I think the other challenge these guys have and the industry in general is the amount of “cable cutting” going on as many subscribers are preferring on demand streams rather than live canle with adds. I don’t remember the last time I have watch a show without fast forwarding the commercials or just watching them on demand now. That will weigh in the future and overbidding has its costs in the long term given the amount of debt these operators have as well.
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