1. Nobody in any P10 organization has seen any actual numbers from George Kliavkoff yet.

2. Nobody has seen any streaming versus linear TV breakdown yet.

3. Whatever they’ve been told they don’t think is too bad.

What seems likely but not certain:

1. The media narrative is different because they actually know what is going on and how the negotiations are going or are likely to go, while the ADs and Presidents only know what Kliavkoff keeps telling them.

2. The media’s discussion & speculation around realignment is based on their knowledge of what is likely to happen in media negotiations.

What might be true but probably is not or there is really no way to know:

1. The media are trying to drive the acceptable price/expectations for a deal downward.

2. The B12 is driving the media conversation in an attempt to break up the P10.

In light of this all we have going on in my view is Kliavkoff trying to do his job and keep the P10 together, telling them what he hopes to get done, versus the media who are negotiating against him. There may be an appetite for the P10 and they are just trying to lower price/expectations, OR the stories on the media side might be true, and interest isn’t all that strong.

My bet is on the latter.