For me, it was difficult to read both the Garnham and Chakravartty pieces (which is not surprising, since I come from a purely engineering background, and this is definitely out of my comfort zone). However, while going through the readings, I was constantly reminded of the debate in India about the issue of foreign direct investment (FDI) in Indian companies, especially in the news media. After independence in 1947, the Indian government had prohibited any foreign investment in print media (a law was passed in 1955). But in 2002, the decision was reversed, and now, up to 26% ownership of print media in India can be foreign . However, this came with a rider - foreign investment in news agencies is still barred. This is the first step, in the context of Indian print media, towards what Garnham points out as one of the characteristics of the phenomena of mass media turning into full-scale commodity production:
Increased international competition and the resulting take-over of domestic, national publishing companies, advertising agencies, private broadcasting stations etc. by multinational companies.