The internet’s influence grows unabated
BY LOUIS EKSTEEN
In a sort of cosmic justice of sorts, long-established television is now starting to feel the internet winter. For years only traditional print media was hammered by the internet’s all encompassing advertising juggernaut.
These days venerable old media can seemingly only be saved by billionaire philanthropists. Bezos bought The Washington Post, Laurene Powell, the widow of Steve Jobs invested in The Atlantic and now Marc Benioff bought Time.
This reminds me of our time in the magazine world. During a memorable American Magazine Conference at the height of the golden age of magazines Ted Turner, whose company was then recently bought by TimeWarner, boasted about the group’s magazines housed in Time Inc: “All we have is Time and Life. What else is there? Oh, Money. We have that too”. Ja-nee.