John Malone has been at the center of the media industry for 50 years as the architect of a cable and broadband ecosystem that defined the way Americans consume media for generations.

With that world undergoing great change, the 82-year-old Malone has some definite thoughts about where things are headed.

And if you need a reason to listen, consider this.

One dollar invested with Malone in 1973 would be worth 3,750 today.

He joined me from Liberty Media's headquarters in Colorado.

Well, a year ago we talked, and you were not a believer necessarily in the ad-supported

streaming tiers as much.

I am not on entertainment, okay?

Because I think most people feel that the big breakthrough of Netflix was no ads.

So you notice Netflix is not getting a huge take-up of save a

couple bucks and take ads. Now, Amazon right now on Prime is thinking about going the other way,

put ads in everything, right? Because they're building a big ad business. They already have

an enormous ad business. Netflix tried to outsource their ad business to Microsoft, and so far I don't think it's created any big buzz.

So you have an Amazon monster.

But I think the question you and your viewers have to focus on is the distinction between library entertainment services and live, whether

it's sports or news or other kind of talk shows, things that are like you, okay? Financial

news, live, real time, okay? Completely necessary at all times, John. Live. Real time.

Completely necessary at all times, John. Yes.

Well, here you have a real anomaly, okay, because when it comes to live, which has really always been the backbone of broadcast.

And broadcast continues to survive, but under real pressure as big tech competes for sports,

so whether the economics of sports continuing to drive broadcast, the anomaly is that network neutrality, the government policy,

creates this crazy world in which Amazon can go by Thursday night football

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