1. INTRODUCTION Oligopolies have been around ever since there is trade. However, it has only recently gained grounds in this age of globalisation. Never before has oligopolistic competition been so fiercely contested across so many industries. The media industry in the United States of America (US) is one such industry. As a powerful communication tool, the media has attracted many companies but only a handful has grown big. These media giants have dominated the local market …showed first 75 words of 7197 total…

…showed last 75 words of 7197 total…p. 5. Waterman, D 2004, The effects of technological change on the quality and variety of information products, viewed on 15 October 2004, <http://www.nber.org/~confer/ 2004/URCs04/waterman.pdf>, p. 6. Wells, W, Burnett, J & Moriarty, S 2000, Advertising principles and practice, 5th edn, Prentice Hall, USA, pp. 151, 272. Williams, MF n.d., Principles of economics: Cost of production, viewed on 11 November 2004, <http://www.cooleconomics.com/prin-gen/prin-costs.pdf>, p. 5.