Two years of carnage: Emily Bell on the great crash and the media

It was Apocalypse Now at Polis as the Guardian‘s digital content director Emily Bell warned of extinction for swathes of UK media in the wake of the Great Crash: “We are on the brink of two years of carnage for Western media. In the UK five nationals could go out of business and we could be left with no UK owned broadcaster outside of the BBC. We are facing complete market failure in local papers and regional radio. This is sytematic collapse not just a cyclical downturn. Even the surviving brands will have to go through a period of unprofitability.”