JL MC 101 Lecture Notes - Lecture 8: Clayton Antitrust Act, Concentration Of Media Ownership, Nbcuniversal
15 Dec 2016
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One firm dominates production and distribution in a particular industry: oligopoly. A few firms dominate an industry: limited competition. Many producers and sellers, but only a few products within a particular category. Collecting revenue: direct payment by consumers who pay directly for a book, movie, album etc. Indirect payment primarily through advertisers, that pay for the audience that medium delivers: many forms of mass media use some combination of both. Commercial strategies executives look for the most advantageous balance: price, length, frequency, tolerance, data mining and privacy, regulation. Major regulation legislation: sherman antitrust act (1890) Outlawed monopoly practices and trusts that fixed prices to force out competition: clayton antitrust act (1914) Prohibited manufacturers from selling only to those that agree to reject business with rivals: celler-kefauver act (1950) Limited mergers and joint ventures that reduced competition. Escalation of deregulation: carter, reagan weakened controls, some thought deregulation would lower prices and others predicted mergers both were right, telecommunications act of 1996.
