Lucas Shaw

We've seen this happen a few times already, and it hasn't really worked.

AT&T bought Time Warner, then Time Warner, or what was Time Warner, merged with Discovery to create Warner Brothers Discovery.

Now we're taking a third crack at it, right?

Paramount and Skydance as a result of the merger of CBS Viacom and then Paramount and Skydance.

And so we keep having these legacy media companies get together with the hope that they will then have the scale to compete.

We've seen this happen a few times already, and it hasn't really worked.

AT&T bought Time Warner, then Time Warner, or what was Time Warner, merged with Discovery to create Warner Brothers Discovery.

Now we're taking a third crack at it, right?

Paramount and Skydance as a result of the merger of CBS Viacom and then Paramount and Skydance.

And so we keep having these legacy media companies get together with the hope that they will then have the scale to compete.

We've seen this happen a few times already, and it hasn't really worked.

AT&T bought Time Warner, then Time Warner, or what was Time Warner, merged with Discovery to create Warner Brothers Discovery.

Now we're taking a third crack at it, right?

Paramount and Skydance as a result of the merger of CBS Viacom and then Paramount and Skydance.

And so we keep having these legacy media companies get together with the hope that they will then have the scale to compete.

I believe that it's important to have that clarity.

I think it's important that the Warner Brothers Discovery shareholders deserve to have that certainty and clarity about this deal.

Now, your stock is down more than 30% since you announced this deal.

So you feel good about it.

Your shareholders, it's a little less clear.