First published in 1983, The Media Monopoly raised concerns about increasing concentration of media ownership in the U.S. Bagdikian collected examples of interactions between media corporations, advertisers and government regulators and concluded that all three were doing well at the expense of media consumers and the greater good of an informed citizenry. The greater the concentration of ownership, Bagdikian found, the more large corporations substituted advertiser-friendly pablum for news. Canadian media holdings became concentrated in fewer hands last year. Conrad Black's Hollinger group grabbed the Southam newspaper chain, which in turn had absorbed some Thomson papers. Sun Media left the Rogers fold, borrowed a pile of money and started its own spree with the Blackburn group, including the London Free Press.
Media companies are beholden to their investors.
As all of the above grew last year, their obligations grew apace. Pleasing lenders and investors means jacking up quarterly profits in order to meet debt payments and give equity holders a reasonable rate of return. In Canadian media, this will have to be done by getting more out of what you have, which means a year of more fluff, more celebrity and entertainment 'news,' and more crime stories. And we'll see a strike or two as unionized workers feel the squeeze. The dominant voice in the debate over Canadian media ownership is Conrad Black, largely because he can't resist an opportunity to shoot his mouth off.