Travis Hoium

This would add more IP to Disney.

That's what Disney does really well.

More stuff for their theme parks and more consumer goods.

Lou, does this make sense to you?

What about a company like Nintendo?

Again, that would be a much, much bigger deal, a whole different can of worms.

But one of the things that has been rumored about the new CEO at Disney is that he's going to lean more into things like gaming and maybe even spin off some of these non-core assets, whether it's the cable companies, whether it's the sports business, that's going to focus you more on IP, movies, games.

That's Nintendo's wheelhouse.

Anything there, John?

All right.

What about one of the legacy media companies that actually survived in the company that is trying to disrupt them?

I don't know exactly how well their business model is doing, but New York Times and Substack.

It seems like the direction of New York Times is to lean into these writers more.

They're bundling.

Substack doesn't really have much of a bundle.

But Lou, does this make any sense or am I barking up the wrong tree?

Yeah, the combination of different business models would probably be a challenge for the New York Times and Substack.

But I don't know.

You're right, John, that a lot of the breaking news is now not necessarily coming from the big media outlets anymore.

It's coming from these smaller producers.