ABSTRACT
This chapter outlines the main areas of studying media in an economic context: the economic value to societies of the media industry itself and the way in which that importance affects media ownership. It begins by charting the links between the media and economics. It then explores the character and structure of multimedia conglomerates before placing these institutions in a critical context through theories of political economy that address the effects of conglomeration. Marxist approaches to the media are then discussed. The chapter goes on to explore public service broadcasting (PSB) and the implications of state-owned media. Finally, there is a consideration of the film industry in the broadest context of the global economy.
