New York Times business reporter Laura Holson has a new beat covering the communications, wireless and entertainment industries, according to a memo from business editor Larry Ingrassia.
Ingrassia wrote, “The revolution sweeping the communications world is changing the way that we live and work, and is likely to be one of the biggest business stories of the rest of the decade. As Laura notes, ‘We have already seen some of the effects of this, but it is only going to become more pronounced as mobile phones become more like little handheld computers where people shop, are entertained, communicate with friends and others via social networking sites and manage their personal lives the same way they have become accustomed to with their PCs.’
“Laura’s mission will be to chronicle this revolution, and what it means for traditional telecom companies like AT&T and Verizon, and the growing number of players (ranging from Google to media companies to VC-financed startups) that want a piece of the action. And the action is likely to be fierce, because the stakes are so high. The winners could pocket billions in revenue from high-margin entertainment, service and information offerings delivered on wireless and fiber-optic lines, while the losers will struggle to make money in commodity telecoms businesses.
“Similarly, the handset makers Nokia, Motorola and now Apple, with its iPhone, will play a major role in this changing world, with the most innovative cell phones making it possible to do things that no one could have imagined even a few years ago.”
Holson has previously covered Wall Street and Hollywood. Brooks Barnes from The Wall Street Journal will replace Holson covering the entertainment business.
