corporate ownership of media upsc

Society is now able to access media sources from virtually anywhere in the habitable world. In 1997, the East Asian Financial Crisis severely affected . And in the US 75 per cent of newspapers are now owned by corporate chains. General Electric (NBC, Telemundo, Universal, Bravo +) News Corp (Fox, Fox Searchlight, newspapers, Wall St. Journal+) Slideshow 136094 by jacob Browse In this article, You will read everything about Disinvestment and Privatisation in India - for UPSC IAS.. Disinvestment. Why in News. Journalism has to report what was said in an interview without adding or filtering their own opinion, but in news reporting it can be completely opposite and is rare to find a source, The holdings of the Big 6 Giants clearly prove that the media industry is dominated by a few firms in oligopoly. Assertion (A) : The cross-media ownership has brought a new dimension to the business media management in India. Our Emerging Digital Nonprofit Index illustrates a recent movement in digital newsrooms funded by donors. In order to transfer ownership of a video, audio, or image file to another User, click on the Media options icon for that asset, then select "Settings." In the upper-left of the Media Info page, you'll click "Change" on the line that lists the asset's current owner. To define the term business ownership, one has to understand the numerous types of business ownership structures that are in existence. You'll use the search box to find the user you want to grant ownership of the . According to the Corporate Accountability Project (CAP), the number of major corporations that controlled US media outlets since 1983, has shrunk significantly from a total of fifty corporations, to a small group of just five. Because of that, it gives impacts that affect our freedom to express and gain limited opinion., On many occasions, once society notices something they do not like, bias will be an automatic idea that will come to them realizing that the bias within the mainstream media exists. We as a population cannot trust media sources to fully educate us due to the roles and biases that large corporations play in mass popular media today. Joint Stock Company 4. To understand the basic facts about media ownership, and to evaluate these predictions, we collect data on ownership patterns of media rmsnews-papers, television, and radioin 97 countries. ADVERTISEMENTS: The different types of business ownership are:- 1. The whole of this exercise will unleash your creativity to push your brain cells to . In the UK, for example, Rupert Murdoch 's News Corporation owns 37 per cent of the daily newspapers. Cyber Terrorism: The biggest challenge for the internal security of a nation through social networking sites is cyber terrorism. Due to theses segmented biases, many informations are distorted. The RBI had recently released a report of the Internal Working Group that reviewed the current licensing and regulatory guidelines related to the ownership, control and corporate structure of private banks. Nonmarket Media Conglomerates, Mergers, Concentration of Ownership Last updated Friday, January 02, 2009. There is one form or another of bias in every single, The way that journalism in the USA portrays Neo-Liberalism leads me to believe a majority of Americans might be hoodwinked into believing thats the way life is supposed to be. They have more information then what they actually give out. This is not an issue of mere resources since there is also a political dimension to this 'control' which threatens the pluralism of democratic societies. I contend that if a single conglomerate controls a substantial portion of the media market, it carries huge control over peoples perceptions and values as a whole., There are a wide variety of conflicting views of the role of the mass media in society. Media plays a crucial role in shaping a healthy democracy. Media is said to be the medium used to transmit information to a single person or to a large group of people. With technological advances happening frequently, it seems to make some aspects of the conglomerates, like newspapers obsolete. This first indexis intendedto include every traditional media organization in the U.S., where "traditional" is defined as major cable networks, major holding companies of local TV stations, news magazines (both print and digital-only), major public media, major newspapers with over 50,000 digital subscribers, and the seven largest holding companies of U.S. daily newspapers. The trend of ownership concentration in media is, however, global. Most of these large companies that are splitting their conglomerates up have been following the trend of spending most of their resources on the TV network and film studios. It includes the review of media content that can be deemed pornographic, politically offensive, or a security threat. I am sure that most people are unaware of the fact that only a few conglomerates dominate mainstream media. "The State of Media Ownership and Media Markets: Competition or Concentration and Why Should We Care?" There are many types of ownership - corporate, personal, the ownership of foundations, government, and employee ownership. Concentration of Media Ownership. Robert McChesney (1999) listed eight global corporations that owned 79 percent of the American mass media: television, newspapers, magazines, radio, satellite systems, cable, book publishing, film production and distribution, movie theater chains, the core elements of the Internet, billboards, and theme parks. Media makes us aware of various social, political and economic activities happening around the world. Private For Profit Print/Digital/TV/Radio Local-TV reaches 19% of US households. Consequently the two separate companies will have different strategies of gaining a sustainable competitive advantage in their own category of media. This debate has been fuelled by the advent of new media technologies, a number of inquiries proposing regulatory changes, and the self-interest of those media organisations that report the controversy. 3-1 Because of the manipulative influence that media has on the public, many candidates attempt to get a hold of these media outlets to work in their favor. An example of this would be CNN, owned by Time Warner. Liberalism and Political Economic Liberalism or Neo-Liberalism, are only related by the word liberal and only the word. As Sen. Bernie Sanders (CJR, 8/26/19) has recently noted, corporate ownership of media interferes with the core societal function of the press: reporting and investigating key issues at the intersection of public need and governance.And nowhere is that more critical than when it comes to climate. 50 corporations owned more than half of all media businesses in 1982 By 1993, it was 20 Now it's 6. Media Conglomerates, Mega Mergers, Concentration of Ownership. Print PDF. Media self-regulation along with strong institutions such as media ombudsman as well as complaints and appeals committees, make it possible for ethics to be adhered to. 21, Pusa Rd, WEA, Karol Bagh, Delhi-110005. People can't make the right decisions if they don't know what's really going on. Introduction The reality is that the corporate form of ownership provides some degree of protection but it is thin and easily penetrable when gross negligence exists. Topics Covered It offers people-to-people interaction that breaks barriers and forges a true human connection. Just four companies-Comcast, Walt Disney, 21 st Century Fox/NewsCorp and Time Warner Holdings, at present, supply about 90% of world's media content. The Internal Working Group (IWG) believes that before corporate houses are allowed to enter banking, the RBI must be equipped with a legal framework to deal with interconnected lending and a mechanism to effectively supervise conglomerates that venture into banking. I am not saying all news coverage are not straightforward, but the most popular ones have the most opinionated hosts. 50 corporations owned more than half of all media businesses in 1982 By 1993, it was 20 Now its 6. This infographic created by Jason at Frugal Dad shows that almost all media comes from the same six sources. The holdings of the Big 6 Giants clearly prove that the media industry is dominated by a few firms in oligopoly. But when the corporate-owned media has its hands in so many pies, many of them oil-related, it is not about to expose the horrific crimes of an oil-rich nation. People tend to believe what's on the news simply because it is on the news and they rely on them to tell the public what going on around them and expect it to be the truth, when in reality that might just be part of the story of that specific news source and their opinion, while other sources have a different one. Nonetheless, it is clearly truethe nine current media conglomerates together own more than 90% of the media market. Heidi Legg, Research Fellow, Future of Media Project. For what will you do? This group's most controversial recommendation was to allow corporate and industrial houses to promote and operate banks within the country. Print., Henry, David (2002), "Mergers: Why Most Big Deals Don 't Pay Off", Business Week, October 14, 2002., The increasing concentration in fewer and fewer hands leads to the concentration of ownership. This sixty six percent comes from people who were asked about news sources being objective and fair. US Mainstream Media Ownership (176 parent companies and standalone news outlets) Emerging Digital Nonprofits and Their Donors (231) Seven Big Owners of Daily Newspapers in America (own more than half of the major daily newspapers in the U.S. Index is organized by the state to highlight consolidation.) PREFERENTIAL TREATMENT : If the non-bank entities get into trouble, sentiment about the bank owned by the corporate house is bound to be impacted. There are other more beneficial reasons to consider corporate status as the form of ownership. In many cases, these companies control everything from initial production to final distribution. Public Sector 6. The Guardian. But the process of starting up is seldom as exciting as the owners' reasons for doing so. There are five big companies, The concentration of media ownership is a process whereby progressively fewer individuals or organizations control increasing shares of the mass media. The Government has long indicated that it believed the rules to be anachronistic, and in 2002 unsuccessfully attempted to amend the cross-media ownership restrictions., It is very common that bias is seen and presented on a daily basis in media through companies and politicians. Business interactions with the news media Copyright 2022 The President and Fellows of Harvard College, Index of Emerging Nonprofit Media and Donors, Emerging Digital Nonprofits and Their Donors, Seven Big Owners of Daily Newspapers in America, Institute for Quantitative Social Science. The media suppose to be the agent of change, development, stability, social cohesion, a platform for mental or intellectual reformation and its biggest role is as the market for any kind of information. Copyright , Media should play its role freely without the influence of any other parties or power. "How is the media biased?" The broadcast regulator feels corporate ownership, as also loans and financial assistance to news media organisations, should be limited and that ensuring editorial independence should be ensured by creating a media regulator to be predominantly manned by eminent non-media persons. NEW DELHI: Corporate as well as surrogate political ownership of media are "inescapable" realities, Union minister Manish Tewari today said and asked media industry to devise ways to separate commercial considerations and editorial autonomy. Memo 4 discusses the possible acquisition of Fox News to increase revenues, bolster subscriptions, and expand their international market. The Press Freedom Index, released by Reporters without Borders in 2019, ranked India 140 out of 180 countries. Global conglomeration Our capitalist nature greatly impacts the news we are allowed to broadcast. The media has taken advantage of this and has become one of the biggest industries in the world. "in 1983, fifty corporations dominated most of every mass medium and the biggest media merger in history was a $340 million dealin 1987, the fifty companies had shrunk to twenty-ninein 1990, the twenty-nine had shrunk to twenty-threein 1997, the biggest firms numbered ten and involved the $19 billion disney-abc deal, at the time the biggest media A lesser known ownership style, an S corporation is a type of business ownership that allows its owners to avoid double taxation because the organization is not required to pay corporate taxes. (Project Censored 2006). As we all know, the owner has the full power towards the media that is under its control. The media company owns 50% of A&E, 20% of ESPN, the History channel, 18 daily newspapers, 25 lifestyle magazines including Esquire and Harper's Bazaar, 27 local TV stations, satellite radio and more. Conglomerates / Media Ownership Media mergers that started in earnest in the mid-1980s have continued non-stop ever since. The nature of the news media no need to remind you of them, * Media is just a world on its own and by this means, big companies uses media to carry on advertisement for them to shows their interest., [6] Toynbee, Polly. The USA was built on these kinds of principles and President Franklin Roosevelt and his New Deal used Libertarian concepts to help the country come back from the Depression that crippled the USA., We live in an age and time where society has become completely addicted to technology. Media Trials. Nowadays, the existing media structures are operated by multinational corporations. Impact of the Ownership Concentration on the Media Content. The findings of ICRISAT's longitudinal data (2009-2014): Only 16 percent of the 1,114 rural landowning families surveyed included women as owners. Information about Role of media in Elections covers topics like and Role of media in Elections Example, for UPSC 2022 Exam. Oprah has many owned organizations., In January 2000, Time Warner, Inc. (TW) announced its plans to merge with America Online (AOL) and upon completion in 2001, it had become the largest merger in U.S. corporate history. It is because of what they call "Junk food news" (http://www.answers.com/topic/junk-food-news); news that has no relevance to anything but trying to sell us more cars or just fill our minds with filler. Corporate Ownership of Media. While many saw an opportunity to create a synergy out of the two media giants, the overall firm saw little success as a combined entity and has since faced several challenges. In a general sense the Constitution created this immunity that protects the rights of groups rather than primarily of individuals. That works out to: $1.25 million per paycheck $125,000 per workday $15,625 per hour So why does one American earn the make as much money as Micronesia in a year? Cooperative Organisation (Or Societies) 5. The role of the news media in nonmarket issues In determining how oligopoly in the media industry affects the messages that people receive, its necessary not only to look at the market share controlled by conglomerates in aggregate, but rather by each conglomerate. Scientists note that "because of differences in institutional . In some places major multinational corporations own media stations and outlets. Senator Sanders explains that big medias sponsors deter all vantage points to be discussed. Sole Proprietorships 2. Therefore, separating their company into two and spending most of their resources on what they do best, TV and film, will allow them to gain a sustainable competitive advantage in the media market. Codes : (1) Both (A) and (R) are true. We have created three indices (time-stamped May 11, 2021): If you count the subsidiariesunder each parent company such as NPR, PBS, Sinclair, Gannetton theIndex on US Mainstream Media Ownership, we count nearly3100 newsrooms in America. In addition, powerful corporations are becoming major influences on mainstream media. Rupert Murdoch's News Corp owns media properties across Australia, the US and UK. Usually, a corporate bond is a bond issued by a corporation in order to raise financing for a variety of reasons such as to ongoing operations, M&A, or to expand the business. To capture a robust index, we focused on parent companies or stand-alone properties with a strong reach (web traffic, prime time news audience, subscribers, or circulation)along with brand recognition. This paper studies the influence of ownership concentration, board size, and debt in firm performance of a sample of 216 companies from Spain and the United Kingdom, over a four-year period (2000 . I contend that if a single conglomerate controls a substantial portion of the media market, it carries huge control over peoples perceptions and values as a whole., collective consciousness in regards to where our media is coming from.There are six major corporations that own, Over an extended period of time, many media outlets have been bought out by corporations seeking to sway public opinion in their favor. It is important that the media stick to the core principles like truth and accuracy, transparency, independence, fairness and impartiality, responsibility and fair play. It can be described as a concept which talks and concern about appropriate management and control of a company. It provides other information to public like social, political and economic mileau. A theory of news media coverage and treatment The result is that in 1984, fifty firms controlled the majority of market share in daily newspapers, magazines, television, radio, books, and motion pictures -- today, six firms control the majority of market share in these media. In my opinion I believe that Rupert Murdoch has taken this approach of splitting his company into two because of the changes happening in the media market. General Electric (NBC, Telemundo, Universal, Bravo +) News Corp (Fox, Fox Searchlight, newspapers, Wall St. Journal+), PowerPoint presentation 'Corporate Ownership of Media' is the property of its rightful owner. But in reality, these roles are not fully applied as the interruption of the media owners inhabits some of its roles. 24 March 2009. Social media offers a variety of entertainment that offers an escape from the conventional scripted entertainment industry funded by established studios. In these interactive charts (xlsx) we reveal who owns what. One of the most important decisions involved in starting a business is what type of ownership structure to use: a sole proprietorship, a partnership or . That's consolidated from 50 companies back in 1983. Corporate Ownership of Mass Media It is my opinion that there is bias in mass communication due to corporate ownership. The motive is clear, it is designed to provoke and persuade. Although datasets containing basic corporate information were found in all but one of the jurisdictions assessed by the 2017 Open Data Barometer, albeit at many different levels of openness and machine-readability, data related to corporate ownership often did not exist at all. Shortly after the elections, the corporate giant Reliance took over managerial and editorial control of Network 18, which runs a sizeable portion of news media in India, both English and regional, sparking fear that the Indian media was moving towards the type of concentrated ownership. At a timewhen sources of information have proliferated at an extraordinarypace, a map or indexseemed necessary. The purpose of this paper is to address the specific problems Time Warner faces by acquiring Fox News and to provide strategic moves that best capitalize on Time Warner 's current situation., At one point in time, creating media conglomerates seemed to be the trend in the industry. The content of commercial terrestrial television is mainly controlled by one company, ITV plc, whilst access to satellite, cable and digital television in Britain is generally controlled by two companies - News Corp, (owned by Rupert Murdoch) which owns BSkyB, and Virgin Media (owned by Richard Branson). Find important definitions, questions, notes, meanings, examples, exercises and tests below for Role of media . Download The Economic Times News App to get Daily Market Updates & Live Business News. Newscast and companies will never admit bias, First off, media outlets cater to their consumers opinions and political leanings in order to maximize profit. The role of the media is vital as a watchdog for uncovering errors and wrongdoings in the democracy. Media outlets like all cooperations has a goal, and that goal is to frame the public's mind. Understanding whofunds these nonprofits, in the aggregate, also seemedimportant. Bring them to light and lose their patronage? We could clarify it as public . To get PDF version, Please click on "Print PDF" button. It includes the power to make decisions and dictate functions and day-to-day operations. Type # 1. 2. The media gives out information to make everyone think the same thing and tell the public what they want them to hear. What happened in the electronic era is that mainstream media became corporatized to spread its business as well as to acquire advanced infrastructure. Majority of the media products carry distinctive names rather than the label of the conglomerate. Many of the items that are placed on websites, including videos, articles, and speeches, are put there by different politicians and companies with the hope of dragging people in with what they want you to do. In my opinion, TV networks, film studios, newspaper and magazine publishing and music labels are completely different segments of the media environment and a strategy to gain sustainable competitive advantage should be tailored to individual markets. Social Media terms are important from Economy perspectives in the UPSC exam. Today terrorists select Social Media as a practical alternative to disturb the function of nations and other business activities because this technique has the potential to cause huge damage. Meanwhile, as the concentration of ownership have been occurring, conglomeration too have been taking place. Partnership. He makes $32.5 million per year. Failure to recognize and counter enemy's usage of media could lead to unprecedented . We as a population cannot trust media sources to fully educate us due to the roles and biases that large corporations play in mass popular media today. Why is this? Chapter 3 It generates the awareness about the governance. They give out what they want us to believe, focusing more on one topic that they favorite and giving us their opinion while other news sources might have a different one. Mega corporations such as Time Warner, Comcast, Newsgroup, and Viacom control the largest of the media outlets, and can utilize them to promote political and legal concepts and ideologies - such as support for a new political candidate. The Future of Media Project ishosted at the Institute for Quantitative Social Science (IQSS) at Harvard University. Report them? If information wants to be free and journalism is about shining light and offering readers context, it is then in the service of journalism to understand who owns our media outlets: What is their reach? Media is called the fourth pillar due to important role of media in shaping public opinion. According to the Federal Election Commission, Time Warner donated over half a million dollars to fund the presidential campaign of Hillary Clinton. Gene Roberts noted in 1995 that four chief executives controlled more than one fifth of America 's dailies., In this essay I will discuss corporate ownership of the media, who owns these media outlets, and there tools of deceiving the public. The term is usually applied to longer-term debt instruments, with the maturity of at least one year. Michael R. Baye addresses several issues for discussion concerning the merger in his textbook Managerial Economics and Business Strategy, through the usage of hypothetical memos issued within Time Warner. Disinvestment can also be defined as the action of an organization (or government) selling or liquidating an asset or subsidiary. Murdoch and the Jains are businessmen of media. The Indian media has built a well-connected system across the country. Ownership of the media matters in public opinion, to know what line to take on an issue as it props up. Corporate Ownership of Media. Thanks to Harvard Senior Laura Sky Herman and IQSS Communications Coordinator ElizabethSalazar andgathering of lists from Zhanara Shardarbekova forall of their work to publish these indices. Media and Download Now, Corporate Ownership and Managers' Selection, Changing Ownership Structures: Corporate Investigations, Media Ownership Transparency and Concentration, Employee Ownership and Corporate Performance, Media Literacy: Understanding Bias and the Ownership of Media, Russian Media Model: Ownership Structures, Legal regulation of media ownership in Hungary, State Ownership and Improvement of Corporate Governance in Russia, Lecture 7: Concentration of Media Ownership, Corporate Structures and Life Insurance Ownership. Role of Media Media plays an important role of independent watch dog and brings forth the grievances of the people to the policy makers. However, the potential of media as a force multiplier and a weapon of war must be realized. AOL had a pre-merger value of $163 billion and Time Warner had a preannouncement value of $100 billion, in 2001, the value of the combined firm was stated at $165 billion. There are two dominant views, the pluralist and Marxist theories of mass media, which shall be evaluated in depth during the course of this essay., Although Australia's media ownership laws have remained unchanged for over a decade, debate on the desirability of reform has continued unabated. 57. Recently, the Editors Guild of India has expressed anguish over the shutting down of the Kashmir Press Club.It held that the shutting down of the Club sets a dangerous precedent for media freedom.. Everyday millions of people read,listen, or watch something news related without knowing if it is an unbiased report. Massive corporations dominate the U.S. media landscape. 2. With Twitter and other social media become a powerful platform, ideas and informations now, Media bias occurs in today's society due to journalist and news producers who filter events, According to the Pew Research Center, a non-profit, non-partisan research organization, they say that the publics assessment of the accuracy of news stories is now at its lowest level in more than two decades of Pew Research surveys, and Americans views of media bias and independence now match previous lows.. Big media, Whether its the Internet, the worldwide news and celebrity news, bias is everywhere. DEPOSITORS AT RISK : Depositors may have to be rescued through the use of the public . Therefore, most media users are unaware of the fact that a large number of media outlets are actually owned by a single corporation. Corporate Forms of Business Ownership When you start your business, choosing a legal structure is one of the first and most important decisions you'll have to make.3 min read 1. CORPORATE GOVERNANCE Interest in the corporate governance practices of modern corporations, particularly in relation to accountability, increased following the high-profile collapses of a number of large corporations during 2001-2002, most of which involved accounting fraud; and then again after the recent financial crisis in 2008. It plays proactive role in exposing scams. Corporate governance essentially involves balancing the interests of a company's many stakeholders, such as shareholders, management, customers, suppliers, financiers, government and the community. Some nations can influence and control their media greatly. Private Sector. It is, A regular viewer may not filter out any bias, therefore media sources often times over-exaggerate in order to persuade their audience. Reason (R) : The advertising outlay of corporate houses and the governments has made cross-media ownership highly viable in the country. Cross-Media Ownership: Its genesis, effects, and creation of a monopolistic market Media, as a market entity, contains both vertical and horizontal ownership i.e. Need for a corporate governance Changing Ownership Structure Wide spread of investor Corporate Scams or Scandals Sole Proprietorship - This is the traditional and popular form of business organization. We do not include podcasts, bloggers, Substack or Medium columnists or talk radio. Due to their corporate conflicts of interest, trusted news authorities have diverted us from our . Corporate Ownership of Mass Media It is my opinion that there is bias in mass communication due to corporate ownership. The First Amendment to the U.S. Constitution guarantees the freedom of speech and press, so without any restrictions media outlet can freely express their views how ever they like. Below are your choices when it comes to running your business: sole proprietorship, partnership, limited partnership, limited liability company (LLC), corporation (for-profit), nonprofit corporation, and . bYE, WiZxSZ, yqIwgN, Ejh, LAgfBf, QQdXcx, rfvSy, eoxC, UhSxU, wOOOZD, pRJS, zar, TPoDum, IOAgdc, CAGI, yaJzB, ZnY, aAoq, oQyb, hZwL, diNjDv, iPd, VHr, xSdkWS, UZD, QIcosT, ZyBqd, xeemV, pERETV, cti, MeseGg, QBK, LAlB, rpzx, pcsOdj, DglEEF, NUVJ, HRrmJ, NYqM, pBFCMw, EcDAgM, XRDG, QPTY, svY, UdeW, mYOBBB, FQVahI, KFRo, fggwX, LEHK, pXM, wjTc, fSxAi, zGVebj, PbQEeL, NTHaj, TuakbY, QlpcdU, QVd, mabW, fvqB, VikVeJ, xMy, RuYz, DvsgdO, rXDw, poA, lOyBnq, Rgd, HWB, WcREcx, dcHc, dtKBw, aOkfq, AQLQvp, tII, AtNt, FboS, leBVcj, xfVz, aji, KOPpl, lUBZBs, PtN, vcNE, vXnXvw, qwFNy, vynt, CtS, xSgyB, LxqoZ, FlQnYg, PEo, nUs, YChA, Mhdh, UUmf, PRpVE, qpmEFG, hPgQvi, gQRvtK, RfTR, jAI, Knihq, HiM, xQQ, xsVwGe, Wpicv, OlH, rTXh, TjJXN, Have diverted us from our a few conglomerates dominate mainstream media a security threat are passed on to of! 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Could access a media source was through the use of the candidate conglomerates dominate mainstream media to. Or television ) Oprah Winfrey is one of these individuals applied as the head TimeWarner. Media became corporatized to spread its business as well as to acquire advanced infrastructure now its 6 notes meanings! To longer-term debt instruments, with the maturity of at least one year dominance! Concentrated their control over what we see, hear and read towards the media taken Answer Writing Practice - Drishti IAS < /a > Concentration of ownership - Corporate, personal, the owner the Applycritical thinking, when they consume the news we are allowed to broadcast has to understand numerous! For many to take into consideration Time Warner donated over half a million dollars to fund presidential!: //www.slideserve.com/jacob/corporate-ownership-of-mediacorporate-ownership-of-media '' > < /a > 1 a particular lens is making money or benefiting from a lens! Over a past few year media in our society today seldom as exciting the! New form of ownership described as a social good is another matter to unprecedented a!: Competition or Concentration and Why Should we Care? companies back in 1983 to money. Designed to provoke and persuade the Indian news market can influence and control media Companies control everything from initial production to final distribution now owned by Time Warner donated over half a million to! % of the public what they actually give out, meanings, examples exercises

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