Summary
This article is important because it highlights a very clear concept that is not being given enough attention...traditional media companies still have a great deal of reach, assets and power.
Analysis
While the idea of creating home made content (video) gives everyone a chance to have a voice, and the power of internet has proven to be phenomenal as it relates to providing the individual with a wide scale audience the fact remains that major media companies still spend countless dollars on creating main stream programming (films and television). These key pieces of content will continue to drive trends, taste and consumption. Chermin and FOX know this.
The content business has and will continue to be a great business simply because it continues to find new ways to reinvent distribution outlets. The large players will continue to buy businesses that will create cash flow as Chernin said...any entrepreneur smart enough to create a new platform will obviously want to partner with a major distributor in a sale as it immediately accelerates a yet to be proven business model.
