Corporate Engagement with the Media

Abstract

We survey 191 individuals responsible for public companies’ media relations and conduct 12 follow-up interviews to better understand how companies engage with the media. Media relations officers seek to proactively address negative coverage through direct interactions with journalists and internal coordination, and they are highly concerned with their companies’ reputation among investors and analysts. Senior executives are closely involved in reviewing media messaging, particularly around important events such as earnings announcements. We also find that one in four public companies hosts a quarterly conference call exclusively for members of the media in conjunction with the release of earnings. Our findings shed new light on the processes and motivations underlying corporate engagement with the media and contribute to the growing literature on how companies interact with information intermediaries.

Keywords: media relations, business press, social media, media strategy

JEL Classification: M40, M41, G14, L82