Lauren Hirsch

And now it's acquiring an HBO, another streamer.

If you look, just a little pocket, red flags all over the place.

Netflix is arguing that's the wrong way to be looking at it.

They'd say, when you're thinking about what to do tonight, where you're going to watch content, you're not thinking, which streamer am I going to watch?

You're thinking, what am I going to consume?

That could be TV on the cable.

That could be TikTok.

That could be YouTube.

That is all different kinds of things.

So it's saying that regulators, when they're looking at control of the market, should be thinking about that backdrop, not just streaming.

It has two main arguments, cash and certainty.

So the bid they put out today is $30 in cash.

The hostile takeover.

The hostile takeover, $30 to shareholders.

It's clean.

It's money.

You can put it in your pocket, be done with it.

So Netflix is using some stock.

So there's less uncertainty.

You don't need to worry about whether or not Paramount's shares go up or down or how the deal performs after it closes.