Corporate Media Fears Competition from Social Networking Sites

MarketWatch
March 24, 2010

• A d v e r t i s e m e n t

When the president of CNN in the U.S. looks over his shoulder, it’s not his rivals at Fox News that makes him anxious. It’s Facebook.

“The competition I’m really afraid of are social networking sites,” Jon Klein said at the Bloomberg BusinessWeek 2010 Media Summit. “That’s an alternative that threatens to pull people away from us.”

Klein laments the level of trust that Facebook and Twitter users seem to place in the people they follow.

“We want to be the most trusted name in news,” he said. “We don’t want the 1,000 people you follow in Twitter to be the most trusted sources for you.

“So I’m far more worried about the 500 million people on Facebook than I am about 2 million people watching Fox.” Fox is a unit of News Corp., which also owns MarketWatch

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This article was posted: Wednesday, March 24, 2010 at 9:02 am

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