Based on [Porter’s value chain] model, adaptations to the media sector have been undertaken and the steps of the value chain have been consequently called differently: production/creation (of content), packaging/production, distribution, and delivery/exhibition (e.g. Albarran, 2010: 57; Zerdick et al., 2001: 62ff). What is shared by authors adhering to this perspective and analytical tool is that value is understood as the “ability to command money or other goods in exchange for the commodity or service in the market.” (Picard, 1989: 35). Applying Porter’s economic value chain analysis to contemporary media and communication firms does not provide fully satisfactory results for three reasons…