Legendary newsman Dan Rather opens up to Cheddar CEO Jon Steinberg about his partnership with The Young Turks. Rather will host a daily half-hour show called "The News With Dan Rather."

Rather says his new show will offer commentary and analysis on today's news, something he never did at CBS. Reflecting on the state of the media today, Rather says, "you can't go back to yesterday."

He says moving to digital media is the most natural thing in the world to him because you "have to go where the buffalo are." Rather hopes to reach a new generation with his show.