This chapter discusses media industry consolidation in the 1980s. During this decade nearly all the Hollywood majors became subsidiary divisions within giant corporations seeking to diversify their investments. One of the most significant examples of media conglomeration came in 1989 when the publishing company Time Inc. merged with Warner Communications Inc. in a $14 billion deal. The chapter also includes the study, ‘Return to Oz: The Hollywood Redevelopment Project, or Film History as Urban Renewal’ by Josh Stenger, which examines the means by which the city of Los Angeles has appropriated...

This chapter discusses media industry consolidation in the 1980s. During this decade nearly all the Hollywood majors became subsidiary divisions within giant corporations seeking to diversify their investments. One of the most significant examples of media conglomeration came in 1989 when the publishing company Time Inc. merged with Warner Communications Inc. in a $14 billion deal. The chapter also includes the study, ‘Return to Oz: The Hollywood Redevelopment Project, or Film History as Urban Renewal’ by Josh Stenger, which examines the means by which the city of Los Angeles has appropriated images from Hollywood's past in the name of urban renewal.