January 14, 2008
Advertising Age editor-in-chief Rance Crain interviews Newsweek chairman Rick Smith in this first episode of the new Ad Age video series, "Executive Session With Rance Crain." In the nine-minute video, Mr. Smith discusses the dramatic impact that the exploding world of blogging, instant analysis, consumer-generated content and opinion overload is having on the core reporting function of mainstream media journalism. "Talk is cheap," he said. "Opinions are cheap. Reporting is extraordinarily expensive. All news organizations are under cost pressures these days, and too often it's the reporting that's getting sacrificed."