Why Trad Media Companies Still Succeeded In 2012

Legacy TV and video media had a lucrative 2012, despite all the dire predictions about "ad skipping, cord cutting and audience flight," writes David Carr. "What is making these dinosaurs dance?" he asks. Among the answers he gets from media analysts: "The companies collectively did not make dumb choices — consider the past acquisitions of AOL and The Wall Street Journal — and they made plenty of smart moves, including long-term deals that locked up content and a steady stream of fees." And: "Between retransmission fees and on-demand viewing, broadcasters are starting to look a lot more like cable channels, less dependent on advertising and enjoying steadier revenue as a result."

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