Why Wont Traditional Media Outlets Innovate?

[Commentary] The old ways of doing business in traditional media no longer apply. Media companies that resist change are doomed to fail. Legacy models have been overturned by digital technology. But traditional media companies are clinging ever more desperately to what they know. Just when they should be taking advantage of a chaotic marketplace to justify aggressive restructuring aimed at opening ancillary revenue streams, many are going the other way. They are huddled in the corner, trying to preserve old business models and protect their paychecks.