-- embolden brian roberts.mplications, right? liz: you paid your tax on an all-cash bid. >> i've been told don't -- it might not matter as much as you think because he could sort of structure the bid in a way that limits the -- liz: let's put a date on this. july 10th is the shareholder vote for both diss and 31st century fox shareholders. it's going to be at the new york hilton, so this is right up the street. this is going to be a big deal, and that's where shareholders vote yea or nay. >> well, i mean, that doesn't -- i don't think that supersedes a hostile bid. now, this thing could be hering up next week. for all i know the federal district judge that's ruling on at&t/time warner, which that is kind of the precedent that brian roberts is looking at this bid so he can get bigger, that decision could come next week. i'm wondering, i've asked around might he bid anyway, put his bid in officially anyway before that ruling -- liz: they are preparing a bid. comcast -- >> yeah, no, they are. liz: probably putting

and brian roberts goes directly to the board. charlie: wait until if doj appeals, i think that there's an out here where you could say we don't want to get messed up in the justice department's regulatory agenda because they hate these deals. you can credibly argue that justice department will try to kill a comcast bid for us why get involved? i'm telling you that's not, that is, i've spoken to a lot of people about this and i will tell you this. the justice department, the trump justice department for these type of vertical mergers with distribution content, big players, is enormous. liz: well for now though at&t and time-warner are big winners and so is cnn. >> so far. charlie: the final chapter isn't written. wait until sunday night. this could go into sunday night. liz: i say you and i work late sunday night. charlie: i'm going to be in italy in a gondola in venice, i'm not kidding you. liz: [laughter] charlie thank you. you want good news or the bad news? imf, international monetary fund chief christine la guard staffed off

but brian roberts knows what he is doing and had to anticipate this.'t there was any expectation disney would say, you can have it, comcast. they knew this bid was coming and they are busily preparing a response. rishaad: we will leave things there. dave mccombs, bloomberg asia's conglomerates editor. an economist briefing taking place in beijing. these are live images and it is all about trade at the moment. china and the eu to hold a summit on june 25 in beijing. -- thats talking about china is really looking at the united states as using them as a scapegoat or its own problems, going on to say technology transfers between chinese and international markets are all market orientated, saying the chinese abuses tariffs and breaks global trade orders here. that is a spokesman at the moment. we are heading into the tokyo lunchtime break. this is bloomberg. ♪ rishaad: looking at markets, a mixed bag, but generally, we are up. a bit of we also have coverage from the ministry of commerce in beijing saying that the united states is using china as a scapegoat

vonnie: i guess talked about brian roberts paying for a deal outside ths..t is going on with verizon? leo: verizon is going down no path that is meaningful. it is watching an entertainment -based industry evolve rapidly and it placed its best -- it's bets on old internet services, a well or yahoo!. -- aol or yahoo!. it is left in the starting gate. disney, 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 sp

and headlines are already making the rounds it looks like brian roberts himself the ceo of comcast says he's confident in regulatory approval for buying these assets from 21st century fox. now don't forget this is the second time that we have comcast making a bid for fox's assets so the reason why rupert murdoch and the rest of the management team at fox has decided to go with disney is because of concern over regulatory approval but brian roberts of comcast says that they are fully confident in fact they might not even have to have a rehave you by the fcc which is really interesting fox shares of course hitting a record during the session up from 7% topping that stock bid from disney, and coming in with 65 billion in cash and really all of this change, right so you know this after yesterday's court ruling that at&t can buy time-warner assets and now as you see it's much in the content and everyone is getting to this game especially as you have these technological players like netflix and facebook in the game but e-mac i'm going to continue watching these headlines listen ing to this in

positioned. >> that's what the streets said when comcast was traded by disney last time >> that is in brian roberts the street doesn't know what i know i'm making a long-term bet here. >> there are 700 million viewers in india alone brian knows what he wants. >> i think so with bob eiger it's going to be a long summer >> coming up, when we return, the fed wants to be more transparent or so they say >> as chairman i hope to foster a public conversation about what the fed is doing to support a strong, resilient economy and one practical step in doing so is to have a press conference like this after every one of our >> mtis.d fomceeng we will finds out if wall street likes the idea and what it could mean for your portfolio after we return. "squawk box" returns in just a moment >>> the federal reserve hiked interest rates as central bankers attempt to keep up some inflationary pressures fed chairman jay powell saying the goal is to keep inflation at 2%. >> i would say the economy is in great shape. if you look at household survey, confidence is high look at business, confidence is high if you ask, if y

>> and brian roberts is not your typical ceo. he's the long-term owner, son of the founder. you are talking about somebody who is putting his money where his mouth is >> look at the market cap assigned >> you can look at growth. comcast is trading at low multiples now. >> you're free to vote with your feet today i think we're in a trading period >> i'm not voting. i'm just raising the question. >> joejust so we're clear on th this, typically the longest term investors, so the top 15 comcast active shareholders, excluding index investors. capital world investors, they sold they're down 11% t. rowe price has taken stock off the table. i'm not saying they're makin the right decision or the wrong ying there are long-term investors here who have questions about it that's the issue i'm raising >> they may be long-term, but a lot of the movement in the stock was not long-term. a lot of it is but seeing a pullback to what i see as a pre-split 64. when it was 64 on the way up, i didn't think -- >> any price is a good price to pay? >> as a sharehr. >> i think you have to have faith th

>> it is all up to brian roberts.tten in comcast's articles of incorporation that he is ceo for life for as long as he wants to be there, he can. he can almost do whatever he wants. he has a controlling stake shares.class b there are natural limits to how much debt comcast can take on and that is really the question, if they come back, is that going to be there final bid -- their final bid? david: it really is a family company, brian roberts' family -- father started a company himself. ceo, butis a fantastic not an owner. it is a very different mindset. brooke: it is, but disney has the advantage regulatory wise. bloomberg reported yesterday they are close to receiving antitrust approval, you might see that within weeks. that is a significant edge over comcast. the original reason fox went with disney over comcast was that fox felt like a deal with disney would be better odds of getting regulatory approval, getting over that hurdle will be a positive step. alix: at the end of the day, it is still a public company and

especially because brian roberts is an owner. this is his company.his family built this they're thinking out 30 to 40 years. they're owners, not employees. i think they're time frame is going to be different than disney's it's going to be different than their investors. they're going to look out further. >> it's karen. let me ask you something i know disney has said we're not talking about carving up the assets, but do you think that is ultimately possible as the bidding goes higher and higher and each of them think this is too risky. >> i think when you look at how disney point blank attacked brian roberts and the comcast team today, i think it's very hard to imagine the blood between these two companies just looks bad now. i think you've really set up an ongoing battle between disney and comcast no matter what happens here sitting around a table and carving up the assets, first of all from antitrust standpoint, probably just not possible and all the other things that would go into thap i think from a regulatory standpoint. i think it's hard to envi

they can get bigger and it's not a problem an anti-trust problem so that's giving brian roberts the ceo of comcast a lot of confidence that he can bid on us , so the question is if there's no conditions, i wouldn't be surprised if brian roberts puts in a bid for us tomorrow, or now, or -- melissa: it won't be cheap, fox trading at an all-time high right now. charlie: exactly, and here, will there be other bidders? you know? i keep hearing that. will there be other deals? cbs, and viacom is something that keeps popping up, cbs is in it with the national amusements but they're takeover bait and you get bigger and you can do it by the way i love this. it's fun, right? melissa: obvious. charlie: and byhe way the ceo of at&t just saved his job. >> or he would have been out otherwise. charlie: yes. >> crazy times in our in dust thank you, charlie, got to run. melissa: president trump is going o an afternoon storm on board air force one what the commander-in-chief is saying we'll bring it to you next. for our customers. it's how we earned your trust. until... we lost it. today, we're renewing

. >>> brian roberts was asked about the internet rules and he said thatis company does not block or throttleffic and that he supports an open internet. he also commented on comcast interests i some of the sets of 21st century fox and, more broadly, the potential for growth through a >> as we discussed during our recent conference calls and webp cast,tunities arise for us to create more value for our shareholders like we did with nbc universal. our current offer for sky, a as we our announcement last month that we are also considering and advanced stages of repain offer tha fox are selling are perfect examples of this. importantly, we set the bar high. we haven't been and will remain disciplined. >> the bid for fox assets could hinge on the outcome of tomorrow's expected ruling in that at&t time nesl anti-truanti -- warner antitrust bid. comcast is the parent company of cnbccehich pro this program. >>> the gaming individual is rising ask. industry prices are upo and are stock prices but the industry is undergoing a lot of changes and thatas evident at the annual e3 expo that attracts some of

bob iger, right, and brian roberts, steve furyk not suicide artists.alculated business people that will move their stock up over the next two years if you're going to take on too much debt because you want the asset, that's not the way of either of these two people. >> you're right. we've pointed out many times and brian roberts s been focussed on this. why didn't we initially actually come out on top before they signed the deal with disney and focus on what the time warner decision would be and their response and the reason is because he feels and worries about the long-term set of assets and their ability to compete they control 33% of the vote at comcast. that gives them a luxury of making these potentially long-term decisions that short term shareholders or shareholders who are more concerned about the things you're talking about, jim, would say please don't do that to. and i remember hearing many times he regretted listening to a shareholders when they came with that initial bid for disney way too low a number many years ago. it was like '04 or so

brian roberts is.e must have envisioned that the at&t thing went through, that comcast was going to advance, right? >> yes. and don't forget bob iger put off his retirement for this deal and i feel like his legacy hinges on getting this through. >> people say that he's been pretty successful. i have a little bit of a hard time swallowing that. look if he walked away he might be seen as disciplined and you never know whether this deal is going to work out in the long term. neil: but you're arguing this could go on for a while, this could go on for months? >> sure if disney decides it's not going to walk away very good possibility that will happen. >> you don't retire on a loss. bob iger isn't going to retire for a loss for sure, but you know what can they do? they can change up the deal. disney could come in with more cash which actually might be attractive. neil: or they could expand the properties they're interested in beyond the ones we see and hear about. >> sure. neil: could be the journal. it coul

why was yesterday's decision so relevant >> well, i can tell you literally both brian roberts and the were waiting tinder hooks yesterday afternoon to understand what the judge's decision would be if, in fact, the judge had blocked that deal. it is not clear. in fact, it is unlikely that we would be here today with comcast pursuing this deal in part because there would be a view the department of justice would try to block this deal with the approval, though, by the judge of the time warner at&t deal, it now seems likehe market or the coast is clear, if you will, for transactions of this sort. i just want to make a couple of points about this traction the new details that have come across the tape. perhaps the most important, comcast effectively saying they are going to have the same reverse breakup fee that the disney deal does that was a big issue previously. so $2.5 billion breakup fee. disney had that in their deal. original originally made a prior bid which was rejected by rupert murdoch. there was no breakup fee think about.portant point to they make the point in this press rele

brian roberts was thought to be behind because of the antitrust clearance, now they are about to get,g to line up more money. if this ist hurdl and the europeans eventually -- they will close the deal. they have a binding agreement now with fox. vonnie: what would disney have to do to get this? reporter: presumably disney would have agreed to some sort -- fox sports might be up for discussion because disney-owned espn, and there is some overlap. what does disney nee theyhod shareholder approval and there is no meeting scheduled, so that is an opportunity for comcast to come back. act because it does prove it is disney's point that the doj is likely to allow this to happen. vonnie: disney was the preferred bidder from the murdochs. it was a matter of fights. comcast offered more. what can comcast do now? david: it was price but also the form of payments. murdoch like this because they could take stock and didn't have to pay the taxes right away. disney will offer more, but also , we will give you the shareholder choice. if you want cash, you can take cash or stock. if what's comcast in

side of the equation to play out on the disney-comcast-fox side with james murdoch, bob iger, brian roberts? >> you are right. i think it makes m&a very complex, because you are dealing with the personalities, family ownership, and generational wealth planning. that complicates things. for comcast, they really have done a good job at really steering m&a in a way corporate governance has not been a big issue. i think the ceo has done a good job at appointing people to run different silos of the business, cable and nbc, and taking a step back a way from being a family run business, if you will. emily: amy yong of macquarie capital, and gerry smith for bloomberg, thank you. the parent company of snapchat is making its first big foray into working with outside developers, putting privacy at the forefront. as part of the relationship, snap said it won't share any personal data on users or their friends. coming up, the european fintech firm gives details on when the company can go public. highlights from our interview, next. if you like bloomberg, listen on the bloomberg radio app and in the u.s.

brian roberts and comcast believes as well, time warner said no, they sold the at&t. murdoch said no and is selling his assets as well. julia: the all stock offer we have from disney, what does disney do now? here,the premium you see it covers the tax leakage that the murdochs will have in a cash for assets deal. disney i suspect will raise its price. you will go to $35 per share but i think they will play up thathey believed they had a quicker time to close than comcast would have. i think they will play up the fromthat pro forma cpa disney and fox is a better collection of assets. joe: can y explain why the i think the regulatory is going to be massive for both of these companies. i think they feel like they might be earlier but at the end of the date the are going to play up the fact that they have pro forma. rupert murdoch has indicated that he feels more comfortable owning the disney paper than the cash that would come from comcast. whether comcast amends its bid that will be eligible fothe murdochs, will s. the is the early innings of saga that will play out. ju

brian roberts has come along and malone has done it i would say that the difference today is that thel disrupters is significant in terms of market caps and they have the power to do what they want. they prfragmented advertising 40% of the advertising has gone digital. how did they get back in the game how did they get the data to basically sell that on a precision basis? you know, rather than a shotgun on advertising those are the things we think about. >> you hear about prices being paid to people like shonda rhimes and these content producers. so content is still very valuable but do the companies trying to do it, are their margins going to get squeezed? >> the lust for technology stocks, the lust for technology stocks in terms of the ability to pay for what may be in the future is no different than what happened to dotcom in 1999 at some point the metrics change to where you're looking at -- >> i just asked about content. why are you talking about technology i don't understand how you're answering that >> the tech is guys like netflix for $200 billion. >> sothey're going to pay up

brian roberts has said and will continue to say, i think, listen i built this company on acquisition by being unafraid to make the big bets i needed to make. >> right. >> he's unafraid here. of course, he has 33% of t voting stock, which always helps. and that kind of gets into a key thing here to what extent will disney, bob iger be aggressive no doubt they will be. will disney's board saying it's getting scary there, that number, and what will mr. roberts be willing to go to as he seeks to secure the assets that many people say are once in a generation at this point they're saying that they didn't say that a year ago. >> no. >>> goldman takes their target to a new high. 490 on netflix. >> oh, my gosh he sai going to make a lot of money what a piece that was. >> yes and growing content. growing ecosystems going to drive swth abe expectations they raised their target in e e. >> that's a eat piece and netflix is throughout thiss jus. by the way, atne point i think that the judge was saying now the judge was doing a little m & a work and research work didn't he imply it would be better

all i know, brian roberts says screw it. most people don't think he will reject it. i can't tell you what is in judge leon's mind. i can only tell you from reading the tea leaves at trial -- neil: he gave the government -- >> a hard time, right? neil: absolutely. >> looks like he will approve it. he may throw a bone to the government for provisions like, for stipulations, make it difficult for at&t to fully monitor time warner. and that is where it gets tricky. then you don't know if a win is actually a loss. neil: did comcast have to go through these hoops with nbc universal? >> yes. that is another thing laying out there. the justice department hates mergers where you merge distribution an content together. they may come after -- we'll see how this ruling is. if this ruling gives them any incentive, judge leon approves it with gazillion caveats and conditions, see them gofter comcast, reimpose provisions on that merger, what i'm hearing by end of the year. neil: can the losing party appeal? >> that is another issue. why there are some moving parts. if there is comp

control of those fox assets >> i think disney will decide not to outbid comcast, and i don't think brian robertbe a loser here the big winner would be the shareholders and the mur going f murdoch family i expect disney to then make a bid for viacom, discovery scripps, by i don't think they'll get into a bidding war with comcast >> shares of fox up 7% >> well deserved >> the market expects our company to come in with that long-rumored all-cash offer. you mentioned viacom this is important. you did not mention cbs because legally disney cannot buy cbs. >> that's right. against the law. >> they own abc, so they cannot own cbs or abc legally >> but maybe they'll do something global your show is a global show >> they're buying "worldwide exchange"? >> i like it >> viacom. if you had to put a percentage chance on it, wh is the percentage chance that disney makes a bid for viacom, which is going through a crazy war between the board and the cbs. >> we should do a movie and a book >> maybe viacom could produce a movie abouitself and the problems it has with itself. did anybody follow that? do you think

us in motion, does it not >> yes we have been in motion for several months now if you remember, brian robertsried hard to buy fox and was spurned by the murdoch family. when i spoke to you a few months ago when he was in london bidding for sky, i said there was a look in his eyes when he was sitting in our offices that he was not pleased the way that ended and this was just the beginning when he bid for sky. now the latest action, an all-cash bid it's fully on now. all the players are in motion. the key, key question here is can rupert murdoch really walk away it's flipped everything into motion the idea that a guy who spent his whole career assembling assets, building power and influence, will he walk away with a cash check that takes him out of the game and out of hollywood? is rupert murdoch going to walk away from hollywood? if he takes the cash from comcast, he'll be left with fox news, fox sports networks, fox business networks. >> he will be left with a more giant chunk of change in his pocket though. >> yes, but he won't have that stake in disney which would have left him a major play

brian roberts talked about all of this on a conference call last night. >> when i think about fox, it'supert murdoch, his family and what they've built, one of the world's great media and entertainment companies. their work as strong entrepreneurs and prudent acquirers bears significant similarities with comcast's own history. >> let's start with you, kara. how interesting is this setup here do you have a road map to where you think this ends? >> seems as if comcast is the big bid. it's a lot of money. i don't know if rupert murdoch comes with the deal. you get him when you come in it will be tough for disney to compete with it in terms of money and power to do it that said, rupert murdoch is the one who benefits here, most of all. essentially, people are bidding to make him richer than ever. >> that's right, and that is a huge premium not just in the 20% but all cash don't forget why fox is selling. it doesn't like the future now you're rinsed of any responsibility for the future. you take the cash. you're done. so, it's a huge premium. i assume disney has a tough time matching that. >

like when disney says we can get ours through that because they're trying to put in brian roberts' mind that oh, they're going to spin off sky, or they're going to do this in other words, all of these different pieces -- >> i think comcast loves the assets that they're trying to buy. >> right, i agree. but my point is disney what disney is doing by saying we have a better chance of getting through the ftc. well, why is that? because they might piece it off and sell off pieces. >> why would they kind of bid until they couldn't get regulatory approval. >> right >> this is like a step on your chest sort of a move >> what comcast gets is an international -- >> yes. >> -- because the bid is such a big premium to their offer it's all cash. they think it can get done from a regulatory standpoint or they wouldn't have done it. >> i think disney needs the assets more than comcast needs comcast will look great as a result of this deal because they're international. disney, they need the content. they're not spinning off any of that >> but the stocks are trading like comcast won and disney lost be

expect comcast to make its offer for fox's entertainment assets official this week here is what ceo brian robertst his interest in m & a today. >> as we discussed during our recent conference calls and webcast, opportunities arise for us to create more value for our shareholders like we did with nbc universal. our current offer for sky as well as our announcement last month that we're considering and are in advanced stages for an offer that fox is selling are perfect examples of this importantly, we set the bar high we haven't been and will remain disciplined. we are well positioned and have substantial opportunities for current growth in our businesses and are confident and excited about our future. >> as all this has been going on, kara, comcast stock price has not been doing well. it is down in the low 30s. even though we talk about disney all the time and the powerhouse that it is content wise, i mean, its stock price hasn't been doing so hot either in this era of netflix. >> google, amazon, apple, they own the distribution systems as distribution systems are changing you have to bulk up you

important the assets are for both of them and what it means for them as individuals, bob iger and brian robertsstory, opec meeting in serena this week. we've had noises fm the saudis and russians, keen to increase production, we've seen the oil price rise, now this morning it's fallen slightly. it seems the iranians are on board with the output increase, we could see gas prices come down as a consequence. >>> good news there. a story out of the tech world, instagram making a push into long forum video hub. >> $is 1.9 billion monthly users. instagram announcing they've got one billion this is an effort by facebook, which has 2.2 billion monthly users. india indiana, instagram trying to compete with facebook. you will be able to use long form videos of yourself successfully skateboarding over the weekend. >> you're so right. skateboarding successfully the key word, trying not to kill myself out there. willem marks live from london. great to have you with us. >> i would love to is he an hour-long video of louis trying to skateboard on the weekends. i've been told no one wants to see that. coming u

i think very likely that brian roberts is willing to pay up and stepped up already and may step up againy have to respond to that i think that's very likely i think that those prices will go up and they will bring up other prices with them i'm pretty confident in that >> hampton, the judge very interestingly to me, acknowledged the market power of vertically integrated tech, talked about the impact of amazon, google, facebook, apple, netflix, in the market their ability to reach the consumer, alsoroduce content i wonder at the same time as many are trying to cast these as monopolies, perhaps in different segments outside of media, how this language from the judge and decision might reverberate into other issues >> well, the judge also had sort of the ultimate diimer at the end saying, this was only about the evidence in this case and yoshouldn't really use my decision as a road map going forward. however, the whole trial was really an education about how the video distribution and content business really works. that's where the government kind of fell. they were giving an old-world view,

we obtained the letter sent to the board of director of twenty-first century fox, from brian robertshairman and o of comcast. they said in the letter they long admired the assets of twenty-first century fox that the murdoch family put together. a couple of bullet points coming out of. this the reason they made the offer now is because of the at&t-time warner decision. they're sayg in this letter that gave them the green light to go ahead with. this also they're offering a $2.5 billion reverse termination fee, which is the same fee that was offered by disney, they're also offering to reimburse twenty-first century fox for a $1.5 billion breakup fee in all of this. so a lot money being put on the table here in order to sweeten the pot for the assets of twenty-first century fox or part of the assets of twenty-first century fox once the new fox has been spun off. connell: melissa? melissa: after the success of tuesday's summit in singapore, the president is back at the white house while secretary of state mike pompeo is in south korea negotiating the next steps towards denuclearizing the

that's a very high rating and something probably ryan -- brian roberts wears on his lapel.s a pretty powerful statement of a strong company filley do ve the balance sheet to make this real. they are offering to pay for the breakup fee. they will kick in $1.5 billion, that's how bad they want is deal. and they do have the money to make it. let's talk about how things have changed since at&t. what kind of regulatory concerns are being introduced here? having to think about t will get the easiest right terms of the regulatory conversations that go on. yes, exactly -- yesterday we were talking about the fact that at&t got the green light carry out its takeover of time warner. this is a simir type o transaction where ite vertical. the expectation is that there will not be significant l chleng. all these deals do ve to go through and underwater review. regulatory environment has improved considerably now that at&t got its green light. chaine set off that reaction, people that always need more money, especially with netflix out there doling out the cash for production, you have a

. >> you think brian roberts -- >> other people are saying that. to walk away. you can get disney up to a price where you feel like you accomplished something by making them pay, basically 50% more than they were going to pay. i don't know if that's a consolation prize or not nobody knows how it will end at this point. >> my sense this is my opinion on it, but i think that he wants -- the murdoch family trust to be the largest shareholders in disney that's his legacy. that's his estate planning i think that's the way the situation will resolve. >> right julia borestein has been on the disney call. what did you hear? >> reporter: right now bob iger is speaking to investors hosting the call now he's stressing the importance of the six-month leave time they have they've been working with regulators around the world and they're confident they will get regulatory approval. and they've already been really investing the time in this i've noticed looking through bob iger's prepared remarks here, he talks about the valuable assets, the premier entertainment

brian: so, and robert mueller, you think he treated you fairly? >> no.hat was called the john kiriakou task force with an effort to finding crimes to pin on me at wre breneman's urging. brian: you served your time, wrote a book about it what are you asking for now. >> i would be forever indebted to the president for a pardon. this president sun like other presidents. you know, barack obama and bill clinton, they gave pardons and commutations as they were running out the door at the end of their term. so they didn't have to face any political fallout. this president is different. this president accepts political responsibility for his decisions. he has been pardoning people sings he got into office because he knows that he is doing the right thing. he sees an injustice and he corrects it. and i'm humbly asking him to correct this. brian: you know what? open up the case and if what you say is true. i think you certain solid a strong case. john. thank you so much. >> thanks for having me. brian: meanwhile straight ahead, hud secretary ben carson joins us. i

punchy is the new nickname for robert de niro. ainsley: brianl beliefs. the cursing and anger. those people that voted for donald trump also go to the movies. why would you alienate them. it is bad business. michael loftis made a tough decision. he came out as a donald trump supporter. can not belief the derision he felt. we asked him earlier what he thinks about hopwood helping out democrats. >> finally hollywood is helping the democrats. finally. that is all they ever do is help the democrats. and i find it just hilarious that the democrats have to turn to hollywood for their messaging. how horrible are you as a political party if you don't wake up knowing what it is you want to do? it is not the motto. america doesn't dig what you're selling. steve: so what michael mike loftus is referring to. dnc and members of congress on political left, reaching out to actors, directors, stars, to help them with messaging for the upcoming midterms, the presidential, getting people to vote. so we asked all of you whether or not you thought that they had a m

if bob iger was looking for any protection against over bidding, brian roberts is not giving it to him exploring a tie up with private equity that would allow them to get into the $90 billion plus range in britain -- in bidding. alix: and private equity has a ton of money. they clearly have money to put in. -- digestingting that and markets continue to digest news out of the trump administration that we will not see the worst case an area when it comes to chinese investment in sensitive areas. -- won't be more news, as mr. trump would like, on more stringent -- even european banks saw the worst selloff in about two years. alix: they could use it -- david: they could use it. alix: the special at deutsche bank. seeing a stronger dollar although we around the highs of the session. coming up on "bloomberg markets," the open. this is bloomberg. ♪ retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed

this clears the path for brian roberts to make the bid for the fox assets.pecting that today, so you could see the floodgates opening. alix: what other kind of media assets would be at play? yesteay, lions gate, cbs, viacom, all of those shares were rising. it makes it easier for these companies to be bought. alix: the same thing goes for telecom. is this a t-mobile-sprint again? verizon also? they are leaning away from content. knee-jerk it's a reaction to assume the court ruled one way on this transaction at all types of transactions are now somehow good. i don't think it works tt y. you could get a different judge, and as you profiled earli said the government to approve the facts of the case. that doesn't mean they cannot the facts of blocking a sprint-t-mobile transaction. i'm not sure just because you lose one case, a person that gets to that point in their career, means they quit and do not find any other murderers out there. i know that will be the knee-jerk reaction in the market but that is incorrect. we will have to see how those meers play themse

. >> barton, i'm thinking of brian roberts when he gets into a bidding situation he usually comes out on top there are a couple of things at play here. one would be price, and form of payment. as i understand it comcast is offering to pay in cash and may be offering a higher price than disney how much of an advantage, if at all does that give to comcast. how much of an advantage does disney have because fox and disney personally and corporately have already agreed to a deal? >> i think for the murdoch family they would rather have stock. i would be surprised if comcast doesn't find a way to give the family the option of getting stock to limit their tax leakage. >> interesting. >> on the flip side i think disney is perfectly capable of throwing cash onto its offer the form shouldn't be a problem for either of the bidders. i think it is a question of who is willing to put the most stress on their balance sheet? and do we get some interloper? i think at the end of the day, disney would love to have it if they can but i don't think they are going to kill themselves to get there. >> barton

the value of disney's all-stock offer for the same set of assets last night's conference call, brian robertsked about expanding the company's global footprint. >> we firmly believe that the truly great media companies of the next century will be large, integrated entities with multiple growth engines across a wide swath of the global entertainment industry, and we believe our proposed acquisition of fox would not only enhance our domestic position in distribution and content, but would take us to global reach and additional growth in these businesses >> so, jim, we've talked about this setup for a while and we're finally here >> this was an astounding conference call because i thought it was as much about why they should buy and comcast is favorable, and how well comcast is doing and that perhaps it's an aberration that the stock is all of the way down because i spent a lot of time trying to figure out why comcast stock went up on a very high bid and not because there was no stock and the answer is mhey, you dont even know how well we're doing steve was prominently on the call from cnbc, fro

expect comcast to make its offer for fox's entertainment assets official here is what comcast ceo brian robertsaid about his interest in m & a. >> as we discussed during our recent conference calls and web cast opportunities arise for us to create more value for the shareholders like nbc universal our current offer for sky as well as our announcement last month we're also considering and are in advanced stages for preparing an offer that the businesses fox are selling is perfect examples for this. we set the bar high, we haven't been and will remain disciplined. we are well positioned to have substantial opportunities for continued growth in the current businesses, and we're confident and excited about our future >> reporter: net neutrality the obama era rules are reversed as of today ending regulations that internet traffic be treated equally roberts said the company doesn't block and supports an open internet back over to you. >> julia, thank you very much. >>> anything there, jim? >> i think that people have to, again, the parent company of the network. i think people just want this thing to

. >> on the relationship between murdoch and iger and brian roberts. >> yeah. it's one of the few nasdaq stocks up today. a lot of stocks are going down with think with redhat including my dog. >> right. >> we'll get to bob. >> happy friday. first time in eight days positive on the down a couple of thicks that are helping the markets. number one, we've got decent manufacturing numbers. particularly over in europe and europe could use it. it's up about 1% overall some optimism over opec here raising production but not as much people thought. oil stocks are up 1 to 2%. the banks pass the stress test that's a modest positive there's stories floating around that maybe the white house restart trade talks. it's floating around out there i think it's a marginal positive you can see it in the markets. energy stocks are up 1% or so. they're up for the week overall. the banks rallied a little bit here thestress test helping retail has been great, again, all week and semiconducts up there's been damage done to the tariff issues all week we talked about new lows in the big

it would be brian roberts. >> yes. >> so, would bob iger run for president? >> i don't know.'t think that's his plan, becausth every fiber of his bei expects that disney's going to win this battle, if it comes to being a battle against comcast they have every intention of we can get into it in more detail another time in terms of the antitrust differences between the two sides, but they may be significant and not necessarily favor comcast. and therefore, it will have to do more. they have a timing advantage on the regulatory front to a certain extent at disney, at least in a couple of months. >> wow. >> so, i think it's unlikely that he would do that. however, i can't say with any certainty that if they were to lose, he wouldn't reconsider a move for the presidency, but i don't think it's likely. >> and can you have -- >> i haven't asked him, though. >> can you have one iteration of "star wars" that didn't do as well and really conclude that "star wars" ennui has t in do you think that's not blasphe blasphemy? >> i'm not a "star wars"xpert, but i guess i would say no. >> you

from your view, the determination of brian roberts to complete the transaction?at. the valuations they have put on fox assets and sky, it is a very clear statement of intent. they are matched disney on the breakup fees, they are prepared to pay up to $4 billion if this falls apart. they really want this. you can understand why. the media landscape is changing globally, this is really a power-play to position for the next 20 years, having a strong base of content and distribution networks and international exposure and create value. francine: thank you so much. coming up next, howard davies, rbs chairman, we talk about banks and consolidation. pressure and brexit as well. this is bloomberg. ♪ ♪ is "bloomberg surveillance," tom and francine from london and new york. let's check in on what is the largesttictoc, that on ride-hailing. head to bloomberg.com, find out why the world cup is giving a win win win in the age of trump. the most read stories on the terminal in the past few hours. central-bank action taking center stage, china losing steam, the fed hike, and th

nobody knows >> so is it possible that in the back of brian robert's mind he will go to 43 just to makey pay more? >> i don't think it's pressure from the shareholder base. >> do you think he'd do that knowing he wouldn't eventually get it >> we always wonder what his plan b was you come out with a bid you have to believe it's going to be top. it has to be obvious even if they thought it was e it wasn't obvious >> the pressure is on the stock. >> sky is not resolved, fox is not resolved either. fox doesn't have a second bid yet. as brian put his weight to get sky. that's his second prize. >> maybe that's his real play. actually it's sky in that streaming service is really key the question is i know they are precluded under the agreement? that perspective, if there were a deal, it's a beautiful win- n win-wi win-win. >> would someone say something to disney, maybe, it would have to be six degrees of spiration, how does one company get the word without talking to them >> probably the advisers would say we're willinging to go here for fox. if you put 33 on the table, we'll match you. sky a

brian roberts had an eventful night. after that at&t merger, comcast is the story this morning.hat will have an implication on the trump administration. i wonder whether the president touches down in washington and tweets but also has a huge implication for the media landscape. is apprising revelation from the u.s. north korea summit. kim jong-un says president trump promised lift economic sanctions against his regime. president trump did indicate there would be some wiggle room. he said sanctions relief would come before the complete nuclearization of the peninsula. theresa may is searching for a brexit compromise that will keep her government from falling apart. her officials begin work on a key clause in her piece of legislation -- it needs to honor her pledge to pro-eu members that she will take account of their concern if the u.k. leaves the eu without a deal. shares of a payment processing firm have doubled in their market debut. the company processes payments for uber, netflix, and spotify. elon musk has been forced to change his ambitions for tesla. the company is cuttin

at all was it please leave us alone completely or just come with a higher bid and by the way, brian roberts love you. at what point do you switch gears? >> rupert murdoch drives the the seat of his pants. he has a relationship with iger that he doesn't have with roberts. end of the day it's going to come down to what's bigger if comcast comes in with another bigger bid, it could end up, yes -- >> if your shareholders are the largest block of owners of walt disney company forever, in theory it goes higher. >> right a single class share where you have a stake versus a dual class share where you're not as -- have as big a voice in >> can we ask -- when is the winner the loser meaning at what price does this become so painful that there's a winner's purse element to this >> i think it's at the limit already. i mean, they have an easier balance sheet where they can leverage higher. the way that media companies versus the telecom company or cable company, they can always leave it a little higher here's the thing there will be a loser. that loser will still want to buy something. that's the other

as you know, brian roberts is a merger master.s what he likes to do >> right >> what else does he say at some point you have to rationalize -- if you are not going after fox, you have to rationalize and say i'm not doing this, i can do it with that, because i think there are these other options for me still. >> unasked what happens to sky so there is a whole other bidding war happening in the uk on sky >> and the regulators there cannot be as potentially political as we think they may be here. >> they were political in the opposite way they did not want rupert to get bigger in the uk but in that situation, comcast has a higher bid than fox. right. so they have been more aggressive we have not yet heard what fox wants to do to top that bid. >> quickly to that point, listen, there are three members of the 21st century fox board that have the murdock and there are three other guys who run fox division there's seven votes automatically. i can't get around this idea i think the murdocks are, they're going to have to factor in that esti

fee reimbursement in case deal does not get approved the 65-billion-dollar all cash you offering brian roberts right fit why all this going on? telecom companies say that they need to coat they need to be able to compete against netflix amazon hulu out there, so they cannot only just be providers have to be content makers as we'll, there is no word on disney share price down disney has not responded with a match in terms of price i spoke to one analyst this morning, on fbn:am said disney needs to come out with a match dollar for dollar match to appea appease share holders do you have any idea of the have to be all cash but a match going forward they spent roughly 7.4 billion dollars a lot of analysts complained that was too high now we know pixar is very valuable so possible disney could come to the table with a higher prize, fox, said it will review the deal, still pretty much scheduled to vote july 10. >> all right. thanks very much this is an knowledgeab incredible story i suspect back-and-forth here between disney comcast, fox and so that fox shareholders meeting next month 20 beijing secr

brian: robert deniro probably a good actor, using last night's platform at the tony awards to leave the say this about the president. >> i'm going to say one thing, [bleep] trump. [cheers] >> it's no longer down with trump it's [bleep] trump. brian: another reason not to watch meet the parents or meet the parents two. lisa booth and antjuan seawright who i not met in person. is this over the top even for you? >> i probably wouldn't use the choice of the words he used last night. however, i do think he speaks to the frustration, anger of a lot of people in this country on the left and the right. but, if you are a hypocrite -- if you are surprised or pissed off about the language he used then you have to look at the esident of the united states and some of the language he has used calling the nfl players sobs, s-hole countries, racist and thugs, rapist americans. this the is kind of language trump uses in america. brian: some of the stuff was behind closed doors not the tony's. does this show he has a limited vocabulary if you don't give him a script. >> shows how feckless the resistance

brian: robert mueller investigation, robert mueller approval at 34%.ur dad asks you what he should do, what would you tell him? >> i don't trust these people as far as i can throw them. i don't trust them. ask the questions, 50 hours, 100 hours, oh the comma is different here. now we got you. the greatest investigative bodies of the world have been looking for two years, two years, they have come up with nothing. by the way only come up with what they themselves were doing to try to set this up. i wouldn't do it. think it would be stupid. i don't any proper would say you should do it. it is not about collusion. can we get him to say something interpreted as somewhat after and inaccurate, after 50,000 questions you make a mistake. that is how we get you. that is not what this is b we're not talking about russian collusion. they have given up on that. it is constant attempt to try to find something to undermine this president, this duly-elected president and again, for me as an american. when i'm around other parts of the country, people coming up, what

we're honored to be joined by congressman robert aderholt, brian babbin and dana rohrabacher.tand up, please thank you. a special welcome to a strong, powerful, wonderful woman, does a great job as governor of one of my favorite places in the world, alabama, kay ivey kay. [ applause ] am i doing okay in alabama i better do okay in alabama. we love alabama. i also want to recognize three true american heroes the first woman to command a space shuttle the great, eileen cod up, eileen great job. great job. a lot of time in space along with legendary apollo astronauts jack schmit and buzz aldrin buzz has been a friend of mine for a long time. jack, thank you very much. thank you. and i also have a list of some of the ceos and chairmen and president of these incredible companies. wes bush, ceo of northrop grumman. where is wes thank you. thank you very much. thank you. gwen shortwell stand up, gwen she'll end up running for office soon bob smith, ceo of blue origin. very active. thank you, bob hear you're doing a great job. president and ceo of united launch alliance, that's a comb

we think once you get that brian us we think roberts is a great operator, and that stock is down 30%ts highs and we've been adding like crazy down here. funny that joe prefaced your picks that way. we have comcast, which is, you know -- in addition to trying to get those deals done the cable companies are noted by consumers terribly positively. you have wells fargo and you facebook, which currently is enmeshed in some stuff. >> we like to say we have to for our gag factor stocks. if you look and go what are you doing that indicates not a bad thing. it indicates people are scared, people are running from those names and that's what we like. julie: explain to me in the case of wells fargo in particular why you've got to that gag reflex because every time you think that wells is done with all of its scandals, something else happens. is there's a hundred foot drop. what we think still is they terrific banking assets so they're historically have been worth more than say a or j.p. morgan which has more investment banking or trading so they're year,le year after income from banking is good.