"Technology + Politics = Deregulation"

In The New Media Giants, David Croteau and William Hoynes discuss how the major merge between Viacom and CBS transform the structure of the media industry toward the end of the 20th century. Throughout the 1960’s, CBS controlled the majority of network broadcasting. CBS owned nine of the ten prime-time shows. As the 70’s rolled along, new regulations were introduced that required “networks to purchase their programs from independent producers. The rules meant that networks could not own their new programs and could not sell the right to air reruns of their old programs.” Viacom was created by CBS to fit the new FCC regulations and the rest is history. Thirty years later, CBS owned 15 TV stations, more than 160 radio stations, and many Internet sites. Viacom grew rapidly as they purchased several companies along the way. One of their many billion dollar spendings included Paramount, MTV, Nickelodeon, Showtime,and TNN. Several of these cable channels went on to be an international success. Nickelodeon and MTV continue to operate through cable network on a global level. Nickelodeon broadcasts its programming to over 100 countries. Growing up, I distinctly remember watching Nickelodeon in the kitchen of my grandmother’s home in Argentina. Both Crouteau and Hoynes voice the universal questions, “Why was a much smaller media company being broken up in 1971 under the fear of monopoly, while a much larger company was allowed to keep growing in 1999?”