So Conan has a new home now come November, and it’s TBS.

The school of thoughts are basically divided into two camps: 1.) OMG This is the best thing ever for him! and 2.) Now Conan is slumming.

But what many fail to realize is the single thing that makes the TBS deal the better option is thus: that Conan’s company Conaco will own the show, outright. And owning the show means determining distribution, and distribution means power.

Who will decide whether or not episodes will be available on places like Hulu, Fancast, Xbox Live, and PSN?  Conan and now only Conan.

Let’s face it, every day more people that give two craps about the term “network tv” die out, and more fans that will watch things on demand are born.  Controlling media distribution won’t just put more money in Conan’s pocket today (which it will), it will position his show to make a lot more in the future.

Conan will do well on TBS, and will do great things for the network.  But in the wild wild west of new media, he is going to do even better for himself.