There are several types of media. The first type is corporate and commercial. They are owned and run by for profit corporations. Their reason to be is to sell "copy", and by selling you copy they also, because they are commerical, sell you tootpaste and lifestyles the things that allow them to sell copy hence their sensationalism: did you know Marion Morrison wore a toupee and had sex with n, and may have even smoked some Mary Jane?
The US's CBS, NBC, NY Times, Washington Post, Canada's CTV and the Globe and Mail, and Britain's ITV and The Times (owned by oligarch Rupert Murdoch), are examples of corporate media. There are variations in them given the political contexts in which they operate. I think ITV, British commercial TV, still fills 50 minutes of a 60 minute time slot (instead of the 42 minutes on US commercial stations, something that points up the power of corporations and the nature of the commercial media in the US) because of government regulation. With the rise of right wing populist Toryism in the UK, however, regulation has been relaxed and ITV, which initially had something like fourteen somewhat autonomous regional bodies within itself (example: London Weekend TV), is now controlled by two.
The second type of media is public and corporate. They are also supported by advertising revenue in the form of ads at the beginning and ends of programmes. They do, however, tend to be much less sensationalist in their selective journalism and hence often subscribe to parochial ideologies of journalistic practise. They are, in other words, embedded and inscribed within, thanks to sociallsation, certain ideological grounded "realities".
America's PBS and NPR, Britain's the BBC, Canada's the CBC,
Australia's ABC, and Denmark's DR, are examples of public corporate
media. Some corporate media, like PBS, gets private funding via ads at
the beginning and ends of TV programmes. The CBC, in addition to
government funding, has advertising. It has a mandate to emphasise
Canadian content hence Heartland and Murdoch Mysteries and Schiitts
Creek. The BBC is funded a licence fee, that the Tories want to do away
with, and has no commercials. All that said, the Beeb has to cowtow to
the oligarchic powers that be thanks to their control of the extent or
even the existence of the licence fee. Needless to say, the Beeb has
been one of the most significant media for years producing things like
Doctor Who, Monty Python's Flying Circus, and Fawlty Towers.
A third form of media is the sensationalist and targeted type of media. They are interested in selling product (political and ideological product rather than toothpaste) to an ideologically and sometimes ethnically segmented audience. They tend to influence true believers and their viewing numbers are exaggerated. Like the sensationalist corporate media the politically and ideologically correct media mirrors the lowest common denominator. Additionally, they don't create divisions, they mirror them. Fox and MSNBC are examples of corporate segmented politically and ideologically correct media. UK Murdoch owned The Sun, a host of Murdoch media in Australia, and, though not as much as it used to be Canada's National Post, are examples of politically and ideologically correct newspapers.
A last form of media is independent media which is not corporate. It is widely present on the internet but not widely read. Thanks to their limited sensationalism, their dissident nature (making them more factually accurate), and the fact that Mericans don't read much, independent media are at a significant disadvantage in the early twenty-first century "media market".
Examples of independent media include The Guardian (UK), which has its own endowment fund. It, however, as bureaucracies tend to do, has become more like other media over time (isomorphism). The Sanctuary for Independent Media in Albany, Substack, which Chris Hedges and Glenn Greenwald now write for, are examples of independent, independent of corporate and corporate political control. They function largely because of contributions and, presumably, their reporting is sensitive to funding realities.
These are all ideal type forms of the media. Ideal types, a method developed by Max Weber, is a helpful analytical tool that allows one to break down and define similarities and differences in bureaucracies, such as the media, across space and time. In practise, however, as The Guardian points up, there is much similarity between some independent media forms and the corporate and corporate political media forms because they often share the same ideologically constructed understandings of how to do journalism and they exist within and are affected by market and funding realities. Additionally, we should never forget that ITV, because of the Beeb and its monopoly until the 1950s, produced and produces high quality very intellectually oriented shows like Inspector Morse and Lewis.
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