In the past twenty years, the U.S. media industry sensed consolidation due to number of media mergers including TV, radio, film, publishing and online holdings. An oligopoly has emerged due to control of few big corporations on several media outlets. MTV of Viacom’s acquired Harmonix Music Systems. Viacom formed joint venture with the Indian media company Global Broadcast news. News Corporation acquired Fox Broadcasting Company. The media industry is leaded by few market players such as Viacom, CBS Corporation, News Corporation, Walt Disney Company, Time Warner and GE. In addition, any merger or acquisition within top players across different media segments like acquisition of Fox by News Corporation may lead to significant consolidation of market forces which may lead to increase the competition within the industry.

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