We can talk about the vision and the proposition, and the technology in a moment, John. But I am interested as to what is so much the shares are selling off, and why perhaps these non-voting shareholders don't like it, don't buy it. I think it will go through. Well, there's all this uncertainty still. It's been such a messy deal getting across the finish line, and there's still the chance of another party coming in. They've got a shopping period where, you know, who knows, Barry Diller could jump in, in a word. Edgar Bronfman is said to be interested also. So uncertainty always causes that sort of phenomenon. And they've got to make sure investors have to make sure that this is actually going to happen. Okay. So we continue to question whether regulatory it will go through, and ultimately whether we'll get the deal done, John. But if the deal does get done. What are the positives from your

perspective?
We go to you with your keen eye on what technology can do for the media
industry. Well, everybody's talking about David
Ellison, but let's not forget Jeff Schell, who is a phenomenal operator, is
going to come in and get his hands on the moving parts of this business.
And he's he's just first rate. And so, you know, in terms of the
blocking and tackling stuff, the operational initiatives and efforts that
that have to go into it, they've got they've got a fantastic operator there.
And then in Ellison, they've got a visionary and enthusiastic owner, which
is always a huge plus because it means that, you know, help put effort and
money into things. He Ellison talked today about
re-emphasizing their core competency in storytelling and he also talked about
bringing them up to speed on technology. So those are two worthwhile goals.
But when you talk about storytelling

today, you've got to be looking at
YouTube. YouTube has changed the definition of
what powerful storytelling is because hundreds of millions of people a week
come there and they watch short form video that they love.
And as Lucas was just saying, Ellison has made his name with the with the the
premium blockbuster type titles. And it's going to require a shift in
mindset to understand that even if you're in the movie business, you can't
ignore the fact that YouTube is watched by far more people than watching
anything else anywhere. And so that's going to be a mindset
challenge for them tomorrow. It's not impossible to achieve, but
that's a challenge. So what do they do with the 8 billion
that they're getting paramount to emulate that YouTube success?
Well, you know, he talked about technology.
And when you talk about technology, you're talking about direct to consumer.
That is what dominates all media today, whether you're making Hollywood
blockbusters, most of which are watched

on a small screen in your home.
And technology means A.I., and it means direct to consumer.
And those fit together. The air of it all also impacts the
storytelling because you can do more different, less expensive programming
using A.I. now.
And that's only going to become even more powerful by next week, let alone
next year when this deal finally comes through.
So he'll be looking for cost savings. They've already said they're going to
shake out $2 billion in synergies, and then they're going to put money behind
some sort of content initiatives powered by technology.
That would be a smart thing to do. I mean, having run an AI platform that
Apple acquired. You know, there's there's a lot of
complexity in A.I., but there's a lot of upside with it as well.

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