Final answer:
The assertion that large companies are increasingly dominating the magazine business is true. Media consolidation has led to a decreased number of independent media sources, with a few large companies, such as Comcast and Disney, controlling the majority of media outlets.
Step-by-step explanation:
The statement that large companies are increasingly beginning to dominate the magazine business is true. Media globalization has been greatly influenced by multinational corporations which control a substantial portion of the media content and distribution. Evidence of this can be seen in the significant decrease in independent news sources due to the development of larger conglomerates. For example, in the United States, media consolidation has led to a scenario where a handful of companies control a majority of the media outlets. Back in 1983, fifty corporations owned most media outlets, whereas today, only a few companies have control over 90 percent of media outlets.
This oligopolistic trend shows that while there appears to be a wide array of media choices, in reality, the market is dominated by a few large firms such as Comcast, the Disney Corporation, Time Warner, CBS, and Viacom. They own major television networks, production companies, popular cable channels, major movie studios, magazines, book publishers, top recording companies, and have considerable stakes in internet media. As a result, the type of information the public is exposed to could be influenced by these large entities. The effect is particularly evident in the magazine industry where, despite the presence of thousands of titles, around one-third of the industry's revenue is accounted for by merely five publishers.