Matt Belloni

Or make it a tile on each on Netflix where you go to Netflix and there's a little box that says you love HBO.

Click everything you'd ever want to watch on HBO.

That's one scenario.

What Netflix is telling people is that they would operate them separately.

and that there would be an HBO Max service, there will be a Netflix service.

Maybe they have the same backend, maybe they don't, but that the brands and services would remain separate.

I don't know if I believe that.

That's the kind of thing you say if you are trying to win regulatory approval of your big merger.

But, you know, the goal of buying this is not to buy HBO Max necessarily.

The goal is to suck up all of those Warner Brothers franchise movies.

I mean, Netflix would own Batman.

They would own Wonder Woman.

They would own Minecraft.

All of these big franchises would become Netflix movies.

And maybe they put some of them in theaters.

Maybe they don't.

Maybe they do it for a couple of years just so everyone gets off their back.

And Ted Sarandos can be a hero around town for releasing movies.

But then maybe they backslide.

I mean, that's the goal.