Nicole Sperling

YouTube is number one, and they are sixth.

If they combine with HBO and HBO Max, they'll be 9% of TV viewing.

That still puts them in this metric beneath Disney and all of their services, which that includes ESPN and Hulu and everything like that.

And basically at the same place as NBCUniversal, which counts both their

linear operations like NBC and also their cable operations too.

So that's the way they want the regulators to analyze this.

Whether or not that's the case that will be made remains to be seen.

Paramount, of course, as the rival bidder, is arguing that it is, of course, monopolistic and that it does present a big threat.

Yes, I think the theater would be in less danger in this arrangement.

They're steeped in the traditional theatrical business model.

They have said that they would release up to 30 movies a year, which is just all that the theaters want to hear.

That's what they want.

That helps with that cadence that Kyle was talking about.

But on the flip side, there's more redundancies between those two companies.

They're already laying off 4,000 to 5,000 employees.

There's only going to be more redundancies if they buy Warner Brothers, and there's going to be a lot more layoffs in that scenario as well.

So from an employment standpoint, at the studio level, you would expect a ton of people losing their jobs.

Consolidation isn't good enough.

In any scenario here, and people are going to be hurt, it's either on the creative community side or on the studio executive side.

There's just going to be a lot of changes.