Here are some more points that reinforce your ideas:

In December 2005, Viacom spun off CBS, the so-called Tiffany Network, lest the broadcast business impede growth and depress shareholder value.

Just before Christmas 2005, Time Inc. laid off 100 employees. Just after Christmas, in January 2006, Time Inc. laid off 100 more employees. In April 2006, Time Inc. laid off 250 more employees — the last round of job cuts, the company said. In January, Time Inc. laid off 300 more employees. No wonder. Since 2001, Time Warner’s market capitalization has shrunk to $82 billion from $193 billion.

Last fall, ostensibly to promote their new seasons, five broadcast networks bypassed their local affiliates and gave away new programs online, probably housed on YouTube.

In November 2006, Clear Channel — the boogeyman of media consolidation — sold to private-equity owners and declared that it wants to unload its TV and small-market radio stations. The sale fetched $38 a share. In 2000, the stock sold at $100 a share.

The Minneapolis Star Tribune, acquired by McClatchy in 1998 for $1.2 billion, was sold to private investors in December 2006 for $530 million.

In 2000, Chicago-based Tribune Co. was valued at $12 billion. It then bought Times-Mirror Co. for more than $8 billion. As of the end of March, with Tribune Co. for sale as a whole or in part, the value of the merged company is $7.34 billion.

YouTube. Two years ago, it — much less Joost and Revver and Brightcove and the online-video industry in general — did not exist.

Also, since Spring ’05 DVR penetration has doubled and according to Forrester Research this will expand to 50%$ or over. This is the threshold that major advertisers say they will dramatically reduce TV buys. This money is going to go online, but is the Internet, still in it’s infancy somewhat be able to absorb all these ad dollars?

It will be interesting to see how things shake out.

Note: The above stats come from Forrester Research, Public Company information as well as AdAge magazine of all places.