From the mid-1970s Western societies faced a "long downturn" from a circle of high profits, investment rates and productivity to years of recession and developing widespread unemployment caused by lower profits, investments and productivity. To counter this trend, policy makers in the US and Europe unleashed a vast market deregulation. This work analyzes the role of the media sector throughout this transition period. Neoliberal policies resulted in a breathtaking development of big, transnational media conglomerates and internationalized advertising, thereby triggering...