ABSTRACT
The second trend has been globalization. In 1967 the first commercial satellite was launched into space by the United States, signaling a new era of global communication. In particular, the last twenty years have seen tremendous expansion in the global media sector, as the commercialization of television channels spread from Krakow to Beijing. Glamour and Cosmopolitan magazines, which had long circulated between New York, Paris, and London, now offered fashion advice to women from Rio to Singapore. Meanwhile, corporate Web sites allowed consumers to access information about their products from anywhere around the world. In this newly networked world, global media conglomerates sought to exploit their ability to straddle world markets by creating synergies across their media holdings, syndicating programs, program formats, celebrities, and merchandising for global distribution.
