Time Warner Essay

1859 Words 8 Pages
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,
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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 people can go and rent the movie, the record company which releases the soundtrack and the stores which sell them, and the company which produces all the essential memorabilia (such as T-shirts,

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