In recent years there has been a growing awareness that industries such as music, film, media and design are important economic contributors to OECD economies. With this there has being increasing interests amongst both academics and policy makers in the cultural industries. Creative industries have been at the centre of the so called convergence. Effect of convergence have been the blurring of boundaries between different media sectors and the emergence of new sectors. Convergence implies the emergence of common interests among different players along the value chain: media content providers, content aggregators, technology providers, distributors. Among practioners, academics and general public, convergence evokes a global game played by multinational companies: the common association is with the growth of conglomerates. Research on media convergence has neglected a fundamental link, the local actors. The local roots of network industries are critical in the emergence and exploration of common interests: local embeddedness (Taylor, 2005; Storper, 1997; Maskell et al., 1998; Amin and Thrift, 1997) is the background where convergence can be explored. The purpose of this paper is to point out the relevance of localization advantages in the emergence of new sectors, in particular in media industries, and to explore the process of network development in the raise of new sectors’ firms, that change the value chain configuration.