Entrepreneurship and strategy enable media organizations to create new ideas and bring them to the market. However, despite their practical importance, synergistic combinations of these theories are currently under-investigated. Therefore, the objective of this paper is to theoretically explore the phenomenon of strategic media entrepreneurship and lay the foundations for further investigation and theory development. The paper highlights a convergence of strategy and entrepreneurship and shows how they add to organizational success through developing visions, exploring and exploiting opportunities, managing people, building networks, driving creativity, and facilitating strategic planning. Ultimately, the paper contributes by uncovering and reflecting on the assumptions of current theoretical approaches in strategic media management and media entrepreneurship through targeted problematization. This provides the basis for opening new discussions, generating new theories, and exploring emerging phenomena around strategic media entrepreneurship.