The power of Institutions?
Institutional Terminology:
Synergy : the interaction or cooperation of two or more organisations to promote related products.
For example : Disney and Pixar.
Conglomerate : A large company that owns a range of smaller companies.
Example Being : Time Warner Incorporated owns DC comics, HBO, and CNN.
Convergence : Two or more types of media coming together like print, television, radio and Internet.
For example : Television industries are now pushing their audience to watch their products on mobile phone and tablets. A specific example MEO
Media Ownership : When a company produces two or more different types of media.
Example being : Universal releases movies but also releases soundtracks.Cross
Concentration of Media Ownership : The process by which an increasingly smaller number of companies own most media outlets.
Subsidiary : Smaller companies owned by a parent company.
Oligopoly : When a market is dominated by a small number of companies(oligopolists).
Horizontal Integration : Is when an organization grows by buying up competitors in the same section of the market.
For example, when one music publisher buys out other smaller music publishers.
Vertical Integration: When a single company controls both the production and supply of a product.