but why did it make sense to go with this blackstone-based group? >> well, we were just, you know, we were really out there exploring optionality, you know, the media space is just rapidly changing and growing and it just felt like a unique opportunity to really partner strategically to scale and grow. and bring our mission to even more audiences worldwide >> and so, reese, you know, you have done so much about authentic voices and really getting women's voices out there. what are you doing to make sure that you and hello sunshine can maintain independence and maintain your brand, now that you're owned by this larger company based by a private equity, you know, backed by a private equity giant and run by these two disney veterans? >> yeah, i mean, we're just doubling down on our mission now we're going to have the ability to tell more stories, to hire more female filmmakers, to promote and lift up even more authors. i'm excited to get more involved in digital creators. and it is really -- it is fascinating to see how a company like this that started

we've got tremendous machine for generating fund assets on which blackstone fees at a very high ratet rates, even if they tick up as we talked before, are till historically low, keeping the private markets on fire. and i think that's, you know, that's great for blackstone's business i applaud the call the stock as you see has been really strong. that's why we trimmed a little but i agree with the thesis about the fundamentals >> joe, what about you, you own blackstone bought it on may 3rd, at 88.50 a nice gain there. >> maintaining the position we also own blackstone and kkr in the etf. i agree that everything kari said in addition to that it offers inflation protection, excellent hedging mechanism. and it also is an alternative investment solution, kind of replacing what we thought hedge funds were going to be years ago. >> got another call today on fedex, reiterated a top pick at jp morgan. joe, i know you own it but, weiss you own it too. >> yeah, i -- it's been a very disappointing position i'm up slightly in it. i was up a lot more. look, i don't know why it traded down as it ha

this is only one piece of what you're going to build with this backing from blackstone.hat types of assets are you looking at say, lebron james media company? what other type things >> great thing about partnering with blackstone, the largest alternative investment company in the world, they have the same conviction we have around this kind of content. so, again, we're going it look at high-quality content that is categorically defining and drives social engagement, social influence and, therefore, those commerce opportunities that are related. so this is a great one to start with we think there are other really interesting companies out there. not going to name them today, of course, but we're excited about the prospect of adding more as we go along. >> well, as you work to build this company i think we have to address the elephant in the room a transformation of the media industry former employer disney at the center of it and a lawsuit just in the past couple days with one of biggest movie stars in the world suing the biggest movie studio, scarlett johansson suing dis

blackstone, talked good about.ompete with the more established sort of names that we know in that area. but also still pursue a lot of pe i was just -- that number itself was quite astonishing, to raise that much in one quarter, just shows how much money is sloshing around out there looking for a return that's why if you go over what nuell has done nuell brans. systematically reduced pe firms, thrive when you sell a vision suddenly it's something they can be laser focused, create -- take costs out and come public again. joking about it. with -- look, i have to tell you i think the ceo is doing a remarkable job and martin franklin, sold was not happy how it was handled by mr. polk. >> correct. >> now like what's they're doing. i just was like, the different brands they got bought by private equity, extraordinary and all making a ton of money. >> a lot going in, a lot coming out. exits, the spac market, but it's an important point, i think. again, kkr shares unnot much 1.3. >> david -- would you say the average spac

and here's blackstone essentially taking americas real estate market private. and they're using similar accounting tricks and financial master nations in the form of the 0 percent interest rate available only to them. and then getting their government bodies to foreclose on property owners by concocting a scandal and a pandemic related policy nightmare. and in a fact stealing like they did in the 2008. so prime crisis like they did post. hurricane katrina in the 9th ford in new orleans. they are the e let the wall street people and, and they steal everything. you mentioned blackstone and they are indeed a huge, private equity firm in the retail in the, you know, residential real estate market across the world in particular was pointing about black rock. black rock is also really getting big into they're the ones buying up 80000 homes at a time at the moment. of course they are.

run by kevin mayer and tom staggs and backed by blackstone this female-focused company $900 million. situation says they are buying out current investors including at&t reese witherspoon and hello sunshine ceo sarah harden will join the board of this new still unnamed company and will continue to run hello sunshine hello sunshine produces and sells female-driven content across platforms and has a strong record turning books into bestsellers and into hits such as "the morning show," "big little lies" and "little fires everywhere" on hulu. the price tag for the company speaks to the appeal of their female-focused content and the fact there just aren't that many independent studios left out there that can sell content across platforms as most studios are tied up with serving their own streaming platforms. eamon? >> and, julia, that brings up the question with all those independent studios out there who could be acquired next in the wave of acquisitions we may or may not be seeing >> reporter: well, look, i think this is all part of the media consolidation we've seen with the discovery d

writings and the apostle paul was mentioned about as frequently as the great english jurist william blackstone. by the way, i think it's an interesting question, why is deuteronomy so appealing to this generation of americans? i think there are several responses. first, deuteronomy is a digest. it condenses the books and the laws of moses, which had exerted significant influence on american law going all the way back to the first puritan commonwealths in the 17th century and continuing up to their own time. this book also records god's dealings with a chosen nation, especially in establishing the political and legal institutions necessary to govern a nation. yes, there are texts on government and the responsibilities of citizenship that we find in the new testament, but what's particularly appealing, i think, in the accounts of deuteronomy is americans in the wake of independence, in the aftermath of this war, they have to build a new government. and they see in the history of israel, having departed from egypt, the same exercise taking place, the building of a new nation with its various poli

china's antitrust regulator is reviewing blackstone's offer to buy soho china. companies said the regulator may request additional information and no preconditions have been met yet. blackstone offered more than $3 billion for a majority stake in soho china in june. jp morgan has won approval from regulators for ownership of the securities joint venture. it is the latest signal u.s. financial firms are moving forward with plans to expand in the country despite tensions with beijing. saudi aramco's profit rose to 25 $.5 billion in the second quarter. the highest since 2018. pre-clash flow rose to $22.6 billion. aramco is the latest big oil giant to post bumper earnings. the company says it is positive about the second half. david: trading debuts on friday. similar moves to a lesser extent. cookout bank up 61%. still up substantially. also moving up today to a lesser extent, yields. have a look at where we are on the chinese yields. we are a little steeper on the back of the inflation story, which came out earlier could 9% ppi. 1% on cpi. the correction we have be

with blackstone it is a quarter of a billion dollars to redo. truffles tribeca. of name is that for a building? honest to god. truffles tribeca is what they call it. he used to play truffles in australia. scott crowe joins us with center square investments. blackstone, a quarter of $1 billion. that is optimism on new york city real estate. scott: absolutely, from a live-in standpoint. new york city is already back. rinse are at or above -- rents are at or above pre-covid levels. people want to live in cities. they like the excitement, the amenities. the bigger question is will people be working in cities? that is why the office market continues to be in a funk. the essential side has come roaring back -- the residential side has come roaring back. tom: you have been research-based. what is your research on if, how come and in what way we will return to our offices? scott: office is the new retail. that does not mean office is the new mall, it means offices the next major sector that will be disrupted by technology. we can shop from anywhere and now we can work fr

. >> caller: hi, jim i would like to get your opinion on blackstone?t because he's a great ceo but he happens -- co he happens to be a fabulous, fabulous charitable money. blackstone is terrific i only know greg how about david in california. david. >> caller: boo-yah, jim. first time caller, long time listener >>> excellent. >> caller: cramer kept giving us advice >> there you go. i come to play >> caller: so here's my question, yesterday you were talking about a timely topic called reach >> yes >> caller: will tower -- >> i like well tower but it is not as good as vontoss. mark in florida. mark >> reporter: hi, jim hope you're well >> good. how about you? >> caller: my question and about a stock that reported disappointing reportings yesterday and crushed today. buy more or sell mohyeldin inferring. >> they should be in the sweetest spot there is no they are in the planning box. fred in oregon where my tower lived so long. fred >> caller: good afternoon. jim, if a seller had a high tolerance for risk and automobiles are one of the entire life, would

i would also say that blackstone is looking for outcomes. this is not a company like amazon that can think about how it might fit in the rest of their assets the acquisition of this hello sunshine by blackstone really speaks to the fact that they see opportunity for hello sunshine to be an arms dealer of sorts and sell their content across all these different platforms. i think a lot of the value now comes down to the fact there just aren't that many independent players now, there aren't that many that can be selling to all of these different players because all the studios are tied up with their own streaming services but, sara, i will ask that question to kevin mayer and tom stags, we'll hear more about what they saw in the growth potential in hello sunshine when we get them on air tomorrow. >> that sounds good. good payday for reese witherspoon, who is in a number of my all time favorite movies julia boorstin, thank you. >> wait, wait, which one >> so many "election," "legally blonde," "walk the line". >> "walk the line," i was about to s

blackstone is trading not too dramatically in any one direction here. same with apple which had reportedly expressed early interest in hello sunshine. as we look at owl of those, let's bring it over to foot locker, stumbling at this hour. the purchase of two rivals, shares are down 1.25% for foot locker, and capris holdings sitting pretty after upgrades. the stock up 2.25%. a win streak on better than expected quarterly are results and a rebound in the luxury market really pretty much the catalyst for the bullish move here. right now as you see it's moving up. but we also have levi strauss buttoning up big gains as steeple has started shares at a buy, good enough for a 4.8% bounce for the stock. post-pandemic closet cleaning kicks off a, quote, multiyear denim upgrade cycle. i've heard of laptops and phone upgrades, but denim upgrade cycle. okay, there you go. and ferrari trying to right itself back on road after missing on second quart profit and revenue estimates. the sports car maker says it still expects the finish the year at the top end of its gui

i like blackstone. i think it's a good place to hide out right now.inancials are looking strong again from a momentum perspective. as an investor as david mentioned, bonds are not really exciting. no one wants to own bonds right now but people still want to diverse away from stocks. blackstone is the biggest private manager out there. i like that. charles: greg? >> on the value side, looking at casinos. recall i was bullish on them a year ago. ran up to april. we're back down to valuation levels we saw with big tech like google, 30% operating margins, 20% market growth of multiple 2022 yes please. charles: roll the dice with casinos, couple tex. real quick david nelson. >> get it to a name like hca, less than a market multiple. looking for a global stock, thermofisher, tmo. one of the great growth stocks. 26 times forward earnings. charles: absolutely fa none noll. one of the best companies ever. made a major acquisition. health care last to go read today. you might be on to something. you guys are great. mad scram dell out of afghanistan. hundreds ru

the deal backed by private equity firm blackstone values the company at $900 million. witherspoon set to join the board there and continue to run hello sunshine her company makes movies and tv series that focus on women including the hbo hit big little lies and apple tv's good morning show you can catch witherspoon and sarah harden on tech check at 11 a.m. cnbc. >>> on wall street, the dow down 97 s&p down 8 the nasdaq up 8. >>> i'm shepard smith on cnbc. it's the bottom of the hour. time for the top of the news >>> emotional reunions at heathrow airport after tight travel restrictions lifted in the u.k. >>> a tragic ending to a first date a tiktok star dies after being shot at a movie theater. >>> secretary of state blinken announcing a new policy. >> the u.s. opening up the refugee program to even more at-risk afghans as the taliban hunts them down. secretary blinken says afghans who did not qualify for special visas but are in serious danger can apply. for example, that includes afghans who worked for american ngos or media organizations and now have a target on the

the deal is also backed up by blackstone. valuing the company at $900 million.omberg business flash. anna. anna: laura wright in london with your business update. coming up, spiritual opium. that is what a chinese news -- 11% earlier in the session. we go live to hong kong for the latest. this is bloomberg. ♪. ♪ anna: welcome back to the european market open. 22 minutes into our trading session that is dealing with a number of issues. weak momentum in the united states overnight. and negative feelings about the gaming industry in china. chinese tech is once again in focus. this time it is tencent at the center. the stock diving after an offshoot of china's official news agency criticized video games. we are joined by our tech reporter. good to have you with us again. what does the state media say? >> early in the morning, we saw an article from a newspaper owned by china's top news agency. it was an investigative piece. the report argued gaming addiction is a serious problem among chinese youth. the article called for a stricter control of the time and money tha

you mentioned blackstone and they are indeed a huge, private equity firm in the retail in the, you know, residential real estate market across the world in particular was pointing about black rock. black rock is also really getting big into they're the ones buying up 80000 homes at a time. at the moment. of course they are the recipient of a lot of the largest of the federal government at the moment. they have not only former executives in the by new administration and advising the bite into ministration, but they've been tasked with allocating a lot of the billions and tens of billions and hundreds of millions of dollars. the funds that are flowing around all over the place and so, but also go to the treasury department because this is another wound dogwill of the past 50 years the, the place we find ourselves in during this great re set at this moment. and my, my question, by the way, my eggs, before i get onto this headline, is, you know, how nixon announced on a sunday night that we were going off the gold standard. do you think it's going to be a sunday night that something dramati

thought it was $3 trillion but can't stay there private equity firms like blackstone and kkr may haveut to work to justify their existence. but private equity can't leave cash lying around. wave of leveraged buyouts to offset the slowdowns and take overs, courtesy to the federal golf's tougher antitrust shows you how well they're doing. fifth upside risk, could get memed. stuck in the mud for ages waiting to close but there's a short position here. memesters struck and bought up hand over fist tomorrow morning on "squawk on the street," ceo adam aaron is our guest. congress is making progress on infrastructure package and white house extended moratorium on evictions through early october. rental property owners get less cash but people can afford to buy things or invest in the market finally bears' hedge funds keep capitulating they have to buy to keep up with the averages would rather wait for pull back but bull refuses to give them entry point. there's lots to worry about if you're bullish, but lot more to worry about if you're bearish. there's always a bull market somewhere and i p

if you look at the sheer number of applicants, blackstone had almost 29,000 incoming applicants for onlybs -- 125 jobs. even goldman, they have double the number of applicants from 2018 in the current incoming analyst class. the number of applications are up despite all of these gripes. so the question becomes attrition. you have executives that are looking for people who want to stay there, knowing that a bunch will leave. matt: they may want to work on equities in dallas. jeff: i wouldn't go that far. [laughter] the dallas office will be big but there's a question of how much the front office is moving to dallas. matt: sonali basak talking about wall street pay. the equities in dallas thing is kind of an inside joke. you might be the dow jones now up only 38 points. the nasdaq gaining half a percent. this is bloomberg. ♪ ritika: i'm ritika gupta with bloomberg first word news. new york city mayor bill de blasio is strongly recommending that even those who have been vaccinated against covid-19 wearing masks in doors, but stopped short of mandating face coverings. he also said the lehigh

the buyer is a new but as yet unnamed firm run by former top disney execs and backed by blackstone.g has learned the deal values the company at about $900 million. hello sunshine produced shows like hbo drama " big little lies" and the apple tv plus series "morning show." coming up, we will speak with jason gardner about how his company is powering brand-new commerce features for google pay users. this is bloomberg. ♪ in business, it's never just another day. it's the big sale, or the big presentation. the day where everything goes right. or the one where nothing does. with comcast business you get the network that can deliver gig speeds to the most businesses and advanced cybersecurity to protect every device on it— all backed by a dedicated team, 24/7. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities. emily: welcome back to "bloomberg technology." i'm emily chang in san francisco. pandemic steals demand for food delivery and helped a narrower loss for the quarter. the first time the company has reported results as it

the buyer is a new but as yet unnamed firm run by former top disney execs and backed by blackstone.berg has learned the deal values the company at about $900 million. hello sunshine produced shows like hbo drama " big little lies" and the apple tv plus series "morning show." coming up, we will speak with jason gardner about how his company is powering brand-new common -- brand-new commerce features for google pay users. this is bloomberg. ♪ (announcer) back pain hurts, and it's frustrating. you can spend thousands on drugs, doctors, devices, and mattresses, and still not get relief. now there's aerotrainer by golo, the ergonomically correct exercise breakthrough that cradles your body so you can stretch and strengthen your core, relieve back pain, and tone your entire body. since i've been using the aerotrainer, my back pain is gone. when you're stretching your lower back on there, there is no better feeling. (announcer) do pelvic tilts for perfect abs and to strengthen your back. do planks for maximum core and total body conditioning. (woman) aerotrainer makes me want to work out.

. >> it's also a blackstone thing ask a lot of other places thing. >> no one wants to work financialnymore. they get the second tier guys. >> i used to be able to get the first three guys when i was at goldman. i get the bottom of the class. they stay for three months and go to a hedge fund the top guys go to facebook and pal alphabet >> where does it leave us on vaccines, we have this fda approval of pfizer and moderna's submitted theirs for final approval more corporate mandates, more city mandates, the city of chicago today, and these vax requirements at concerts and restaurants and sports, lsu, the saints is that going to drive a stair step >> the ceos i've talked to in the last 24 hours, actually had a pretty good read on people, the delta -- the change in health care is the one that's going to make people, that's it. not all these other things these other things will be able to be outliers, like changing your health care insurance. >> you do have a lot more -- once pfizer got full approval as well -- >> no, but that's important health insurance. >> but versus even a few weeks a

>> i mean, let's see if that continues to be the way that it goes for instance, we saw blackstone buyingon the part of mgm to go asset light they want to focus on doing what they say they do best which is operating casinos and resorts and entertainment experiences. vici is coming in like they just did, they made a deal with las vegas sands to buy the property under the venetian, the expo for them it works well to own the land, to charge tenants rent and know those tenants will be good for the money. this is sort of the way it's been going and it's not just in las vegas. it's happening with regional properties, too. so, for instance, vici will get mgm national harbor in the d.c. area it will get mgm springfield which is part of a deal that they just made, growth property, that it just made with mgm to buy the property under the springfield casino that's the way it's going in gaming >> quickly, if you can, how are they handling -- i know vegas is used to handling risk and coming out on top, but how are they handling covid risk? i'm sure a lot of people want to be out and about without mask

firms were at peaks that i couldn't resist taking a little money off the table, while others like a blackstone, i trimmed. not because i don't think that the potential long term is there, but because the place at which i owned it, i have picked up some nice returns and took a little of my chips off the table given some highs they reached. same with banks. i wouldn't buy banks because you think interest rates are going up that sounds good and that's what everyone is focused on with the banks. i would be more focused on the balance of their businesses around their m&a activity, the spac market, the ipo market heating back up. the amount of capitals, because we do underwrite for a myriad of companies on the debt and equity side, but the amount of issuance that is in the pipeline for the fourth quarter and 2022 is tremendous at this point >> so, you've trimmed a couple of positions including coin base and square selling out of kkr as well a little trimmation going on there with courtney, steve you're pretty strong about the financials, including bank of america, goldman, some of the etfs steve wei

one of the big stories there tonight reese witherspoon selling to hello sunshine to blackstone group.. that is tonight's live look outside the beltway from "special report." we'll be right back. ♪ ♪ ♪ on this perfect day ♪ nothing's standing in my way ♪ on this perfect day ♪ when nothing can go wrong ♪ can it's a perfect day ♪ someone once told me, that i should get used to people staring. so i did. it's okay, you can stare. when you're a two-time gold medalist, it comes with the territory. get ready - our most popular battery is even more powerful. the stronger, lasts-longer energizer max. >> woman: what's my safelite story? the stronger, lasts-longer i see inspiration right through my glass. so when my windshield cracked, i chose safelite. they replaced the glass and recalibrated my safety system. that's service i can trust. >> singers: ♪ safelite repair, safelite replace. ♪ priceline will partner with even more vegas hotels to turn their unsold rooms into amazing deals. delegates, how do you vote? (cheering) ♪ yes, y-y-y-yes, yes... ♪ that is freaky. (applause) good boy! [laughs] ♪

just go sell it to blackstone or some private equity billionaires out there.ople crossed out. it's not a good scene right now, but i also think that brett kavanaugh shouldn't have fallen into the trap. never think that democrats at in good faith. >> greg: no such thing as temporary with the leftists. up next, which nerd can now boast they are the new jeopardy host? ♪ ♪ knows everyone's unique. that's why they customize your car insurance, so you only pay for what you need. [ nautical horn blows ] i mean just because you look like someone else doesn't mean you eat off the floor, or yell at the vacuum, or need flea medication. oh, yeah. that's the spot. only pay for what you need. ♪ liberty, liberty, liberty, liberty ♪ try one a day 50+ multivitamin gummies. with vitamins c, d & zinc for immunity support. plus 8 b-vitamins for brain support. one a day and done. priceline will partner with even more vegas hotels to turn their unsold rooms into amazing deals. delegates, how do you vote? (cheering) ♪ yes, y-y-y-yes, yes... ♪ that is freaky. (applause) ♪ ♪ >> greg:

they are going to run a new firm backed by private equity giant blackstone and that company is buyingstake of reese witherspoon's "hello sunshine" valuing that company at about $900 million according to a source familiar now, witherspoon and "hello sunshine" ceo sarah harden will join the board of this new company and continue to run hello sunshine, which produces and sells female driven movies and seriesacross platforms lik "the morning show" on apple tv plus and "big little lies" on hbo among others this speaks to the growing demand for content, particularly by streaming platforms as this whole battle in the transformation of the industry plays out. carl >> incredible, kevin mayer is everywhere as well julia, thank you julia boorstin. >>> joining us to weigh in on the debate, cnbc contributor kara swisher good morning good to see you. >> good to see you >> i've been wondering what you made of the johansen lawsuit there was maybe some liabilities. you said on twitter you thought it was a smart take. >> it was an essay in the hollywood reporter pointing out that a lot of the -- a lot

that my children had to get covid tests before they could go to camp this summer you're right, blackstoneey mandatory weekly saliva tests before you could get cleared to go into the office that week. >> back to this idea of this not being a requirement for work, that everybody gets to work anyway i don't think that's really true i think part of what's hang here is just this inequality between workers who are allowed to work at home and those who you can't. you can say it's voluntary, but there are some jobs that could by done from home. i think about here, where anchors and reporters have been allowed to work at home, so have managers if they really want to do that, but you have people who are makeup artists, camera operators, there are a certain number of employees who have to be there to do their jobs. that's where it feels uncomfortable, where you're saying on top of the fact you're probably not making the same wages as the managers, on top of a lot of other issues, you have to come in, do the commute every day, you have to be vaccinated and everyone else doesn't. >> right now, becky,

all of these years later, as john blackstone tells us, we're still uncovering untold chapters of jimwow! this is cold storage. >> it is. it is cold. >> reporter: in a highly secure climate-controlled vault in los angeles, anne morrison chewning is a guardian of some significant rock and roll history. jim morrison archives? >> it is. that's what we've got. >> reporter: her brother, jim morrison, lead singer of the50 years ago. he was just 27. but he left behind boxes, filled with journals, poems, handwritten lyrics of what would become hit songs. it looks like an album cover, almost. >> i know. it could be. >> reporter: there is mormorrison's cousin. how old was he when he did that? >> probably 18. >> reporter: she has now put much of what she found in the vault to a book. as well as lyrics and journals, the book includes poetry by morrison, never before published. growing up, he seemed desperate to be a poet, which she didn't think was a good idea. >> who thinks their brother can make it as a poet. >> reporter: morrison suddenly became famous in 1967h t doors' first hit, nig, "light

. ♪ >>> welcome back to "squawk box" this morning we have media news venture backed by the blackstone $900 million witherspoon found hello sunshine the production include "big little lies" and "the morning show." witherspoon and the ceo sarah harden will continue day-to-day operations and combine the board. they will appear together on "tech check" at 11:00 a.m. eastern time an interview you don't want to miss. >>> when we come back, a key regulatory decision on the first bitcoin etf. we'll bring you that story after this >> announcer: executive edge is sponsored by at&t business our people and network will help keep you connected let's take care of business. met. oh, we can help with that. okay, imagine this... your mover, rob, he's on the scene and needs a plan with a mobile hotspot. we cut to downtown, your sales rep lisa has to send some files, asap! so basically i can pick the right plan for each employee... yeah i should've just led with that... with at&t business... you can pick the best plan for each employee and only pay for the features they need. >>> welcome back to "squawk

we acquired the milestone portfolio from blackstone and australia.big market. with the addition of ara, the enlarged group gives us exposure through logos in southeast asia in a much bigger way. we have a population of 650 million people and growing very rapidly. e-commerce is still very nascent. we expect that to grow significantly going forward. we think the diversification geographically across asia is very strong. even in markets like japan and australia, you look at e-commerce and it is only about 10% of total retail sales. that means we have a lot of growth ahead, coming from those markets in addition to the more emerging markets. >> we have seen china tightening government control on different sectors of the economy. we have seen new property projects as well. is that a risk you are considering at all? >> we are always mindful of the regulatory environment but we think we are very much going with government policy. the government is looking to continue to grow the need for modern infrastructure, including logistics. we think we are positioned

the china antitrust regular is reviewing blackstone's offer to buy soho china.ular so they may suggest additional information. i was offered more than -- they were offered more than $3 billion in aid stake. j.p. morgan has won approval from chinese regulators for full ownership of his china securities venture. the bank had already moved to a stake to 71% in november. that's the latest signal that u.s. financial firms are moving forward with plans, despite tensions with beijing. haidi: a south korean parole review committee is due to convene on monday to discuss the cases of the samsung vice chairman. he could be freed on august 13 at the justice minister approves control cash parole, i should say, after serving prison time. what are we expecting from the review committee meeting today? reporter: today is certainly a big day for him. the justice mistry will decide whether to grant parole to him. liberation day would be august 18th. if a majority of the members vote in favor of him, the justice miniter will give approval later this afternoon. if all things go well

the big cornerstone investors that included blackstone, abu dhabi, pension funds and canadian pensionof people got out of this because of all this uncertainty so the stock fell more than 15% yesterday. the most on record. it is down more than 20% since the bait, darling ipo. the other one is investors are kind of reading with more interest based media. not only teaching paying for policy clues but state media because in the noise -- xi jinping paying for policy clues but state media. another three point 9%. yesterday, it brought the weeds total losses to more than 11%. there were other -- week's total losses to more than 1%. there was one economic survey that called on companies to reduce their alliance on vulgar videos to drive traffic. that is another reason why the social media companies fell yesterday. shery: also taking ahead, announcing layoffs. what is going on? guest: it is apparent to the rival tiktok, a big arrival. they are into educational tech as a way to look for the next rising star industry after tiktok. in addition to tiktok. they have companies like gogo kid and othe

thank you watch 11:00 a.m., reese witherspoon a deal to sell her media firm to a company backed by blackstonean odd market day. spill into the close, not a lot of damage done beneath the surface, though, potentially worrisome finds looking at the economy ten-year yield falling to 115 selling around 117 that shows buying a bonds, nervousness there, saw it in europe, german ten-year going more negative. crude oil bown 3.5%. protection against selling like the vix was higher. and then we married from the fed governor saying ready to tape irby october if we get a few good jobs reports. >> you mentioned japan, a big impact not much in the move of the dollar despite big moves in u.s. stocks a very strong day in asian trade. we'll see if that carries over to tomorrow. i'm just sad i'm not in the u.s. i cannot watch david's hosting of "jeopardy." going to be the first time i finally watched this show that everyone talks about and am trying to understand the format of the questions which i still don't ge. >> oh, my gosh it's legendary, actually i grew up watching it. i'll tape it dvr for you. watch it

to communicate that to the investment community i mean their line is basically, hey, there's a blackstone hidden inside gold man sacks. >> i've been communicating. >> they have been using you to communicate. >> i'm a mouthpiece for you, for disney who else am i a mouthpiece for >> it's a very long list. >> you know the s&p 500. >> i'm looking forward to the chapek interview i am i am >> one of these days, right in the kisser >> yeah, to the moon, alice. if you want to sit here and irritate me all day. >> really? because earlier you comply i don't ever make calls. i got the implication. so you're coming back at me a little bit today. >> you push my buttons. >> you know how to push mine too. by the way, i was watching tape yesterday. i was -- of us from 20 years ago. do you know this has been going on over 20 years >> 20 years of you being snide and -- >> more than 20 years ago. >> 20 years ago he was like -- >> i wish i had it we'll show it. it was hilarious you look exactly the same, by the way. >> oh, come on, you looked younger and that's when i was calling you john garfield. doesn't he

a blackstone-backed media company buying reese witherspoon's media business, hello sunshine. susan: content. stuart: how much are they paying. susan: paying $900 million. stuart: $900 million? susan: which is a lot of money. reese witherspoon's company which produced hbo's "big little lies" and the morning show. this thirst, this competitive thirst for content right now. you remember amazon paid up what, 8 1/2 billion dollars for mgm which makes the james bond movies and other tv catalogs and tv productions as well. added element of celebrity. nike may pay $350 million for spring hill which lebron james's production company. you trying to get eyeballs to stay on amazon prime and apple tv pluses. moonlight, you remember the oscar-winning movie, that production house is up for $3 billion. a-24. these are premium prices. you can imagine a few years ago they probably worth weren't this much. in a matter of years with netflix, spending 16, $17 billion on content every year, other technology companies are willing to catch up and spend. stuart: content is king? susan: yes. stuart: s

billion dollar deal, she is selling her production company to an unnamed media company backed by blackstoneion. hello sunshine produced hits like the morning show and hbo's big little lies. quite a payoff, dagen. those are your headlines. dagen: yeah. i didn't watch the morning show. thumbs down. [laughter] cheryl: i did. i admit it. dagen: not doing it. not paying for apple tv either. thank you, cheryl. house republicans meantime very serious, releasing a report yesterday on the origins of covid-19. congressman michael mccall who spearheaded the report going after what he calls the chinese communist party's coverup. >> it's the greatest coverup in human history. i think the chai fees communist party are very concerned about this report coming out, telling the truth. the fact of the matter is, they were playing with fire. they were genetically manipulating at the lab this gain of function that was taking place. dagen: the probe showing the coronavirus did indeed leak from the chinese research facility in wuhan. the wuhan virology institute, something we have been reporting on this show sinc