Old Media is firing its arrows at Google at the 56th annual National Cable & Telecommunications Association conference. Trying to convince the public that Old Media has a leg up on the internets and wireless providers, execs got a little carried away. There was a lot to celebrate - from proprietary content lawsuits to the fragmentation of any sort of media-sharing portal (if audiences are going to shrink, at least let them be disparate!). Most of all, there was melodrama, as Old Media is a bit touchy when it comes to people predicting its defenestration by New Media platforms. From a Reuters story:
"The Googles of the world, they are the Custer of the modern world. We are the Sioux nation," Time Warner Inc. Chief Executive Richard Parsons said, referring to the Civil War American general George Custer who was defeated by Native Americans in a battle dubbed "Custer's Last Stand".
Unless Old Media plans to get its revenge on New Media in the gaming sector 100 years from now, maybe comparisons to the triumph of the American Indian are ill-conceived.
Shares of Time Warner (NYSE: TWX) are down over 1% today after a decent run-up in May so far (up 6%).
Old media turns combative against new media [Reuters]