The Minimum Viable Multinational Media Conglomerate
Plus! Bad Airlines News, Good Cruise Lines News, Adpocalypse, Layoffs, Momentum, Mean-Reversion
A media conglomerate has the same basic business model as a slaughterhouse: your inputs are a bundle of heterogeneous products (like, say, a pig), and your output is everything that those ouputs could possibly be used for. One of my favorite business deals of all time was Ling-Temco-Vought’s buyout of the Wilson meatpacking company. LTV bought the …
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