For all their economic clout and cultural sway, the ten great multinationals profiled in our latest chart–AOL Time Warner, Disney, General Electric, News Corporation, Viacom, Vivendi, Sony, Bertelsmann, AT&T and Liberty Media–rule the cosmos only at the moment. The media cartel that keeps us fully entertained and permanently half-informed is always growing here and shriveling there, with certain of its members bulking up while others slowly fall apart or get digested whole. But while the players tend to come and go–always with a few exceptions–the overall Leviathan itself keeps getting bigger, louder, brighter, forever taking up more time and space, in every street, in countless homes, in every other head.
The rise of the cartel has been a long time coming (and it still has some way to go). It represents the grand convergence of the previously disparate US culture industries–many of them vertically monopolized already–into one global superindustry providing most of our imaginary "content." The movie business had been largely dominated by the major studios in Hollywood; TV, like radio before it, by the triune axis of the networks headquartered in New York; magazines, primarily by Henry Luce (with many independent others on the scene); and music, from the 1960s, mostly by the major record labels. Now all those separate fields are one, the whole terrain divided up among the giants–which, in league with Barnes & Noble, Borders and the big distributors, also control the book business. (Even with its leading houses, book publishing was once a cottage industry at both the editorial and retail levels.) For all the democratic promise of the Internet, moreover, much of cyberspace has now been occupied, its erstwhile wildernesses swiftly paved and lighted over by the same colossi. The only industry not yet absorbed into this new world order is the newsprint sector of the Fourth Estate–a business that was heavily shadowed to begin with by the likes of Hearst and other, regional grandees, flush with the ill-gotten gains of oil, mining and utilities–and such absorption is, as we shall see, about to happen.
Thus what we have today is not a problem wholly new in kind but rather the disastrous upshot of an evolutionary process whereby that old problem has become considerably larger–and that great quantitative change, with just a few huge players now co-directing all the nation's media, has brought about enormous qualitative changes. For one thing, the cartel's rise has made extremely rare the sort of marvelous exception that has always popped up, unexpectedly, to startle and revivify the culture–the genuine independents among record labels, radio stations, movie theaters, newspapers, book publishers and so on. Those that don't fail nowadays are so remarkable that they inspire not emulation but amazement. Otherwise, the monoculture, endlessly and noisily triumphant, offers, by and large, a lot of nothing, whether packaged as "the news" or "entertainment."
Of all the cartel's dangerous consequences for American society and culture, the worst is its corrosive influence on journalism. Under AOL Time Warner, GE, Viacom et al., the news is, with a few exceptions, yet another version of the entertainment that the cartel also vends nonstop. This is also nothing new–consider the newsreels of yesteryear–but the gigantic scale and thoroughness of the corporate concentration has made a world of difference, and so has made this world a very different place.