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Michael Bloomberg
Paley Center looking to reinvent itself for digital age
Paley Center looking to reinvent itself for digital age

The Paley Center for Media sits in the axis of the media universe in New York. The museum is within walking distance of the headquarters of CBS, NBCUniversal, 21st Century Fox and Time Warner. There, television leaders hobnob during industry breakfasts and historians sift through the archives of 160,000 radio and television segments. Jimmy Fallon was a regular there watching old footage when he was preparing to take over NBC's "The Tonight Show." But on a typical day, Paley Center's gleaming branch in Beverly Hills is nearly empty. Fewer visitors have stopped in since last summer when Warner Bros. packed up its popular exhibit that showcased props from shows, such...

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