Diane Mermigas of the Hollywood Reporter writes that the new world order of media and entertainment is taking hold in 2006, causing media companies to compete for consumer and advertiser
spending like never before. She says the digital broadband revolution is forcing traditional media companies to reinvent themselves right before our eyes, "placing their first unproven bets"
on extending their content and services to different outlets so consumers can decide where, when, and how to consume content. She analyzes the advantages and challenges facing each of the major media
companies in 2006 and the years ahead, saying Time Warner needs to keep America Online and let the consumer market dictate where it will go; News Corp. needs a Web portal; Google, now
"irreplaceable," must prove it can stay the course without compromising its original mandate and purpose, and Yahoo! needs to be wary of "trying to be everything to everyone," and
focus.
Read the whole story at Hollywood Reporter »