Terms and Definitions

Question 1

Production

Answer 1

This is the making of a media product and includes the full production process from pre-production to post-production.

Question 2

Specialist Providers

Answer 2

These are media companies that produce and distribute products within a specific medium such as film, television and video games.

Question 3

Institution

Answer 3

Media institutions tend to be large global corporations such as broadcasting companies, newspaper and magazine publishers, film production companies, music and publishing companies, and some governments.
Introduction

Question 4

Conglomerate

Answer 4

A large organisation that is made up of a number of different businesses. Many of the most well-known global companies are part of a larger media conglomerate.

Question 5

Subsidiary

Answer 5

A company owned or controlled by another company.

Question 6

Cross-media ownership

Answer 6

A conglomerate that produces more than one type of media.

Question 7

Vertical Integration

Answer 7

This is where a media company has the ability to control the production, distribution and, in some cases, the exchange of a product. It is sometimes known as the value chain.

Question 8

Horizontal Integration

Answer 8

when a media company owns several companies within the same media areas. The media company will utilise the assets of its subsidiary companies to support the marketing process of a major product or brand.

Question 9

(Commercial) Synergy

Answer 9

the increased efficiency and profit that occurs as a result of vertical and horizontal promotion. Conglomerates are formed to create synergy in order to cross-promote.

Question 10

Independent companies

Answer 10

Independent companies operate differently to conglomerate companies. They work with other companies on joint venture projects. Independent companies tend to be specialist providers of just one specific type of media and are free from the control of a conglomerate.