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Speaker 1: Bloomberg Audio Studios, podcasts, radio News. You're listening to the

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Speaker 1: Bloomberg Intelligence podcast. Catch us live weekdays at ten am.

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Speaker 1: He's done on Apple, Cocklay and Android Auto with the

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Speaker 1: Bloomberg Business app. Listen on demand wherever you get your podcasts,

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Speaker 1: or watch us live on YouTube.

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Speaker 2: Perhaps there's going to be peace talks of a different

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Speaker 2: kind in Washington as well, because Anthropics CEO Dario Amuday

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Speaker 2: is meeting with Susie Wiles, the Chief of Staff of

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Speaker 2: the White House today, and of course there's a lot

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Speaker 2: of tension between the US government, the executive branch, and Anthropic,

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Speaker 2: the AI startup AI monster. At this point, I feel

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Speaker 2: like startup kind of undersells it. Let's bring in Jake

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Speaker 2: Bleiberg right now. He is Bloomberg News's cybersecurity reporter and

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Speaker 2: he's been talking to us and he's been doing a

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Speaker 2: lot of reporting on what the White House is doing.

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Speaker 2: When it comes to Anthropics' latest AI model, myth or

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Speaker 2: Mythos as less total lexus is very good.

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Speaker 3: I approve methos.

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Speaker 2: Okay, Jake, it's official. It's Mythos, not Mythos. Tell us

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Speaker 2: a little bit about the backstory here of Mythos because

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Speaker 2: it's the latest AI model. It's very powerful for ananthropic,

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Speaker 2: but Anthropic it also has a testy relationship with this

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Speaker 2: White House.

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Speaker 4: That's all right, So Mythos is this model released by

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Speaker 4: Anthropic not to the public, but we learned about it

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Speaker 4: publicly a couple of weeks ago when the company gave

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Speaker 4: a select group of government organizations and banks and cybersecurity

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Speaker 4: firms sort of special, tightly held access to it because

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Speaker 4: the company believes it's this enormous threat and has sort

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Speaker 4: of vastly more ability to find holes in computer systems

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Speaker 4: that might let hackers get in and do malicious things.

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Speaker 5: If they're limiting access, why are they allowing the government

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Speaker 5: to have.

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Speaker 4: Well, we're not actually sure at this point just how

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Speaker 4: much access the government has, but what we do know

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Speaker 4: is sort of getting at the tension you raised earlier.

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Speaker 4: There are a bunch of government agencies that are sort

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Speaker 4: of eager to get their hands on it, and top

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Speaker 4: government officials, the Secretary of the Treasury Chairman Jerome Palell

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Speaker 4: at the FED, they've been urging banks and financial sector

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Speaker 4: organizations to use this tool to plug their own holes,

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Speaker 4: and that seems to be out of a worry that

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Speaker 4: once this type of tool is out there in the public,

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Speaker 4: those might become vulnerabilities.

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Speaker 2: So they want them to kind of stress test their

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Speaker 2: own systems using meet those before Methos is released to

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Speaker 2: the public. What does that mean for this meeting that

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Speaker 2: Anthropics CEO is scheduled to hold with Susie Wiles, the

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Speaker 2: Chief of Staff today. Where what is the relationship right

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Speaker 2: now between the White House and the company at large?

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Speaker 2: Because government agencies are at least some of them want

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Speaker 2: to use this model, but the Pentagon has black listed Anthropic.

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Speaker 4: It's it's a great question, and it's a it's a

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Speaker 4: little confusing. On the one hand, we have sort of

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Speaker 4: top administrations in the officials and the Trump administration saying

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Speaker 4: this company is a supply chain risk and they've been

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Speaker 4: doing that as part of this dispute with the Pentagon

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Speaker 4: over concerns about the artificial intelligence being used in surveillance

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Speaker 4: or the targeting of weapons. On the other hand, we

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Speaker 4: have top officials and the Trump administration also saying this

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Speaker 4: is such a powerful tool. Hey, you banks, financial sector,

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Speaker 4: we need you to use this. And this email that

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Speaker 4: we got yesterday my reporting colleague Margie Murphy and I

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Speaker 4: actually says the federal Chief Information Officer is working on

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Speaker 4: building guardrails, you know, technical guard rails, so that the

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Speaker 4: top cabinet level agencies and the government could begin.

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Speaker 6: Using this tool.

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Speaker 4: So it's it's a little bit confusing going into this meeting, right,

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Speaker 4: Maybe a.

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Speaker 5: Little cynical here, but it seems like individuals, consumers, corporations

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Speaker 5: trying to figure out what AI is, how I use it,

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Speaker 5: all that kind of stuff. I don't have a lot

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Speaker 5: of confidence that my federal government is going to do

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Speaker 5: a good job with AI here. How to what extent

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Speaker 5: do we know that the various government agencies are trying

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Speaker 5: to incorporate AI into their workflows.

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Speaker 4: I mean, I think we've seen massive efforts across the

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Speaker 4: federal government, as we have in many different industries across

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Speaker 4: the private sector to build AI into their workflows. This

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Speaker 4: tool is a little different, or at least we think

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Speaker 4: it's a little different based on what we've heard from

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Speaker 4: the limited number of people and organizations using it, in

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Speaker 4: that it poses risks of a type that we haven't

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Speaker 4: really seen taken this seriously before. We've been talking to

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Speaker 4: people who are using it, and one of that is

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Speaker 4: okay AI used to be able to do the digital

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Speaker 4: equivalent of picking a law. Well, now now it can

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Speaker 4: pull off oceans eleven right now it's doing full hest.

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Speaker 3: Oh I like that analogy.

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Speaker 5: I'm gonna steal it, by the way.

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Speaker 2: Okay, So the capabilities it has is kind of a

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Speaker 2: different order of magnitude than what we've seen so far.

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Speaker 3: What kind of AI does the federal government use? Right now?

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Speaker 3: What do we know in terms of the application.

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Speaker 4: So different parts of the federal government use all sorts

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Speaker 4: of AI tools, including chat, GBT or you know, the

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Speaker 4: same types of large language models.

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Speaker 6: You or your colleagues, or.

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Speaker 4: Many people in many different sectors might consult to find

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Speaker 4: a quick answer to a question, or you know, look

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Speaker 4: up where they should stay in a trip.

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Speaker 3: Stay with us. More from Bloomberg Intelligence coming up after this.

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Speaker 1: You're listening to the Bloomberg Intelligence podcast. Catch us live

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Speaker 1: weekdays at ten am Eastern on Apple, Cocklay and Android

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Speaker 1: Auto with the Bloomberg Business app. Listen on demand wherever

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Speaker 1: you get your podcasts, or watch us live on YouTube.

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Speaker 2: And we want to go back and talk a little

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Speaker 2: bit more about Netflix, because even though it didn't raise

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Speaker 2: its forecast for this quarter, the numbers show that it

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Speaker 2: is definitely making more money on existing subscribers than it

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Speaker 2: had been. That's according to the company itself. They said

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Speaker 2: customer retention has improved in every region in the first quarter,

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Speaker 2: and we know they raise subscription prices in June as well.

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Speaker 2: Mark Douglass is president and CEO of Mountain and he

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Speaker 2: joins us now for some more analysis on Netflix and Mark.

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Speaker 2: Netflix no longer really pushes the subscriber growth numbers. It's

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Speaker 2: not even a figure that they released to investors anymore.

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Speaker 2: It's all about making more money from your existing base

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Speaker 2: of users. So what do we know about how much

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Speaker 2: Netflix can extract from its subscribers.

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Speaker 7: Yeah, so I think that's the right way for them

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Speaker 7: to look at and for everyone to look at. Is

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Speaker 7: just monetization. And so the way to think about it

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Speaker 7: is that you have subscription pricing for all Netflix users.

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Speaker 7: But I think they've announced in the past half of

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Speaker 7: the new users are signing up for an ad supported tier.

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Speaker 7: The numbers you typically think of when there's ad supported

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Speaker 7: content for any network is that you can make somewhere

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Speaker 7: between seven dollars or as much as fourteen dollars additional

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Speaker 7: revenue per subscriber through ad supported tier. This is even

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Speaker 7: and those numbers kind of originating cable television, but they've

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Speaker 7: carried over into streaming and so where in cable sometimes

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Speaker 7: networks are part of a bundle, but then they also

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Speaker 7: were showing ads. Now you're part of a subscription, but

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Speaker 7: there's also showing ads. So there's a lot of room

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Speaker 7: to grow. Netflix is currently undermonetizing those users, meaning the

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Speaker 7: people signing up for.

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Speaker 6: The ad supported tier.

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Speaker 7: So that is just a backlog of revenue that is

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Speaker 7: coming and it's going to be coming for many years

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Speaker 7: to come. I've said in the past I think Netflix

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Speaker 7: could be the first trillion dollar media company in terms

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Speaker 7: of market cap, be costs of the ads.

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Speaker 5: Mark you're yea your company Mountain. You guys are right

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Speaker 5: smack in the middle of all this digital advertising, television advertising.

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Speaker 5: You know where the dollars go here. Yeah, for Netflix

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Speaker 5: to really become a player in advertising, do they need

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Speaker 5: a big sports franchise.

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Speaker 7: I don't think they need a big sports franchise, mainly

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Speaker 7: because I think sports is important. But Netflix, because they

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Speaker 7: own this slot as like the first place the majority

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Speaker 7: of streaming consumers go to, Like you turn on your

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Speaker 7: TV and you kind of like, let me see what's

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Speaker 7: on Netflix. They're able to turn things like WWE or

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Speaker 7: a normal NFL game into these big events they turn

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Speaker 7: you know, I think we talked once before about the

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Speaker 7: largest female professional boxing match was streamed on Netflix and

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Speaker 7: things like that. So they've been able to basically take

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Speaker 7: not these kind of like NBA contracts and things like that,

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Speaker 7: but take other types of sports tournaments to things that

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Speaker 7: are very attractive to consumers and then monetize from there.

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Speaker 7: But sports is important, just not like having an NFL

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Speaker 7: contract but you know, for a whole season, or an

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Speaker 7: MBA contract for a whole season.

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Speaker 2: Market strikes me that a subscriber to the ad tier

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Speaker 2: is probably more valuable than a subscriber who opts for

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Speaker 2: the advertising free tier. So how would Netflix convince a

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Speaker 2: Pall Sweeney or Scarlet Food to convert and to downgrade

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Speaker 2: to that ad supported tier.

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Speaker 7: From a subscriber perspective, I think that's going to be hard.

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Speaker 7: I mean, I think it's pretty binary. You either want

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Speaker 7: to pay for the full subscription or you don't, and

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Speaker 7: the people paying the full subscription I don't think are

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Speaker 7: price sensive. If Netflix is thinking, well, you're worth another

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Speaker 7: in terms of revenue seven dollars if you're in the

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Speaker 7: ad supported tier, well, that'll just be in your subscription costs,

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Speaker 7: maybe a little bit discounted. But I don't think that's critical,

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Speaker 7: especially when one out of two new subscribers are signing

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Speaker 7: out for the ads tiers now, So it's not really

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Speaker 7: I think that critical to convince everyone to do that

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Speaker 7: when you're at fifty percent already.

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Speaker 5: So our good friends at mathat Nathanson were out with

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Speaker 5: the research report a couple of months ago where they

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Speaker 5: did some work, and their work indicates that YouTube is

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Speaker 5: actually the biggest media company in the world by value.

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Speaker 5: What is your view of YouTube in this marketplace?

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Speaker 6: They're so big?

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Speaker 5: Do they still have room to grow? They're so big

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Speaker 5: in the business?

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Speaker 6: Yeah, I think absolutely so.

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Speaker 7: The way I think of YouTube versus the entire rest

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Speaker 7: of the streaming market. But let's continue in Netflix is

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Speaker 7: YouTube kind of owns the day and Netflix and other

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Speaker 7: media companies own the night, right like you, I don't

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Speaker 7: think most people go home at eight o'clock and nine

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Speaker 7: like let me put on a podcast, Like they want

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Speaker 7: to watch their favorite shows across whatever networks they are.

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Speaker 7: But during the middle of the day when they're if

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Speaker 7: they're driving the work, if they're on the subway or

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Speaker 7: things like that, You're going to tend to not be

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Speaker 7: watching a favorite show while he's sitting on in a

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Speaker 7: subway car in New York City. So I mean it's divided.

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Speaker 7: Consumers want to be entertained essentially twenty four hours a day.

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Speaker 7: Their choices are streaming at any time, but I think

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Speaker 7: generally at night youtubees, Instagram, TikTok, and they're not in

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Speaker 7: conflict with each other. I think the streaming industry is

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Speaker 7: very healthy, growing and owns the highest form of entertainment

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Speaker 7: with consumers and the ones that they like most talk about,

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Speaker 7: most look forward to. And that's why you're able to

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Speaker 7: monetize these at these levels and subscriptions at these levels

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Speaker 7: is because of it.

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Speaker 5: Stay with us more from Bloomberg Intelligence coming up after this.

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Speaker 1: You're listening to the Bloomberg Intelligence podcast. Catch us live

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Speaker 1: weekdays at ten am Eastern on Applecarclay, and Android Auto

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Speaker 1: with the Bloomberg Business app. Listen on demand wherever you

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Speaker 1: get your podcasts, or watch us live on YouTube right now.

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Speaker 2: The story also includes Netflix boosting spending on programming this year,

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Speaker 2: especially live sports programming, things like the World Baseball Classic

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Speaker 2: really paid off for them this past quarter, and they're

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Speaker 2: in talks to expand the relationship with the NFL as well.

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Speaker 2: Randall Williams is our Bloomberg Business of Sports reporter Randall

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Speaker 2: How big a player is Netflix in live sports rights?

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Speaker 6: Do you think there's big of a player as they

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Speaker 6: want to be.

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Speaker 8: If they would like to get into sports broadcasting and

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Speaker 8: having exclusive things, then I think that they will be

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Speaker 8: a huge factor. But right now they've been very selective.

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Speaker 8: They've done a lot of boxing things. As you said,

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Speaker 8: they've been more involved in MLB, but their strategy thus

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Speaker 8: far has been event focused, and in the NFL in particular,

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Speaker 8: there's few events like the NFL. I think is try

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Speaker 8: to make big events. So you think Thanksgiving, you think

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Speaker 8: Kickoff Day, you think the Christmas Day game, and then

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Speaker 8: of course NFL playoffs. But there are also other bidders

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Speaker 8: and Netflix hasn't I think, dove into the process of

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Speaker 8: trying to win a Thanksgiving Day game. They have Christmas

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Speaker 8: and Christmas has been great, but it's a lot better

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Speaker 8: than Beyonce's performing.

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Speaker 5: I'll think they're serious when they go bid for a

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Speaker 5: Sunday afternoon NFL package.

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Speaker 6: That's going to be the day.

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Speaker 5: I'm going to ask you something else, Okay, because I

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Speaker 5: think for me at least and for a lot of people,

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Speaker 5: one of the bigger stories in sports in the last twenty.

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Speaker 9: Four hours is Live Golf, absolutely, and there's some of

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Speaker 9: the reporting. I'm surprised that we haven't heard anything definitive,

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Speaker 9: but generally some of the reporting is perhaps the Saudi

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Speaker 9: Arabian Fund is going to pull back its economic support

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Speaker 9: for LIV and if that's the.

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Speaker 5: Case, people wonder whether it can continue at all.

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Speaker 8: Yeah, that's what's been what we've reported, what everybody else

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Speaker 8: has been reporting. You know, there was suspected that an

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Speaker 8: announcement could come yesterday and then nothing came, and then

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Speaker 8: Live Golf CEO Scott O'Neill said earlier this week that

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Speaker 8: they're funded through the end of the year and we'll

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Speaker 8: see what happens next year. And so it sounds like

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Speaker 8: based on that that the funding will be pulled. It's

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Speaker 8: not a matter of if, it's just a matter of

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Speaker 8: when and then whoever, whether that be Scott himself, an

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Speaker 8: investment bank, private equity will have to go out and

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Speaker 8: find more money to keep this tour life.

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Speaker 2: What happened to the players who went over to live golf,

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Speaker 2: signed would live golf and then were essentially it feels

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Speaker 2: like they're blackball from the PGA Tour. What happens to them,

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Speaker 2: what happens to their careers?

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Speaker 6: They're going to have a decision to make.

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Speaker 8: I think the PGA Tour obviously opened the possibility for

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Speaker 8: some golfers live golfers in particular, to come back. I

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Speaker 8: don't know if that window has closed it or if

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Speaker 8: they will reopen that possibility, but I think in any event,

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Speaker 8: if they were to decide to go back to the

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Speaker 8: PGA Tour that they probably would face some penalties, and

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Speaker 8: the PGA Tour has been very strict with that.

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Speaker 6: So they could go to the DP World Tour.

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Speaker 8: There are other different leagues out there, but obviously, if

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Speaker 8: you ask golf fans where do they want the best

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Speaker 8: golfers playing, it's the PGA Tour.

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Speaker 6: And the golfers.

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Speaker 8: Themselves know that live was an option, but it remains

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Speaker 8: unclear if it will continue to be an option long term.

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Speaker 5: Interesting I've heard that. I mean, it's been reported that

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Speaker 5: the Saudis have lost you know, north of five billion

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Speaker 5: dollars in then now they're like, wait a minute, listen.

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Speaker 8: They were cutting checks for players for hundreds and millions

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Speaker 8: of dollars, and I think for at a certain point

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Speaker 8: of view, were a player, it was sort of silly

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Speaker 8: to not accept some of this money. You're talking about

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Speaker 8: one hundred million dollars in cash that was going to

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Speaker 8: be paid right away, and for some of the players

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Speaker 8: it's like, do I think am I confident enough that

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Speaker 8: I'm going to be able to get this on the

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Speaker 8: golf course?

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Speaker 2: Scar Did livgolf ever really catch on with viewers or

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Speaker 2: fans in the US?

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Speaker 6: I would not say so.

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Speaker 8: In the US now, there have been reports from Live

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Speaker 8: Golf that their business is growing, that they are on

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Speaker 8: track with different metrics that they have for themselves. But

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Speaker 8: if you were to ask the average American, you know,

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Speaker 8: where do you watch live golf? I'm not sure that

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Speaker 8: they would have an answer. And the reason for that

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Speaker 8: is because the PGA Tour has been around a long time.

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Speaker 8: It's hard to uproot any league that has been here

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Speaker 8: in America that is deeply rooted in American culture with

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Speaker 8: something new. It just doesn't happen across any sport.

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Speaker 6: I'm going to tell you what.

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Speaker 5: I'm not a supporter of the Live Tour. I'm a

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Speaker 5: PGA person, but I'll tell you what every golfer, every

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Speaker 5: professional golfer, should thank Greg Norman and Phil Mickelson for

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Speaker 5: creating this whole live thing, because what a sentence. Lifted

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Speaker 5: the wages for everybody rare, including this weekend when the

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Speaker 5: Arbasi Classic down in hilton Head, which is historically a

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Speaker 5: smaller tournament, it's now what has a purse of twenty

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Speaker 5: million dollars. Thank you, Greg Norman, Thank you for much.

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Speaker 5: So now the question put them back together? Right?

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Speaker 6: I mean, that's the thing though.

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Speaker 8: That is an interesting perspective because for a long time,

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Speaker 8: if you listen to the PGA Tour speak publicly about this,

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Speaker 8: they blame Live Golf for splitting things up, and there

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Speaker 8: was not a lot of accountability on how they could

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Speaker 8: do things better until the Strategic Sports Group came in.

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Speaker 8: They invested a whole lot of money, and since then,

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Speaker 8: between the Strategic Sports Group and Brian Rollapp, the PGA

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Speaker 8: Tour has been on fire. And I would say that

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Speaker 8: Live is running out of fuel.

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Speaker 3: Stay with us. More from Bloomberg Intelligence coming up after this.

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Speaker 1: You're listening to the Bloomberg Intelligence podcast. Catch us live

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Speaker 1: weekdays at ten am Eastern on Apple, Cocklay and Android

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Speaker 1: Auto with the Bloomberg Business app. Listen on demand wherever

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Speaker 1: you get your podcasts, or watch us live on YouTube.

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Speaker 5: Lots of M and A out there. The question is

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Speaker 5: what can get I guess past the regulars, And we

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Speaker 5: have an administration here that M and A bankers, M

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Speaker 5: and A lawyers felt like they can get a lot

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Speaker 5: done in this environment. And we'll see here. But there's

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Speaker 5: a lot of cases that the regulars are going to

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Speaker 5: have to deal with here, and who better to do that?

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Speaker 5: Look us up as Jennifer Ee, senior litigation analysts for

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Speaker 5: Bloomberg Intelligence. Jen let's just talk the one that popped

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Speaker 5: up this week and I was involved with as a

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Speaker 5: banker back in the day, Live Nation ticket Master. Everybody's

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Speaker 5: out there feels like our ticket prices are way too high,

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Speaker 5: there's way too many fees and what's going on in there?

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Speaker 10: Yeah, well, you know, it's a perfect example of what's

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Speaker 10: happening in this administration because the Department of Justice has

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Speaker 10: been pursuing that company for years. I mean, they had

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Speaker 10: a settlement when you were involved. Right when they acquired Ticketmaster,

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Speaker 10: they violated that settlement, they were found to be in violation,

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Speaker 10: they entered a new settlement, and now still we've had

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Speaker 10: a trial. The Department of Justice had sued. The Department

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Speaker 10: of Justice wasn't part of that trial because they settled

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Speaker 10: the case in the first week with Live Nation. It

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Speaker 10: was a pretty big surprise to a lot of people.

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Speaker 10: But apparently it's been reported that there were lobbyists hired

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Speaker 10: that influenced the administration and got a pretty good settlement

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Speaker 10: for Live Nation out of it. But we have states

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Speaker 10: that also enforce the antitrust laws. They can enforce the

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Speaker 10: exact same laws the Department of Justice can, and they continued.

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Speaker 10: Most of them. A few settled, but most of them

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Speaker 10: continued to pursue Live Nation, and they won a liability

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Speaker 10: verdict from a jury that Live Nation has monopolized certain

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Speaker 10: aspects of the live concert industry.

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Speaker 2: So put it all together, what does that likely mean

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Speaker 2: for Paul Sweeney when he wants to buy tickets to

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Speaker 2: a summer festival next year.

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Speaker 10: Well, let's just hope it means that those tickets are

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Speaker 10: a little easier to get and less expensive. Probably not

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Speaker 10: by next year, though. These things take a really long time,

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Speaker 10: and it's highly likely that once the judge issues is remedy,

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Speaker 10: which could take another six months, that Live Nation will

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Speaker 10: then appeal that, and usually a remedy, particularly if it's

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Speaker 10: fairly intrusive, it will be stayed depending the appeal, which

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Speaker 10: means nothing's going to change. So when Paul buys a

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Speaker 10: tickets next year, he's still going to face some a

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Speaker 10: lot of fees until this gets through the appeals process,

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Speaker 10: possibly even get all the way through to the Supreme Court.

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Speaker 2: What happens with the ticket resellers, those other companies out

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Speaker 2: there access some thinking.

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Speaker 3: Stub Hub, did they have a role in all of this?

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Speaker 10: You know they do because several of them have really

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Speaker 10: been trying to get into what we call the primary

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Speaker 10: ticketing market, not reselling, but being hired by the venue

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Speaker 10: to sell the tickets for the concert in the first hand,

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Speaker 10: and they've really struggled because Live Nation has such a stranglehold.

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Speaker 10: So right now they're watching and waiting hoping that whatever

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Speaker 10: this remedy is that the judge imposes will open up

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Speaker 10: competition and allow them to gain a little more market share,

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Speaker 10: get a few more contracts with some venues and sell

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Speaker 10: more primary tickets.

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Speaker 5: Let's get some get to some rand news here. President

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Speaker 5: Trump said Iran agreed to suspend its nuclear program indefinitely

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Speaker 5: and will not receive any frozen funds from the US.

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Speaker 5: Trump set in a phone interview on Friday that a

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Speaker 5: deal to end the war, which the US and Israel

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Speaker 5: began with Iran in late February mostly complete. Talks overlasting

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Speaker 5: agreement will quote probably be held this weekend, the President said.

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Speaker 5: Bloomberg Balance a power with Joe Matthew will bring you

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Speaker 5: all of the details in just a few minutes. Jen,

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Speaker 5: let me get to another deal. It's deal. It's near

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Speaker 5: and dear to my heart, which is Paramount Sky Dance, Yes,

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Speaker 5: acquiring Warner Brothers, Discovery Mega mega deal in the media space.

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Speaker 5: What are the regulators going to say about this?

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Speaker 10: Well, in the US, they've already spoken and they said

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Speaker 10: we're fine with it.

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Speaker 5: Nice.

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Speaker 10: Yeah, I mean, the Department of Justice allowed the Heart

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Speaker 10: Scott Redina waiting period, that's the period the companies have

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Speaker 10: to wait before they can close to allow for anti

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Speaker 10: trust review. They allowed it to expire. Now I've seen

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Speaker 10: news that some subpoenas were sent out since then, I

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Speaker 10: don't really think that means much because in the US

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Speaker 10: right now, legally the companies can close. The reason they

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Speaker 10: haven't is because they're waiting for Europe and UK, which

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Speaker 10: also have jurisdiction, to review the deal, and they cannot

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Speaker 10: close until they get that. But I'm not so sure

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Speaker 10: that the European regulators are going to have much of

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Speaker 10: an issue with this because the impact is more in

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Speaker 10: the US in terms of labor in putting together those

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Speaker 10: movie studios.

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Speaker 2: But we know that there's a lot of opposition, especially

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Speaker 2: in the Hollywood creative community, to this deal. In fact,

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Speaker 2: more than one thousand Hollywood actors and screenwriters have written

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Speaker 2: this letter of opposition, really pointing out the harm that

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Speaker 2: it will do. The goal, according to these folks, is

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Speaker 2: to get state attorneys general to stand up and oppose

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Speaker 2: this deal. Does that have any legs to it?

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Speaker 10: Absolutely? The States, as I said, can enforce the same

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Speaker 10: anti trust laws as the Department of Justice, and they've

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Speaker 10: been talking for several years now about stepping in. If

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Speaker 10: the new Trump administration was lax on anti trust enforcement,

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Speaker 10: they would step in and pick up the mantle and

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Speaker 10: run with it. And we're seeing that they've done that.

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Speaker 10: They have a lawsuit right now pending against the next

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Speaker 10: Star techna deal, which was also cleared already by the

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Speaker 10: FCC and the Department of Justice. And if they get

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Speaker 10: enough pressure, if there's enough consumer concerned about the Paramount deal,

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Speaker 10: I could see the States bringing a lawsuit and they

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Speaker 10: have a shot.

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Speaker 5: Thirty seconds. Jen, there was a story recently United and

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Speaker 5: American Airlines singing together.

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Speaker 6: No way.

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Speaker 10: I think no textbook anti competitive. Of course, I said

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Speaker 10: that about Sprint and T Mobile and that deal got done.

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Speaker 10: I think that it's just posturing. I don't really see

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00:22:10,960 --> 00:22:13,479
Speaker 10: that deal coming together. I think even if there's lobbying

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Speaker 10: to the Trump administration, I don't know how the Department

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Speaker 10: of Transportation or the Department of Justice clears that deal

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Speaker 10: without massive divestitures. And I don't even know if that's fatal.

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Speaker 2: I mean, Jeppelin Spirit weren't allowed to get yes, and

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00:22:23,720 --> 00:22:25,960
Speaker 2: I know that was under a different administration. If you

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00:22:26,000 --> 00:22:29,000
Speaker 2: put together American and United, that becomes the biggest airliness

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Speaker 2: in the US by a lot.

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