Comment: As Sumner Redstone has famously asserted over the decades, “content is king.” OK, but it isn’t worth much without the conduit to get it to someone who might want to pay for it either directly paying, paying for access or by consuming (so to speak) an ad. Verizon, in acquiring AOL, is joining some content -- primarily programmatic advertising -- with its growing conduit mix. Comcast, unlike most other conduit distribution companies, has extensive content as well and is set to harvest more set-top box data to help drive more advertising to NBCU. Time Warner once owned both content and conduit but spun off the pipes.
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