"[T]wo thirds of the newspaper markets in America are monopolies. … [As a result,] reporters, editors and critics become caged birds singing the company tune in the information-commodities racket. When they begin to have more in common with the chairman of the board than with the working stiffs who read and watch, journalism turns to slush …. I keep coming back to the subject of media conglomeration because it can take the oxygen out of democracy. The founders of this country believed a free and rambunctious press was essential to the protection of our freedoms. They couldn't envision the rise of giant megamedia conglomerates whose interests converge with state power to produce a conspiracy against the people. I think they would be aghast at how this union of media and government has produced the very kind of imperial power against which they rebelled. "
From an essay by Bill Moyers named Media and Democracy.