CNBC is a very serious-minded financial news network, and what we've seen thus far from Fox appears to be not as investment-focused or financially focused, and that's good for us.

Network news will still play an incredibly important role in this country, but the world that Peter, Tom and Dan began covering 25 years ago isn't the same world today. Technology, lifestyle and what constitutes news have all changed dramatically. I'm not saying that it is better or worse. I'm just saying that it's reality.

Local television is a slightly different story. It is under much more pressure in the same way that all local businesses are, whether that's a local newspaper, local radio or local television. But I think television in the aggregate is actually in very good shape.

CNBC is a very serious-minded financial news network, and what we've seen thus far from Fox appears to be not as investment-focused or financially focused, and that's good for us.

It is a significant acknowledgment that the way people are watching television is changing and the model is quickly changing

More traffic means more advertising dollars.

People are looking for original content in many different places, as are advertisers. This takes us into a whole new ballgame.