This illustration (above) hits certain points that go beyond statistics and its nicely designed visuals.
It is overwhelming because it confronts the average person to continually rethink the source of their entertainment and mass media consumption. Most likely these major players in US media are ruthless in consolidation, through joint ventures, alliances and so on, essentially to prevent financial instability. In my opinion perhaps that is why they are acquiring as much as they can, every possible player in the industry that they regard as a threat.
Consequently this illustration does not take into account implications stemming from the new challenges brought about by the digital and social media revolution these past few years. Even so, these companies have all existed long before the advent of blogs, social media etc. and have the influence, resources and power to keep them very much afloat to this day.
It would be interesting to come up with a version of this for other regions especially in the fast-growing economies outside North America and Europe. Are the traditional media players in the US now culminating into something that is sort of a dead end? What is next?
It is an endless debate on government regulation, undemocratic practices and other economic and social effects. But overall I think this illustration does a good job in communicating quickly what would otherwise be more difficult to understand in accounting documents or as a case study.
Source: http://frugaldad.com/2011/11/22/media-consolidation-infographic/ (complete illustration here)