David Karnovsky
JPMorgan Chase & Co, Research Division

Okay. We'll get started. Happy to have at the conference for the first time from Versant Media Group, Mark Lazarus, CEO. Mark, thanks for being here.

Mark Lazarus
CEO & Director

Thank you, David.

David Karnovsky
JPMorgan Chase & Co, Research Division

All right. Great. So you separated from Comcast and NBCUniversal in early January. Maybe you can walk us through your impressions as a stand-alone company to date. What's been the response from your operating partners? Any early learnings from interacting with the investor community?

Mark Lazarus
CEO & Director

So we spent a year separating out. And during that year, we were kind of doing 3 things simultaneously. We were doing the actual separation, which was complex and cumbersome. And I think maybe most of us didn't quite understand how complex and cumbersome, but we were able to manage that. And then we were operating the individual businesses and then trying to plan for growth for the future.

We've now got the separation behind us. We've been our own company now for almost 5 months. And I think the reaction is from our partners, whether they're distribution partner, advertising partners, sports leagues, anybody that we're in business with, has been an appreciation for the renewed focus that we're able to have on our business and on those partnerships.

We're now not part of a bigger company that has competing constituencies, and we're able to really focus on our individual business and invest in those businesses. And I think