Reuters CEO Tom Glocer, speaking at the Online Publishers Association conference in London, said journalists need to adapt to the new media.
Reports the London Guardian: "Tom Glocer said that media organisations needed to understand their true value in order to make the most of the online world."
"I believe the world will always need editing," he said. "Just because everyone has the potential to publish their own blog, doesn't mean they're all worth reading. The role of companies like ours is to edit and filter, and provide open tools for the audience. The good stuff will float to the top.
"Old media - and ironically that includes online publishers - must adopt these new roles to prosper. We can't be a choke hold in a desperate effort to close the digital pipe. But we need not be so fearful either."
Says the Guardian, "But Mr Glocer added that the media should be wary of capitulating entirely to new media force of bloggers, small websites and other new content creators."
"Protectionism doesn't work," he said, "but neither does total surrender. As media companies, we now have access to a rich world of sources. Let's not turn away from the potential of all of this, but understand it and unlock it."