Capital Radio PLC,the UK's biggest commercial radio firm,announced in 2002 that it would partner with Walt Disney Company to create a radio network for English-speaking children under the age of sixteen.The new company created by this agreement is an example of a(n)________.

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A joint venture is a business agreement between two or more companies to collaborate on a specific project or venture. In this case, Capital Radio PLC and Walt Disney Company agreed to partner together to create a new radio network for children, which fits the definition of a joint venture. A tactical alliance is a less formal agreement between companies to cooperate on a specific project or goal, while direct investment involves one company investing in another. Straight extension and backward invention are not applicable in this scenario.

Capital Radio PLC,the UK's Biggest Commercial Radio Firm,announced in 2002