The private media has accumulated a large degree of power since the late seventies, due to the growing deregulation and commercialization of media in Venezuela. In 1979, the Venezuelan government sold Channel 5, a state-owned channel, to the private sector. Through the eighties and nineties, successive governments continued the expansion of concessions to media corporations, leading to the centralization of the media in a small number of conglomerates.
Private television at a national level has been monopolized by the Cisneros group (Venevisión) and the 1BC group of Phelps-Granier (Radio Caracas Televisión). Out of 44 regional television networks, nearly all are linked by chain to private networks Venevisión, Radio Caracas Televisión, Televen, and Globovision. This small group of corporations also control radio-electric spaces and the national press.
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