Lauren Hirsch

Shareholders can take the cash, put it in their pocket, and walk away.

Now, they can only do that if the deal closes.

So the other thing that Paramount is pushing really hard is regulatory certainty.

Larry Ellison, David's father, is close with Trump, and some people thought he may have helped them in successfully acquiring Paramount, which faced its own challenges.

So much like Netflix is going to say that you should be broadening the market with which you look at streaming, Paramount is going to argue you need to look at the evolution of the entertainment industry.

And it's now competing against big tech like Netflix, like Google, like Amazon.

And it needs to be bigger in order to compete with them.

So Paramount will say, yes, if we do this deal, we will be a very large studio.

But guess what?

Traditional studios are no longer the only ones making content.

So look at the competition in that perspective, not just among the traditional old line studios.

Well, to the extent that past is precedent, hostile bids more often do not work than they do.

Do not.

Do not.

So just based off that, I would put my metaphorical money on Netflix.