DECEMBER 24, 2001
F1 struggles to understand new technology
IT is widely believed that the restructuring of the way in which television works in the years ahead will have a detrimental effect on the financing of the sport and many F1 marketing men are keeping a close eye on the media markets to see what developments are taking place. The last few days have seen some interesting developments with the British media company Pearson selling its stake in the RTL television company in order to concentrate on its traditional business of publishing newspapers and magazines.
At the same time over in the United States of America, Barry Diller, one of the top players in the TV world, via his USA Networks company says he is going to invest $4bn in new Internet-linked developments now that the Internet boom has ended. Diller thinks that a new and sensible Internet economy will now emerge as broadband technology spreads around the world and he wants to get back into the online entertainment market before the next boom. For the conservative folk of F1, who do not see how to make money for new media but are worried about the merging of entertainment, television and the computer industries, the world is a confusing place at the moment.
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