Media ownership is very profitable. Media produce information and entertainment. In the process, newspapers, magazines, radio and TV attract an audience for advertising. Films, records and books rely on direct sales for profits, but advertising is part of every medium. Most profitable form of mass communication is newspapers.
Major trend is consolidation.
Private ownership of media minimizes government control of media messages, consistent with the First Amendment. Public broadcasting receives government support, but impact is much smaller than commercial broadcasting. Chains, networks, cross-media ownership. Gannett is biggest newspaper chain, with 82 dailies, including USA Today. This will probably change soon with telecommunication bill working its way through Congress.