Media Consolidation

Nature

Trend of mergers and acquisitions in the media industry

Primary Drivers

Strategic moves by large entities and individuals (e.g., Ellison family, Oracle, Skydance)

Historical Context

Telecommunications Act of 1996

Impact on Journalism

Reshapes how news is reported and consumed, potential for biased reporting, corporate influence on content

Impact on Local News

Diminished availability, shift from localized to generic content, less coverage of local issues

Societal Consequences

Erosion of public discourse, challenges to free speech, increased susceptibility to political pressure, algorithmic influence, potential for online radicalization and political violence

Impact on Publishing Industry

Emergence of 'Big Five' publishing companies (Penguin Random House, HarperCollins, Simon & Schuster, Hachette Book Group, Macmillan)

Key Conglomerates (TV Broadcasting)

Gray Television, Nexstar Media Group, Sinclair Broadcast Group (collectively control ~40% of local TV news stations)

1996-XX-XX

2019-07-30

2025-09-19

# U.S. Constitution.net # Media Consolidation Impact ## Historical Context of Media Consolidation Media consolidation has deep roots in American history. The landscape shifted dramatically with the Telecommunications Act of 1996, which allowed media companies to acquire one another more freely. Before this, regulations aimed to ensure media diversity and prevent any single entity from dominating the market. [...] The consolidation of media ownership has diminished the availability of local news. As larger conglomerates acquire smaller, community-oriented outlets, the focus often shifts from localized reporting to broader, more generic content. This shift can result in less coverage of local issues, governmental activities, and community events, potentially impacting citizens' ability to engage with local governance issues. [...] Media consolidation has profoundly impacted American journalism, reshaping how news is reported and consumed. The effects are particularly noticeable in local news coverage, the influence of corporate interests on content, and the potential for biased reporting.

In an era where media giants continue to expand through mergers and acquisitions, the publishing landscape is undergoing unprecedented transformation. This consolidation trend affects everyone from multinational publishing houses to independent authors, reshaping how books are created, distributed, and consumed. For industry professionals navigating these changes, understanding the forces driving consolidation and its far-reaching consequences has become essential for survival and success. [...] One of the most visible results of media consolidation has been the emergence of the “Big Five” publishing companies: Penguin Random House, HarperCollins, Simon & Schuster, Hachette Book Group, and Macmillan. These firms came to dominate the publishing industry through a series of acquisitions and mergers over several decades. [...] Independent bookstores, in particular, have demonstrated remarkable resilience by focusing on community building and experiential retail that online giants struggle to match. ## Conclusion: Navigating the New Publishing Landscape Media consolidation is not inherently negative—it can bring investment, innovation, and global reach. But unchecked, it can also narrow access, stifle competition, and marginalize voices that don’t meet mainstream criteria.

Coauthored by Gregory J. Martin at Stanford Graduate School of Business and Joshua McCrainopen in new window at Emory University, the study focused on the impact of one conglomerate in particular: Sinclair Broadcast Group, which owns 191 stations that reach almost 40% of the U.S. population. [...] Skip to main content Government & Politics 5 min read # Media Consolidation Means Less Local News, More Right Wing Slant July 30, 2019 | by Edmund L. Andrews Share on X open in new window Share on Linkedin open in new window Share on Facebook open in new window Share on Email open in new window Copy Link Copied to clipboard People gather in the WABar to watch a broadcast on television as U.S. President Donald Trump meets North Korean leader Kim Jong Un, Credit: Reuters/Andrew Kelly [...] Regardless of the business motivations, Martin says the study raises new questions about the political power of media companies. For one thing, a reduction in local political news could make it harder for people to be informed about their own elected governments. Beyond that, the study suggests that media conglomerates could sway national elections.

In the past decade, consolidation of American TV broadcasting has accelerated and put 40 percent of all local TV news stations under the control of the three largest broadcast conglomerates: Gray Television, Nexstar Media Group, and Sinclair Broadcast Group. Their stations—each company now owns about 100 affiliated with ABC, CBS, FOX, or NBC—operate in more than 80 percent of US media markets.