What’s a Media Mogul To Do?
It used to be a favorite national pastime was asking in times of crisis, “What would a media mogul do?” Now the media moguls are asking each other. That likely will be the case at this week’s annual private Sun Valley, Idaho, media conclave hosted by investment banker Herbert Allen, that generally sidelines the press to begging for story scraps. This year’s gathering could be overshadowed by some stiff competition between today’s overblown public memorial for Michael Jackson in Los Angeles and the ailing economy, mired in more extraordinary bad news and an indefinitely suspended recovery. The world of entertainment and media barely holds a candle these days to high drama on the global stage even with the slow death of newspapers, the anticipated sale of struggling branded assets and industry-wide consolidation, the weakening of broadcast stations and advertising, and the scramble to monetize Twitter and other vibrant social networks. The established and so-called new media now stand un
