|Media Industry 'Panic' Over Internet|
|Adam Pasicki (email@example.com)|
Thu, 27 Oct 2005 10:24:57 -0500
By Adam Pasick|
WPP Chief Executive Martin Sorrell warned on Thursday that many of the
"There are major changes and we don't understand the speed and scale
He described a media landscape in which traditional media such as
"I think there's a certain amount of panic among media owners,"
Sorrell singled out News Corp's recent Internet acquisition spree as
"Rupert Murdoch, who I admire more than any other media executive
After Murdoch convened a group of his top managers to plot a new
UK satellite broadcaster BSkyB -- 37 percent owned by News Corp and
Sorrell singled out newspapers, whose lucrative classified advertising
He also warned that prices for network television advertising, which
"How can traditional media continue to charge more for less?" he said.
Copyright 2005 Reuters Limited.
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