Yesterday, female-focused publisher Refinery29 announced it had raised $45 million in a funding round led by Turner. It was just the latest in a long series of equity investments made by traditional media giants in fast-rising digital media startups. These deals are frequently labeled as “strategic investments” benefiting both sides. What these deals also demonstrate is that while the death of traditional media might make for a great cocktail conversation, if the so-called disruptors succeed, so will “old media.” They’ve ensured it.
The attack last week in France and the attempted coup in Turkey underscore the battle between established smart media and authorities on one hand and new social media on the other about who really controls the news narrative.
The Fort Myers-Naples market is home to one of the Web’s early media pioneers, and the region’s new media expansion is still going strong. The area’s legacy media companies are all increasing their online presence. Add to that an older, more affluent population, and you have the nation’s 30th fastest-growing online media market, according to Borrell Associates.
That ventures like Google TV and Apple TV make traditional media companies justifiably anxious was actually the good news from Peter Chernin, former president of News Corp. The bad news he told the Web 2.0 Summit: Those aren’t the only companies capable of doing damage to the incumbents.