Say "bye-bye" to traditional newspapers? Thanks to the burgeoning advancements in digital publishing options like the iPad and online news sites, Viacom and CBS honcho Sumner Redstone predicts the death of printed dailies.According to Redstone at the Milken Institute Global Conference in Beverly Hills: "There won't be any newspapers in two years."
The exec, who owns TV and film giants MTV, VH1 and Paramount Pictures, also takes a swipe at media rival Rupert Murdoch, who invested his News Corp. empire into the so-called "ink" industry and forked over $5.5 billion in 2007 to purchase Dow Jones & Co., publisher of the Wall Street Journal.
“He lives in ink, and I live in movies and television,” Redstone says here. “Ink is going to go away, and movies and television will be here forever, like me.”
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