Ed Ludlow

Let's talk about that with Jennifer Lee from the antitrust team at Bloomberg Intelligence.

So there we heard perhaps an admission from the White House that he's looking at how competition is going to play out with whoever owns Warner Brothers Discovery, at least the streaming and the studio side of it.

Jen, I think it would really help the Mimotech audience understand the process a little bit.

Is it rules based?

So if there's an antitrust review on this, do they look at past precedents?

Do they look at a codified set of rules and say, OK, this either is or is not abusive market position?

Jennifer Rhee of Bloomberg Intelligence.

I suspect you will be back on Bloomberg Tech to talk about this very deal.

Thank you very much.

Let's continue the conversation with Rich Greenfield, partner at LightShed Partners, general partner at LightShed Ventures.

Jen had a lot of decent mathematics there, a mathematics and rules-based approach to what happens next.

Simple question for you to start, Rich.

What happens next?

You know, it is really anyone's guess.

You know, you've now got this hostile offer, tender offer from the Ellison's and from Paramount.

Obviously, shareholders are going to have to, you know, really look at this.

I mean, you've got, you know, the offers are very different, right?

One is for just the streaming and studios, and you're going to end up with a resulting stub equity that is the cable network piece.

And, you know, depending on how that's valued, it could be anywhere from, you know, a buck and a half to four or five dollars like a share.

And so it all depends on sort of how that trades ultimately.