Topic 1 - The pluralist theory of media ownership

PLURALISTS believe that modern capitalist societies are democratic - all intrest groups, are given a platform to express their views on the electorate.

The mass media are seen to be an essential component of this democratic ideal as most people obtain their knowledge of politics through newspapers and television.

PLURALISTS therefore believe that media owners are objective, responsible and impartial facilitators of thois political process.

The economics of media ownership

The behaviour of media owners is constrained by the market - in free-market economies, media owners compete against each other in order to attract people to their products.

Readers and listeners are the real power-holders, as they have the freedom of choice.

If the media audience did not like a product , they would probably respond by not buying the product and then the media company would go out of business.

Power then lies with consumers not media owners.

The media, therefore, give the public what the audience want rather than what the owner wants to maximise profits.

Consentration of ownership is aimed at the maximisation of audience size in order to reduce costs and attract avertising revenue.

Vertical and horizontal intergration as well as synergy, reduce costs because media companies no longer have to contract services out of other media companies who might be competing with them.

It is practically…