Former BET CEO on Paramount deal, media landscape, BET’s future

00:00 Speaker A
All right, to join me at Cannes Lions, former Bet CEO and I Debra Lee, the author of Debra Lee.
00:09 Debra Lee
Certainly. Thank you.
00:11 Speaker A
So, the bet is still under the most paramount umbrella. So, Paramount still wants to close this agreement with Skydance. How has no one accelerated and still did not open a real check book for an entity such as betting and historical asset, which still puts a good content?
00:31 Debra Lee
Right.
00:32 Debra Lee
Yeah, I don’t understand. Um, you know, I wasn’t involved when they tried to sell a few years ago. I thought some buyers, potential buyers were overprced. Oh, but the bet is still very unique. And when there are things like bet rewards or things in the black community, UH, black viewers and other viewers go there first. Oh, that’s why it’s still going well. They only celebrated their 45th anniversary. I was there for the 32 years of this 45 years. So I still feel a language towards him. Oh, but I don’t know. I really pass through the merger and someone takes it under his arms and maintains the magic that really bets. When I was there, when he bought Viacom Bet, Redstone, Melmazin, Melmazin, he was an operator, he was Coo and loved Bet. And you know, once he said in the negotiations, you think two Jewish men will escape? I don’t think I said this clearly. But he allowed us to do our job, you know and the ratings were happy as long as he went right and supporting. Oh, if so, I hope this kind of support and a new structure. A lot is happening in a media business right now. Everyone is trying to get rid of linear networks, flow networks. I have seen it for the last 40 years. I’ve never seen anything so variable.
02:59 Speaker A
Yes, these Cannes lions come for a while. I mean, I know you can’t talk, but Warner Brothers decided to divide. Comcast is dividing, Paramount is approaching for them, I hope this is interested in Skydance. But what I don’t understand is what happened to linear TV networks? Finally, I wanted to say if there are managers there. Since advertising revenue decreases, they cut too much. Where are these assets ten years?
04:03 Debra Lee
Right.
04:14 Debra Lee
Comcast.
04:20 Debra Lee
Right. Right.
04:29 Debra Lee
This is a great question. I think they still have a strong life. I don’t know how long it took. I mean, now they still earn a lot of income. I left bet and Viacom almost eight years ago, and I saw it coming. I mean, I will be honest, I saw you came. Sources were pushed into the flow. Linear networks were fighting for resources. But the audience is still there. You know, you look at channels such as bet or TNT or Discovery. So the audience is still there and not everyone does not want to be in the flow. And this is funny for me because I remember when you say cable operators, oh, we need the illegal. People do not want to pay for all these networks. So they tried to push it. It never happened. But now you have five or six flow services, people who love content, bring all these streaming services together and we went back to the cable as it appeared 20 years ago. So I think there will be consolidation on the flow side. You know, I think there may be some consolidation on the linear side. However, linear networks are still strong and will be around for a while. Just in what way.
06:55 Speaker A
How hard is it to separate a linear process from a flow network? I think we have this feeling, we will separate these companies. The person will trade publicly. The other will go anywhere else. I mean, it doesn’t work exactly like that.
07:24 Debra Lee
No, I think it’s harder than most people notice. And um, what is interesting, we have been bringing them together for the last five to 10 years. You know, oh, we have to have linear networks with flow networks.
07:48 Speaker A
Linear TV creates this content flow content, we will all make a lot of money. Right. Finally, Debra, linear TV networks can be an independent asset, they will be open to the public. I think what Comcast is doing, can they think what a public company looks like? Is it a company managed to save cost? And perhaps they shouldn’t put forward the most surprising programming, because they are very careful about this transition to the flow.
08:26 Debra Lee
Yes.
08:37 Debra Lee
Right.
09:00 Debra Lee
Yes, I think they have to do both. They have to reduce costs like flow and have to continue to invest in programming, perhaps they compete against the flow, not as much as before, but they need to concern consumers. You know, consumers find the programming they want. Therefore, they have to constantly create content and have to market it. So why are we in Cannes Lions, because marketing is very important, brands are very important. Cable introduced the idea of diversity in media and programming. Before that, if you count Fox, we had four networks. And you know, it was a promise of cable diversity. Oh, you can have a network of women, you can have a network for hispanics, golf. And so you suddenly had 500 channels. And now it has been cut, but people still want their favorite brands. And if they don’t see them in the flow, they will continue to watch linearly. That’s why we have some restructuring.
11:03 Speaker A
Okay, fair enough. Debra Lee, former Bet CEO and author of I Debra Lee. It’s nice to see you here. Thank you for standing. I appreciate it.
11:12 Debra Lee
Great. Thanks Ryan. Thank you for having me.
11:15 Speaker A
Certainly.