My January 2014 TechCrunch Interview - Anticipating This Year’s Eventual Massive New Content-Driven Investment “Wins"

In late January 2014, I sat down with TechCrunch and discussed my predictions for content-driven investment opportunities and overall innovation for the year.  Among other things, I anticipated the accelerating “rush” of Silicon Valley-based money flowing Southward to LA that continues to this day (and will only accelerate in 2015), as well as 2014’s subsequent mega content-driven M&A (and significant investor returns).  This past year, these included: (1) Disney’s acquisition of leading MCN Maker Studios for up to $1 billion; (2) Apple’s near $3 billion acquisition of Beats; and (3) Facebook’s $2 billion acquisition of V/R-driven Oculus Rift.

Here is the full interview in which I discuss a new “Golden Age” of content -- which is at the core of all of these deals (as well as continuing hundreds/billions of dollars of investment, blue-chip Silicon Valley VC Andreessen Horowitz’s $50 million investment in BuzzFeed to fuel ever-greater video development).

Samsung Will Buy Slacker

Musical chairs.  That’s were we are in the digital music world right now.  Behemoths are either finding their “match” -- or launching other major initiatives themselves.  Mega-moves in the digital music world are happening now.  Transformative moves.  Apple buying Beats for $3 Billion.  Google buying Songza.  Amazon launching Amazon Prime Music.  Samsung partnering earlier this year with under-the-radar San Diego-based Slacker to power its innovative Milk Music service.

Ahh yes.  Samsung.  While key competitors (primarily Apple) have bought their way into offering expanded digital music services, Samsung has chosen to partner.  So far.  But, partnering is a form of dating.  And, dating ultimately has the potential to lead to marriage  (I have experienced that myself with former companies).  In this case, I’d be surprised -- very surprised -- if Samsung was not already fully dressed and prepared to walk down the aisle to seal the deal.  Ultimately, Samsung -- just like other behemoths -- want more in control of their own destinies.  And, of course, Samsung and Slacker have been courting and making beautiful music together for several months.  Slacker’s parents -- its Board of Directors -- will expect a life-long commitment at some point, especially since they have supported their child (Slacker) for 10 years.  That’s an awful long time for venture capitalists to stay patient, especially since it is reported that they have invested about $50 million over those years.

Not sure if they funded that via Slacker’s 529 plan ....

Google Buys Its Way Deeper Into Music for a Song(za) - Here’s Why

Digital music wars continue to escalate.  Apple/Beats (bought for $3 billion).  Amazon Prime Music (recently launched).  Samsung/Slacker (major strategic partnership).  YouTube Music (coming soon to a smart phone near you).

And now Google itself, announcing yesterday that it has acquired curated digital radio service Songza -- something previously rumored and something I just predicted last week when I wrote:

The M&A market will heat up again soon -- and don’t be surprised if the next major move is Google swallowing up Songza.

Initial reports when the Google/Songza news first surfaced indicated a price tag of $15 million.  But, due to an apparent wealth of suitors following initial rumors, Songza was picked up for significantly more -- music to its investors ears, since the start-up (which I use regularly) had only raised $1.5 million to date.  

Expect more M&A in this white hot space in the next several months, precisely because it is increasingly daunting for stand-alone privately-held services like Spotify, Pandora, Rdio, 8tracks, and Slacker to compete and profit amidst these gorillas (here is last week’s analysis about that very issue).  One obvious move would be for Samsung to buy its Milk Music partner Slacker.

Apple/Beats -- My Bloomberg TV Panel -- VIDEO

Apple/Beats broke big on Wednesday.  On Thursday, I was a guest on Bloomberg TV with other Bloomberg editors discussing the deal -- and its overall rational and price-tag.  I agreed on some points, but disagreed with many of them.  Check it out here:

Apple & Beats FINALLY Make Beautiful Music Together - Here’s Why (& Why $3 Billion)

Finally, the music industry’s worst-kept secret -- the Apple/Beats $3 Billion mega-deal -- is official!  (Note -- previously we anticipated $3.2 billion, but now the deal is reported to be $2.6 billion cash and $400 million in Apple stock.)  And, in a surprising twist (to me), legendary music exec Jimmy Iovine is joining Apple full-time -- and Dr. Dre is joining Apple too (to work with long-time Apple music head Eddy Cue).

What took so long?  While I don’t know for sure, a good bet is that securing the requisite consents from the labels to transfer Beats’ music licenses to Apple was a big part of it.  I have been in that position before in M&A -- and it is not a great position to be in.  The one whose consent is required -- here, the labels -- hold all the cards.

So, here we are.  Why Beats?  Why Now?  And, why $3 Billion?

Here’s why.

Top 10 reasons Apple is buying Beats --

(1) Apple needs to make a bold move -- it’s been quiet for too long;

(2) Music has always been core to its DNA -- near-and-dear to Steve Jobs in every respect, especially marketing his products;

(3) Apple needs to get into the on-demand music streaming business; downloads are declining, subscriptions are on the rise.  Yes, Apple has its own Pandora-like service -- but it doesn’t have its own Spotify-like service;

(4) Beats and Apple are simpatico in many many ways -- the perfect marriage -- share the same DNA;

(5) Beats, unlike Spotify -- but VERY much like Apple -- is a hardware-first company; music services (like new Beats Music) are a Trojan Horse to drive more hardware sales of headphones and other hardware products (remember, Beats drove about $1.2 billion in revenues last year, all of which were hardware-driven); Apple markets music and media to drive more hardware sales -- THAT’s its business model (music is the means to an end);

(6) Beats and Apple are both artist-focused and have deep ties to the artist community; contrast this to Spotify which bills itself as a technology-first company; it’s just a different way to think about the world;

(7) As a result, Beats and Apple executives know each other well -- very well -- so there is a significant comfort factor here;

(8) In fact, Apple and Beats have been partners for a long time -- Apple features Beats products in its retail stores;

(9) Why?  Both Apple and Beats products share the “cool” factor; both make and sell premium products that represent more than the hardware itself -- they represent a lifestyle; they are aspirational; consumers are invested in those brands;

(10) Both share significant partnerships with AT&T; Beats Music just recently launched with AT&T as its primary distribution partner; Apple -- a few years back -- launched its game-changing iPhone with AT&T as its primary distribution partner.

That’s all well and good.  But how can the $3 billion price-tag be justified?  Here are 6 reasons how -

(1) Beats already generates between $1-$1.5 billion annually -- and that’s before any revenues by the just-launched Beats Music; so, the multiple on revenues is a fraction of those used to justify the vast majority of tech deals that are widely applauded;

(2) Beats is reported to be growing its revenues at a rapid clip (30% year-over-year, I believe); and Apple -- with its massive marketing budgets and global retail reach -- can only accelerate the growth of those numbers; by my math, that means that this deal likely will pay for itself in the not-too-distant future; compare that reality to the fuzzy math used to rationalize many (most?) of the deals you typically read about;

(3) Beats is an extremely valuable brand -- just ask the kids; some of you will say (I have heard this a lot in the last few days) that Beats headphones aren’t worthy of Apple, but to that I say “the numbers don’t lie.”  Bottom line -- Beats is doing something right.  Consumers -- and especially the coveted Gens Y and Z -- are devouring Beats products.  Beats is the cool kid on the block, plain and simple.  So Apple would be the beneficiary of this newly-constituted cool;

(4) Beats just launched its compelling on-demand streaming business Beats Music and, oh yes, Apple needs to be in that Spotify-like game (but isn’t ... yet); Beats built it -- now Apple will buy it -- and immediately be a force in a world it hasn’t yet known due to its legacy control of the overall digital download market (a market that is declining rapidly as on demand subscriptions a la Beats Music and Spotify rapidly ascend);

(5) Beats -- founded by Dre and legend Jimmy Iovine -- are widely hailed by the artist community for being all about real musicians and creative authenticity; their relationships with musicians run deep; they are trusted.  Apple -- on its own -- is still viewed by many in the music industry with suspicion as a result of the virtual monopoly Apple has held on digital music retail for the past decade;  so long as Dre and Jimmy are on board with the deal -- and stay on with Apple (which they will, albeit with great independence) -- then some of that respect and trust will carry over to Apple (and that is exceedingly important in this brave new world of music subscriptions where all players in the eco-system face challenging financials); and

(6) Many other factors here that can be used to justify the $3 billion price-tag, including the fact that Beats would accelerate Apple’s entrance into the lucrative wearables and “in the car” markets; and, of course, Apple needed to pay up in order to derail Beats’ bee-line to an inevitably highly successful IPO.

As I wrote previously, maybe this $3 billion price-tag isn’t so confounding after all.

I can hear boardroom doors now closing frenetically as we speak -- at Spotify, Pandora, Samsung and numerous others -- as they plot their own responsive strategic salvos.

Happy Birthday Manatt Digital Media -- Our First Year ... And The Long-Awaited Promise of “Convergence” ...

Today we celebrate the first anniversary of our launch of MDM (Manatt Digital Media).  And, what a year it’s been.  Yes, I am proud of our accomplishments in Year 1 (click here or see the full press release below).  But, even more exciting to me is the passion of those on the MDM team.  For MDM’ers, it’s not just a job.  That’s why we blog at 4 am.  That’s why we finalize pitches at 2 am.  That’s why we enthusiastically make business introductions and connections.  That’s why we host Digital Media Meetups in LA, NYC, and SF.  That’s why we invest our own cold hard cash in innovative startups like DanceOn, MovieLaLa, Ninja Metrics, Trailerpop, Adomic, StrikeAd, Vadio and eXacly.me (all of these were made in the past 12 months).

Most significantly, however, is how much the digital media landscape has changed this past year.  Think about it.  Not a week goes by without some massive billion dollar plus deal (or rumored deal) in the world of convergence -- where the promise of content meeting technology to create “magic” is finally coming of age.

Facebook/Oculus Rift.  Disney/Maker Studios.  Apple/Beats.  Google/Twitch.  Yahoo!/RayV.

Who has time to sleep?

But, that’s the point!  All of us in the midst of this maelstrom should feel energized to be in the midst of it all -- not knowing exactly where it is going, but adding our own individual ingredients to push it slightly more this way than that.

We are in the midst of transformative engagement.

That’s our Year 1.

So, it's not so much that we are celebrating ourselves (although, it’s always good to fete landmark occasions).  Rather, think of it more like we are celebrating the fast-transforming eco-system all around us.  The transformative eco-system that, yes, can be daunting at times -- but which, at the same time, is full of massive opportunity with active engagement, experimentation and good old-fashioned creativity, innovation, tenacity and hard work.

(But, for those of you who want a more “traditional” Year 1 anniversary pronouncement, here it is ....)

MANATT DIGITAL MEDIA MARKS FIRST YEAR WITH SIGNIFICANT GROWTH, ENGAGEMENTS WITH LEADING INNOVATORS, EXPANDED BUSINESS CONSULTING TEAM AND RECOGNIZED THOUGHT LEADERSHIP

·       Firm Emerges as Innovative Market and Recognized Thought Leader in Providing Diversified Professional Services and Deep Industry Connections With Growing Client Base of Innovators

·       Manatt Digital Media Demonstrates Industry Expertise and Commitment With Significant Strategic Investments And Leadership in Prominent Digital Media Events

LOS ANGELES, CA — May 21, 2014 — Manatt Digital Media, a fully-integrated professional services division within Manatt, Phelps & Philips, LLP, today announced that within its first year, it has established itself as a leader in digital media and technology through the growth of its client base, strategic expansion of its business consulting team, and by providing overall thought leadership and connections in the worlds of media, entertainment, advertising and technology.

Since May 2013, Manatt Digital Media has engaged with and invested in high-visibility digital media and technology companies, including leading multichannel network DanceOn; innovative content-driven and social media-focused companies MovieLaLa, If You Can and Vadio; market-leading ad-tech companies Ninja Metrics, Trailerpop, StrikeAd and eXacly.me; and data-driven company Adomic.

“Manatt Digital Media is servicing players who are redefining the space through innovative technology and entirely new digital media business models,” said T. Hale Boggs, chairman of Manatt Digital Media. “We are gratified that in the course of a single year, Manatt has built a strong name for itself and emerged as a formidable influential player in Los Angeles — the entertainment and digital media center of the world — as well as other key digital media and investment hubs, such as New York City, San Francisco and Palo Alto.”

“Our aim is to disrupt the traditional professional services approach to bring differentiated real-world entrepreneurial and operational digital media and technology insights to our clients through our wealth of expertise, relationships and venture capital experience,” said Peter Csathy, CEO of Manatt Digital Media. “We embrace disruptive new technologies and seek to empower our clients to be market leaders who further differentiate themselves from competitors by leveraging their innovative ideas as significant new business models and revenue streams.”

Key to its innovative approach, Manatt Digital Media has built a uniquely diversified team to provide its clients the industry’s most comprehensive and meaningful digital media professional services. As one example, the firm recently deepened its business consulting team by hiring leading consulting expert Eunice Shin, who brings more than 18 years of experience and deep relationships and connections in the media and entertainment industries. The firm’s expertise in content and intellectual property at the heart of digital media also separates it from all other consultancies, along with its unique combination of expertise in social media policy, privacy and data security.

“Today’s digital media world is interconnected and incredibly fast-paced, and it demands a bold and creative approach to professional, business consulting and legal services,” said Boggs. “With the growth of our client portfolio and the widely specialized executive team across legal, business and venture capital, we are building on the firm’s recognized legal experience to offer a full spectrum of world-class professional services, and we’ve seen that model benefit our clients of every size and every stage of development. We are not aware of any other organization that coherently ties together these capabilities in the digital media, entertainment or tech worlds.”

In addition to its growing team and clientele, Manatt Digital Media is widely recognized by top-tier media for its thought leadership and industry expertise. The company has hosted a number of high-level industry meet-ups and participated in several key industry events in the past year:

·       Manatt Digital Media Meet-Up — As part of Manatt Digital Media’s focus on supporting innovative entrepreneurs in digital media companies big and small, elevating new ideas, and creating a network of beneficial relationships in the digital media industry, the company hosted a number of exclusive Digital Media Meet-ups in Los Angeles, New York, and San Francisco. The events brought together a select mix of entrepreneurs, media company executives, artists, financiers, and key industry press and thought leaders.

·       UCLA Entertainment Symposium — Csathy participated as a moderator at the March 2014 UCLA Entertainment Symposium on its multichannel networks panel in the days preceding the recent acceleration of M&A activity in that space. The panel, titled “Multi-Channel Networks & Other New Premium Video Players — Their Impact on (& Opportunity for) Hollywood,” featured high-level executives of major players in the field, including Machinima, ICM Partners, Fox Networks and YouTube.

·       Siemer Summit— In October 2013, Manatt Digital Media sponsored the Siemer Summit, an invitation-only event that drew more than 500 of the most influential leaders in digital media and emerging technologies from around the world. Manatt Digital Media also provided joint funding to the winning startup of the Siemer WaveMaker Award’s Best in Show, which awarded the startup with the most innovative platform that was most poised for growth. The company will return as a leading sponsor in 2014.

·       Digital Entertainment World Expo — Manatt Digital Media sponsored Digital Entertainment World Expo in February 2014. The company served as the main sponsor of the 2014 DEW Startup Competition. Of the total prize, the winner received a $25,000 investment from Manatt Digital Media in the form of a convertible note, as well $25,000 of professional and business services from Manatt, Phelps & Phillips, LLP.

“Our active involvement in the digital media space keeps us attuned to the leading ideas and technologies that drive the industry forward,” Csathy added. “As we continuously deepen our relationships among key digital media players and develop, sponsor and participate in major events — not just at the heart of content creation in Los Angeles, but around the world — we are ensuring that our clients are the first to know about critical trends and disruptive, innovative technologies and how they can positively impact their business.”

About Manatt Digital Media

Manatt Digital Media is a full-service digital media platform created by entrepreneurs for entrepreneurs, whatever the size or stage of the company, from startup to growth-stage to mature public companies. Manatt Digital Media uniquely offers a one-stop shop of professional services that is grounded in the legal and business experience of Manatt, Phelps & Phillips, LLP, one of the world’s most respected law firms in the media, entertainment and advertising industries. Manatt Digital Media offers its clients differentiated value and impact in multiple forms and across the life span of their companies — from venture capital to strategic relationship building and artist access to business consulting and creative deal-making, including content licensing, distribution and M&A. For more information, visit www.manattdigitalmedia.com.

About Manatt, Phelps & Phillips, LLP

Manatt, Phelps & Phillips, LLP, is one of the nation's leading law and consulting firms, with offices strategically located in California (Los Angeles, Orange County, Palo Alto, San Francisco and Sacramento), New York (New York City and Albany) and Washington, D.C. The firm represents a sophisticated client base — including Fortune 500, middle-market and emerging companies — across a range of practice areas and industry sectors. For more information, visit www.manatt.com.

Apple, Beats & Dre - This One’s Personal! (& Why $3.2 Billion Is Defensible)

Until the Apple/Beats deal closes -- and even after -- that $3.2 billion topic will stay front-of-mind in the global business world (and not just the tech and media sub-worlds).  I certainly have given my “two cents” about the deal -- and the questions keep coming.

But, here’s a little known fact -- this mega-deal is personal.  Literally, personal.  Very.

You see, I started my career “back in the day” as a hot-shot (or so I thought) LA-based entertainment/music lawyer -- and my single most important client was the notorious rap group N.W.A.  That’s right, I represented Dre at the height of the group’s rebellion in a major high profile First Amendment case.  And, in a strange twist of fate -- a story that I will leave for another day -- N.W.A. led me to my wife of nearly 20 years.  You see, N.W.A. was always all about the love (the world just didn’t always see it that way).

But it doesn’t end there.  I later left the law and entered the world of business (much to my mother’s chagrin) -- at one point becoming President of digital music pioneer Musicmatch (later acquired by Yahoo!).  In my role, I oversaw all major strategic partnerships -- including one key partnership with Apple -- a partnership in which our small innovative company licensed our technology to enable Apple to bring its just-launched iPod into the cross-over Windows PC world.  And, as they say, the rest -- for Apple -- is history.  That act was fundamental to mass adoption of the game-changing iPod.  Believe me, there’s a story there too.  Again, left for another day.

So, for me, it is rather poetic to be asked by the press to comment on this Apple/Beats deal.

But, again, it doesn’t just end there.

I also find it rather gratifying that Southern California-based content-driven investment and creativity are getting a well-deserved moment in the global spot-light  After all, $3.2 billion is an impressive number even for the most jaded of non-SoCal VCs.  And, let’s not forget that this follows in rapid succession to the recent $2 billion acquisition by Facebook of SoCal-based digital media company Oculus Rift -- and the near-$1 billion potential exit for LA-based digital media company Maker Studios by Disney.

Who says that content and creativity can’t be king?

One more thing.  For all the haters of the $3.2 billion price-tag, just consider this:

(1) Beats already generates between $1-$1.5 billion annually -- and that’s before any revenues by the just-launched Beats Music; so, the multiple on revenues is a fraction of those used to justify the vast majority of tech deals that are widely applauded;

(2) Beats is reported to be growing its revenues at a rapid clip (I read 30% year-over-year somewhere); and Apple -- with its massive marketing budgets and global retail reach -- can only accelerate the growth of those numbers; by my math, that means that this deal likely will pay for itself in the not-too-distant future; compare that reality to the fuzzy math used to rationalize many (most?) of the deals you typically read about;

(3) Beats is an extremely valuable brand -- just ask the kids; some of you will say (I have heard this a lot in the last few days) that Beats headphones aren’t worthy of Apple, but to that I say “the numbers don’t lie.”  Bottom line -- Beats is doing something right.  Consumers -- and especially the coveted Gens Y and Z -- are devouring Beats products.  Beats is the cool kid on the block, plain and simple.  So Apple would be the beneficiary of this newly-constituted cool;

(4) Beats just launched its compelling on-demand streaming business Beats Music and, oh yes, Apple needs to be in that Spotify-like game (but isn’t ... yet); Beats built it -- now Apple will buy it -- and immediately be a force in a world it hasn’t yet known due to its legacy control of the overall digital download market (a market that is declining rapidly as on demand subscriptions a la Beats Music and Spotify rapidly ascend);

(5) Beats -- founded by Dre and legend Jimmy Iovine -- are widely hailed by the artist community for being all about real musicians and creative authenticity; their relationships with musicians run deep; they are trusted.  Apple -- on its own -- is still viewed by many in the music industry with suspicion as a result of the virtual monopoly Apple has held on digital music retail for the past decade;  so long as Dre and Jimmy are on board with the deal -- and stay on with Apple (which they will, albeit with great independence) -- then some of that respect and trust will carry over to Apple (and that is exceedingly important in this brave new world of music subscriptions where all players in the eco-system face challenging financials); and

(6) So many other factors here that can be used to justify the $3.2 billion price-tag (I previously listed and discussed 10) -- Beats would accelerate Apple’s entrance into the lucrative wearables and “in the car” markets; and Apple needed to pay up in order to derail Beats’ bee-line to an inevitably highly successful IPO.

Hmmm.  Maybe that $3.2 billion price-tag isn’t so confounding after all -- and maybe, just maybe, the creative content-driven entrepreneurs behind Beats and other SoCal-based content-driven digital media companies are smarter than most believe.

I certainly think so.

And, others seem to be catching on to this new trend of successful “atypical” digital media/tech entrepreneurs.  Even TechCrunch -- in the belly of Silicon Valley -- is starting to “get” it.  In the words of TechCrunch writer Alexis Tsotsis in a great “must read” post yesterday:

“Dr. Dre and his partner Jimmy Iovine are examples of a caste of atypical tech founders, entrepreneurs and leaders that are becoming all the more typical.  People from the worlds of fashion and art, designers and marketers and artists -- who have never written a line of code ... Tech’s future goes beyond engineering.  It has to.”

Amen to that!

Apple/Beats -- Why Beats? Why $3.2 Billion?

The digital media/tech world -- globally -- is abuzz with news that Apple may acquire Beats for $3.2 billion.  I literally just got off the phone with BBC Radio for a radio interview -- and will be on BBC TV via Skype video later today.  Several others have reached out for comment, underscoring the fact that when Apple sneezes, the world grabs a tissue.

So, first, if true, why Beats?  Why would Apple make a deal that would be, by far, its biggest acquisition to date?

(1) Apple needs to make a bold move -- it’s been quiet for too long;
(2) Music has always been core to its DNA -- near-and-dear to Steve Jobs in every respect, especially marketing his products;
(3) Apple needs to get into the on-demand music streaming business; downloads are declining, subscriptions are on the rise.  Yes, Apple has its own Pandora-like service -- but it doesn’t have its own Spotify-like service;
(4) Beats and Apple are simpatico in many many ways -- the perfect marriage -- share the same DNA;
(5) Beats, unlike Spotify -- but VERY much like Apple -- is a hardware-first company; music services (like new Beats Music) are a Trojan Horse to drive more hardware sales of headphones and other hardware products (remember, Beats drove about $1.2 billion in revenues last year, all of which were hardware-driven); Apple markets music and media to drive more hardware sales -- THAT’s its business model (music is the means to an end);
(6) Beats and Apple are both artist-focused and have deep ties to the artist community; contrast this to Spotify which bills itself as a technology-first company; it’s just a different way to think about the world;
(7) As a result, Beats and Apple executives know each other well -- very well -- so there is a significant comfort factor here;
(8) In fact, Apple and Beats have been partners for a long time -- Apple features Beats products in its retail stores;
(9) Why?  Both Apple and Beats products share the “cool” factor; both make and sell premium products that represent more than the hardware itself -- they represent a lifestyle; they are aspirational; consumers are invested in those brands;
(10) Both share significant partnerships with AT&T; Beats Music just recently launched with AT&T as its primary distribution partner; Apple -- a few years back -- launched its game-changing iPhone with AT&T as its primary distribution partner.

So, how about the rumored $3.2 billion price-tag? How can that be justified?

(1) As indicated above, Apple needed to make a bold move -- and has plenty of cash to do it; this may be a first bold move (with more to come ... stay tuned below);
(2) Beats already drives $1.2 billion in annual revenues; Apple -- with its much broader platform and overall reach -- can magnify that number, especially with its renown marketing prowess; this may be a case where “cool” + “cool” = “cool” squared; and
(3) Scarcity -- given all of the above, Apple may view Beats as standing alone in this overall game -- which leads to the issue of scarcity and the need to make a bold move to take that target out; remember, Beats was driving toward an IPO; only a massive price-tag could stop that train.

What’s next?

Assuming Apple closes this deal, expect Apple to do the unexpected -- retain Beats’ brand (something I don’t recall them previously doing).  That brand alone is valuable -- very.

And, here’s a bold prediction (that I made one year ago far before more recent rumors started to swirl around about it).  Maybe it is Beats first, and Tesla second (interestingly, I am writing this post at the Tesla Service Center in San Diego while I get my Elon Musk-driven safety coating installed on my Model S).  Car audio makes so much sense for Beats.  And, Tesla makes so much sense for Apple.

One more bold bonus prediction -- why doesn’t Apple just buy DISH Networks to solve its iTV content problems (much in the same way Apple may buy Beats to solve its on-demand music streaming problem -- i.e., music label licensing agreements)?  I wrote about this previously as well and laid out the rationale.  DISH’s CEO, just the other day, publicly said that they have the critical mass of the network licenses they need to run their own compelling OTT “TV” service.  With AT&T potentially making a play for DirecTV, maybe Apple may take another bite by dishing it out for DISH.

We live in interesting times indeed ....