Durham Dissonance: Lots Of Smoke, No Firings

We are listening to a Canadian podcast on which the Svengali behind Justin Trudeau describes Donald Trump as the lyingest liar who ever lied. (Possible). He describes Trump’s effect on public credibility in apocalyptic terms. Never is heard a word about what the Biden Crime Family has done to people’s confidence in officialdom. Nor what Trudeau’s own cupidity has wrought in Tinker Toy world.

There is bliss in the purity of his indictment. Hustlers always enjoy bliss. While Trump’s penchant for bloviation is beyond doubt, there is something slightly mind-bending about setting down a marker on Orange Man Bad’s effect on the body politic while somehow ignoring Skippy’s effect on Canada.

Insert irony here: This chin-tugging about the dread POTUS 45 was coming just as a U.S. Special Counsel John Durham was announcing that Hillary Clinton and the Democratic Party conspired with the FBI/ CIA, the Obama Administration and the legacy media to fix the 2016 presidential election. When that effort failed, the same actors staged a four-year-long running coup against a democratically elected president using the fake Russiagate narrative. (“Worse than Watergate,” thundered Watergate auteur Carl Bernstein.) If they were the tinder then the amenable media was the accelerant.

Like Trump or not— and he has created bitter enemies on both sides of the political spectrum— no president has likely ever had such treachery levelled at him. Any attempts by the Mueller Investigation or inspector-general Michael Horowitz to suggest Trump’s might be not guilty only took the fire higher for his detractors. Yet, even that religious effort almost was not enough. Had Covid not intervened Trump likely would be in the middle of his second term as we speak.

While John Durham did not announce criminal charges, the political findings should be a irrevocable stain on the FBI, the Democrats, Hillary Clinton and their allies in media. Of course they won’t be. The purge succeeded brilliantly— a huge tranche of the public in the U.S. (and Canada) is still willfully clueless about the fraud thanks to a media that blames everything on FOX News. You can hear the believers crying to their TVs, “Rachel Maddow, I can’t quit you.” (Oddly, Carl Bernstein has gone AWOL.)

It was Veep meets Succession— punctuated by a howling media that shouted “The Walls Are Closing In” and “Blockbuster” since 2016. It’s hard to overstate the epic scope of this parade of venal, crass actors using the apparatus of government to strengthen their grasp on power. Russiagate makes Watergate look like Bonny and Clyde hitting up Dust Bowl banks.

Hours after Durham’s report went public, many of the principals who executed the fraud— like Andrew McCabe, Peter Strzok and John Brennan— were in their new guises as “correspondents” for MSNBC, CNN and the Big Three networks, ragging on the Report. Their point of attack was that Durham’s findings— findings they’d vehemently denied— were old news now that they’re confirmed. This was like Nixon allies John Ehrlichman and H.R. Haldeman parsing the Watergate burglars on Walter Cronkite’s network.

While many signs point to the abject corruption, nothing speaks more than the Pulitzer Prizes awarded to the New York Times, The Washington Post and their reporters for a story that is now entirely discredited. And the Pulitzer hacks refusing to rescind awards given to those who carried the fabrications to the public.

“How can the journalists who bit on all the Steele stories, the Alfa nonsense, Hamilton 68 — how do you all live with yourselves?” asked independent journalist Matt Taibbi. Easy. They’re too far gone after so much time, he continues. “We now know nothing punctures the national (Trump) madness. It’ll be the same with this report. The lunatic is on the grass, and nothing will coax him off.”

None of this has gotten down to Gerry Butts and the Canadian chattering class, of course. They’re as insatiably besotted as anyone yelling “Impeach Trump” down south. The cartoon figures created by their American media idols were passionately embraced by Canada’s media, too. Perhaps with even greater venom by those Canadians who need America Hate to feel whole every day. The stories on bleach, fine people, Alfa Bank, Michael Cohen, border walls etc. were recorded as acts of faith in Canadian newsrooms. And remain so today.

The Laurentian worthies have no idea what John Durham’s report says. Worse, they don’t care. Like the words to a song they learned at camp as ten years olds, the Russiagate Rhapsody will always be in their hearts, an undisturbed moment of happier days when getting stories wrong got you promotions and journalistic prizes. You see, it’s easy to do in Canada, where Mr. Butts’ protegé buys off the media and now empowers the CRTC disinformation czars to control the message.

What once was Canada’s modesty and trusting nature is now slack-jawed obeisance to American Woke folk. It’s sad. But Mr. Butts probably thinks it’s progress.

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Bruce Dowbiggin @dowbboy is the editor of Not The Public Broadcaster A two-time winner of the Gemini Award as Canada’s top television sports broadcaster, he’s a regular contributor to Sirius XM Canada Talks Ch. 167. Inexact Science: The Six Most Compelling Draft Years In NHL History, his new book with his son Evan, was voted the seventh-best professional hockey book of all time by bookauthority.org . His 2004 book Money Players was voted sixth best on the same list, and is available via http://brucedowbigginbooks.ca/book-personalaccount.aspx

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Bruce Dowbiggin

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BRUCE DOWBIGGIN Award-winning Author and Broadcaster Bruce Dowbiggin's career is unmatched in Canada for its diversity and breadth of experience . He is currently the editor and publisher of Not The Public Broadcaster website and is also a contributor to SiriusXM Canada Talks. His new book Cap In Hand was released in the fall of 2018. Bruce's career has included successful stints in television, radio and print. A two-time winner of the Gemini Award as Canada's top television sports broadcaster for his work with CBC-TV, Mr. Dowbiggin is also the best-selling author of "Money Players" (finalist for the 2004 National Business Book Award) and two new books-- Ice Storm: The Rise and Fall of the Greatest Vancouver Canucks Team Ever for Greystone Press and Grant Fuhr: Portrait of a Champion for Random House. His ground-breaking investigations into the life and times of Alan Eagleson led to his selection as the winner of the Gemini for Canada's top sportscaster in 1993 and again in 1996. This work earned him the reputation as one of Canada's top investigative journalists in any field. He was a featured columnist for the Calgary Herald (1998-2009) and the Globe & Mail (2009-2013) where his incisive style and wit on sports media and business won him many readers.

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If You Don’t Hear From Me, It’s Because I Don’t Hear From You.

Bruce Dowbiggin / 6 days ago

Celebrity Owners– Fun, Yes, But The Equity Is Even Better

Bruce Dowbiggin / 2 weeks ago

Buffett’s Sunny Escapism Masked The Decline In Biden’s America

Bruce Dowbiggin

If You Don’t Hear From Me, It’s Because I Don’t Hear From You.

Published on September 21, 2023

Bruce Dowbiggin

In his memoir, former BMO CEO Tony Comper recalled the press conference to announce a merger between two Japanese automobile corporations. Everything was going swimmingly until someone at the presser asked how long would it be before the two corporate cultures fully merged?

One of the CEOs replied without hesitation. “Forty-three years.”

Forty-three years? Why forty-three years? he was asked.

“Because that’s how long it will be until the executives who made this deal are all dead.”

Yes, there are stubborn business cultures. But there are also political cultures that persist against all efforts to convince them they are deluded. People find it hard to change their ways— particularly when they’ve defended them publicly for years. The New Left’s ironclad resistance to reason and debate is a feature, not a glitch. How to reach them in a friendly, inclusive manner?

Good luck. The Right’s challenge is thinking these people will respond to shame or being corrected. Can’t be done. Won’t be done. They’re like Japanese soldiers fighting WW II on a deserted island 25 years after armistice. They’ll die repeating the Donald Trump Bleach meme to themselves.

Marines help a Japanese soldier from a dugout on Tinian Island during the Fall of Tinian in World War II. He holds a cigarette the Leathernecks used to coax him out. (Photo by © CORBIS/Corbis via Getty Images)

This Gallup poll sheds light on how American (and Canadian) cultures can be blissfully unaware of some huge stories and obsessed by other narratives that fit their mindset. It shows that from 1972-2022 that GOP trust of media has plummeted from 41 percent to under 10 percent, while independents have gone from 53 percent to under 36 percent trust. IOW, their former favourite news sources don’t jive with their everyday reality.

But Democrats in the poll have vaulted from 64 percent to 76 percent in trust of media. Why? One reason probably lies with being told the narratives that please them. That give them comfort. These consumers allow legacy media’s fact checkers to sort out what they should know from “disinformation” without getting their hands dirty with the original story.

How pervasive was the scrubbing? The recent Missouri v. Biden recognized that federal government officials had been interfering with social media companies that digressed from the “accepted” line. An appeals court ordered them to stop. In another case, FBI was bribing reporters and scientists to change their opinions on the origin of the Covid-19 virus, sanitizing stories before they are doled out to the Woke.

“The Science” is supposed to be an ongoing vigorous debate with few settled laws. Yet, most cult scientists refuse debate, preferring to dismiss opponents as conspiracy nuts or— as they did with vaccines— dangers to society. When Al Gore allows himself to be cornered by questions, he rolls his eyes, sighs theatrically and asks his followers how anyone could deny The Science.

Gore’s climate apocalypse culture has morphed within a generation from the few fighting pollution to a global dogma of CO2 poisoning nature . Attempts to talk sense on carbon emission obsession, plastics prohibitions, aversion to the nuclear option, Greta Thunberg beatification have all proven futile in the face of an End Oil Now cult that makes Scientology look like the Boy Scouts.

It was the same for the #RussiaHoax, #FinePeopleHoax, #BleachHoax and now Hillary Clinton’s “real war on truth, facts, and reason”. These liberal road-tested canards persists to this day. Here’s Biden on a rare cogent day this summer repeating the #FinePeople hoax that has been debunked years before. Even the Washington Post has had enough, listing Biden’s Top 100 fabulist claims since becoming POTUS.

The latest cult cleansing is Biden’s patently false denial of any contact with son Hunter Biden’s Shakedown scheme. The denial is awarded first position beside #climateemergency on search engines and nightly newscasts. Famously, 51 former security directors and officials claimed, without evidence, that Hunter’s infamous laptop was Russian disinformation. Case closed, said MSNBC. No wonder so many consumers of legacy media in this echo chamber can blithely claim there is no substance to any of the Hunter stories documented by the competition and chronicled on his own hard drive.

The Canadian equivalent of denial culture came with the magic “cure-all” vaccines. Rather than publicly confront the Truckers Convoy on their refusal to take Covid-19 vaccines (which are now accepted as being flawed ), Trudeau hid in the Rideau Cottage calling truckers “an insult to science”. To make sure they never got a chance to question him he sent the cops after them, arrested them, suspended their civil liberties and finances and subjected them to show trials.

And he was supported by the purchased Canadian media who vilified the protesters— for lack of armed insurrection or rioting— for staying too long in their protest. Many promoted false stories of arson and foreign financing of the convoy. This media Trudeau then tried to reward with Bill C-18— designed to make Meta, Google and other large tech sources pay to prop up failing Canadian media. In response, Meta has blocked all news links in Canada and cancelled existing deals with Canadian news outlets. The blocked links cover both Canadian and foreign news in light of Bill C-18.

And the same newspaper lobby that largely gave him a free pass on declaring a national emergency now wants the $595 million “temporary” bailout to be extended with double the subsidies (seeking government tax credits equal to 35% of labour costs.) The bailout meant to aid transition to digital is now instead a Trudeau lifeline in the Toronto Star’s bankruptcy. In the meantime, writes Michael Geist, “investment in the publishing sector has ground to a halt, Canadians have lost access to news on social media, and small and independent media are particularly hard hit. Avoiding the Canadian outcome is a now a top policy priority in other countries looking at media legislation.”

All this as the federal government prepares an online hate speech law— hate to be defined by themselves.
Many are just hoping that a Liberal loss in the next election will cease the encircling madness. That sanity will prevail. But the Japanese car manufacturers are telling us not to get our hopes too high. Trudeau Nation is quite prepared to got to its grave before ever admitting its copious mistakes.

Bruce Dowbiggin

Celebrity Owners– Fun, Yes, But The Equity Is Even Better

Published on September 20, 2023

Bruce Dowbiggin

In case you hadn’t noticed. Celebrity Sports Ownership is all the rage. When the Ottawa Senators were for sale Ryan Reynolds, Snoop and The Weeknd were all mentioned among the bidders (that eventually went to Montreal businessman Michael Andlauer). LeBron James now holds a minority position with Liverpool FC.

Jay-Z owns part of the Brooklyn Nets, Usher a piece of the Cleveland Cavaliers while Fergie of Black Eyed Peas fame also partly owns the Miami Dolphins. Gloria and Emilio Estefan, Marc Anthony, and tennis superstars Serena and Venus Williams are owners of pro sports teams. Famously, Elton John owned Watford FC, although he’s now just an honorary chairman.

And, of course, Reynolds and Rob McElhenney used a documentary TV series that showed their Welsh Wrexham soccer team promoted to the FA’s League Two. What’s the attraction?

Clearly a little PR is always a good thing. But sports team ownership has also become a lucrative equity play. As BMO reports, “The average compound annual growth rate since the last purchase price… is 15 percent, a meaningful outperformance to the TSX and S&P. Forbes estimates the Toronto Blue Jays are currently worth US$2.1 billion or roughly C$2.85 billion.

Based on recent sports franchise transactions, expansion fees and annual estimations of franchise values by Forbes Magazine, an $8 billion enterprise value is easily defendable for the Jays’ owners MLSE (who also own the Maple Leafs, Toronto FC and Argonauts).”

It’s the same across the major pro sports leagues. The estimated average franchise value in the NFL since 2013 is $5.1B with a compound annual growth rate (CAGR) of 16 percent; in the NBA it is $2.9B with a CAGR of 18 percent. For MLB it is $2.3B with a CAGR of 12 percent; the NHL is $1.0B with a CAGR of 11 percent; while MLS is $0.6B with a CAGR 21%.

But, BMO cautions, owning a sports franchise is considered “an equity investment strategy rather than a cash flow or income play.” In other words, don’t think that ticket sales and hot dogs are going to make you rich. (Although the NHL’s salary cap, which guarantees owners’ profits is a sweet deal.) The key is sports media which is thriving despite the move to cord cutting..

Sports media rights contracts have grown in tandem with franchise valuations. Not to be ignored in the advertising growth and viewer interaction is the bear knowns as legalized sports betting. Betting companies are flooding the airwaves with commercials while bettors tune in to watch how their selections work out. The casinos and online shops have replaced lower-paying traditional advertisers who’ve dropped off.

In Canada, league or team ownership of broadcast properties is still common. For that reason the real value of those broadcast rights is often opaque. (We had some irritated pushback from Rogers and Bell for writing on this tidy arrangement in the mid 2010s, forcing some limited disclosures). Rogers Sportsnet and TSN own (via MLSE) own a stable of teams in MLB, NHL, CFL and MLS. Good luck finding out what they pay themselves for media rights.

It’s more open in the U.S. Since the New York Yankees pioneered the YES network in 2002— sparking multiple imitators in other markets—the move in the U.S. has been away from outright ownerships of regional sports networks. A number of RSNs in the U.S. are either in bankruptcy or nearing it. Digital and network sources are now absorbing these sources. ESPN, via its owner Disney, is looking to find partners for its many broadcast properties as their bottom line in general has suffered.

Still, ESPN’s legacy business generates revenue and operating income of approximately $12.5 billion and $4.0 billion in 2023. It remains to be seen what new model emerges in the U.S. to answer cord cutting and the death of conventional TV. The NFL’s experiment on Monday, having two MNF games compete on separate networks is one experiment.

In Canada’s monopolistic market, “TSN/RDS penetration rates have declined at a quicker pace than ESPN over the past 10 years. ESPN penetration has dropped from 81 percent of U.S. households in 2013 to 56 percent in 2022, while TSN/RDS penetration has decreased from 89% of Canadian households in 2013 to 49 percent in 2022.

In addition, BMO admits that cord cutting is a thing. “SportsNet subscribers have decreased -23 percent to 5.8 million over the same period. Subscriber and advertising revenues are 60 percent and 40 percent of total revenue, respectively. Since 2017, TSN revenues have increased 13 percent. TSN subscribers have decreased -29 percent to ~7.8 million over the same period.”

But! In the last five years, TSN and SN have increased advertising revenues by 13 percent and 15 percent respectively. The same figure for the top five Canadian non-sports channels (collectively) is six percent. Thank you legalized wagering in Ontario. So who wouldn’t want a piece of this action, especially in Canada?

The red flag in this surging equity market comes in the form of smaller Canadian NHL markets. The Senators sale for $950 suggests a healthy interest in owning, but the Sens sale was also tied into the new LeBreton Flats arena. Ownership or control of a Canadian arena means more than NHL games. It also includes revenue from concerts, rallies, monster-truck events etc.

Even with that can Andlauer produce a winner just two hours from the Montreal Canadiens market? Likewise, the Winnipeg Jets are desperately in need of a larger arena to replace the 15,321 Canada Life Centre. Having Canada’s richest man, David Thomson, as an owner is no guarantee of getting one. And should Thomson tire of being the saviour of a losing Jets hockey property, who in that market has C$1-2B lying around needed to fund the franchise properly?

Likewise, the Calgary Flames. Despite the political press conference this summer about as new agreement the arena that management promised by 2013 has still not seen a shovelful of dirt turned over. The latest gaffe was architect’s drawings for the rink being rejected by the NHL due to inadequate dressing-room space. Start again.

Should the rink not be available till 2025-26 will an evolving ownership group still be interested in shelling out the money to keep the Flames (and Stampeders, Roughnecks and Hitmen) operating in Calgary? And if they don’t, because losing sucks? While energy-rich Calgary has plenty of billionaires, few will want to risk the money needed to keep a competitive team in a small market.

Connor McDavid’s brilliance plasters over the same small-market crack in Edmonton. Yes, they have their new building, but can owner Darryl Katz fund the moves need to keep his stars and build a winner? Vancouver, owned by the Aqulini family, has a larger market base, but with Seattle Kraken just two hours away can they too write the cheques needed to create the first Stanley Cup winner since the Canucks entered the NHL in 1970.

If these Canadian markets do survive longterm it might have to be with foreign ownership. Certainly there is money to be made riding the equity train. But there also no guarantees that those carpetbagger owners might replicate the Montreal Expos and scoot to richer markets.