The studios adapted and survived, and since the 1970s, they have enjoyed a remarkable resurgence and have reasserted their collective control of the so-called New Hollywood. Now the studios’ film divisions produce far more than simply feature films, however, and the studios themselves are all subsidiaries of massive, transnational multimedia conglomerates such as Sony, Viacom, News Corp, and TimeWarner. But even as subsidiaries, the studios represent the “core assets” of these media conglomerates due to the enormous popu- larity of Hollywood movies in the global entertainment marketplace
