[ebusinesstutor]

This is happening to many "old" media companies. Newspapers are in trouble as people get all the news they want on the Internet, customized for their own interests and hobbies.

Many people are cutting the cable, and using services like NetFlix and Hulu to watch the TV shows and movies they want on demand.

And now, the "genie" is out of the bottle for book publishing as well. When anyone can publish a book or ebook and reach their audience directly over the Internet, what use are publishers?

The funny thing is that all of these "old" media companies were in the perfect position to make huge amounts of money from the changes had they embraced them. Because they had quality content people wanted, they could have embraced the new channels and offered their content to many more people at a decent price.

But now, they are so far behind that people have learned to access their content in other ways.