Introduction

In the last twenty years, there has been considerable discussion about the transformation of the media industry and its relation with telecommunications, bringing these industries closer and making them more convergent – mostly in terms of content management and distribution. Thus, convergence (especially driven by digitalization and deregulation) can be seen as a characteristic trend. This allows for and encourages a confluence between platforms that used to be treated as separate entities in policy issues and which did not often compete directly.

Due in large part to the severe economic recession, media companies in many information markets are not as profitable as they were in the past (especially in Europe and the United States), and traditional business models are no longer as valid as they used to be in the twentieth century. Also, the competition with digital and internet-based firms and online streaming services is growing. This has changed the competitive situation for traditional media companies.

The media industry is characterized by radical disruption and is going through a period of accelerated transformation. This has deep effects on management strategies and practices within and across media companies and industries. It is equally clear, however, that we find divergent characteristics among media industries that recommend distinct practices and strategies for responding to the specificities of diverse media companies and products. Demands on management competencies regarding key media-related practices and strategies are different depending on whether we are referring to a regional newspaper, a national telecommunications company or a transnational television company.

Nonetheless, many media industries are converging and companies are increasingly conglomerated. According to Gershon (2009, p. 269), ‘the clear lines and historical boundaries that once separated the fields of broadcasting, cable and telephony are becoming less distinct. A natural convergence of industries and information technologies is blurring those distinctions’. Thus, today's media managers face new industry players and more diverse issues compared with years past.