Ted Sarandos

There is execution risk, all of those things.

But we are highly confident that we're going to bring this deal close and that we're going to successfully integrate the business.

And I think about it as the reason why we're all talking about these deals so much this week.

We've granted the seven-day window to get some clarity about the Paramount deal because Paramount has been out spreading a lot of misinformation to shareholders, into the markets, into regulators in ways that have run the narrative into a state of confusion.

We're trying to say, well, take seven days and get some clarity.

Because what we believe is, and what the Warner Brothers Discovery Board agrees with us on as well, is that our deal is the superior deal.

We believe it's good for them.

We know it's good for us.

And we are excited about getting it done.

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.