Live TV Has Been Collapsing for a Decade. Why Hasn’t Football?

Americans watch far less TV than they did a decade ago. But they watch even more football.

Mitchell Rales, co-founder of Danaher Corp. and co-owner of the NFL's Washington Commanders, at the Economic Club of Washington in September.

Photographer: Annabelle Gordon/Bloomberg

Good evening from the nation’s capital. I am doing my best to take a week off for Thanksgiving, so this will be my last newsletter until December. That said, please reach out with any tips at lshaw31@bloomberg.net or via Signal.

Three things you need to know