Market Competition for Cable Television: Reexamining Its Horizontal Mergers and Industry Concentration

This article reviews the recent mergers among multiple-system operators (MSOs), investigates their impact on market concentration, and examines cable multiple ownership rules as well as antitrust applications. The implication of telephone company (telco) entry is then discussed. It was concluded that the exhibition stage of the cable industry is currently moderately concentrated but has reached its highest degree in 20 years. The wave of mergers shifted from the high profile telco-MSO strategic alliances to the major MSOs' consolidations aimed at building efficient market clusters. The trend of market concentration is expected to continue given the current economic and regulatory climate.     

Divestiture Restructuring in the Media Industries: A Financial Market Case Analysis

Abstract

Much attention has been paid to restructuring in the media industries. Most of this attention has been directed at mergers and acquisitions and the associated increase in industry concentration. What has been largely overlooked is the extent of restructuring that reduces the size of media firms—divestitures. This article examines several cases of major media divestitures and calibrates the impact of these sell-off and spin-off restructuring events on the value of divesting firms. The analysis uses case studies and event study methodology. Given that the overall role of managers of large firms is to maximize the value and stock price, this event methodology directly measures the impact of divestitures on this ultimate goal of maximizing firm value. Case analysis examines the managerial strategies that motivated the divestiture event to explore the complexities of the divestiture as it unfolded. Event analysis results confirm abnormal returns that have the potential to significantly enhance the value of divesting firms.     

Mergers and acquisitions in publishing, 1984–1988: Some public policy issues

Recently, foreign and U.S. corporations have purchased a significant number of U.S. publishers. If this consolidation continues, a small number of firms could dominate the publishing and information-processing industry in this nation and the world. Albert Greco outlines the pattern of mergers and acquisitions of U.S. publishing firms between 1984 and 1988; describes some theories explaining the increase in mergers and acquisitions; and examines some key public policy issues.     

Mergers and acquisitions of professional and scholarly publishers: A contrarian view

J. Kendrick Noble seeks the reasons for mergers and acquisitions in schlarly and professional publishing in the desire for market penetration and growth. He also offers a forecast about how long the current wave of merger activity is likely to last. J. Kendrick Noble, Jr., is first vice president of PaineWebber, Inc. and a leading analyst of the publishing industry. Address for correspondence     

Media Concentration With Free Entry

This study develops a free-entry model of competition between media firms, characterizes its equilibrium, and establishes that the industry displays a natural tendency to concentrate. A merger of any 2 firms is strictly profit increasing. Therefore, incentives to consolidate, while maintaining distinct, costly locations (i.e., production units or content), exist. This study distinguishes between post-entry and ex ante consolidation and investigates the properties of the post-consolidation equilibrium. Some firms not involved in any merger may be forced to exit. So, although media mergers may not result in shutting down any of the merging outlets, they still may indirectly affect diversity.     

国外图书馆自动化市场发展特点

总结了国外图书馆自动化市场发展的四个特点:开源代码系统出现及可能带来的影响;公司合并,私人资本进入市场;非自动化产品竞争激烈,将决定市场未来的走向;大量的系统移植.这四个特点奠定了未来行业发展的基础.介绍了国外自动化产品和非自动化产品在国内的销售情况,最后说明了国内图书馆自动化发展的相应情况等.     

How Spanish is ‘Spanish Leather’?

Abstract

Up till now, knowledge of the history of gilt leather is still inadequate. It is little known that there was a huge production outside Spain in different centres in various European countries. This was particularly the case during the seventeenth and eighteenth centuries, the period when the Spanish industry declined severely. This is also the period from which large quantities of gilt leather survive. This paper is intended to give an insight into the role of Spain in this international situation.     

Here Today,Gone Tomorrow: The Vicissitudes of Vendor/Library Relations in the Slavic and East European Book Trade

ABSTRACT

This paper discusses the transformations in the Slavic and East European book trade in the 1990s. Among the challenges these changes pose to Slavic librarians are a profusion of new vendors, very small print runs, and a general breakdown in bibliographic control throughout the region. It argues that vigilant and timely selection is critical in order to obtain materials before they go out of print. Cultivating direct relationships with vendors both in North America and in the region is also required in order to continue to build Slavic collections successfully. It also considers the performance of English language approval plan vendors, electronic vs. print, and the ominous implications that the trend toward mergers and economies of scale hold for library collections.     

Market Reactions to Merger,Acquisition, and Divestiture Announcements in the Media Industries

There has been extensive restructuring in the media industries in recent times. This article examines the effects of large media restructuring transactions on the value of firms engaging in such transactions. It considers all media restructuring transactions with a value of over $1 billion between 1997 and 2008—a time period that included 1 of the largest waves of mergers and acquisitions (M&A) activity in industrial history, and was marked in media by transformative changes in the industry due to digital technology and the loosening of ownership restrictions under the Telecommunications Act of 1996 Telecommunications Act of 1996. (1996). Pub. LA. No. 104–104, 110 Stat. 56.  [Google Scholar]. Over that time period, 57 M&A transactions with a total value of $675 billion and 65 divestitures with a total value of $338 billion were identified. This article employs event-study methodology to calibrate the impact of these restructurings on firm value. Over time, the market was cautious about the ability of media firms to launch successful mergers or acquisitions, with losses for the media acquirers larger than those in cross-industry studies. This is even more pronounced when the acquirer is a non-media firm. Alternatively, divestitures yield positive results for both buyers and sellers. Recognizing the impact that restructuring has on firms, this work provides insights for understanding the market evaluation of future restructuring transactions.     

Export markets and the U.S. motion picture industry

The authors explore the competitive advantage of the U.S. film industry in the world market in light of current trends in revenue streams, exhibition outlets, costs, and changes in production, distribution, marketing, and promotion. The article discusses key legal and trade concerns, and the film markets in selected regions and countries in relation to their impact on the future performance of the U.S. film industry abroad.     

Best of the Industry Information on the Web

Abstract

Industry resources are another important area of business research. This chapter provides in-depth coverage of primary Web sources for industry research.     

The Best of the Web

Abstract

This chapter on hospitality and tourism Web sites includes key sites for the lodging and gaming industries, restaurants and foodservice, and the tourism industry.     

Web Portals

SUMMARY

Key trends and players are changing the information content industry. In her keynote address to NASIG, Leigh Watson Healy provided a “20,000-foot” view of the content industry past, present, and future. Drawing from her experience in the field of educational information and from research conducted by Outsell, Inc., a marketing and research firm focusing on all aspects of the information content industry, Healy invited the audience to challenge the assumptions presented, and encouraged NASIG members to think about the dramatic changes in store for vendors, buyers, and end users of information.     

Critical communication pedagogy as a response to the petroleum industry’s neoliberal communicative practices

Courses: Professional Speaking, Business and Professional Communication, Environmental Communication, or any course covering topics related to neoliberalism and the environment.

Objectives: In this single-class activity, students will first examine the possible environmental effects of fracking near the Bakken Oil Formation in North Dakota. Second, students will evaluate how the petroleum industry obscures the effects of fracking through the use of corporate ventriloquism. Third, students will respond to the petroleum industry’s power by utilizing critical communication pedagogy.     

Broadcast profitability: A comparison of profits from broadcast and non‐broadcast segments of public corporations

To understand the broadcast segments of multi‐industry companies, it is important to consider the revenue demands of their parent companies. This article develops a methodology for analyzing the profitability of broadcast and non‐broadcast segments and applies that methodology in an examination of publicly held corporations.     

On Demand Book Production with New Technologies

SUMMARY

This paper discusses the transformation of the book binding industry and possibilities that binding technology affords today's authors, publishers and book designers. Book manufacturers will endure, although they will be challenged to offer better products with ever faster service.     

Recent Publishing Trends and Developments in Poland

Abstract

The 1990s witnessed great volatility in the publishing industry in Poland. Numerous new publishers emerged while the major ones reorganized. Using the Polish professional literature, attendance at the International Book Fair in Warsaw, and interviews, the author analyzes recent developments in publishing, concentrating on publishing houses.     

Journalism

Marvin Barrett and Zachary Sklar's The Seventh Alfred I. duPont-Columbia University Survey of Broadcast Journalism: The Eye of the Storm (New York: Lippincott & Crowell, 1980---$11.95/6.95).

Herbert E. Alexander's Financing the 1976 Election (Congressional Quarterly Books, 1414 22nd St. NW, Washington, D.C. 20037---$35.00).

Benjamin M. Compaine's The Newspaper Industry in the 1980s: An Assessment of Economics and Technology (White Plains, N.Y.: Knowledge industry Publications, 1980---$24.95).

Mitchell Stephens' Broadcast News: Radio Journalism and an Introduction to Television (New York: Holt, Rinehart & Winston, 1980---$12.95).

James D. Startt's Journalism's Unofficial Ambassador: A Biography of Edward Price Bell, 1869-1943 (Athens: Ohio University Press, 1980---$15.95).     

Industry Sources on the Web

ABSTRACT

Forecasts suggest that changes in the nature of business and trends in business education will lead to a sharp need for and demand for industry information in libraries. The need for industry sources is diverse, ranging from highly specialized to general, and industry information can be found in a broad spectrum of sources. Unfortunately most sources are expensive and so a small undergraduate library will have difficulty meeting demand. To help meet the need for increased use and demand, this paper outlines and provides abstracts to many free sources of industry information available on the Web. While these do not offer a total substitute for commercial sources, they will satisfy some needs, allowing the library to spend its money on information that is not readily found free on the Internet.     

Professionalism among broadcast newsmen in an Urban area

The Cable Communications Policy Act of 1984 was the result of negotiations between local governments and the cable television industry. Not all affected parties agreed the Act would benefit them. The purpose of this survey of local regulators and cable companies was to assess perceptions of current relationships and the perceived impact of the Act. The results indicated that those from the cable industry most satisfied with the status quo were deregulated franchises who felt the new law would benefit them. Local regulators with franchises requiring public hearings prior to changes felt the new law would have negative effects.