Time Warner

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Time Warner

In 1989, the largest Media Corporation was formed. The
integration of Time Inc. and Warner communications produced Time Warner, which in 1996 with the acquisition of Turner
broadcasting, regained it’s status from Disney as the largest media corporation in the world.
The company right now, with over 200 subsidiaries world-
wide, is becoming fully global with it’s profits from the USA falling, and it’s profits throughout the world rising. Globalisation is proving to be Time Warner’s major asset in beating other competition to the World market.

Currently, Time Warner has interests in many different
business fields. Music accounts for a large proportion of
its income, while not far behind are its cable systems,
entertainment, films, video and television holdings. But,
the company has also centred its resources and invested in the global media, producing programmes and channels for
countries around the world, which in turn has proven to be a very lucrative area of growth. Time Warner in general
has become a “major force in virtually every medium and on every continent”
So then, why should a company like Time Warner be a threat to the public, and something which all of us citizens
around the World should be aware of ? Isn’t Time Warner just a success of capitalism ? A successful company, which employs thousands of people and makes massive turnovers,
while at the same time advancing the cause of the global
market and promoting commercialism doesn’t seem like a thing of public concern. In the World village today, why
should we need thousand’s upon thousand’s of small independent company’s and tv stations and newspaper’s, when we could have ten large conglomerates who would control

everything from production to sales to distribution ? The
way in which thing’s have developed over the past ten years, that scenario or fiction might even become fact or
reality. So why should it bother the people of the World
?
To begin answering that question, we need to go back a
hundred years or so and look at the work of Karl Marx and
his interpretations of “socio-economic order produced by industrial capitalism” . Marx believed that the unequal distribution of wealth and the way in which the capitalist class controlled this wealth through the possession of raw materials, means of distribution and labour, enabled them

to make huge profits and further their interests. This in
turn control over production consolidated their position as the dominant class. As Marx saw it “…the owners of the new communication companies were members of the general
capitalist class and they used their control over cultural production to ensure that the dominant images and
representations supported the existing social
arrangements…” He proved his point at the height of the American Civil War, when he pointed out the connection
between the British newspapers insistence on supporting the South and the government in power. Marx realised that
there was profit to be made for the ruling class that owned many of the leading newspapers and in the interests of the Prime Minister as well.
So what does ownership of the means of cultural production have to do with concentration, oligopoly and vertical
integration ? In the process of answering that question,
we need to look at the terms involved. To maximise a
company profits the same company has to maximise its reach with the public. So, instead of owning only the sales of a product, the company owns the production and distribution
of that same product. To make it more simple, instead of
owning just a film, the media company owns the studio in
which the film was shot, the cinemas where people can go
and see the movie, the stores where...
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