It's a growing trend. Viewers are our customers, but so are advertisers. And advertisers want different ways to reach our viewers.

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

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.

It's a growing trend. Viewers are our customers, but so are advertisers. And advertisers want different ways to reach our viewers.

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

More traffic means more advertising dollars.

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.