ABSTRACT
This chapter discusses the importance of a well-defined corporate diversification strategy for media companies, in particular publishing companies, in their attempt to improve their long-term performance. It emphasizes the development of the corporate diversification strategy of media companies has increased in importance due to increasing uncertainty in the media, information, and communications landscape. A company's corporate strategy defines the company's overall mission, specifying achievable objectives, developing strategies, and stating policy guidelines. It deals with some key strategic issues facing the company as a whole. That is, it defines the portfolio of the businesses, markets, and countries in which a company competes through its products and business units. The strategy of a company is a comprehensive plan stating how the company will achieve its mission and objectives. It maximizes competitive advantages and minimizes competitive disadvantages. Publishing companies operate in an industry in which ownership is regulated by both competition law and media policy.
