There are some harrowing observations from Sir Martin Sorrell, considered one of the world's luminaries on the advertising business. In short, the change is secular, the disintermediation strong, and the profitability of old media changed forever.
Low-cost business models have undermined and unsaddled the legacy media and its traditional profit picture, he notes. Principally, the seeds of difficulty were planted by new media operations aiming to give content away. O