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Diversification Strategy of Global Media Conglomerates: A Comment

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  • Michael Stephan

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.

Suggested Citation

  • Michael Stephan, 2005. "Diversification Strategy of Global Media Conglomerates: A Comment," Journal of Media Economics, Taylor & Francis Journals, vol. 18(2), pages 85-103.
    • Handle: RePEc:taf:jmedec:v:18:y:2005:i:2:p:85-103
    DOI: 10.1207/s15327736me1802_1
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