The standard answer to the question ‘How is your company reacting to the current business environment?”

Okay. I’m 90 minutes into a conference during which at least a half-dozen CEOs and other senior executives of publicly traded business media companies have faced questions about how the “past six-eight weeks” has changed their business.

Here’s my spot analysis of how that question is answered:

“We are certainly concerned, but we don’t want to panic. We are tightening our belt. Of course.”

Translation: They are panicking.

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