Maggie Eastland

But if they collapse, the thinking is they would collapse Netflix and HBO Max.

Great.

But what happens to the price?

The consumer is going to get a much higher price if you add those two things together.

So it's simpler.

But really, monopoly policy isn't based on simplicity versus complexity.

It's based on the price to the consumer.

and consumer welfare.

And price is part of consumer welfare.

Actually, simplicity is not in the laws as a driving factor, but price is.

And price would go up for consumers if they combine those two assets, I think.

I don't worry about a stronger competitor coming out of it because we already went through an incredible transformation in 2019 as Disney integrated the entertainment assets of Fox.