This paper examined the political economy of the mainstream and new media, it explicates how media industry, the political economy of the media and capitalism affects the accessibility of information in the new media. The study established that the political economy of the media deals with the generation and distribution of resources (film, social media, online newspapers etc) and that power (capitalism) affects it. The paper’s design method is a narrative literature review and the data sources included Google scholar, blogs, Google, and the web of science. Books, print journals, magazines, were also used. A narrative review was conducted between March –May 2017. The paper outlined and discussed the issues raised, into themes concerning political economy of the media; new media; Marxist and Pluralist view of media ownership; the political economy of the new media and the influence of capitalism on the accessibility of information from the new media. The study revealed that capitalism is one of the driven forces that affects the pluralism and democratization of information on the internet; due to capitalism some classified information are sold and copyrighted
The advent of broadcasting in Nigeria has brought a new lease of life to the communication sphere in Nigeria as it ushered in a new medium of expression and communication for the people of Nigeria. With the introduction of new media technologies came more opportunities to the broadcasting sector in the area of media convergence. The challenges brought by these new media are so immense that no part of the world could afford to be left out in the turn of events. This paper therefore highlights the challenges and prospects of the new media faced by the public service broadcasting in Nigeria. It therefore becomes expedient for the Nigerian public service broadcast sector to avail itself of the opportunities which the new media herald. The paper recommended among others that government as a matter of policy must ensure that there is total removal of all barriers militating against the acquisition of new media facilities for broadcasting in public service broadcasting.