Silicon Alley across the metropolitan region, bolstered by the city's emergence as a global node of creativity and entrepreneurship, social tolerance, and environmental sustainability, as well as New York's position as the leading Internet hub and telecommunications center in North America, including its vicinity to several transatlantic fiber optic trunk lines, the city's intellectual capital, and its extensive outdoor wireless connectivity. The term "Silicon Alley" was derived from the long established Silicon Valley in California. It was originally centered in the Flatiron District, in the vicinity of the Flatiron Building at Fifth Avenue near Broadway and 23rd Street, straddling Midtown and Lower
Concentration of media ownership Media Authority (ACMA). Even with laws in place Australia has a high concentration of media ownership. Ownership of national and the newspapers of each capital city are dominated by two corporations, Rupert Murdoch's News Corporation, (which was founded in Adelaide) and John Fairfax Holdings. These two corporations along with West Australian Newspapers and the Harris Group work together to create Australian Associated Press which distributes the news and then sells it on to other outlets such as the Australian Broadcasting Corporation. Although much of the everyday mainstream news is drawn from the Australian Associated Press, all the privately owned media