Wednesday, June 27, 2007

Peninsula Press Club: Old Media consolidation destroys value

Old Media consolidation destroys value

In the past year, 14 dailies in the Bay Area were consolidated into one company, MediaNews Group, which is now struggling amid slowing ad sales. At a conference in New York put on by PricewaterhouseCoopers, experts said media conglomerates are a thing of the past. "Consolidation in the old media world destroys value," said Laura Martin, founder and CEO of Media Metrics LLC. "They are buying stuff (and audiences) because they don't know what else to do." Here's a report on the panel discussion by The Hollywood Reporter. Martin also said that the young technology entrepreneurs that make a difference in today's world want cool and hip work environments. "That's not the big media companies," she said.

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