Decades ago marxist theorist Antonio Gramsci wrote in The Prison Diaries:

The crisis consists precisely in the fact that the old is dying and the new cannot be born; in this interregnum a great variety of morbid symptoms appear.

Today that description is an apt one for the world of media. Faced with the growing power and influence of the internet and social media, traditional news publishers find themselves in an awkward no-man’s land. The future clearly belongs to digital but the profits required for extensive news operations still sit firmly in the pre-digital age. Finding a way out of this conundrum is the major challenge facing the media today.

This is the interregnum.