Six firms own 90% of US mass media and news outlets – Walt Disney, Time Warner, ViacomCBS, NBC Universal, and News Corporation. Using one of these six firms, demonstrate the application of game theory to the way in which your firm manages its market position relative to the other 5 firms. In your initial thread, include a discussion of
(1)Discuss how your firm ensures that the market structure remains an oligopoly.
, (2) what form of “game theory” equilibrium best describes the market equilibrium in this industry.
(3)Explain how their product is differentiated to grab market share.