One of the biggest (and currently unresolved) challenges that media fragmentation presents is knowing where and how to get cross platform and/or cross channel solutions in a siloed agency environment.
Attention is the currency. Sometimes (as much as I hate to admit it) that currency is lean back and traditional. The difference today is that we consume multi-channel media (i.e. we still can't assume traditional is dying - it's evolving) - so I'm more inclined to watch TV with my smart phone or tablet than choose to consume one channel.