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Analysts agree that this is a good opportunity for the UK broadcaster. “The future of the BBC at this point as an international player may be to strike deals with [streaming companies],” says Francois Godard, senior media and telecoms analyst at Enders Analysis, the media research firm. Platforms are, he continues, looking for “outside content, third party content, because they are cutting costs.”

Godard also noted the advantages for companies that have produced popular shows to partner with streaming media companies: “Disney has a capacity to leverage, to monetize brands that the BBC doesn't have.” But he added a caveat: “The only worry for me about the BBC is that they find themselves dependent on Disney. Dependent on Disney for the budget of new episodes … and the international brand of Doctor Who.”

This fringe group of “extremely wealthy financiers… in favour of unconstrained profit-seeking”, as tech analyst Joseph Teasdale put it, do however have significant influence. Not least because amongst their count include Brian Armstrong, CEO of Coinbase, and Andreessen, who is the co-founder of a $35bn venture capital firm az16

James Barford, head of telecoms research at Enders Analysis, said any acquisition would be “very small” from BT’s perspective but that the FTSE 100 company was “likely interested in bulking up its presence in the refurbished/recycled smartphone market, an area that all of the operators have taken more interest in recently”.

Rupert’s standing-down manoeuvre looks like a strategic ploy to improve optics on Wall Street ahead of a $2.7bn Smartmatic defamation suit against Fox News, says Claire Enders, a media analyst. “I don’t think anything has changed about Mr Murdoch’s life. This was a market, stock-driven event.”

The deep-pocketed Marshall, a chief investor in GB News and founder of the opinion-based website UnHerd, is on a mission to influence British political debate. “Sir Paul Marshall will bid with his whole heart for the Telegraph,” says Enders. “He is really deeply interested in having an impact on conservatism.”

Tom Harrington, head of television at media consultants Enders Analysis, questioned whether the line-up would retain enough of Netflix’s early-adopters, who first signed up for The Crown and innovative award-winning series like House of Cards and Stranger Things.

Mr Harrington told i: “The Crown is limping a bit to the finish line in terms of critical resonance but its viewing remains very strong. The gap it leaves is an important one.”

He said Netflix should explore a Crown spin-off, in the way that the hit historical drama series Bridgerton spawned a prequel, Queen Charlotte.