When Ben Swinburne joined Morgan Stanley’s equity research team in 1999, companies like Netflix, Amazon, Facebook and Google were in their infancy, if they existed at all. Now, 18 years later, they're some of the most highly valued equities on stock markets. We spoke with Swinburne, now a managing director and head of media research at the bank, about how cord-cutting and the rise of streaming are affecting all companies, from legacy cable providers like Altice to movie studios like...

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