Final answer:
A franchise in media terms refers to intellectual property that is commercialized across different products and services. Whereas a conglomerate is a large corporation that owns multiple businesses and media networks, which can result in extensive control over the media market.
Step-by-step explanation:
In media terms, a franchise is intellectual property that is made into a range of products/texts. It refers to the practice of a business, the 'franchisee,' obtaining the rights to operate and sell a product or service from a larger business, the 'franchisor.' The franchisor often provides important operational support, training, and sometimes, a well-recognized brand name. In exchange for these benefits, the franchisee pays initial franchise fees and ongoing royalty payments to the franchisor.
A conglomerate, on the other hand, is a large corporation that owns a portfolio of different companies, including many businesses and media networks. In the context of media, conglomerates typically own a variety of media platforms such as television and radio stations, networks, movie studios, and internet media outlets. This ownership structure can lead to a high level of media consolidation, where a small number of conglomerates control a large percentage of the media landscape.