reports quarterly earnings bob bakish usually runs that earnings call. he will not be on the call, i'm told it throws the company into near-term disarray without a ceo. he will not be replaced by a formal ceo for the long-term, i'm told because the company is in the middle of merger talks. if they complete a deal with skydance, david ellison would take over as ceo if a deal doesn't get done, the special committee is likely to turn to a different deal apollo and sony have had talks and those could come together and make an offer this week according to one source. there are two options here >> according to reports, the apollo and sony deal is call for job losses and another structure deal i want to go back to david ellison possibly taking over as the mergered company 60% owned by skydance and the other would be publicly traded what does this mean for share h holders? >> the reason this is happening right now is that the skydance media deal and paramount global is in exclusive talks gets sherri redstone out of the company. skydance takes over her controllin

bob bakish was against the deal with sky dance. caroline: wow.t looks at the bit is evolving very quickly on the day, and we will be looking with you again. meanwhile, coming up, it taking a look at a new kind of college, called the founders fund. more on that in caroline: this is "bloomberg technology." coming up on bloomberg television," p.m. eastern time, bloomberg etf iq. this is bloomberg. ♪ ed: an online alternative to community colleges, trying to tackle all kinds of problems, one of them being student loan debt in the united states, and it caught the attention of founders fund, the new extension round in the platform. disclaimer, someone with a bloomberg lp is also invested in them. joining us are trae stephens and another. you paid $77,000 for the course and are bringing an employment opportunity for very talented investors, which raises the question, why do you need $23 million more? tade: yeah, thanks for having me. a lot of them are looking for gig work, and what we do at campus is we allow them to teach, bring access to people who ha

let's -- caroline: let's talk about why bob bakish exited.lt that the, supposedly, the negotiations were not in his agreement. sherry redstone, this seems to be the deal she is looking for from sky dance. how are you currently dealing with the reports around a so-called sweetened deal? what would you make of those reports from paramount sky dance? -- paramount and skydance? john: we don't know enough. we've had some good information confirmed, but if this transaction really is focused on skydance, we think that may possibly have a chance to work, but much rather see apollo deal with sony that has been so alluring out there, to get certainty of the apollo world-class firm with extraordinary resources. sony has proved to be so successful in this industry. it seems like a marriage made in heaven. we would not rush to the altar with a smaller company that is not as proven as apollo and sony. ed: john, good morning. it's ed in san francisco. you have help this idea that we should look at other authors -- offers on the table for a while. do you hol

bakish joined the company in 1997 before becoming ceo 19 years later. this comes as paramount reported mixed quarter earnings with revenue coming up short of estimates following the earnings release. the company held a conference call that lasted less than ten minutes and included no comments from bakish and no questions from the audience. >>> and microsoft will invest $1.7 billion tover four years t build out cloud computing in indonesia. satya nadella makesinging the announcement as he kicks off the three country tour. microsoft will train 2.5 million people in the region with a.i. skills. >> silvana, thank you. >>> we have more to come here on "worldwide exchange," including the one word that investors need to know today. first, does mcdonald's have what it takes to break the three quarter sales losing streak with the stock down 7% this year. >>> we have your big money movers and why coursera is plunging ahead of the open. down double digits. >>> and later on in the show, amazon numbers you need to know ahead of the report. it it's a very busy hour o

that is bob bakish versus her.out the common shareholders, can you give me just a guess whether they will be benefiting just like how mario gabelli said here on the show he will be really annoyed if common shareholders will get some premium? >> i don't know that they will get a premium but a buyback and that may help propel the shares pay down debt. in shari redstone's defense you knew going in. liz: yeah, going in. >> remember les moonves wanted to extract cbs and sell it. he looks very smatter, put aside whatever you think of les moonves, his theory taking value of cb. is, back when it was in 2018 and 2019. selling it you would have gotten most bang for the buck in terms of assets then. you're not getting that now. the assets are deeply, deeply in trouble like cord-cutting. it is forcing huge recalculation of what these are worth. les, you have to give him credit, he had it right. that is what they should have done. it was the most valuable part of her empire and she could have gotten the most value for it then a

bakish's exit comes as paramount is in the possible merger negotiations with sky dance media.s several media brands, including showtime, and paramount pictures. >>> tonight we have an in depth report on america's child care crisis. h did you know... 80% of women are struggling with hair damage? just like i was. dryness and frizz could be damaged hair that can't retain moisture. new pantene miracle rescue deep conditioner, with first-of-its-kind melting pro-v pearls... locks in moisture to repair 6 months of damage in one wash, without weigh down. guaranteed or your money back! for resilient, healthy-looking hair... if you know, you know it's pantene. ♪♪ open talenti and raise the jar to gelato made from scratch. raise the jar to flavors from the world's finest ingredients. and now, from jars to bars. new talenti gelato and sorbetto mini bars. ♪♪ everybody wants super straight, super white teeth. they want that hollywood white smile. new sensodyne clinical white provides 2 shades whiter teeth and 24/7 sensitivity protection. i think it's a great product. it's going to help a lo

bakish's exit comes as paramount is in the possible merger negotiations with skydance media.l media brands including showtime, mtv, and paramount pictures. runaway zebras left drivers bewildered near seattle. police say four zebras broke free sunday when the driver stopped to secure the trailer on the highway. the pack galloped past restaurants and ended up in a backyard. officers, neighbors, and even a rodeo clown helped corral the zebras, but a fourth zebra is still reportedly on the run. keep your eye out. tonight we have an in-depth report on america's child care crisis, how providers and families are being impacted next. ♪ ♪ ♪ ♪ crisis, how families are being impacted next. heal acid-related damage to the esophagus called erosive esophagitis, and relieve related heartburn. voquezna is the first and only fda-approved treatment of its kind. 93% of adults were healed by two months. of those healed, 79% stayed healed. and voquezna can provide heartburn-free days and nights. other serious stomach conditions may still exist. don't take if allergic to voquezna or while on produ

and bob bakish, the ceo there might be removed there as ceo.ed to this in the story i wrote yesterday for cnbc.com paramount has a huge -- coming up with charter communications it's, sort of, the last major hurdle to evaluate the company, if it in fact moves forward with the deal to merge with sky dance media. the problem is that bob back, who has privately backed the -- not a good deal for all shareholders it only benefits national red stone, which is -- he's in charge of this negotiation with charter. i think sherry redstone, who is on the board at paramount and is the controlling shareholder, has been increasingly frustrated she may want to make a move before the negotiation happens to put leadership in place that she trusts more. >> well, if she's the -- if she is the, quote, controlling shareholder, wouldn't it be within her right to make such a move and remove bakish, who is opposing the deal? >> it would be, but there's several awkward scenarios that go along with this one, that deadline for charter is april 30th. so, you would be making

bakish up.'ll get to whether -- >> i had read alex's report, and what's interesting -- >> it's about the merger. >> what alex says in his reporting that's so interesting is that because bob backish has stood up and said he is not in favor of this merger because of what it could potentially mean for other shoulders that he has lost favor with sherry red stone and that may be the reason behind this move. >> right >> again, that's according to our very own alex sherman. maybe we can get him back. but that's what his report says. >> i guess we'll know at 4:00 whether the earnings probably wouldn't save him either way, but it's been tough. >> it is, and of a lot of shareholders have been quite vocal on this issue as well. when we come back, a lot more on "squawk," congress is back in session this week. we'll talk about what's on the agenda with punch bowl's jake sherman when we come back. a beautiful live shot of the capitol this morning back after this. the future is not just going to happen. you ha

. >>> paramount is preparing to fire bob bakish as talks continue to see the ceo david ellison run theew company. bakish aurgued against the mergr in private and asking to consider alternative bidders paramount declined to comment on the ceo's potential departure. >>> coming up, we will have the latest from the special economic forum in riyadh as the secretary-general tells cnbc the geopolitical tensions are nothing new. what is cirkul? cirkul is the fuel you need to take flight. cirkul is the energy that gets you to the next level. cirkul is what you hope for when life tosses lemons your way. cirkul, available at walmart and drinkcirkul.com. shipstation saves us so much time it makes it really easy and seamless pick an order print everything you need slap the label on ito the box and it's ready to go our cost for shipping, were cut in half just like that go to shipstation/tv and get 2 months free >>> welcome back to recap the top story today, philips had a quarterly net loss of 1 billion euro after agreeing to pay out in the u.s. settlements over the ventilator recall sales in line wi

bob bakish is out.ely to happen, if you talk to people, two potential suiters to right now. skydance redbird you have to put them way up at the top and put apollo which is sort of hovering this is one thing you have to ask yourself, and this is the question i posed to investment bankers, people close to the deal itself, playing in this deal, if apollo is willing to put up 26 billion, isn't that the number they floated, something astronomical to buy out everybody, common shareholders, shari whole thing, done, why isn't it done? you have to ask yourself. either you don't think they have the money which i find that hard to believe. they have money, or, you just don't think that this, that deal will get through the biden administration or any administration's regulatory hurdles and i believe it's the latter and here's when i'm hearing. apollo apparently has saudi backers, you know, there is no doubt. shari redstone's people are saying their initial proposal included some reference to pif, saudi investment f

paramount global says bob bakish will be stepping down as chief executive of the firm.network announced the change before reporting better—than—expected earnings for the first quarter. paramount is currently in talks over a possible merger with american production company skydance media. microsoft's chief executive is visiting southeast asia this week as the tech giant focuses its attention on the region. his first stop is indonesia where he will meet with presidentjoko widodo. for more on the story, let's bring in our business reporter monica miller from the newsroom. is the keynote speaker at key events the microsoft is hosting an jakarta, events the microsoft is hosting anjakarta, kuala lumpurand anjakarta, kuala lumpur and bangkok anjakarta, kuala lumpurand bangkok over the next three days. it is microsoft showing off all of its ai technology or some of it giving it a taste of the software engineers, data scientists and architectures in this region so they get a chance to see what is made of in this trip comes a week after some solid earnings of microsoft died and t

the company just reiterating its big news that ceo bob bakish is out, replaced by newly created officehe ceo, which consists of cbs's ceo, ceo chris mccarthy, and brian robbins. they are meant to work closely with the board, but there was no comment on who overseas streaming, and this is meant to be temporary or permanent. today's changes seem designed to make it easier for the company to do a deal, but there was no word on skydance's best and final offer for paramount global made yesterday, or whether sherry red stoen will entertain an offer from apollo and sony, which is expected to come as early as this week there was also no word on tomorrow's deadline for paramount to negotiate a deal with charter, which, courtney, is a very big deal for its value. >> absolutely. there's so many questions unanswered only nine minute, no q&a thank you for keeping us up to date dan, what do you make of this? a lot of news flying around this company what's best, what did you want to hear what do you still want to hear >> i don't really care what happens. but with berkshire the largest shareholder, i

bob bakish is running the company at the moment.ll? >> well, a lot of stocks don't perform well and some do well, okay? some are in transition. we've owned john deere now for probably 45 years. some years it goes down. berkshire hathaway in 1999 -- liz: okay. you're a long-term investor. >> i'm a marathon runner. liz: why not in the shoreshot -- short term allow some dilution if she sells to skydance can and then they've got great ideas -- like you said, he's no idiot over at skydance. i'm just playing devil's advocate -- >> no, you're not, you're being fair. she has to take what he wants to do for national amusements. i just want the same pice for my voting shareholders as she's getting for her voting shareholders. all were created equal. liz: what are your favorite opportunities right now of companies that you feel are well managed? >> well, our ideal world is a well managed, a good business by a well-managed company and, liz, a reasonable price. some of the ones that we've looked at in the past, gatx out of chicago, the rail busi

whether it is her fault, she blames bob bakish.as in may of 2020 as the pandemic took hold and they tried to be netflix. they went out and tried to create paramount plus and spent billions of dollars a year. that strained the balance sheet to the point they have not been able to recover from and very much why they're in the situation today with the forced sale situation that they're struggling under is all because of that mistake or misstep they made not following the sony strategy and trying to be a content arms dealer. it would have been lower growth and margin, but they would not have been in the situation today, mean forced sale, if they made that pivot back then. >> what does that forced sale look like? i mentioned "succession." if you are trying to do the deal to enrich the redstone family more than the average sha share shareholder, that reminded me of one of the heirs to the head of -- i can't remember the name of the company at "succession." i need some prevagen. you're young. you can't remember either. rich, i don't know.

last week we learned that bob bakish is expected to be replaced on an interim basis by management committees soon as today. what did you make of that? >> he's been the ceo of paramount for a while, instrumental in taking the company forward. in a lot of ways navigating a challenging landscape. he has butted heads with redstone on a lot of issues. in the past before the m&a came up, they had a lot of disagreements over the future of showtime and paramount plus. after the sky dance deal, the negotiations, he has resisted the deal. there's been a lot of backlash from him leading to a tense relationship between him and sherry redstone. he's a big hurdle in getting the deal done. katie: you and i were talking before the break, just quickly, here, paramount reports after the bell, but at this point it feels like an afterthought. >> yeah, no one is really paying attention to that. that said, though, they will have pretty decent earnings today and a lot of that is advertising. their tv advertising that has been under pressure across the industry will do well for them this quarter because of the sup

bob bakish says good buy. had been anticipated late last week. now they've got a troika running paramount. i can't really recall that many successful companies that were run by a troika of executives. that's not the typical thing you go with when you're looking for true success. that's where they stand right now. three different guys running paramount, obviously all oversee different parts of the company, that they have been overseeing prior to mr. bakish's sdepartur. it's hard when you've got the wind in your face. looks like a hero with the wind in your back. >> -- >> -- referring to the fact they may have had significant bids for show time but he chose to roll it in as opposed to elg sit and potentially garnering a significant return. sthoing in the press, not my reporting, has played out in terms of tension between him and control shareholder shari redstone. his and/or at least the way some have said they have gone about trying to slow this process that is under way between skydance and paramount may have contributed to his exit. there's so m

we'll hear from the company, earnings later it is expected as well that ceo bob bakish is going to be by some sort of committee that will be running the company. that, of course, adds to the risk in a way if you're the ellison group. if you do get to a deal and agree to a deal, you're sitting there for some time while the regulatory reviews are ongoing, with the management team that's by committee with overlevered company that's still dealing with a charter renewal any number of risks out there. which is why, perhaps, they may not want to go much higher than they currently are we'll keep an eye on shares of paramount, certainly to be revisited after the bell. >>> when it comes to the broader market, we'll keep an eye on that as well with the s&p up 3%. apple shares up 3.37% on upgrade from bernstein a lot more market coverage for a lot more market coverage for you straight ahead. we're all rock stars. oooo look look at my data driven insights, i'm a rock star. great job putting finance and hr on one platform with workday. thank you! guys, can you keep it down. i'm working. you people

profitable yet but all the legacy business have seen their value cut in 3 cents 2019 and obviously bob bakishter deals sooner, reportedly he is out. ashley: he gets the boot, phillips claiming their lawsuit over injuries linked to the sleep apnea device, interesting, for how much. >> a dutch company, 35% the game of shares, the up so much a $1.1 billion much less that investors were expecting to settle these allegations, there is sleep apnea machines that were recalled in 2021, of foam that was used in the device to reduce the noise could also degrade and become toxic hints for link to cancer, the $1.1 billion settlement was a lot less than investors feared. ashley: now was behind them the stock up 35%, how many times have we said this trouble for apple in europe, what does this have to do with the ipad. >> with the ipad, that you is saying that it favors its own services over rivals and because of the digital market act which is relatively new in europe apple has six months to fix that to comply, why are the shares of 3%, there is a report that apple is talking with openai to bring generativ

"wall street journal"'s reporting that ceo bob bakish could resign as a early as today.than 5.25%. they lost 80% of their market value in just that last 8 years. >>> well, jamie dimon not only runs the nation's biggest bank, he's also a been crowned the country's to best dressed ceo. that is according to a new poll by custom inc. dimon, quote, sports professional attire. other names on the list, maria, number two, capital the one founder richard fairbank, number three, visa's ceo. foot locker chief mary dillon, the only woman making the list. they all look great. i'm sure you agree. [laughter] maria: yeah. nice accolade there for them. thank you, cheryl. >> you bet. maria: meanwhile, a new cnn/ssrs poll finds former president trump leading president biden by 6 points in a head to head match up, 49% to 43%. the same poll shows 55% of all americans now say they see trump's presidency as a success while 611% say biden's -- 61% say biden's presidency is a failure. biden's job approval rating mitting below 39%, that makes him the least popular president in the last 70 years b

that's been one of the criticisms leveled against bob bakish. million subscribers on the paramount plus service but it's come at a huge cost. the streaming business has lost $5 billion. that's since its inception and it's highly doubtful it will ever be profitable. should paramount have even undertaken the streaming strategy in the first place? it's not the right strategy for everyone and not for paramount. they should have been a content arms dealer. that's the criticism against bob bakish for doing what everybody else was doing. lisa: we hear about sky dance but what's the status of the apollo bid? >> i think there hasn't been any formal offer from them after that $26 billion offer which was rejected by sherry redstone. i think they are waiting for this may 3 deadline and then they will come out with a more concrete offer. rumor is they are working with sony to lift that offer a little bit, up from 26 billion to maybe $29 billion or higher. we don't know the details yet but we will hear from them later this week. annmarie: three feels like a c

jim, you know -- >> there is a ceo by the name of bob bakish. name at all. >> no, no, no. if this plan takes place, david ellison will be the ceo of this company. >> of the company that's not this. >> the pro forma company of the merger of paramount and skydance, and jeff shell, our old boss, very much involved in this process as well. he's working with redbird, and he will have a significant position at the company in terms of helping them reduce costs and do a lot of different things in realizing what they believe are very significant synergies for what is essentially almost a recapitalization of paramount. yeah, ellison, shell, and then larry ellison, don't forget, as well, will be involved, because he will be a very large shareholder. >> if larry ellison is involved, i'm a buyer. end of story. >> that's paramount for today. i'll send it back to you. wrap up whatever it is you want to hit before we take a quick break. >> well, look, i think that we have to watch the group that was hurt so badly yesterday, which was home builders. they were wr

bob bakish could be ousted as soon as today by a management community.onathan: appreciate the update. that story has been a mess. look out for updates on that. got updates on this and re-add. secretary blinken has been speaking, saying the israel cease-fire proposal, he calls it extraordinarily generous. the only thing standing between a cease-fire in gaza. that is the latest from secretary blinken this morning. much more headlines throughout today. up next, the 2024 presidential race ramping up. >> the 2024 election is in full swing and yes, age is an issue. i'm a grown man. i'm running against a six-year-old. jonathan: that conversation just around the corner. from the beautiful new york, good morning. ♪ jonathan: equity futures on the s&p posited by 0.1%. last week, the biggest weekly gain of the year so far. just remember that follow the biggest weekly loss on the s&p 500 of the year so far. in april we are still down about 3%. bond market yields are lower by three or four basis points. two big events outside of earnings, federal reserve wednesday, p