Tim Oren takes a macroeconomic look at the challenges legacy media faces these days, and every ad manager, newsroom editor and executive news producer should take a long, hard look. Are you a smart communications pro? Then consider this piece a strategic glimpse into the future and start planning on how you’ll deal with it.

(Surgeon General’s warning: If you’re not up to some economic theory —well written but still not exactly a Dick and Jane Reader — then this link could pose a risk of brain aneurysm.)

Jeff Jarvis did such a fabulous job of summing up that I’ll quote him here:

What’s so fascinating about Tim’s post is that he takes a social issue — news and trust — and measures it through a business perspective. I have always said that in the news business, our only asset is credibility. Tim is now measuring the declining value of that asset in the midst of scandal and in the face of new, trusted competition.

Go read it; this is important stuff if you want to understand where PR and broad-reach marketing will be in a few years.

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