Stephen Cahall

“Adam, I want to ask you about M&A, and just to preface, I certainly understand the importance of the transformation program. I know you've said that you're not counting on or relying on strategic M&A, so I don't want to kind of underweight the focus on transformation, but we've talked a lot about it on the call.”

“So just wanted to understand the upgrade to fan count growth. I think it's about 3% above what you'd guided to before. Is that upside from your expectation that you're all seeing in the second half, or is it more that as you've gotten visibility into the year, you're more comfortable upgrading that?”

“I was wondering if we could go one level deeper into that acceleration you saw through the second quarter. You know, I know there was a lot of sports going on at that time, but it sounds like your pacings continue to improve.”

“A couple on Venue Nation, just first as investors, I think, look to understand the investments a little better. You know, the guidance is for Venue Nation fans to grow faster than third party.”