Sean Callagy

And I know we told a lot of this story before, but maybe let's start there.

or half a step back from there, this is your job now, you're being brought in, you have an idea, or it's about to be your job, please, David, take us back.

Yeah, and I'll start with the point where there was a whole process that Sean and I discussed last time of where the idea came for the MCU.

Now the word universe, cinematic universe, is used a lot, but that didn't exist back then.

And the studios made the movies, and if you owned IP, you licensed it to the studios.

And they would spend the 200 million to make the movie, and they'd have full creative control, and they'd keep 98% of the profits.

Can I just make sure this is landing for everybody?

So David, am I hearing you correctly?

That what would happen is, and this was Spider-Man.

Yes, Spider-Man to Sony.

X-Men to Fox.

Yeah, and I guess this X-Men to Fox, and this would have also been, on the DC side, this would have been the original Batman movie.

I mean, DC wasn't making the Batman movie, am I correct or not correct?

DC in the Darklight trilogy, they did make the movie.

I mean, going back to Michael Keaton, the original movie, was that a licensed product?

No, no.

Because Warner Brothers owns DC.

Got it, understood.

So they were... Now Marvel, I sold to Disney, so it's similar to where DC was with Warner Brothers.

The capabilities and capital were there.