Jennifer Huddleston

antitrust law is supposed to be based in the consumer welfare standard, which means what regulators should really be looking at is will this merger or acquisition harm consumers in some way?

Will it negatively impact prices?

Will it negatively impact the ability to have products?

to have a certain quality or certain other elements that really should be based on sound economic factors.

This shouldn't be about a subjective idea of how many players should be in the streaming market.

It should really be focused on this question of are consumers going to be harmed?

Are consumers going to be worse off if they have this combined company as opposed to two separate companies?

I mean, that's certainly going to be a question depending on the nature of any particular transaction.

And we've seen this happen in other cases when it comes to questions around large US tech companies and their potential acquisitions.

For example, we certainly saw a large debate around the Microsoft Activision acquisition in Europe as well.

And ultimately, that was able to go through.

We've also seen European regulators trying to put up various structural roadblocks that would allow some of America's leading tech companies to

to continue to innovate, to continue to go into new markets.

So I think it's certainly a worthy question of not only how might such transactions play out when it comes to U.S.

regulators, but if this is something that's a global international debate, are there other regulators where there might be other conversations that get had along the way?

I think one of the big questions is going to be around that market definition.

Is the market, the definition include markets for content creation?

And if so, what does that mean?

In this day and age where we have such significant amounts of user-generated content, is it only about studio-created content?

Or is it also about looking at content more holistically, the way short-form video or even long-form video on platforms works?