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Commercial Media and the Economic System |
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Within the global economic system commercial media are powerful players. They not only support and complement the needs of nonmedia firms, but also stimulate corporate growth within countries. As they are also the main vehicle for advertising, commercial media moreover facilitate the marketing of products and services.
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Viacom
One of the largest and foremost communications and media conglomerates in the
world. Founded in 1971, the present form of the corporation dates from 1994 when Viacom Inc., which owned radio and television stations and cable television programming services and systems, acquired the entertainment and publishing giant Paramount Communications Inc. and then merged with the video and music retailer Blockbuster Entertainment Corp. Headquarters are in New York City.
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