loeb and chapek have had conversations. they're considering folding hulu more into disney plus, on the heels of a weekend full of panels and presentations about what's next for the company's various divisions including the studio and the theme parks. they announced a list of movie themed attractions that are coming to the various parks and they also revealed some upcoming movie clips. you mentioned black panther and also announced some new pixar films including a sequel to "inside out" as well as pixar's first long form series on disney plus chapek is talking about using disney plus as what he called a, quote, experiential platform he didn't use the "metaverse" word, i know you hate that word, jon. >> i do, and it's fun to be a hater of that narrative. besides the fact that i think it's right to hate it. but i really want to ask you about sort of this challenge to invisibility, perhaps, that disney now has on a number of different levels, like the post-avengers plan they laid out for marvel, the post-rey plan for "star wars

chapek's thinking at all at this point.hen are we going to be able to gain full control of the asset. >> that was interesting, the comments on hulu and the auction. bernstein today says, presumably in the wake of the buyback announcement at comcast this week, david, allocating more capital to buybacks precludes comcast from performing any large-scale m&a in the medium term. >> it would be a big price tag regardless as i pointed out and he concurred, it's not -- you know, it's not just looking at the market value of other direct-to-consumer companies and saying, okay, let's put that multiple on hulu it's hulu and a sales process which includes a control premium which might make it more expensive. certainly something we'll be watching as this year ends and, again, it's 2024, which is not that far away, that they do have that option. >> yeah. well, we talked for a long time about how they managed to broaden the umbrella more adult, so to speak, content beyond the disney brand. that would be one way to do it fascinating. the fl

they have expanded under bob chapek.hey have expanded programming to have general entertainment, but the essence of disney pluses for fans of the brands. not only families, of course if you have kids you are more likely to be a fan of those brands, but also for adults. single people and couples are fans as well. that is the focus of disney plus. if you are a fan of one of those brands, you kind of have to have disney plus to satisfy the affinity you have. you can't get that programming elsewhere. netflix of course is much broader based. it is very much a general entertainment brand. i think that has the broader footprint and i think disney plus is typically going to be an add-on to netflix. both are doing great. both will be "winners" in the battle for a successful rollout. i think both are going to coexist. i do not know that either of the cash that either of them care if one is bigger than the other. emily: streaming has surpassed cable for the first time. hbo's house of dragons has been a huge hit. who else wins and w

. >> well, melissa, this is a win for disney's ceo bob chapek.loeb on board. this is a rejection of loeb's call to spin off espn, part of a series of requests he made after he disclosed a $1 billion stake in the company in august he responded, tweet ago link to chapek's comments. he said we have a better understanding of the stand-alone business and another vertical for disney to reach a -- we look forward to see mr. pataro, espn's president, execute on the growth now to the proposal that they accelerate the timetable for the remaining stake in hulu from comcast, chapek say it's possible and they are considering folding hulu more into disney plus of course, it all comes as to launch much more movie-themed attraction and extend pixar beyond just movies mel melissa, cheeker is at d-23, feeling bullish and confident. >> julia boorstin, thank you >>> gwhat do you think of the plan >> i would hold on to disney espn, people say it's still an anchor i think espn could actually be a driver going forward, just in terms of where the world is going, with ga

chapek about that because i am going to have an opportunity to sit down with him at the communicopiaer in the week where he will be my best we're looking forward to that. >> ask him about hulu, david that was kind of odd, wasn't it? >> i will ask him about hulu and espn i will ask him about disney +. we're going to have a long-ranging sitdown interview >> don't forget to ask about the theme park in new mexico don't forget 300,000 acres that i have proposed >> if it's the last thing you do, jim, you're going to cut the ribbon on the opening of that new mexico theme park. >> because i was in italy, i didn't put the shovel to ohio. >> that's where i'm going, right? that's the first question, jim don't you worry. >> well, don't worry, because i know the answer. >> well, you know, eiger spoke at code last week, pretty interesting comments he did get a bit into the metaverse, said it was interesting but early. today, jim, cowen, while we think it's an enormously important technology, we also think realization of the metaverse could be at least ten years away they initiate roblox underperfo

the company later announcing the feature will focus on the store line of the marvel films chapek using event to tease disney plus in the metaverse looking at ways to blend the physical and digital world >>> visa, mastercard and american express will make gun shop purchases separate from other purchases. it will add a new category for firearm retailers and big box retailers will have a different code until now, they were categorized with a different group >>> jpmorgan chase agreeing to buy payment start up renovite. the move will help jpmorgan chase fight off threats from other fintech firms. the deal marks the latest fintech deal with the bank buying five startups since late 2020 >> silvana henao, thank you. >>> turning to markets and technology stocks in the sector looking to keep rebound going nasdaq snapping the three-week losing streak last week with it and the nasdaq 100 climbing 4% the best weekly performance since july let's bring in nancy tengler at laffer tengler investments nancy, whether it is dead cat or whether it can fizzle out like this over the last 12 years, technology

bob chapek has a three year contract and he's in control with his business team the parks are on firearks are all open they just launched a new cruise ship which is 100% occupied, two more ships coming. growth in the theme parks. and film people are coming back to theatres and the most talked about movie is "avatar ii" which comes out before christmas so they're getting their footing. they had a tough time during the pandemic most of what's going on in the current environment is extremely positive for disney. >> one of the other things i saw that came out of david's interview with chapek, he said he'd love to own all of hulu tomorrow but chances before the deadline are slim. what are the chances here? >> we're all waiting for the put call in early '24. our expectation is that disney does buy in comcast interest when that happens it'll be significant because they'll be able to consolidate the ad tech platform, the marketing. so there should be good cost savings, marketing, and they'll be able to put it together a driver for them has been general entertainment. so they're expanding that

regulators seem to think so and we'll talk about it, coming up >>> plus, disney ceo bob chapek speaking candidly about their future in the streaming world. we'll round up all the headlines and a look at what could be ahead for the death of a la carte tv, aka, cable 2.0 "the exchange " is back after this striving to reach the ultimate goal of zero poverty takes more than everyone's hopes and dreams. at citi, it takes a financial commitment to companies who empower people to lift themselves up. it takes funding and building on our know-how to help communities grow. that's how citi is helping create a better future by committing one trillion dollars in sustainable finance by 2030. because it takes everything to reach zero poverty. ♪ ♪ >>> welcome back to "the exchange." let's talk about the buy now, pay later boom block, formally known as square, which owns afterpay surged during the pandemic. affirm shares nearly doubled in their debut, and paypal launched buy now, pay later as well everybody was sitting at home buying stuff online, and many people, particularly younger people, were payin

kickoff at the company's d 23 conference in anaheim over the in an interview during d 23 ceo bob chapekd that the company is working a sports betting app saying sports betting is a part of what our younger say under 35 sports audience is telling us they want as part of their sports lifestyle. those who keep score on the sports world say the move would make sense with minimal impact on the disney brand. disney is already tied to espn. this talks about standoff see connecting it with us and they are the king. of course, that's where everyone goes for their sports information. and so i think it's natural marriage of sports. betting is clearly big business. the american gaming association says so far this year, more than 50 billion dollars has been wagered on sports. >> it is now legal in more than half of all state. and with return of football season, you can bet more people are joining the field, especially now for complete football season. >> so and people are now from a ridge kings and they see all the different types of bets and content that we offer. but soon a disney backed app could

i think i'm more on david's side chapek last week seemed to indicate that the younger disney user isif it's on a third party, and certainly ready to watch more adult content on a disney platform, hence the hulu strategy >> then why is it where it is? why is it where it is? because it's -- >> asked and answered. asked and answered >> well, i just think that when i look at cable, no, i don't look at cable anymore. because i have to protect my eyesight >> you realize what we're on right now? just making sure >> i don't know. >> what's paid your salary for all these years? >> no, look, i think these stocks are cheap i just think they need to raise on debt. raison d'etre. any comments on our parent company since you're ready to throw around a lot of criticism? >> they generate a huge amount of cash. they pay a great yield stop it. you big meanie listen to me >> it could have been a lot worse. >> they do, jim. it generates a huge amount of cash >> i put it on the market because it's too cheap how about the value? no stop laughing at me. >> guys, let's always -- that's painful. sorry, yeah.

. >>> disney's ceo bob chapek is considering merging hulu with disney plus. any merger with the two services would require the company to buy one-third of hulu which is owned by comcast the two have agreement for disney to acquire comcast stock in 2024. >>> california is filing a lawsuit against amazon alleging anti-trust amazon's rules bar merchants from selling products at lower prices on its web sites. dom. >> silvana henao, thank you very much >>> we have a quick market flash. ethereum completing the merge. marking the most ambitious software in the crypto world today. the upgrade is set to reduce the ethereum energy and carbon footprint by 99% right now, cryptocurrency is up. bitcoin up 1.25% ethereum prices $1,602 up .75%. >>> when we come back, the clock is ticking on the country's first nationwide railroad strike since the early 1990s. now congress is getting involved we have a live report from d.c. straight ahead. >>> and president putin and president xi meeting with a face-to-face for the first time since the russian invasion of ukraine began. it is

we will get good insight a little later this week as well, when our own david sits down with bob chapek. that's this coming thursday and you do not want to miss that let's get to christina >>> three children have died after being found unconscious at a brooklyn beach monday morning, and the police are questioning the mother multiple family members said they thought the mother might cause the children harm. >>> now to tennis, and the youngest player to ever reach men's number one, and he defeated the number five player in four sets to win his first major. and tonight on cnbc and peacock, you can catch the emmy awards. two other first-time nominees, "severance" and "yellow jackets" will battle mainstays in a crowded race for best drama. can't wait scott, back to you >> thank you >>> the latest trends in eta investing straight ahead, and anthony scaramucci is joining us we'll be right back. ♪♪ this... is the planning effect. this is how it feels to know you have a wealth plan that covers everything that's important to you. this is what it's like to have a dedicated fidelity advisor looking

just a little piece of that legacy. >> reporter: tomorrow, we're going to have even more with bob chapek a look at your local spencer: today when highs inn >>> now to >>> now to celebrating the queen of pop culture. queen elizabeth reigned over the radio, television and even twitter with portrayals of her majesty appearing in countless movies, tv shows and more. deb roberts has the details. good morning, deb. >> reporter: good morning, michael. and that explains a lot. though she sat on the throne for seven decades, the 96-year-old queen seemed to have a knack for staying relevant. she had this global popularity and she discovered this knack by turning up in unexpected appearances and big cultural moments showing off her sense of playfulness and humor, which was on full display for a new generation. while the world mourns a monumental loss of queen elizabeth ii, her iconic pop culture image lives on. with an influence spanning decades, generations of people have come to know her. before social media, before the internet, before tv, the queen's had one of the most visible faces in history

tiers, the disney ad tier coming in december, netflix, obviously, and how conceivably, you know, chapekalked about it being at the at least margin neutral so maybe even accretive >> i found myself thinking paramount's too cheap. look, live entertainment, plus gambling gambling is gigantic in this country. and i'm thinking that, yeah, tony romo, the best games. amazon pays 13, right? all those thursday night games are, like, wow, tampa bay coming out, let's put in jacksonville, they're just as good, they're from florida last night, they had the two teams you most want to see it looks like amazon on thursday night. they get the pick of the litter. >> apparently. guys, i did -- >> apparently? >> since you've been asking, bakish was very positive on the advertising. >> do you have a clip? >> on the advertising world right now. i do i have a clip. again, taking into account that there is a perception that things are very weak take a listen. >> the market's actually pretty good i mean, the digital programmatic side is weak but the linear side is pretty good but it's more people are talking ne

don't miss a cnbc exclusive interview with disney ceo bob chapek tomorrow at 9:00 a.m.i want to go around one quick time on media stocks jim, you own paramount a lot of talk about their streaming service, the viability of that, a lot of competition. where are you at with paramount, looking like it's hitting a 52-week low today. >> it's not a good week. the viability of the streaming business is perfectly fine the concern is they're having to spend on content i think it's a very short-sighted concern, because they've got $4 billion of cash on the zbbalance sheet and theyr free cash flow positive from their legacy businesses and things like studios are rapidly coming back. i think the market is just frankly getting this wrong the outperformance quarter after quarter, in terms of subscriber numbers and staying on track towards profitability shows that this is a good management team that you should have faith in. i do >> feeling good about disney as well >> i am. >> carrie, you also own charter communications that also hit a 52-week low. >> charter has been a very poor stoc

times reporting disney is looking to merge hulu and disney plus in an interview bob chapek said the consumerthat disney plus consumer wants more general entertainment. he added once disney buys comcast hulu's stake, they can figure it out. an interesting move coming. >> it seems like such a fractionated market, anything that could make it a more seamless experience for the consumer would be a good thing. >> he said disney plus viewers want more content. perhaps it's a way to do that. >> thanks for watching "power lunch. >> "closing bell" begins right now. >>> thank you. stocks are rising on wall street building on last week's rally as investors await tomorrow's key inflation report welcome to "closing bell." i'm sara eisen take a look at where we stand in the market up about 200 on the dow. another broad one as well. the s&p 500 up a full percentage point. every sector is green. energy, technology, consumer discretionary leading the charge apple is at the top of the list. we're going to talk much more about that move in a bit if you look at some dow winners, you can see apple is powering tha

brand ceo bob chapek said, quote. >> we're working very that all way to cause. you said disney.. so some are wondering what kind of backlash though disney could face jumping into this industry which is known for getting people hooked on dambling. and that's not always a good and they're going to companies that, you know, are very different boards. yes, that many sports experts, though, say >> an app like that will be linked to espn. not necessarily disney. it's it's been 80% owned by disney. so they've got controlling interest and we'll see how they and had been water i mean, it's quite like this, but it's like, you know, candy company owning a liquor company. you know, i mean, think there. >> don't think they different goals. think so. we'll be right back. this labor day, save on select major appliances and get free delivery. get the lowe's exclusive whirlpool laundry pair, with the 2-in-1 removable agitator that lets you customize any load. get the products you need this labor day. research shows that people remember ads with young people having a good time. so to help you rem

and ceo bob chapek for disney was asked about whether or not they're going to do it.klash for disney jumping into an industry that's known for getting people hooked on gambling. so i don't know. it's all about your brand. what brand you value more. well, see you know, they own 80% of espn. espn. >> is going to get in on this. yeah. it's like owning like i was saying before i candy shop cigarette store. you know, you like conflicting messages there. an event 7.42. is the % time. we'll be right back. ♪strutting your way into my heart♪ ♪take your hat off make yourself at home♪ ♪how about stay the night then strut on home♪ ♪day 1, i'm in love with your strut♪ ♪day 2, i'm in love with your strut♪ ♪day 3, i'm in love with your strut♪ ♪guess what, i'm in love with your strut♪ ♪i like your strut,♪ ♪do you wanna go struttin' struttin'♪ ♪you like my strut♪ ♪do you wanna go struttin' struttin'♪ ♪you like my strut♪ ♪then let's go struttin' right now♪ ♪ >> 7.44 and happening now, queen elizabeth body is going to be returned to london about an hour from now. our time they'll be fly

in fact if you read that article that came up this weekend, it looks like bob chapek, says he's had regularbacking off the push to spin-out espn, because he thinks there's more value. now, i would argue, if you look at this tweet, i think lobe says it very clearly. he says that we have a better understanding of espn's potential as a standalone business, a vertical to reach a global audience to generate ad and subscriber revenues and we look forward to see the head of espionage else execute on the growth front. now what i want to make the argument. is there really that much value in espn as a standalone entity? isn't it kind of an aggregation of sports licensing deals any ways? what sort of ip do they have, espn except for the brand itself stuart: i'm with you on that one now, i believe bristol-myers squibb is up 7%. they've got a new drug which has won fda approval. what's this drug for? >> plaque psoriasis, not exactly the most attractive-type condition but a big money maker and it's rare to see a big cap of these type of blue chips move like this up 7%, so look it's a first oral drug to b

separately, disney ceo bob chapek says espn is critical to the company, including sports betting. are just getting some headlines about the better administration perhaps broadening their curbs on u.s. ships exports. this is according to a reuters' report. it is based on restrictions communicated to letters such as kla corporation, forbidding them from exporting chipmaking equipment to factories that produce advanced semiconductors. that is what is going on in this part of the world. let's have a look at what we have going on in the show with the worst not over for energy markets. market- [announcer] imagine having fuller, thicker, more voluminous hair instantly. all it takes is just one session at hairclub. introducing xtrands. xtrands adds hundreds or even thousands of hair strands to your existing hair at the root. they're personalized to match your own natural hair color and texture, so they'll blend right in for a natural, effortless look. call in the next five minutes and when you buy 500 strands, you get 500 strands free. call right now. (upbeat music) haslinda: welcome back

opportunity in the metaverse, to be serious about it, and by the way, disney obviously, i talked to chapekbout this week, he doesn't call it the metaverse, but he has a different name for it because not everybody wants to adopt meta's name for it is seen as significant and you're going to have to have a presence there, clearly as carl just said you're going to have people you're paying millions of dollars to set your strategy >> i think that when i speak to nvidia, jensen huang, brett taylor, when i go through all the -- when i went through all yesterday, the different booths of salesforce, i know this is probably not what you guys want to hear, but we're going to have to have a special five-minute meta piece we're going to have to be in a meta mall, the three of us that's how powerful this is, and it may replace a lot of what we see and hear about us. but we are going to have to be in -- every show is going to have to be in there, at least for a few minutes. it's that powerful >> do we have to spend, like, 10 minutes trying to high five each other? there we go. thank you. can we move past

. >> oh, wow chapek's beard makes me want to buy the stock but the tear makes me want to sell it >> guys, as we go to break, let's take a look at the bond report we mentioned the two-year, 2.75 -- sorry, 3.75, highest since 2007 yields up across the board as for markets, as we said, holding 4025 or so all dow names are red except for proctor, just went green meta, the biggest loser on the s&p. we lost about everything trying to pay for prescriptions. we spent our whole pension but couldn't keep up. so my husband just stopped taking his medicine. and then he had a stroke. i can't get back what i lost, but thanks to aarp, a new law will protect seniors with a cap on their prescription costs. that could have changed everything for us. i'm just grateful that no one will have to face the terrible choices that we did to adapt in a fast changing world, that no one will have to face you could hire a professional pit crew. go, go, go. sorry. nope. okay. fresh donuts - hot coffee! they deliver real time data and business forecasts when you need it. i think it was fine how it was. (air tool sound)

david faber is at one market in san francisco, his exclusive with disney's bob chapek is moments awayigns that prices are falling, not rising, and a $20 billion software deal from adobe and that's where our road map will begin this morning, that desig

disney's expo over the weekend, the ceo bob chapek has big plans for espn he said the company had no less thanpeople who wanted to buy espn >> two questions one is no word, i don't think, on the gaming piece of this. a huge part of the loeb thesis at the time. you need to spin this off so you can pursue gambling in part because of the view inside disney as a family owned company, you couldn't do that. does this open that possibility up and this to me is a tactical question disney's clearly brought dan loeb under the tent to some degree is he now regulation fd, is he is insider for some period of time how does that work he clearly had some kind of meeting or access to them in a way that most other investors have not again, what they told him and how that differs from what they told others? i don't know to me, it is something i woke up thinking about >> activist dan loeb that's a slow news day >> disney. big deal espn not sold off. >> i guess i don't care i like him he has a lot of money. he take stances. you think he will ever say andrew ross sorkin changed his mind on something at th