ABSTRACT
This chapter extends the analysis of scrutinizers to an analysis of the role of the media. We start by discussing the media in general, and business media in particular, as embedded in institutional processes in which perceptions and social judgments of corporations are shaped and diffused. Thereafter, we provide a historical overview of the growth of business media and media coverage. We offer then a typology of the roles of business media by focusing on four roles in which media interact with corporations, alongside plain scrutinizing also the roles of informing, agenda-setting and legitimizing. These roles are contrasted by various corporate responses: (1) news providing, (2) organizing of media interactions and (3) co-creating of field-level practice that guides the long-term corporate media interactions. We conclude the chapter by pointing to the processual dynamics that are found to be reminiscent of those in typical governance relations: mutual dependence and negotiation of solutions.
