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  3. The most noticeable trend among today’s media companies is vertical integration—an attempt to control several related aspects of

The most noticeable trend among today’s media companies is vertical integration—an attempt to control several related aspects of

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问题     The most noticeable trend among today’s media companies is vertical integration—an attempt to control several related aspects of the media business at once, each part helping the other. Besides publishing magazines and books, Time Warner, for example, owns Home Box Office (HBO), Warner movie studios, various cable TV systems throughout the United States and CNN as well. The Japanese company Matsushita owns MCA Records and Universal Studios and manufactures broadcast production equipment.
    To describe the financial status of today’s media is also to talk about acquisitions. The media are buying and selling each other in unprecedented numbers and forming media groups to position themselves in the marketplace to maintain and increase their profits. In 1986, the first time a broadcast network had been sold, two networks were sold that year—ABC and NBC.
    Media acquisitions have skyrocketed since 1980 for two reasons. The first is that most big corporations today are publicly traded companies, which means that their stock is traded on one of the nation’s stock exchanges. This makes acquisitions relatively easy.
    A media company that wants to buy a publicly owned company can buy that company’s stock when the stock becomes available. The open availability of stock—these companies means that anybody with enough money can invest in the American media industries, which is exactly how Rupert Murdoch joined the media business.
    The second reason for the increase in media alliances is that beginning in 1980, the Federal Communications Commission (FCC) gradually deregulated the broadcast media. Before 1980, for example, the FCC allowed one company to own only five TV stations, five AM radio stations, and five FM radio stations; companies also were required to hold onto a station for three years before the station could be sold. The post-1980 FCC eliminated the three-year rule and raised the number of broadcast holdings allowed for one owner. This trend of media acquisitions is continuing throughout the 1990s, as changing technology expands the market for media products.
    The issue of media ownership is important. If only a few corporations direct the media industries in this country, the outlets for differing political viewpoints and innovative ideas could be limited.
What is the FCC’s new policy regarding media alliances?
选项 A、It allows companies to sell their stocks publicly.
B、It doesn’t allow companies to sell their stocks publicly.
C、It permits one company to own more media businesses at the same time.
D、It has eliminated all post-1980 companies.
答案C
解析 本题问关于传媒业的合并FCC有何新政策。利用查阅式阅读法，我们发现第五段提到产生兼并热潮的第二个原因。从1980年以来，FCC逐渐地取消了对广播传媒业的限制，例如，在1980年以前，FCC只允许一家公司拥有5个电视台、5个AM中波和5个FM调频广播电台，并且公司必须拥有某个广播台3年以后才可以出售。FCC于1980年取消了关于3年期限限制，增加了传媒公司拥有广播台的数量。技术的进步扩大了传媒产品的市场，使得传媒公司的兼并热潮一直持续到整个90年代。因此，本题的正确答案应是C“它允许一个公司拥有多种经营业务”。
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