Is the new media boom over?

I don't want to be a Cassandra, and I certainly don't want you all to think that I'm boosting for the Wall Street Journal (Murdoch can have it!). But two interesting articles that I've linked to here.
Both are about huge media and entertainment mulitnationals who've recently lost money on their entertainment, news and internet investments. I want to come back to this, but for now, these stories make interesting reading.
Viacom profits fall 36%

Warner Music posts net loss