Is is possible to briefly summarize where media rights may be headed?
Arecso: It’s a big issue. We’re on the clock, to some extent with TV and with media. It’s not just TV anymore. We’ll look at everything.
There’s no question that the online companies are starting to do more than just dip their toes into live sports and live video. They’ll be a factor. TV, of course, is still going to be extremely important. You’re not replacing TV with online, at least not yet.
We will look at all media. We don’t view this as TV anymore, per se. On the other hand, we’re really happy with our partnership with ESPN. Despite all the talk about cord-cutting and all the things you see, ESPN is still the most powerful sports entity, the most powerful sports network. ESPN also has a very significant streaming operation.
They key for us is going to be getting much more revenue than we currently have. That’s why this is going to be a really seminal moment for us. We are still about roughly a year-and-a-half, or so, away from a negotiating period. We may talk to our partners next spring. That’s typically when you at least have some informal discussions. It wouldn’t be negotiation, per se, but there wouldn’t be many years left on the deal.
We run through 2019-20 and at the beginning of 2019 we have a negotiating period. It’s not that far away. We’ve been talking to people and trying to determine our value. We know it’s extremely heightened compared to five years ago.