Economy of New York City feet (37.2 million m) that same year, is the largest central business district in the world. New York City is distinctive for its high concentrations of advanced service sector firms in the law, accountancy, banking and management consultancy fields. It is the top global center for the advertising industry, which is metonymously called "Madison Avenue". Silicon Alley, metonymous for New York's broad-spectrum high technology sphere, continues to expand. Finance, high technology, real estate, insurance, and health care all form the basis of New York's economy. The city is also the nation's most important center for mass media, journalism, and publishing.
Concentration of media ownership Council in 2007, the issue of media concentration was discussed, but it did not represented the core of the debate. In 2003, the European Commission issued a policy document named "The future of European Regulatory Audiovisual Policy" which stressed that, in order to ensure media pluralism, measures should aim at limiting the level of media concentration by establishing "maximum holdings in media companies and prevent[ing] cumulative control or participation in several media companies at the same time". In 2007, reacting to concerns on media concentration and its repercussion on pluralism and freedom of expression in the EU member states raised