Squawk Pod Merck CEO & Kimmel’s Return 9/24/25
Sep 24, 2025
Robert Davis, Chairman and CEO of Merck, shares insights on the FDA's approval of Keytruda's new injectable formulation, emphasizing its convenience and potential patient benefits. He discusses Merck's pricing strategy and commitment to ensuring access without hindering adoption. Meanwhile, media reporter Matt Belloni dives into the Jimmy Kimmel controversy, exploring its implications for late-night TV and the dynamics between networks and affiliates, particularly focusing on issues of free speech and contractual obligations.
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Kimmel Clash Reveals Contract Strains
- The Kimmel suspension highlights deeper contractual and economic tensions between Disney and local affiliates like Nexstar and Sinclair.
- Affiliates can opt out of content temporarily, but prolonged blackouts force negotiations over carriage and affiliate deals.
Digital Reach Can Offset Falling TV Ratings
- Kimmel remains valuable to ABC due to strong digital performance and carriage fee economics despite declining linear ratings.
- Networks apportion carriage fees differently, so a show's on-paper profitability can vary by network accounting.
Raise Grievances During Contract Talks
- Affiliates and networks should resolve content disputes within contract renegotiations rather than indefinite blackouts.
- Matt Belloni advises raising issues during affiliate deal talks because opt-outs trigger required discussions with the network.