alix: what happened to marissa mayer. on street is that she would not be a part of the company. her tenure, can you talk to us about it? but ite the alibaba ipo, was not the worst thing in the world. she is going to go down as the most overpaid ceo and tech history. -- in tech history. if she leaves of her own collision, she leaves $55 million on the table. she has been a dead man walking since -- this is over. they will give her a peace with honor. this is a series of watched acquisitions. -- series of botched acquisitions. andcrease in revenue of 20% she is walking out the door of a quart -- with a quarter of a billion dollars. the best of luck to her but this is the end of her reign at yahoo!. some much bigger tech companies who are going to announce like alphabet. it has been somewhat of a juggernaut. are there some headwinds? some problematic issues they are facing, the cost of maintaining the traffic? you mightheadwinds see ship -- do you see some headwinds showing up? scott: you would argue that people are spending

ceo marissa meyer.p next, $4.8 billion a steal, we will focus on what verizon gets out of this deal with the executive vice president and aol ceo tim armstrong. all fingers point to russia in the democratic national committee hack attack. we will hear from the director of cyber security and policy. this is bloomberg. ♪ emily: now back to the deal that kicked off the week -- verizon's purchase of yahoo's operating business. verizon's president marty walden and tim armstrong joins bloomberg . take a listen. >> one thing that we have done is collectively come up with large-scale goals for the company. we really want to be competitive in the next generation of how digital is taking over the world from a consumer media standpoint. we let out a set of 2020 goals, and a main goal is to get the 2 billion consumers. the yahoo! brand is excellent, and the team is excellent and it fits into the larger strategy that verizon has. from our standpoint, if you look at what we announced 12 months ago on the original

we'll talk to marissa mayer in a few moments. the dnc kicks off amid country controversy over leaked e-mails. the ceo will join us in the next hour first up verizon announcing the deal to acquire yahoo!'s core business for $4.8 billion in cash. verizon plans to combine the internet asset with aol. the real estate holdings in that action. marissa mayer will join us in a few moments once that conference call ends. wow. this day has been a long time coming, jim. >> yeah. and i think that the -- i remember speaking to lowell mcadam many months ago when he said this could happen and a clear vision if you gave it to tim armstrong they could make something of it. i'm excited. maybe it will be back like the old days in '98 and '99 when yahoo! was the leader or not -- >> you mentioned mcadam in february, a reminder of what lowell told jim on "mad money." take a listen. >> we said we would look at it. i think their board has been very responsible how they're doing this, very deliberately, very logically and we have to understand the trends

he be a replacement for marissa mayer?stry generically and came up through verizon. more recently, she has transitioned to work with tim armstrong, sort of the idea of wearing mobile video with advertising. contractsgotiated with content providers. , sports and all sorts of different content. will be on that in general in conjunction with tim armstrong to build the digital platform out. subset.a small this is not going to be verizon as we know it. that's small portion of what verizon is worth. before we ask you what melissa meyer is going to end up doing next, let's listen to an interview with emily chang. >> immediately, have two priorities -- seeing the transaction through the close but watching the value of our asian asked that's. we will ultimately figured out -- our asian assets. mark: how long will she have to for fill those priorities? alex: this deal will have to close and yahoo! will have to do what it wants to do with its stakes. it did not sell its non-core intellectual property, so marissa mayer will theoretica

ceo marissa mayer there.f next, we will dig deeper into marissa mayer's tech legacy with an exec who was there from her formative years at google. -- $4was $4 million billion a steal? what verizon gets out of this deal. plus, sprint posting its 16 straight quarter of subscriber gains. investors to get is a sign of progress for the ceo who has been using aggressive promotions. this is bloomberg. ♪ emily: picking up on our top story, the end of yahoo! as we know it -- after months of speculation, verizon is buying and for the time being, seo marissa mayer is not going anywhere. our guest worked alongside marissa mayer at google, and also joining us, the former head of yahoo!'s global business department, and with us for the bloomberge hour, hour contributing -- our bloomberg contributing editor. you know her very well. this was the outcome she was opening for in the beginning all these four years ago. how much of a success or a failure is this outcome for her? >> yeah, i think it remains to be seen what happens

marissa mayer was on squawk on the street earlier.at she said regarding her feature at the company. take a listen. >> i plan to stay. i love yahoo! and i want to see yahoo! into the next chapter and i'm looking forward to working with him again. >> this played out as you said it would. interesting for marissa mayer making an open bid to stay on putting them in an awkward position. what do you make of it? >> i think that's her way of saying she's going to stay on through the transition and she has been paid to. she hopped them up on money to keep them there through the transition which is important it's just words and they're being polite. >> okay. i didn't interpret it as being polite but i'll take your interpretation over mine. what do you make of verizon's chances in making this work based on what they have done thus far at aol and it's the digital efforts and video and mobile video. they're competing against not just other phone companies like at&t and google and apple and facebo facebook. >> it still has enormous scale and they ne

we'll talk to marissa mayer i a

marissa mayer spoke to emily chang shortly after the deal was announced.y the transition isn't about being strategic for yahoo! but unlocking value for our shareholders in the remaining equity stake. opportunity to kill two birds with one stone, so to speak. scarlet: it has been a difficult right for yahoo! over the last couple of years. this deal took forever to put together. amanda: marissa mayer charge with turning this country around this company around in the best she can do is rearrange the transaction and hope she can keep her job. hit $4.5o! first billion in market cap in 1998. the actual market cap is 38 alien dollars. pretty extraordinary round-trip for that company. you think of the enterprise value they are hanging onto, it's an extra ordinary price. we will see whether aol can take another run at another future with another partner. got detailslier, we on how verizon will absorb these parts of yahoo! with the executive vice president and president of product innovation and the ceo. >> the yahoo! brand is a brand, the yahoo! team is an excellen

marissa mayer, the c.e.o., will receive a pay out worth $57 million but marissa mayer said she wants to stay. this morning, on social media she said she loves why who and wants to stay to see it into the next chapter and the deal will only be finalized in the first quarter of next year when yahoo will change their name. it will be publicly traded company, and will reportedly get rid of their core internet and mail services, husband -- the website, and gives your done control of content and advertising technology and will exist only as an investor in your who japan and alibaba. the company was founded in 1994. it struggled with the rise of google and facebook. top executivives from google, switched to become why who's c.e.o. and have tried to revive the company but it is considered a pioneer of the intent. verizon is the largest telecommissions company in the united states and they bought aol last area. marissa mayer released an e-mail this morning saying and i quote, "yahoo is a company that has changed the world and now we will continue to with on a greater scale in combination with

a big question during the acquisition, the fight of marissa mayer announcing on tumblr she will stay. >> opponents of the warriors new arena in san francisco are keep ing their fight alive with new attorneys who say that the group is launching an appeal. they are arguing a you will radioing by the superior court judge who found environmental view of the site was "adequate." that cleared the way for the new aran project to move forward. the warriors low pressure to breakdown on the new facility next year and have it open in time for the 20 unanimous season. >> speaking of the dubs tomorrow is the first chance to seizure rants play at oracle arena since signing with the warriors. tonight the olympic game will be a rematch of the team u.s.a. and china game, with team u.s.a. blowing out china by 49 points, the second straight blow out win and durant got 19 and klay thompson has 17. remember, we want to see your pictures. share them using #abc7now and we could show them on air. >> history taxis flight, the midair milestone reached in a matter of hours and thousand the bay area is connected

marissa mayer says she plans to stay on.se ii has become the first aircraft to fly around the world powered only by the sun. the plane touched down in abu dhabi, 80 and have a 35,000 kilometer journey without burning a single drop of fossil fuel. very, very impressive. global news, 24 hours of a public -- powered by 2400 journalists in 120 countries. this is bloomberg. yvonne: thank you. the democratic national convention has kicked off as the party grapples with the fallout of the e-mail leak and well today it seems they are united together, the convention opened with protests from bernie sanders supporters. let's go to our bloomberg's politics reporter who joins us live from philadelphia. we were expecting a much more quieter -- much more quiet democratic convention but not the case now. bernie sanders supporters seem to be ignoring his plea for unity. reporter: the theme tonight was supposed to be unity, but we heard loud cries from bernie sanders orders just ahead of the vermont socialist senator's primetime speech where

marissa mayer wanted to stay on with yahoo! she investigated the routes with that.the end, it looks like verizon will acquire this. verizon will most likely acquire the entire line, and marissa mayer will not be coming along, and tim armstrong, the former aol ceo am a will run a combined yahoo!-aol. david: bloomberg colleague alex sherman. gene munster is overweight on yahoo! sales. gene: time is of the essence here because the real value is unlocking yahoo! japan, alibaba, in a cache-free transaction. he really need to get that done before the election. i think this is a good outcome, and obviously some of this a few have been reporting on, their alignment with verizon would make a ton of sense. seniorpiper jaffray's research analyst in munster with a target on yahoo!. one analyst will draw the connections between pizza and the presidential election coming up. this is bloomberg. ♪ david: welcome back to "bloomberg markets." -- mark: welcome back to "bloomberg markets." i am mark crumpton. we want to get back to news out of germany. a shooting, one at a shopping mal

marissa mayer says she is staying on as yahoo!ef executive after verizon's buyout to manage the company's $40 billion in remaining asian assets and ignoring his pleas not to protest the democratic convention opens the iraqi of booing at the first mention of hillary clinton. following on twitter. that is my handle @rishaadtv. low pointngapore at a in the taipei on that line. here's a look at what is going on and having a look. seems like the bears at the moment, have to have some. >> the selling certainly appears to be back. we have the fall of record highs on the s&p 500 during monday's session in most asian markets following that lead, particularly the nikkei with crude trading at a three-month low. malaysia coming online done 1/10 of 1%, singapore up one half of 1%. we had singapore with factory outputs do today. hong kong in the philippines coming through with trade. korea is pretty flat. we have seen a little bit of an expected read on second-quarter gdp coming through, .71 -- .7 of 1%. the market is doing quite well coming un

emily: what about marissa mayer's future? do we know yet? >> after the sale, it is kind of doubtful she would stay on board. whoever comes in might want their own management team. there are different pockets of assets that bidders are strategically positioning for. it is very dicey. emily: all right. we are going to continue to follow that, of course. if final bids came in, we are expecting movement in the next eight weeks. jitendra, thank you so much. yahoo!'s reports almost coincides with marissa mayer's four-year anniversary on the job. we decided to take a look at mayer in 2012 when she stepped in the role. here she is after becoming ceo. >> we know that the next pintrest, spotify, or facebook is in the audience. i am thrilled to be here with yahoo! as a sponsor. i would like to give a shout-out to the designers and engineers that we are hiring. [laughter] [applause] emily: now she has done a lot of hiring and firing as ceo of yahoo!. what else was going on in the valley four years ago? let's take a look. it has been four years since mar

marissa mayer could not make the pivot this company and you see the ugly numbers as a result.ms of where they are and they have had will -- wonderful sales and subscriber growth as it expanded overseas. that's been a great wind at their back. it seems that subscriber growth is all that anyone compares about so, look for that stock to move on, it's -- it shifts withvely of or down declining sales and services. a problem with we continue to look for the size of the , but haven't them. -- emergings, haven't seen them. coming up, the impact of brexit and the 2016 presidential election. this is number. ♪ 3 p.m. in new york, 8 p.m. in london, and eight a.m. in hong kong. i am vonnie quinn. >> welcome to bloomberg markets. we are covering stories in chicago, new york, and istanbul. here are the top stories we are watching. stocks are edging higher thanks to some encouraging headlines, but can we expect more volatility the summer? >> then turkish president aired on -- turkish president aired a gone -- turkish president erdogan -- >> in the aftermath of that failed coup, christine laga

and marissa mayer. how will the deal shake out?is bloomberg. ♪ vonnie: you are looking at live pictures of the floor of the republican national convention in cleveland. ."is is "bloomberg markets shery: time now for the bloomberg business flash. the largest technology merger in , dell's purchase of emc cleared a major hurdle today. 90% of shareholders approved the merger. vonnie: the obama administration has announced new policies that allows homeowners to use property to pay for energy efficiency upgrades. federal housing administration also issued a guidance outlining andhomes can be purchased refinanced with an fha insured mortgage. media websiteial teaming up with the nba in a deal to develop original content that will run on these platforms. two weekly shows exclusively on twitter as well as replace and behind the scenes video on ineing and periscope -- v and periscope. republicans are gathering in cleveland for a second day of their convention. some of today's headliners include paul ryan, mitch , dr.nell, chris christie ben

marissa mayer spoke about what the deal means for her future. >> i certainly plan to stay.yahoo! and i want to see yahoo! into the next chapter. and tim and i are old friends and colleagues and i very much respect him and am laooking forward to working with him again. >> what does this mean meal for the future of marissa mayer? let's bring in erin griffith. >> she says she wants to see it through for the future, that's different than staying at yahoo! for the rest of my career. when aol sold to verizon, it took two months to close the deal. they're saying it could take six to nine months to close to deal. so marissa that has to stay at least for those six to nine months, but after that, i think it's kind of up in the air. i don't necessarily see her joining. >> like andrew ross sorkin was saying, that if she was pushed out, let's say, by tim armstrong, it would be a $57 million golden parachute clause. that's pretty -- >> but would it be pushing her out? i think this is the odd situation, right? it's a public company that's going to continue to exist, of which she is the ce

marissa mayer plans to stay on. india has alternating execution between computer and manual orders they could implement the final guidelines in about three months. this comes after a call for tougher action to slow down hft. that's high-frequency traders. lee has pulled out of talks to take control of the video streaming service. they failed to reach an agreement on price. whyi is here to talk about this deal fell through. it really does follow some shareholder activism that we saw. haidi: it all came to a head last week when this open letter was published. in the letter they basically saying that this offer the came through from robin lee, it was something of a sweetheart deal. this particular firm has said that this is to the detriment of the shareholders because he is getting a profit to the detriment of the others. if they hang on to the business, and it is a netflix like service in china, then the benefits would greatly outweigh any short-term benefits from this deal. they are trying to spin off some of these a

. >> marissa mayer has had a really strange run here.ame in as one of the celebrity ceos that tend to get a lot of focus. like the jack dorsey, steve jobs, fill in the name. these name brand ceos that people have these perhaps too big expectation on that they can make a huge difference. guy, you have known a few big personalities out in the valley. how do you rank marissa mayer's tenure n the lead-up and for a lot of people, letdown. >> well, to tell you the truth, it's not a hot topic out here. i don't think anybody cares anymore about this. so i think this is an impugning of the halo effect that early employee at google, therefore, you must be insanely great. you can lead any company to victory. lots of things have to go right for anyone. even steve jobs could not succeed in his next company next. so the halo effect has to be checked. got to watch out for correlation and causation. and she was put in a very difficult job. and apparently, she didn't succeed. >> and a lot of the metrix -- >> that's how it goes in silicon valley. >> a lot

. >>> marissa mayer want to stay at yahoo!. verizon, non-committal. up next, former interim ceo of yahoo! ross levenson, his choice to weigh in and do it exclusively, new at noon on the "halftime report." there's a lot of places you never want to see "$7.95." [ beep ] but you'll be glad to see it here. fidelity -- where smarter investors will always be. if only the signs were as obvious when you trade. fidelity's active trader pro can help you find smarter entry and exit points and can help protect your potential profits. fidelity -- where smarter investors will always be. hthis bad boy is a mobile trading desk so that i can take my trading platform wherever i go. you know that thinkorswim seamlessly syncs across all your devices, right? oh, so my custom studies will go with me? anywhere you want to go! the market's hot! sync your platform on any device with thinkorswim. only at td ameritrade >>> it is official. verizon buying yahoo! for $4 billion. a one-time sill con valley heavyweight, one time during the height of the boom, capped $125 billion. fo

i asked marissa mayer about the nfl, which yahoo already has a relationship with. the nfl will offer the international rights to the league soon and games will be played in london and china. with the aol/yahoo combination it could be worth a fortune to verizon. could you imagine a package you get signing up for a new wire little customer. how about if it is just the beginning. verizon is printing money with the business and social media. maybe they can become the de facto digital newspaper magazine of the world. make it available ad-free to verizon users. twitter reports tomorrow. what if verizon rolls up this with aol and yahoo creating a platform that is interactive. don't you think adding twitter would give the verizon the edge they need? obviously the question on everyone's mind is did verizon overpay for yahoo given the lack of growth? i say no. i think if every one of yahoo's verticals can be revived easy. entertainment and finance, they were just left by constant management changes. a sense there was no fun there whatsoever. if internet adoption is in the ea

marissa mayer will -- the transition of the sale to for eisen.bloomberg. ♪ ceoie: semi wants to remain of yahoo! or what is left of the company. emily chang spoke with her earlier in california and joins us now with more. what was your main takeaway? emily: the first question was how did you arrive at the decision that this was the best home for yahoo!. this was the best place at the moment and they were also maximizing volume of access to spin off the core vision. also. that would scale that horizon brings to the table -- for eisen brings to the table. just verizon brings to the table -- verizon brings to the table. >> overall, i think it represents a huge amount of opportunity for verizon. emily: we know mercer mayer came into the job years ago with tremendous hope and possibility and people were out there who said she was taking on an impossible job. she is proud of what she guns and she feels personally very the outcome. people out there said yahoo!'s business was worth less than you zero. -- less than zero. she believes she can still see the

ceo marissa mayer attempted a attempted a turnaround now over. >> you don't look at this as a failure >> i don't, not at all. it's really hard to build a business, it's really hard to take a company that was so predominant at a moment in time, yahoo was coming to change the world. >> reporter: four years ago, a 37-year-old mayer was brought in to do what many thought was impossible, save yahoo. she spent billions acquiring startups and expensive talent like katie couric. mayer famously begaanned working at home after giving birth to her first child was back to work in two weeks, building a nursery next to her office. >> i think that in the future marissa will be judged as a failure and i think that's not fair. yahoo was a broken company when she arrived. >> mayer insists she's staying on for now. >> i love yahoo and i want to see yahoo into the next chapter. >> verizon will take over yahoo's e-mail and other products but mayer is expected to leave eventually with a reported $55 million golden parachute. >>> and the woman speaking at the dnc and her message tonight for donald trump. th

. >> also, what marissa mayer vowing to stick by her company despite today's shake up. >>> and residents are using these signs to protesty plans to turn their favorite park into a tennis haven. >>> and good afternoon. i'm jeff ranieri. a hot 95 in walnut creek. we have an even hotter forecast tomorrow. details in a few minutes. company -- has been sold. so what now for yahoo? =vo= >>> an iconic silicon valley company has been sold so what now for yahoo!? they made it official today. it's being sold to verizon for $4.8 billion. now, yahoo! was once worth more than $120 billion. eight years ago, it was the target of a $47 billion buyout from microsoft. but a saers series of misseded opportunities with competition from google, facebook and snap chat made it less relevant. marissa mayer says there's still life in the company. >> the moral of the company and energy of the company has been strong throughout. real period of uncertainty the past few months. >> if she leave, she would collect a reported package of 50 and 60 million bucks. verizon owes long time yahoo! rival, aol. >>> an angry pro

ceo marissa mayer who tried and failed to reinvent the company.loomberg business flash. lacqua, i'm sorry. was one of the street is talking ceos -- haveghtest talking ceos we talked to. francine: the problem is when you look at the share price, i don't know whether investors are expecting too much. shareholders thought he could have done more and wasn't focused enough. tom: i think it's a problem of impatience. joe quinlan of u.s. trust is with us. outlook sherman's brutal. look at the stock when she took over. look at where the stock is now. i don't care if she did it, you did it, i did it. i'm sorry. she should be taking a victory lap today. >> she has done a good job given the hand she was dealt with. it's very difficult for any ceo to navigate that. tom: bring up colegate. we are talking equity markets. there's yahoo! in purple. a noticeably brighter portfolio. are you kidding me? what do you do with this? these monsters are trading at nifty 50 multiples. >> if you own it, hang on to it. this is a great example of a company that lived off glob

what about marissa mayer? if verizon was a winner, marissa mayer would not likely stay on. and tim armstrong would run yahoo! what do we know? alastair: she had a very tough job, i would argue, running yahoo!. i imagine she is going to be looking elsewhere afterwards. i suspect almost any tech company would have her. emily: exactly, what is next for her? this should become, does she going to venture capital? does she go to run another big tech company? alastair: i think she will probably pass on an opportunity to run a big legacy technology company. she could maybe, she would be a great venture capitalist maybe for a while. i suspect longer-term she is going to be running a big tech company that is hopefully growing this time round. emily: i know she does have a passion for new products. before she joined yahoo! she did a lot of angel investing on the side. neil, what do you think her reputation will be on the street after this is said and done? neil: fairly mixed she came into yahoo! with a whole aspiration to really grow this business. all t hat's happened is that revenue

it's unlikely marissa meyer will stay on board. stands to make $50 milli million -- she's already earned $100 million in cash and stock over her four-year tenure. last week, yahoo reported the decline in earnings over the past seven quarters under meyer. the stock is up in the past three months. once the sale is complete, yahoo will become a holding company in yahoo japan and alibaba. analysts say the majority of the market comes from. back to you. >> the majority of their value of $36 billion hinges on alibaba and yahoo japan, which some say is worth $8 billion as a business on its own. we'll see the future and what it holds as a holding company. thank you, landon. >>> other news, tesla and solar city are close to a merger agreement. elon musk is the major shareholder in both companies. they're in the final stages of carrying out due diligence. tesla announced it made an all stock offer for them worth $2.8 billion. solar city evaluated the bid but has not publicly responded. >>> in other corporate headlines, shares of nintendo get

to not be invited raises eyebrows and we all know that marissa meyer was not invited from yahoo. one of the reasons all of the moguls here are vying to buy a portion of yahoo or buy yahoo all together. so perhaps keeping marissa meyer at bay was a smart move, but i'm going to butcher the famous quote but hell have no fury, be very careful about sending those invitations; right? so that's one issue people are talking about. the other issue has to do with the future. now, we were talking in the last hour about brexit and people here were talking about the impact on the economy, the congress secretary is going to be talking about that with people, she's actually here. but the other issue is how do you take -- this is also very big media. how do you take what's going on in europe and then continue to grow this new industry? because people are making their own videos, their own movies, their own tv shows outside of the traditional model. a man who is very famous for what you might call creative destruction had a few thoughts on that, and he thinks it's a good thing overall. here's wha

team and with marissa and her team.aking a lot of time with, with verizon is integrating the cultures together. today we are much different company. we did the millennial deal and the microsoft deal, now we are announcing the yahoo! deal. we have many cultures coming together, it's really important that the yahoo! team who bleeds purple, they love yahoo!, it feels like our commitment to the yahoo! brand in the future is an important aspect of this. forward three years, i think you have to see revenue growth, profit growth, but more importantly, culture growth. from our standpoint, the people coming together and working properly together and excited for the future is the most important aspect of the deal. >> considering there is so much pressure from yahoo! shareholders, and she was not able to turn the company around, had to resort to a sale, makes a case for want to keep her in any kind of role side of transitory? >> this process has been completed different than what we did with tim and the aol team. it's important we

and marissa mayer negotiated a deal which ended up being the default search engine, which turned out to be very favorable to mozilla, not very favorable to yahoo!. that is adding up. particular sales process and what the company will be accounted for. ctainly not what you want to hear. david: you can catch emily later on bloomberg west. she will be discussing terrorism, media and tech at six p.m. eastern, 3 p.m. pacific time. stocks remain mixed. judy hyman has more. julie: we have the dow now gaining three points, any gain would mean a record close for the dow. the nasdaq also losing some ground. it is a summer friday. the s&put 16.5% for 500. we did have some mixed economic eta. economic data. movers wef individual have seen some pressure on consumer discretionary, specifically media stocks. saying that the environment for tv advertisement is going to be to half in the second half of the year. stock is down 3%, you can see the discovery down 2.5%. we heard more from the big banks in terms of their earnings, citigroup, and wells fargo. citigroup started higher. they came in above es

for verizon, tim will leave the integration for us and we will --k closely with marissa melissa and herm and make sure we have the best integration. >> most deals fail because of a culture clash, because they do not get integrated. yahoo! from -- comes from a silicon valley culture, versus verizon that is east coast. --i would update everyone on we have a huge presence in silicon valley and i started my career working for paul allen .nd the cofounder of microsoft that is when the west coast started to take off for consumer internet and i spent my time shuttling between new york and california. i think we are uniquely positioned as a company and a management team to understand both coasts. we call it culture in code at aol in the real culture of new york mixed with the culture -- the code of silicon valley will .ake us successful uc los angeles popping up in the work in new york and london and paris. i was at this attack -- i was at vivitech. i think what you are doing is bringing the culture and code together and we are the best positioned company to do that. emily: that was the executi

not marissa mayer. she is not on the list this year.this is from last year or 2014, perhaps. part of this has to do with this conference also doing with dealmaking. a billion-dollar deal. a good bottle of wine here. unable to strike a deal through yahoo!. she is not here. who is here? well, the biggest names. we saw michael dell. remember dell computer. we have seen paypal. a ton of politicians. one of the speakers this morning. economic issues. what you and i want to talk about is money. putting other deals together. mr. diller, who is known for disrupting television in the past, is still disrupting things. hopefully with a profit in the future. he spoke to us about what is going on in the future. if you want to produce something and sell it to television or a web distributor, you can cut out the middleman. i.e., the distributor. >> the internet, where you can publish direct without going through anybody, it you can use all sorts of devices to do with. will allow for the first time to not be dominated by distributors. altogether, healt

what we have heard is that marissa mayer will not be joining. armstrong will be running a combined who and aol. alex sherman, m&a reporter for bloomberg news. thank you for breaking down that for us. still ahead, we will dive into the $3 trillion etf market. we are exploring videogame and social media funds. that is next. this is bloomberg. ♪ >> live from london and new york, i am a rhgh. vonnie: i am vonnie quinn. -- >> i am nejra cehic. vonnie: i am vonnie quinn. it is time or our latest segment on exchange traded funds. julie: with me as eric balchunas. donald and hillary clinton differed on more than just the issues, but personal investments differentow totally approaches. ats.balchunas covers -- etf's. you have gone through and see that they represent two different types of investors. donald trump just spoke last. what is his strategy reading into what he is disclosed here? >> he is all over the place. it matches his style. there are a lot of investors who have acutely stocks and funds in their portfolio. he owns dozens of mutual funds inve

just ahead the ceo marissa mayer tells us if she'll stay or go. >>> and good evening. i'm meteorologist jeff ranieri. a mild 71 in tiburon. how the fog impacts the coastal temperatures. a pleasanton neighborhood not happy ... after residents woke-up to construction fences around their beloved park. the notice? the park is about to be converted into teis >>> caught off guard a pleasanton neighborhood not happy after they woke up to construction around their beloved park. the notice, the park is about to be converted into conditions courts. neighbors are fighting back. peggy, what's the city's response? >> reporter: well, the city says they will listen to what the residents have to say but the group people met here at 7:00 this morning, blocked construction crews. they were set to begin building two conditions courts over green space the neighbors love. the people that live here now say they knew nothing about it. >> ask the city to come and tell us why you're doing this. >> reporter: construction crews were not getting past this crowd. neighbors rally together to save t

widow marissa has announced a reward.bi is also getting a reward for information that leads to an arrest. carol: staples makes a successful olympic bid. ♪ ♪ carol: welcome back. david gura is on assignment this week. how staples may end up bringing home olympic gold this summer. i spoke to evan about the company's road to rio. evan: staples is an underground juggernaut india lithic merchandise and apparel world. they are one of two companies that essentially has exclusive rights to make all the cobranded olympic apparel for sponsors. we are talking about t-shirts that visa gives its employers -- employees with the olympic rings and lisa logo. -- visa logo. sponsored athletes from hershey's is wearing a shirt. all that stuff is made by staples. it gets weirder. there are water ball, hats. lisa is making a six foot -- visa is making a six foot surfboard provided by staples. carol: there are a ton of a big sponsors. staples is responsible for all that merchandise connected with it. evan: there are 40 u.s. olympic sponsors. t

. >>> and a snub for yahoo's ceo, marissa meyer. she did not score an invent to the summer camp for billionaires in idaho that typically draws high-profile attendees such as apple's ceo and tesla's elon musk and facebook's mark zucker berg. >>> the so-called gig economy now described workers who use digital platforms to make money but regulating it is an ever to ear growing challenge. people in the gig economy account for more than 5% of the workforce in san francisco. >>> l.a. and the bay area may be known for heavy traffic but california is known for having some of the safest drivers. the data was looked at from 2008 to 2014 and with 8 deaths among 100,000 people, it takes a top spot for states with the safest drives. >>> and what is cool about your school or summer camp? email us and we may feature to your cool school or summer camp on the show. 've been with you from the beginning. we've seen each other through good times and bad. sickness and health. we're with you san francisco, and you bring out the best in us. care. zuckerbe

marissa mayer's future.t saying that quite yet. solar city shares up 3%, reportedly close to a merger with tesla. reuters reporting they're in the final stages of carrying out due diligence. questions were raised because elon musk is the ceo of tesla and the chairman of solar city. and he's recused himself from voting on this deal. today's democratic convention kicks off with an e-mail scandal and resignation and angry protesters as the ceremony is rocked by controversy. and this is not your father's democratic party anymore, stuart joins us now with more. good morning to you. stuart: good morning to you. let me qualify that, if i may. this is not your father's democratic party in terms of policy. i mean, it's really swung way out to the left. but it's your grandfather's party when it comes to the leadership thereof. i mean, it's still, speak of pelosi, it's still senator from nevada harry reid, it's still hillary clinton. these are names and figures from the past that solidified their position and they stil

alex: we have heard that marissa marissa mayer would not come along.ng other than a transitional role. unless something drastically has happened over the last week, i would expect more semi-or not to be coming along. alix: alex sherman of bloomberg news. verizon said to be nearing a deal to acquire yahoo!, they are in one-on-one talks. we have been hearing about this for the last seven months, and a deal could be in the next four or five days. david: there are good reporting. we want to bring in winnie executivebloomberg editor for legal. let's let go -- let's take a look at the legal hurdles. winnie: they have to in value if, and despite of how tough this in administration is being on looking at deals, there isn't a lot of competition. this is an like one of the cable deals. -- this isn't like one of the cable deals. david: market share is minimum. let's go look at health care and insurance industry, the justice department announced they are going to sue to block two really big mergers. at net and humana and cigna. would take the industry down from fi

marissa mayer said 600 million mobile user, a billion a month. if that's right, that's about three times the amount of twitter. does this deal for yahoo! at 4.8 change the valuation of twitter? >> i think twitter, you don't think so? >> i don't see how can't. >> it's a media company, it's determining how it's going to be dlifing and the products it's going tok exploiting. i think it's a bolt on if for somebody and it bbs more valuable that's something, for verizon, probably very interesting. >> i hope they don't go there too, now. >> p if you think about the direction they're going in, carving out exclusive and unique brand in this online space. >> just said we got to go to break. >> we go to break when you want to go to break. >> no, you're running this show. >> talking in my ear and i'm just doing what they tell me. still ahead, shares of gilead sliding a a bit after earnings and our all-star farmer reporter monitoring that call. she'll bring you the latest head lips. in the time meantime, here's what else is coming up on fast. ♪ >> okay. that

the deal is mostly a defeat for ceo marissa meyer brought in to turn yahoo! around. she was one of a long string of ceos. by my count seven. four in the last ten years. meyer, of course, from google. the next question is what happens to her. in a letter to employees, we just obtained, she said she's going to stay at yahoo!. she said, quote, i love yahoo! and i believe in all of you. it's important for me to sia hoo into the next chapter. the deal should take around six months to close. now the markets look they'll be fairly flat. the yahoo! deal isn't going to affect anything. it's been a long time coming. the fed starts the interest rate meeting tomorrow. >>> cnbc is reporting the tesla solarcity deal is going through. tesla wants to buy solarcity. and very few people other than elon think it's a good yes. musk is ceo of the tesla and chairman at solarcity. they're green companies but i don't see the connection. if tesla were building cars on time, had built according to demand, and everything were going incredibly smoothly, maybe it would be okay to take on a side

it could will -- well into the reign of marissa mayer. 1.5% of the close on friday after bloomberg news reported the deal was close to completion. it comes to years after campaigning for changes that yahoo! began. yvonne: thanks so much. speculation could be over soon. next, hillary clinton's turn to take the political spotlight this week. we will be live in philadelphia as the democrats gather for their convention, but we could see disarray. this is bloomberg. ♪ yvonne: it is 8:30 a.m. in singapore, a half hour away from trading there. you are watching "daybreak asia" . ♪ happy monday. i am it yvonne man. first word news. story, japanese exports fell in june, adding to concerns over efforts to revive the economy. , a trade surplus of $6.5 billion. the yen has made exports more expensive. warnings that earnings will be affected. verizon set to buy yahoo! for $4.8 billion. the announcement could come before training begins in new york on monday. the deal is set to include real estate assets, with and lecture property to be sold separately.

. >> does that mean that marissa mayer, to continue sort of your analogy, is the main engine that needs to be replaced? is she the one who solely led this company astray? >> well, it's never one person. i think marissa had great confidence and a desire to turn this company into something that she was familiar with at google. yahoo!'s not google. so i don't think it's just on her. i think you can look -- obviously, you have to look at the strategy. that involves the board and whatever senior management was around her at the various stages of this company, but, look, if you're the leader of the company, and i've been there before. you know, carol bartz when i worked under her, she took a lot of heat. scott tomps's took a lot of heat. jerry lange took a lot of heat. if you're the ceo of a big, high profile company, you take the good with the bad. >> ross, traders in front of me. many you know from sitting here. joe terranova along with josh brown and steve liesman. they have questions as well. >> you talk about strategic alines, verizon, at&t. marni has done a phenomenal job at verizon, fi

the next question, of course, is what happens to marissa meyer. she sent an e-mail to employees that said she would stay. the deal should take about six months to close. yahoo! is one of silicon valley's oldest internet companies. founded by students at stanford. yahoo! stock largely unaffected because the deal was baked in a long time ago. the markets should be fairly flat. there's a fed meeting starting tomorrow. and cnbc is reporting this morning that tesla and solarcity are close to going through with their deal. to reyou tesla wants to buy solarcity. very few people other than elon musk think that's a good yes. muc musk is ceo of tesla and chairman at solarcity. as analysts we don't see where the companies would match up well. particularly with tesla not building their cars on time. >> yeah. it will be interesting to see. is he trying to save them? >> solarcity needs saving. >> okay. >> saving sunlight. scott, thank you very much. >>> there are a lot of furry faces that needed saving than got it this weekend! the shelters have been cleared! t