How profound is the change brought by the Internet?
McGovern: We’ve made an interesting re-definition about what business we’re in. We always thought of ourselves as [print] publishers who did websites and conferences. Now the website typically has a bigger audience than print, and it’s growing much more rapidly. We used to be a publishing company with ancillary websites and events, but now we’re a web-centric information company, and we have ancillary activities like print publications and events. That’s a big change, because in the past, we’d have a meeting with our publishing heads, and we’d talk about all the trends online — the growth in revenues and growth in audience. And advertisers were saying they were getting better ROI in online advertisements. The future, and most of our revenue by 2020, will be online. And the publishers would nod their head, and go back to their office and get four or five urgent messages on their desk about IBM cancelling print ads, ‘Could you rush out and have dinner with the IBM head to convince them
