Most helpful critical review
16 of 24 people found the following review helpful
Frustrating at best
on February 6, 2010
I picked up this book with great anticipation, as I work in the media business and have my own thoughts about "the moguls." Sadly, this book was ultimately nothing more than frustrating. It makes the very correct point that media mergers never fulfill the analysis done to justify them. This is well worn ground, and largely true for most mergers. Indeed, the core of this conclusion about media mergers is borrowed from a somewhat dated Wall St. analyst report, not written by any of the authors. While the skeptical tone about media business rationales for various acquisitions is very healthy, this book ultimately provides insufficient hard support for this skeptical tone. I came away feeling like the conclusions reached were likely correct, but that the analysis of the book really didn't support them. Ultimately, it seemed like the author's recommendation to the media moguls was to concede that they were not running growth businesses, should not be investing capital in growth that was unlikely to materialize, and instead should be raising their dividends and returning capital to shareholders. Something that would make the shareholders scream, as the value of their investments would plummet.