• The Wall Street Journal, Thursday, July 9, 2009 11:42 AM

Media moguls painted a murky picture of the digital future, The Wall Street Journal reported, during a panel discussion at the Allen & Co. media and technology conference in Sun Valley, Idaho, with IAC Chairman Barry Diller, Walt Disney CEO Bob Iger and Liberty Media Chairman John Malone each expressing uncertainty. Following the discussion, New Yorker writer Ken Auletta, who moderated the session noted that, "no one had any answers" about making money on the Internet.

Twitter came up during the course of conversation, with Diller expressing pessimism over the microblogging service's business prospects. Malone didn't seem to think an advertising model sense on Twitter, but he said there was some hope for a subscription model. "Sooner or later people will be willing to pay for these services," he said, adding that Warren Buffett privately told him he would pay $5 a month for YouTube.

Meanwhile, people who attended the conference, which is closed to the press, said that Twitter CEO Evan Williams was in the audience but didn't speak up to defend his company. After the event, they said he walked out alone and declined to talk to the press.

Read the whole story at The Wall Street Journal »