Media industry consultant/publisher/authorJack Myers says that the VC-funded runway for most of 12,000 digital media start-ups is running out and there will be major consolidation over the next 36 months, in this inteview with Beet.TV

He says that as  few as 10 percent of the current crop will survive following a buying binge by the big media conglomerates.

Today, in what could a portent of tiny exists come, the Wall Street Journal reports that digital media darling Digg has been sold for $500k.

We spoke with him yesterday at the Admonsters online video conference where he was a speaker.  Myers was also on hand to sign his new book titled Hooked Up: a New Generation’s Suprising Take on Sex, Poltitics and Saving the World

Andy Plesser