Ownership of the Media and Its Implications
2011-17951
Date submitted: August 29, 2013
Ownership of Media and Its Implications
The Issue of Media Ownership Media ownership has been a hot topic for quite some time. In the Philippines, where private-ownership of the media is more common, the issue now is whether or not foreigners can own more than 40% of a media company. This is a country that has also experienced dominance of state-owned media under martial law and during that time, and Filipinos did not accept that sitting down but they fought hard for press freedom. Now, with the balance of privately owned and state-owned media companies, credibility is now being questioned for some private newspaper companies with owners that are also taking part in other business ventures, and the credibility of some local TV networks are also under scrutiny for being more careful on how they report issues connected to their sponsors and advertisers. In other countries, media ownership has also sparked major debates. In the US, for example, last year there was a huge debate regarding the Federal Communications Commission 's (FCC) consideration of lifting the ban on newspapers owning radio stations in the same town and to also adjust its longstanding media ownership rules. According to Freepress.net, in reaction to this, more than 100,000 people signed a petition asking the FCC to not push through with the reforms, more than 600 people called members of congress to ask them to fight the reforms, and ten senators wrote letters to the FCC to fight more media consolidation. Also, more than 40 local and national civil rights groups voiced their concerns for the reforms. It 's obvious that media ownership is not something that is taken lightly by the general public of the mentioned countries. But why make a big deal about who owns the media? Simple: because media is powerful. A study done by the World Bank in 2002 regarding media ownership describes Demsetz and Lehn 's insight, which is that whoever owns the media
Date submitted: August 29, 2013
Ownership of Media and Its Implications
The Issue of Media Ownership Media ownership has been a hot topic for quite some time. In the Philippines, where private-ownership of the media is more common, the issue now is whether or not foreigners can own more than 40% of a media company. This is a country that has also experienced dominance of state-owned media under martial law and during that time, and Filipinos did not accept that sitting down but they fought hard for press freedom. Now, with the balance of privately owned and state-owned media companies, credibility is now being questioned for some private newspaper companies with owners that are also taking part in other business ventures, and the credibility of some local TV networks are also under scrutiny for being more careful on how they report issues connected to their sponsors and advertisers. In other countries, media ownership has also sparked major debates. In the US, for example, last year there was a huge debate regarding the Federal Communications Commission 's (FCC) consideration of lifting the ban on newspapers owning radio stations in the same town and to also adjust its longstanding media ownership rules. According to Freepress.net, in reaction to this, more than 100,000 people signed a petition asking the FCC to not push through with the reforms, more than 600 people called members of congress to ask them to fight the reforms, and ten senators wrote letters to the FCC to fight more media consolidation. Also, more than 40 local and national civil rights groups voiced their concerns for the reforms. It 's obvious that media ownership is not something that is taken lightly by the general public of the mentioned countries. But why make a big deal about who owns the media? Simple: because media is powerful. A study done by the World Bank in 2002 regarding media ownership describes Demsetz and Lehn 's insight, which is that whoever owns the media
References: Government Controlled Media . (n.d.). The Interactive Media Lab at the University of Florida. Retrieved August 28, 2013, from http://iml.jou.ufl.edu/projects/STUDENTS/McCormick/govern.htm BBC News - Myanmar profile - Media Camus, M. (2012, November 6). SEC rules on foreign ownership. ABS-CBN News. Retrieved August 29, 2013, from www.abs-cbnnews.com/business/11/05/12/sec-rules-foreign-ownership-out Coyne, C., & Leeson, P Djankov, S., McLiesh, C., Nenova, T., & Shleifer, A. (2003). Who Owns The Media?*. The Journal of Law and Economics, 46(2), 341-382. (2009). State versus private ownership: A look at the implications for local media freedom. Article 19, -, 1-10. Retrieved August 28, 2013, from http://dx.doi.org/10.1016/j.jfi.2008.09.005 Stearns, J