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Speaker 1: Welcome to the Bloomberg Surveillance Podcast. I'm Tom Keene with

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Speaker 1: David Gura. Daily we bring you insight from the best

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Speaker 1: of economics, finance, investment, and international relations. Find Bloomberg Surveillance

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Speaker 1: on Apple Podcasts, SoundCloud, Bloomberg dot Com, and of course,

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Speaker 1: on the Bloomberg Lisa Braamo, it's with us UH this morning,

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Speaker 1: which is a good thing on economics, finance, investment. We

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Speaker 1: did a touch of politics with Professor Bowder. He has

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Speaker 1: with City Group. He's also unlaunched a forty seven page

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Speaker 1: view of next year. I'm kidding, Professor, but it's great

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Speaker 1: to see the team at City Group dive into a

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Speaker 1: global view for two thousand eighteen. Let's look back. What'd

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Speaker 1: you get wrong in two thousand seventeen? You wrote something

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Speaker 1: twelve months ago about global two thousand seventeen. Where were

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Speaker 1: you off the mark? I can't remember. I remember Mr

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Speaker 1: Corbeck basically too pessimistic about Chinese growth. He came out

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Speaker 1: once again, but once this isn't what's the stop right there?

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Speaker 1: Once again the hard landing gloom is off. Should we

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Speaker 1: even be discussing a hard landing in China? Or is

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Speaker 1: that just Western idiocy? About an economy we don't understand

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Speaker 1: and people we don't understand that. I don't think it's

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Speaker 1: quite that unique. I think China now it's just a

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Speaker 1: messy market economy, like most go with significant economies at

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Speaker 1: placed by the same rules. It just happens that the

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Speaker 1: authorities have kept credit growth and fiscal stimulus going for

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Speaker 1: much greater degree that I considered possible, and that will

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Speaker 1: likely change a bit this year, but not materious. I

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Speaker 1: don't see hard landing even now, but slow down in growth.

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Speaker 1: I want to pick up on keeping the credits bigots open.

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Speaker 1: There are dangerous consequences to this. We have learned this

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Speaker 1: in the past. Does this open China up to an

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Speaker 1: even harder landing, or perhaps people are overly sanguine about

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Speaker 1: that risk. It's possible if the kind of build up

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Speaker 1: of debt we've seen in China and the likely, but

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Speaker 1: that we don't the direct data on that build up

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Speaker 1: of bad assets, both on the books of the banks

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Speaker 1: and just off balance sheet, could create a financial crisis,

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Speaker 1: which would be bigger the longer this goes on. At

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Speaker 1: the same time, you know they have the tools to

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Speaker 1: de leverage and restructure without creating a financial crisis. To

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Speaker 1: do it without creating at least a slowdown is I

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Speaker 1: think impossible, But it could be more quite controlled slowdown,

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Speaker 1: say going down to something close to five next year

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Speaker 1: and then featuring out UH into the new normal of

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Speaker 1: say for plus for the rest of the decade in

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Speaker 1: the next That would be soft landing for China, which

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Speaker 1: is possible. But as um mr Zoo, the central bankhead said,

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Speaker 1: you know, a Minsky moment could happen UH, and the

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Speaker 1: authorities better be ready to act decisively if systemically important

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Speaker 1: institutions turn out to be financi at risk. All right,

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Speaker 1: so let's move on from China. Let's not talk about Europe.

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Speaker 1: A lot of people think Europe isn't a better position

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Speaker 1: than the US. Will accelerate in the stage of the

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Speaker 1: credit cycle that's about a year and a half behind

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Speaker 1: the US. Do you agree? How fast can we see

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Speaker 1: growth in the arizone Eurozone would definitely tell a different

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Speaker 1: story about the UK. But yes, the Eurozone is in

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Speaker 1: um tychnical recovery that is really quite robust. Now. Growth

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Speaker 1: is picking up this year even above but ME expected

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Speaker 1: with the two point range now and I expect something

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Speaker 1: similar for the next couple of years, because there still

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Speaker 1: remains slack on average in the Eurozone, even though the

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Speaker 1: Germanys of this world are getting close to full employment.

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Speaker 1: So yes, this is good. Um, the banking sector remains

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Speaker 1: a dodgy, but I think there's enough credit growth, including

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Speaker 1: growing non bank financially to mediation, to keep the show

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Speaker 1: in the road for not a couple of years, Professor,

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Speaker 1: thank you so much. Villain Bouder is the chief economist

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Speaker 1: City Group. We greatly appreciate his continued support of Bloomberg

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Speaker 1: surveillance with the perspective a city group, and of course

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Speaker 1: the academic heritage that he brings some lc and schools.

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Speaker 1: East of here is new Haven, east of here, Yales.

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Speaker 1: Kind I always get confused about that. I always feel

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Speaker 1: like it's north but it's not. Really. They have a

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Speaker 1: football game this week they do with Harvard. You parking

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Speaker 1: is like cover. I have to make a correction. Power

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Speaker 1: spent three years in New Jersey at Princeton. Excuse me,

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Speaker 1: you know that's a surveillance correction. And actually, who havever

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Speaker 1: wins half of the Yale I'm okay because John Haffit

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Speaker 1: was a graduate of my college in Cambridge. About very good.

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Speaker 1: I like that powder at the fifty yard line. You

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Speaker 1: can be at the fifty yard line as well. Twelve fifteen.

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Speaker 1: If you're in Boston, Bloomberg one or six one FM

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Speaker 1: and our other good affiliates, listen on Mount Kitadden Up

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Speaker 1: by Chimney Pond, Harvard Yale twelve fifteen Saturday, one of

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Speaker 1: the most important sporting events of the year worldwide. We

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Speaker 1: do that in Boston. One of six one FM brandis

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Speaker 1: is looking at me, like, where do you from New England?

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Speaker 1: Seriously have a narragance logger Beer, Lisa, Come on, this

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Speaker 1: is Bloomberg. Let's go purple. Which is something you can do.

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Speaker 1: I guess you can do it on a national basis,

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Speaker 1: you can do it on a state basis, or maybe

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Speaker 1: you can move to the sixteenth Congressional District of Ohio

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Speaker 1: where Mr Trump took fifty percent of the vote election

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Speaker 1: day in two thousand sixteen. Is Ron Johnson of Wisconsin

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Speaker 1: is an entrepreneur. So is the distinguished Congressman from the

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Speaker 1: sixteenth district. That would be Mr Nassy running for governor,

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Speaker 1: but far more importantly, sliding me this weekend into a

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Speaker 1: show stopping old school glam Deluxe Harley Davidson Soft Tail Deluxe.

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Speaker 1: How is the Harley Davidson business right now? You're in

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Speaker 1: a bunch of dealerships, Congressman, I mean it is the

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Speaker 1: American economic indicator. Are Harley's moving out the door? Well, Tom,

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Speaker 1: thank you for having me this morning. But Harley has

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Speaker 1: continue to move not as asks as they used to

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Speaker 1: because discretionary income is not as available as it was

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Speaker 1: prior to two thousand and seven. That's really that's really

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Speaker 1: why we have to get the economy moving. We've got

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Speaker 1: to get the economy moving with the text uh cut program.

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Speaker 1: We know all the story about corporations in that sell

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Speaker 1: this this morning, Mayor of Wadsworth, Ohio to the people

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Speaker 1: of Wadsworth, Ohio. How is the middle class going to

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Speaker 1: be benefited? How many people in your district will have

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Speaker 1: their taxes go up? Well, it's interesting, and I tell

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Speaker 1: everybody this that, look, there's a lot of good things

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Speaker 1: from middle class Americans. We are doubling the standard deduction

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Speaker 1: from twelve thousand and four thousand dollars. We are reducing

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Speaker 1: the court the individual tax rates. So in the end,

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Speaker 1: an average family of four with two children that pay

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Speaker 1: into a four one K which we did keep in

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Speaker 1: place when they came about well end up with about Yeah,

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Speaker 1: I'm a big believer in the four word K two.

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Speaker 1: I'm I was a big support of that. But we'll

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Speaker 1: end up with about more in their pockets. So this

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Speaker 1: is what it's about, letting the Americans have the American

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Speaker 1: middle income from can have more money to do what

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Speaker 1: they want to do with it. I don't know if

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Speaker 1: Oberlin College is in your district. I believe it's not.

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Speaker 1: But why are you going after universities? Why are you know?

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Speaker 1: I get the idea Republicans are going after Democrats and

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Speaker 1: democrats states, but does it seem more vicious than it

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Speaker 1: used to be? Congressman Well, and again, I wouldn't say

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Speaker 1: anybody's going after universities. What we're doing the university endowment,

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Speaker 1: which I think is what we're talking about. Uh. Those

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Speaker 1: endowments were made to reduce educational costs, and now some

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Speaker 1: of these endowments are being used for a whole bunch

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Speaker 1: of other things that are being used for. UH. And

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Speaker 1: we've got reports of suites and superboxes and stadiums and

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Speaker 1: paying off coaches, and all we're saying is use your endowment.

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Speaker 1: I mean the way the task cod has written, use

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Speaker 1: your endowmin whatever income you don't use, you're going to

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Speaker 1: be taxed. So let's let's get the money back into

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Speaker 1: where it should be in lowering cost of education and

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Speaker 1: getting more individuals able to afford college cocreson RNASI. This

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Speaker 1: bill was drafted in secrecy. A lot of people complained

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Speaker 1: about that. You had a hand in this. Why why

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Speaker 1: not have it out and why not hash it out

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Speaker 1: and why rush it if it really is an attempt

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Speaker 1: to make tax tax policy better. Well, I'm not sure

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Speaker 1: it was done in secret. Remember I've been on the

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Speaker 1: Ways Means committing now since Chairman Camp was there. We

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Speaker 1: had so many hearings. We have ripped the TASH code apart,

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Speaker 1: open it up, showed it, showed the problem, showed the issues,

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Speaker 1: and in the end rolled out pieces. So the framework

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Speaker 1: was UH was actually brought out a month ago. The

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Speaker 1: framework is still in there. The pieces of the framework

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Speaker 1: were so important, dropping corporate tax rates, dropping rates for

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Speaker 1: middle income UH. These where all the things that were

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Speaker 1: in the basic framework. To get to the framework, to

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Speaker 1: get the car to run, there were some pieces that

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Speaker 1: had to be added, and that's where we're at. But now, um,

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Speaker 1: it's you know, it's pretty much out there the sentence

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Speaker 1: doing their thing, and in the end, we're going to

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Speaker 1: have a conference and move this bill forward. Congressman, a

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Speaker 1: lot of people say that the House bill almost doesn't

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Speaker 1: matter at this point because it really is the Senate

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Speaker 1: that will determine the final outcome of this bill, and

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Speaker 1: the Senate bill looks considerably different. Is there anything in

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Speaker 1: the Senate bill that concerns you that you want out

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Speaker 1: in order to sign off on it. Well, one thing

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Speaker 1: I would tell you is we played that game already.

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Speaker 1: It didn't work out very well with the Senate and

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Speaker 1: the uh it came to healthcare. Um, we spend a

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Speaker 1: lot of time making sure that this bill is a

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Speaker 1: good bill. Now there is conference where we'll have to

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Speaker 1: bring some things together. But in the end, I think

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Speaker 1: we'll have a better bill. We have more dollars. I mean,

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Speaker 1: look at the Senate and get the individual mandate UM

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Speaker 1: taken care of and reveild that adds more dollars that

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Speaker 1: will allow more middle income tax relief. So, uh, the

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Speaker 1: reason we didn't put it on our side is because

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Speaker 1: we were afraid and then it couldn't do it. I'm

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Speaker 1: glad to see they're trying to do it if you're

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Speaker 1: just joining us from the sixteenth District of Ohio. This

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Speaker 1: is south of Cleveland. Jim or and a c out

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Speaker 1: of Indiana, University of Pennsylvania within a real entrepreneurial streak

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Speaker 1: as he entered UH Congress running for governor in Ohio

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Speaker 1: as well in the derby UH next year, Congressman, I

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Speaker 1: I look at your district and again I look at

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Speaker 1: the purpleness of it is, well, how are you going

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Speaker 1: to sell this puppy, whatever it ends up? How are

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Speaker 1: you going to sell it at the next rotary meeting

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Speaker 1: in Wadsworth. Well, the one thing I do is I've

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Speaker 1: I've always been very open. I've you know, I I've

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Speaker 1: made some taking some positions in Washington and people said

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Speaker 1: would not ever get me reelected totally. This is really important, folks.

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Speaker 1: This is a congressman who goes across both aisles, and

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Speaker 1: I'm like, how quaint I mean, do you feel all

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Speaker 1: alone in Washington when you do that? Congressman? Well, look,

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Speaker 1: it's it's definitely something that's not done enough. But I

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Speaker 1: still have a bipartisan breakfast. We have it every week

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Speaker 1: first morning back in we talked about ways we can

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Speaker 1: work together. When it comes to my district, I do

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Speaker 1: the exact same thing. I get out. I talked to people.

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Speaker 1: I remember that I talked about raising the gas tax

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Speaker 1: um through inflationary you know, with adjusting with the CPI,

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Speaker 1: and people said, you'll never get elected. The Republicans ended

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Speaker 1: up speaking to all the Conservatives and they all signed

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Speaker 1: off on it. And because people know that you're thinking

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Speaker 1: through the process and I'm willing to listen and work

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Speaker 1: with them. Congressman Renaissy Renascy, when you speak with your constituents,

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Speaker 1: do you feel like President Trump is getting less popular

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Speaker 1: and they're giving less of a mandate to you and

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Speaker 1: other members of the GOP at this point. No, it's

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Speaker 1: a hundred percent different. When I speak to my consluence,

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Speaker 1: the Republicans are mad that we're not supporting President Trump,

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Speaker 1: which I always tell them there's no one to support

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Speaker 1: some more than me. The Democrats on the other side, Yes,

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Speaker 1: there the opposite. It's the problem with our country. Um,

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Speaker 1: you know, the Democrats just automat have come out and

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Speaker 1: say no, we look. That's the other thing I've learned

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Speaker 1: as you As you've mentioned, I was an entrepreneur, business

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Speaker 1: guy for three decades. I go to Washington because my

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Speaker 1: Chevy dealership is taken away from me, and I'm madder

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Speaker 1: than hell, and that's the reason I go there. But

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Speaker 1: now what I see is when you're in the minority,

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Speaker 1: the number one thing you want to do is get

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Speaker 1: to the majority. And when you're in the majority, the

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Speaker 1: number one thing you want to do is stay in

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Speaker 1: the Does this text puts the wall Jimmy Nacy? Does

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Speaker 1: this tax bill risk the Republicans majority in the House.

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Speaker 1: I don't believe. So I think what I think. If

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Speaker 1: we do not pass a tax bill, uh, there would

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Speaker 1: be a risk, if we're not able to get something done,

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Speaker 1: there would be a risk. The American people want a

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Speaker 1: tax bill. They want these task cuts. If there's one

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Speaker 1: thing for certain, Republicans and Democrats are saying the exact

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Speaker 1: same thing. We need tass cuts. Now some want them

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Speaker 1: different than others. I mean the Democrats say, tax are

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Speaker 1: rich more and give me a cut. Well, in the end,

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Speaker 1: we gotta make something simpler, fairer, and that will grow

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Speaker 1: the economy. Congresson one more question in conference, in the

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Speaker 1: heat of battle here in the coming days, buried in

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Speaker 1: page five forty two. Can you get in that amendment

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Speaker 1: you want to improve the Cleveland Browns. Well, I'll tell

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Speaker 1: you that Cleveland Browns will have to figure out a

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Speaker 1: way to improve themselves. But there's always hope, there's always hoping,

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Speaker 1: there's always next year, you know, spoken like a disciple

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Speaker 1: of Dan Rooney, Congressman, Thank you so much. He uh

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Speaker 1: is really quite a story. Again, we love talking to

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Speaker 1: these politicians in Washington who have a different path to

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Speaker 1: Washington and so much of what we see every day.

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Speaker 1: Mr Nassy is in the sixteenth district, the former mayor

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Speaker 1: John Tucker. I think being a mayor, a former mayor

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Speaker 1: makes for a different federal official. All politics is local.

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Speaker 1: You can get any more local than that. Yeah, well, Tom,

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Speaker 1: do you have a Harley? Do you write a motorcycle? No?

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Speaker 1: You know I haven't, and I need to be careful.

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Speaker 1: There were enough, No, there were enough accidents when I

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Speaker 1: was a kid where I never had it might be

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Speaker 1: my father said, if you come home with a motorcycle,

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Speaker 1: don't bother coming home. I was only eight when I

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Speaker 1: said that. You know, when you said that, I just

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Speaker 1: I know. I had the discussion with the eighteen year

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Speaker 1: old no way. Yeah, I've just seen too much. Do

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Speaker 1: you have to wear a helmet in New Jersey? Because

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Speaker 1: that's another thing some states helmet on a motorcycle going.

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Speaker 1: Mr Rena is good. He's he's involved as a minority

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Speaker 1: member of a number of Harley dealerships. I guess is

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Speaker 1: how to put it? That was great love talking to

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Speaker 1: him from the sixteenth District. Oh, good morning on sirius

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Speaker 1: xm FM in Ohio. This is Bloomberg. Lisa brand Winson,

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Speaker 1: Tom Keenan with us now someone who has has defined

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Speaker 1: media securities analysis. Richard Greenfield joins us. See us with

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Speaker 1: bt I G uh and for years watching content and

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Speaker 1: its distribution. Rich You're gonna write a memo for your

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Speaker 1: b t I G clients. It will be read worldwide instantly.

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Speaker 1: What is your beginning theme on the Frenzy over Fortress Murdoch? Look,

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Speaker 1: I think Tom, first all, thank you for having me.

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Speaker 1: The the media world is looking at pretty stiff headwinds.

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Speaker 1: You know, consumer behavior is changing. TV viewership is collapsing. Mean,

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Speaker 1: I think you know if you look at it's not

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Speaker 1: just the NFL ratings are down. Walking Dead ratings were

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Speaker 1: down last weekend, like TV ratings are collapsing. So you've

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Speaker 1: got that overlay on the whole sector as people move

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Speaker 1: away from linear TV subscribers to the bundle we've been

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Speaker 1: talking about on your show for years, but like this

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Speaker 1: whole you know, we have this hashtag good luck bundle.

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Speaker 1: I mean it's really happening. Like people are cutting the cord,

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Speaker 1: shaving the board, kids are never getting the cord and

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Speaker 1: graduate from college. I mean, all of this is happening.

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Speaker 1: And so I think it's causing media companies who felt

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Speaker 1: really safe and secure to rethink their future, especially when

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Speaker 1: you've got companies like Apple approaching a trillion dollars. Facebook's

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Speaker 1: doing ten billion of revenue growing here on year. Like,

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Speaker 1: I think that there is just they're looking at the

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Speaker 1: tech world and they're panicking when they're looking at their

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Speaker 1: core business buried in your securities. Note everybody knows that

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Speaker 1: it reads which Greenfield And we've got other wonderful people

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Speaker 1: Michael Nathanson and all the rest of them. Is you're

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Speaker 1: the king of what I call the type to analysis.

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Speaker 1: Not I want to buy Fox. I want to do this,

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Speaker 1: but I can't not buy Fox, or I can't let

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Speaker 1: them buy Fox. Who's the type to player here that

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Speaker 1: it has to get this transaction done so the other

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Speaker 1: guys don't get it. Well, look, I think if you

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Speaker 1: were sitting there, um, at Comcast and you saw that

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Speaker 1: A T and T, which has a big wireless platform

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Speaker 1: and satellite distribution in the trying to buy Time Warner,

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Speaker 1: You're looking at it going you know, what should we

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Speaker 1: be doing? Should we be scaling up? We've had a

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Speaker 1: really good experience at NBC. What do we do to

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Speaker 1: scale up? And it's not clear that, um, you know,

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Speaker 1: it's not clear that you can actually do enough to

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Speaker 1: get this deal done as is because of all the

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Speaker 1: government pressure. But if you were willing to split the

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Speaker 1: company into two pieces, so basically break Comcast and NBC

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Speaker 1: into two separate entities, they might be able to actually

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Speaker 1: get this deal done, steal it away from Disney. If

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Speaker 1: Disney is in fact really looking at it, And this

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Speaker 1: could be a huge opportunity for Comcast because not only

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Speaker 1: would it all NBC to buy Fox, but it might

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Speaker 1: free up Comcast to go after a Team Mobile or

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Speaker 1: do something much bigger and aggressive in the wireless space.

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Speaker 1: So this could be a really transformative At least I

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Speaker 1: know you want to get here. Did you just tell

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Speaker 1: me Rachel Maddow's gonna work with Sean Hannity in a room.

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Speaker 1: Let's see what happens. Hold on, I wish I could

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Speaker 1: see your face you We're getting this on the phone,

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Speaker 1: but I wish I could see Tom space right now.

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Speaker 1: The reality is Rupert is not abandoning Fox News and

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Speaker 1: the Fox Broadcast Network. I think Rupert would want to

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Speaker 1: run those assets, continue to keep them. Maybe it's a

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Speaker 1: private company, and you know, use all the cash proceeds

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Speaker 1: from this transaction. Take Fox private, meaning Fox News, Fox Broadcast,

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Speaker 1: take that private, maybe even combine it back with News Corp.

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Speaker 1: In those and the and the Wall Street Journal, keep

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Speaker 1: all of that for himself. I think we're talking about

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Speaker 1: everything but the Fox Broadcast network and stations and Fox News.

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Speaker 1: He wants. He wants that political cloud, no doubt. You know,

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Speaker 1: I'm looking like running Fox News. He's running at day

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Speaker 1: to day. So I'm looking at your Twitter, your feed, Ridge,

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Speaker 1: and at the top, you have a pinned tweet BTGS

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Speaker 1: Top seventeen media predictions and events to watch for in

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Speaker 1: two thousand and seventeen. That's pinned from January three, So

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Speaker 1: you clearly are probably coming up with your media predictions

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Speaker 1: and events to watch for. Can you look into your

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Speaker 1: crystal ball and give us a preview look? I think

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Speaker 1: it's it's always hard to look ahead. I mean, you know,

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Speaker 1: the the issue is is, I don't think we've ever

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Speaker 1: seen a time in media where the deck chairs look

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Speaker 1: so fluid. Everyone is, you know, everyone is jockeying for position,

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Speaker 1: and I think it's being driven by this basic idea

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Speaker 1: of the sector's mature, it's entering secular decline. You either

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Speaker 1: sell the way Jeff Buchas is trying and the way

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Speaker 1: Ken Low of Scripts, so Time Warner and Scripts are

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Speaker 1: both trying to sell largely for cash. You either diversify,

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Speaker 1: you know, maybe try to get into the video game

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Speaker 1: space or some other sector, as we suggested companies like

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Speaker 1: Disney should, or you scale up in your kind of troubled,

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Speaker 1: secularly challenged business just for cost savings. That's what Discovery

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Speaker 1: and Scripts are trying to do, right I mean, that's

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Speaker 1: what Discovery is trying to scale up because they couldn't

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Speaker 1: sell and they couldn't diversify. I don't think you have

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Speaker 1: other choices than those three. You've got to do something.

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Speaker 1: I don't think sitting still given the industry fundamentals, you

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Speaker 1: can't just sit still anymore. You've got to do something,

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Speaker 1: Rich Greenfield, whether it would be t I G. Making

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Speaker 1: us wiser on the media wars again as many people

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Speaker 1: look at Fox properties, Lisa with Rich Greenfield, Lisa, please,

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Speaker 1: So I'm just wondering at this point, given you said

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Speaker 1: T Mobile, I thought that was really interesting that Comcast

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Speaker 1: could free Comcast up to buy T Mobile. Do you

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Speaker 1: think that that's a likely combo? I know T Mobile

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Speaker 1: is kind of released after the Sprint merger kind of collapse,

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Speaker 1: but less Comcast has been noodling around how to get

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Speaker 1: bigger and wireless. They've you know, they launched an m

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Speaker 1: vn O with Verizon. You know, it's hard to believe

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Speaker 1: the mbn O is the end state to where they

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Speaker 1: go and wireless wire This is just becoming more and

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Speaker 1: more important to you know, to consumers everyday lives. If

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Speaker 1: you believe the video bundle is falling apart, it leaves

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Speaker 1: Comcast with obviously phone is going away. So the triple

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Speaker 1: play that you know we've all grown up with looking

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Speaker 1: at the media space, you know, the video broadband and

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Speaker 1: and phone and triple play. As it becomes more of

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Speaker 1: a broadband single play, you start to think about, how

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Speaker 1: do you create a new bundle? Wired and wireless sound

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Speaker 1: like they make a lot more sense every day, and

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Speaker 1: so you go, if you were sitting at Comcast, why

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Speaker 1: wouldn't you want to figure out how you build that

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Speaker 1: wired and wireless bundle of the future. You know it

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Speaker 1: might be really hard to imagine in the current administration

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Speaker 1: further vertical integration by getting into wireless. But again, if

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Speaker 1: you separate out NBC, maybe you'd be okay with Comcast

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Speaker 1: doing something big and bold and wireless rich. You've always

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Speaker 1: been good at the strategic seventy footmall market. Let me

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Speaker 1: go there. And our final question to you today, we

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Speaker 1: all know the fossils, including me watching cable TV are

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Speaker 1: just that ancient. The kids growing up, the thirty the

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Speaker 1: young girls like Lisa bram Woods twenty eight years old,

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Speaker 1: those women growing up, are they it's still carded? Yes?

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Speaker 1: Are they gonna become like us when they're old or

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Speaker 1: do you just say no, They're not gonna end up

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Speaker 1: watching fourteen hours of Fox or MSNBC. I think they're

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Speaker 1: gonna watch more content than any group of people have

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Speaker 1: ever watched. I think the question is I don't think

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Speaker 1: they're gonna watch what we call linear TV. They're gonna

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Speaker 1: watch content, and maybe it's YouTube, maybe it's not Flix,

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Speaker 1: maybe it's Amazon. Heck, Apple doing a show with you know,

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Speaker 1: a whole range of starr. You know, they're doing a

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Speaker 1: Steven Spielberg show, they're doing a reason whether they're doing

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Speaker 1: like Apple spending millions of dollars in episode, like you're

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Speaker 1: gonna watch content on a whole array of plot. Facebook

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Speaker 1: is getting into content. I just don't think you're going

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Speaker 1: to tune in at eight o'clock and watch NBC. Okay, well,

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Speaker 1: at eight o'clock Sunday night football l from New Jersey

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Speaker 1: just emails in and says, who's gonna have NFL rights?

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Speaker 1: Does Tim Cook become the football you know? Dinos? Is

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Speaker 1: he Jerry Jones Worth Nightmare look in in? Rupert Murdoch

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Speaker 1: turned the world on end when he outbid the established

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Speaker 1: players to get into the um into the NFL business

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Speaker 1: for Fox and basically established the Fox Network. I don't

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Speaker 1: think it's inconceivable when you think about Amazon, who's going

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Speaker 1: to have more subscribers than ESPN to Amazon Prime could

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Speaker 1: they bid on Monday Night Football? Could Tim Cook bit

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Speaker 1: on Monday Night Football or on you know, Sunday ticket.

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Speaker 1: I mean, I think that there is a lot of

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Speaker 1: potential for the tech platforms could be very bold bidders.

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Speaker 1: I mean, just yesterday Amazon took down the US Open

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Speaker 1: rights for tennis for the UK, took it away from

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Speaker 1: Eurosport and Sky Sports. Like there's there's increasing signs that

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Speaker 1: the tech platforms want to take the kind of the

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Speaker 1: last bastion of linear TV, which is sports, away from it.

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Speaker 1: Rich thank you so much for being with us, Mr Greenfield,

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Speaker 1: blowing up a schedule to join us here in this

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Speaker 1: nine o'clock our Mr Greenfield is with bt I G again.

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Speaker 1: We protect the copyright of all of our guests. You

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Speaker 1: can get his research only from Walter Pisk and Rich

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Speaker 1: Greenfield over at BTE. Lisa, was this fun? It was

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Speaker 1: so much fun. You even taught me how to tie

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Speaker 1: a bow tie. Thank you. Yes, we're working on that.

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Speaker 1: I wore one today. That was you know, the kind

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Speaker 1: of tie how I suggest it's a little too tight.

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Speaker 1: Thank you. We hope you have a good weekend. We're

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Speaker 1: produced by Richard Truman, Ken Felio our global technical director.

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Speaker 1: This is Bloomberg. Thanks for listening to the Bloomberg Surveillance podcast.

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Speaker 1: Subscribe and listen to interviews on Apple Podcasts, SoundCloud, or

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Speaker 1: whichever podcast platform you prefer. I'm on Twitter at Tom Keene,

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Speaker 1: David Gura is at David Gura. Before the podcast, you

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Speaker 1: can always catch us worldwide. I'm Bloomberg Radio