Rohan Goswami

Because on the one hand, you have Republicans who are traditionally averse to big tech and averse to big tech getting bigger.

Those guys have been the conventional boogeymen for them.

But here you have a big tech company buying a legacy media company to compete, they say, with other big tech companies to be more competitive against them.

So if you are anti-big tech, weirdly, you might want to be pro this deal if you're

Anti-media or anti legacy media you still might be pro this deal because you're leaving behind a weaker Smaller CNN that gets eaten up by Apollo or maybe paramount.

We don't know There are all sorts of muddy things here.

And so that's what makes the ideological analysis a little bit harder It's also hard to say what they actually feel and what they believe because again, they know that their opinion doesn't really matter There's one guy whose opinion matters and he's big and he's orange and he's the White House

The hearing itself, no, but it's an important sort of symbolic gesture.

It lays out in the public record Ted Sarandos, and for whatever we care about it, four or five years from now, Warner Brothers thinking on this deal.

These kinds of things can sometimes become prescient where you look back 20 years later and you see, oh my gosh, Ted Sarandos was right all along.

We are, in fact, watching all of our movies and TV in 30-second snippets on Instagram and TikTok.

I don't know if that will come true or not, but they can serve as an important historical artifact.

Whether it actually matters to the process, I don't really know.

It's kind of the same arguments that Ted Sarandos has been making privately, right, in his one-on-one meetings or in his team's one-on-one meetings, and publicly.

They're the same thing.

I'll try my hardest, Ted.

Thanks so much.

Ed, happy to be here.

So, look, they did beat on both those fronts, and they guided to around their midpoint for the full year next year.

And they also had, you know, a decent subscriber number, 325 million.