Mourning Old Media’s Decline

Here's very interesting article in the New York Times about the declining fortunes of some of the old media companies. A very telling quote, however, is below:

At the recent American Magazine Conference, one of the speakers worried that if the great brands of journalism — the trusted news sources readers have relied on — were to vanish, then the Web itself would quickly become a “cesspool” of useless information. That kind of hand-wringing is a staple of industry gatherings.
But in this case, it wasn’t an old journalism hack lamenting his industry. It was Eric Schmidt, the chief executive of Google.

Maybe we all should be a little more worried about the decline of old media.