1 00:00:00,320 --> 00:00:03,800 Speaker 1: This is the business of sports. Should Major League Baseball 2 00:00:04,040 --> 00:00:06,880 Speaker 1: shorten up the season? How do we present football to 3 00:00:06,920 --> 00:00:08,920 Speaker 1: the audience of the future. I don't think that most 4 00:00:08,920 --> 00:00:12,080 Speaker 1: players understand the power that they have. Michael. The future 5 00:00:12,080 --> 00:00:15,200 Speaker 1: of Indy car racing is looking bright. Scott sash Nick 6 00:00:15,360 --> 00:00:18,079 Speaker 1: very basic math here, more bidders means more money. Evan 7 00:00:18,120 --> 00:00:21,520 Speaker 1: Nobody Williams, the team value has essentially quadruples. And the 8 00:00:21,640 --> 00:00:24,040 Speaker 1: leaders in the sports industry. Time to bring in our 9 00:00:24,120 --> 00:00:27,400 Speaker 1: guest house fland Runner, National Hockey League Commissioner Gary Bettman, 10 00:00:27,480 --> 00:00:31,720 Speaker 1: Atlanta Braves president Derek Schiller, Patriots President Jonathan Kraft, Bloomberg 11 00:00:31,880 --> 00:00:35,640 Speaker 1: Business of Sports from Bloomberg Radio. Hello, I'm Michael barn 12 00:00:35,920 --> 00:00:39,000 Speaker 1: I'm Evan, Novie Williams and Scott Sashnik. Every week at 13 00:00:39,000 --> 00:00:42,240 Speaker 1: this time plus Monday's, Wednesdays and Thursdays, we will explore 14 00:00:42,280 --> 00:00:44,360 Speaker 1: She's got me, Medina's got me doing the Wei. I 15 00:00:44,440 --> 00:00:47,480 Speaker 1: knew something was a miss. Yeah you like? Because Evan 16 00:00:47,600 --> 00:00:49,880 Speaker 1: has this free pest. We explored the big money issues 17 00:00:49,920 --> 00:00:52,080 Speaker 1: in the world of sports and as always, talked to 18 00:00:52,120 --> 00:00:54,279 Speaker 1: some of the biggest players in the industry. On this 19 00:00:54,320 --> 00:00:58,640 Speaker 1: week's show, we have Sinclear broadcast Groups CEO and president 20 00:00:58,760 --> 00:01:02,800 Speaker 1: Christopher Ripley Blue It or Not? See what was? I 21 00:01:02,840 --> 00:01:05,640 Speaker 1: actually toyed with doing that and then decided probably best 22 00:01:05,680 --> 00:01:09,600 Speaker 1: not to. Yeah, I didn't, I wouldn't. Yeah, But first 23 00:01:10,040 --> 00:01:14,679 Speaker 1: let's get to this week's sports news. Fox Corporation is 24 00:01:14,760 --> 00:01:18,800 Speaker 1: buying almost five percent of the gaming giant Stars Group 25 00:01:19,200 --> 00:01:22,360 Speaker 1: and starting its own sports wagering platform, is by far 26 00:01:22,400 --> 00:01:25,800 Speaker 1: the biggest media investment yet in the burgeoning US sports 27 00:01:25,840 --> 00:01:29,240 Speaker 1: betting market. The media company controlled by Rupert Murdoch you've 28 00:01:29,240 --> 00:01:32,240 Speaker 1: heard of him and his family, will pay two six 29 00:01:32,240 --> 00:01:35,600 Speaker 1: million dollars for its steak in Toronto based Stars, which 30 00:01:35,720 --> 00:01:39,240 Speaker 1: last year bought Sky Betting and Gaming for four point 31 00:01:39,319 --> 00:01:42,280 Speaker 1: seven billion dollars. You know what you just said, You 32 00:01:42,360 --> 00:01:45,360 Speaker 1: did four point seven billion dollars. I mean the whole thing, 33 00:01:45,400 --> 00:01:46,880 Speaker 1: do you know what you just said? The big the 34 00:01:46,880 --> 00:01:51,160 Speaker 1: big thing there. Foxes in all in on betting, all in. 35 00:01:51,640 --> 00:01:55,160 Speaker 1: You're gonna have your free to play for the teetotalers 36 00:01:55,240 --> 00:01:57,800 Speaker 1: like me. You're gonna have your real money where the 37 00:01:58,040 --> 00:02:01,560 Speaker 1: state law allows for people like me, people like you 38 00:02:02,240 --> 00:02:07,120 Speaker 1: prepping themselves for World of widespread Let's bet on everything 39 00:02:07,240 --> 00:02:09,600 Speaker 1: in game on the screen. They want to be in 40 00:02:09,639 --> 00:02:12,399 Speaker 1: that world. That the interesting or the most interesting part 41 00:02:12,400 --> 00:02:14,400 Speaker 1: of it, besides that this big media brand is in, 42 00:02:14,919 --> 00:02:18,040 Speaker 1: is that sometime within the next ten years they have 43 00:02:18,120 --> 00:02:20,639 Speaker 1: When I say they, that means Fox has an option 44 00:02:20,680 --> 00:02:24,000 Speaker 1: to buy fifty of stars US business. What do you 45 00:02:24,000 --> 00:02:26,280 Speaker 1: think that business is going to be, Mr Novi Williams. 46 00:02:26,320 --> 00:02:28,839 Speaker 1: In let's say tenure, It's gonna be big. Fox will 47 00:02:28,840 --> 00:02:32,320 Speaker 1: need to decide if they want the regulatory colonoscopy that 48 00:02:32,360 --> 00:02:36,400 Speaker 1: comes along with taking a stake that size. Far far 49 00:02:36,600 --> 00:02:40,480 Speaker 1: do they want the Colonosco just wrecked the whole visial. 50 00:02:40,960 --> 00:02:43,919 Speaker 1: But no doubt, as you said, Michael, this is this 51 00:02:43,960 --> 00:02:46,400 Speaker 1: is the biggest move we've seen yet from a major 52 00:02:46,440 --> 00:02:50,519 Speaker 1: media company regarding sports betting. It probably won't be the last. 53 00:02:50,919 --> 00:02:53,040 Speaker 1: You know, obviously, a lot of eyes now shift we 54 00:02:53,120 --> 00:02:55,799 Speaker 1: have a problem, No, probably about to see to see 55 00:02:55,800 --> 00:03:01,239 Speaker 1: where they may be shift to horizon. And because it's Disney, Yeah, 56 00:03:01,240 --> 00:03:03,040 Speaker 1: I mean, Bob Iger has been you know, he's been 57 00:03:03,040 --> 00:03:05,960 Speaker 1: fairly vocal about his desire not to become a sports book. 58 00:03:06,200 --> 00:03:08,880 Speaker 1: Technically Fox is not becoming a sports book here either. 59 00:03:08,960 --> 00:03:10,760 Speaker 1: They're gonna I mean, really, I think the money that 60 00:03:10,800 --> 00:03:12,840 Speaker 1: they make off. This is going to be affiliate fees, 61 00:03:13,080 --> 00:03:16,600 Speaker 1: which is essentially the money they get for transferring customers 62 00:03:16,639 --> 00:03:18,919 Speaker 1: over to Stars Group, and you can imagine with the 63 00:03:18,919 --> 00:03:20,680 Speaker 1: strength of Foxes brand, that's going to be a lot 64 00:03:20,720 --> 00:03:23,200 Speaker 1: of money. Let's talk about Nike. They have something cool. 65 00:03:23,280 --> 00:03:26,840 Speaker 1: It's called a foot measured tool. It's an app. What 66 00:03:26,919 --> 00:03:29,760 Speaker 1: it's designed to do is well to measure your feet 67 00:03:29,840 --> 00:03:32,560 Speaker 1: so you can see if your sneakers actually got hold 68 00:03:32,560 --> 00:03:35,440 Speaker 1: on before I did not. The answer for me was no. 69 00:03:35,920 --> 00:03:38,720 Speaker 1: But Medina you can chime in as well. When you 70 00:03:38,760 --> 00:03:40,960 Speaker 1: go to the shoe store and you're buying new sneakers 71 00:03:41,000 --> 00:03:43,240 Speaker 1: or whatever. You know that silver measuring device that they 72 00:03:43,240 --> 00:03:47,080 Speaker 1: all have. Do you guys know what that's called the 73 00:03:47,160 --> 00:03:50,480 Speaker 1: thing that you put your fat said, the measuring thing right, yeah, 74 00:03:50,560 --> 00:03:52,400 Speaker 1: Medina is not even paying attention. You must part of it. 75 00:03:52,400 --> 00:03:56,120 Speaker 1: There isn't. There's a name for it. It's called the 76 00:03:56,120 --> 00:03:59,600 Speaker 1: brand device, and Nike is trying to make those obsolete. 77 00:04:00,080 --> 00:04:03,240 Speaker 1: The technology here that that Nike has developed is an 78 00:04:03,280 --> 00:04:06,400 Speaker 1: ability to scan your feet up against the wall when 79 00:04:06,400 --> 00:04:08,200 Speaker 1: you're at home. And the reason they want you to 80 00:04:08,200 --> 00:04:11,000 Speaker 1: do that is that the shoe that the side shoe 81 00:04:11,040 --> 00:04:13,120 Speaker 1: you wear in a in a specific Nike shoes, say 82 00:04:13,120 --> 00:04:15,560 Speaker 1: it's a basketball shoe, might not be the same size 83 00:04:15,600 --> 00:04:17,720 Speaker 1: that you should be in a specific running shoe or 84 00:04:17,760 --> 00:04:19,600 Speaker 1: in a soccer cleet. They want to get you in 85 00:04:20,120 --> 00:04:23,800 Speaker 1: the best fit possible, and there's business implications there too. 86 00:04:23,880 --> 00:04:27,360 Speaker 1: According to Nike, industry wide of shoes bought online, I 87 00:04:27,480 --> 00:04:31,240 Speaker 1: returned because of shoes, because of shoe problems. They get 88 00:04:31,320 --> 00:04:34,679 Speaker 1: over half a million complaints every year about shoe size. 89 00:04:35,480 --> 00:04:37,479 Speaker 1: People are walking around in a shoe that isn't the 90 00:04:37,480 --> 00:04:39,720 Speaker 1: proper fit for them. All of those things are things 91 00:04:39,800 --> 00:04:41,800 Speaker 1: Nike's trying to direct if always got the right size, 92 00:04:41,839 --> 00:04:46,000 Speaker 1: Hush puppy, I will say this, I do find a 93 00:04:46,040 --> 00:04:49,840 Speaker 1: hard time finding shoes that do fit my feet because 94 00:04:49,960 --> 00:04:53,360 Speaker 1: I tend to buy the men's shoes. Like the women's 95 00:04:53,360 --> 00:04:55,400 Speaker 1: sizes don't ever fit me properly, So I always go 96 00:04:55,600 --> 00:04:57,920 Speaker 1: with a with a men's sneaker. On the big question 97 00:04:57,920 --> 00:04:59,440 Speaker 1: that we started, do you know what remember when you 98 00:04:59,480 --> 00:05:01,559 Speaker 1: go to shoestore, those silver things where you measure your feet, 99 00:05:02,120 --> 00:05:03,640 Speaker 1: do you know what they're called? You know what it's called? 100 00:05:03,680 --> 00:05:05,440 Speaker 1: The Actually? Oh no, I have no idea, all right, 101 00:05:05,480 --> 00:05:07,679 Speaker 1: So that's all three of us. Yeah, to your point, Medina, 102 00:05:07,720 --> 00:05:09,400 Speaker 1: One of the things that Nike folks did say is 103 00:05:09,440 --> 00:05:12,240 Speaker 1: that this will if there are women out there for 104 00:05:12,279 --> 00:05:15,159 Speaker 1: whom their feet fit better in in in the proper 105 00:05:15,200 --> 00:05:17,960 Speaker 1: sized men's shoe, this app will also tell them that. 106 00:05:18,040 --> 00:05:19,960 Speaker 1: So you're ahead of the curve because you know that 107 00:05:20,000 --> 00:05:21,359 Speaker 1: you know there might be a menshee out there that 108 00:05:21,400 --> 00:05:23,159 Speaker 1: fits you better. But I think a lot of women 109 00:05:23,240 --> 00:05:26,040 Speaker 1: kind of pigeonholed themselves into just the women's shoes when 110 00:05:26,040 --> 00:05:27,680 Speaker 1: there may be a men's shoe that fits. But I 111 00:05:27,680 --> 00:05:31,840 Speaker 1: will say it's mostly because I actually preferred the men's 112 00:05:31,880 --> 00:05:34,880 Speaker 1: aesthetic on their sneaker than the women's. So I try 113 00:05:34,920 --> 00:05:36,520 Speaker 1: to find the men's not because I have like you 114 00:05:36,880 --> 00:05:38,640 Speaker 1: get both. Now, look if you had to point out 115 00:05:38,640 --> 00:05:40,960 Speaker 1: if not because I've got freakishly large exactly what's gonna say. 116 00:05:41,120 --> 00:05:44,920 Speaker 1: I'm forgive for not having tech. You don't have big feet, Well, 117 00:05:44,920 --> 00:05:48,120 Speaker 1: thank you forgive me for never having no how they 118 00:05:48,200 --> 00:05:57,320 Speaker 1: are your socks? Uh? Remember the Hartford Whaler, Oh, the 119 00:05:58,040 --> 00:06:03,200 Speaker 1: Civics Center and the mall and art for dress Bananca, Baby, 120 00:06:03,520 --> 00:06:12,720 Speaker 1: I feel so Stan, Mike, Leute Frances you know. In 121 00:06:12,760 --> 00:06:16,680 Speaker 1: case you guys forgot people out there. They are now 122 00:06:17,400 --> 00:06:21,800 Speaker 1: the Carolina Hurricanes. But you know what, people still love 123 00:06:21,880 --> 00:06:25,920 Speaker 1: the Hartford Whalers merchandise. They do, and they became the Hurricanes. 124 00:06:26,360 --> 00:06:29,880 Speaker 1: The Hurricanes this year twice war Whalers gear to sort 125 00:06:29,880 --> 00:06:33,200 Speaker 1: of honor their history. And as Mr Novi Williams found 126 00:06:33,200 --> 00:06:36,920 Speaker 1: out from the club that they sold almost two hundred 127 00:06:37,000 --> 00:06:40,120 Speaker 1: thousand dollars worth of merch on that first night, a 128 00:06:40,320 --> 00:06:44,240 Speaker 1: club record for the regular season. So people love the 129 00:06:44,279 --> 00:06:46,760 Speaker 1: whale tale. Now you wonder if they if they go 130 00:06:46,800 --> 00:06:48,520 Speaker 1: to the Stanley Cup Finals, if they can manage to 131 00:06:48,520 --> 00:06:50,960 Speaker 1: win it again. Imagine all the whales you'll be seeing 132 00:06:50,960 --> 00:06:53,640 Speaker 1: around town. Former podcast guest Tom Dundon when he bought 133 00:06:53,640 --> 00:06:57,480 Speaker 1: the team, you know, prioritized, you know, embracing the Whalers brand, 134 00:06:57,600 --> 00:07:00,279 Speaker 1: and it's it's worked out well for them. Speaking a 135 00:07:00,600 --> 00:07:04,279 Speaker 1: whale of a deal. See what you did there. Let's 136 00:07:04,360 --> 00:07:07,359 Speaker 1: get to this week's interview with Christopher Ripley, who is 137 00:07:07,400 --> 00:07:12,320 Speaker 1: the president and chief executive officer of Sinclair Broadcast Group, 138 00:07:12,400 --> 00:07:15,600 Speaker 1: made some news this week. Sinclair acquired the twenty one 139 00:07:15,760 --> 00:07:18,960 Speaker 1: rs ns that used to belong to Fox from Disney 140 00:07:19,000 --> 00:07:24,360 Speaker 1: for sale ten point six billion with a B dollars 141 00:07:24,560 --> 00:07:26,400 Speaker 1: and by the way, part of the group that's going 142 00:07:26,440 --> 00:07:29,120 Speaker 1: to also take the guest network. I still say that's 143 00:07:29,120 --> 00:07:33,560 Speaker 1: some oh lordy money, that's some real money. All right, well, Christopher, 144 00:07:33,560 --> 00:07:36,120 Speaker 1: thanks so much for joining us. Thank you, Scott. So 145 00:07:36,560 --> 00:07:39,160 Speaker 1: it's been a decent week for you. High you've been 146 00:07:39,160 --> 00:07:42,040 Speaker 1: a little busy. Anything new happening I should know about 147 00:07:43,840 --> 00:07:47,240 Speaker 1: just a little bit. It's been a nothing short of 148 00:07:47,280 --> 00:07:53,160 Speaker 1: a monumental week for for Sinclair. On Monday, we announced 149 00:07:53,600 --> 00:07:58,400 Speaker 1: the acquisition of one Fox are Sins for ten point 150 00:07:58,480 --> 00:08:02,200 Speaker 1: six billion at a six and a half times headline 151 00:08:02,240 --> 00:08:06,560 Speaker 1: multiple five and a half times after um tax benefits. 152 00:08:07,160 --> 00:08:08,720 Speaker 1: Did you have a group on? Did you have a 153 00:08:08,720 --> 00:08:13,120 Speaker 1: group on at a group on? Yeah, well at that number, 154 00:08:14,080 --> 00:08:17,200 Speaker 1: it was a great number. And um the stock market 155 00:08:17,240 --> 00:08:22,400 Speaker 1: obviously reacted very positively with sending a stock up about 156 00:08:22,440 --> 00:08:27,520 Speaker 1: thirty in the first day. And we were just in 157 00:08:27,600 --> 00:08:29,920 Speaker 1: the right place at the right time, and in many 158 00:08:30,000 --> 00:08:34,360 Speaker 1: respects it was a forced sale by the do O 159 00:08:34,480 --> 00:08:39,079 Speaker 1: J and UH the five or so other strategics which 160 00:08:39,120 --> 00:08:42,640 Speaker 1: really um you know, had much more, much bigger, and 161 00:08:42,800 --> 00:08:46,760 Speaker 1: much deeper pockets than us. Um um that that should 162 00:08:46,760 --> 00:08:50,280 Speaker 1: have bought this business before US, UH, you know, weren't 163 00:08:50,280 --> 00:08:54,400 Speaker 1: in the weren't in the in the auction, so we 164 00:08:54,480 --> 00:08:57,480 Speaker 1: really benefited from that. Now, the people who were involved, 165 00:08:57,520 --> 00:08:59,240 Speaker 1: at least many of the people involved, had told me 166 00:08:59,320 --> 00:09:02,559 Speaker 1: during the process that it was a very difficult transaction. 167 00:09:02,720 --> 00:09:07,720 Speaker 1: Do you agree with that assessment? I do, UM it 168 00:09:07,840 --> 00:09:12,480 Speaker 1: was difficult for a lot of different reasons. UM. You know, 169 00:09:12,679 --> 00:09:15,600 Speaker 1: UM as I mentioned that the there there was you know, 170 00:09:16,160 --> 00:09:23,400 Speaker 1: five very well well healed UM strategic acquires that that 171 00:09:23,520 --> 00:09:27,480 Speaker 1: should have been in the process but weren't, and it 172 00:09:27,520 --> 00:09:31,439 Speaker 1: would have been easy easier for them to evaluate UM 173 00:09:31,480 --> 00:09:35,280 Speaker 1: this but we were the only strategic that was looking 174 00:09:35,320 --> 00:09:40,440 Speaker 1: at the whole portfolio and the rest of the the 175 00:09:40,480 --> 00:09:44,719 Speaker 1: rest of the bidders were all financial bidders, and they 176 00:09:44,760 --> 00:09:48,600 Speaker 1: did find this process very difficult. It was even difficult 177 00:09:48,640 --> 00:09:51,360 Speaker 1: for us, UM, you know, all the way down from 178 00:09:51,720 --> 00:09:57,200 Speaker 1: very stringent clean team rules where UM only certain people 179 00:09:57,280 --> 00:10:00,160 Speaker 1: could see the contracts. In fact, my I couldn't even 180 00:10:00,160 --> 00:10:03,840 Speaker 1: see the contracts myself. Only only our outside lawyers could 181 00:10:03,880 --> 00:10:07,000 Speaker 1: and they had to report back, and so information was 182 00:10:07,040 --> 00:10:12,000 Speaker 1: slow and coming. Given that Fox was these are Fox assets, 183 00:10:12,040 --> 00:10:15,680 Speaker 1: but UM Disney was the one running the auction. There 184 00:10:15,720 --> 00:10:18,640 Speaker 1: was a mismatch there in terms of UM, you know, 185 00:10:18,640 --> 00:10:22,080 Speaker 1: the workflow and alignment of interest, and then all the 186 00:10:22,120 --> 00:10:25,000 Speaker 1: confidentiality around all the contracts as I mentioned, made it 187 00:10:25,480 --> 00:10:29,320 Speaker 1: all that more difficult. And for a financial buyer looking 188 00:10:29,360 --> 00:10:33,000 Speaker 1: at this UM, it was just a very very difficult 189 00:10:33,360 --> 00:10:37,679 Speaker 1: UM thing to get their head around. UM. Not like 190 00:10:37,920 --> 00:10:40,760 Speaker 1: a normal industrial business that they're used to buying, where 191 00:10:41,160 --> 00:10:42,520 Speaker 1: you know, you make a widget and you sell it 192 00:10:42,559 --> 00:10:46,240 Speaker 1: to a consumer and media things are quite different. This 193 00:10:46,320 --> 00:10:49,079 Speaker 1: is going to be a very simple question, and I'm 194 00:10:49,080 --> 00:10:51,520 Speaker 1: sure one you have thought about the large implications, but 195 00:10:52,000 --> 00:10:55,520 Speaker 1: fans and customers probably want to know why did you 196 00:10:55,559 --> 00:11:01,240 Speaker 1: want them? What's the strategy? Well, our our strategy has 197 00:11:01,679 --> 00:11:06,000 Speaker 1: been focused on sports for quite some time. UH we 198 00:11:06,640 --> 00:11:11,599 Speaker 1: you know, well really news and sports. And this acquisition 199 00:11:12,160 --> 00:11:16,760 Speaker 1: really makes us the pre eminent company in the in 200 00:11:16,840 --> 00:11:20,600 Speaker 1: the country in local news and sports. And we have 201 00:11:20,720 --> 00:11:24,160 Speaker 1: always been a strong news company for quite some time 202 00:11:24,640 --> 00:11:28,120 Speaker 1: with all of our local news stations. We are the 203 00:11:28,160 --> 00:11:32,600 Speaker 1: biggest producer of local news uh in the country. UM 204 00:11:32,679 --> 00:11:36,600 Speaker 1: and UM. Starting a few years back, we we took 205 00:11:36,640 --> 00:11:40,720 Speaker 1: a keener interest in sports. UM. We had already had 206 00:11:40,880 --> 00:11:45,360 Speaker 1: a decent sports portfolio with the NFL football and another 207 00:11:45,400 --> 00:11:51,360 Speaker 1: sports coming from our network relationships. We had a wrestling 208 00:11:51,760 --> 00:11:54,920 Speaker 1: promotion called Ring of Honor, and then three years ago 209 00:11:55,040 --> 00:12:00,520 Speaker 1: we bought our first cable channel, Tennis Channel and UM 210 00:12:00,600 --> 00:12:04,040 Speaker 1: and and that has been a phenomenal success for us, 211 00:12:04,640 --> 00:12:07,040 Speaker 1: but we we knew we wanted to do more in sports. 212 00:12:07,320 --> 00:12:13,120 Speaker 1: UM Sports and news are the twin pillars of linear 213 00:12:13,200 --> 00:12:19,400 Speaker 1: live viewing. They're massively outperforming all of their genres in 214 00:12:19,520 --> 00:12:25,640 Speaker 1: terms of live viewing due to the huge influx of 215 00:12:25,800 --> 00:12:31,040 Speaker 1: dollars UM from from from cable companies and now big 216 00:12:31,080 --> 00:12:35,360 Speaker 1: tech just flooding the marketplace with new general entertainment programming 217 00:12:35,400 --> 00:12:39,640 Speaker 1: which is largely being consumed on demand. And as a 218 00:12:39,679 --> 00:12:43,720 Speaker 1: smaller company in the ecosystem, we knew there was no 219 00:12:43,760 --> 00:12:47,440 Speaker 1: way we could compete UH in general entertainment with the 220 00:12:47,480 --> 00:12:51,960 Speaker 1: type of UM depocketed competitors that were coming in with 221 00:12:52,080 --> 00:12:56,120 Speaker 1: low to know profit motives, at least in the genres 222 00:12:56,960 --> 00:12:59,120 Speaker 1: and news and sports was going to be an area 223 00:12:59,160 --> 00:13:01,640 Speaker 1: that we could we could carve out a profitable and 224 00:13:01,720 --> 00:13:08,600 Speaker 1: sustainable business and this acquisition was really a capstone move 225 00:13:08,760 --> 00:13:11,959 Speaker 1: for us that shifted our business in a big way. 226 00:13:12,640 --> 00:13:16,360 Speaker 1: UH to be leaders in local sports and news. Can 227 00:13:16,400 --> 00:13:18,320 Speaker 1: I tell you something about the Tennis Channel that you 228 00:13:18,400 --> 00:13:21,360 Speaker 1: might not know? This is a conversation I had with 229 00:13:21,440 --> 00:13:25,280 Speaker 1: Kenny Solomon years ago. Do you know which tennis fan 230 00:13:26,160 --> 00:13:29,320 Speaker 1: would often o midnight one am, be watching the tournament, 231 00:13:29,679 --> 00:13:32,000 Speaker 1: shoot him an email or a text and say, you know, 232 00:13:32,120 --> 00:13:33,960 Speaker 1: I don't like the graphics are right now? You know 233 00:13:34,080 --> 00:13:36,880 Speaker 1: you could do a little bit better here design wise. 234 00:13:37,120 --> 00:13:40,800 Speaker 1: Do you know who that person is? A tennis fan 235 00:13:40,920 --> 00:13:45,080 Speaker 1: at one am? Who would email Ken Solomon? I should 236 00:13:45,120 --> 00:13:47,840 Speaker 1: know that. I'm embarrassed to say that. No, no, no, 237 00:13:48,000 --> 00:13:49,800 Speaker 1: maybe not, but I want to let you know that 238 00:13:49,840 --> 00:13:53,240 Speaker 1: you may one day you get some get some requests 239 00:13:53,280 --> 00:13:58,480 Speaker 1: by one Anna Wintour. Ah Anna Wintour. Yes, you know, 240 00:13:58,640 --> 00:14:01,000 Speaker 1: it's amazing to me. It's a great that. It's a 241 00:14:01,040 --> 00:14:04,840 Speaker 1: great anecdote there. But it's always amazing to me. Wherever 242 00:14:05,000 --> 00:14:09,560 Speaker 1: I go there are so many Tennis Channel fans, especially 243 00:14:10,160 --> 00:14:13,000 Speaker 1: you know, famous ones, and I bumped into them all 244 00:14:13,040 --> 00:14:14,920 Speaker 1: the time and they tell me how much they love 245 00:14:15,400 --> 00:14:18,240 Speaker 1: the Tennis Channel. Chris, it feels like every day on 246 00:14:18,280 --> 00:14:20,480 Speaker 1: this show we're talking more and more about you know 247 00:14:20,560 --> 00:14:22,800 Speaker 1: the spread of legal sports gambling and the and the 248 00:14:23,000 --> 00:14:27,120 Speaker 1: tremendous business opportunity there, especially in the media space. How 249 00:14:27,200 --> 00:14:31,600 Speaker 1: much did you know the the opportunity in gambling alongside 250 00:14:32,040 --> 00:14:34,520 Speaker 1: live sports rights. How much did that kind of way 251 00:14:34,560 --> 00:14:40,600 Speaker 1: on your decision here. Look, I would have made this acquisition, um, 252 00:14:41,480 --> 00:14:45,800 Speaker 1: you know, not having legalized sports betting coming into the 253 00:14:45,920 --> 00:14:48,600 Speaker 1: into the picture for all the reasons that I just 254 00:14:48,680 --> 00:14:52,000 Speaker 1: said around. You know, what we think is, you know, 255 00:14:52,080 --> 00:14:56,360 Speaker 1: sustainable areas that we can compete with in news and sports, um, 256 00:14:56,440 --> 00:15:00,840 Speaker 1: but having legalized sports bet which I think is going 257 00:15:00,920 --> 00:15:03,600 Speaker 1: to be a huge, mega trend here in the US 258 00:15:03,880 --> 00:15:07,320 Speaker 1: on top of that is just makes it all all 259 00:15:07,360 --> 00:15:10,480 Speaker 1: the much more sweeter for us. I mean, we we 260 00:15:10,560 --> 00:15:14,760 Speaker 1: really do believe this positions us to be a prime 261 00:15:14,840 --> 00:15:21,560 Speaker 1: beneficiary of of that trend. And we're already seeing some 262 00:15:22,000 --> 00:15:26,760 Speaker 1: rs ns UM experiment with dual feeds, where one feed 263 00:15:27,560 --> 00:15:30,360 Speaker 1: they send out is gaming centric, so that those who 264 00:15:30,360 --> 00:15:34,120 Speaker 1: are interested in gaming can can choose to to watch 265 00:15:34,560 --> 00:15:40,200 Speaker 1: a different feed with with the stats and interactive ability 266 00:15:40,320 --> 00:15:45,160 Speaker 1: to to make in game wagers while they watch, which 267 00:15:45,160 --> 00:15:48,720 Speaker 1: if you look at Europe, I mean that's that's a big, 268 00:15:48,920 --> 00:15:51,240 Speaker 1: huge part of the business, and I think that's where 269 00:15:51,240 --> 00:15:54,520 Speaker 1: we're headed and it's a massive opportunity for us. You've 270 00:15:54,560 --> 00:16:00,680 Speaker 1: also mentioned your interest in other rs ns talking about 271 00:16:00,680 --> 00:16:03,440 Speaker 1: your sports properties. You're partnering with the Cubs coming up 272 00:16:03,440 --> 00:16:05,640 Speaker 1: on their on their own venture. What are the other 273 00:16:06,240 --> 00:16:08,400 Speaker 1: there specific other our sins that you're looking at? Kind 274 00:16:08,400 --> 00:16:11,520 Speaker 1: of how big is your ambition from the regional sports 275 00:16:11,560 --> 00:16:15,600 Speaker 1: network standpoint? We have an appetite to do more. There's 276 00:16:15,640 --> 00:16:20,920 Speaker 1: been there's been news reports of us engaged in uh 277 00:16:21,000 --> 00:16:26,160 Speaker 1: in other um ours and activity which I won't specifically 278 00:16:26,240 --> 00:16:29,880 Speaker 1: comment on, but you know, I think you you all 279 00:16:29,880 --> 00:16:34,320 Speaker 1: know what I'm talking about, and and so we certainly 280 00:16:34,360 --> 00:16:39,359 Speaker 1: do have an appetite to add more to the portfolio. 281 00:16:40,160 --> 00:16:43,640 Speaker 1: Um what's nice about the Fox acquisition is it it 282 00:16:43,880 --> 00:16:48,800 Speaker 1: is the largest collection of our sins already. It gives 283 00:16:48,920 --> 00:16:54,240 Speaker 1: us a significant scale in the business and and and 284 00:16:54,360 --> 00:16:57,680 Speaker 1: media at the end of the day, has become a 285 00:16:57,800 --> 00:17:03,440 Speaker 1: scale business. So if we never bought or operated another 286 00:17:03,600 --> 00:17:08,119 Speaker 1: ARS and we'd be fine. But but to the extent 287 00:17:08,160 --> 00:17:11,239 Speaker 1: there are other opportunities, we're definitely interested. Does it make 288 00:17:11,400 --> 00:17:13,600 Speaker 1: I mean, how much more valuable is each incremental one 289 00:17:13,640 --> 00:17:16,760 Speaker 1: that you can add, given that you know every single 290 00:17:17,000 --> 00:17:19,399 Speaker 1: step forward you make gives you a bit more leverage 291 00:17:19,400 --> 00:17:24,399 Speaker 1: when it comes to carryer agreements, etcetera. Well, look, I 292 00:17:24,440 --> 00:17:29,360 Speaker 1: think the strength of the product speaks for itself, regardless 293 00:17:29,440 --> 00:17:35,640 Speaker 1: of whether you've got um, you know, twenty one or one. Uh. 294 00:17:35,840 --> 00:17:39,000 Speaker 1: You know, this is great content that that distributors will 295 00:17:39,040 --> 00:17:42,960 Speaker 1: want to bring to their subscribers. UM. I think that 296 00:17:43,119 --> 00:17:48,960 Speaker 1: the answer to your question can't be said generally, UM 297 00:17:49,119 --> 00:17:51,840 Speaker 1: besides just saying that you know, this is a scale 298 00:17:51,840 --> 00:17:57,560 Speaker 1: business overall in all of media, in all genres. UM. 299 00:17:57,680 --> 00:18:01,240 Speaker 1: Beyond that, it'll it'll be really, you know, a a 300 00:18:01,280 --> 00:18:06,439 Speaker 1: deal by deal analysis. UM. I certainly think that some 301 00:18:06,520 --> 00:18:11,600 Speaker 1: of the independence out there, UM would would do well, 302 00:18:11,840 --> 00:18:15,720 Speaker 1: um you know, to be a big talking to us. Uh. 303 00:18:15,760 --> 00:18:18,720 Speaker 1: Those those are probably where some of the best um, 304 00:18:18,800 --> 00:18:23,760 Speaker 1: you know, synergies exist. We're talking with Sinclair CEO Christopher Ripley, 305 00:18:23,840 --> 00:18:27,440 Speaker 1: and the left side of my brain was going to ask, Okay, 306 00:18:27,480 --> 00:18:30,680 Speaker 1: what's the endgame? And the right side of my brain said, well, 307 00:18:30,680 --> 00:18:33,000 Speaker 1: that's a pretty stupid question because you don't want to 308 00:18:33,040 --> 00:18:36,360 Speaker 1: put yourself into a box, and you've proven that when 309 00:18:36,359 --> 00:18:39,640 Speaker 1: you spent more than ten billion dollars on the Fox 310 00:18:40,119 --> 00:18:43,440 Speaker 1: R S N S SO I'm asking now as a 311 00:18:44,359 --> 00:18:47,360 Speaker 1: part of your brain, well, the questions, Well, yeah, that's 312 00:18:47,400 --> 00:18:50,560 Speaker 1: that's the egg frying park. But that's another story. What 313 00:18:50,880 --> 00:18:53,320 Speaker 1: I'm getting at is you can't put yourself in a 314 00:18:53,440 --> 00:18:58,080 Speaker 1: box when you are a business and you've proven that 315 00:18:58,520 --> 00:19:03,000 Speaker 1: can can you offer some advice for people out there 316 00:19:03,080 --> 00:19:06,600 Speaker 1: who are trying to start small and grow into this 317 00:19:07,000 --> 00:19:10,440 Speaker 1: why you should always grow? Well? Listen. I think it's 318 00:19:10,600 --> 00:19:14,639 Speaker 1: it's an interesting question because in many ways, you know, 319 00:19:14,680 --> 00:19:17,000 Speaker 1: you may look at this acquisition and say, wow, ten 320 00:19:17,040 --> 00:19:21,960 Speaker 1: point six billion dollars, that's huge, but we're actually still 321 00:19:22,680 --> 00:19:28,720 Speaker 1: peons in the greater media landscape, which is increasingly being 322 00:19:29,119 --> 00:19:35,439 Speaker 1: um UM dominated by big, big tech companies that but 323 00:19:35,640 --> 00:19:38,879 Speaker 1: you know, just just the diversified media companies alone that 324 00:19:38,960 --> 00:19:42,600 Speaker 1: we compete with our multiples, our size even after this 325 00:19:42,720 --> 00:19:48,600 Speaker 1: acquisition and so um you know, for us, UM we 326 00:19:48,760 --> 00:19:53,919 Speaker 1: had to figure out where we could sustainably compete, and 327 00:19:53,960 --> 00:19:56,719 Speaker 1: that's why we picked sports and news. And if if 328 00:19:56,760 --> 00:19:59,679 Speaker 1: you're small and you're you know, you're smaller than us, 329 00:19:59,680 --> 00:20:02,720 Speaker 1: and you're looking at you know, you're looking at competing 330 00:20:02,720 --> 00:20:05,760 Speaker 1: with bigger people, which is you know exactly what we're 331 00:20:05,760 --> 00:20:09,760 Speaker 1: faced with. UM I would approach it in just the 332 00:20:09,840 --> 00:20:14,120 Speaker 1: same way. Figure out where you can be unique, what 333 00:20:15,280 --> 00:20:19,320 Speaker 1: is your sustainable advantage that you can bring to the 334 00:20:19,359 --> 00:20:23,200 Speaker 1: marketplace and UH and for us, you know that that's 335 00:20:23,320 --> 00:20:25,760 Speaker 1: that's how you win in any business, but but especially 336 00:20:25,800 --> 00:20:29,120 Speaker 1: if you're small and you're outgunned, which which we are 337 00:20:29,160 --> 00:20:33,040 Speaker 1: in terms of you know, depocketed UM, you know, competitors 338 00:20:33,040 --> 00:20:36,560 Speaker 1: in the form of large media or large tech. And 339 00:20:37,119 --> 00:20:41,919 Speaker 1: for us, UM that answer became focus, our focus on 340 00:20:41,960 --> 00:20:45,560 Speaker 1: local and our service to the communities and coupling that 341 00:20:45,720 --> 00:20:48,399 Speaker 1: with news and sports. We're chatting with Chris Ripley, CEO 342 00:20:48,440 --> 00:20:50,800 Speaker 1: of Sinclair and Chris are your believer that the things 343 00:20:50,880 --> 00:20:53,760 Speaker 1: will be big time bidders for live sports rights. It's 344 00:20:53,800 --> 00:20:56,760 Speaker 1: not critical or quart of what they do. We see 345 00:20:57,040 --> 00:20:59,359 Speaker 1: toes and water, But do you think they're ready to 346 00:20:59,400 --> 00:21:03,880 Speaker 1: dive into the deep. And I do think they will 347 00:21:04,040 --> 00:21:09,359 Speaker 1: enter into pretty much every facet of media. UM, you know, 348 00:21:09,400 --> 00:21:13,080 Speaker 1: just seeing them do it sort of genre a by 349 00:21:13,200 --> 00:21:17,399 Speaker 1: genre of starting first with general entertainment where the most 350 00:21:17,480 --> 00:21:22,359 Speaker 1: viewership is UM and UM, I just I suspect it's 351 00:21:22,400 --> 00:21:26,000 Speaker 1: just a matter of time before UH they enter into 352 00:21:26,440 --> 00:21:32,800 Speaker 1: all the genres. And I like our position here because 353 00:21:33,080 --> 00:21:37,199 Speaker 1: no matter how much money a big tech company throws 354 00:21:37,359 --> 00:21:40,200 Speaker 1: at sports, there are only a hundred and sixty odd 355 00:21:41,280 --> 00:21:46,200 Speaker 1: baseball games a year, and add NHL games and NFL, 356 00:21:46,600 --> 00:21:52,040 Speaker 1: NBA games, and unlike general entertainment, where you can always 357 00:21:52,080 --> 00:21:56,960 Speaker 1: create more and more content, which is what's really dogging 358 00:21:56,960 --> 00:21:59,399 Speaker 1: the market right now in terms of a massive oversupply. 359 00:22:00,080 --> 00:22:03,280 Speaker 1: You can't really change that. Um in sports TV they 360 00:22:03,320 --> 00:22:06,000 Speaker 1: have the rights of the games, you don't, and we 361 00:22:06,119 --> 00:22:07,760 Speaker 1: have the rights of the game. So I like our 362 00:22:07,760 --> 00:22:10,760 Speaker 1: positioning there. We're chatting with Chris Ripley, CEO of Sinclair 363 00:22:10,800 --> 00:22:13,280 Speaker 1: and Chris, one of the big ease that was not 364 00:22:13,440 --> 00:22:16,200 Speaker 1: part of the group was the S network. Yankees did 365 00:22:16,200 --> 00:22:18,159 Speaker 1: exercise their option to buy it back. You're part of 366 00:22:18,160 --> 00:22:21,719 Speaker 1: that group. But Amazon is also in continuing that fang. 367 00:22:22,440 --> 00:22:26,080 Speaker 1: What is this going to look like? Can you assist me? 368 00:22:26,720 --> 00:22:28,679 Speaker 1: Five I don't even over they go that far down 369 00:22:28,720 --> 00:22:31,840 Speaker 1: there are three five years. Are we looking at sort 370 00:22:31,880 --> 00:22:36,159 Speaker 1: of a reimagined rs N app where you can really 371 00:22:36,240 --> 00:22:38,720 Speaker 1: scale that sort of media around the world, offering different 372 00:22:38,800 --> 00:22:41,439 Speaker 1: kinds of content, maybe live games at some point, But 373 00:22:41,720 --> 00:22:43,080 Speaker 1: can you help me out what this is going to 374 00:22:43,240 --> 00:22:48,400 Speaker 1: look like? Well, the well, they our sens have been 375 00:22:48,800 --> 00:22:53,040 Speaker 1: very successful in transitioning from traditional m v p d s, 376 00:22:54,480 --> 00:22:57,359 Speaker 1: which are the cable companies and the satellite companies like 377 00:22:57,480 --> 00:23:00,960 Speaker 1: Comcast and Direct TV, on to the virtual m v 378 00:23:01,080 --> 00:23:08,560 Speaker 1: p s which are Hulu, YouTube Live, uh, Fubo, um 379 00:23:09,280 --> 00:23:13,520 Speaker 1: slang um and and and they've they've built a business 380 00:23:13,560 --> 00:23:16,880 Speaker 1: over a few short years from zero subscribers to now 381 00:23:17,000 --> 00:23:20,720 Speaker 1: five million subscribers. This is the fox are sins, and 382 00:23:20,720 --> 00:23:26,240 Speaker 1: and that's growing fast as people transition from traditional consumption 383 00:23:26,280 --> 00:23:31,639 Speaker 1: to streaming based consumption. And I think the next frontier 384 00:23:32,440 --> 00:23:35,439 Speaker 1: after virtual m v p d s are streaming based 385 00:23:35,720 --> 00:23:40,280 Speaker 1: m v p d s is onto um uh these 386 00:23:41,119 --> 00:23:45,000 Speaker 1: big spot platforms, uh you know which what you see 387 00:23:45,000 --> 00:23:48,280 Speaker 1: at Amazon with you know, obviously Apples getting into the game, 388 00:23:49,520 --> 00:23:54,520 Speaker 1: A T and T. Warner Media is launching later this year. 389 00:23:54,600 --> 00:23:58,160 Speaker 1: You're only going to see more and more of these spots. 390 00:23:58,240 --> 00:24:01,359 Speaker 1: Disneys is launching and they're going to have really a 391 00:24:01,400 --> 00:24:06,040 Speaker 1: mega bundle when they tie together um Disney Plus and 392 00:24:06,080 --> 00:24:11,040 Speaker 1: the ESPN Plus and and Hulu and these these s 393 00:24:11,119 --> 00:24:13,840 Speaker 1: votes are going to start looking a lot more like 394 00:24:14,680 --> 00:24:20,240 Speaker 1: m v p ds with multiple channels and offerings bundled together, 395 00:24:21,000 --> 00:24:26,119 Speaker 1: and the next frontier for the rs NS will be UM, 396 00:24:26,160 --> 00:24:29,280 Speaker 1: you know, some sort of distribution relationship with them. Meredith 397 00:24:29,320 --> 00:24:31,520 Speaker 1: has one in Zumo. Is that something you're interested in? 398 00:24:33,800 --> 00:24:37,800 Speaker 1: M Zoomo is an interesting platform. UM. We have something 399 00:24:37,920 --> 00:24:43,119 Speaker 1: very similar to that called Stir, and both Zumo and 400 00:24:43,160 --> 00:24:48,600 Speaker 1: Stir are free and ad supported UM, which is probably 401 00:24:48,640 --> 00:24:52,879 Speaker 1: not a good fit for the rs NS. UM. You 402 00:24:52,880 --> 00:24:57,800 Speaker 1: know they are are percent you know, subscriber based either 403 00:24:57,920 --> 00:25:01,199 Speaker 1: via the you know, the cable companies or or spot. 404 00:25:01,359 --> 00:25:06,320 Speaker 1: So UM it's to me that's a different that's a 405 00:25:06,320 --> 00:25:10,840 Speaker 1: different market uh than than they are. Sense. One question 406 00:25:10,840 --> 00:25:14,400 Speaker 1: I wanted to ask you, and this concerns when I 407 00:25:14,440 --> 00:25:19,600 Speaker 1: see a great game like baseball, uh and unfortunately in 408 00:25:19,720 --> 00:25:25,600 Speaker 1: the ballpark itself, the attendance is low uh And baseball 409 00:25:25,640 --> 00:25:29,400 Speaker 1: is a great game, and I don't understand why we're 410 00:25:29,480 --> 00:25:32,200 Speaker 1: seeing this, and I just wanted your reflection on it. 411 00:25:32,359 --> 00:25:34,359 Speaker 1: I mean, because yes, that's the good thing about a 412 00:25:34,359 --> 00:25:37,080 Speaker 1: regional sports network is that you can show the game, 413 00:25:37,160 --> 00:25:40,040 Speaker 1: but people aren't going to the park the way they 414 00:25:40,119 --> 00:25:43,960 Speaker 1: used to. Can if you can delve into that, you know, 415 00:25:44,200 --> 00:25:50,240 Speaker 1: I'm not an expert on in UM in person exhibition. 416 00:25:51,400 --> 00:25:56,320 Speaker 1: That's probably a better question for for MLB. UM, but 417 00:25:56,440 --> 00:26:00,720 Speaker 1: I will say that, you know, the product that the 418 00:26:00,960 --> 00:26:05,160 Speaker 1: rsns deliver to your living room is second to none, 419 00:26:05,600 --> 00:26:12,000 Speaker 1: and you know, the commentators, the production value and um, 420 00:26:12,359 --> 00:26:16,240 Speaker 1: you know, the stay at home alternative is very very strong, 421 00:26:16,680 --> 00:26:22,160 Speaker 1: and that's why some of the most watched programming on television. 422 00:26:22,800 --> 00:26:26,720 Speaker 1: And uh, whether that factors into the tradeoff of whether 423 00:26:26,760 --> 00:26:29,480 Speaker 1: people want to, uh, you know, show up in person 424 00:26:30,560 --> 00:26:33,720 Speaker 1: versus watching at home, I gotta imagine that that has 425 00:26:33,920 --> 00:26:36,000 Speaker 1: a part part to do with it. And I'm sure 426 00:26:36,040 --> 00:26:40,359 Speaker 1: there's many other reasons, but it's really not my my 427 00:26:40,440 --> 00:26:42,760 Speaker 1: area of expertise to comment on. Let me let me 428 00:26:42,800 --> 00:26:44,560 Speaker 1: stick to your air and we'll let you go out 429 00:26:44,600 --> 00:26:50,280 Speaker 1: on this, Chris. Uh. The confidence you have that the 430 00:26:50,480 --> 00:26:53,399 Speaker 1: rs ns and sports in general will hold the value. 431 00:26:53,880 --> 00:26:57,199 Speaker 1: There's there's some pushback in some pressure on pricing. What 432 00:26:57,359 --> 00:27:01,720 Speaker 1: makes you confident that people will always want those sports 433 00:27:01,760 --> 00:27:06,240 Speaker 1: and that people will be willing to pay for them? 434 00:27:06,280 --> 00:27:08,320 Speaker 1: You know, I think there's a lot of noise around 435 00:27:08,520 --> 00:27:12,920 Speaker 1: the cost of programming and the cost of the TV bundle, 436 00:27:13,560 --> 00:27:19,280 Speaker 1: but when you really analyze it, um, the overall TV 437 00:27:19,440 --> 00:27:24,080 Speaker 1: bundle is one of the most unbelievable in entertainment values 438 00:27:25,000 --> 00:27:29,600 Speaker 1: UM ever offered, and specifically when you look at the 439 00:27:29,760 --> 00:27:34,440 Speaker 1: rs ns for the price of less than a Starbucks cappuccino, 440 00:27:35,800 --> 00:27:40,280 Speaker 1: the local the whole household gets to enjoy on a 441 00:27:40,320 --> 00:27:45,920 Speaker 1: monthly basis. Uh, they're games almost every night from their 442 00:27:46,000 --> 00:27:52,159 Speaker 1: local baseball team, basketball team, and hockey team. And uh, 443 00:27:52,200 --> 00:27:57,520 Speaker 1: you know that price point is an unbelievable value. Chris, 444 00:27:57,560 --> 00:27:59,119 Speaker 1: I'm gonna do me if I need you to do 445 00:27:59,200 --> 00:28:01,600 Speaker 1: me a favorite, call my wife and I'd like you 446 00:28:01,640 --> 00:28:04,200 Speaker 1: to repeat what we just said, because if she orders 447 00:28:04,200 --> 00:28:08,400 Speaker 1: another iced soy latte at whatever the price is, I'm 448 00:28:08,400 --> 00:28:12,840 Speaker 1: going to go nuts. I'm serious. I mean, I need 449 00:28:12,880 --> 00:28:15,239 Speaker 1: to have my RSN so she can maybe give up 450 00:28:15,280 --> 00:28:17,679 Speaker 1: one of those six buck lot taste. That's all I'm saying. 451 00:28:18,520 --> 00:28:20,920 Speaker 1: It takes one a month. There you go. Chris Ripley, 452 00:28:21,000 --> 00:28:23,320 Speaker 1: CEO of Sinclair, thank you very much for joining us. Chris, 453 00:28:23,359 --> 00:28:26,600 Speaker 1: Thank you, sir, Thanks Chris, thank you guys. Time now 454 00:28:26,640 --> 00:28:30,919 Speaker 1: for takeaways and the big thing that I take away 455 00:28:31,160 --> 00:28:35,200 Speaker 1: from this interview and talking to Christopher. As a business, 456 00:28:35,920 --> 00:28:39,520 Speaker 1: you are always growing and as I mentioned it earlier, 457 00:28:40,040 --> 00:28:42,800 Speaker 1: bo the Box, you can't put yourself in a box. 458 00:28:43,040 --> 00:28:46,080 Speaker 1: You have to move with the business. That's there are 459 00:28:46,080 --> 00:28:50,080 Speaker 1: a lot of companies that did not grow with the 460 00:28:50,120 --> 00:28:55,120 Speaker 1: times and and move along, and now they're bankrupt. My 461 00:28:55,240 --> 00:28:58,360 Speaker 1: takeaway was that he views ten point six billion dollars 462 00:28:58,920 --> 00:29:02,720 Speaker 1: as cheap. He got a good deal because this was 463 00:29:02,800 --> 00:29:07,640 Speaker 1: a force sale that the FEDS made. Disney dumped these 464 00:29:07,760 --> 00:29:11,120 Speaker 1: rs n s because they already have ESPN, so it 465 00:29:11,200 --> 00:29:15,160 Speaker 1: was a force sale and they had a really good number, 466 00:29:15,200 --> 00:29:17,480 Speaker 1: which is allowing Sinclair to now look out there. We 467 00:29:17,520 --> 00:29:19,720 Speaker 1: heard him say it. They're looking for more. You know, 468 00:29:19,960 --> 00:29:22,440 Speaker 1: they can compete with people with more money, and this 469 00:29:22,520 --> 00:29:25,880 Speaker 1: is how they've chosen to do it, live news, live sports. 470 00:29:25,920 --> 00:29:27,800 Speaker 1: So there's gonna be more going to Sinclair in the future. 471 00:29:27,840 --> 00:29:30,960 Speaker 1: I was gonna say that already a dominant player and 472 00:29:31,040 --> 00:29:34,080 Speaker 1: need local news side of things, they are now with 473 00:29:34,120 --> 00:29:37,160 Speaker 1: this purchase, a dominant player in the local sports side 474 00:29:37,160 --> 00:29:40,240 Speaker 1: of things. Twenty two RSN s if you count es Network. 475 00:29:40,560 --> 00:29:42,560 Speaker 1: They're gonna have another one in the works now with 476 00:29:42,600 --> 00:29:44,560 Speaker 1: the Chicago Cubs. And as he said, you know, they're 477 00:29:44,600 --> 00:29:47,560 Speaker 1: looking at others right now. You know, he's currently exploring 478 00:29:47,600 --> 00:29:50,400 Speaker 1: the possibility of buying a few more. So you know, 479 00:29:50,440 --> 00:29:52,880 Speaker 1: Sinclair could be even more dominant than it is right 480 00:29:52,920 --> 00:29:55,840 Speaker 1: now with this purchase, could become an even bigger brand 481 00:29:55,880 --> 00:30:00,040 Speaker 1: in the local sports side of things. Don't want it 482 00:30:00,440 --> 00:30:02,280 Speaker 1: feels better to be a number one than number five. 483 00:30:02,280 --> 00:30:03,920 Speaker 1: I'll wear a number because of Mike. We have a 484 00:30:04,000 --> 00:30:05,800 Speaker 1: chance to go for three in a row. Good numbers 485 00:30:05,800 --> 00:30:07,959 Speaker 1: are a good time. When I's first started wearing the number, 486 00:30:08,040 --> 00:30:11,480 Speaker 1: I would just happy and bloomberg business of sports. The 487 00:30:11,680 --> 00:30:15,080 Speaker 1: number of the week. Time now for the number of 488 00:30:15,160 --> 00:30:21,440 Speaker 1: the week, and it is five point one million. Evan, 489 00:30:21,960 --> 00:30:25,520 Speaker 1: that's cash, I should say. I'm gonna say that five 490 00:30:25,600 --> 00:30:31,080 Speaker 1: point one million dollars in cash. So it's not nescar related. 491 00:30:31,680 --> 00:30:35,960 Speaker 1: I don't know, uh ev oh, I have no idea 492 00:30:36,080 --> 00:30:41,760 Speaker 1: the prize money for something. Former picture, Major League picture, 493 00:30:42,560 --> 00:30:46,520 Speaker 1: Bobby Jinks remember him, No, it has to be with 494 00:30:46,560 --> 00:30:48,959 Speaker 1: the Red Sox. And well, what happened is he has 495 00:30:48,960 --> 00:30:51,680 Speaker 1: agreed to accept the five point one million dollars settlement 496 00:30:52,040 --> 00:30:55,760 Speaker 1: from Massachusetts General Hospital and a doctor he says caused 497 00:30:55,800 --> 00:31:00,480 Speaker 1: his career ending spine injury. According to The Globe, Jenks 498 00:31:00,560 --> 00:31:03,000 Speaker 1: reached and out of court settlement with the Boston hospital 499 00:31:03,040 --> 00:31:06,680 Speaker 1: and the doctor the day before his medical malpractice suit 500 00:31:06,760 --> 00:31:09,840 Speaker 1: was scheduled to start. According to Jinks, his surgery was 501 00:31:09,920 --> 00:31:12,720 Speaker 1: botched while the doctor was overseeing another operation at the 502 00:31:12,760 --> 00:31:16,560 Speaker 1: same time. Hence, here's a check for five point one 503 00:31:16,640 --> 00:31:20,480 Speaker 1: million dollars, or about what a third grade second basement 504 00:31:20,520 --> 00:31:27,680 Speaker 1: would make these days, just saying, hey, let's call it today. 505 00:31:28,240 --> 00:31:30,800 Speaker 1: You've been listening to the Bloomberg Business of Sports. We're 506 00:31:30,800 --> 00:31:33,440 Speaker 1: here each and every week for you at the same time, 507 00:31:33,600 --> 00:31:36,760 Speaker 1: plus online as a podcast. You can catch that Monday's, 508 00:31:36,760 --> 00:31:39,560 Speaker 1: Wednesdays and Thursdays. I'm Michael Barr on Twitter at Big 509 00:31:39,600 --> 00:31:43,280 Speaker 1: Bar Sports. I'm Evan Novie, Williams at nov Underscore, Williams 510 00:31:43,520 --> 00:31:46,360 Speaker 1: Up Scott Sashnik. You can follow me on Twitter at Sashnik. 511 00:31:46,560 --> 00:31:48,640 Speaker 1: Thanks very much for joining us. Please tune in next 512 00:31:48,640 --> 00:31:50,840 Speaker 1: week when we speak with the biggest and brightest in 513 00:31:50,840 --> 00:31:53,680 Speaker 1: the sports business industry. You're listening to Bloomberg Business of 514 00:31:53,760 --> 00:31:55,880 Speaker 1: Sports from Bloomberg Radio around the world.