This chapter examines the behaviour of various types of corporate actors, and their linkages, in the context of a fast-changing GVC. The restructuring of the TV industry around transnational production networks has created two types of companies (lead firms and suppliers), and two classes of suppliers (sector-specific and multisectoral). Using Schumpeter’s notion of creative destruction, the first section reflects on the impact of the digital revolution on lead firms and sector-specific suppliers. The second section focuses on the relationships between the different sets of actors and examines the modes of governance that prevail in the TV GVC. The thrust of corporate strategies, it argues, is strongly influenced by businesses’ positions in the GVC, and the power asymmetries between lead firms and suppliers are leading them to divergent approaches to integration. The final section demonstrates how the rise of the global suppliers (the tech giants) in the TV industry is furthering the global integration of the sector, and facilitating industry co-evolution through the formation of a supply base that is shared across several industries.