1 00:00:00,520 --> 00:00:04,000 Speaker 1: Already, and this is the daily This is the Daily 2 00:00:04,120 --> 00:00:06,840 Speaker 1: ohs oh, now it makes sense. 3 00:00:14,720 --> 00:00:17,400 Speaker 2: Good morning, and welcome to the Daily Os. It's Tuesday, 4 00:00:17,400 --> 00:00:19,520 Speaker 2: the ninth of December. I'm Zara Seidler. 5 00:00:19,760 --> 00:00:20,880 Speaker 1: I'm Billy for Simon's. 6 00:00:21,280 --> 00:00:24,680 Speaker 2: Over the weekend, Netflix announced it was acquiring Warner Bros. 7 00:00:24,720 --> 00:00:27,960 Speaker 2: For over one hundred billion Australian dollars, in a deal 8 00:00:28,040 --> 00:00:31,960 Speaker 2: that has significant ramifications for the media landscape in Hollywood 9 00:00:32,000 --> 00:00:35,559 Speaker 2: and beyond. In today's podcast, Billy, we're going to explain 10 00:00:35,680 --> 00:00:38,519 Speaker 2: what we know about the deal itself, why everyone is 11 00:00:38,560 --> 00:00:40,600 Speaker 2: talking about it, and what it means for all of 12 00:00:40,680 --> 00:00:46,040 Speaker 2: us Netflix watches, Zara. 13 00:00:46,159 --> 00:00:50,200 Speaker 1: When we heard murmurs of this on Friday, Sam asked 14 00:00:50,240 --> 00:00:52,080 Speaker 1: me how much I thought the deal would be worth. 15 00:00:52,360 --> 00:00:54,360 Speaker 3: I was working from home, I missed all and this. 16 00:00:54,440 --> 00:00:57,160 Speaker 1: Is going to be quite revealing and embarrassing. What did 17 00:00:57,200 --> 00:01:01,120 Speaker 1: you say? I guess was five billion US dollar and 18 00:01:01,400 --> 00:01:03,840 Speaker 1: I thought that was a good guess. 19 00:01:03,880 --> 00:01:04,480 Speaker 3: Wow. 20 00:01:04,560 --> 00:01:06,760 Speaker 1: And for the record, so did Sam. 21 00:01:06,920 --> 00:01:09,160 Speaker 3: To be fair, I think like once the brain gets 22 00:01:09,200 --> 00:01:10,640 Speaker 3: over one billion. 23 00:01:10,319 --> 00:01:13,240 Speaker 2: Dollars, it's really hard to distinguish anything after that. 24 00:01:13,280 --> 00:01:14,600 Speaker 3: It's just such a big number. 25 00:01:14,800 --> 00:01:16,959 Speaker 2: So many zeros don't even know how many that that's 26 00:01:16,959 --> 00:01:17,760 Speaker 2: hard to distinguish. 27 00:01:17,920 --> 00:01:20,680 Speaker 1: My brain did not go to the eighty three billion 28 00:01:20,800 --> 00:01:21,959 Speaker 1: US dollars. 29 00:01:21,600 --> 00:01:22,000 Speaker 3: You know what? 30 00:01:22,160 --> 00:01:26,000 Speaker 1: That enough that this deal was So then it was 31 00:01:26,080 --> 00:01:30,280 Speaker 1: on Saturday that this deal was confirmed. Correct, tell us 32 00:01:30,280 --> 00:01:31,119 Speaker 1: about the announcement. 33 00:01:31,360 --> 00:01:32,720 Speaker 3: Yeah, so you're right. 34 00:01:32,800 --> 00:01:36,000 Speaker 2: Netflix announced it formally, but there was a lot of 35 00:01:36,360 --> 00:01:38,520 Speaker 2: reporting in the lead up that it was going to happen. 36 00:01:38,720 --> 00:01:41,160 Speaker 2: But on the fifth of December it was announced that 37 00:01:41,200 --> 00:01:44,400 Speaker 2: Netflix would be acquiring Warner Bros. For the equivalent of 38 00:01:44,440 --> 00:01:47,840 Speaker 2: one hundred and twenty five billion Australian dollars. Now, in 39 00:01:47,880 --> 00:01:50,160 Speaker 2: case you are not familiar, because I think it can 40 00:01:50,200 --> 00:01:52,400 Speaker 2: be hard to remember who does what in this space, 41 00:01:52,920 --> 00:01:56,840 Speaker 2: Warner Bros. Owns significant franchises, so things like Harry Potter 42 00:01:57,040 --> 00:01:57,559 Speaker 2: Not if. 43 00:01:57,480 --> 00:01:59,880 Speaker 1: You're familiar, very familiar, familiar. 44 00:01:59,760 --> 00:02:03,840 Speaker 2: Gay Thrones, Lord of the Rings, like the really big franchises, 45 00:02:04,200 --> 00:02:08,040 Speaker 2: and Warner Bros. Also owns the streaming service HBO Max, 46 00:02:08,080 --> 00:02:12,240 Speaker 2: which makes shows like Succession and Big Bang Theory, among others. 47 00:02:12,760 --> 00:02:13,560 Speaker 3: Warner Bros. 48 00:02:13,600 --> 00:02:17,119 Speaker 2: Also currently owns a cable division which includes the news 49 00:02:17,200 --> 00:02:21,000 Speaker 2: channel CNN. So just to be clear, Netflix will only 50 00:02:21,040 --> 00:02:23,840 Speaker 2: be buying the film and TV streaming part of the 51 00:02:23,840 --> 00:02:27,520 Speaker 2: business and that cable unit, so things like CNN that'll 52 00:02:27,560 --> 00:02:30,280 Speaker 2: be carved out and that will become a separate company, 53 00:02:30,560 --> 00:02:34,840 Speaker 2: not under Netflix's ownership. The deal has been approved by 54 00:02:34,840 --> 00:02:37,480 Speaker 2: both company boards, that was in the announcement, but it 55 00:02:37,520 --> 00:02:41,480 Speaker 2: will still require regulatory approval both in the US and 56 00:02:41,680 --> 00:02:45,040 Speaker 2: in Europe. It is expected though, to take effect later 57 00:02:45,280 --> 00:02:48,399 Speaker 2: next year, after Warner Bros. Has done that carve out 58 00:02:48,440 --> 00:02:51,839 Speaker 2: of the CNN stuff and has set that all up. 59 00:02:52,000 --> 00:02:55,079 Speaker 2: The deal will go through then, so quarter three next year. 60 00:02:55,400 --> 00:02:57,880 Speaker 1: And do we know if Warner Bros. Will still exist 61 00:02:58,040 --> 00:03:00,600 Speaker 1: as a brand or it will all become Netflix or 62 00:03:00,639 --> 00:03:01,680 Speaker 1: they haven't told us that yet. 63 00:03:01,919 --> 00:03:06,000 Speaker 3: Huh, very good question. A lot is unclear at the moment. 64 00:03:06,280 --> 00:03:09,280 Speaker 2: What we do know is that all of the back catalog, 65 00:03:09,880 --> 00:03:12,239 Speaker 2: so all of those movies I just said, they will 66 00:03:12,240 --> 00:03:15,960 Speaker 2: go over to Netflix. What happens moving forward in terms 67 00:03:15,960 --> 00:03:17,960 Speaker 2: of the production of new movies and the like, we 68 00:03:18,000 --> 00:03:19,839 Speaker 2: don't have a lot of detail about what that will 69 00:03:19,840 --> 00:03:22,720 Speaker 2: look like, whether it will be like co owned by 70 00:03:22,760 --> 00:03:25,640 Speaker 2: the two or what it will be, so just remains 71 00:03:25,639 --> 00:03:26,120 Speaker 2: to be seen. 72 00:03:26,600 --> 00:03:29,880 Speaker 1: And this was a really big deal. Yeah, I feel 73 00:03:29,880 --> 00:03:32,760 Speaker 1: like it's not often that a business announcement like this 74 00:03:33,200 --> 00:03:36,360 Speaker 1: really makes the ways that this announcement did. Why do 75 00:03:36,400 --> 00:03:38,160 Speaker 1: you think that everyone was talking about it? 76 00:03:38,400 --> 00:03:41,440 Speaker 2: I think that there's probably two main reasons. The first 77 00:03:41,480 --> 00:03:45,160 Speaker 2: is how we led with this. I think the financial perspective, 78 00:03:45,200 --> 00:03:48,000 Speaker 2: which is that this is a really big deal in 79 00:03:48,080 --> 00:03:50,640 Speaker 2: every sense of the words. So at one hundred and 80 00:03:50,680 --> 00:03:53,560 Speaker 2: twenty five billion Australian dollars, it ranks as one of 81 00:03:53,560 --> 00:03:56,880 Speaker 2: the biggest deals of the year. I read a LinkedIn 82 00:03:56,920 --> 00:03:58,840 Speaker 2: post from one of the founders of Netflix, and I 83 00:03:58,880 --> 00:04:01,520 Speaker 2: wanted to read it out because it was quite humanizing 84 00:04:01,560 --> 00:04:04,840 Speaker 2: for somebody that's just spent a lot of money. Mark 85 00:04:04,960 --> 00:04:08,280 Speaker 2: Randolph wrote twenty nine years ago, I debated whether I 86 00:04:08,280 --> 00:04:10,880 Speaker 2: could afford to spend fifty thousand dollars on the domain 87 00:04:10,960 --> 00:04:13,440 Speaker 2: name I really wanted for Netflix, so he says it 88 00:04:13,480 --> 00:04:16,440 Speaker 2: was replay dot com. I decided that that was crazy 89 00:04:16,480 --> 00:04:19,320 Speaker 2: money Netflix. It was to hear now that they can 90 00:04:19,360 --> 00:04:22,240 Speaker 2: afford to pay seventy billion US dollars for something is 91 00:04:22,279 --> 00:04:23,320 Speaker 2: pretty mind blowing. 92 00:04:23,680 --> 00:04:27,840 Speaker 1: That is quite the reflection on their journey. Also, is 93 00:04:27,880 --> 00:04:29,719 Speaker 1: now a good time to bring up how they started? 94 00:04:30,160 --> 00:04:30,880 Speaker 3: Do you know no? 95 00:04:31,320 --> 00:04:34,480 Speaker 1: Okay? Fun fact Okay, I love Trea in the middle 96 00:04:34,480 --> 00:04:37,400 Speaker 1: of a podcast. I always thought that Netflix was a 97 00:04:37,520 --> 00:04:40,760 Speaker 1: newer company in terms of the entertainment industry. But they 98 00:04:40,880 --> 00:04:45,880 Speaker 1: actually started as a DVD rental company and they sent 99 00:04:46,120 --> 00:04:49,440 Speaker 1: DVDs to customers, and so it didn't start as a 100 00:04:49,480 --> 00:04:54,159 Speaker 1: streaming platformed. But they transformed and innovated, and they obviously 101 00:04:54,200 --> 00:04:57,480 Speaker 1: pioneered the streaming industry and look at them now and 102 00:04:57,560 --> 00:04:59,080 Speaker 1: look at them now. 103 00:04:58,920 --> 00:05:00,880 Speaker 3: And so that is a huge reason. 104 00:05:00,920 --> 00:05:04,000 Speaker 2: As I said, like that sort of money is rare 105 00:05:04,640 --> 00:05:08,320 Speaker 2: and also really substantial in terms of how the deal 106 00:05:08,600 --> 00:05:11,599 Speaker 2: came to be. I don't know if anyone else cares 107 00:05:11,600 --> 00:05:13,240 Speaker 2: as much as I do. It's like nice to get 108 00:05:13,240 --> 00:05:16,120 Speaker 2: those details. There was a bit of a bidding war 109 00:05:16,279 --> 00:05:20,840 Speaker 2: for Warner Bros. So it started reportedly when Paramount, which 110 00:05:20,880 --> 00:05:25,440 Speaker 2: is owned by another billionaire, when Paramount made an unsolicited 111 00:05:25,480 --> 00:05:27,120 Speaker 2: bid to buy Warner Bros. 112 00:05:28,040 --> 00:05:29,080 Speaker 3: Then Warner Bros. 113 00:05:29,520 --> 00:05:32,080 Speaker 2: Rejected that bid, and I think it happened a couple 114 00:05:32,120 --> 00:05:34,039 Speaker 2: of times before Warner Bros. Were like, Okay, we're going 115 00:05:34,120 --> 00:05:36,320 Speaker 2: to go out for sale right now, Like there's clearly 116 00:05:36,400 --> 00:05:38,680 Speaker 2: inbound interest and we're going to go out for sale. 117 00:05:38,920 --> 00:05:41,240 Speaker 2: And it was at that point that Netflix started to 118 00:05:41,240 --> 00:05:43,839 Speaker 2: make bids as well, and so in the end, according 119 00:05:43,839 --> 00:05:47,520 Speaker 2: to reports, it was between Paramount and Netflix, but Netflix 120 00:05:47,560 --> 00:05:49,919 Speaker 2: came out on top after putting in an offer that 121 00:05:50,000 --> 00:05:52,520 Speaker 2: was a fair bit higher than Paramounts. And we were 122 00:05:52,520 --> 00:05:55,159 Speaker 2: discussing off Mike as well that they also put in 123 00:05:55,200 --> 00:05:58,560 Speaker 2: a bid that was predominantly cash, and so I found 124 00:05:58,600 --> 00:05:59,039 Speaker 2: so interesting. 125 00:05:59,120 --> 00:06:01,360 Speaker 1: It was usually a deal this it would involve a 126 00:06:01,400 --> 00:06:04,480 Speaker 1: lot of equity, yeah, But the fact that the majority 127 00:06:04,560 --> 00:06:08,760 Speaker 1: of this eighty three billion dollar US deal is cash, yeah, 128 00:06:08,920 --> 00:06:09,919 Speaker 1: is crazy to me. 129 00:06:10,160 --> 00:06:13,040 Speaker 2: It's crazy, and presumably it's part of the reason why 130 00:06:13,080 --> 00:06:17,599 Speaker 2: they were successful in winning this bidding war. And you know, 131 00:06:17,600 --> 00:06:20,120 Speaker 2: there's been lots of reports about the fact that the 132 00:06:20,160 --> 00:06:24,200 Speaker 2: Warner Bros. CEO could become a billionaire himself, not the founder, 133 00:06:24,279 --> 00:06:27,880 Speaker 2: the CEO currently because of how his remuneration is structured. 134 00:06:28,200 --> 00:06:29,120 Speaker 3: So there is a lot. 135 00:06:29,080 --> 00:06:33,760 Speaker 2: Of money changing hands here, and that in itself is newsworthy. 136 00:06:33,800 --> 00:06:36,880 Speaker 2: That much money changing hands is newsworthy. But I do 137 00:06:36,920 --> 00:06:40,039 Speaker 2: think that the bigger conversation that's being had is about 138 00:06:40,080 --> 00:06:44,919 Speaker 2: what this merger will do across the film and movie industry. So, 139 00:06:45,240 --> 00:06:48,360 Speaker 2: just before the deal was publicly confirmed, a group of 140 00:06:48,360 --> 00:06:51,360 Speaker 2: film producers sent a letter to Congress saying that they 141 00:06:51,400 --> 00:06:55,720 Speaker 2: held grave concerns about Netflix buying Warner Bros. In the letter, 142 00:06:55,800 --> 00:06:59,080 Speaker 2: they said, and I quote here, Netflix views anytime spent 143 00:06:59,120 --> 00:07:02,200 Speaker 2: watching a movie in theater as time not present on 144 00:07:02,240 --> 00:07:05,799 Speaker 2: their platform. They said, Netflix has no incentive to support 145 00:07:05,839 --> 00:07:09,280 Speaker 2: theatrical exhibition and they have every incentive to kill it. 146 00:07:09,800 --> 00:07:13,080 Speaker 1: So essentially, they're saying that a deal like this means 147 00:07:13,080 --> 00:07:16,360 Speaker 1: that there could now be this major I mean, Netflix 148 00:07:16,400 --> 00:07:19,080 Speaker 1: already is a major, major company, but it could be 149 00:07:19,200 --> 00:07:21,040 Speaker 1: more of a monopoly. Well, I guess it's not a 150 00:07:21,040 --> 00:07:24,520 Speaker 1: monopoly right now, but it could become a monopoly the 151 00:07:24,680 --> 00:07:27,680 Speaker 1: entertainment and streaming industry because of this deal. 152 00:07:27,920 --> 00:07:28,760 Speaker 3: Yeah, exactly. 153 00:07:28,840 --> 00:07:32,080 Speaker 2: And to be specific about what their concern is, they 154 00:07:32,080 --> 00:07:35,440 Speaker 2: are saying that because Warner Bros. Is not itself a 155 00:07:35,480 --> 00:07:37,960 Speaker 2: streaming platform, they have a streaming platform, but it is 156 00:07:38,120 --> 00:07:41,600 Speaker 2: kind of movie first. They're saying that Netflix won't be 157 00:07:41,640 --> 00:07:45,520 Speaker 2: incentivized to have movies go out to cinemas, but in fact, 158 00:07:45,560 --> 00:07:47,600 Speaker 2: they'll just go straight to the streaming services. And what 159 00:07:47,640 --> 00:07:49,640 Speaker 2: does that do to the cinema industry and everyone that 160 00:07:49,720 --> 00:07:53,040 Speaker 2: works in it and these big theatrical releases. Why would 161 00:07:53,080 --> 00:07:56,200 Speaker 2: Netflix be incentivized to have movies go out to the 162 00:07:56,200 --> 00:07:58,600 Speaker 2: box office when they could just go on the streaming service. 163 00:07:58,640 --> 00:08:02,600 Speaker 2: And so that's what this anonymous letter was really concerned about. 164 00:08:03,000 --> 00:08:05,840 Speaker 2: But it is interesting because The New York Times has 165 00:08:05,880 --> 00:08:08,960 Speaker 2: reported that part of the deal includes a pledge from 166 00:08:09,000 --> 00:08:13,640 Speaker 2: Netflix to continue theatrical releases for movies from Warner Bros. So, 167 00:08:14,320 --> 00:08:16,679 Speaker 2: I mean, that's clearly been identified as a pain point. 168 00:08:16,800 --> 00:08:20,040 Speaker 2: And if Netflix honors this and if everything goes to plan, 169 00:08:20,560 --> 00:08:23,280 Speaker 2: it should be that some movies do go to the 170 00:08:23,360 --> 00:08:25,600 Speaker 2: cinemas before they are put onto Netflix. 171 00:08:26,080 --> 00:08:28,640 Speaker 1: And one thing also to mention is that this deal 172 00:08:28,760 --> 00:08:31,239 Speaker 1: still needs to be approved by regulators, right. 173 00:08:31,160 --> 00:08:34,160 Speaker 2: Correct, Absolutely not a done deal. We know that there 174 00:08:34,360 --> 00:08:37,200 Speaker 2: is a lot that goes into these regulatory approvals. Not 175 00:08:37,240 --> 00:08:39,800 Speaker 2: going to pretend them that I understand them all, but 176 00:08:39,920 --> 00:08:43,480 Speaker 2: what you said before about competition and monopoly, those will 177 00:08:43,480 --> 00:08:46,160 Speaker 2: be questions that the regulators will be looking at. 178 00:08:46,360 --> 00:08:49,200 Speaker 1: How likely is it that they could block this. 179 00:08:49,360 --> 00:08:50,160 Speaker 3: It's hard to tell. 180 00:08:50,320 --> 00:08:53,600 Speaker 2: I think that from what the reporting looks like, it 181 00:08:53,679 --> 00:08:57,720 Speaker 2: is fairly likely that the deal will be approved, but 182 00:08:58,000 --> 00:09:01,120 Speaker 2: you never know, And also there's polity that goes into it. 183 00:09:01,440 --> 00:09:04,000 Speaker 2: So many things go into it, So I think that 184 00:09:04,000 --> 00:09:05,360 Speaker 2: that's probably a way to watch. 185 00:09:05,679 --> 00:09:08,280 Speaker 1: And Netflix said it could take up to eighteen months 186 00:09:08,280 --> 00:09:09,200 Speaker 1: for this to go through. 187 00:09:09,360 --> 00:09:12,920 Speaker 2: Yeah, exactly, But that's also relying on the breaking off 188 00:09:12,920 --> 00:09:15,960 Speaker 2: of the two companies within Warner Bros. So once the 189 00:09:16,000 --> 00:09:19,120 Speaker 2: CNN style company has broken off it's its own public 190 00:09:19,160 --> 00:09:22,120 Speaker 2: listed company, then the rest of the deal can go ahead. 191 00:09:22,400 --> 00:09:25,439 Speaker 1: And so then in terms of how it impacts Netflix's 192 00:09:25,480 --> 00:09:30,400 Speaker 1: customers today, my understanding is no impact today. Like we said, 193 00:09:30,400 --> 00:09:32,640 Speaker 1: it will take up to eighteen months les to go through, 194 00:09:33,160 --> 00:09:37,560 Speaker 1: but eventually, if it goes through, we will see Harry 195 00:09:37,600 --> 00:09:42,160 Speaker 1: Potter on Netflix, Game of Thrones, White loatus. I am 196 00:09:42,400 --> 00:09:48,679 Speaker 1: interested if how much Netflix costs per month will go up, yeah, 197 00:09:48,720 --> 00:09:50,920 Speaker 1: because they do have to pay for this deal somehow, 198 00:09:51,320 --> 00:09:54,160 Speaker 1: and doesn't mean that the customers will be paying for 199 00:09:54,240 --> 00:09:54,640 Speaker 1: this deal. 200 00:09:54,800 --> 00:09:57,480 Speaker 2: Yeah, I mean, they certainly haven't said. They sent an 201 00:09:57,480 --> 00:10:01,160 Speaker 2: email to subscribers, as you said, saying that nothing was 202 00:10:01,240 --> 00:10:04,480 Speaker 2: changing today, but that they would have more to say 203 00:10:04,760 --> 00:10:08,760 Speaker 2: when they had more to share. But presumably they are 204 00:10:08,760 --> 00:10:12,360 Speaker 2: going to absorb all of HBO Max's subscribers. There are 205 00:10:12,360 --> 00:10:14,800 Speaker 2: millions of people who subscribe to HBO Max. Some of 206 00:10:14,800 --> 00:10:19,480 Speaker 2: those shows you've said are humongous, so presumably in that absorption, yeah, 207 00:10:19,520 --> 00:10:21,120 Speaker 2: the cost is going to go up because you are 208 00:10:21,160 --> 00:10:23,439 Speaker 2: getting more bang for your buck and you are getting 209 00:10:23,440 --> 00:10:26,360 Speaker 2: more shows available to you, which I don't know if 210 00:10:26,480 --> 00:10:28,439 Speaker 2: the average consumer will be stoked about. 211 00:10:29,000 --> 00:10:31,160 Speaker 1: Do we have time for a thirty second tippit about 212 00:10:31,240 --> 00:10:35,280 Speaker 1: one of my criticisms of their announcement. Yes, go on Instagram. 213 00:10:35,320 --> 00:10:38,120 Speaker 1: When they announced this, they said, we're bang Warner Bros. 214 00:10:38,320 --> 00:10:41,040 Speaker 1: Here's a link to the press release, and they put 215 00:10:41,200 --> 00:10:46,560 Speaker 1: a link in the caption, and anyone who uses Instagram. 216 00:10:45,960 --> 00:10:46,959 Speaker 3: No, if you can't do that. 217 00:10:47,000 --> 00:10:48,800 Speaker 1: You can't do that. You can't put a link in 218 00:10:48,840 --> 00:10:50,959 Speaker 1: your caption because no one can click on that link. 219 00:10:51,120 --> 00:10:53,079 Speaker 1: That is not how Instagram works. And you would think 220 00:10:53,120 --> 00:10:56,840 Speaker 1: that a company that is worth this much money would 221 00:10:56,840 --> 00:10:57,120 Speaker 1: know that. 222 00:10:57,559 --> 00:11:00,480 Speaker 2: I saw somebody post that and say, maybe you shouldn't 223 00:11:00,480 --> 00:11:04,040 Speaker 2: have rejected my internship offers many times, because anyone who 224 00:11:04,040 --> 00:11:06,440 Speaker 2: works on social media or is on social media knows 225 00:11:06,640 --> 00:11:07,559 Speaker 2: you can't click it. 226 00:11:07,679 --> 00:11:09,920 Speaker 1: I feel like it's quite a basic thing that many 227 00:11:10,000 --> 00:11:10,480 Speaker 1: people know. 228 00:11:10,920 --> 00:11:12,920 Speaker 2: There you go have more young people in your ranks 229 00:11:12,920 --> 00:11:14,920 Speaker 2: when making major billion dollar announcements. 230 00:11:14,960 --> 00:11:16,960 Speaker 1: You heard it here first, Zara, thank you so much 231 00:11:17,000 --> 00:11:19,080 Speaker 1: for taking us through that. Thank you, Billy, and thank 232 00:11:19,120 --> 00:11:21,400 Speaker 1: you so much for listening to this episode of The 233 00:11:21,440 --> 00:11:24,320 Speaker 1: Daily os. I hope that it was as entertaining as 234 00:11:24,400 --> 00:11:28,760 Speaker 1: a Netflix show. Oh we will be back this afternoon 235 00:11:28,800 --> 00:11:31,520 Speaker 1: with your evening headlines, but until then, have a great day. 236 00:11:35,960 --> 00:11:38,240 Speaker 1: My name is Lily Maddon and I'm a proud Aarunda 237 00:11:38,480 --> 00:11:43,280 Speaker 1: Bungelung Calcuttin woman from Gadigol Country. The Daily oz acknowledges 238 00:11:43,360 --> 00:11:45,520 Speaker 1: that this podcast is recorded on the lands of the 239 00:11:45,559 --> 00:11:48,080 Speaker 1: Gadighl people and pays respect to all. 240 00:11:48,000 --> 00:11:50,280 Speaker 3: Aboriginal and Torres Strait Island and nations. 241 00:11:50,600 --> 00:11:53,520 Speaker 1: We pay our respects to the first peoples of these countries, 242 00:11:53,640 --> 00:11:54,840 Speaker 1: both past and present.