• Reuters, Sunday, July 12, 2009 9:55 PM

Media moguls and executives at Sun Valley this year spent a lot of time talking about how to best prepare for the challenges of the Web and mobile disruption. The upshot? Companies that once traded and leveraged their huge size and scale of distribution are now considering whether just being bigger might not necessarily be better in the new fragmented media world.

"The notion that there are synergies between content and distribution has been dispelled," says Tuna Amobi, equity analyst at Standard & Poor's. "You're not going to see a Comcast Corp trying to merge with a Disney anymore."

Not everyone agrees. Sony, with a global empire that spans music, movies, video games, software, mobile phones and consumer electronics, remains one of the world's largest companies. Sony CEO Howard Stringer says that it has become more important to be able to integrate and leverage its different units. "We wouldn't have been able to win the Blu-Ray war if we didn't have content. You can't create in a vacuum any more. You have to have a relationship," he says.

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