‘Panic’ on the Streets of London (Media Companies)

It’s not news to readers of ClickZ that the Internet is bringing about seismic change in the media world, but here’s more confirmation (via Reuters) from a talk by WPP Group’s Sir Martin Sorrell at the UK Internet Advertising Bureau shindig.

“There are major changes and we don’t understand the speed and scale at which they’re taking place,” Reuters quoted Sorrell as saying. “I think there’s a certain amount of panic among media owners….Most of these companies, ours included I suppose, are run by 50- or 60-year-olds who have trouble getting it, and who really don’t want to see change on their watch.”

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