Political Economy Theory: Does the structure of the media

In the case of media ownership, “Private individuals decide what information should be provided to the public based on what earns them the most money. ” _(Androgenic M, 2007)_ The _News. Com. AU_article on _ Namespace_ appears In the National News section and describes the firm grasp and incredible influence the social networking site, established in 2003, has on the internet and throughout the business world. The article is saturated with references to the innovations and stunning success of _Namespace_.

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For example the opening sentence reads “Social networking website Namespace_ has more than 115 million members around the world and already plays a key role In launching music careers, political campaigns and the way people communicate In general. ” At this point a discerning reader should recall that _ News Corp._ bought _ Namespace _ from its co founders Tom Anderson and Chris Dowel ;n July 2005. (Malice O, 2006)_ The propaganda model developed by Edwards S Herman and NOAA Chomsky asserts that information presented to the general public Vela mainstream media outlets will be biased In relation to the Interests of the multinational organizations or media magnetometers that own them. _(Herman & Chomsky, 1 988)_ By publishing an article promoting the dominant discourse that _Namespace_ is a popular, thriving production with unlimited potential, _News Limited _ are encouraging awareness of the website, which in turn provides it with traffic and publicity.

Since _News Corp._ owns _Namespace_ and is a holding company for _News Limited this is a chief example of the propaganda model and reinforces the political economy theory that media content Is affected by media owners. The positive language used in the article demonstrates the power of linguistic intros in promoting a discourse. The writers of the article use phrases such as “it’s just the tip of the ice berg” _(Gad M, 2007)_ to imply there is a wealth of possibilities for _Namespace_ to accomplish.

The website is described as “a platform for individuals to express themselves and socialist. ” _(Gad M, 2007)_ This quote Is relevant to today’s youth. Of all the quotes available from the interviews with the co founders, there is a deliberate choice on behalf of News. Com. AU to feature words such as ’emerging’, ‘prominent’, ‘innovate’, and ‘evolve’ that connote ideas of positive change ND progression. This gives the impression that _Namespace_ is at the forefront of the online social networking phenomenon with millions of individuals flocking to be involved.

These terms are deliberately chosen by _News Limited _ to appeal to advertisers who wish for their products to be seen and purchased by the “trend- setters” in society, and this will consequently benefit its parent, _News Corp._. The article also suggests the potential power Namespace has for advertisers in the future. “Mr. Dowel said mobile advertising would be a lucrative fund source and died would take a more prominent place in the way people communicated and shared their art. ” _(Gad M, 2007)_ It should be noted that _News Corp.. _ along with other media conglomerates, is ultimately a commercial organization. By using _News Limited_’s article to draw attention to the incredible infiltration ratio of _Namespace_ (four million unique accounts in Australia, and 50% of all internet users in America) _News Corp._ is securing advertisers’ interest in _Namespace_. The statement by Walt Disney Corporation CEO, Michael Eisner, is particularly powerful in demonstrating the laity of what drives media conglomerates: “We have no obligation to make history.