THEORETICAL FOUNDATIONS OF GLOBALIZATION AND MEDIA MANAGEMENT: A NEW PERSPECTIVE

In this paper, the theoretical foundation of globalization and media management is primarily examined. The subject of globalization has been widely discussed in the new millennium by the scholars, administrators, activists and others all over the world from media research and communication policy points of view. A substantial amount of research has been carried out on the impact of globalization on media system, management and operations in abroad. Scholars have conducted an extensive and intensive review of major studies about media and globalization. There are several schools of thought in the field of media. The scholars examined television programs, news networks, children's culture and pop music and noted that the adoption of local cultural texts into mainstream U.S. culture provided a greater opportunity for their voices to be heard on a global scale. Scholars have coined a new theory of media globalization which pointed out that feedback in the converged world of digital communication is instantaneous in comparison with traditional analog mass communication. Globalization is commonly used as a shorthand way of describing the spread and connectedness of production, communication and technologies across the world. The effect of the spread of multinational media corporations has resulted in cultural imperialism, a loss of local cultural identity. Scholars have noted that global media adversely affect local culture, value system and public interest because of increasing media monopoly and imperialism. The phenomenon of media globalization along with the increasing abundance of media-text production has produced various effects which are being researched by communication scholars. The media organizations are required to strike a balance between profit motive and service motive in order to achieve the goal of corporate social responsibility in the age of globalization of media.