Ted Sarandos

This deal is not complicated at all.

It is $27.75 plus the value of Discovery Global.

By the way, it's the deal that they want.

It is the deal that they asked for.

These are the assets that were for sale.

So the more complex thing is buying the whole company.

When you do that, then you're buying these European sports networks.

As you know, sports rights in Europe are incredibly highly regulated, as is the television landscape, which they'd be stepping themselves into.

So I would argue that our deal is quite simple.

$27.75 per share plus the value of Discovery Global, which I think is an incredible asset.

And they do, too.

That's why they set the offer up this way.

That's why when we were bidding, we bid for the assets that were for sale.

No, as you know, the linear broadcast business is not something that we're interested in, but others are.

And I think when I look at the business, particularly those European networks, are not in decline the way they are in the U.S.

So it is not of our interest, but it's, I'm sure, of interest of many buyers.

Look, I have spoke to the president about the state of the entertainment industry.

We've had multiple conversations about how do we protect American jobs?

How do we keep the entertainment industry healthy?

What are those headwinds?