"Big media today wants to own the faucet, pipeline, water, and the reservoir. The rain clouds come next."

To get a flavor of how consolidated the industry has become, consider this: In 1990, the major broadcast networks--ABC, CBS, NBC, and Fox--fully or partially owned just 12.5 percent of the new series they aired. By 2000, it was 56.3 percent. Just two years later, it had surged to 77.5 percent.

Ted Turner/WashingtonMonthly July/August 2004