Well, I wish I knew all about this before I traveled to Brazil last week… MediaChannel.org contributor Carlos Castilho writes about Globo, the media monstrosity in Brazil, and asks, “Is this the end?”
Think media ownership problems are limited to the U.S.? Think again. An on-going struggle in Brazil makes disputes over American-owned Big Media look like a game of Monopoly.
You had me at “Think”, Carlos. One whiff of this story and I knew something had to be cooking burning. The article focuses on Globo, which owns a piece of every type of medium in the Brazilian market. While it’s great to have a whopping 60% of all television viewers, it’s unfortunately not surprising that they have obtained 55% of all debt owned by the media companies in the market.
By this account, Globo could fall down - and I mean all the way down the stairs - if they aren’t able to secure funding to cover their short term debts. This is one to watch, even if you’re not an ambulance chaser, frankly.
