Lachlan Murdoch: No, that’s fine. Hi. Good morning. So I think the best way I can answer both questions sort of with one answer, I suppose which is the value — you’re 1000% right college football has never been more popular. It’s rating extremely well. And one of the things we haven’t talked about is frankly advertisers have found it. Advertisers are pouring in to call triple with tremendous rates and with tremendous appetite for volume, because they can see the value in this audience. And perhaps, it’s been underpriced in past years, I’m not sure. But certainly, advertisers are recognizing the opportunity in college football and obviously, we’re the leader. But ultimately, we build value through our brands and through the Fox Sports brand and Fox Sports and station distribution.
And so we’ll continue to build value through college football through, the Fox Sports brand and monetizing it that way. The same thing with Tubi. First of all, we don’t envisage any kind of significant live sports on Tubi in the near or frankly median perhaps even long-term future. But Tubi is very focused on primarily entertainment and particularly in video-on-demand entertainment, which makes that content and then engagement with their users all the more valuable. And I think, it will be a long time before we see significant live sports on Tubi. In terms of how we unlock the value in Tubi. Tubi will be the way our audiences engage primarily engage with entertainment in the future. It’s a core part of our business and a core part of our strategy and so we’re building value there organically through driving its growth.
I couldn’t be more pleased with the arrival of our new CEO Anjali Sud. She’s doing a tremendous job and has very clear and strategic sort of retention and view for how we continue to drive Tubi’s success. So, thank you Ben.
Gabrielle Brown: Operator, we will take the next question.
Operator: And that’s from Jessica Reif Ehrlich from Bank of America Securities. Please go ahead.
Jessica Reif Ehrlich: Thank you. First of all I want to say, I really appreciate your introductory comments regarding news reporting and of course about your father who was is definitely one of a kind. But my question, I guess, two-part two as usual from all of us. First on advertising. Can you give us your outlook for political advertising and what the current tone of sports advertising is. We know the general marketing still seems pretty tepid? And then maybe, kind of, a nuance on what Ben just asked but the longer-term vision for Tubi like it’s clear there’s tremendous growth near-term but is this the vehicle as you think about possibly transitioning to streaming given the decline in the universe? Or how are you thinking about it?
Lachlan Murdoch: Thanks, Jessica. And then thanks for – thanks for – my comments. So let me start with advertising. So the — we also hear and understand that the advertising market appears to be I use the word mixed right or sort of unsettled. However, we are not seeing that to the same extent due to our focus on sports and news. So let me start with sports where we’re seeing high demand around our NFL and we just discussed our cost football schedule particularly in the national, sort of, market pharmaceuticals, auto, quick service restaurants and CPG categories have all been quite active and I think importantly our pricing has been added premium to our modest premium, but we are pricing above our upfronts, which certainly in a sports category the market remains healthy.
This will be somewhat tampered by post season baseball including their conclusion of their world series last night. I think sometimes you get lucky and you get seven series — 7-game series with a matchups that are in sight the imagination of a national audience and sometimes you’re less lucky. So that’s how that could be combos. And so, I think, we would like to have seen more games and we’d like to have seen a bit more, sort of, national excitement around these games, but it is what it is. Having said that we should congratulate the Texas Rangers for a great season and winning the world series. At FOX News Media, our national advertising is solid with growing pricing. And it’s important to note that we have over 80 new national advertisers in Primetime, specifically, in our 8 P.M. hour in the first quarter.
