Rupert Murdoch suggested Monday that the entertainment media are in the throes
of a revolution that will bring down the traditional media mogul like himself.
Speaking in London, Murdoch said, "Power is moving away from the old elite in
our industry." Instead, he said, it is moving into the hands of "a new
generation of media consumers," who, he said, "demand "content delivered when
they want it, how they want it, and very much as they want it." Murdoch went on
to use a crystal ball to describe some aspects of "the technology revolution"
that he sees in the near future: "PVRs -- personal video recorders -- streaming
live TV onto mobile phones -- beaming programs onto computers via IPTV --
internet broadcasts -- this wave of innovation gives the consumer huge choice
at relatively low cost. So, media becomes like fast food -- people will consume
it on the go, watching news, sport and film clips as they travel to and from
work on mobiles or handheld wireless devices."
There's still no reunion planned though.