Media Kingpins Face the Music

Another investment banker says that big media has been "very late to the game" when it comes to developing international media channels, and that as they frantically try to build their overseas presences, seeing real returns will take time. He cautions that foreign governments aren't likely to be keen to see their media taken over by American companies, adding that the notion of instant growth overseas is a "bad assumption."

Indeed, Chinese authorities said this week that foreign ownership of media outlets will be prohibited. That remark could throw a serious wrench into the works for companies that have been lobbying for greater presence in that enormous market.

There seem to have been a lot of bad assumptions and missed opportunities over the past few years. Maybe the fresh air in Idaho last week will have left leaders invigorated for coming combat.

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