Time Warner losing the battle in the Media & Entertainment Industry

I think Time Warner may be facing trouble in the new media landscape. The merger with AOL could probably be considered disastrous, at best. The music industry is in the midst of a major upheaval with the rise of digital music websites like iTunes, slowing CD sales, and the shift to selling individual songs instead of entire albums. The television industry is also evolving with new Web 2.0 websites like YouTube and others. The news media is additionally having to change to a online format because of declining newspaper subscriptions. All of these things affect Time Warner's various business operations. Inevitably, Time Warner will have to fight multiple battles within the new paradigms of the media industry to remain competitive. Just today, Time Warner announced that it will stop publishing "Life" magazine.