ACTIVITY 1 KEY TERMINOLOGY

A large business corporation that is comprised of a range of different parts or smaller businesses	Congolomerate
This is when a Media Company owns different businesses in the same chain of production and distribution.	Horizontal integration
This literally means ‘to work together’ and is where one form of media product ‘cross sells’ another form of media product to their mutual advantage of increasing sales/audiences.	Convergence
This means  that there is a diversity of viewpoints available and consumed across and within the media industries and prevents any one media owner or voice having too much influence over public opinion and the political agenda.	Plurality
This is the process of how the media product gets to its audience after production	Distribution
This is when a sector of the media industry such as newspapers is dominated by one or a small number of large organisations.	Monopoly
This is where a media company tries to maximise its power and profit by combining elements of its business into a more concentrated and more effective model.	Consolidation
This is the process of a company expanding its media production in the same area of media. For example, one newspaper company buying another newspaper company. This can happen by internal expansion, merger or takeover and can lead to a monopoly.	Synergy
This is where two or more companies, usually of similar size, combine to form a larger single company.	Merger
This is where a larger company buys a smaller company	Takeover
This is the combination of different areas of the media coming together to maximise profit	Vertical Integration