Analysis Of Option C:-
Option (C) is grmatically correct but the main problem is that we have to ensure that the option gives the correct meaning. Now we may argue definitely that how can we know that which meaning do we have to follow. Is it the meaning stated in Option E or Option C. Now we can clearly see that In option E there is a clear indication by the use of Noun ( I.e. such programs ) that "Such Programs" are thriving. On the other hand in Option C we have no clear NOUN to understand what is thriving. Is "Developing Television programs in conjunction with the marketing of toys " thriving ? That does not seem to be a good framing of Option C as compared to Option E. If in case we would have been given that "A PRACTICE of Developing Television programs in conjunction with the marketing of toys " then option C would be correct because we have a clear NOUN which tells us that what is thriving.