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tv   Tech Check  CNBC  May 17, 2021 11:00am-12:00pm EDT

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never did to gept acquired phi at&t, 5 million spectrum and a bunch of cash. one of the reasons they're doubling down on wireless and trying to compete with a new capital structure. >> merger monday to kick off the week we'll talk mob about it in days and weeks to come. that does it for "squawk on the street." "techcheck" starts now good monday morning. welcome to "techcheck. i'm deirdre bosa with jon fortt and carl quintanilla today a mega media merger that reshapes the streaming landscape, and in an about-face for at&t strategy. the latest on discovery's deal for warner media. then, new details on twitter
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blue inside the subscription service. jack dorsey an company, they're testing. and elon's crypto cryptic tweets mad at the tesla ceo again this morning. carl >> yeah. what a weekend on that front, de meantime, challenging for technology again nasdaq, worst performer of the major indices after last week's sell-off chips are taking it on the chin today. down more than 2%. faang mostly holding up. the big movers, jon, at&t/discovery opening up double digits and close to flat. >> yeah. that is the deal of the morning. discovery and at&t announced that they will combine discovery with warner media. a merchant to create a stronger streaming challenger for the likes of netflix and disney and one owned by the at&t and discovery share holders currently. shares of both companies surged off thatannouncement but
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discovery series a lost all the gains, though. disck, still up 9% the question is, is this combination of content enough to catch up to the competition? discovery's ceo's and at&t ceo earlier with david faber >> there's billions of people out there that we could reach in the market we're going -- you know, today we're almost 100 million to start. and so the other thing that we have that those companies, some of those companies don't have is, john built the best and enhanced, that has been investing in, the best tv production company in the world. one of the -- if not number one, number two motion picture studio in the world. >> carl, i think it's interesting here that we had this era where the idea was we need to put distribution together with content. we had comcast, nbcu and verizon, those media properties. at&t and time warner now verizon and at&t unwound
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those. meanwhile, on the tech side, look at amazon look at google look at apple. they all had these technology distribution methods, app stores, you know, prime, et cetera, that they continue to marry with content so i wonder, is this strategy on the media side going to play out better than it is on the tech side >> yeah. that's true. i mean, we had guests this morning on "squawk box" say, de, the era of vertical integration in media is literally coming to an end, but same time we're talking about other areas of technology, and apple is a prime example. getting vertical is actually what's happening right now >> yeah. amazon as well jon mentioned this amazon spent what? $11 billion last year up from less than $8 billion in 2019 and their cfo said they'll spend even more this year. perhaps the jury is still out here, jon and carl, maybe the prime ecosystem can show
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distribution and content will work blackburn back to amazon heading up media operations there. can he compete now with zaslav v jo joking calling him most important. if not, one of the most important people in media, and we'll see how tech companies will react maybe keep pouring money into content. maybe more deals are on the table. >> yep already starting to compare content budgets, although it's hard to get apples to apples we begin with our first guest and krcnbc contributor, kara swisher wrote the original book. great you have. >> good morning. how ya doing >> we're good. so many layers to this. >> yes. >> we could go a few different directions, but what is most interesting to you about it? >> what a bad strategist john stankey is i think that's all i thought this morning
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honestly so much, try not to use bad words, but ridiculous merger to start with they went on and on about it and now we're celebrating this this is a lose lost value here and everything else and shouldn't have been in the business in the first place. it's nonsense and i appreciate david zaslav, old-time media trying to spin it his way. netflix and the others had 26 laps around the track and these guys moving chess pieces around kind of pointlessly and a waste of shareholder money what is there to say what a bunch of nonsense see if they can keep up. why not? >> i actually referred, kara, to a code appearance by randall stephenson i think it was a couple years ago he tried to explain why this vertical miss would work did it make sense at the time? or have -- >> no. >> have dynamics changed where it's less relevant now >> no. i remember did it with john stankey, too
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i kept thinking in my bubble in my head and may have said it out loud uh-huh the phone company owning media they can own it. comcast has done well with nbc, but it's sort of, didn't make any sense. nonsense apartment the time and of what now. davi zaslav, talented but i think tech companies have been okay at this not bad at it but have enormous, endless amounts of money to spend and account out-spend these people all over the place. interesting will be how much they can marry these things together and sell them together. like a lot of great properties for sure, but it should -- there was no synergy between phones and this media stuff ever, and could you see that by verizon, unwinding that deal. nonsense at the time and this one which was nonsense at the time so, you know, they can go away and go full 5g that was their business, by the
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way, the whole time. this was just a chance to go with the oscars, i guess i don't know put on a tuxedo? i'm not sure never understood it. >> kara, in a way, this is the quivy thing playing out in distribution the idea with quivy, mobile was the future of media and, therefore, you needed to shoot things both versicle and horizontal it didn't pan out. at least not in the near-term, but i wonder if what we're seeing here, think idea that media and distribution need to be separated now, if it's more just that you can't put them together for the wrong reasons or is it really a bad idea i mean, tech companies, in their case, a lot of them, their distribution is making meing mon growing. more of the distribution, losing share, trickling and maybe can't afford to invest in media using profits from distribution anymore? >> it just was nonsense at the time no way people watch. people way the way they want to watch. make great content and you could
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have struck a marketing deal to do the same stuff instead of wasting shareholder money on this nonsense. i i keep thinking nonsense make great content and find distribution i think hollywood was in fear the hold tech companies on distribution of streaming and et cetera and should be right to but better at technology there is a marriage between technology and delivery. i know anyone who has kids, they watch them on phones and on televisions. watch them on ipads, and watch them wherever or they don't watch them, which ugly a really interesting time. you have to be in streaming, have great content there's never been more great content, by the way. last night i was watching "the nevers" on hbo and "mare of easton." disturbing. >> i've never been able to get this
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why time warner -- like rodney dangerfield. gets no respect. taken over by aol. zaslav and discovery you are smaller but taken over my zaslav. >> a great programmer had to walk oute way, he couldn't listen to a john stankey lecture about media. honestly should have been a sign for a lot of things. they still can make great content. there's great contenters at all of these places. interesting to see what happens to jason kylar and others. more moving around the pieces. whenever i see people move around the pieces they're not focusing on growth or content. which is their business. david is a longtime programmer i've covered discovery thins i was the "washington post" 30 years ago. writing one of the best leads i've ever written from the guy who founded it, and so
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discovery's had quite a journey itself although it hasn't taken advantages it has in the branding as well he's super slick and like listening to him for sure but i want content makers to make great con pept mike ama mike -- like "mare of easton" everybody should watch. >> and zaslav at discovery for a long time. >> not -- >> is he the right person to compete with disney and netflix? linear and streaming experience? he said earlier he wants to sign up 400 million people. is that realistic? can he do to >> i think he's an old-school media person and doesn't have the technical chops he needs to understand it. i don't know what they'll do with jason kylar not sure he angered a lot of hollywood people and david is probably good at this hollywood talent
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relationships. i met him -- i was there before david zaslav, there before another guy who founded up in rockfield, maryland, when i was with the "washington post" with a very small outfit. i don't know he's got to really compete with very sharp cookies over at netflix and at amazon. very good programmers over there and apple has tons of money. they all have tons of money. money always seems to take care of a lot of things in hollywood, although not everything. we'll see where it goes. definitely it's shaky. i just, when i see shake-ups i'm sort of like, this doesn't help them it doesn't help to create another thing that we're going to try again i'd like to see investments in content, investments in growth not returning to shareholders, or shareholder money this is a bad thing for at&t shareholders for sure. >> going by the numbers, right they'll invest, what $20 billion in original content. this new entity. who is the deal a wake-up call
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for? we know amazon and netflix are spending huge amounts of money what about paramount plus? and peacock? our own parent company where does this go for them? a wake-up call for anyone? >> all of them they have to pull out the money. tech companies have endless money and all of it invested in -- >> and -- >> to merge together, i guess. i wonder where comcast was in this one i don't know i don't know anything about it done no reporting. i think, you know, it's a good deal for david zaslav for sure he's getting a good -- some amazing content on hbo and on, and warner i use hbo max quite a lot. i think it's well done, but i go -- you go through all of them at some point probably going to be a hookup of all of them in some way you have like nine streaming options eventually but i don't know i don't know at some point people are tired of -- you have hbo max, you have
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peacock and then you sort of notice them on your credit card. that kind of thing it might be an issue one thing that's great, greats for content creators and there's great content for sure any day of the week you can pick up any of these things and see wonderful, wonderful content being made so, yea for content creators. >> no question about that. on the call this morning, in fact, david said got to have content people love so much they would run home and pay for it before they pay for dinner or a roof over their head that sounds expensive, kara. >> it does. >> theses $20 billion content budgets, that's run of the mill from now on? >> yeah. i'm thinking can we do a show, carl carl and kara show something like that? >> sure! >> be a detective drama. we wouldn't solve crimes criminals -- >> criminal detectives season four, the bad guys win you know, one last thing, kara totally buried what woo have
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bhave -- would have been a bigger headline, twit we are reporter blue three-month subscription, undo tweets and other things. is that interesting ting toy? >> yeah. professor gallaway talked about twitter doing subscriptions. saying they should do. important thing. they're super slow an idea one more controlled is a great idea low hanging fruit to make more money but doesn't seem to want to much as it should we've been using twitter spaces a lot. i like a lot if they do this it's great a great idea why not? they could raise their revenues rather significantly, i think. and they have a product people would actually, you'd want to xub des subscribe to this. an easy "yes." an easy check mark. >> shares negative for the year once again last couple of days. >> yeah. >> kara, a lot we'll talk about in the days to come.
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>> so much. >> appreciate it thanks. >> all right thanks. and still to come on "techcheck," another elon musk tweet takes bitcoin. just getting started here. >> announcer: "techcheck" is sponsored by -- most pe there's the day your store has its biggest sale. the day you have a make or break presentation. and the day your team operates from across the country. but there's also the day you never see coming- the day when nothing goes right. see- that's the thing.
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"techcheck" on coin base shares plunging about 4% perhaps a little more and perhaps elon musk coinbase heavily influenced by the price of bitcoin reference price of $2.50 when it went public, de. >> well, check with bitcoin plunging below $43,000 overnight after a tweet by elon musk implying tesla sold and would slap themselves once they found out tesla dumped their position. musk replying, indeed but clarified tweeting tesla had not sold any bitcoin ron conway co-managing partner
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of sv angel. ron, good morning. >> good morning. >> so bitcoin, you know, what the bulls say, derives its strength from its community. it's bigger than one person or one group of people. the idea that elon musk can move this market with tweets, what does that say about how far bitcoin has come and where it needs to go? >> well, elon musk has a big personality, and i think he is good for the tech industry. but, elon, the reason that he's pulling back is the whole issue around the energy that is used mining the bitcoin. and i think it's very important to clarify that over half of the tokens use no energy
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they use what is called proof of stake. now, like it or not, bitcoin which is the biggest, btc, that does use proof of work -- excuse me that uses proof of work, and so that does use energy but what we need to realize is that the problem is being addressed. 76% of the bitcoin miners are using renewable energy in their mix. and 39% of mining's total energy already is coming from renewables and, remember, energy consumption, every time we turn on the dryer or christmas lights, in christmas season, we're all using energy so it's a problem we all need to
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deal with, and we need to realize that majority of the tokens don't absorb any energy so -- >> right, but, ron, the scale is much different there right? i think that's what people take issue with as you say, though, this was sort of a call to arms to help make bitcoin mining for efficient, but let me ask you. you were in d.c. last week with coinbase ceo and answering questions, fielding, i'm sure no shortage of except sikepticism. what message did you take away with crypto. >> we met with a lot of policymakers and regulators, and our message to them was that the crypto industry wants to cooperate and collaborate on efforts to establish a regulatory framework for the crypto economy so there's no mystery about government agency
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jurisdiction and rules, because without that clarity, a lot of founders are not coming to the united states and creating jobs here, and with clarity, we think we'll be able to create even more jobs in the united states we need that regulatory framework. and many of the people we met with said, we've never had a company come in and ask us for a regulatory framework, but the crypto industry is. >> ron, how much did you get questioned about crypto's role in ransom ware attacks that was very much in the news last week. has been this year, and it's one of the dings that a lot of people direct towards crypto and point to that need for regulation in it >> yes we got asked lots of questions, but that was one of them as
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well, and we pointed to a recent work that mike morrell completed in this area of security of crypto. and we agree it is an issue that has to be addressed, and the industry wants to cooperate. >> and then i wonder what you think when you see today's news of discovery combining with warner i mean, you haven't done a ton with sv angel in content you're more focused and platform and software, but there's been a history of moves of tech sort of embracing media as kind of a means to an end to populate platforms sometimes and then backing away from it how important is content right now in the overall tech landscape? >> well, this is the backbone of all of these services. every facebook user is creating content. every search we do on google is
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pointing us to content so we're -- we're joined at the hip, in my opinion and i'm a huge david zaslav fan. i think david will do a lot to further the partnership between technology and media. >> ron, we had this conversation earlier. sort of this divide between distribution and content, but the big tech companies like apple and amazon are trying to do both still. can they be successful are they successful? >> yes and i think these big companies want to partner with the traditional media companies as well. you know, content is -- is the heart of the internet. the why people go to the internet so the big tech companies and the traditional media companies should partner all they can, and
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david zaslav is the perfect person to shepherd that process. >> well, ron, thank you for all of your insights we have to talk to you again soon ron conway. >> thank you. smart for both sides that's what citi is saying this morning about discovery's deal with at&t. taking a bit of the toll on competition. disney, netflix, our own parent comcast down on the news, but discovery is also a double digit gain of the open now down almost 2% "techcheck" is bk tee tryi everything. like a coffee run... don't just sell it. ten-x it. to make progress, we must keep taking steps forward. we believe the future of energy is lower carbon.
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welcome back to "techcheck." i'm carl quintanilla with jon fortt, deirdre bosa and julia boorstin this morning. stocks lower for the most part tech and communications services where the locusts of the challenges are worst performing sectors peloton is the worst component on the nas. disney and the dow
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meantime, get a news update with rahel solomon. >> good morning. home builders remain confident due to strong demand from buyers according to a national association of home builder survey out this morning with cost of construction materials soaring and that's making homes less affordable and positive effects of low interest rates. and starbucks and target retailers and restaurants that will not require masks for fully vaccinated customers unless local or state officials say they are required. vaccinated employees also don't need to wear a mask. today the u.s. supreme court rejecting johnson & johnson's appeal of a $78 million jury verdict over failing to adequately warn about the risks of its anti-psychotic drug and hearing an appeal from novartis over an unsuccessful challenge for patents for improving arthritis. starbucks, great news but
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add that to confusion over where you can and can't wear your mask and when you should and shouldn't. >> i get confusing if you're fully vaccinated you don't have to wear a mask generally. >> unless you're in a state where you do -- >> you should know i mean -- >> you should. >> google it okay, rahel, thank you. back to discovery's deal with at&t for warner media julia boorstin with us julia, so much here. is this about needing scale to compete with netflix and disney? is it more about getting the right multiple, what they're framing as a media growth story? >> jon, i think a yes on both a little of both i think at&t likely frustrated it didn't get the same boost that companies like disney get br br growth from direct to streaming, and yet that was not reflected with the overall stock price of at&t so i think they believe this
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will generate more value for shareholders that way and then also a question of what does it take to compete? there are only so many services that subscribers are going to pay for among these a la carte services it's unclear if hbo max will beat there combined with discovery, creating a new powerhouse, all of a sudden you have something that needs to be included. look at the content spend, jon, we love to talk about content spend. david zaslav said repeatedly, $20 billion is what the two companies together spend on content annually and we wants to spend more. >> i wonder if they have the right data to target that spend? but what kind of a strategic reversal is this or is it a strategic reversal? i remember a lot of talk when at&t got warner media to begin with about the content driving signups for wireless services. things like that did that just not happen, or did it happen and now is pretty much done
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so they didn't have the next justification? >> well, look. i think that the world has changed in the past three years, but it's also unclear whether at&t was really getting the value it wanted from combining those two things remember when verizon did that deal with disney plus to distribute disney plus to verizon subscribers? the deal worked great for verify rising and disney plus and they didn't need to be onwned by the parent companies's stankey and zaslav were asked that question and said this deal is possible now because at&t owned time warner turned it into warner media, built the streaming business and now this is all panel. certainly seems like repudiation of former at&t ceo randall stephenson's strategy for so many years building up a much larger media company with all those different assets. >> huh julia, tell us about the players
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here, which you know so well biggest surprise of the morning so far has been ron conway singing the praises of david zaslav, who a lot of people think of as, yes, a very competent but traditional media executive and ron conway is the start-up guy so how is it that david zaslav ended up in control of this, even though discovery is the smaller player >> well, that's a good question, jon, but i actually don't think that's surprising. david zaslav, yes, been ceo of what is a smaller of these media companies compared to some of the giants, but what he's done over the years is he's done very meaningful acquisitions with the scripps deal with deals like euro sport built up a company and a very international company. that international reach is hugely valuable right now in a very big piece of this deal and zaslav showed not only can he assemble these assets, merge them, oversee this type of,
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these types of merged assets, but can have really good relationships with talent. remember, he did that mega deal with oprah for own a guy who knows ho you to deal with hollywood names and all sorts of different types of talent that's very important. especially when you look at jason kylar and uproar in hollywood about the way he handled the decision to take warner brothers movies and put them direct to consumer on hbo max same time they're in theaters for 2021. that was a controversial move. a lot of people thought that wasn't handled that well and i think zaslav has much more of a magic touch with that all-important hollywood talent. >> is this the end of the tech exec.'s golden touch in media? for a while seemed if you'd been at hulu or an ott names, the shine was on you, but not anymore? >> so i would say that kylar wasn't necessarily a tech exec.? right? from hulu from the very
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beginning, the early days, and that was a digital media player owned by media giants. i think there is a sense that having someone who really understand hollywood relationships is valuable, but zaslav is an east coast guy who said this morning he needs to spend more time out here in hollywood and knows how to deal with the hollywood personalities so valuable all about the land grabber content. jeff zucker, i mention, put him up on the full screen to address the fact he was supposed to leave cnn at the end of this year, but has a very close relationship with zaslav zaslav sang his praises and possible due to this deal zucker can not only stick around but have more of an elevated role. >> finally, julia, some of the fun stuff to consider are going to be, for example, in their lineup, who they put to bat in the early parts of these innings. you know, zaslav mentioned d.c. comics right away. is there a possibility you do
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see sort of a superhero franchise standoff >> i think it's really, really worth noting that he did mention d.c. comics right away a lot of talk how d.c. comics could have been bigger, like marvel could have been a lot more there. i think he sees opportunity to mine these assets, not just the way they have been for warner brothers, but making them a much bigger part of the whole thing maybe making them even bigger on hbo max than they are right now. >> definitely exciting to see, julia. thanks for breaking all that down for us. meantime, 13 apps, dipping, exiting position and pinterest cutting stake in amazon and facebook you can read about the moves on cnbc.com/pro mean time, watch peloton, a volatile month following recall of the tread plus products nearly 7% rise on thursday following a 14% drop on may 5th. today down again more than 4%.
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the largest laggard on the nasdaq 100 "techcheck" returns in two.
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reporting about bill gates,
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his divorce from wife melinda gates and tenure at microsoft. "new york times" reporting gates made multiple sexual advances while still married and on the board in microsoft in 2019 one case investigated after being in a relationship with an employee his relationship with jeffrey epstein contributed to his divorce. a suppose persson disputed that characterization saying the claim of mistreatment of employees is also false. rumors around his divorce are becoming absurd and those with so little of the situation are characterized as sources carl when we come back, who is joe biden venmoing we discuss that after the break.
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meantime, watching micro strategy caught up in the crypto vola volatility shares down better than 7% this morning. te company with about 5 billion onhe balance sheet. we're back in a moment.
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get back to the news of the day. discovery's mega merger with warner media, of course. looking at the telco side of
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this historically, mike and what some say has been a frustrating period of stock performance? >> for at&t for sure, carl over the span of time when at&t first sought to by time warner up to now. definitely under performer against verizon the other big incumbent wireless carrier a look at 2016, 2018 first made the bid for time warner. you see verizon flattish over that span. big underperformance from at&t although a comeback in the last year closer to parity all the businesses are, data network who want to put as much content and data over that network to get payback from having installed it. whether fios sharing or customers, having proprietary content was try it had by verizon and at&t now that's being unwound and at&t going much bigger
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not getting rid of it, hiding it, letting shareholders keep a piece of it. what else changed? these stocks against t-mobile. t-mobile and sprint allowed to merge. perhaps a changed industry economics, maybe reduce turn structurally for the whole industry t-mobile a huge winner and perhaps a more rational industry one to reinvest in networks and not necessarily seek the content solution to reduce churn, guys. >> you know, mike, going back a long time. shareholder constituencies around names like at&t used to call them widows and orphans. did that change, do you think, getting into the new growth businesses and does this go back >> certainly changed to some degree i mean, a mismatch between the share holder base arguably focused and dividend and those looking for transformative media businesses, to be incorporated in there i do think it's interesting. of course, coming along with
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this implicitly reduction in the payout payings $15 billion a year to shareholders kept is steady for years even though the market, the yield on at&t shares higher the market saying, we don't know if that's very much a robust and lasting dividend here it seems perhaps it hasn't been. >> mike, what does this tell us about what shareholders think teleco can do or not do with media? do you think this is sort of an indictment of the space, and it will be hard to see any future deals, or, you know, we could see greater scrutiny of telcos trying to do media >> i don't know it's the game over seems to be cyclical, people decide there is wisdom in marrying distribution and content. there will be a lot of skepticism remaining but there already was. go back to sort of put ourselves in the mind of when at&t did first decide to make this bid
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for time warner. i don't think everybody embraced the logic of it at the outset. now, sure, it's a great asset. why not own it, if you can afford it. in terms of being sinnerynergis not sure about full buy in along the way. >> thanks. a great wrinkle in that story. mike santelli. and apple executives expected to take the stand in the coming days. that's next. meantime, watch a software company going public in late april. shares up this morning following multiple initiations and the street basically split oppenheimer has a perform rating, wells fargo equal wait > y.ham follows the bu >>stay with us.
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apple execs expect to take the stand this week as the trial continues with the balance of power in app stores at stake josh lipton has more. >> reporter: jon, it is tim cook's time to testify here. the headline making an antitrust brawl between apple and fortnite maker. it's expected to testify about apple's corporate values, business and operations,
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development and launch of the app store, and competition faced by the company this is a high-profile moment, but he's also a tested veteran at this point. in addition to cook, apple's phil shiller is checked to take the stand as well. he oversees the app store. he's served for over two decades as the company's head of product marketing. it seems that epic hasn't been able to land a big knockout punch yet. of course they were always going to have a tough time the burden of proof is on epic, and the judge here has signed on the side of apple in the past. >> my sense is this is about mainly two things. is the app store a market unto itself can epic successfully argument
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that apple has a mo in the hospital reply and can it separate processing from all the these things and should they be allow to charge apps a la carte. >> they have a big purpose here. i think apple has a counter, of course, and a relevant market is a much broader market. you can play fortnite, they'll say, on all kinds of devices and platforms. their point being there's a lot more competition, and that 30% cut, apple will make the case we've dropped about $100 built onto build and maintain the store. we're justified? taking a fee we'll find out soon
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enough what the judge thinking about that. >> and other companyies hesitant to criticize apple because of the those app stores dom, put us in perspective it's been extremely volatile the movements were seeing today, yes, they're significant, but not nearly as bad as some of the dips we saw last week. the nasdaq composite off by about 1% at this point here, the fall we have seen from the report hide levels earlier this year is roughly 6% at this point 6% is pretty okay, but it was 9% at the depths over the last week within that technology trade is to watch the underperformance. time it's being the most
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significant, important, highest-weighted part of the s&p. meanwhile, the technology sector spdrs are only about -- and within that technology trade, the stocks driving the downside action, the most important ones are the ones we have come to know apple is down 6%, microsoft down about 6%, and paypal and nvidia both down around 10%, to 12%, that down trend has been exorbitant they'll drive a lot of the action, as you watch it trade out, a lot of bulls are hoping it's not reminiscent of what we saw the last couple weeks. >> after the run they had, i guess even strongest bulls get tired, dom
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thanks. now goldman sachs says this basket of chinese stocks is poised to soar real more on cnbc.com/pro. meantime, the chip stocks adding to losses that had the sector and smh lower bush 80% of the mdx is in the red. "techcheck" back after one more quick break.
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palantir shares have been volatile, but they have almost tripled since its debut. now opening a new practice with a civic thesis working for national security position transportation, infrastructure, even education, the practice will be based in miami the partner tells me it's the city's recent embrace of tech that led to the decision i caught up with her and the mayor suarez
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>> movie is seeking a big presence here, and we think apple will, too, but frankly for me, and i think what's exciting, you keep seeing these announce ment this is a massive fund. >> you can catch the full interview in our twitter and linkedin pages, carl. >> just one more chapter in florida's resurgeonants. in the meantime we're watching ven mo buzzfeed has found president biden's venmo account. the times mentioned he had sent money to his grandchildren v venmo has confirmed that their
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accounts are no longer attached. the story is fun, but it does vise some concerns about user data and privacy get ready for the retail numbers. we'll start tomorrow for now, let's get to the judge, and the half carl, thanks, welcome to "halftime report." front and center, whether it's time to start buying stocks again. we debate that tiffany mcgee is the ceo and c.i.o. and good to see everybody. following the volatile weeks the s&p since late february, there's your picture joe, i can't help but wonder if some of the activity is somewhat skewed because of big media deal stocks are reacting in certain sectors.

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