To the issue of negative effects of media concentration for the U.S. media market
The present article represents the analysis of the modern radio market in the USA and its transformation under the impact of the media concentration process. In the majority of countries media consolidation has already risen up to the point where market competition is either absent or is becoming oligopolistic, hence the relevance of this study. In this article the issue is illustrated by the case of iHeartMedia - the largest radio broadcaster in the country. The author analyzes the corporate policy of iHeartMedia, its interaction with the audience, newsmakers, representatives of the music industry and antitrust authorities, and assesses how effectively the company’s radio stations work while executing the informational, social, cultural, and other media functions. This paper presents up-to-date figures on the U.S. radio market and the recent reforms in the field of electronic media law. The research allows the author to draw a conclusion about a connection between the high level of media concentration and the media’s inability to meet the sociocultural needs of the population, and to predict further acceleration of media concentration due to the policy of the present Administration, which seeks to deregulate the media industry and to lift antitrust barriers.