• by Joe Mandese  @mp_joemandese, March 23, 2009

Calacanis is positively giddy talking about how the current economic malaise is going to put traditional media out of business, and will give online media the chance to take over.

“They deserve to go away. Goodbye. Good riddance,” Calacanis said, adding, “We’re going to win. Newspapers, radio and television. You’re all going to lose.”

Besides the obvious reasons, Calacanis cited a prediction of WPP Chief Martin Sorrell as the primary factor driving online’s ascendancy.

During a recent high-level meeting Sorrell hosted in Athens, Calacanis said the holding company chief projected that 50% of all advertising would have to become “measurable,” up from about 20% today.

“You can’t measure TV magazines and newspapers,” Calacanis asserted.