The legacy media, usually abbreviated as MSM (for mainstream media) has most of the classic characteristics of a declining industry. New technologies are powering alternative producers to undercut their traditional market share, and management is reacting the way management of declining industries usually react.

Jack Risko is both a blogger and an actual C.E.O., well—versed in the theory and practice of modern managerial capitalism. His site, Dinocrat.com has an excellent analysis of the industrial strategies of the MSM. Click here.

Thomas Lifson   10 10 04