Neoliberal restructuring of the global communication system: mergers and acquisitions

Abstract

This article examines the neoliberal transnationalization of the communication industry via consolidation. It analyses foreign and domestic investment activities in the communication industries through mergers and acquisitions (M&As) in the broadcasting, advertising, newspaper and telecommunications ( basic services) industries between 1983 and 2005. The article discusses the way in which the two most significant events in the global communication system - the 1996 Telecommunications Act and the 1997 WTO agreements as major neoliberal reforms - have changed the landscape of the global communication industry. Finally, the article explores the role of the US corporations - which have been considered the key players in the global communication system - in the global M&A market to determine whether, in the midst of neoliberal globalization, non-Western countries have expanded their influence on the global communication system through investing their capital.