I am responsible for some of the key edits on the second definition for content in the Wikipedia dictionary. My full definition of content is:

Information and experiences created by individuals, institutions and technology to benefit audiences in contexts that they value.

I agree that user-generated content has become an integral part of what creates value in publishing today. As audiences create their own content there is an interaction between creators and audiences who reverse roles back and forth with one another in a natural communications process. I agree wholeheartedly that those publishers that are hesitant to take on this new interactive role and to play a facilitating role in its value are going to miss out on the greatest revenue opportunities. However, traditional publishers will continue to contribute value to interactive publishing environments and will benefit from improved methodologies to make their content valuable in interactive contexts.

Specific thoughts on Google’s news comments may be found at:
http://www.shore.com/commentary/weblogs/2007/08/google-news-comments-letters-to-editor.html

All the best,
John Blossom
President
Shore Communications Inc.