acquisition time, time, time warner will be approved. they are working on their review under way right now. he says he sees a huge opportunity in using customer's data to better target ads and grow time warner's ad revenues significantly. he also praised this administration's approach to regulation of the internet. >> it's obviously been an amazing few months in our industry. and there's clearly a return to a lighter touch pro-growth regulatory philosophy. it's not only in our industry, it's across all industries right now. we think this is incredibly positive for our country and it can catalyze economic growth all of us have been looking for. >> he's been in talks quite a bit on the call of corporate tax reform, saying he believes the pro growth philosophy can be a great catalyst for corporate growth. he says he is confident some sort of tax reform will be enacted this year. he can't guess the timing or the magnitude of the changes. >> how do you trade this one? >> if you look at...