Although the traditional media companies first steps into the digital sphere were fairly clumsy, they have quickly learned from their mistakes and continued to enlarge their Internet presence.
During the last years many of the smaller players in the field of digital media have been driven out of competition by the huge media conglomerates. This mainly is a result of the advantages that the commercial media giants have over their less powerful counterparts:
- As engagement in online activities mostly does not lead to quick profits, investors must be able to take losses, which only powerful companies are able to.
- Traditional media outlets usually have huge stocks of digital programming, which they can easily plug into the Internet at little extra cost.
- To generate audience, the big media conglomerates constantly promote their Websites and other digital media products on their traditional media holdings.
- As possessors of the hottest "brands" commercial media companies often get premier locations from browser software makers, Internet service providers, search engines and portals.
- Having the financial resources at their disposition the big media firms are aggressive investors in start-up Internet media companies.
Commercial media companies have close and long ties to advertisers, which enables them to seize most of these revenues.
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"Faced with this process of globalization, most governments appear to lack the tools required for facing up to the pressure from important media changes. The new global order is viewed as a daunting challenge, and it most often results in reactions of introversion, withdrawal and narrow assertions of national identity. At the same time, many developing countries seize the opportunity represented by globalization to assert themselves as serious players in the global communications market."
(UNESCO, World Communication Report)
The big hope of the South is that the Internet will close the education gap and economic gap, by making education easier to achieve. But in reality the gap is impossible to close, because the North is not keeping still, but developing itself further and further all the time; inventing new technologies that produce another gap each. The farmer's boy sitting in the dessert and using a cellular telephone and a computer at the same time is a sarcastic picture - nothing else.
Still, the so called developing countries regard modern communication technologies as a tremendous chance - and actually: which other choice is there left?
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-1994
Viacom multimedia and industrial corporation takes control of Paramount Communications for US$ 9.6 billion, as well as Blockbuster Entertainment, a huge video store chain, for US$ 8.4. billion.
1995
Entertainment giant Disney buys Capital Cities-ABC for US$ 19 billion.
The industrial and broadcasting company Westinghouse Corp. buys out CBS for US$ 5.4 billion.
In a US$ 7.2 billion deal, Time Warner acquires Turner Communications, owner of prime cable TV channels CNN, TBS and TNT and a major classic American film library.
1996
Westinghouse/CBS buys Infinity Broadcasting's large group of radio stations.
Murdoch and News Corp. acquire ten more TV stations and TV production studios with the US$ 2.5 billion purchase of New World Communications Group.
Viacom buys half of UPN-TV network, adding that to its other holdings, which include eleven TV stations, along with MTV, VH-1, and other cable TV channels and Paramount movie studios.
1997
Radio Groups Chancellor Media and Evergreen merge and are linked by ownership with Capstar Broadcasting; they also buy ten radio stations from Viacom. By mid-1997 Chancellor/Capstar controls no fewer than 325 radio stations around the United States.
Chancellor/Capstar's controlling ownership group, Hicks Muse Tate & Furst, buys the seventh largest radio group, SFX, adding another seventy-two radio stations, making a total of nearly four hundred stations controlled by this one source.
Westinghouse-CBS buys out American Radio Systems, the fourth largest radio chain in total audience, which gives Westinghouse-CBS over 170 radio stations with a total audience nearly equal to that of the Chancellor/Capstar group.
Giant European-based print and electronic publishing and data base corporations Reed Elsevier and Wolters Kluwer merge.
1998
Bertelsmann buys the Random House-Alfred A. Knopf-Crown Publishing group of book publishers from Newhouse/Advance Publications, adding to its Bantam-Doubleday-Dell publishing group and giving Bertelsmann by far the largest English-language publishing operations.
1999
AOL, the worlds leading Internet service provider and Time Warner, the worlds leading classical media company merge in a US$ 243.3 billion deal.
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Leonard M. Adleman was one of three persons in a team to invent the
The economic rights (besides