The Murdochs have been in the news lately with Lachlan Murdoch spitting the dummy and leaving the New York court of the media Sun King.
News Corporation wants to expand its British television and radio interests; and its Australian media interests. Deregulating the commercial media and communication markets means newspapers getting together with radio and TV ownership.
It is one way to represent the formation of global culture.
We usually regard global culture and American culture as synonymous---global culture is a monolithic entity foisted on the world by the American media.
It's defenders say that American popular culture less imperialistic than cosmopolitan. Instead of American mass culture transforminmg the world into a replica of the United States America's dependence on foreign cultures has made the United States a replica of the world.