“I have a question for the group, actually. How many of you watch late-night on any network today? Raise your hand.” Few hands went up. That was how Paramount’s new COO, Andy Gordon, parried a question about Stephen Colbert’s cancellation during a meet-and-greet with journalists upon closing of the $8 billion merger with Skydance on Aug. 7.

The moment was telling, and not just for late-night. The same question could be asked about the Big 3 evening news broadcasts, or primetime lineups on cable news. It gives the impression of irrelevance, especially in the all-podcasts-are-video-are-TV-content moment that media executives appear to be experimenting with during a downsizing era. And yet, that narrative sells the TV news ecosystem short.

“I have a question for the group, actually. How m

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