As streaming has rocked the television industry, one media mogul has gone against the trend by spending big on live broadcast rights. In a recently released interview, he revealed the key advice from News Corp. (NWS) Founder Rupert Murdoch by way of Oracle (ORCL) Chairman Larry Ellison that led him to do it.
The gist: Go all in on sports.“‘It's the biggest thing ever,’” Allen recalls Murdoch having said to Ellison. “‘It's the true religion of America: sports. That's what we love, and we are religious about it. And it's a great business. It's a phenomenal business. And it will continue to be a great business.’”...