Rich Greenfield

100%.

Which is very competitive.

And that's like you laying off two employees, just to be clear, on an analogy basis, right?

Like...

They did not lay off like, you know, it's not like Meadow, right?

Meadow is talking about laying off 10 percent of the company.

This was not a 10 percent layoff.

So they probably could do 10x that pretty easily at Disney and no one would know.

I mean, I would feel bad for those employees.

But the point is, all of these media companies have accumulated far too many employees over the years.

That's part of the huge opportunity facing, you know, David Ellison as he acquires Warner Brothers, right?

It's just tons of duplicative employees and lots of middle layers of management.

I think for Josh tomorrow, this is a great first step.

I mean, it's showing you he's willing to make moves.

I think the bigger move that everyone has their eyes on is what is the right structure for Disney?

Does Disney need to be in the linear TV business?

You know, that...

While at the end of the day, Paramount is buying all of Warner Brothers, the big unlock that set off this bidding war was being willing to separate out linear television.

Obviously, you saw that is what Versant and NBC did.

I think the big question is, is Disney's ABC and ESPN.