| Popis: |
The media sector is a prime example of an industry where deregulation and rapid technological development have been accompanied by surges of merger and acquisition (M&A) activity during the past decade or so. Though media M&A have been examined quite extensively, research has largely concentrated on aspects such as economic success, competition policy and the impact of consolidated ownership of media content. Overall, though acquisitions have raised interest among several scientific disciplines, the most established paradigms continue to dominate discussions. In accordance with this tradition, acquisitions are generally considered as conscious, planned acts that are driven by rational choice. Meanwhile, alternative perspectives have not gained much ground. The purpose of this paper is to provide a more nuanced understanding of how contemporary acquisitions in the media sector take place and how the examined context and chains of events embedded therein relate to prevailing thoughts regarding acquisition motives. The paper builds on two recent cases from the media sector. In the examined cases “motivation” for the acquisitions rises from the internal and external context of the companies as well as simultaneous moves made by other actors. Such aspects are largely missed from existing models of acquisition motives. The findings point to extending current understanding on acquisitions from viewing them exclusively as bold acts to seeing them also as reluctant moves. This notion opens ups new areas for research and for the reinterpretation of existing research in order to increase understanding on acquisitions outcomes as well as acquisitions as outcomes. |
