Econimics in the Newsroom
Essay title: Econimics in the Newsroom
A business exists to make a profit. This is a statement that even a child understands. In order to keep the doors open and to be successful a company must find ways to keep costs down and revenue up. The business of media is no different. One way that the media corporations try to do this is by merging together with other media outlets and becoming more streamline. They are able to combine their resources and in turn bring down prices for the consumer.
In the piece by Michael K. Powell called, “Yes, The FCC Should Relax Its Ownership Rules”, he makes a very valid argument for the liberalization of ownership rules by the FCC. I think one of his best points was identifying how many media outlets there are today, thus making it harder to monopolize what is reported on. If people don’t like the information they are getting from the big corporations, they are able to go elsewhere such as other news shows or the internet.
Another benefit for the consumer of relaxing ownership rules is that it will promote localism. By allowing cross-ownership it will