“Terry Semel, chairman of Internet giant Yahoo and a former Hollywood executive, on Tuesday blasted major media companies for being paralyzed by the threat of online piracy and moving too slowly to bring music and movies to the Web. Semel, who was co-chairman and co-chief executive of the Warner Bros. studio, said the music industry needs to revamp its business model, particularly as free services inspired by the now-idle Napster continue to lure music buyers away.” Click here for the full story at ZDnet.com.
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