dan loeb reporting he's upped his stake in sony to 70 million shares, or nearly 7% of that company. evealing the details in a letter i obtained last night, the second letter he's now written to sony's ceo urging the company to separate its entertainment and electronics unit. loeb writing the following. we remain convinced that the proposed transaction will strengthen the company as a whole. the newly listed entity will thrive with a governance structure that focuses on increasing profitability, competitiveness and accountability. we expect that this transaction will strengthen rather than diminish sony's ability to exploit meaningful synergies between the entertainment and electronics divisions, a goal we share. a third point, also reiterating its offer to serve on the board of directors. loeb writing that kazuo hirai should remain. it's been a busy 24 hours. the activists never sleep. and as a result, neither do i. >> when are you expecting a dell resolution? >> i don't know. now, we'll see what happens. you know, the shareholders meeting is, i think, in a month or so. so this is go

dan loeb argues that sony's entertainment business is worth about $10 billion and the sale of stocks as much as $2 billion. mr. loeb continued that sony could boost its share price by following his proposals, but he did regret to acknowledge that sony is regaining its edge with new playstation 4 game console and new smartphone models. sony said that the company will review mr. loeb's proposals but declined to comment on the specifics. some analysts are saying that these proposals are positive for sony and its shareholders, since it would boost its value. sony's shares rose 4.4% today and the company will hold its annual shareholder meeting on thursday this week in tokyo. back to you, ross. >> all right, shuchiko, thanks for that. >>> sprint is suing dish network to block its offer for clearwire. they claim dish is trying to coerce them and rejecting sprint's competing offer to buy the rest of the company it doesn't already own. this comes as dish is also facing its last chance to increase its $25 billion offer for the company. locked in a bidding battle with softbank, dish raises nati

>> and david, here is sony activist dan loeb asking for a second time to spin off the entertainment arm. the firm is third arm staking that company, david. >> well, the battle over wire, and the battle over sprint or maybe not. sprint is filing a lawsuit over dish, and we will try to sort it out for you. >>> and the protesters are feeling the pressure of biggest cities of brazil, with rising prices being the root of the demonstration, and we have the details and the amazing video of what is happening in brazil, guys. >> today is the day for the federal reserve policy makers to kick off the two-day meeting. the investors are bracing about the bond buying back program and if it is going to be scaled back, and if it will be scaled back, and what they had for lunch. and meanwhile, president obama had some interesting comments about chairman of the fed ben bernanke on the "charlie rose show." >> i think that ben bernanke has done an outstanding job. he is like bob mueller of the fbi in that he stayed a lot longer than he wanted or was supposed to. >> this morning the white house spokesman sa

when things turned, those people wanted to get out quickly. >> talk to us about dan loeb and sony. succeeding. number who, would be the next target u.s. domestic investors go after in anticipation of this? >> well, i remember when sony brought sony music in-house, so when they bundled it which happened in the mid 1990s. they had a bunch of different reasons for doing that. one of the reasons that the management talks about now is they think they're better run as one unit. one of the reasons which a somewhat more skeptical person might see is the volatility of the music in the entertainment business -- it is a fact their consumer business hasn't made very much money at all in the last five years. it's all coming from software. the one thing that's kind of important to keep in mind is that sony actually also rebundled their internet business last year. it was a business called sonet. i don't remember the market cap of it but it's $1 billion or $2 billion of market cap. not insignificant relative to the overallmarket cap. i would be surprised if they debundled entertainment or if they

in the letter, dan loeb saying he would, of course, like to be on the board. >> oh! >> he would like to be on the board of sony proper. i'm sure he'd be just as happy if they'd put him on the board of the entertainment business as well. >> right. >> how likely is that? i mean, japanese companies are slow to -- >> i don't know. he sent a -- this was actually a very friendly letter. this was a letter to say we're very happy about everything that's gone on since we first talked you. you've hired financial advisers. we want you to spin this off. the big changes were this idea that he wanted to not just spin off a piece of the entertainment business, but that it should have its own governance, which could be complicated. he wants the ceo of sony to be chairman of both companies. >> uh huh? >> but then he said, and of course, we would welcome an opportunity to be on the board. >> but you made the point when you first wrote about him doing this, about how the letter was not your typical activist letter, because -- >> yes, this is japan. >> -- japanese companies don't deal w

i think dan loeb is making good noise at sony. they've hired banks. let half run.you are playing with the other house's money. nick. >> caller: boo-yah, jim, from orange county, california. >> love it, beautiful area. i lived in my car there. it's great weather. >> caller: my question today is about barwick rolled, gold prices in general.l has gold bottomed? >> actually yes, my go to gold guy said the miners are probably washed out. we don't like those stocks. it costs too much money to find gold. strong economic news. now the market sells off. good news is sell, sell, sell, bad news, that's what we saw today. until interest rates go higher, it's the price we have to pay for things actually finally getting better in this country. "mad money" will be right back. >>> come you can up, health class, tonight, cramer is looking deep into the medical industry. first up, a company with a brand if you way to battle on the front lines of the cancer fight. >>> and later, beneficial breakup? plenty of companies have already proven that splitting up businesses can be a big win

will continue to be in place and you see something from a very smart institutional investor like dan loeb, what he's doing with sony. he and he tells you what he thinks about sony but he's telling you what he thinks about japan that this time is different. >> i think it's really smart. on the entertainment business, it will cause more disclosures. more pressure on the management for accountability. >> he likes abe anomics. >> japan is very, very fat. this is just the tip of the iceberg. the other side of the join is they're protection iistprotecti. >> coming up next on "the half," why one of the worst areas of the market is poised to rebound. a bold call from alexandra leben that will. and later tom barrack will be here live at post 9 speaking publicly about pulling the plug on his company's ipo. he'll also join us for the entire second half hour of the show. tell you how to make money in housing. and he has certainly done a lot of that. so stick around. before their gift helped preserve the point... before a credit solution was used to expand their business... before trusts were created

i think dan loeb's play for sony has to be one of the more exciting stories. e shaking up the board rooms. >> all right. finally, why hollywood loves to hate wall street. take a listen. >> was all this legal? absolutely not. >> we were making more money than what we knew what to do with. >> it's a story that keeps giving. we're always in trouble down here on wall street, it seems. >> i was just out in hollywood the other day having a conversation about the fundamental problem hollywood has. it's really hard to make finance look good on the screen, because in the end if you depict the financial world the way it really is, it's really not that exciting. it's guys sitting in front of bloomberg screens. >> and many of them doing very good things. >> this is an attempt, i haven't seen the movie, barely saw the trailer, to try to solve that problem, and i don't think anybody has really nailed it to be honest since that first wall street movie way back when. i think all the other attempts we've seen since then have fallen short and i think it's because it's inherently

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. >>> dan loeb, don't hold your breath, sony's ceo saying that the company is considering to spin off the entertainment business burk a decision won't come quickly. >>> and weeks of testimony from executives after apple, amazon and google are coming to a head. the price fixing case of apple case, and we will be live on the scene. >>> all right. so what happened? amid all of the market volatility and the fed speak so much made of the rise in the rates on "squawk box" and ceo of wells fargo john stumpf said that the rates need to continue. >> and the fact is that we need to get back to normal. and it has been four or five years. >> well, the market, david and kelly, certainly doesn't like the fact of where the rates are going, and i'm almost shocked that the market reacted the way it did after all of the build-up and everybody saying, yeah, he will talk about tapering and they will talk some of this or that, and yet notes out this morning, ubs surprise, and goldman sachs, sans shock. >> and you look at what is coming with the expectations of the inflation coming off and the fact that th