Malone Says 'It May Be Too Late' for Media Companies

Liberty Media Corp. Chairman John Malone said television, film and publishing companies must find a way to charge Internet users for content they provide. "The Internet is moving too fast, too far.... Clearly advertising revenue is going to be insufficient as a sole source of revenue. It may be too late" for some companies, he said, citing the newspaper industry as an example. Newspapers "are dropping like flies," Malone said. "Just changing the ownership doesn't solve the problem." Without new pay models, the Internet will drain profits at media conglomerates, as it has at newspapers, he said .