Reed: Re-read

Media tycoons bite their nails over the Internet. Online sales and piracy have already disembowelled the music industry. Rupert Murdoch worries that it may do the same for newspapers and TV. Yet Crispin Davis, chief executive of Reed Elsevier, Europe’s biggest media company, isn’t worried a jot. This isn’t uncharacteristic insouciance from Davis. He is better known for his caution and cost-cutting expertise. Rather, it’s because Reed is already the biggest internet company in the UK. Indeed, it...