Mónica Herrero & Steve Wildman (Co-editors), The Business of Media: Changes and Challenges, IMMAA,

 Lisbon: MediaXXI/Formalpress, 2015.

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Advancement of the state of scholarship on media management is a three-pronged process. The body of knowledge on which media executives and managers can draw grows as: (1) core concepts and analytical frameworks are refined, augmented and occasionally supplemented or replaced by new ideas that better explain the roles of media in their larger economic and societal contexts; (2) Rigorous empirical analysis probes the limitations of current understanding and raises new questions; and (3) Grounded case studies extract knowledge through theoretically informed observation of situations and processes that are too complex and multi-faceted for more tightly controlled statistical analyses but still are too rich in their potential to contribute to knowledge to ignore.