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Old media to embrace internet upstarts

Published: May 29 2006 23:54 | Last updated: May 29 2006 23:54

High-level media and advertising executives are to meet for a brainstorming session aimed at capitalising on the surging popularity of social networking websites.

McKinsey, the management consultancy, is understood to have asked senior executives from old and new media groups alike – from Yahoo to YouTube – to a session with advertising agencies to discuss ways of turning the hugely popular internet sites containing photos, videos, blogs and other user-generated content into viable media businesses.

The meeting, which could take place in New York within the next month but no date has been finalised

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