Presented to a symposium sponsored by the Federal Trade Commission (FTC) to consider some of the issues involved in the continuing growth of a few large companies in the field of communication, this address cites statements of concern, made by the Supreme Court and by some periodicals, that excessive concentrations of power threaten First Amendment rights. The address indicates that the FTC is concerned not only with possible antitrust action but also with helping the public understand corporate structure; that some of the difficulties in regulating the industry are defining the "media industry," the products, and who the customers are--advertisers or readers; that instances have occurred in which a newspaper was saved only because a large media company purchased it, as in the case of the "Washington Star"; and that sometimes the size of a chain may itself be a protection from economic and political pressures. (TJ)