New media business models

Tom Foremski wrote: (via keso.)

Over the past few months I’ve been asking what happens if the old media dies before the new media learns to walk.

By which I mean, what happens if we lose much of the old media before the new media business models are formed?

It is Silicon Valley’s top companies, such as Google, Yahoo and Ebay, that are devastating the old media business models. But the new media business models have not yet “grown up” to support the quality journalism that we need as a society.