So how should advertisers be re-looking at their relationships with media houses?

– I think it’s pretty tough, because the media houses are clueless. The average media company in the world is in pretty poor shape. A few will survive. A few newspapers will make the transition from a print product to an electronic product as the New York Times and the Wall Street Journal have done. And the Financial Times, which is perhaps the most successful example. In South Africa, you might have a few electronic news services – News24 and a couple of others – making it. But most media houses are as clueless as ad agencies.

Your own included – Naspers?

– That would be perhaps a little harsh but it’s approximately correct.