...Operator Good afternoon, and welcome to the Graham Holdings 2025 Investor Day. Please note the presentations at this Investor Day may contain forward-looking statements that are based on the company's current expectations. All public statements by the company and its representatives that are not statements of historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements are based on expectations, forecasts and assumptions by the company's management and involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those stated, including, but not limited to, the company's business strategies and objectives, the prospects for growth in our various business operations, future financial performance, and the risks and uncertainties described in Item 1A of the company's annual report on Form 10-K and quarterly report on Form 10-Q for the period ended...
