At Sun Valley, Idaho, global media moguls are meeting this week for the annual retreat that is fabled to generate mega deals. Now, will moguls be spelt as Mughals this week? In other words, how important is India for the likes of Google, Yahoo, Newscorp et al?
No doubt this is an interesting market, but, as the Reuters report observes, the US economy is the prime concern, and issues like the Microsoft-Yahoo saga dominate.
Now, while that happens and we look for the signals, here is some sobering insight. When the likes of Murdoch, Eric Schmidt (Google) and others confabulate, where are the journos?
They are busy reporting it all. Is any of the moguls/Mughals in question a former entertainer or journalist? Very few, if at all.
In the end, this is about business.
All those who have woolly ideas about the power of the media must remember my friend Srini's e-mail drop-line: The freedom of the press belongs to those who own one.
That saying, I believe, is credited to A.J. Liebling of The New Yorker magazine
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