Consumers often do not know that, for example, Disney owns ABC, when they are watching ABC present an ostensibly objective business story about the children's entertainment industry. Consumers may have the illusion of choice because they are watching different channels, without realizing that they may be watching many channels, all owned by the same network or media mogul. Fewer media outlets means less diversity in terms of the range of news stories that is covered, not simply ideology. A narrower range of what is deemed 'important' and 'newsworthy' limits consumer awareness about the world. Although channels have proliferated, watching more channels does not necessarily translate into a new perspective, or even more knowledge. Gaining an audience is an expensive and daunting task for new media companies and FCC regulations that would allow for more mergers, permitting consolidation of up to 45% control in a geographic market, would make it all the more difficult for non-mainstream political and social viewpoints to find an audience.

Furthermore, consolidation also leads to less locally tailored coverage for media consumers. If only a large media outlet controls...

Spanish-speaking programs may not be disseminated into populations that desperately want them, and more liberal or more conservative areas may receive the same bland news coverage as their neighbors.
Even though International Industries Corporation is not officially a local broadcasting company, it is still committed to disseminating a wide variety of points-of-view from around the world. For consumers to realize the value of international news and programming, they must be exposed to it first, and such exposure will be difficult to access if media companies grow ever larger and more expansive in their influence.

References

Blosser, Larry (2010l). Introduction. The case against media consolidation: Evidence on concentration, localism and diversity. Edited by Mark Cooper. Retrieved May 5, 2010 at http://www.fordham.edu/images/undergraduate/communications/caseagainstmediaconsolidation.pdf

The Fairness Doctrine. (2003). PBS. Retrieved May 5, 2010 at http://www.pbs.org/now/politics/fairness.html