Diversification Strategy of Global Media Conglomerates: A Comment

Michael Stephan

Journal of Media Economics, 2005, vol. 18, issue 2, 85-103

Abstract: Chan-Olmsted and Chang's (2003) framework for the analysis of product-diversification strategies of media conglomerates is critiqued from a dynamic resource-based perspective. In the spirit of spurring intellectual debate, this article proposes a revised framework that incorporates newer findings about the benefits of related product-diversification strategies from the strategic management literature. A differentiated view of the "media content" notion is presented that distinguishes between assets, skills, and capabilities and competencies. From this differentiated perspective, I argue that there are 2 types of scope effects: traditional economies of scope that grant the media firm a short-term competitive advantage over rivals and dynamic scope effects that contribute to a sustainable competitive advantage.

Date: 2005
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DOI: 10.1207/s15327736me1802_1

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