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But in the long term, is big or small better for the shift to digital?

Size and synergies between the different segments of the company matter. As far as we are concerned, the Internet is broadening our opportunity, as well as for other big media companies with huge resources in sports, entertainment and news. There's just more opportunity. We are going to be seeing more [profits] in newspapers coming out of electronic delivery. The film industry may find that the [release] windows and the way it distributes films change. It's going to force a lot of change in the business models. But the absolute demand for content won't change. We believe that puts us on the eve of a new era of opportunity.

© 2006

 
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