If information/knowledge is the currency of the future, then technology companies are the future of the media and entertainment industry. Audience fragmentation and personal digital media devices have transformed media consumers into media customers. Direct-to-consumer digital distribution is the doorway to these customers. And personalization is the key to the door.
When the door opens, it's technology companies (like Apple and Google) who will be able to capitalize on digital distribution opportunities. Look at the success of iTunes and AdWords. This is only the beginning.
The media and entertainment companies of the future understand that the media customer's experience with entertainment is productive enough to entertain other media customers.
For more info see:
All Eyes Turn to Google --- Forbes
Help Me With 'Making The News' --- Dan Gillmor
Is Apple Going to Become a Media Company? --- Charles Hudson's Weblog
There's Plenty of Room in the Future --- VentureBlog