Pablo Torre

All right.

In an earlier statement, I mentioned the word proxy fight because I've been trying to get us to the actual story that you're here to talk about.

Paramount, Skydance, suing Warner Brothers Discovery.

They're now seeking to force WBD to disclose financial details of its $83 billion deal with Netflix.

You may recall Netflix being the winner of the derby to get Warner Brothers and its assets.

David...

Please define what proxy fight is, because I want to understand what kind of a fight we're talking about.

But this is this is the question that I have, which is, I think, at the root of the disagreement, which is how do you value things?

Right.

So it's not merely a line item that says, oh, that's the number of dollars.

It's ostensibly a longer term strategy that will transcend, by the way, if this administration ever does.

you know, accepts its term limit, will transcend President Donald Trump.

And so the question then, David, when you're talking about what is equal, it speaks to what does the relevant party here in this proxy fight, the board, how do they think about this?

Like, what calculations are they actually making?

I remember trying to figure out what would the threshold be beyond which I had to say yes because the money was so clearly the superior offer.

I like to think that I would not have.

Oh, my God.

That is such ridiculousness.

Oh, no, I wouldn't.

Wait, hold on.