"Old School" Media Companies Ready to Panic?
A Reuters newswire article, via Wired News, reports that:
WPP chief executive Martin Sorrell warned on Thursday that leading media companies like News Corp. are on the verge of panic amid seismic shifts brought on by the internet.
He singled out the recent internet acquisition spree by Rupert Murdoch's media conglomerate as one sign that media conglomerates are scrambling to catch up, saying News Corp. has been making internet acquisitions "almost willy-nilly."
Sorrell, head of the world's second-largest advertising and marketing company and one of the media sector's best known prognosticators, told attendees at a Internet Advertising Bureau conference that declining circulation, viewership and revenue figures had big media companies running scared.
posted by Fergie @ 10/27/2005 10:08:00 AM
1 Comments:
This is quite an admission from "old school" media. I will give some credit to Sorrell for that but I sense he is criticizing Murdoch. Fair enough but I think Murdoch is determined to not be left behind even if he hasn't figured it out completely. Murdoch will win because he is attacking the market.
Post a Comment
<< Home