before he was nominated to lead the antitrust division, macon del ray team -- can you please play the tape. >> this is more what we would call a vertical merger. the content with distribution rather than with two competitors merging. i anticipate that the sec will have little if any role, it shouldn't be -- just to hear the size of it and the fact that is media, i think it will get a lot of attention. however, i do not see this as a major antitrust problem. >> and he was right. there is no major antitrust problem. there is no antitrust problem. nothing has changed since mr. delrahim gave those remarks. this merger will not eliminate a single competitor, the tv bill will not go up, and the combined tnt,ny will not keep cnn, hbo, or any other network to itself. simply put, the theories in the doj's complaints filed an hour proof and have no make no sense in the real business world. we are confident that the law and the facts will prevail and that this merger will be allowed to proceed. >> with that, we would be glad to take questions. >> drew fitzgerald of wall street journal. two quest