“Basically, from a book tax perspective, it won't have any material impact on the company. From a cash perspective, it will be a positive to us.”

In context

“ur franchise. So I wouldn't say that we've got a priority one way or the other. Our priority is to put out great movies that ultimately resonate with consumers. And the more we can find and develop original property, the better, of course. We are developing original property under the 20th Century Fox banner and under the Searchlight banner. And look, you could even argue that Marvel continues to mine its library of characters for original property, even though, for instance, there have been Fantastic Four movies before. We kind of consider the one that we did an original property in many respects because we're introducing those characters to people who were not familiar with them at all. Hugh F. Johnston: Yes, I got that. And regarding tax, I assume you're asking about the impact of OB3. Basically, from a book tax perspective, it won't have any material impact on the company. From a cash perspective, it will be a positive to us. And again, we'll talk about that more on the Q4 call, but we do expect a positive cash tax impact, which obviously benefits us from a cash flow perspective. Operator: Our next question comes from John Hodulik with UBS. John Christopher Hodulik: Maybe just following up on the ESPN launch. Given the attractive pricing for the service from an ESPN DTC bundle standpoint, can the launch of the ESPN platform accelerate growth on the D2C side, either from a subscriber standpoint or from an engagement standpoint? Robert A. Iger: The answer is absolutely. We won't predict exactly how much. But for $29.99, you can get Disney+, Hulu and ESPN, which is an incredible, incredible bargain for the consumer. And we would hope that, that will enable us to grow our sub base. Additionally, with ESPN and all”