What are the industries (if more than 2) in which National Geographic operates and how are they related?

What is (are) the business model(s), and what are the key success factors?

What are the resources and capabilities of this company?

What are the relevant strengths and what weaknesses exist? 

This is an interesting, and complicated case because of the various characterizations the company represents and how to use the tools of the course, so far. 
Your analysis should consider description and the exhibits. I do not need a regurgitation of the facts since I have read the case. Instead, I am looking for interpretation given the frameworks that I have offered to you. Interpretation means meaning and significance.

https://cb.hbsp.harvard.edu/cbmp/content/29309790