Julia Alexander

They don't have really any global owned and operated presence because all their streaming platforms are in conjunction and partnership with other

companies and other distribution platforms in order to kind of try and scale.

And TikTok, which was down apparently this weekend in its first US debut again, or re-debut, like whether or not TikTok has the staying power now versus whether people go over to Instagram or YouTube Shorts, like that question of who ends up winning that kind of short form battle, I think makes it really questionable.

But I agree with you.

I don't think someone

who clearly smart, as Larry Ellison, looks at a decaying asset in a decaying industry in a hyper-competitive attention ecosystem and goes like, yeah, this thing's worth $110 billion or whatever, $105, $106 billion cash.

And by the way, we're going to go to Warner Brothers Discovery shareholders and say, you're going to get a bigger payout, basically, and you should go with us and don't worry about the rest of this business because you're going to get paid out for it.

I don't see why he would do that unless there is something far more compelling within what the assets will help generate down the road that are not just pure engagement of people watching Michael Keaton's Batman.

Because the only other answer is like he's a dad with guilty father issues.

I agree.

I agree completely.

And I think it's a desperate attempt, especially in this kind of meta and Google age, just where it feels difficult to even try and compete at that scale.

And then again, looking at Netflix or even Disney, Disney streaming services have pretty strong engagement.

They've got active subscribers.

They've got a pretty active ad base and Disney famously very good at advertising.

Like they've just have a great ad business and,

And so if you're coming in this late to the game on a Hail Mary in hope that having enough movies and TV shows, enough sports, right?

They just paid $7.7 billion for UFC.

It just debuted on their platform on Saturday.

And you have enough overlap maybe with a TikTok.