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Globalization of Media Power |
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Until the 1980s most media were domestically owned and regulated. Then, following the increased emphasis on free trade, national deregulation and privatization, pushed for by institutions like the International Monetary Fund (IMF) and the World Bank, drastic changes within the world of media occurred.
While throughout the 1990s media were still primarily organized on a national or local level, with the further rise of neoliberalism and the implementation of free movement of labor, goods, services and capital between countries the importance of national boundaries has diminished. Today the whole world participates in one global market system. Just as many other industries also commercial media have followed the trend towards globalization, resulting in an increasing number of transnational corporations (TNCs), which maintain subsidies in several countries and operate and invest on the basis of a multi-country perspective.
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Alexander Graham Bell
b., March 3, 1847, Edinburgh
d. Aug. 2, 1922, Beinn Bhreagh, Cape Breton Island, Nova Scotia, Canada
American audiologist and inventor wrongly remembered for having invented the telephone in 1876. Although Bell introduced the first commercial application of the telephone, in fact a German teacher called Reiss invented it.
For more detailed information see the Encyclopaedia Britannica: http://www.britannica.com/bcom/eb/article/1/0,5716,15411+1+15220,00.html
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