| Título: | Financialization and the “Crisis of the Media”: The Rise and Fall of (Some) Media Conglomerates in Canada |
| Autores: | Winseck, Dwayne; Carleton University, School of Journalism and Communication |
| Fecha: | 2010-11-02 |
| Publicador: | Canadian Journal of Comumunication |
| Fuente: |
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| Tipo: |
info:eu-repo/semantics/article research-article info:eu-repo/semantics/publishedVersion |
| Tema: | Financialization; Media concentration; Network media economy; Political economy |
| Descripción: | ABSTRACT New media have expanded the size of the media economy without cannibalizing the economic base of traditional media. The current woes facing some media primarily reflect a short-term, cyclical decline in advertising revenue caused by the economic downturn, the accumulated results of media consolidation, and the financialization of the media. The latter process saw vast sums of capital investment in the creation of massive media conglomerates based on wildly optimistic projections where future profits would grow faster than the expanding network media economy and exceed the high profits that characterized the media in the past. When that rosy scenario failed to materialize, some media companies were indeed in trouble and saddled with unsustainable debts, but there has been no crisis of the media per se.RÉSUMÉ Les nouveaux médias ont agrandi l’économie des médias sans cannibaliser les bases économiques des médias traditionnels. Les problèmes actuels que confrontent certains de ces médias reflètent surtout un déclin à court terme des revenus publicitaires causé par la situation économique récente, les résultats cumulatifs de la fusion des médias, et la financialisation des médias. En ce qui a trait à ce dernier processus, on a recouru à de vastes mises de fonds pour créer des conglomérats médiatiques massifs en croyant avec unoptimisme excessif que les futurs profits augmenteraient plus vite que l’économie des réseaux médiatiques en expansion et excéderaient les profits importants déjà réalisés par les médias dans le passé. Quand les profits attendus ne sont pas arrivés, certaines compagnies médiatiques se sont retrouvées avec des dettes insurmontables, mais il n’y a pas eu de crise des médias en tant que telle. |
| Idioma: | Inglés |
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