Abstract
Guosong Shao, “Acquisitions or Alliances. Examining U.S. Media Companies’
Digital Media Strategies,” Journal of Media Business Studies,7(1):21-39
(2010).
Key Words: corporate strategy, corporate venturing, media firms, digital strategy,
acquisitions, equity alliances, non-equity alliances
This paper examined how media firms chose among acquisitions, equity alliances, and
non-equity alliances when they decided to venture their digital business. The dataset
covered 292 deals made by 20 U.S. media companies of the Fortune 1000 in the 2000s.
The results showed that the choice was a function of strategic objectives (e.g., product
extension and market extension), market factors (e.g., market uncertainty and
competition), and media firms’ attributes (e.g., technological intensity, relative size, and
diversification level).
Guosong Shao, “Acquisitions or Alliances. Examining U.S. Media Companies’
Digital Media Strategies,” Journal of Media Business Studies,7(1):21-39
(2010).
Key Words: corporate strategy, corporate venturing, media firms, digital strategy,
acquisitions, equity alliances, non-equity alliances
This paper examined how media firms chose among acquisitions, equity alliances, and
non-equity alliances when they decided to venture their digital business. The dataset
covered 292 deals made by 20 U.S. media companies of the Fortune 1000 in the 2000s.
The results showed that the choice was a function of strategic objectives (e.g., product
extension and market extension), market factors (e.g., market uncertainty and
competition), and media firms’ attributes (e.g., technological intensity, relative size, and
diversification level).
