turned whenk things they bought aol.merge those businesses, starboard pushed to merge, the activist investor, push them to merge and then aol sold itself to verizon and they both have a programmatic ad business they can put together and you marry that with verizon and their wireless video business, you could have an interesting mobile video product. verizon took on some content assets when they bought aol like the huffington post. but really, you are taking globals billion or so users and marrying the information you get with that and you have something interesting. david: emily chang is joining us from san francisco. i want to get your sense of what you make of that. emily: i think that's pretty incredible. we know melissa meyer has a long history at google and knows a lot of folks there. it would be an interesting investment for google to make. since been two months yahoo! opened this process and finally, the ball is starting to roll. a number of parties we talked to behind the scenes said they are getting the cold sho

tim armstrong and aol brought that to verizon.el content they know how to sell content here. tom: thank you so much. above having people coming to us from airport terminals, waiting for their flight. york, and a beautiful washington, bloomberg surveillance. ♪ . . francine: welcome back. it's "bloomberg surveillance." donkey is in new york, and we're looking at oil. let's get to the bloomberg first word news with caroline hyde. george judgment is stepping up the campaign to stay in the european union. osborne has come out with a analysis that is leaving the eu would shrink the british economy. the damage would be permanent because lower trade and investments. in germany, chancellor angela merkel is feeling the heat over the case of a comedian accused of insulting turkey's president. poll, twoto a new thirds of the germans surveyed think she made the wrong decision. she's depending on the turkish leader to help deal with the refugee crisis. saudi arabia will try limit the impact of subsidy cuts on its citizens. the deputy prime gran

verizon bought aol. there was a long-standing view that aol should combine with yahoo!ome a larger collection of assets. and they would be the logical front runner to do that. number ofd be any companies that want to take the search traffic currently being given to google or microsoft and bring that in-house or auction it off. be the right would management for yahoo!? if you were in charge, where would you put you? the main issue is they don't have the seasoned management teams you get in other sectors. what yahoo! really needs, what a lot of companies really need, is tough coo's, not visionary ceo's. a lot of the issues you've seen with internet companies in this last set of earnings and last year were around execution. there aren't enough seasoned managers in the space who know how to get things done to distribute among all the properties. francine: do you think it will end up going to an american company? you mentioned the chinese. richard: it is very difficult to imagine a company with large data center assets in the u.s. being sold to a chinese entity any more than

emily: verizon which owns aol and the huffington post say they will bid for yahoo!. do you believe verizon has a longtime content strategy that include yahoo! and the huffington post and if so, what is it? ms. huffington: verizon has decided, and that is, of course, the reason why they bought "the huffington post," that the future for them has to include a very robust media technology company. so yahoo! would fit very well in the strategy. of course, there is competition. with softbank and maybe google, so we will see what happens. emily: what are the synergies you see with verizon and the huffington post? ms. huffington: verizon has huge distribution potential for us, especially as we are moving more and more into video. they have launched go 90 which is their mobile video play and have produced and paid for great content from many providers. so this is fantastic for us, because it gives us great distribution. emily: what do you think about this whole idea of a wireless company getting into content? it is not just verizon or at&t. it's an interesting new world. ms.

and chop so much of the cost out of this, apply their discipline they've already shown they can to at aol and blend in the content with air rana huffing ton and this year, doesn't mean the brits won't go crazy and pay up to 5 billion. the rest of the guys it ain't going to happen, you need synergies and need scale and sales force and above all a big whacking stick. look what marissa mayer didn't do, she didn't cut costs and

we did not call it the internet, we called it aol.who has been involved in other conferences. tom: we showed this earlier, the green circle is where steve case. out, the green circle is where david kirkpatrick loaded the boat. i talk about the facebook effect. i am a huge fan of david. what is the effect forward for all of this technology? steve: david's book is a great example of the second wave. people are connected to the internet and the focus was building on top, facebook did not exist at the beginning of the second wave, now arguably the main media content. they can come out of nowhere and be a global giant, we will see other companies like that in the third wave. focusing on parts of their life like staying healthy and getting kids educated and consume energy. haveector of the economy not been disrupted that much in the first or second wave that they will be in the third wave but it will require a different playbook which is why i put pen to paper and wrote a book. francine: unclear what facebook becomes in five or 10 years. wh

cofounder of aol. always great to have you here.series hello world, bloomberg takes a fresh look at the explosion of technology around the world. sweden has the highest number of per capita unicorns. startups valued at 50 billion or more. one of the most famous exports is spotify. >> you have to set off on the path of doing tech and music. learn to play music. i got a guitar when i was about three or four. the computer was when i was five. for me it was all about games. just fun playing. how hard would it be to try to fix the games. coding games. i never had a normal job. when i grew up i did realize how you make money. yourself,omething that was just a totally foreign concept. valley, from silicon sweden has the highest per capita number of unicorns. always new money and fame. suiteuch of scandinavia, operates under a cultural code of conduct known as the gondola. philosophy that demands people do not think too highly of themselves. the people recognize you out on the streets? >> they do but because this is sweden no one really com

verizon which owns aol and the huffington post say they will bid for yahoo!.o you believe verizon has a longtime content strategy that include yahoo! and the huffington post and if so, what is it? ms. huffington: verizon has themed that the future for has to include a very robust media technology company. would fit very well in the strategy. there is competition. maybeis soft bag and google so we will see what happens. emily: what are the synergies you see with verizon and the huffington post? ms. huffington: verizon has huge distribution potential. we are moving more and more into video. whichave launched go 90 of their mobile video play and has produced and paid for great content from many providers. this is fantastic because it gives us great distribution. emily: what do you think about the idea of a wireless company getting into content? it's not just verizon, it's an interesting new world. ms. huffington: i think it's a smart move. the world is changing. it's the innovator's dilemma that if you don't change fast enough because you are a big successful com

with respect to selling aol, he went through kind of preparing aol for the ipo and has been through theestructuring, the layoffs and all of that. and so my sense is that he's sort of been there so they think of him as a capable executive to think through the restructuring. if you think about the synergies -- you're trying to pin me down on it, if you think about the synergies between verizon and yahoo! -- >> she's called one of the worst ceos in america, that is why i ask the question. >> i know you would love the interesting narrative. what would you have done? turnarounds are very few and far between. >> when she came in, people were already saying, look, this is the last chance. this is the last objective -- >> i would agree there were personnel decisions and acquisitions where capital was squandered. however, i don't think there's another ceo better suited -- >> what did she do right? >> well, shareholders are rightfully upset because revenue is down at lo. they are down 15%, 20%. >> that's an answer to what she did right? >> you just don't know what it would have been with another

paul: verizon bought aol. yahoo! and aol shared similar businesses. they have problematic advertising technology. the come with a large digital reach. betty: why would they want the objective paul: verizon's plan is to marry data with users. they have 100 million subscribers through wireless environ, you can take the digital data that you get from the users of aol and yahoo!, and marry that with this advertising technology that uses algorithms to show digital advertising, and that was a mobile video product which, her verizon has already introduced, that seems to be the plan, because her businesses are so similar, you can reduce a lot of cost. there is synergy with verizon that you might not get with any other company. i think that's why verizon is taken such a hard look at yahoo!. mark: what can verizon or google dotime or at&t or comcast that marissa mayer could not achieve? paul: the real challenge for any owner of you who is to try to get that core operating business growing, yahoo! has been a business that has seen its revenue decline every year

to add yahoo to purchase earlier of aol.icole: with the playoffs underway we will tell you who came out on top including an overtime thriller right here in new york. lauren: it's 5:31 right here on the east coast. it's monday april 18th, welcome to fbn:am, first look at morning markets, breaking news and what to expect for the day welcome for joining us. nicole: meeting of exporters collapsed without an agreement to freeze production. phil flynn senior market analysts, fox business contributor, expert on oil, all the oil ministers get together to potentially freeze oil put but iran doesn't show up so no deal, phil. phil: there is no deal. the russian oil minister says he can't blame iran, you can't blame for somebody not being there and the russians are blaming saudi arabia. listen with saudi arabia and russia that had the temporary deal in place, it was under that guide that the russian oil minister and the members from 18 or 19 other producing countries that showed up at this meeting and to walk away without an agreement i

aol cofounder steve case will discuss how emerging technologies will reshape the internet. coming up peter marx will tell us about the career of the late aig ceo who turned the company around during the height of the financial crisis. this weekend ellen malcolm will recall her creation of emily's list, a political action committee that works to elect pro-choice democratic women to political office. >> we did that because we want to raise early money, by raising early money, they can go on and raise the additional money they needed to win so we were like little political venture capitalists, going out there, we were the kick starter for women and emily stands for early money, we make the dough rise and we have been doing that ever since. >> afterwords airs on booktv every saturday at 10:00 pm and sunday at 9:00 pm eastern. you can watch all previous afterwords programs on our website, booktv.org. >> c-span created by america's cable television companies and brought to you as a public service by your cable or satellite provider. >> you are watching booktv. we are live from th

he put america on the internet when he found aol and now he is a leading voice in shaping governmentolicy on entrepreneurship issues. he's the author of a new book "the third wave." thank you for joining us today. >> great to be with you, becky. >> there's a tradeoff when it comes to the gig economy. it's something that has come up frequently in in the presidential election this time around. what do you think, are gig economy jobs good or bad for the american worker? >> they are good. as you said it is not just the gig but giving people flexibility. and not just for consumers to book conveniently but flexibility for people working. we have seen it a decade in the white collar jobs. people who are teachers for example by tutor, people are lawyers and become moms, maybe do legal work on the side. we are seeing it broaden and give the same opportunity to people in other fields whether driving car cans, cleaning houses, other things. a great thing for flexibility but a new concept. one of the things i talk about in the book is how work itself is changing and we need to make sure policies

givenverizon is serious, aol in june or july, it probably makes sense.ry hard to build from scratch and probably makes a lot of sense. >> there are certainly setting a calendar or timeline here. >> their moving forward with their agenda. adding the board realizes they need to do something just given the way financials of been trending the last couple of years. i think they are in a pretty good spot here. we'll figure it out. having the board realizes something has to be done. did yahoo! miss an opportunity at some point that there could be a different outcome or was this expected considering how the company -- made some of the moves it made? >> hindsight is 2020 but some of marissags that when mayer came in, she focused on mobile and video. she had made a slew of acquisitions. perhaps back in 2008, they would've seen the shift in mobile sooner. had multiplehas management and it's good to see some stability. the internet is moving so last. is when online advertising growing 20%, something drastic has to happen. maybe if they had been able to ,ee this and

i think some of the aol content things within the pipes have brought them value.ndividual pieces of yahoo! could be valuable. the right tumblr back? no, it was the right kind right t, but not the bet. tily: our conversation ouched on twitter. i asked him if it was fair to are downtwitter's user due to jack dorsey. had a nice run. the product did not innovate enough. they got to make moves. the product has flaws. i am sitting with you now because of twitter. it put me on the map. it changed my life. emily: what would you like to see happen? gary: it will make everyone understand netflix is not the only over the top network. facebook and snapchat are dangerous for everyone because anybody can play over the top on the internet. twitterit is the internet deal, something we will all look back on. 140 have to kill the character limit. it is a romantic point of view. a new speed.have it should default into not showing you everything and if you want to go the other way, cool. happens, which is what twitter is best for, they should go to old school breaking news. was faceb

aol co-founder steve case on how to ride the third wave of technology. >>> making it happen in motown. small business is leading the detroit comeback. meet the entrepreneurs revitalizing the proud city. >>. >> i wouldn't be anywhere else. detroit is my favorite place in the world. >>> filed your taxes yet? the deadline is monday. we have tips to stay out of trouble. >>> thinking of selling your home? we have the best month and even the best day to list it. "on the money" starts right now. >> this is "on the money," your money, your life, your future. now, becky quick. >> we begin with the gig economy. flexibility to accept individual gigs and the freedom to work on your own schedule. that's the promise of the on-demand apps like uber and postmates. others warn the sharing economy leaves workers without a safety net, benefits or employee protections. that's our cover story. ♪ >> if you have ever hailed an uber or lyft, rented out a room on airbnb or ordered a craft on etsy you participated in the gig economy. people getting paid for goods and services sold on a digital marketplace. mor

tim armstrong, who ran aol as a public company could run a combined aol-yahoo!on umbrella. if not, there is the possibility that private equity firms may partner with media firms, smaller media firms, to make a bid for yahoo!. "the wall street journal" reported that "the daily mail" was interested. we will find out on tuesday, when the dust will settle, when we will have some clarity. scarlet: you reference the possibility of pe teaming up with media companies. do we expect anyone to emerge from the woodwork? >> absolutely. i would not be surprised if we reported one or two names that we had not heard from at this point. that said, i have asked that question to several people that are very close to this sales process, and they have consistently told me, chances are the company that ends up by yahoo! has already been reported. you would hear another name or two, but whether it actually emerges victorious, i would say the probability is fairly low. alix: how do they want to value in the company? i read report that yahoo! was not able to give forecasts. how do you

if the acquisition by verizon goes through, verizon would replace mayer with top executives from aol. and if mayer is ousted, she could end up with a severance package worth $110 million. google was reportedly also interested but only mainly as a way to gobble up the audience and block out any rivals. after all this reporting about yahoo's potential sale, the stock police fell by .49, dropping 1.34% and ending the day at 36.17. first round bids for yahoo ar due on monday. we'll see how the opening bell rings in new york today. live near sunnyvale, kiet do, kpix 5. >>> let's check the roads. >> no. liz has nothing going on. [ laughter ] >> actually here's something going on! for the first hour it was really quiet. he's right. now suddenly we have a string of issues on 880. so 880 is our tough spot from san leandro down to fremont. two separate wrecks now both in the southbound direction. i mentioned that earlier one at decoto blocking one lane. another is at auto mall parkway. all this is causing a big backup from 92 past auto mall. around the same time in san leandro, a truck hit a po

and aol. last week, we are hearing yahoo! getting ready to divest all or part of its operations. the company altered the way a change of ownership would affect employee severance plans. they modify the definition in order to modify how severance plans will be carried out. thank you so much for that. australia, there you have it, falling a 10th of 1% as we see a broad-based selloff, including over in south korea. asian stocks fall. we are also seeing them drop in kospi, have as percent down. half a percent down. we are looking forward to the afternoon sessions in tokyo. the latest after this break. ♪ angie: asian stocks are retreating from a four-month high as crude plunged under doha.ess talks anin energy stocks are leading declines along with insurers exposed to the earthquake. china's home prices accelerated last month. prices -- new home prices climbed in 62 cities compared with 47 in february. the lower house of brazil's congress has voted in favor of impeachment. there were wild scenes as the opposition achieved the two

he was struggling as the aol ceo. he got an offer to sell the company for a 23% markup.trong is helping lead verizon. if she sells now, she can hop aboard the same liferaft that saved armstrong. lisa: a number of major companies are due to report earnings next week, including yahoo! on tuesday. joining us now from san francisco is emily chang, following netflix and yahoo! what are the big things you are watching from yahoo!? emily: of course, the bids are due for yahoo! on monday. tuesday, we will be watching earnings. as we've heard, we are starting to hear that the field might be narrowing. number one is verizon, they have been straight up about their interests. with it arianna huffington come which was bought by aol, which was bought by asked. -- i she would like to see yahoo! in the family and she said absolutely. >> it is a hybrid. it is a journalistic enterprise and it is a platform. tumblr is an incredible asset. as more and more people want to express their views in more than 140 characters, you have an incredible opportunity to use tumblr to allow people to expr

verizon, smart move by getting into a market they probably didn't have, nor did aol.mily: what do you make of a spoke going big on live when twitter seems to be the perfect venue for live? john: facebook is so big that they can buy things and the ford to test them out. for twitter, it is x essential. they've tried to compete with snapchat and that did not work. but if they set their teeth and go at it, i would be quite concerned. facebook and google still dominate video. where do you see the future growth of online video? who wins or do they continue? john: facebook wins. facebook is the place everyone wenks about -- the way thought about google as the first version of the web, facebook is the place. emily: who loses? longform. attention is finite. if you get a generation used to taking their entertainment in one minute, two-minute, five-minute sips, it has to come from somewhere. emily: john is with me for the hour. always great to have you on the show. about up, we will talk sharing economy companies like uber and airbnb finding loopholes to skirt taxman. ♪ emily: c

for verizon, i think this may be doubling down on things that aol has brought to their table.r as yahoo!, it is a convoluted situation. this is where i would say marissa may be left something on the table, without knowing if she could or couldn't do this. if you need to break out, you cannot go safe. you have to be aggressive. for verizon, it feels right because i do believe some of the aol content things within the pipes have brought them value. the individual pieces of yahoo! could be valuable. emily: was tumblr the right bet? gary: no, it was the right kind of bet, but not the right bet. they ended up being the wrong that, because -- bet, because i thought there was more room to go, and they missed the opportunity to go the way they needed to a year or two earlier. .o no, it was not the right bet emily: our conversation touched on twitter. i asked him if it was fair to say that twitter's user are down -- user growth is down due to jack dorsey. gary: he has not been in place long enough. if we are going to go on this thesis he had a nice run. , the product did not innovate e

they bought aol last year.ainly wouldn't be surprising to see verizon witness; if they want it, they can get it. the question is how much they want it. francine: this is a question of price. strategically, does it make more sense? >> perhaps. there is a broader debate here. telecomemember, companies wanted to be in content. that went out of fashion, and they said we are all just network companies. verizon has the going quite sharply in the other direction, wanting digital business. the former chief executive avail well is leading -- executive of aol is leading that charge. they drastically faded from what they once was, but it is still a big advertising business. you can see how it would be a very appealing process. francine: yahoo! has tried to sell before and never succeeded but this time it's for real. >> no one knows until the incas dry, but it does look -- until ink is dry. most of the share will have to be bought back by alibaba. there is a stake in yahoo! japan in the core web business, what you are i wo

on wednesday, aol announced it is making its first acquisition for the huffington post.ompany has agreed to buy riot, a studio in l.a., for an undisclosed amount. joining me to discuss the deal, huffington post ceo, jared grusd, and bryn mooser, the riot ceo. how long have you been in talks? >> thank you for having us on the show. we met in september at a festival in central park. i was struck by four different things. the first is his presence and leadership. the second is he was displaying some films in virtual reality. i was attracted to two things. the category -- was it a novelty or a compelling way to tell stories in the future? bryn shared with me the fact that he made 100 films in 40 countries. finally, the overall mission. huffington post has been a mission driven company to inspire and empower. the mission of riot has been the same thing. we thought this could be a tremendous partnership to do something transformative. emily: what convinced you to go through with this? what were the terms? >> for us, it was an absolute dream. the work that arianna did at huffin

they will run the business through tim armstrong who runs aol.there's a chance that with a right combination of equity , but it's going to be difficult to compete with giants like google and horizon. carol: is there a chance a deal does not get done? alex: there's a chance. there's a proxy fight looming in the background where star board plans on replacing the board of directors. if nothing gets done, there's a chance the board and marissa mayer get pushed out anyway. they may be copied between a rock and a hard place here if they don't want to sell. if the barbarians at the gate go away, they sell or they get pushed out. yahoo! is fully aware that the clock is ticking. to have enough interested parties in terms of the asset. alex: we have to see where the first-round bids commend. how much money of these companies willing to pay? carol: great story. i know you wrote get here at bloomberg. alex sherman right here on bloomberg news. up, the fed is uncertain about the state of the global economy, citing multiple risks to growth. is a weaker dollar

if you can take the digital data that you get from aol, yahoo!, and marriott with advertising out knowledge he that uses the rhythms to show digital advertising and pair it with the digital advertising products which verizon has introduced -- that appears to be the plan. because they are similar there is synergy with verizon that you may not get with any other company. that is why verizon is taking a hard look at the yahoo!. scarlet: could a another bidder come up? alex: we know several private equity firms are interested. they will make first round bids. ,ome of the big players comcast, disney, microsoft, they all have limited to no interest. that narrows the field. up, reaction to the panama papers and repercussions that have been felt around the world. ♪ ♪ scarlet: this is "bloomberg best." . am scarlet fu over 11 million documents were leaked in the panama papers. it will take time for the full impact to the clear. it unfolded dramatically. we highlight coverage on bloomberg television. waso one said mr. putin involved. not his name registere

yahoo and aol at one point dominated the internet. and now look at yahoo.ms to be on a decline of some sort. what's your take. >> this is the danger of innovation. not yahoo specifically, but the first wave, building, and second waesh has building apps and services. the third way will be integrating it in seamless ways, some big companies are rising in the third. some will fall by the wayside. you see companies that dominated the second wave, lie facebook didn't even exist. i'm sure that's true -- >> do you look at companies now and think that's going to suffer the fate of an although or yahoo if it doesn't do manage now? >> of course. >>> are there companies that come to line? >> the most vivid example was the kodak company. eastman kodak really owned photography when i was a kid, and then went bankrupt, so every company needs to you did where the future is make sure they're making the investmented to have a bright future. >>> there's a big battle brewing between amazon and netflix. julia boorstin assist the latest on that story. >> reporter: take a look a

it was the iconic way to log on to aol, america online. 30 years later, that network's co-founder is predicting a new phase of internet that will transform almost every aspect of our lives. >> he talks about it in his new book called "the third wave." and the co-founder of aol, steve case, joins us live. good morning. >> a privilege. nice to see you. >> great to be here. >> i'm going to ask three questions. first of all, the book is called "the third wave." regarding the internet, what was the first wave? >> just building it and getting people on line. whether we started aol in 1985, only 3% of people were on line. and only on one hour a week. "the first wave," getting people connected. getting them to realize why they should be connected. it seems obvious now, but it wasn't. the second phase is building on top of the internet, the app economy. things like smartphones and facebook and twitter and waze have been the dominant applications of the past decade. really the second wave. >> okay. so that brings us to the third wave. >> this could

>> verizon but aol and they share similar businesses.hey come with a very big digital reach. >> that raises the issue of why would they want them. >> verizon's plan is to marry data to users. they have 100 million subscribers through wireless. digital datahe that you get from users of aol and yahoo! and mary that with this advertising technology that uses algorithms to show does role advertising and pair that ,ith mobile video products which verizon has introduced, that seems to be the plan here. because those businesses are so similar, you can take out a lot of cost. there are synergies with verizon that you cannot get with other companies and i think that his wife verizon has taken such a hard look at yahoo!. >> could another bitter,? dder come up? >> some private businesses will make first-round bids, but some of the big players we are reporting now like comcast and disney have limited to no interest. that narrows the field down a little bit at least. scarlet: coming up on "bloomberg reaction to the panama papers and repercussions tha

the cofounder of aol. you know him.diction and his new book has a warning about the americans standing in the world. >>> also "the odd couple" stars show us how famous names are popping up for the hit comedy's new season and, boy, is this a good season this year. that is ahead. time to show you some of the morning's headlines from around the globe. >>> "fortune" reports on a fast start for tesla's new model 3 car. the retail value of preorders top $10 billion in the first 36 hours. this is the company's first mass market electric vehicle. ceo ilelon musk tweeted that 26,000 order were placed by the end of saturday. the car will not roll out until late next year. >>> "the new york times" said the white house got a massive technology upgrade. some of the old equipment went back to 1985. in february we asked president obama and the first lady about any home improvements that the incoming first family should know about. >> the whole tech thing, we have been trying to get that straight for the next group of folks, because th

>> they are more valuable than verizon, because verizon bought aol.y have problematic advertising technology, come with a very big digital reach. >> but why would they want them? >> verizon's plan is to marry data to users. they have over 100 million odds, files, you can take the digital data you get for users from aol and yahoo! and mary that with this advertising technology that uses algorithms to show digital advertising, and compare that with the mobile video product verizon has already introduced. that seems to be the plan here. because this is so similar, you can take out a lot of cost. there is synergy that verizon cannot get with any other company. i think that is why verizon is taking a hard look at yahoo! >> [indiscernible] alex: absolutely. we know private interest are interested. they will in fact make a strong bid. are of the big players reporting, at&t, comcast, disney, microsoft, southbank. they have limited to no interest here. that narrows the film -- field a little bit. scarlet: coming up on "bloomberg best," more reaction to the pan

both aol and yahoo! come with a huge reach.re is i think one billion is the number they throw around. i don't know how many of those users are engaged every day. that's a huge number of people, a huge amount of information. to your point, what are they going to do with some of these media properties like huffington post and different verticals to be seen. verizon has some ideas about what they might do with some and mediambined video package. is there a chance they could bundle these things together and seldom to a private equity firm? absolutely. alix: what kind of price tags? guest: less than a billion dollars. we still know. that may be significantly less -- $80 billion. the yahoo! stake, yahoo! owns about 35% of yahoo! japan valued at $8.5 billion at market value. theal that involves both yahoo! japan stake in the yahoo! core business would be well over $10 billion and that makes it a turkey or -- trickier deal. joe: he said google is taking a look. taking a look.s we have learned they are at least interested. there are tie

and all, throw in aol of those eyeballs and the text that comes with it.t is kind of a really fun playground for us. emily: all right, you enjoy those phone calls. brian robbins. we will keep our i on you guys. on you guys. now i want to bring one of the cofounding editors of wired magazine who has been covering technology for many years. you have news of europe which we are going to talk about later in the show. what do you make of this deal? you have got dreamworks, verizon, and hearst all dipping their toe in here at the same time. we have got facebook life -- facebook is paying companies like the new york times and but seed to do by the video on facebook. those models always slip. that is not going to last. you want to count on that for a long time. >> what is really interesting is i think brian is right. media companies have not caught up with the habits, particularly of younger people. if you want anything immediately states, you absolutely have to think about one thing, which is video tech nvidia -- on with facebook and captions. it is not how tradi

verizon but aol one year ago and did not make many changes to the popular products. >> i would wondery aol email users are aware that it's owned by verizon. >> reporter: bottom line yahoo email caught news, fantasy football and other fantasy sports are not going anywhere. those yahoo products will continue to exist. those are the few things that are really working for yahoo. if anything a new owner will invested them and make them better. >>> the treasury department is making some changes to the us currency. will be the 1st us bill to have a woman on it, the 20. tubman escaped slavery in the south to become an abolitionist leader in the pre-civil war era. her christian faith inspired her to lead hundreds of slaves to freedom. on what became known as the underground railroad. later she was active during the civil war serving as a cook, nurse and later union army spy. she was the 1st woman in the war to lead an armed wish -- mission which liberated more than 700 slaves. >>> a museum here in san francisco. >> reporter: a runaway slave who has time past has became known as the moses of he

verizon owns aol, and the idea would be to merge yahoo! synergies where maybe verizon can add were no other company can, which makes yahoo! a better deal for verizon theoretically. google would want it for other reasons. the problem with google is antitrust concerns. been all overe google for years, so you woer, if they bought yahoo!, whethey partner with someone in order to divest certain assets they need to avoid antitrust? we don't know if google will make an offer. we know that verizon is working with at least three banks. they are ving forward on a first-round bid. alix: strategically, yahoo! was doing everything at the same time. are they still looking for a way to turn around the business at the same time of trying to sell themselves? >> i think they are. mercer mayer and her team are committed to what they believe is a turnaround plan to the company. when you look at yahoo!, you see a company that has a lot going -- a lot of high-quality content, one billion monthly average users. when it does not have is the growth story. they ope

for verizon it makes sense, they would use yahoo's web assets combine it with the aol properties it bought last year and then try to grow its own digital media business. verizon hopes to leverage customer data from its 12 million subscribers it has, the largest in the country. the company is hoping to do that to create an online video service and advertising technology platform that can compete with facebook and google. yahoo's quarterly earnings report is due tomorrow. analysts think it will be somewhere in the neighborhood of 7 cents per share which is not great. we are live in sunnyvale, kiet do, kpix5. >>> 5:03. another check of weather and traffic. hi, roberta. >> good morning, everybody. today is going to be just nearly as hot as yesterday, if not even warmer which means we will set more records here around the bay area. as you step out, don't forget your sunglasses, you may require a hat as well, especially right there in the santa clara valley. this is the scene of a live weather camera looking out towards monetta international airport where i'm forecasting a high today, record bre

aol.hat didn't make sense to me. i don't understand facebook. what's the market cap? double disney, isn't it? >> is it double disney? >> i don't know if it's double. >> 257. i think disney is 160. >> i don't understand. >> she's a very qualified ceo. >> you're the one that always calls them by their first name. it's not me. i'm gender blind, completely. you know what they say -- >> the question came up, would sheryl rather be at disney or facebook. >> i think you'd take the ceo job at disney. >> well, no kidding. >> if you're the coo. >> you're not sitting there looking at some stupid thing, i don't know, seeing someone on vacation, then an ad pops up. >> it has been revolutionary, but disney has been one of the most amazing companies. >> i use twitter now as a news feed. anyway, you know what they say, if you can't beat them, sue them. who says that? patriots fans filing a lawsuit against the nfl, accusing commissioner roger goodell of acting unlawfully when he handed down the new england

verizon and it's aol unit is working with three financial advisors on a bit.wner of china's most popular payment system controlled by jack ma is planning an initial public offering in shanghai. according to sources and financials. the company be -- behind alley pay. alibaba's financial affiliate valued at $60 billion. that is your bloomberg business flash. let us return to one of our favorite subjects, house prices climbing to a record in april. the average asking price rose 1.3%. 7.3% higher than a year earlier. anna: increase comes as many investors rushed to complete transactions. the commercial director at right ways joins us now. this book we have seen upwards in house prices. how sustainable is it? will it dragged demand forward? there has been a chain reaction. many thought it would be landlords selling to landlords because of the interest tax relief change is coming. it appears to be a lot of first-time sellers selling to to beat the tax hike. a chain reaction. those people have traded up. it degree of sustainability because it started chains moving ea

and aol together went aol was still an independent company several years ago. yahoo!' business itself, we do not know how much it is worth heard me know verizon buys at less than $8 billion, not huge. david: tim armstrong, the head of a well, he's sort of would like to run yahoo! hex: it makes sense why would stick around at verizon when he ran a full and independent company. if you could merge those companies together, he becomes a much bigger presence in the world. stephanie: is the important thing the price? one could argue, what is the great value of yahoo! if marissa mayer cannot turn it around? given how depressed it is, everything is valuable at a certain level. alex: i think you're right. the important thing is the price and we are questionable, that price will be with the core business. rico came out and said that yahoo! revenue would be about downnd earnings would be 20%, so it is a declining asset and you wonder how much progress in the paper that. on the flipside, they own a well, so there are certain things verizon could get that other companies cannot get