Is convergence dead?

Convergence, as in media convergence,  is one of those buzzwords that's actually hung around longer as a working concept than many in the media industry. Remember synergy. Rarely spoken as a business buzzword these days even if it still sound good in theory..

Newsrooms are "converged" and advertising sales are "bundled." Newsroom managers manage traditional and digital priorities. Reporters report for the Web and the traditional platform. Ad pricing is linked and account executives are expected to be product experts on a dizzying number of off-line and online products.

Does it work? Media consultant Gordon Borrell says:

“It is unlikely that any web operation can grow to its full potential without being significantly separated from its parent.”
Cory Bergman at LostRemote has more and sees convergence as an unsustainable strategy.

Do newspaper and TV Web sites need to be cut loose from the paradigm of their traditional media parent? We did that once. Yep, paradigm, as in Paradigm Shift, is another of those classic PowerPoint buzzwords sleepers.

What's your take?