Caroline Hyde

And this deal does nothing to address that.

They could have spent far less money and bought a creator studio that could very well have a much larger impact moving forward than gaining some really great titles.

I mean, the IP of Harry Potter and Friends, that alone is worth a lot of money to them.

I don't think the market has grasped the tidal wave that is being unleashed, even as we speak, and is only going to grow thanks to AI, which puts more tools into the hands of more creators.

And so I think there's going to be a reckoning at some point, not this week, not maybe this year, over the next 12 months, but that's what's happening in the entertainment industry.

So this could end up being looked upon as one of the last great

old media deals.

And it's ironic to call Netflix old media.

And I'm not saying they're blind to the challenge of YouTube or the creator opportunity, but it's placing a value on something that used to have a lot more value than it is going to have moving forward.

John, what's so great about you is because you're building Hang, which is all about Gen Z interacting with brands, because you built an AI business that you sold to Apple, you are in the new media, but you also did help run CBS and CNN.

What does it mean for TNT, for CNN?

What does even that part of the business have value?

Do you think it has $2 value or in excess of?

Was it a miss, therefore, for Paramount Skydance?

I would be shocked if David Zaslav is not working the phones this morning drumming up buyers for that entity that he's going to spin off.

He's been masterful at discerning what parts of his empire are valuable to whom.

And there is still value in those linear networks, let's say to Aversant, which just spun off its linear, or is about to be officially spun off from NBC.

Sinclair and Nexstar, the massive and growing local broadcasters, might be interested in becoming both, right?

So there are potential buyers out there.

And David Zasav may have just figured, look, actually, the sum of the parts