Media companies have 12 months to turn the danger of today's economic downturn into an opportunity, after which old cultural practices will likely return and bog down the evolution from newspapers to newsmedia, said Earl J. Wilkinson, executive director and CEO of INMA.

He began by asking whether the current headlines and dire predictions about the “death of newspapers” weren't simply “hysteria.” Wilkinson said newsmedia companies are confusing the worst the effects of the wider recession with the death of newspapers, and that the constant stream of negative articles about newspapers were due in part to the fates of debt-ridden newspapers in the United States and the United Kingdom – that the journalists concentrated there were reporting on their own layoffs in a way that made the situation seem more apocalyptic for newspapers than it actually is. “The worst news is being reported in a way that is affecting other media capitals around the world,” he said. “What's happening in the U.S. and U.K. is not the tip of the iceberg, at least for the...

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