Do they know something?

From this morning’s Wired:

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…

"I think there’s a certain amount of panic among media owners," he
said. "Most of these companies, ours included I suppose, are run by 50-
or 60-year-olds who have trouble getting it, and who really don’t want
to see change on their watch."

Sorrell’s dire warning that print and television are steadily losing
ground to their new media rivals was tempered by the influential views
of Microsoft chairman Bill Gates, who said such distinctions would soon

Panic’s not a good thing, but for some time I’ve thought the Society should be shifting its resources to more investment in new media capability.