joining me, david westin this morning. it is a great day in new york, 14th year of ceremonies and moments of silence. ago with 14 years charlie gibson on that moment. david: thanks for having me. all of us were thinking about where we were 14 years ago. i was watching as the traffic copter went into the first building, then watching as the plane -- as the traffic copter filmed the first plane going in, and then the second. tom: it just was extraordinary. we will have coverage all day on bloomberg television and bloomberg radio. i can say to all of you worldwide, please make a visit to lower manhattan. the drama there, and the improvement in the architecture, the new architecture, in the last two years has been extraordinary. let's go to top headlines with david gora. -- thewe could see forecast for crude has been lowered once again. goldman is trimming a 2016 estimate for a west texas crude to $45 a barrel. that is down from the may projection of $57. it is also slashing its brent crude prediction. the iran nuclear deal wil

joining us is the chairman and ceo of the tennis channel and david westin. talk about serena. does tennis potentially have a tiger problem when serena finally decides to retire? an: there certainly will be point when a person like at least. i don't know when that will be. i've been answering roger federer for a long time. i'm not sure when serena is going way. i don't think so. david: a tremendous amount of personality in this game. she had a terrible physical injury. she almost did not come back. >> here she is coming giving us a can of drama. yesterday, down in the first set . what all of our guys will tell you is it is remarkable that she continues to win, not necessarily playing her best tennis, but she refuses to lose. >> and she is an american. there aren't that many at the top of the game. >> it is rare because of all the countries that want to be there. look at baseball today or basketball. brendan: let's talk about the business. you did not pay a be to espn this year. that's a sublicense to espn this year. is that a fancy way of saying it was too ex

angie: that was warren buffett speaking to david westin. alibaba shares has wiped $140 billion from its market value and took the title of asia's largest internet company. david is here. who is the new king? david: it is a company called 10 cent. sharesing said, alibaba fell 5% overnight taking these losses. $140 billion at the peak. this is a chart of market value. we are now at $150 billion. 10 cent is roughly at about $156.5 billion. it is slightly bigger on that metric. that being said -- this is a similar chart, but this is just converting it to u.s. dollars -- shares have fallen. it has not fallen as much as alibaba. obviously, the changing at the top is not so much a reflection or recalibration of the future of internet in china. it is just that all of it is sentiment driven. foreign investors thinking about going away from china and the first thing is alibaba. angie: is the name to remember. remember.ame to david: it is name recall. enterprise value very quickly -- 10 cent is worth a little bit more. there is a fairly bigger differen

tim: you have been listening to speaking with david westin. other top stories we're following or you this afternoon starting with north and l3 of trying to wrap -- ratchet down tensions. unions of families divided by the war in almost two years. each side will send 100 people to a north korean resort next month. 56,000 south koreans are on the waiting list for those reunions. the biggest names in private equity has announced the higher of one of the biggest names in british as is. he broke the news right here on bloomberg to test bloomberg. hasjohnson, justin king been named as vice-chairman of his company. they also discussed the investment climate in today's global markets. investmentdifficult landscape, probably the most difficult in my lifetime. what that means is in terms of private equity, there are opportunities, quite short term. you really have to grab them and be able to execute them very quickly. he is looking to kickstart in the tmi takeover bid. --e big higher the: meanwhile in pharmaceutical industry, a $27 billion hostile takeov

earlier brendan greeley and david westin spoke to ken solomon and asked him if there would be avoid ins after williams retires. inhere would be a void tennis after williams retires? >> there would certainly be a void. not sure when serena's going away, but i do not think so is the short answer there. a tremendous amount of personality in this game. >> a tremendous comeback story. terrible physical injury she almost did not come back from. >> here she is giving us a ton of drama. down in the first set. classic serena this year. you it ism will tell remarkable she continues to win, not necessarily playing her best tennis that refuses to lose is what more people say than anything. she is a remarkable individual. at the top it is rare because of all the countries that want to be there. look at baseball today or basketball. not like anything is american. talking about the business. you did not pay a set of to espn this year, and because you decided to do, is that the fancy way of saying it was too expensive? >> we have an ongoing annual relationship that goes espn. the air with it is huge.

david westin joins me as well. what is the problem?hee sequels answer. >> for a while they were. i think what we're seeing now this technology came to life, computer-generated imagery. suddenly it became possible to make credible movies out of the data that existed, superheroes, lord of the rings. so all of that was reminded , and because it was so successful, we had a lot of. everything comes to an end sooner or later. we are now down to antman. for wille top 24, only be original films. four will be original films. the nature of the cycle is such that the best property gets monetized first. as the market get situated, the market is -- we see the market collapse on itself. matt: you ran abc four years. did you see this as well? cycles with less original content that you had to rely on older content. >> i never dealt with movies. absolutely you see these patterns. you go through these patterns where there is a lot of dramas and no sitcoms. people say are the sitcoms did? then it should expect the other way. i was there when we had milli

joining me, david westin this morning. in new york, 14th year of ceremonies and moments of silence. ago with 14 years charlie gibson on that moment. david: thanks for having me. all of us were thinking about where we were 14 years ago. i was watching as the traffic copter went into the first building, then watching as the plane -- as the traffic copter filmed the first plane going in, and then the second. tom: it just was extraordinary. we will have coverage all day on bloomberg television and bloomberg radio.

shares.disney also, david westin.il with a blue dress sitting next to me, stephanie ruhle. princess leia for the segment. lot inion is a merchandise sales. would that be the most ever? >> not even. it does sound like a big number, of course, but we look back at how the "cars" franchise has done for disney in terms of consumer merchandise and "frozen" came out nearly two years ago, but it is done over $5 billion merchandise. erik: all of those wands. >> lots of little girls and little dresses. " had more. overall generated more than $10 billion. i don't think $5 billion for "star wars" is such a big number. erik: is a conservative estimate? >> i think it is. that is retail sales gross. >> typically disney licensing might be 5%, a percent, 10%. if you take 10%, let's say $500 million of revenue from disney in your one. erik: you used to work -- >> i did. erik: david is former president of abc news. you know the leadership well. disney owned six are when you were there. -- pixar. bob iger has three feeling pretty done go