This text describes in detail the recent rapid growth and crossborder activities and linkages of an industry of large global media conglomerates. It also assesses the significance of the ongoing deregulation and convergence of the global media and telecommunications systems and the rise of the Internet. The authors argue that the most important features of this globalization process are the implantation, consolidation and concentration of an advertisement-based commercial media and parallel weakening of public broadcasting systems worldwide, with negative consequences on the "public sphere".
Edward S. Herman is professor emeritus of finance at the Wharton School, University of Pennsylvania and has written extensively on economics, political economy, and the media. Among his books are Corporate Control, Corporate Power; The Real Terror Network; The Political Economy of Human Rights (with Noam Chomsky); and Manufacturing Consent (with Noam Chomsky). David Peterson is an independent journalist and researcher based in Chicago.



