Private equity and hedge funds operate as shadow-bank reconfigurers of media

Evidence

Chapter 2, “Derivative Media and the Tools of Financialization,” schematically analyzes the many forms of financial capital and their relation to the media industries. It aims to equip the reader with the critical financial literacy necessary to understand this seemingly complex world. It provides a framework for thinking about media’s relationship to financial capitalism by defining key financial instruments, such as stocks, dividends, buybacks, securities, and derivatives, as well as so-called “alternative asset classes” and “shadow banks,” such as asset managers, private equity, venture capital, and hedge funds. — Andrew deWaard, Derivative Media, 49

Categorization

• DEFINE: Introduces the conceptual scaffolding (shadow banks, alternative asset classes) the reader needs to name the institutions doing the configuring.