Socio-cultural change is an invariable concomitant of the politico-economic globalization being embraced by most countries. Yet the interrelated roles of global media corporations and nation-states in the process of globalization have been relatively untouched in global business research. This article examines the role of the global media industry as a cultural change-agent, even a source of cultural imperialism. Drawing on a critical analysis of literature from other social science disciplines, this article argues that media corporations are not solely responsible for the socio-cultural upheaval that accompanies politico-economic globalization. There is also insufficient evidence for the homogenization or Westernization of cultures via the media. Still, given the sensitivity of nation-states to national culture, this article concludes that the impact of the conver gent media, information and communications industry needs to analyzed in the wider context of the global ization of their politico-economic and socio-cultural environments.