Netflix is in a weaker competitive position due to lack of IP; bidding recklessly on live sports is unjustified given limited additional revenue potential.

You have Netflix, Disney, and a host of other players.

They are far ahead of Disney, and even Netflix. They have, in my opinion, a sports library that Netflix can't even come close to at the moment.

Of the three you mentioned, Netflix seems the most likely to be affected by this deal, but you mentioned debt.

It could be argued that Netflix needs this content.

look at Netflix. Does it make sense for Netflix to pay huge sums of money for the American football league? I don't know if they will think about that in the long run.

I think so, yes, they need live sports, but Netflix is the service everyone has anyway. So, they don't get much additional revenue from it. I mean, they might get advertising revenue, but again, it's not enough to justify reckless bidding.

Who can do that? Is it Disney? Is it Netflix? Netflix can afford that. Disney can afford that. It's simply a matter of being able to get through the regulatory process and what that might look like.

I would be genuinely surprised if Netflix did not participate if there ended up being some kind of bidding war over NBC. I think Netflix is the one emerging in a weaker position.

I know everyone is referring to contract termination fees. This is amazing. Cash flow is good, but they were and still are looking for intellectual property rights. They desperately need it, and I don't know how much this $2.8 billion or whatever cash it is will give them compared to the libraries and cheap content that I think they are all after right now.

Netflix is still somewhat of a "bogeyman" in this field.

I think Netflix and Peacock will reach some kind of aggregation agreement where they work together without going as far as merging. I think this makes perfect sense, like giving them, or even shutting down the Peacock streaming service and simply saying: "You know what, Netflix, we'll sell you all our content."

Or find a way to share revenue and add Peacock's content to Netflix as something less than a merger, where they work together and coordinate their efforts.

I still believe, and this is just an opinion I hold very strongly, that the crucial step to gain an advantage here is for Disney to take its studio and streaming business, and everything that is not related to experiences, and merge it with Netflix while Disney retains a stake, maintains the intellectual property and continues to develop it, but in order for Disney to get out of the low-margin business that they are unable to make successful, and in which they have struggled despite all their attempts to change the reality.

Turn them into the part that works, which is the experimental part. Let Netflix manage that intellectual property while Disney retains, I don't know, perhaps through a "reverse Morris trust" or something similar, they can easily retain a 25% stake. That 's the winning card.

Well, if it were merged with Netflix, Netflix simply doesn't have the parental control tools, or the quality, right? correct. I mean, I don't think so, and it would be crazy for Netflix to say "Yes, we're going to shut down this kid-oriented brand ."

I think for Netflix, it's about intellectual property, all the production , and the ready-made content.