Quote by Malcolm Turnbull
We need to recognise that the whole edifice of our fifth estate, of our journalism, has been built on a foundation of newspaper journalism and that that foundation is crumbling. The management of the media companies will deny that the end is nigh. I hope they are right.
Summary
This quote emphasizes the need to acknowledge the declining state of journalism, specifically newspaper journalism, upon which the entire structure of the fifth estate, or the media, has been built. The speaker conveys pessimism regarding the denial of this reality by media company management, expressing a reluctant hope that their denial is valid. In essence, the quote warns of the crumbling foundation of traditional journalism and raises concern about the uncertain future of the media industry as a whole.