joining us right now is steve casehes aol cofounder.ceo of a rol when it what the merger can learn from0. aol/time warner. >> great to be with you. >> you wrote in that op-ed when you sat down to analyze the deals, the ups and downs of it you wrote about it in your latest book. you said that chapter was the hardest and most traumatic thing you had to do in terms of writing that book. what happened? >> it was obviously a big disappointment we announced the merger almost two decades ago. it was to capture the convergence in technology. this was before netflix had streaming. before facebook even existed before spot fi g launched. before youtube got launched. but the -- leader in media and communications together they could really usher in the future. it's about execution and the companies never really came together, never really capitalized on that opportunity. the opportunity two decades ago to play offense was really lost. now wh see with at&t and time warner and fox and comcast and others is they're really playing defense. they're quite

. >> so let's talk about what happened with oath and let's talk about the arc of oath you were, aol,antastic at aol, you made people a lot of people, and you come here, and at yahoo and then it gets murky not sure where oath fits in. can you define the vision for people right now people understand that oath is a real company within a company and has great prospect. >> oath on its own is a fortune company. traffic from 175 countries, oath is a big property on its own, big piece of where zeverizon is going. our mission is to build brands that members love and if you think about where the world is going flat with technology, we have been trying to be the company that really breaks brands out as separate things, recently, we signed a huge deal with samsung directly on to samsung devices. oath is probably the largest brand media brand company built for mobile in the world right now. and we are going to continue to scream down that path. >> what is the advantage of being the largest built on mobile versus a typical journalist. >> we are very much into high quality content. when you see wha

back then most internet -- as an example, when aol reached a 200 billion valuation in early 2000 as it agreed to merge with time warner ted a mere 20 million subscribers, no real earnings. facebook at a 550 billion market value today has 2 billion users, last year earned $16 billion on 40 billi in revenue. even though the way the stock market backed off early this year after a relatively brief phase of exuberance shows this to more orderly less heedless market than the end of the 1990s. if this will eventual become a true rerun and there's a good chance it never will, it would have a long way to go before getting ther for "nightly business report," i'm mike sanll >>> though 3/4 certainly similarities, mike just pointed out some stark differences. joining us to talk about this is jimon pau chief executive office at the -- grou >> goodo see you, sue. >> you point out differences, you point to product why?ty. >> i think that was the center of the 1990s, bo was just a remarkable product activity boom on par witht maybe w we hadn't seen, you know, since the post war of0 s, '60s sort of era.

. -- aol or yahoo!. it is left in the starting gate.ney, ch guys began rushing for the finish line. we have half a decade r command consolidation ahead of us -- four dramatic consolidation ahead of us. i'm encouraged because of the clarity of the decision. he has suggested to the administration do not appeal thisecision, let us go forward. vertical integration has been a mainstay of the industry for decades. what randall was trying to do was take distribution capability an with the time warner content. if your apple, amazon, google, you sit here today and say what is my role going forward? there are implications to brian roberts, who is one of the more able chief executives. brian will initiate a fox bid almost instantly. i'not sure that the fox assets do not split apart, where some go to disney and some go to comcast. vonnie: how would that work? leo: the do fox assets fit disney quite well. looks at star in india and sky in the u k and said that would be a big step for me out of a messy u.s. environment. in ank brian will go all then

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look at time warnernd aol. >> that was another point we raise that was a double whammy. one of my editor's points was ey made this struggle just to integrate the deal. these are tough deals and they talked about the culture challenge, a media company is really different than a pipe company. at least at&t ceo is saying the right thin, we're going to leave them alone, we get it's a differe'l business. see. certainly aol didn't leave the time warner people alone and it was a big, ugly divorce. >> there's no telling what's going to happen when yo try to merge two large companies. if disney ends up owning fox, they're going to have to bring in t very different media companies and try to merge them. what's going to happen with that is it's impossible to say ahead of time. >> but it opens theoor to a facebook or google acquiring other companies, message services, data ancos, right? >> or even content companies. apple just signed a deal with oprah winfrey to provide content for them and they'll be looking for content.eo a lot ofe thought they were going to go for the fox deal an

look at time warner and >>aol. that was another point we raised. that was a double whammy. one of my editor's points was they made this struggle just to intealrate the de these are tough deals and they talked about the culture pany is e, a media c really different than a pipe coasany. at at&t ceo is saying the right things, we're goingheo leave alone, we get it's a different business. we'll see. cerinly aol didn't leav the time warner people alone and it was a big,e ugly divo >> there's no telling what's going to happen when you try to merge two large companies. if disney ends up owning fox, they're going to have to bring in two very different media companies and try to merge them. what's going to happen with that t'is impossible to say ahead of time. >> but it opens the door a to facebook or google acquiring other companies, message nervices, data companies, right? >> or e content companies. apple just signed a deal with oprah winfreyde to pro content for them and they'll be looking for content. thought they e were going to go for the fox deal and nw you have different buy

. >> announcer: he invested in companies like am and aol before they were household names. where is the venture capital guru looking next? ♪ for many kids, just showing up to school is a challenge. staying through graduation's even harder. so at communities in schools, we do just what our name says. our staff brings a community of resources to meet each student's needs right in their school. doing whatever it takes to keep kids focused, so they see what we see. a bright future. join in at communities in schools dot org maria: welcome back. my next guest is one of the pioneers in the venture capitalist field. in 1977 echo found apax partners which is one of the world's largest private equity firms. in 2004 patricof stepped back from the daily duties of apax and found greycroft partners. the firm with about a billion dollars under management. thank you so much for joining us. you are the perfect person to talk about what the heck is going on. this week technology was so strong. a number of the so-called fanning stocks hit ca hitting ae highs. >> the private sector is as stron

. >> announcer: he invested in companies like am and aol before they were household names. where is the venture capital guru looking next? how do you win at business? stay at laquinta. where we're changing with contemporary make-overs. then, use the ultimate power handshake, the upper hander with a double palm grab. who has the upper hand now? start winning today. book now at lq.com. i've got to tell you something it's not going to be easy. quicksilver earns you unlimited 1.5% cash back on every purchase, everywhere. actually, that's super easy. my bad. hi.i just wanted to tell you thdependability award for its midsize car-the chevy malibu. i forgot. chevy also won a j.d. power dependability award for its light-duty truck the chevy silverado. oh, and since the chevy equinox and traverse also won chevy is the only brand to earn the j.d. power dependability award across cars, trucks and suvs-three years in a row. phew. third time's the charm... maria: welcome back. my next guest is one of the pioneers in the venture capitalist field. in 1977 echo found apax partners which is

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. >> announcer: he invested in companies like am and aol before they were household names. where is the venture capital guru looking next? you're turning onto the street when you barely clip a passing car. minor accident-no big deal, right? wrong. your insurance company is gonna raise your rate after the other car got a scratch so small you coulda fixed it with a pen. maybe you should take that pen and use it to sign up with a different insurance company. for drivers with accident forgiveness, liberty mutual won't raise their rates because of their first accident. liberty stands with you. liberty mutual insurance. come hok., babe. nasty nighttime heartburn? try new alka-seltzer pm gummies. the only fast, powerful heartburn relief plus melatonin so you can fall asleep quickly. ♪ oh, what a relief it is! you shouldn't be rushed into booking a hotel. with expedia's add-on advantage, booking a flight unlocks discounts on select hotels until the day you leave for your trip. add-on advantage. only when you book with expedia. maria: welcome back. my next guest is one of the pionee

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there was a lot of nostalgia and sadness when aol instant messenger signed off back in october.ack. it's going to be called aim phoenix. phoenix rising. and it will be a messaging app led by gaming development team. >> you won't be able to access your old buddy b list you can sign up for a screen name and invite your friends to join you for a trip down memory lane with aim. >> you've got mail. >> i haven't heard -- >> i was going to -- >> took me a second. >> amazon just moved into bethesda road. new amazing book location opened on tuesday. this is the company's second bookstore in the d.c. area. beazon's 16th brick and mortar store. use space is limited in the store it only sells very popular titles there. ere is a special designation for books kindle customers read in three days or less. you can test deviceser as toys"r"us is closing its doors, another store is hoping to fill the void. party city is going to have pop-up stores. party city say it will open shops in what it calls optim markets where it found attractive leasing opportunities. it also plans to expand online sales.

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. >> reporter: since joining the company in the summer of 2016, the former aol executive has helped barstoole revenue by eight times, sent brand advertising soaring 700%, and commerce by 300%. >> i brought to barstool what i knew how to do, which is to scale, to monetize, to create a platform, to build systems, to think about the brand and brands that we could build underneath barstool. >> reporter: the demo spends an average of 45 million minutes a month consuming barstool sports content. >> you have a lot of guys that are adulting. they're learning how to be adults. they don't have the adult commitments, yet they have disposable income. they can buy lots of toys. >> i think the most elusive consumer that anyone has is a 19-year-old. they're not watching television. they are not buying the things that they used to. they're not going to retail stores. they are different. and we are a company that understands them. >> reporter: portnoy quit his desk job to start the company in 2003. >> the early days content was all fantasy football, poker, gambling. that was 95% of it. >> reporter: at first

thene point, newspapers or three broadcast networks or aol googlee warner, even tried to compete with google plus, which was a failure, and i don't think there is an inevitability that facebook will necessarily have an immortal lifetime. e, you think about, well, ge the question of algorithms. newspapers had what was in effect an algorithm. it was an editorial perspective, as did the broadcast networks, as did aol, so i wonder if some of that perspective that you there'sted assumes that some inevitability to the permanence of some of these platforms. >> my response to that is i don't think there would be if everybody played by the same rules so it's actually a real competition. it's how we are approaching this. whole mobck at the bell situation where at&t controlled all the phone lines and western electric built all equipment.nic when we are allowing companies to buy various entities, if it's instagram, youtube, all that, and get all these integrations, we have to have a conversation -- have we allowed it to the point where there's not really competition that will allow some of these

it was an editorial perspective as to the broadcast networks as did aol. so i wonder if some perspective that you articulated, it assumes that there is some inevitability to the permanence of some of these platforms. >> my response back would be i do not think there will be if everybody played by the same roles and there was actual real competition. in how we are approaching this. i think there is an argument to be made. back at the situation where at&t controlled all of the telephone lines and then western electric filed all of that equipment. it was a complete vertical and when we are allowing companies to buy various entities, whether it is youtube and all of that, we have to have the conversation of have we allotted the point where there is not really where these come and go? if we create a level-playing field, and if there is true competition that allows it to -- allows upstarts to be able to come on and be able to compete, great, hopefully. all for it. i would say right now, i do not think we have the dynamic based on what i am seeing in the rules an

to challenge not just the world of mobility, but conductivity and communications and innovation. , aolar silicon valley startup, you guys, along with kleiner perkins, and alphabet google, are invested in it. why? >> the short and simple answer to your question is possible. the word possible for us means a lot. we believe in the new possible. -- things that are used once are used used to be impossible. changes inmaterial, computer science, and andectivity and collective connecting intelligence, there are a lot of things that make those things possible. carroll: it is not using some sort of fuel, kerosene or intohing, to get a rocket space, but using kinetic energy, like spinning something around and propelling it. that is such a different way of getting something into space. >> it is a different way. at the same time, it does respect the laws of physics, the notion of possible. when you think about the wright brothers and how they challenged than airept of heavier can't fly, they look at the biomechanics of birds, the different elements of fabric or material and also a new engine system

the first message program of aol and facebook messenger began in a fema bunker is a way for the government to communicate about stockpile limits and conditions across the united states. the whole reason it started out as character limited. the original 140 character limit was put in place because having worked in government they did not want government people to write memos in the chat program. they set a character limit to ensure you're only communicating the critical information. >> i love the meticulousness of the research. i'm sure the audience has questions. the book is "raven rock" it shows a tunnel going into a mountain and a really dark looking raven perched over a period that was the governments own symbol. >> that was the actual symbol for raven rock. >> wonderful. you have questions besides what the heck? >> this was entertaining discussion. i wonder what constraints and obstacles you faced with classification of this material. i can imagine it being classified at levels beyond our ability. >> was fascinating, as most of this is declassified now. the facilities in the history ha

. >> my mom had me at 15 and she died of drugs and aol and i never knew my real dad.hat made me stronger. i'm able to use that to give back. kennedy: what if people haven't had difficult upbriggs. you look at some of the most of successful people like oprah winfrey and what a difficult childhood she had. there is a survivor mentality that seems like an important element of greatness. >> aren't we all survivors in one form or another? i have friend who grew up rich. but they didn't have a lot of family support. there was no love. we can characterrise the poor. i grew up poor, but i'm strong from that. i had friend who grew up who are not so far. kennedy: you met your bio dad. how was it meeting him for the first time. >> it was weird, i never saw anyone looking like me before. he was sitting in a car and i was sitting in a car. i have never sat with a parent and had an actual conversation. to sit with my biological father who i haven't seen in 30 years and talk like humans. that was big for me because it never happened in my life. whatever kind of expert i am. i'm lett

. >> announcer: he invested in companies like am and aol before they were household names. where is the venture capital guru looking next? your brain changes as you get older. but prevagen helps your brain with an ingredient originally discovered... in jellyfish. in clinical trials, prevagen has been shown to improve short-term memory. prevagen. the name to remember. at crowne plaza, we know business travel isn't just business. there's this. a bit of this. why not? your hotel should make it easy to do all the things you do. which is what we do. crowne plaza. we're all business, mostly. maria: welcome back. my next guest is one of the pioneers in the venture capitalist field. in 1977 echo found apax partners which is one of the world's largest private equity firms. in 2004 patricof stepped back from the daily duties of apax and found greycroft partners. the firm with about a billion dollars under management. thank you so much for joining us. you are the perfect person to talk about what the heck is going on. this week technology was so strong. a number of the so-called fanni

there was a lot of nostalgia and sadness when aol instant messenger signed off. aim is coming back.called aim phoenix, phoenix rising. >> ashes. >> yes. and it will be a messaging app run by a gaming development team. >> now you won't be able to access your old buddy lists or your mnesages if you j -- it started in 1997. >> how could you even have that? >> it will be bgone, you could still sign up for a screen na, try to convince your friends to join you on a trip down memory lane or you can just send them a text. e >> might b easier. >>> amazon just moved into bethesda ro the new amazing books location opened on tuesday. this is the second bookstore in the dc area. amazon's 16th brick and mortar store in the u.s. because space is limited. >> a lot of books out there. there is a special designation. >>> tows toys"r"us gets ready to close the doors, another store wantso fil the void. party cityn will o up pop-up stores. it will open shops in optimal markets. it will have online sales. it will r through the holiday season. >>> barbie is adding another job to her long list of accomplis

. >> announcer: he invested in companies like am and aol before they were household names.here is the venture capital guru looking next? how do you win at business? stay at laquinta. where we're changing with contemporary make-overs. then, use the ultimate power handshake, the upper hander with a double palm grab. who has the upper hand now? start winning today. book now at lq.com. in 1948... [sfx: bottle sounds on conveyor] one bottle at a time. today, we produce nearly 20 million cases a year. chubb has helped us grow for the past 30 years... they helped us prevent equipment problems during harvest and provided guidance when we started exporting internationally. now we're working with them on cybersecurity. my grandfather taught me to make a wine that over delivers. chubb, over delivers. maria: welcome back. my next guest is one of the pioneers in the venture capitalist field. in 1977 echo found apax partners which is one of the world's largest private equity firms. in 2004 patricof stepped back from the daily duties of apax and found greycroft partners. the firm with abo

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back then the largest nasdaq stocks were kind of concepts my favorite example is aol there you see thermance of the s&p excluding technology. >> good jim paulson. >> yeah, he put this together. '95 it started to be all about tech this is more modest. the trajectory is not quite as sharp. we're not to the same extremes at&t when it bid for time warner had a $220 million market value, 20 million subscribers never really turned a profit facebook has a $550 billion market cap, $16 billion in profit last yeerks 40 billion, 1.6 million market users the strength of the companies, microsoft 60 times earnings then, 20 times earnings now. a matter of degree 500 ipos in 1999 average first day gain, 70%. >> wow >> does that feel like where we have right now >> nowhere near. >> no. we may not ever get there. the point is, it's much more about the general position we are maybe in sight. >> the domestic economy, looking at tracking gdp numbers from jpm, barclays. em is maybe a persistent cough we'll have to live with for a while. >> exactly that was the source of all these kind of little scares and g

. >> announcer: he invested in companies like am and aol before they were household names. where is the venture capital where is thow do you win tal at business? stay at la quinta. where we're changing with stylish make-overs. then at your next meeting, set your seat height to its maximum level. bravo, tall meeting man. start winning today. book now at lq.com your insurance so small you could fix it with a pen.g today. how about using that pen to sign up for new insurance instead. for drivers with accident forgiveness, liberty mutual won't raise their rates because of their first accident. liberty stands with you. liberty mutual insurance. so, my portfolio did pretthat's great.year. but the market was up nearly twice as much. that's a tough pill to swallow. exactly. so i started trading. but with everything out there, how do you know what to buy? well, i think my friend victor has just the thing for you. check this out, td ameritrade makes it easier to find the investments that might be right for you. like our etf comparison tool it lets you see how etfs measure up to one a

couple of years ago i thought the acquisition of aol and yahoo!vide content and bigger revenue i would wait to see more indications their strategy is paying off >> kroger on track for its best day in nine years after a big beat >> i think this stock is 22 to 24 when amazon came out and announced it was buying whole foods. it's now high. i don't think the story is fully told amazon has put somebody against the whole foods situation so i think this is a very competitive space with very tight margins. crowing certificate the best management in the space. >> opec meeting tomorrow >> ministers are in vienna talking about how much supply to add to global supply in the back half of the year if you look at the energy sector it traded off 7% over the last month. it's overdone. i expect we'll get an add tomorrow to supply but somewhat moderate i expect to see energy stocks bounce back. >> more on energy in two minutes with futures and traders there we're back right have this on halftime six in the morning. she thought it was a fire. it was worse. a sinkhole

i still have aol. >> jimmy: you do? [ laughter ] >> i know, i know.ying to figure out the thing that makes the -- that you play the radio? like you pick a thing -- >> jimmy: you mean, the radio? [ laughter ] what do you mean, the thing? >> you pick a station based on a band? i'm like, how do you do this? >> jimmy: pandora or spotify? >> you put in a card? >> jimmy: right, right. >> i did bon avere. i'm like, this is great, what are all these cool songs? but i'm old, i'm a mom now -- >> jimmy: you know how to pronounce -- i thought it was bon ivor until recently. >> i did some of that, i don't know. i do everything. >> jimmy: you eat by yourself and everything? >> i do, i go to the restaurant by myself. i'm sure people are like, why is she by herself? >> jimmy: yeah, what's going on? >> we're here having a romantic vacation, who's that weirdo? >> jimmy: you did have a romantic vacation. >> and i'm reading graham greene books. >> jimmy: this sounds like every mom's dream. >> it is every mom's dream. >> jimmy: yeah. [ cheers and applause ] are you happy,

deutsch sees upsize in everything from verizon 5g business to formerly aol division. >>> netflix, that's a new all-time record, folks, three days before the release of the second season of power man, hero for hire, several brokerages raising price targets. gbh hiking target from $400 to $500 per share. they're late, we're at 404 and 9 pennies. we just hit the session high. that's a new record. stay tuned. we could see this move higher in the final hour. >>> up next, disney's incredible week. rocking the box office with a top movie in the nation. behind the scenes, the mouse house could be hours away from sweetening its bid for twenty-first century fox, after comcast played the spoiler. our own mr. incredible porter bibb following the media landscape for decades, he's going to tell us what disney must offer next as time runs out. stay tuned. ... let's begin. yes or no? do you want the same tools and seamless experience across web and tablet? do you want $4.95 commissions for stocks, $0.50 options contracts? $1.50 futures contracts? what about a dedicated service team of trading specialist

. >> announcer: he invested in companies like am and aol before they were household names. where is the venture capital hi.i just wanted to tell you that chevy won a j.d.power dependability award for its midsize car-the chevy malibu. i forgot. chevy also won a j.d. power dependability award for its light-duty truck the chevy silverado. oh, and since the chevy equinox and traverse also won chevy is the only brand to earn the j.d. power dependability award across cars, trucks and suvs-three years in a row. phew. third time's the charm... where we're changing withs? contemporary make-overs. then, use the ultimate power handshake, the upper hander with a double palm grab. who has the upper hand now? start winning today. book now at lq.com. it's just a burst pipe, i could fix (laugh) no. with claim rateguard your rates won't go up just beacuase of a claim. i totally could've... (wife) nope! switching to allstate is worth it. if his denture can cope with... a steak. luckily for him, he uses super poligrip. it helps give him 65% more chewing power. leaving brad to dig in and enjoy

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. >> a video of aol pe encounter raisinguestionsand co. >> some are calling it a illegal search whichob barnard. >> reporter: we're out front of nook's barbershop, the 5200 block of sheriff's road prince georgeounty is just on the other side of eastern avenuee here. here in front of thisfriday we want to go ahead and show it toou. it was sent to us, it was shared with the local anc commissioner and we belve it's also been sent to d.c. police chief peter newsham and in there you see that th is group ofoung men who are here in front of the barbershop on friday. they say the police came and searched one man and allegedly found a gun on that man andha us justification to search the othengr there. none of them giving police permission to search them one of the other concerns they have is that the man who apparently had the gun was n see there in the videod you they box it up there, that this guy was allowed to walk off leading the others to believe that perhaps thist was a plan an undercove office there to police officers cause to search the othersd who hap to be standing here. obviously a

it's reminiscent of kind of what they did with secretary powell as far as his aol account. i think there's a giant difference between using your e-mail account for speeches and using it to talk about drone asks top-secret clearance information. i'd put comey's use of a private e-mail account in the category of things of wrongdoing. also, pushing back respectfully on what jim was saying about the people comey surrounded himself with, i was a young person in that room. looking around the room, the table, the people with experience, there weren't a lot of spring chickens when you talk about expertise that came from the investigative field and the legal field in the room making decisions. >> thank you both. >>> next, the white house defending trump after new video shows him saluting a north korea general. he'd been told not to do it by his own team. >>> a reporter takes on sarah sanders over immigrants health -- health by the united states. >> you're a parent. don't you have any empathy for what these people are going through? (vo) we came here for the friends. and we got to kn

. >> papa bear is steve weiss' screen name on aol i want to point out one thing i think is important i don't know we're all singing from the same hymn book on the desk while it's great to recognize good things are happening with the u.s., i continue to think on a three to five-year outlook, you want to be diversified and earn elsewhere one thing that i thought was funny this morning, if you look at the ftse mib, the italian stock index, it's down .5% after all the calamity this week, and it outperformed other markets in europe. it's important not to overreact when a headline captures the imagination of the financial media. another example is facebook. now 1% off its record high, stock is up 20% from the lows, when we were seriously contemplating whether or not the business model might be trash. so we cannot take these one-day, to steve's point, one-day, one-week things and extrapolate a whole narrative of how things are going to play out because the market's memory is very short. and oftentimes things we care about on a monday are hilarious by friday. >> there's a double discounting

there are other factors that we would be talking about, another media merger between aol and time warneranies were able to merge over the objections of the justice department. fox prefers disney's somewhat because they think the purchase price would be easier sell to us regulators here, they are worried if comcast had the best bid they might face significant headwinds from getting us government approval. thank you. lemmy —— let me show you this quick tweet. the grocer magazine tweeted that "heineken hit by stock issues amid ongoing co2 shortage". it says the brewer is limiting the amount of beer british pubs can order. other carbonated drinks are also affected. the company which distrbutes coke across western europe said "ourfocus is on limiting the effect this may have on the availability of our products. and before any of you get any worry, they say there has been no disruption to supply to date. it doesn't have a huge impact but it may in time. a story that has come through in the last couple of hours is that donald trump has signed an executive order which. the practise of separating

. >> reporter: since joining the company, the former aol executive has helped barstool increase revenue by eight times, sent brand advertising soaring 700% and commerce by 300%. >> i brought to barstool what i knew how to do, which is to scale, to monetize, to think about the brand and brands we could build underneath barstool. >> reporter: the demo spends about 45 million minutes a month consuming barstool content. >> they're adulting. they're learning to be adults, but they have disposable income. they can buy lots of toys. >> i think the most elusive coer anyone has is a 19-year-old. they're not watching television. they are not buying the things that they used to. they're not going to retail stores. they are different, and we are a company that understands them. >> reporter: the barstool community has rallied around important causes, giving back to victims of the boston marathon bombing. fund-raising for veterans. but it's the unwavering identity that keeps stoolies coming back for more. >> people are tired of boring, safe content. >> it's a brand that's unafraid and loyal to its au

made a big that on content, where is the rise in on the other hand has made very smaller bets by an aol yahoo!, which at the time were seen as really not visionary as compared to at&t, but if this deal goes the wrong way, maybe verizon looks a little smarter. 1.1%time warner shares up after hours. still no verdict, but optimism. julia: filtering into the post hours. scarlet: time warner has a collection of media assets that everyone wants. maybef was start to be the smartest person in the room by selling out at a relatively early stage before his business deteriorated too much. we have been writing some research that if this deal does not get done that the stock trades up because we think the valuation of time warner is actually increased. we think it is still a very attractive asset out there and that it would either trade higher on its own because it has some of the best fundamentals in the business today, and maybe it would be a likely candidate for takeover over since they have already indicated their willingness to sell. julia: in response to all those questions, sitting pretty i t

aol south ca woman wanted to surprise her daughter so she did not tell her her father was coming homears to her mom eyes. those moments you can't get enough of. >>> coming up, take a look. >> ice cream! >> oh, the fun and chaos, and the hraoupb asee that awaited us. >>> first, is a sun screen pill true?od to be >> summer is here and the so-called sun screen pills are on the market, butow the fda issuing a new warning that the company's claims may put you at risk. we have the details next.aik fo 's shaped like a dental tool with a round brush head. go pro with oral-b. oral-b's rounded brush head surrounds each tooth to gently remove more plaque, and oral-b is the first electric toothbrush brand accepted by the american dental association for its effectiveness and safety. my mouth feels so clean. i'll only use an oral-b. oral-b. brush like a pro. take guinea pigs. they're not pigs at all, nor are they from guinea. or take this haircut. i may look all business, but look out... . but there's a party going on back here. kinda misleading, isn't it? well, at carmax, you don't have to worry a

. >> can you give us some examples about how critical this is, to your >> aol as you mentioned, there is a very significant backlog of repair investments needed across the northeast corridor and ross various parts of the rail network that we serve in the northeast corridor the most dramatic example of this. state of repair is absolutely fundamental to both the safe operation of the railroad and the reliable operation of the railroad, and ultimately its marketability. so we need to have assets that are within their useful life in good condition because when we don't, we have unplanned disruptions, we have problems that arise the delay trains and pose safety risks. getting access to the dollars that you all appropriated is going to be very important. i know i am sure that is a high priority for all of us, and we are working actively to fund partnerships amongst ouel and the commuter rail that use the northeast quarters we can go after these funds and put them to good use. >> thank you. >> mr. quinn, you mentioned that you're confident that the massachusetts bay transport authority will

which is aol and yahoo!> that's like saying jeff is a great american. >> he is a great american. >> what is he going to do? i haven't talked to jeff. >> he'll be an advisor for awhile. >> be a trade ambassador. >> to cahn. >> he would be good in the field trying to get things done. they cited discounted evaluation at verizon that is deutsche bank. right now i believethey're a significant free cash flow benefits from the likes of tax reform it's going to be leveraged about 2.5 times. that's versus at&t's average which is going to be about 3.3 a advised on the deal. >> isn't that a slap in the face >> they see cash flow -- free cash flow of $21 billion this year and $24 billion next year and then leverage, obviously, declining. >> that's a quick believer. >> $175 billion is where they have the debt load for at&t. that is lower than moffit. >> i thought it was funny the verizon upgrade one of the reasons they give is the relative simplicity of the verizon story. as everybody else is just just embroiled in the m

people were signing up for aol accounts, exchanging e-mails, and there was an ecosystem being built aroundr e-commerce and goods being exchanged, et cetera. it doesn't feel like the same sort of buildout right now in cryptocurrency in terms of use case and all the different applications being built around it that we feel in our daily lives. >> yeah, we think those products are just being built out right now so we see bitcoin as a store of value, like digital gold and people are using it as a way to store value. a lot of the new products that will have more specific use cases, held initial coin offerings in 2017 which was really when that boom of cryptocurrency happened. they're shipping product, we're excited about products like auger and a number of others that are coming out over the course of the nikolext six or n months right now we're focused on developing the applications. these applications need to exist. we need users for these products, and that's going to happen this year and early next year >> when you're talking about crypto and you talk about a store value and it's being used

its positioned as a lower cost user-friendly alternative, and mcadam is buying aol and yahoo! draws scrutiny inat&t, making mn content. back to you. >> thank you very much finish that in los angeles. catch cramer's interview with the ceo, tim armstrong at 6:00 p.m. eastern time on "mad money. >>> inside look at america's latest super computer that could give the country a much needed edge on everything from machine learning to autonomous driving in the race for computing supremacy. >> speaking of races, eric is at the triple crown with justified, eric >> reporter: okay, i'm going to see can i can get on the horse and track, t buif not, we'll talk about the triple crown when we continue. >>> welcome back after winning the kentucky derby and preakness, justify will attempt to be the 13th horse to win the triple crown tomorrow in the running of the 150th belmont stakes we are live -- you're not on the horse, eric. i'm -- >> reporter: i tried to do that segment. i almost got injured glad i made it herement i'm not on the horse they are going to start a race in minutes, actually, s

people are starting to compare it to the old aol. >> fang's market cap outpaces the entire market capthe uk. >> fang's better time than the uk >> that's an unarguable fact >> when instagram had a number of more than a billion users and now they'll monetize whatsapp. >> they want to play without sound. >> so smart. remember that was that outfit that was cambridge or is that called play? >> cambridge analytica and they did, what they got us to vote for who? we voted for trump >> really, that's about the extent of it i hate to say it, but they just didn't leave it. there were personalities who resigned >> meanwhile, twitter and square, are about to double for the year another note on square >> can you imagine if he took over intel >> did twitter move up is it reflected in the numbers themselves the people want a third alternative than advertised and they do a lot of video by the way, i don't think that nodo doesn't get a lot of credit sarah doing a great job as cf owe for square the mr. dorsey, i know, i know, mr. dorsey follows me and follows you, too this is no slight to your son, mr.

favorite data point is aol and billion dollar valuation, 20 million subscribers, no earnings facebookn, 200 billion users, and 16 billion in profits last year. >> which is why, frankly, you don't hear about analogies between now and the late '90s. >> it's nothing similar. theconcentration is getting there. the idea they can't stumble down the road is maybe -- >> more like the nifty 50s like he said, and there's not 50. >> no. not a crazy extreme. >> were there 50 stocks then >> i think initially, that's like late '60s, early '70s, and there was a few brokers list, but yeah, close to 50. >> wow >>> apple closing a loophole making it harder for law enforcement to access information on phones. debating whether the company is making a big mistake choosing that privacy over security >>> first, one wall street firm sees danger ahead for semiconductor stocks. are they taking prits omoffr what is a hot group? stay with us you always pay your insurance on time. tap one little bumper, and up go your rates. what good is having insurance if you get punished for using it? news flash: nobody's perf

and aol. that was the big bet in digital.e never let up on the network again, national fiber and 5g is what vestberg will continue to push forward and mcadam remake the senior team he inherited from mcadam and changed the composition of the board, as well, over that time this is a big change and potentially a name we can see at the top of one of our most companies for many years to come. >> when i spoke with tim armstrong this morning, the ceo of oath which is buried within verizon but a fortune 300 sized company. he emphasized 5g i think it's interesting, you've got agt that wants to go into entertainment. you have verizon that wants to go deeper into technology. is that cultural >> yeah, it is it's cultural. i think it is. and it's, listen, i mean, you can argue to a certain extent randall stephenson has been running away from their core business for years. >> that's where i'm going. >> and making decisions based on maintaining the dividend and what he believed to be fair as a potential growth opportunities for at&t differe

what is relevant for the conversation we are having today bob pittman is the fact that you sold aol towarner and you know all about media m&a what is going to happen with this latest battle it look like a big classic bidding car. i think there are two things one is the bird in the hand worth a little more money? is disney farther along? i think what is clear is that fox has great assets disney and comcast have aspirations to continue to build their companies with new assets to get bigger and more diverse. >> what are the chances that deal is close to being approved. >> i am not a lawyer i would have no idea >> what do you think that the company that does not end up buying fox will end up buying? what is the next closestet. >> i don't know. but it's clear they both signal they want to get bigger and they have aspirations to get competitive in more fields and they both said we need more content assets in order to do that maybe we are shifting from focusing on platforms to back to focusing on the content. >> content, of course. i have to ask you since you used to run mtv, which was owned

you know the end of the world was supposed to come when aol and time warner merged in the late 90s andhappen either with all the same arguments y is that? a, the legal framework, and b the economic incentives just aren't there for that to happen. it hasn't happened with comcast universal. neil: at&t-time warner situation do you see looks like it would go through, maybe not? could be a -- on my part, if it doesn't it changes a lot of dynamics for a lot of deals that could be pending including comcast? >> no, first of all the government had the burden of proof here in this trial. that is a very steep hill to climb. this is the first lawlawsuit to oppose a vertical deal in 47 years, almost half a century. there is a reason for that. there is hard to prove there will be a consumer harm or consumer welfare will be harmed by doing this. and i t the at&t, t government i should say, the government witnesses were really kind of destroyed on cross-examination in terms of, what is the you know lying theory here for saying that this content is going to be more valuable if fewer people watch it, th