Rachel Warren

I think they are rolling out all of these different products, some of which are, I think, quite familiar to us, right?

A search engine is nothing new.

And I think they're trying to see if they can make it better and if consumers want that.

And that's still we don't know.

I mean, it's possible.

Honestly, I think if we're looking at this, this speaks a lot more to kind of the consolidation of the media industry among some of the few big players.

I kind of look at Warner Brothers Discovery and I tend to think they're better as part of a bigger entity than two separate public companies.

But it is kind of interesting to think about.

A major acquisition could really reshape the media landscape.

And as you noted, Netflix, they've said, oh, we're not interested in the legacy assets, but could they be interested in the remainder of the business?

There is, I think, a strong case for that.

I mean, Comcast would face some potential really high antitrust hurdles, but they've been seen as a really strong possible contender.

I think also one has to recognize any kind of potential deal that would involve an acquisition versus the split of Warner Brothers Discovery would

that's probably going to attract scrutiny from the U.S.

government.

There's going to be a lot of competition and antitrust concerns.

So if, in fact, this goes the route of an acquisition, I think this is going to be a much longer-term story than we would have expected if, in fact, the companies just split into two public entities.

And who's going to want to pay that much for those assets when they are dwindling, as we see right now?

That's also a question.