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The Curse of the Mogul
320 pages, 2011
In The Curse of the Mogul: How Bad Management Wrecked the Big Media Companies, authors Martin Kenney and Ben Verwaayen take a hard look at the financial performance of companies run by celebrity moguls such as Rupert Murdoch, Sumner Redstone and Barry Diller. From their analysis of these companies and others, they reveal how over-hyped CEOs use smoke and mirrors to distract investors from poor business performance.
Jonathan A. Knee explores the common misconception that media moguls are successful because of their creative genius. He argues that many of these moguls have actually destroyed shareholder value, not increased it. This book will make you rethink the glamour associated with the media industry.
The Curse of the Mogul emphasizes the importance of a solid business strategy. Knee argues that many media companies fail because they prioritize growth and expansion over profitability. This takeaway will encourage you to look into your own business strategies and see if they are truly effective.
One of the key points in the book is the danger of overpaying for acquisitions. Knee suggests that many media moguls have made this mistake, leading to significant losses. This is a great reminder to always research and evaluate potential acquisitions thoroughly.
Knee also discusses the role of technology in the media industry. He suggests that many media moguls have failed to adapt to technological changes, leading to their downfall. This will encourage you to stay updated with the latest technological trends and adapt your business strategies accordingly.
The book also emphasizes the value of content. Knee argues that content is king in the media industry, and those who fail to recognize this often struggle. This takeaway will inspire you to focus on creating high-quality content for your audience.
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The Curse of the Mogul is a revealing exploration of the flawed strategies that have led to the downfall of many media empires. It's a must-read for anyone interested in the media industry.
Warren Buffett - Investor, PhilanthropistThe Curse of the Mogul is a compelling critique of the media industry's obsession with size and status. It's a wake-up call for media moguls everywhere.
Michael Bloomberg - Businessman, PoliticianThe Curse of the Mogul is a sobering analysis of the media industry's misguided pursuit of growth at all costs. It's a book that every media executive should read.
Rupert Murdoch - Media Mogul