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Is the New Media Party Over?

David Carr’s column in the NY Times Monday Business Day talks about the “blogging bubble…Taking on serious hot air of late.”

Quoting new media mogul Nick Denton, who Carr ran into at a party PaidContent.org threw last week, the story says:

“It made me want to move to Budapest, batten down the hatches and wait for the zombies to run out of food,” Mr. Denton said cheerily.

Denton is making news for shuttering two of his sites (Sploid and Screenhead), and laying off editors at Gawker, Gizmodo, Wonkette and Gridskipper.

Denton goes on:

“We are becoming a lot more like a traditional media company,” Mr. Denton said last week. “You launch a site, you have great hopes for it and it does not grow as much as you wanted. You have to have the discipline to recognize what isn’t working and put your money and efforts into those sites that are.”

It reminds me of the late nineties when dotcom start ups — whose businesses were getting funded simply to amass eyeballs — were out shopping for PR agency representation in droves.

But the lesson for PR practitioners seems to be that just becuase you build it, doesn’t mean they’ll come.

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