David Karnovsky

Can you update on where things stand with the Disney+ and Hulu integration and what consumer-facing

what path do you see to organically grow engagement? How do you think about this in terms of your own content

what drove the better-than-expected top line, which was up 6% relative to the guidance we provided?

on the sports OI guidance. So that is now mid-single digits, which includes the NFL network transaction

can you discuss how you plan to curate and deploy user-generated AI content across your platforms

how you view the opportunity or risk to license out content or IP to some of the emerging video creation platforms

I'm interested, though, in how you think about launching new IP into today's exhibition market. Is it a fair comment that that's a tougher proposition

interested to understand better the approach from a programming standpoint, how you view the necessary critical mass of both sports rights and shoulder programming

maybe you could discuss the rollout of Lightning Lane Premier, which I think you recently expanded access for. What type of take rates are you observing

wanted to see if you could provide any color on the Disney Treasure launch, how the early returns look relative to expectations

can you maybe shed any light into what your thinking was around engaging with the league now

can you comment on expected attendance trends relative to prior years and is it still your expectation

can you just update on what’s completed versus what’s pending and then how we should think about

how replicable this model is—meaning partnerships with sports teams in Latin America or even other regions

there is some detail on a venue securitization transaction. Could you walk through the structure at a high level

it'd be kind of helpful if you could dig in a bit more on the demand side of what you're seeing in terms of the indicators

refresh on the venue pipeline that will impact in 2026 in terms of the buildings opening in the second half of this year

I just want to get an update there

The release noted a decline in GTV due to more market-based pricing. I guess, first, and calling this out, are you seeing an acceleration in this trend

traditionally, on the Q2 call, we're far enough into the year that we can finally ask you how supply trends are filling out for the following year

you said concert margin flat for 2025. I think historically you've kind of shied away from giving margin guide

on your purchase of Hayashi, it seems like you've been circling a deal in Japan for a long time

the DOJ antitrust nominee recently indicated some openness to settlements where effective remedies can be put into place

wondering if you thought of potentially about the role of live music within some of these offerings, maybe it was something like ticket access

We saw the repurchase of REA shares in the quarter in addition to the News Corp shares.

given the impacts from traffic. If we look at you over the last two years, you have the OpenAI agreement

assuming you did see a kind of better macro environment, how are you thinking about the potential uplift from that? And assuming you get that revenue, how do you think about flowing through that to...

get your expanded thoughts on this reaction and what you view as reasonable to worry about versus maybe what the market is potentially overweighing

expand a bit on the decision to accelerate the buyback. What drove that? Where we might expect you to raise your quarterly repurchase activity

discuss a bit the structure here and reasoning to take the DAZN equity as payment and maybe your view on the asset

you noted an expectation for Dow Jones consumer circulation growth to improve from here as you cycle past promotional periods

You had at one point given an expectation of 75% to 80% of that is impacting EBITDA growth and margin.

Can you speak to some of the drivers of the better performance, including the accel in media?

I wanted to see if you could comment a bit more on healthcare and PR

can you speak a bit more to what the reception has been so far to the combined company offering, both from existing clients and recent RFPs

I wanted to confirm the organic guide for the year. I think in your prepared remarks, you said 3% year-to-date growth. In line with the outlook

It sounded like for PR, there were some delays in government spend. I do not know if you could dig into that a bit

how are you thinking about your own cost base and what's your confidence in holding margin in some of the more adverse scenarios

can you just walk through the puts and takes of that margin, moving up 10 basis points in the guide

can you discuss a bit what's been the reaction so far from clients? What are the points of excitement versus reservation

just be great to get your updated view on your portfolio of networks. How are you thinking about advertising and cord cutting trends from here

it'd be great to get your latest read in the sports rights landscape.

You noted scheduling more tours there. The opportunity with events and sponsorship

it would be great to hear more on the promotion so far in terms of fan engagement, viewers or anything else

what the operational or commercial lessons learned were and how do this kind of inform your plans to host WrestleMania 2027 there?

the stand-alone price is a bit above Peacock. I just want to understand also your considerations there for that kind of cord nevers sort of your fans

on the non-PLE content, why hold that back?

Should investors read that as confidence in the future of TKO, are there some other factors maybe driving some of that purchasing?

should we view them as overall EBITDA accretive to an Apex event?

what you're seeing across advertising channels and hearing from your marketing partners

corporate EBITDA was nicely improved versus last quarter and last year. Maybe just walk through some of the items