Ted Sarandos

Warner Brothers Discovery announced today that it is putting itself up for sale.

Paramount Skydance is challenging Netflix with their own offer to purchase.

Mr. Sarandos, we'll start with you.

And please begin with your opening statement.

Thank you, Chairman Lee, ranking member Booker.

Also in this podcast... The best thing for our business is if people love movies and television.

And the best way you love movies is to watch them at home, in the theatres, wherever you want to watch them.

The reason why you would do a Netflix deal versus the Sperma deal, our deal is growth.

We've been growing and growing and growing this business since we started.

Like in the UK, we've spent $6 billion on original programming in the UK since 2020.

We have created 50,000 jobs in this economy.

So in the other model, in the Paramount model, it's the classic horizontal media mergers that are always bad for consumers, always bad for creators, because basically what they're just taking is two studios and collapsing them to one.

There's five major studios left in Hollywood.

If the Paramount deal were to go through, it would be four.

You may have heard some strong and offensive language tonight.

If you've seen the film, I swear you will know

That film is about the experience of a person with Tourette's syndrome.

Tourette's syndrome is a disability and the tics you've heard tonight are involuntary, which means the person who has Tourette's syndrome has no control over their language.

We apologise if you were offended.

I think in the alternative, this guy has gone, you know, missed every deadline.