New and Old Media – A Tale of Epic Shifts

By Greg Michael

The grand shift underway in the industry was on display this week with stories of dramatic positive and negative contrast. In Sun Valley Idaho, where new and old  media were having a business and  pleasure powwow, CBS chief Les Moonves had a chat with founder Chad Hurley to discuss a  partnership between CBS and the upstart Internet video company that is catching up with Google and MySpace. YouTube passed the major networks pretty quickly. The meeting, which was held within earshot of observers in the lobby of the Sun Valley Inn, was a lengthy discussion about how CBS can provide its content to YouTube, which in exchange would give CBS a cut of the advertising dollars. Hurley, a cool, long-haired 29-year-old who was one of the main attractions for the execs of old line media, reportedly said to Moonves, “We’d love to sell ads for you.” YouTube, which Hurley told Moonves yesterday streams some 100 million videos a day, recently inked a cross-promotion deal with NBC.

In Santa Barbara California, the gang of five disgruntled editors who quit the News-Press, opened up room for three or four employees to be promoted.  There was an angry reaction from readers. An anonymous insider said there were about 100 subscriptions cancelled. Do the math, YouTube has 100 million videos viewed a day, the little Santa Barbara paper may have lost 100 subscribers… Hello?

So, worried staff members at the News-Press asked to bring in a union to protect them  from there owner,  Wendy McCaw. Ms. McCaw has stated that some staffers left over a difference in news judgment. She also hinted in Thursday’s paper that bias had allegedly crept into some reporting.

A ‘get the rich’ attitude won’t play well in this enclave of
Hollywood millionaires by the sea.

Ironically, many of the  residents have second homes in Sun Valley and are renting them out for the new media elite as they laugh about the conflicts at their home town paper.  

Meanwhile, in Chicago, the Tribune announced more cuts in the newsroom. The new wave of cuts will be at about 100-150 people.


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