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.

The cable model is just a better model. Dual revenue stream: advertising-supported and subscription-supported revenues.

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

Were in this transition period of figuring out how to deal with all the new technology that is out there, but television still proves to be the granddaddy of them all.

Michael Jackson is the ultimate traffic accident. People can't take their eyes off him.

The television business is actually going through a tremendous transition, but I think at the end of the day, television is still paramount.