Two years ago, I discovered podcasts. My car radio has not been off for two years. I now see more video via the Internet and podcasts than network television or radio..
NBC / M$ Vista are going to make it more difficult to view network television, with the "broadcast flag". This is easily "worked around", but probably not worth the trouble.
Today, CBS/Viacom announced their $1.8B purchase of CNet - one of the most prolific producers of the media that I prefer.
I believe that CBS is beginning to to understand the "new media" market, and NBC should have been put on GE's "auction block", along with GE appliances, this week - they are both "declining markets".
This will probably be a "B School" case study within the next few years.