♪ back to bloomberg best: the sports summit. i'm jason kelly. los angeles made a bid to host the 2024 olympic games, but as president trump's travel ban is being fought in the courts, it is unclear how it may impact the city's chances when members vote in september. asked if the travel ban could affect olympic athletes. >> we do host a lot of competitions in the u.s.. we are proud that over the last five or six years, we have reached out and tried to host events like equestrian events events, some of the

lower profile olympics. we have to make sure those are open to athletes from around the world. when we have a competition here, we courtney closely with the state department, which has been great with estimate sure athletes, no matter where they come from, have access. he had 21 iranian archers admitted to the country to take the and las vegas. scarlet: so they are allowed to come in for competition purposes, but not necessarily training purposes? state will have to ask department that. our issue is making sure we get them in for competitions. who can get in -- in terms of who is not competing, is not a question for us. scarlet: i know there are facilities for athletes across sports. you worried about muslim athletes not being able to come into the u.s. for training? >> our obligation first and foremost is to make sure that american athletes get the support that they need to win

medals at the olympics and paralympic games. people come from all over the world to train in the united states. have athletes from over 200 countries at the universities that we have. that will continue, i don't think that will stop. we have to keep our eye on the ball and make sure that we do it the right way. scarlet: more broadly,e in a period of nationalism that could more intense. what will the olympics look like in an era of hyper-nationalism? across mexico, asia, europe? >> the great thing is it is a global event. at the end of the day, athletes from all over the world are coming together, not to talk about what makes us different, but what makes us alike. athletics is an amazing tool that we can use to make the world a smaller people -- smaller place and recognize the good things that deal of big

games make us believe in. scarlet: athletes have benefited from globalization. athletes competing for a country , a country of their parents birth rather than they were -- where they are now. you see that dynamic changing? >> the world is becoming a atller place and if you look the various communities around the world, they are all becoming more diverse. i think it is inevitable. thing about the olympic games is it is a values-based movement. the besth of us being we can be and overcoming obstacles and challenges. a good beacon for all of us to have as we deal with these issues happening, not just in the u.s., but all around the world. scarlet: you worry we will go back to the era before thoughts? >> -- arab boycotts. >> i think we learned our lesson

in 1984 and it is critical that the- when we compete in olympic games, we not engage in boycotts. scarlet: los angeles bid to host the 24 -- 2024 olympics. this donald trump's rhetoric helped or hurt that? >> that is up to the voters. we never really know what is inside their heads. that the kellyu bit is the best bid. billion budget, substantially below any summer olympic games in recent times. 80 per -- 87% of people in los angeles support the bid, so it is an opportunity for the u.s. to host the games again. the first time since 1996 in atlanta. jason: the 2024 olympic games

are still years it -- away. the winter games take place in less than a year. scarlet: when we have the next olympics, it will beheld in asia and there will be so much content that you can't fit it into the u.s. programming day. how would you do the olympics different than how you have done it here? the summer olympics, as well? >> the next three games are all in asia. we also have tokyo and beijing. in a strange way, it is better for our time zone here to have it in asia than in europe. because of the 14-hour time difference between here and south korea. therea.m. and 2:00 p.m. is prime time here. in the winter games, so many events like outline skiing and sledding and those things take place in the middle of the day. you need day like to do it. we will be live in primetime more than people expect.

the figure skating schedule has been largely moved to the middle of the day and will be live in primetime as well. there are so many hours. we will televise across many networks. one of the things about the scale of our company universal, we can program to rio, one in english and spanish in telemundo. nine cable networks and all the digital platforms and put 10 months of content on in 17 days. scarlet: did you apply any pressure to make sure nhl players can partipate? >> we want the best in the world to be part of the olympics and i think the players want that too. we remain hopeful. scarlet: we are still waiting to hear if nhl players will participate in the olympics. what is the holdup? >> there is no deadline or basis on which there is a agreement to

move forward. we will have to see what happens. scarlet: what will it take or how much to make sense for any owners? >> i think there's a lot of frustrations that after the last five olympics, the disruption to the season is something that has been on the mind of the nhl teams. to have anot going public negotiation on this, but we have had meetings with the head of the international and the headttee of the international ice hockey federation. i think things are still very much in the air. has -- gamesnhl are held in the north america or canada. less so when outside. what about the games held in korea in 2018? >> we are looking to grow the game on a worldwide basis. we are bigger and stronger than we have ever been in north

america. our franchises have never been stronger. we are going to use the next few years as an opportunity to grow the game worldwide. the game has a great presence worldwide already. 25% of our players come from outside north america. in this great opportunity, not only to develop more players, the bring nhl hockey to more people. scarlet: the players aren't the best way to do that is on the international stage. >> i would suggests our experience over the last five olympics would not bear that out. role, we arermal not allowed to promote the fact that we are on olympic sponsor without any rights to show the world how connected we are to the hockey tournament. scarlet: but everyone knows -- >> it doesn't translate. it is not the way the gains are covered, it is not the way it is promoted and alex is a great player, we love having him. attentionot sure the

he would get at the olympics would be the same if we had an opportunity to promote it ourselves, because our primary focus is still north america. next, the way people consume and interact during sports is evolving. >> look at what we do on monetize of all social media, which is hard to do but we are getting better at it as an industry. jason: that is ahead on bloomberg best: the sports summit. ♪

♪ jason: with more fans, more ways to watch and more avenues to interact with a game, sports broadcasting rights have become increasingly valuable. the two customers value the content as much as the networks do? scarlet fu put that question to nbc sports chairman. >> we have never seen a time where more people have been consumed by sports. there are more fans now than

ever, but we have to be mindful of how they are watching it, how they are consuming it and are they, in fact, watching it or following it through various devices and maybe not spending as much time with it? i think time spent on sports content through longform games is what we have to make sure they are exciting so we can keep they -- those viewers and our revenue streams intact. scarlet: we think about how espn's subscriber ratings are down. are we not measuring engagement the right way? >> olympic ratings came down once. in rio from london, maybe a high water mark. what i don't believe is that we are in necessarily a downward inevitable spiral to the bottom. the real olympics is still a higher -- highest rated show on television in 2016, followed by sunday night football, followed by thursday night football. so they are not assist early surly at the high watermark,

that we are still seeing massive consumption and not only on television. from a measurement point of view, we look at total audience delivery. we look at what we do on television. we look at what we do want digital. what we do want connected tv devices, i monetize a bull -- monetizeable social media. how many people watch? this year's nfl season, more people actually watched. the reach was broader than ever. they were watching for shorter periods of time. that is something the nfl and commissioners have talked about addressing, how do we keep people engaged? you look at the different forms of distribution, which one is the stickiest? which one holds the most promise that you can exploit? seeing over 90 8% of the viewing coming through television, linear television. it is going to take a long time

for other forms of viewing to change that dynamic. television is still by far the most powerful. another aspect to his -- is a lot of digital coming through televisiones -- devices, apple tv, and was on fire. if you look at those connected portiones, while a huge of the minutes are consumed through digital are coming through those, it tells you that big screen in the living room surrounded by friends and family is still the dominant choice for fans. scarlet: much has been said and written about the drop in nfl ratings. which makes the most sense to you? >> it is time spent viewing. more people watch, but they watch for a shorter period of time. >> is that a bad thing? scarlet: if you are trying to aggregate an audience for a long

period of time. you certainly want people to watch for long as possible. that drives our ratings, which drive our rad -- and everett -- add revenue. forit is still important advertising in the marketing department. scarlet: let's look at march madness. last year, the title game was on cable for the first time. an incredible game at the buzzer. ncaa after that game, the extended the rights through 2032. this partnership began in 2010. did you have any idea it would be as successful as it has been? >> we didn't. we knew the event was successful. premium sports properties, which is what turner looks like -- looks at, we had no idea if the cultures would work together with each other. cbssean, my partner over at , from the top down, he had a strong philosophy. if we just focus on the consumer and not worry about cbs or

turner, that is what makes it successful. every decision that we have been making over the last five years, has been focusing on the consumer. ourher it is digital with march madness live, whether it is with tv and having all of our networks airing the game at the same time and promoting each other's games. the announcers will say, turned to tmc, there is a great game in the fourth quarter and vice versa. you think about the television business. in the history of television, one network saying to leave and go to another network. because of the deal structure which was designed to make sure there was no competitive nature, all of the revenues are piled in and divided equally. so if cbs does well, we are happy. and if turner does well, they are happy. it works. scarlet: the unique case of win-win. can this be replicated elsewhere? >> i think it can be and you are

seeing some of that happen with the sharing of the tbs and nbc deal in the nfl on thursday night football. not the exact same way, because the each have their own games versus one. but if you look at the future of new platforms with facebook and instagram and snapchat, how they are going to play in the field years from now and what kind of partnership they might form with other media companies. they don't do production. willnk it was a model that be replicated down the road at some point. scarlet: what are the challenges of splitting the game with cbs? >> it was the opening line that sean and i talked about. the fact we didn't really want a cable package. he had to make sure both of us had equal packages and felt equal partners. that stemmed from the top down. once that was decided, we talked about saying, i am not going to just carry the early round

games, i want to chance at the final game and so on. that is where the alternation came from. we had tremendous success and from a turner's perspective, i have been in the company 30 years. that is one of the things i talked about to the entire staff, to see the entire employees being able to see that game-- the north carolina was amazing, winning at the buzzer, to have that history made on turner broadcasting was a crown jewel of the whole year. scarlet: that was an incredible game and you had the world series with the chicago cubs winning it all. and you had the nfl this season where ratings were falling. what is your best read on what drove that? of things.e a lot i and not worried about the nfl, that super bowl was amazing and the ratings were terrific for it. there were a lot of blowout

games, a lot of things happening in prime time that caused ratings to decline. some matches were not as dominant as they could have been hidden. i think the nfl is going to be fine. jason: coming up, some friendly advice for the future owners out there. isthe glare of the media there in sports and you have to be willing to deal with that or embrace it. ♪

♪ jason: playing in the nfl means playing with injury. it is nearly and guarantee that at some point in a typical career, a player will suffer a minor or major injury. it is part of the game. painith that comes management and that sparked a discussion on opiates and marijuana. i asked about that issue. issueical marijuana is an

that we are looking at in the overall context of the reality that every one of our players plays with pain. we are looking at the issue of opiates, how those are prescribed to our players, and we are taking a look at whether there are ailments that can be treated through the medicinal use of other drugs. andar as the drug policy how marijuana is treated under the policy, i think the goal should be, what is the best therapeutic, medical way to treat people who might have an addiction problem or who are using marijuana as a coping mechanism for something else. and right now, i can say that one failure of our current drug policy is for the players who are coming into the policy, having been caught for smoking

marijuana, virtually none of those players are receiving any treatment whatsoever. and it seems to me that you would want that. so, if there was a player who has a depression issue durant -- or an add issue or a pain issue, i would much rather be in a world where we are figuring out that issue instead of having a policy that simply punishes the symptoms. seeking ane mets are investor in the team. can you give a sense of what the plan is here? >> it is really not that complicated. we are looking for a strategic partner to take the team to the next level. it seems like a good time for a deal to happen. we have been pursuing that for several months. scarlet: at the same time, when you look at other teams that play, the islanders, they seem

to be in a sticky situation. his hockey in brooklyn a tough sell? >> i don't think so. it is a matter of doing it the right way with the right partners. now the colosseum was bought and renovated, can you give us a sense of the overall strategy? to create a global entertainment venue or to build on his global entertainment value? >> we are definitely building up we have now and that is barclays with that arena. i think this will be a great extension. it is an iconic venue. we are looking forward to opening again in april. i am not sure about global expansion plans, it definitely in the tri-state area, looking to expand their portfolio and create an experience to host artists from smaller venues all the way to 20,000 person arenas. scarlet: how do you make the distinction between what artists would play in nassau coliseum

versus berkeley center? >> i think we would love all artists to play both. that is probably where we can -- i am optimistic it will be part of the tour for both arenas going forward. scarlet: in your previous arena, so are in equities analyst you are well versed at sizing up different assets. i wonder, what is the common thread between picking and your current responsibility? >> when you look at financial statements a lot. i think the big difference is basketball, you're dealing with people. your players are your big it -- biggest assets. they are not a commodity, they are cute -- human beings. they have strengths and weaknesses and it is tough for general managers to optimize selection and make it work. scarlet: are they in undervalued stock in some ways? >> tell me what the value is and

i will tell you. we will see. we are in the market for finding a strategic 49%. we will see where that comes up. i would imagine a lot of people come to you for aevice. ople in thivate equity -- what is the single piece of t device you give to them about assessing a potential deal? >> i certainly market. you have to buy in the right market. and by in the right league. arctic and league is very important. -- market and league is very important. certain sports are on the right side of the media footprint, certain sports aren't. in the live entertainment business, like a circus or something like that, once you get the global audience interested, you are in an international media business. those are different businesses. from my point of view, i think sports is the triple play.

it is a lot of fun. i think it is a great individual investment and i think it allows you to connect to the community, whether it be philly or newark or south london, where the eagles play, you are really touching the hearts and minds of that community aren't -- and are really a stewart. i tell people that you have to be comfortable with that. it is the responsibility. the other thing i mention is the media. in my day job, or i spend most of my time, we have very large companies that are very important in their own right. price one cares what the of polypropylene is, as opposed to everyone cares who the starting lineup for the sixers is. the glare of the media is there when you are in sports and you have to be willing to deal with that or embrace it.

this has been a special edition of bloomberg best. the sports summit. i am jason kelly. thanks for watching. ♪

>> thanks, guys. >> of course. have a good show, everybody. announcer: the following is a paid presentation for skin science. and now the exclusive premiere of winning the wrinkle war. how age renewing and youth building ingredients can actually deliver incredible results like these in just 14 days.