California (Hollywood Reporter) -- Bill Gates predicts a future for the entertainment industry in which traditional broadcast television is rendered irrelevant. It's a positive vision, however, because new and better business models made possible by technology are emerging.
In an interview with The Hollywood Reporter, the Microsoft Corp. chairman and chief software architect, recalled a conversation in 1991 during which Larry Tisch was having buyer's remorse over his investment in CBS, noting that the impending changes were evident even then.
"Broadcast TV is under a challenge. That's news to no one," Gates said. "You know, ABC was more valuable for its (ESPN) sports franchise than its broadcast franchise even years ago. That was recognized. The networks have a still super-interesting position, but it won't be like it is today."
News source: CNN
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