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There seems to be a vulnerability at the networks in late night. They are losing more and more audience, particularly young viewers who are now looking at cable television. 'Tonight' is an old show. CBS has reruns, and having a public affairs series like 'Nightline' on ABC is a big mistake.

On daytime they continue to revisit a lot of the same stuff while nighttime does move on and show development.

Watching the evening news in 2011 is a strange time-travel experience. 'The CBS Evening News,' 'ABC World News' and 'NBC Nightly News' haven't changed their style over the decades, still going for that old-fashioned mix of voice-of-authority pomp and feel-good fluff. The difference is that people aren't watching.

You know how trends go with television. Next year, the networks might not be open to taking risks.

The television business is actually going through a tremendous transition, but I think at the end of the day, television is still paramount.

At Current, television is all we do - that's our business. We don't have amusement parks I have to worry about, we don't have environmental cases against us, we don't have a series of outdoor-advertising companies.

All three networks have always had a morning show but now cable of course is taking some of that audience away and a variety of other things, probably the Internet as well.

Television is ephemeral, a fact that some will find reassuring. But earthlings will continue to pump the kilowatts into the ether. And eventually, when those signals have washed over a few hundred thousand star systems, someone may notice.