By Paul Farhi, Published: October 24
America’s foremost gossipmonger has a little unsolicited advice for the nation’s mainstream media: Your business model is broken. Your future is in jeopardy. Adapt or die.
TV news is hurting, TMZ.com founder Harvey Levin told the National Press Club on Monday, because it’s afraid to mess with an increasingly moribund formula. Newspapers and magazines should get out of the print business, he added, if they want to survive. And if the upheaval of the Internet over the past decade hasn’t been enough, just wait: The next five years will be even more tumultuous for the hidebound and hoary.