are amongst the top five. Other major players are Comcast and Sony. Since 1950 media conglomerate has become a regular feature of the global economic system. Due to these media conglomerates the theory of media imperialism evolved which states that “due to over concentration of mass…show more content… A media source which ignores or censors important issues and events severely damages freedom of information. Many modern tabloids, twenty four hour news channels and other mainstream media sources have increasingly been criticized for not conforming to general standards of journalistic integrity. In nations described as authoritarian by most international think-tanks and NGOs media ownership is generally something very close to the complete state control over information in direct or indirect ways.
Undesirable consequences which occur due to media imperialism are:
• Commercially driven ultra-powerful mass market media is primarily loyal to sponsors i.e. advertisers and government rather than to the public interest.
• Only a few companies representing the interests of a minority elite control the public airwaves.
• Healthy market based competition is absent leading to slower innovation and increased prices.
Thus we can simply say that all this have given rise to cultural imperialism.