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Abstract: In recent years, the out-of-time-order correlator (OTOC) has emerged as a diagnostic tool for information scrambling and chaos in quantum many-body systems. I will present some exact analytical results for the OTOC, and their long-times averages, for a typical pair of random local operators supported over two regions of a bipartition. I will show that this "bipartite OTOC" is equal to the operator entanglement of the evolution and provide further operational significance to it by showing its intimate connections with average entropy production and scrambling of information at the level of quantum channels.