• New York Observer, Thursday, November 6, 2008 9:30 AM

New York has long prided itself on being the country's media capital. Because of that, the Bloomberg administration is launching a study to boost the bleeding media industry. First step: The New York Economic Development Corp. will hire a consultant to produce a report and recommendations on how to help the industry grow.

EDC envisions the study as a yearlong effort that would include CEO round tables, workshops with industry professionals and suggested policy actions. The focus is on helping the old, "traditional media" companies heal their wounds and better adapt to the digital world, while also attracting and growing Internet and tech-focused firms.

Media is one of the largest industries in New York City, with more than 160,000 jobs, $15 billion in wages, and occupying more than 14% of Manhattan's office space.

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