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[null,null,"2026E"]
[]
[null,"Total Studio, DTC Ebitda ($M)",{"$f":"SUM(C7,C11,C15)","v":3970}]
[null,"Studio"]
[null,"Adjusted Ebitda",{"$f":"IF(C9=\"\",C8,C9)","v":2600}]
[null,"Consensus/BI assumption",2600]
[null,"User Input"]
[null,"Direct-To-Consumer"]
[null,"Adjusted Ebitda",{"$f":"IF(C13=\"\",C12,C13)","v":1850}]
[null,"Consensus/BI assumption",1850]
[null,"User Input"]
[null,"Corporate & Other"]
[null,"Adjusted Ebitda",{"$f":"IF(C17=\"\",C16,C17)","v":-480}]
[null,"Consensus/BI assumption",-480]
[null,"User Input"]
[null,"Cable Networks Ebitda ($M)",{"$f":"SUM(C20,C24)","v":5280}]
[null,"Cable Networks"]
[null,"Adjusted Ebitda",{"$f":"IF(C22=\"\",C21,C22)","v":6000}]
[null,"Consensus/BI assumption",6000]
[null,"User Input"]
[null,"Corporate & Other"]
[null,"Adjusted Ebitda",{"$f":"IF(C26=\"\",C25,C26)","v":-720}]
[null,"Consensus/BI assumption",-720]
[null,"User Input"]
[]
[null,"Sum-of-the-Parts Valuation"]
[null,"Total Studio, DTC Enterprise Value ($M)",{"$f":"C30*C5","v":55580}]
[null,"Forward Ebitda Multiple",{"$f":"IF(C32=\"\",C31,C32)","v":14}]
[null,"Consensus/BI assumption",14]
[null,"User Input"]
[null,"Cable Networks Enterprise Value ($M)",{"$f":"C34*C18","v":26400}]
[null,"Forward Ebitda Multiple",{"$f":"IF(C36=\"\",C35,C36)","v":5}]
[null,"Consensus/BI assumption",5]
[null,"User Input"]
[null,"Total Enterprise Value ($M)",{"$f":"SUM(C29,C33)","v":81980}]
[]
[null,"Equity Value ($M)",{"$f":"C37-C40","v":57402}]
[null,"2026 Net Debt",{"$f":"IF(C42=\"\",C41,C42)","v":24578}]
[null,"Consensus/BI assumption",24578]
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[null,"Per-Share Value ($ USD)",{"$f":"C39/C44","v":23.18549263086063}]
[null,"Shares Outstanding (M)",{"$f":"IF(C46=\"\",C45,C46)","v":2475.7722819999999}]
[null,"Consensus/BI assumption",2475.7722819999999]
[null,"User Input"]