This is interesting to think about in times of war, not my words, but the web site is listed if you want to see the full context.
"The dangers of a media monopoly
Before reviewing the statistical evidence of the media monopoly, which is undisputed even by the media themselves, we should make certain of its dangers.
The incentives for buying media organizations have long been obvious to Wall Street, which has seen vicious competition break out to capture the remaining media markets. These incentives were articulated in 1986 by Christopher Shaw, a Wall Street expert who has handled over 120 media mergers. Shaw told investors that media buy-outs would give them two things: "profitability" and "influence." (4)
There is nothing inherently wrong with either profitability or influence, of course -- it's just that in a monopoly, they would be abused. Consider the abuse of profits. All the usual market failures would be present in a media monopoly: the captive market, the rise in prices, the drop in quality, and the exploitation of consumers.
But significantly more troubling is the monopolization of influence. If one person controls all information, there are no opposing viewpoints so essential to keeping public and scientific debate honest. We profoundly condemn the monopoly of information by the state, as exemplified by Joseph Goebbels' "Ministry of Propaganda and Enlightenment." But this danger is no less evident if a single business takes over the control of all information in society. Then all information would come from a corporate point of view, silencing the voices of workers, consumers and other citizens who are affected by corporate behavior. Democracy is based on the assumption that opposing viewpoints can be heard. If corporations could somehow eliminate or control populist debate, then we will not have a true democracy.
The potential for abuse by corporate owners is obvious. Just one example was General Electric's earlier buyout of NBC News. General Electric is the 10th largest company in the United States. It is a major Defense contractor and an international player on the world market. It is sensitive to the needs of its clients, who come from all sectors of the economy. It is also a fact that GE has suffered many a scandal throughout its history. During the Great Depression, it cut the life of its light bulbs by one-third to drive up profits. It was convicted of an illegal agreement with a German arms company during World War II. It has been convicted of fraud, fixing bids, conspiracy and tax evasion. (5) In all these cases, control of a major media outlet would have given it undue influence, whether in the market or before Congress or the courts.
Furthermore, GE has played an active role in conservative politics. Shortly after the company acquired NBC, a GE executive announced that NBC should start a political action committee to contribute money to strengthen the company's influence in Washington. Failure to cooperate, the executive said, would raise questions about the employees' "dedication to the company." (6) Later the President of NBC News clarified that its news employees would be exempt from contributing, but this hardly removes the larger conflict of interest.
It should not be surprising that these parent companies, like most big businesses and all Defense contractors, are extremely conservative. They have agendas: they desire lower taxes, fewer lawsuits from the public, fewer environmental restraints, better public relations (a euphemism for less public exposure to scandals), higher profits and more effective lobbying power in Washington. Controlling public opinion would give them all these things. Ironically, it would not be necessary for a single winner to emerge from the take-over wars. Shaw maintains that by the year 2000, all U.S. media will be in the hands of six giant corporations. Most business analysts agree with him. (7) One can safely assume that they will all have the same business and political agenda."
Full context available at
http://www.huppi.com/kangaroo/L-liberalmedia.htm
