Sunday, November 23, 2008

Journalists warned of two years of carnage ahead

JOURNALISTS have been warned they cannot be spectators if they are to survive the new world of media fragmentation and digitalisation -- an environment dubbed a "perfect storm".

"A report, Life in the Clickstream: The Future of Journalism, released today by the Media, Entertainment and Arts Alliance, warns that the Western media industry faces "two years of carnage", squeezed by the global economic meltdown and the unravelling of traditional economic models.

The report reveals that more than 12,000 journalists worldwide have lost their jobs so far this year.

Commentators from around the world warn the multiplying effects of cost-cutting and reduced quality could result in the collapse of the US's biggest media companies, while in Britain it is predicted that between five and 11 newspapers will vanish.

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