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BFD Expert Voices - Media Deals

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Media consolidation and new successes in entertainment dominated the first day of the Paley International Council Summit.

Why it matters: The media deals business could be in for a seismic shock as President-elect Trump prepares to reenter the White House.

Liberty Media chair John Malone on media consolidation

Add Malone to the growing chorus of media executives pounding the table over the media industry's need to consolidate.

"The industry is kind of plagued with excess defensive capital spend," Malone said during the kickoff session. "Consolidation is really the right direction. You don't damage competition. What you try and reduce is excess competition that leads to wasteful capital spending."

Asked if he could even see an eventual tie-up between Comcast and Charter, the two largest cable providers, Malone quipped: "Why not?"

MLS commissioner Don Garber on the lengthy Apple deal

Major League Soccer's 10-year deal with Apple is being held up by some as a cautionary tale that will stymie the growing league's trajectory.

Garber argues part of their rationale for going all-in on streaming is to build a direct relationship with their fans when consumers are expected to pare back the amount of streaming services they're willing to pay for.

"It's costing them way too much money. At some point, consolidation is going to happen. There is going to be a moment of truth where the consumer is going to have to decide. We have to, as a league, be leaning into the fact that we want to build that relationship with the consumer, give them value, justify paying $10 a month or $100 a year."

Microsoft Gaming CEO Phil Spencer and "Fallout" director Jonathan Nolan on the evolution of video game adaptations

"Fallout," a TV show adaptation of the Microsoft-owned game, attracted 16 Emmy nominations (and one win), a 94% score on Rotten Tomatoes and more than 100 million viewers, proving that video game adaptations can work. Of course, "The Last Of Us" also debunked that narrative, Nolan said.

"We didn't have to prove that it could be done," he said. "It also helped us get out in front of a press cycle of the only questions we would get, 'Is it possible to make a good video game adaptation?'"

"I always fight the urge to try to exploit the franchises we have," Spencer said. "Gaming is now a big enough business. We don't have to do a television show or a movie for any of the individual properties, so it better be something that we do with someone we trust, with someone we think will raise the bar for what the franchise stands for."

New York Liberty CEO Keia Clarke and Washington Spirit CEO Kim Stone on the power of rivalries and mascots

Moderator Crystal McCrary noted how the rivalry of Caitlin Clark and Angel Reese in college likely drew more attention to the WNBA, to which the CEO of women's soccer team Washington Spirit said they are also leaning into rivalries.

"We're trying to create the rivalry with New York. You need these big, meaningful games. You need these great competitors," Stone said.

Clarke celebrated the fandom around Ellie the Elephant, the Liberty's mascot.

"We knew entertaining the fans is the reason you have a mascot. What we didn't bargain for was that Ellie would identify with so many different people. Ellie is a hero to kids and toddlers. Ellie is beloved by the gay community [and] married, straight couples," Clarke said.

Media M&A chatter and other Paley highlights

John Malone, Don Garber, Phil Spencer and other executives spoke.

Phil Spencer, Jonathan Nolan and Cynthia Littleton sitting in chairs on a stage at the Paley Center for Media

Phil Spencer, Jonathan Nolan and Cynthia Littleton. Photo: Kerry Flynn/Axios

Media deals

Media consolidation and new successes in entertainment dominated the first day of the Paley International Council Summit.Why it matters: The media deals business could be in for a <a class="gtmContentClick" data-vars-link-text="seismic shock" data-vars-click-url="https://www.axios.com/pro/media-deals/2024/11/07/media-merger-floodgates-open-under-trump" data-vars-content-id="e1da587e-0008-4577-8784-570eb3b2e864" data-vars-headline="Media M&amp;A chatter and other Paley highlights" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/pro/media-deals/2024/11/07/media-merger-floodgates-open-under-trump" target="_self">seismic shock</a> as President-elect Trump prepares to reenter the White House.

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Media M&A chatter and other Paley highlights

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