MSNBC Panic, the Reign of Redstone, and the Murdochs’ ‘Succession’ Drama

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The media ecosystem is constantly evolving, disaggregating, and consolidating. The following is a lightly edited conversation between William D. Cohan, the longtime journalist and former M&A banker, and Dylan Byers, one of the foremost observers of the evolving tech-entertainment-financial landscape, about what’s really happening inside the industry.

Dylan Byers: So Bill, something happened last week that made me think of you. I was having—I was going to say coffee or drinks, but come to think of it we didn’t have anything except bottled water—with a prominent media executive (P.M.E.) and he tells me he thinks that journalists get it wrong when they state or imply that Shari Redstone is going to sell ViacomCBS.