Global capital and media communication ownership in New Zealand
Pacific Journalism Review
Wednesday, October 12, 2011
Myllylahti, M. and Hope, W. (2011). Global capital and media communication ownership in New Zealand. Pacific Journalism Review, 17(2): 188-209. ISBN 1023-9499
Full text: www.pjreview.info/articles/global-capital-and-media-communication-ownership-new-zealand-515
This article identifies recent developments in the ownership and management of New Zealand media institutions since Bill Rosenberg’s 2009 article in Pacific Journalism Review. Aotearoa-New Zealand is enmeshed within global capitalism; a reality which shapes contemporary ownership patterns. Often the media ownership discussion in New Zealand is centred on media moguls, but they are answerable to their investors, shareholders, international investment banks, fund managers and venture capitalists whose primary objective is to maximise profit rates. New Zealand media corporations treat news as a commodity and news organisations as revenue generators. Consequently public media space is shrinking as the practice of journalism declines.
KEYWORDS: media ownership, convergence, global capitalism, financial institutions, concentration