The Powers That Be: Daily A Telegraph Putsch & The Disney-YouTube TV Denouement
Nov 17, 2025
Jon Kelly, a veteran media journalist known for his expert analysis of media industry dynamics, joins Peter to dissect the shocking decision by RedBird to abandon its Telegraph takeover. They explore the clash between YouTube TV and Disney, emphasizing how YouTube’s growth has reshaped negotiation power in media. Kelly reveals the regulatory hurdles and newsroom resistance that led to the Telegraph deal's collapse, while also discussing how savvy consumers navigate the fragmented sports landscape. A riveting discussion for media enthusiasts!
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YouTube TV Holds Negotiation Leverage
- YouTube TV is shifting negotiation power toward distributors because it can grow into the largest distributor and doesn't need the legacy fee structure.
- Jon Kelly argues Disney may have to blink before YouTube because YouTube can absorb disruption and demand data access over time.
MFN Clauses Magnify Fee Pressure
- MFN clauses force media companies to raise fees across distributors if one agrees to higher rates, which erodes margins amid rising sports rights costs.
- Kelly warns that repeated fee increases become unsustainable as sports rights keep getting pricier.
Perception Wins Subscribers
- YouTube TV benefits from being seen as a friendly, modern platform rather than a hated cable utility, improving customer satisfaction.
- Peter Hamby cites J.D. Power data showing YouTube TV ranks highest for live TV streaming satisfaction.