Sports Business Journal takes an in-depth look at ESPN, and what has sparked a PowerPoint presentation making the rounds in league offices and among ad buyers for the past six months. Distributed by multiple networks, the full-color presentation, titled "The Emperor's New Clothes: How ESPN's Multi-Platform Strategy Hasn't Improved Ratings," uses a series of bar graphs to bash everything about ESPN. It describes ESPN's strategy as misconceived. It calls ESPN's marketing machine a myth. It says that a sports property's TV ratings consistently decline on ABC and ESPN. ESPN, for its part, criticizes the report's focus on TV ratings as myopic, and its top executives lampoon rivals that look only at TV windows and ignore the larger digital universe.