Pink's Bottom Line on Media, Money and Sports
New distribution for a tv news network, JPMorgan Chase CEO Jamie Dimon's annual shareholder letter and the NBA's Western Conference
In today’s newsletter, I discuss new distribution for a television news network, JPMorgan Chase CEO Jamie Dimon's annual shareholder letter and the NBA's Western Conference.
MEDIA: New Distribution for Newsy
Newsy, a news network that’s currently available on over-the-top (OTT) services like Roku and Apple TV, will be available free, over-the-air (OTA) as of October 1, according to a press release today from Newsy parent Scripps.
That means Newsy soon will be available to viewers free via local channels that Scripps owns. (Note: A local station can offer more than one channel digitally on the same signal.)
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That distribution both OTT and OTA indicates that Newsy is looking to appeal to cord cutters — those consumers who shun traditional cable or satellite subscriptions.
As the number of traditional, linear cable or satellite television subscribers has been declining, cord cutters are becoming a key focus for many networks — and the media companies that own those networks.
MONEY: Dimon’s Letter to Shareholders
JPMorgan Chase CEO Jamie Dimon sent his annual letter to shareholders today, where, in addition to discussing the performance of his company, Dimon also comments on broader topics, including the US economy.
Dimon wrote, “I have little doubt that with excess savings, new stimulus savings, huge deficit spending, more QE, a new potential infrastructure bill, a successful vaccine and euphoria around the end of the pandemic, the U.S. economy will likely boom.”
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Notably, in this letter, Dimon also wrote, “This boom could easily run into 2023 because all the spending could extend well into 2023.”
Those are encouraging words as the US economy and US labor markets still have a long way to go to recover from the impact of the coronavirus pandemic.
In any case, it’s a fascinating — and long — letter to shareholders, but definitely worth reading if you have the time.
SPORTS: NBA’s Western Conference
The Western Conference includes the defending champion Los Angeles Lakers and it’s loaded from top to bottom — it’s a much more competitive conference than the Eastern Conference.
That’s why the emergence of Utah and Phoenix as the two teams with the best records in the West is even more impressive and unlikely.
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Utah boasts a deep roster, led by superstar Donovan Mitchell while Phoenix features Devin Booker, a tremendous shooting guard, and Chris Paul, a future hall-of-famer and outstanding team leader.
According to FanDuel Sportsbook, Utah at +950 is the fourth favorite to win the NBA title behind the Brooklyn Nets, the Lakers and the Los Angeles Clippers.
Phoenix is a stunning +3600 to win it all, according to FanDuel Sportsbook, despite having the best record in the league.
Phoenix will make some noise in the playoffs — thanks in large part to the leadership of Paul — and the Suns could even be emerging as the biggest threat to the Lakers in the Western Conference.
Jeremy Pink is currently COO of Geniecast, a leading virtual content and experience company. He is the former CEO of private-equity backed Broadcast Sports International where he helped lead the company to a successful sale and exit during his tenure there. He is also a former CNBC television executive in New York, London and Singapore.
The information contained in this communication is strictly for general informational and entertainment purposes and is not meant to be construed as financial, investment, tax, or legal advice. This communication is not a solicitation to buy or sell any securities. I am not a financial advisor or offering professional advice of any kind. Users should not act upon the content or information found within this communication without first seeking professional advice appropriate for their individual situation. Decisions based on information contained in this communication are the sole responsibility of the user, and use of this communication and its contents constitutes an explicit understanding and acceptance of the foregoing disclaimers.
(Newsletter Editor: Karina Pink)