Deregulation, Privatization, and the Changing Global Media Environment
Today, the level of economic restructuring and consolidation is unprecedented in the history of international business and cornrnerce. The globalization of economic activity has forced many nations of the world to carefully consider their national economic policies. The once sacrosanct governrnent monopolies, including airlines, steel, and telecommunications, are feeling the international winds of change. There is a growing realization that if such government-protected monopolies do not move fast enough in providing advanced services at the right cost, they will soon find themselves being outperforrned by their international rivals. The result is a worldwide movement to deregulate government involvement in business and to privatize or sell off state-owned companies.