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Again, those are all joint ventures, not mergers. it's a distinction with a difference. The closest thing we've seen in Hollywood in the past have been co-productions, either on a one-off, or a package. Think about the Disney-Paramount deal on Popeye and Dragonslayer, or deals where one studio...

Joint ventures and mergers are completely different beasts. A joint venture is an agreement to consolidate one aspect of business for a period of time; a merger is a more permanent alliance. A merger between NBCUniversal and WarnerMedia would be unlikely to be approved by the FTC for example; a...