Media Trends Live Summit: Media leaders rethink business models

NEW YORK — Media leaders outlined new revenue strategies, distribution plans and audience engagement approaches at Axios' Media Trends Live Summit.Why it matters: AI, mergers and political pressures are reshaping the entertainment industry. How companies navigate these challenges will determine which legacy organizations survive and which newcomers stand out.The Oct. 20 event was sponsored by BBC Studios and Civic.Catch up quick: Here are our top takeaways.There's no price at which Hearst would sell its stake in ESPN, Hearst president and CEO Steven Swartz told Axios' Sara Fischer on stage, pointing in particular to the company's relationship with the NFL.Longest-running Saturday Night Live cast member, actor and comedian Kenan Thompson addressed the recent Shane Gillis controversy, saying that if Gillis were to return as a host, there would need to be a conversation "like a little kid" about what could have gone differently. "I would just sit him down and be like, 'Yeah, so what do you think we could change there, pal?'"Versant is unlikely to acquire Skydance's cable networks, Versant CEO Mark Lazarus told Fischer exclusively, and will instead focus on other M&A opportunities.Dem…

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