eric rochow

via Shelly Palmer’s MediaBytes:

BARRY DILLER told a group of conference attendees that major media companies still don’t “get” the Internet. He advised media companies to create new Internet properties from scratch, citing Time Warner’s popular TMZ.com as an example to follow. Diller believes media companies suffer from a fear of investing in companies and developing new things, a necessity that is understood and encouraged in the tech world. He labeled the TV business “temporarily prehistoric.”

You can read the whole article here on the Hollywood Reporter site. I found this quote from Ron Burkle prescient, as people start asking if we are in the midst of the 2nd Internet bubble.

Noting the lack of respect Wall Street has for newspaper companies, he contrasted the New York Times with one of his investments, Current TV, which he said is worth up to $2 billion after just a few years in existence.

“It’s hard to believe the New York Times isn’t worth 10 times that and not only twice as much,” he said.