The United States of America’s interlocked information industry: An examination into seven U.S. media sectors’ boards of directors

Abstract

ABSTRACT This research explores the interfirm interlock networks that currently exist among publicly traded media conglomerates operating in the United States of America. Directorship information was gathered from annual reports and definitive proxy reports filed with the U.S. Securities and Exchange Commission for 68 media conglomerates across seven media sectors for year ending 2018. This investigation applies social resource theory to assess the social networks formed by interfirm interlocks among media conglomerates and how such network structures address environmental uncertainty. Results indicate that not all alliances are mutually beneficial and those that are more resource-dependent endure negative cooptation effects. Moreover, today’s financial interlocks look very different than they did at the turn of the century. This research discusses how these changes in interfirm interlocks have resulted in directorship wars. Practical implications are discussed.