David Ellison says combined Paramount and Warner Bros. Discovery will be named Skydance

VEGAS TO ELON IN HIS SPARE TIME. HE DOES VEGAS. >> YEAH. FASCINATING. BACK AND FORTH. AND OF COURSE DELTA WILL BE ONE OF THE FIRST EARNINGS THAT WE GET FOR Q3. YOU SEE THIS POST FROM DAVID ELLISON THIS MORNING, JIM NOW REFERRING TO THE COMPANY AS SKYDANCE. THERE'S GOING TO BE ALL KINDS OF CHANGES. WE'RE GETTING NEW STUDIO CHIEFS OVER AT. WARNER DIGGER OPENS THIS WEEKEND. >> AND HOW ABOUT THOSE LAYOFFS, DISNEY. >> YES. >> IN THE CHALLENGE, THIS WHOLE AND THIS WHOLE SEGMENT IS SO CHALLENGED. YOU REALLY GOT TO BE GUTSY TO STEP IN. >> WOW. >> LOOK AT THAT. YOU KNOW NORMALLY WE GET THE PARAMOUNT LOGO OFF OF THE MOUNTAIN. >> BUT WOW, THAT'S THAT'S I'D. >> RATHER LOOK AT A AT THE STOCK AT 12 THAN IT WITH ALL THOSE DIFFERENT THINGS. AND IT'S AT NINE. I'M TRYING TO FIGURE OUT HOW IT GETS. MAYBE REMEMBER WHEN FABER KILLED IT? I USED TO JOKE LIKE. >> THAT. >> THAT DAVID. HE KILLED IT BECAUSE THEY HAVE SO MUCH DEBT. THEY HAVE TO DO SOMETHING. AND I HAVE TO TELL YOU, THOUGH, I WILL GIVE THEM THIS. REMEMBER WHEN WHEN ZAZ CAME IN, YOU HAD THE SITUATION AT WARNER BROTHERS DISCOVERY. WHERE WAS IT? SEVEN. HE SAID, LISTEN, WE'RE $28 STOCK. I WENT OUT TO DINNER WITH HIM, WITH MY WIFE AND PAM. SHE'S SENSATIONAL. MY WIFE. MY WIFE HATES TO GO OUT TO DINNER WITH BUSINESS PEOPLE, BUT SHE LIKES PAM. WE'RE NOT ON CAMERA. >> YEAH, YEAH. >> AND HE SAID, YOU KNOW, I WAS TELLING YOUR HUSBAND I HAD $7 STOCK GO TO 28. AND MY WIFE SAID, OH. >> YEAH, YEAH. >> HOW'S THAT? HOW'S THAT? AND THEN HE TURNS TO PAM AND I SAID, REALLY? AND HE SAID, OH, IT'S 28. AND I NEVER, I, HE WAS RIGHT. >> I MEAN, IT'S A GOOD EXAMPLE BECAUSE THE RATE ENVIRONMENT IS A LITTLE DIFFERENT NOW IF YOU'RE HIGHLY LEVERAGED, JIM. >> I MEAN, HOW MUCH DO YOU. >> HAVE TO CUT MORE NOW THAN YOU WOULD HAVE THEN? >> I THESE ARE REALLY DICEY. NOW WHEN YOU DO THESE. IT'S JUST LIKE IF YOU WERE TO LOOK. IT'S NO DIFFERENT FROM A HOUSE. I MEAN, YOU GOT TO PAY A LOT OF THE MORTGAGE RATE IS MAKES IT SO IT'S A LITTLE PROHIBITIVE. IT'S GOOD TO SEE. HOW ABOUT EATING ON CHRIS COMING IN AS CO-CEO. THAT DIDN'T TAKE LONG. >> DID IT? >> I MEAN, WELL, THERE IS SOMEONE WHO THE STREET ARGUES KNOWS HOW TO CUT WHEN YOU NEED. >> TO. >> I WILL. I KNOW THAT PEOPLE ARE DISAPPOINTED IN THE STOCK PERFORMANCE, BUT I WOULD COME BACK TO TELL YOU THAT HE SAVED THE COMPANY, THAT THE BALANCE SHEET WAS REALLY BAD. IT'S NOT ENOUGH. ANYBODY WHO BOUGHT IT IN 18 WHEN HE WAS ON THE SHOW IS ABSOLUTELY JUSTIFIED TO FEEL TERRIBLE ABOUT IT, BUT THERE WAS SOME WORTH TO WAITING ON DID THERE, AND I DON'T WANT TO DISMISS THAT. >> YEAH, I MEAN, THAT INDUSTRY WENT THROUGH A LOT BETWEEN COVID, BETWEEN TARIFFS, RIGHT. >> BUT YOU KNOW, WHAT PEOPLE LOOK AT IS THEY SAY, LOOK AT THIS DEAL. LOOK AT WHAT CHRIS COX DID. HE'S DONE A LOT OF DIFFERENT THINGS. >> WELL. >> THIS THE WHOLE IP STRATEGY. I MEAN MOVIES, YOU NAME IT. >> YES. >> NO, I MEAN, LOOK, YOU KNOW, MY DAD SOLD TOYS FOR THREE YEARS, AND THAT WAS EVEN WORSE THAN WHEN HE SOLD CARPET, BUT A LITTLE BETTER THAN WHEN HE SOLD SCOTCH TAPE, BUT NOT AS BAD WHEN HE SOLD CORRUGATED. THIS SERIES OF CHECKERED PRODUCTS UNTIL HE SOLD DOGGY BAGS TO FILL UP YOUR RESTAURANTS. BECAUSE PEOPLE ARE SO DARN CHEAP, THEY TAKE THE FOOD HOME. THAT WAS MY FATHER. >> COME HOME WITH SOME VALISES, PERHAPS. >> OH NO, HE HAD THIS GREAT STRING TOP BAG THAT WAS HEAVY, HEAVY CARDBOARD. SO BECAUSE HE DIDN'T WANT TO BE,