New media vs everything

Old media boss on new media:

The Chairman of Thomas Crosbie Holdings has said there is a tsunami of information coming from new media, some of which has the "capacity to destroy civil society and cause unimaginable suffering."

Crosbie goes on to offer this nearly apocalyptic image:

"The fact is that, to generate good information carries a cost. It requires money. Unless you steal it like most new media companies do."And, if you bring that argument to its logical conclusion all you'll get on their news sites is a blank screen, because they eventually will have no one left to steal from."

(via Techdirt)