To begin with, a corporation is indeed a legal entity that has a separate entity from the owners who are termed as stockholders. On the other hand, a public corporation is indeed a body that is created by the special Parliament Act that defines the duties, power, privileges as well as the pattern of management of the organization. Its key characteristic is that a public corporation is essentially meant to render services, and the making of profits is secondary to its visions and goals.
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Indeed, this is a better way of creating and maintain virtuous and ethics as citizens are given sufficient information so as to make informed decisions for a functioning and free democracy that may be threatened by the increased concentration of ownership.
Shah, A. (2009). Media conglomerates, mergers, concentration of ownership.Global Issues.