For the moment, the scale of America's role in global media, both as exporter and investor, is unique. But the giants of American media, such as Time Warner, Walt Disney and Viacom, dominate entertainment export markets and lead joint ventures which are creating new television businesses around the world. Although some of the world's largest book and newspaper publishers are based elsewhere, America is home to most of the world's largest audio-visual companies. Governments have not fostered the globalisation of media. Instead, even more than in other industries, they resist foreign investment.
Most countries restrict foreign ownership of television channels.
In continental Europe in particular, some politicians want to go further, and ration imports of foreign television. Tuning in The globalisation of television is essentially a consequence of the transition of broadcasting from a medium in scarce supply to one of plentiful capacity. For most of this century, the limitations of spectrum have restricted the number of television and radio channels. Even where, as in the United States, broadcasting has been a commercial and competitive business from the start, it has been heavily regulated. The transition to plenty began in the United States.