This chapter defines and reviews hegemony as a process of moral, ideological, and political leadership by a leading social group attained with the active consent of other social groups. Drawing from a political economy appraisal of global media, hegemony appears constructed by the social practices, social relations, and transnational structures negotiated among leading class forces in multiple nations—with other social classes consenting to existing social relations. Often subsumed under the catch-all term, globalization, transnationalism is distinguished from globalization, international, and multinational media by its structured relations: transnational corporations result from two or more companies from two or more nations cooperatively producing and distributing products, from autos, chemicals, energy, and food to media. From this perspective, cultural imperialism has been superseded by transnational media relations of production and distribution. Leading national media have developed joint ventures and coproductions with national media everywhere—combining media from China, India, France, Germany, Brazil, Mexico, Nigeria, South Africa, the USA, and most every nation. This condition no longer indicates domination by Western media, but indicates shared production, distribution, and profits by and for transnational media that are cooperatively constructing a global cultural hegemony of consumerism and capitalism. Evidence of transnational media is provided by multiple examples of media partnerships and social relations of production among US, European, Asian, African, and Latin American media programming.