The third quarter saw many parts of the traditional media business in flux. New digital platforms that once had confined themselves to user-generated content began to invest in creating professional-quality content. At the same time, TV programmers began to wrestle with both the threat and the opportunity presented by second-screen and social-TV platforms. The period also saw the rollout of new device-based content ecosystems, red flags and red ink for traditional consumer electronics makers, and a resurgence of consumer purchases of movies. This quarterly wrap-up discusses these developments as well as offers trends and topics to watch for the remainder of 2012 and beyond.