jeffrey katzenberg is looking to reinvent tv for mobile users he's calls it an original series with tenutes or less covering everything that's on television, news and sports to sitcoms and reality tv but what makes new tv totally different is that the production costs and therefore the quality will be in line with top-tier tv costs. as much as $125,000 per minute that's more than ten times what's traditionally spent on digital content. with the higher budgets, katzenberg has jj abrams, marek f mark burnett, jerry bruckheimer and ron howard on board. he's enabling creators to own long-term content rights now katzenberg says it will take $2 billion to launch the service. so he's in talks to find a distribution partner to help fund the new business. based on meetings he had in sun valley and my understanding of interested players, that includes apple, google, at&t, verizon, t-mobile, snapchat and pot spotify. whatever distribution plan he ends up with, that would determine a free version with ads and a premium version for subscription fee this idea would sound impossible coming from pretty

. >>> media mogul jeffrey katzenberg launching his new venture called new tv.s is the co-editor in chief of "variety" magazine and he wrote the story about it. good morning. >> good morning. >> so tell us about this and what jeffrey is up to. >> well, let's start with what short form entertainment is on mobile screens we all watch the proverbial cats on skateboards, last night's baseball highlights. what jeffrey katzenberg is doing is let's take the production value, stars, writers, that do 30-minute, 60-minute tv shows and let's make two-minute, five-minute, ten-minute tv shows that are more conducive to that on-the-go, snackable way that we all conduct ourselves with mobile video. >> and so when you think about that, i mean you can handicap it right here, what do you think the prospect is for success? >> i think jeffrey faces some tough headwinds here if you think about the fact that the creative community has never done this kind of content before, that he's going to be calling on madison avenue to not deliver the usual 30-second spots but customized integra

from warren buffett to tim cook and entertainment space, les moonves and jeffrey katzenberger is hereyl sandberg, oprah winfrey, it's a who's who. snap's evan segal is here too. although we haven't been able to capture him on video. here's the thing. there are serious topics tackled in the morning, there are panels. they're closed to the press, but what we have heard from the sources they're about economy, science, the environment. sometimes they'll have big speakers come in and in the past couple of years there's a lot of politics. king abdullah of jordan is speaking and the attendees are going to hear from colombia's president, juan manuel santos and then cia director mike pompeo is speaking. while jared kushner and ivanka trump's appearance is raising some eyebrows it's not uncommon to have attendees with political ties. general mcchrystal was here along with prime minister trudeau and then the secretary of defense, ash carter he spoke here two years ago. in the afternoon some go horse back riding or whitewater rafting and there are a number of private meetings. >> haven't they sai

also warren buffett, sherry redstone, jeffrey katzenberg and reed hoffman among others. that jared kushner and ivanka trump are on the latest attendee list but they haven't been spotted here just yet discovery ceo told me he thinks president trump's lighter regulatory approach will enable more deals >> overall there's less regulation, it's more positive so from that perspective i think that it's likely to be favorable environment for business here. >> but others were critical, including sam altman, who expressed concerns about trump's negative impact on immigration, the environment, as well as tech ability to innovate. and billionaire ken langone who's been a big trump supporter said the political environment was wacky. politics is sure to be top in mind throughout this conference. tom brokaw is hosting a panel called the country divided, and political leaders from the king of jordan, the president of colombia will also be slated to speak over the course of the next two days. and next several days. but the first panel this morning is on the state of the american economy.