t the ellison family, led by larry ellison, and kkr.kr is not a new investor in the additional transaction that follows that valuation. by the way, you value at $4.75 billion, so what do you do if you're paramount? you issue 317 million new shares. they go to redbird, ellisons, kkr, and then you turn around and you're the skydance investor group, you're not just buying nai for $4.2 billion. that does include debt. it's about $1.75 billion they're paying for the equity. you're also turning around and buying 48% of the b shares at 15 bucks a share or at least giving the opportunity to shareholders to sell that to you. that costs you $4.5 billion. then you're putting $1.5 billion on the plbalance sheet as well delever the company. the hope is that it will help with delevering. the new owners, and i'll get to them in a moment, they own all the a shares, because they're not just tendering, by the way, for the bs at 15. they're also tendering for the other as, the other as that aren't owned by nai at 23. so you basically control the company.

>> david ellison gets his way. he will acquire redstone holding company and paramount will merge with sky dance, which is the acquisition since paramount is a larger company, but since it is this guidance team taking over and seen as a merger. then he tries to turnaround paramount. it is been a media company that has been in decline for several years now. they had a call with investors this running were david ellison and his deputy and some other members of his team explain why they think they can have more luck with that. ed: we explain in the news story about the background, the saga it is. it is worth explaining who is david ellison and what is guidance? they are a big name behind some big things. >> there was a portion of the call that started with that where you guys know a lot about paramount and you probably don't know as much about sky dance. david ellison first got known to people because of his father larry ellison who was one of the richest people in the world thanks to the oracle. larry's two kids david

david ellison. >> yeah., he just looks at the tape constantly. >> mongodb can't lift its head. broadcom is exactly -- just one for one with nvidia. it's terrific. and by the way, hock tan is someone who has a lot of money. you want to talk about people who have a lot of money? >> sure does. >> the ten for one pays out friday. >> that is going to be, let everyone know, that right after chipotle and right after nvidia, there was churn. don't feel like you should buy it ahead. that has been a bad strategy. >> and broadcom is in the $800 billion market cap. >> that's my point. >> i know it is. with lilly, tesla. >> lilly, i think, is $900. >> lilly is under nine. >> we mentioned barclay's going to $932, jim. they think mounjaro beats. >> how many plants can you build? how quickly? these are $5 billion plants. they are very hard to make, and in the meantime, all that happens is people say they might have a pill. believe me, david ricks, ceo of eli lilly, is going to be first with a pill too. and now they securich

as long as he is always ellison analysis, loyalty was always a good mix. and that is, i think, the most wonderful explanation, what else was involved with that involving when it came, says this contract with them that she didn't want to. so they give up names as well, and getting to explain something that one of the thing easily explain to you to day guys after the end. it's a little after ellis died, his family attempted to clear his name. prime minister margaret satcher, however, refused at the time to either confirm or deny the accusations against elizabeth pincher had made that caused ellis's daughter and sally to return the metals that her father had been given to the british government. was elis ever formally exonerated? and if not, why not? now he wasn't living formerly, don't write it even those doors and had written to them from mister norton to live with satcher. ah, so that's my site. i satcher refuse essentially now by saying, you know that if she were to make this exceptions ellis, that she would have to call me on other cases. and she was wit

david ellison, son of larry ellison, he's a big tech guy. new school. it will be fascinating to see how it turns out. >> "breakfast at tiffany's" and "the godfather." is there something more recent? >> i'm trying to underline the iconic movies. >> they're doing streaming. >> they're doing streaming. but there's a question because they've been knocked by wall street for investing a lot in streaming. one of the big questions is whether or not david ellison will look to pour money into that. >> what else does one do these days other than streaming? >> the question is who's watching? cy've cut down a little of my streaming. of course, nbc i always watch, but there's been a culle of others. >> it's interesting to see, david ellison, the younger generation, trying to get in. obviously the past week has been about biden and the world of finance. there's been threats to withhold money from the democratic party unless he leaves. what is the mood i a among the democratic donor class here? >> what's really interesting is what they're not saying. we spo

it has backing of larry ellison and mark lasri.ts. >> ahead of the final weekend, which will shape up to be great races. thank you for being with us. >> thank you. >> everyone in sports wants to be the next f1 in terms of its success, mainstream appeal. sail gp has a lot of those elements, high risk, high stakes, $2 million prize this weekend. what do you need to do to get to the next level to have that mainstream access? >> the interesting thing is we've seen incredible growth over the last, really, six months even. new teams coming on. we just announced a new team from brazil, we have another announcement in september, another exciting team. as we expand into those markets, i think we're drawing more fans and really see what is even an exciting racing product. i was just saying before that really what we're seeing is this isn't the avid sailing fan following sailgp. it's the general sports fan and also the people that are interested in the back stories behind the athletes. >> you've got a growth fan base attracting more investor

he's got to be topping the charts again. >> you were talking about larry ellison earlier.ou can't -- he has a reportable stake in tesla, but i think he may still own 1% of the company. >> that's a good point. yeah. ellison is -- yeah. >> he's doing okay. >> he's really rich. >>> by the way, you mentioned the meme -- i mean, the chewy thing with roaring kitty earlier this week, $243 million worth of stock, 6.6%, i think it was. stock went down, though, right? >> yeah. >> i don't know where it is right now. >> it had run up a bit into the actual disclosure. >> on the dog cartoon. >> it's down yet again. there it is. you get a sense for it this week. >> yeah, it's -- it's the classic trading strategy of, you know, you buy the dog cartoon post, and you sell the s.e.c. filing. >> that's a classic strategy. i know. if kolanovic had known that, he might still have a job. >> divergence for novo nordisk on today's session. "usa today" op-ed penned by president biden and senator bernie sanders urging these drug companies to lower prices a and "end their greed" but little lilly start

who is the son of oracle billionaire larry ellison this past week, the deal looks good for redstoneonal amusement which is a controlling share but less good for the public shareholders. jack: the billionaire do you think he has the chops to run any business much less a business in a tough sector? >> it's going to be a tall order sky dance is a tiny fraction the size of paramount and paramount is the devil and other managers in the past into the be interesting to see if he can make this work. investors and wall street is skeptical how well this will work, the paramount public shareholders are getting $15 for half of their stock, the stock is trading 11 and the redstone we don't know what they got but the man got $30 a share for their stock it looks a real disparity there could be lawsuits in delaware where the company is based, that could derail the deal. jack: thank you. let's go to actionable ideas, jacob your calling for pizza. >> domino's is a rare restaurant company doing it right a lot of inflation consumers getting choosy about what they buy, domino's is able to add thousands

representative justin jones, minister -- minnesota attorney general keith ellison and others are said to speak. watch live at eight :00 eastern on c-span two, c-span now, or online at c-span.org. >> c-span's campaign 2024 takes you to milwaukee for our coverage of the republican national convention. tune in live monday as delegates from across the country gathered to select the republican nominee. watch as they lay out their priorities for the next four years in their party's vision for the future. the republican national convention live monday on c-span, c-span now, or online at c-span.org. c-span, your unfiltered vi of the convention. >> c-span is your unfiltered view of government. c-span is your unfiltered view of government. we are funded by these companies and more, includin building 100,000 miles of new infrastructure to reach those who need it most. charter communications supports c-spans a publicervice

as long as he was elected ellison analysis, loyalty was always with links. and that is, i think the most logical explanation for what else was involved with that involving when it kind says is context was not doing that. she didn't want to give up names for it and get him to explain something that one of the things you explain to you to day guys. after the end of the signal. after ellis died, his family attempted to clear his name. prime minister margaret satcher, however, refused at the time to either confirm or deny the accusations against elizabeth pincher had made that caused ellis's daughter and sally to return the metals that her father had been given to the british government. was elis ever formally exonerated? and if not, why not? now, it wasn't in full money's on right. it even those whose daughter and had written to the from is are, you know, i can live with satcher as soon as my site is that you refuse essentially. now, by saying, you know that if she were to make this exceptions, ellis, that she would have to call me on other cases and she wants

as long as it was, it ellison analysis loyalty was always with links. and that is, i think the most wonderful explanation of what else was involved with that involving when it came says this contract with washington that she didn't want to. so they give up names for it and get him to explain something that one of the things you explained to day guys after the in the signal after ellis died, his family attempt to declare his name. prime minister margaret satcher, however, refused at the time to either confirm or deny the accusations against the eldest, that pincher had made that caused ellis's daughter and sally to return the metals that her father had been given to the british government, was elis ever formally exonerated, and if not, why not? now it wasn't in full range already leaving those doors and had written to the, from this or, you know, i came to my dispatcher, so that's my site. is that you refuse? are essentially now by saying, you know, that if she were to make this exceptions, ellis, that she would have to come in on the cases. and she was

felt that goes through most most impressions on we've made a deal that she shouldn't expose test ellison and then i come and bring her down if stuff happens to buy it, because when l e is having fun, she stops bouncing around and giving me some for me the thing i'm closing at 9 here, the closing act was. it's already quarter to 8 an hour to go. i need the rest of it. i'm exhausted. i need to lean on something. otherwise i won't make it, you know. i'll be wiped by the time i'm supposed to play the can you lean on that to you? the gave it up for germany's pages. back to d. j. the put these in mind when you have these magical moments of feel like your and having to pay the a lot voids in itself like an out of body experience. incredible. like being in another world. i'd just love it. i don't think i want to retire quite yet. no, really. the only one i can keep on doing any more game kind of, if i'm not able to walk or stand on my own 2 feet for 5 hours. and then i'll have to pack my bags and say good bye to the crowd. the agriculture in times of climate change, new cultivation concepts, so

looking at boats, one is controversial and bitterly criticized ellison pod that's after the break. a mike look and thanks for watching for me in the rest of the team here. appreciate your company. i'll be back with more news and 45 minutes. the i tried several times i went on 6 times to greece, is probably i has to spend life from 500 to 600 currently more people than ever on the move worldwide in such a progress in life. you know, it's a very difficult journey and one's 3 is verify. everything. audio stuff. find out about some on stores. in so migrant reliable news to migrate. the an elephant in the cross hairs. western conservationists bitterly criticized the elephant hunt in africa. this is not well received. what's want as president msc calls it, white interference, or if anybody to come and tell us how to manage them and the management hunting when it being so successful that the conservation botswana has more elephants than any other countries. it is a conservation success story but often brings dramatic consequences with it the, the, it's gone that way. and this turned aroun

, paramount controlling shareholder from the redstone family, sky dance will merge with paramount ellisonbut he has a lot of challenges how do you reinvigorate cbs, mtv and even streaming paramount has 70 million, netflix 270 million subscribers but "the bottom line" it is an injection of cash when traditional media in decline. david: corning makes class for big-screen tvs, they are surging up over 7%, what is going on. >> any class for artificial intelligence they raise the sales forecast which will be later this month, that is primarily driven by the new optical connectivity products for genitive a.i. david: let's switch to pharma, they are surging today, what is eli lilly have to do with this. >> lily is requiring more 3.2 billion dollars in the values more at $57 a share, that was a 79% premium to wear closed on friday, why do they want more, they're working on a pill for inflammatory bowel disease and treatments for other autoimmune diseases as well as cancer but think oral pill, that is a game changer for a lot of companies. david: while we were talking we may have been saying somet

. >> david ellison will be running this company.verage in major must be cases and the like of mr. ellison who will be taking over as the company's chairman and ceo when the deal that we went through in detail yesterday is completed. perhaps it will be sooner than some think. some believe it will be a year. there's not that much regulatory to get through here. it's not like there are any stations being combined. so the sec role here, there's nothing that would seem to arouse the concern of antitrust regulators. there's a small percentage of ownership, i guess, at least at one point of skydance by ten cent, very much unclear. the point is, it could take shorter than anticipated. maybe it's nine months. but you've got people looking at the back end. once you get through everything, you have a 30% roughly out there of the stock and what's that worth on a multiple basis, using the numbers provided yesterday, you're still talking about a company that's traded at about 7 times enterprise value on 26 adjusted operating income before appreci

felt that larry ellison is going to win this.ney to keep spending and said, you know what? put up more money but the other guy can go more than a nickel, where it is. we'll see. also suggested as becky, when becky asked the question, there will be a lot of litigation around this deal with david and larry ellison, and the skydance company. >> i think the big issue, too, is the skydance valuation. nats something barry takes issue with and a lot of shareholders do, too. they consider it kind of inflated valuation for that and that's put on to the shareholders. barry's words earlier when he talked to us, basically asking shareholders to be diluted fwli. barry i think used the term 40%. i don't know the numbers on that. that's a big part of the question, too. as you mentioned probably a pretty litigious outcome, no matter. >> interesting, thought a steel even at these prices. >> he likes legacy. i think it's just weird that barry diller's talking about paramount again. i mean, how many years -- >> been through it -- before with that.

i think you know when people get to know david ellison, who is the head of skydance who is larry ellison'sjust lucky sperm kid. this kid really did bring this deal home at the end and you know, i'm getting this from multiple, multiple sources. we not only broke that story but we did break that it's jeff shell that will be running the shell. liz: former nbc-universal head. >> he is back. he was working for redbird. now he is back. another guy that deserves another shot. everybody i spoke to he made a mistake with something we don't have to get into. liz: he is very capable as an executive. >> he is nice guy basically. liz: i know him. >> he is a nice guy. he deserves another shot. he will get it. here are two headlines for your viewers that we want to throw out there, number one, jeff zucker works for redbird. he runs a private partnership. it is kind of a joint venture with the abu dhabi sovereign wealth fund. as of now he does not have a operating role. but he might. liz: cbs? you. >> never know. cbs, will it ever be for sale? what i'm told right now, no plans to sell it but they will sca

in general, the hollywood community is a bit relieved to have david ellison in control.e is a known quality, loves movies, has been investing in the industry for years. it is not just a group coming into to cut costs across the board. it feels like it could be a plus in terms of investment into the company. scarlet: there is a lot of talk about how there might be litigation from shareholders who don't like how everything has been structured, how redstone controls all the voting shares, and now someone else will. felix: david allison did sweeten the deal for the other investors, that was part of it. also increased some of the litigation protections for sherry whetstone at the end. that is part of what got this over the finish line in the end. we will see what happens. scarlet: when there are new headlines, we will bring you into update on david thank you so much, felix gillette, covering the entertainment and media world. another deal we are watching, eli lilly buying morphic for $3.2 billion. morphic develops gut-related pills. abigail: eli lilly is up .4%. typically don

, the son of oracle founder larry ellison, that they are bracing for significant shareholder lawsuits't tell you. one potential lawsuit, we should point out, could come from if mario gabelli. i spent some time with him a couple days ago, you know, talking about his options. he didn't mention lawsuits, but what he did say was that he's going to fight for transparency on the deal terms. he's launching something inside his company knowned as operation fish bowl -- known as operation fish bowl where he wants to see exactly how much money shari redstone made on this thing, the de facto other than of a paramount until this deal gets done. she has controlling shares through a holding company. a little complicated, but she basically was the other than. she's getting a good deal, something like $1.7 billion. he wants to know why she's getting so much money and the common share holders are getting very little. we should point out that the skydance, redbird people are saying you're getting a better balance sheet, we've got upside going forward, and gabelli could be convinced of that. at least th

there is a bay area connection here because david ellison runs skydance. he's from the bay area.son of oracle co-founder larry ellison. paramount is a movie studio behind the godfather. it also owns cbs and networks including mtv and nickelodeon. regulators have to review the deal, which could take months. now we're going to take a live look at what's happening at the new york stock exchange as trading gets underway on this monday, you can see that we are up about 224 points. >> target is making an official change to something that most of us stopped doing a long time ago. no shade. if you still do it, but starting on july 15th, you'll no longer be able to write checks to pay at target. the company says the change is being made because of extremely low volumes of check writing in recent years. now, target still does accept several forms of payment, including cash and all major credit and debit cards. >> this morning, abc seven is getting an exclusive first look at this year's bart holiday merchandise. it is christmas in july, people. bart first launched a holiday sweater in 2021,

it was during this time that i 1st met my partner, ellison, i guess angie and i kind of met 3 sort of human rights and social justice circles. ellie was off at a job with an international human rights organization working on policy and advocacy for palestinians. i remember when i 1st got the job in jerusalem and was actually a bit reluctant often my question in 2006 and the maelstrom around. it was the hesitation of not wanting to be. so you can see by this issue because it was personal. but i'm very, very glad that we went and she convinced me because i think it was a transformative period to my father and mother when she was alive, started visiting palestine high whenever we're in the west. same build up by the idea of what's happening to villages, of things destroyed again and again by these riley's. so i've, i've seen it 1st hand and what i've seen is just a pool living within the context of occupation saying it up close in many ways it was incredibly eyeopening. ivers were saving, basically in real time updates on my fine when palestinian hines were being demolished across the we

the big problem is that you have people like larry ellison, who's the co—founder of a massive companyed oracle, having given the tony blair institute hundreds of millions of dollars, he's given 100 million. he's going to give another $200 million. and his big thing is health data, ai. and what was tony blair talking about this week? ai and data and the nhs. so i think it's important to separate the man from this idea of money and politics and people buying influence and pay to play in politics. we can talk about think tanks and we can talk about lobbyists. in british politics, there is nothing. there has never been anything like the tony blair institute when it comes to its scale. >> now, tony blair would say, my institute is a not for profit organisation. aaron. somehow he's making money. i think he's worth about £60 million. at least that's what he will say online. he's certainly the most wealthy former prime minister. should we should we be worried about that sort of conflict of interest? dominique? is there should there be more transparency about how tony blair might profit from s

skydance is run by bay area native david ellison.n. paramount is a movie studio behind the godfather. it also owns cbs and networks including mtv and nickelodeon. regulators have to review that deal, which could take months. john deere is laying off hundreds of employees across the country. the farm equipment company is cutting 600 workers and three factories by the end of august. it says the changes are being made because of reduced demand for the products at those facilities. that decline in demand comes as the number of farms has fallen. apparently there were about 1.9 million farms in the u.s. last year. that's down from just over 2,000,000 in 2017. >> target is making an official change to something most of us stopped doing a while back. starting july 15th, you'll no longer be able to write checks to pay at target. the company says the change is being made because of extremely low volumes of check writing in recent years. now, target will still accept several forms of payment, including cash and all major credit and debit cards.

skydance founder david ellison has said to said as chairman and ceo of many and paramount.ld value the combined company $20 billion and effectively ends the redstone family is decades of rain over cbs and paramount. the merger still needs approval from regulators and is expected to be finalized early next year. "eye on america" is next with a program designed to bring police officers in the people they serve together at where else? the barbershop. ♪ ♪ [cough] flare-ups that could permanently damage my lungs. with breztri, things changed for me. breztri gave me better breathing. starting within 5 minutes, i noticed my lung function improved. it helped improve my symptoms, and breztri was even proven to reduce flare-ups, including those that could send me to the hospital. so now i look forward to more good days. breztri won't replace a rescue inhaler for sudden breathing problems. it is not for asthma. tell your doctor if you have a heart condition or high blood pressure before taking it. don't take breztri more than prescribed. breztri may increase your risk of thrush, pneum

i'm most likely in the kinds of way ellison structures these empty carcasses and stadiums that, that the previous megan that hosts have suffered from. and that is only to the good . so i think we do need to underscore the importance of those reforms and continue that said there are uh costs. for example, when we say temporary infrastructures, that means that those are being used like say for the public part, the phone or some of them uh, in front of the eiffel tower is targeted with a lovely venue for a beach volleyball. but that means that local residents are not able to use their park. so it brings up interesting questions of uh, you know, who the city is for, who the games are floor. so there are, there are still costs under the stuff to go on. i think it's important to remember that even as we celebrate the progress, that's the main. and i want to look at a different kind of cost the, the, you know, the budget in paris. it was for seen as a perfect financial balance. but that goal is long, been abandoned, since is being more environmentally conscious, not financially sustainable.

i'm most likely the kinds of way ellison structures these empty carcasses and stadiums that, that the previous megan that hosts have suffered from. and that is only to the good . so i think we do need it's the only basketball stadium in south through time coach spa, one of the country's national players is that to watch a local game sound sedan currently has the most successful team in africa. it made headlines at the world cup and it's now qualified for the olympics to compete with the best in the world. around play the why they don't play the or the big name play this or why not. i've been south play that because that is something that i just, you know, be proud of supposing sensation and one of africa's poorest countries ranked by years of war, sounds to done only gained its independence from sou, done in 2011. it was only $11000000.00 inhabitants the country's potential to make its name of the world of basketball is still enormous of the height. so people say that 50 percent given 5050 percent or do so now you gotta worry about the facilities, the proper, practical, proper way of

david ellison will become the chairman and ceo of paramount and jeff shout will be the president of paramount the deal is seen closing the first half of next year. it was a unanimous vote to approve the merger with skydance. it will be a vote from a special committee to look at the details of the specific deal on the table. we are looking at a transaction that values skydance at 4.7 billion u.s. dollars. get the other story we are tracking. samsung electronics and the labor action taking place right now. have a number to attach, shares trading flat. slightly bigger strike in terms of the number of people involved? annabelle: the union said it expected 5000 people. in the next -- and the last half-hour we are hearing that more than 6500 people are protesting outside of the companies chipmaking facility. the union organizing the demonstration is the biggest of the company. it is a step up in the demonstrations we have had so far. yet a one-day strike in early june. today it is the start of what could last for three days given the union and its negotiations with the company and the pay broke dow

sources telling cnbc that david ellison's skydance media has now reached a preliminary deal to buy shari redstone's national amusements and merge it with paramount global. the resurrected deal which initially philadelphia apart a few weeks ago would see redstone see a reduced 1.75 billion of dollars and skydance control roughly half of paramount's deal. paramount's special committee revealing and votinging on the new deal. remember, yesterday media reports had barry diller showing interest in the company. private equity pirm apollo and sony had shown interest and julia will join us to talk about this. i don't know what to say. i thought he was gone. i thought they were gone. >> the question what they would come back at. >> is it over now? >> i think you still have a couple of players around and if shari redstone -- as we have said, she will make the decision at the ends of the day, right? full stop. >> it could be in the morning. could be at the beginning of the day she could do it, right? we don't know. >> we don't know. >> could be at noon. >> shares of eli lilly moving higher this mor

>> this came together after sherry redstone walked away with david ellison sky dance media and that -closure agreement have been signed. >> isn't it interesting that barry diller lost out when wanting to get some of these assets previously. there's talk about paramount plus being weaved into another streaming company as well. >> there is something very nostalgic about this i think for him. he did have dutch head paramount pictures so i'm sure, we heard a lot of talk about a joint venture on streaming. it will be interesting to see what he's gravitating towards. it's film and television so what's not to love. ed: i feel it we've been talking about this for a long time. i've lost track of who isn't who is not trying to buy paramount, who are the other players still in the race. >> byron allen has made a bid and been very vocal about that. we also have bain capital but also put in an offer. sony and apollo they've had to rethink their strategy. there's a lot of bids and i've been hearing sun valley next week the conference will be really pivotal on this. >> you poetically yourself said t

chief ellison as attorney general of minnesota.[cheering] formerly served in congress was a deputy chair of the democratic national committee and the clerk we all know he was responsible for convicting. justice jones is a state representative for district 52 in tennessee. not only the second youngest member serving in the senate seat the state house of representatives one has been creating some good trouble since his election in 2022. we'll hear more about as good trouble in a moment. lastly, tim wise senior fellow at the african-american policy form one of the top antiracist writers and educators in this country. please join me and welcoming our wonderful panelists. [cheering] [cheering] [applause] [laughter] welcome, welcome, welcome. thank you, thank you all for coming back and joining us this conversation. i'm going to turn to you first. dti has become it is been used as an maybe it's fair to say it's even been used as a slur. paint a picture how these attacks on dti have gained so much traction. not just among the maga republi

justin jones, minnesota attorney general keith ellison and others are set to speak. from network nation watch it at noon eastern on c-span2, c-span now, our mobile video apps or online, c-span.org. >> welcome into a great national crusade to make america great again because our dream for progress. >> taxes will go up and anyone who says they won't is not telling the truth. >> our beloved nation, we are in the midst of a springtime of hope for america. >> because we are the party that believes in the american dream. >> read my lips, no new taxes. >> i still believe anna place called hope. >> here's the question for the american people. who do you trust in this election? >> the real choice is whether we will bridge to the future or bridge to the past? >> i have unlimited confidence with the future of our country. >> i stand here tonight as my own man and i want you to know me for who i truly am. >> they had their chance. they have not led. we will. >> i am john kerry, and i am reporting for duty. >> four years, a moment we could not foresee and cannot forget. >> it is

sources tell cnbc david ellison skydance media rah reached a preliminary deal to buy national amusement and merge it with paramount global. i know you've heard the story before but the deal fell apart just a few weeks ago would see red stone received a reduced 1.75 billion dollars for national amuchsements and skydae with controlling shares 4.4 billion. apple reportedlywill get an observer role on opening ai brr. according to bloomberg, phil schiller will eye assume that role later this year hurricane beryl has now been downgraded to a category 4 storm as it makes its way to jamaica and possibly heads northwest as a category 5 hurricane. the earliest storm to reach that classification, beryl has claimed six people in the southeast caribbean and beryl is expected to weaken to a tropical storm before making landfall in mexico and southern texas over the next few days. incredible that a storm is so powerful so early in the season, frank. >> kind of concerned to see such an early and strong start to the hurricane season. we are talk about later in the show. thank you, bertha coombs. >>> inv

s skydance is run by david ellison and will merge with paramount and paying $4.5 billion in cash or stocko investors and paying $1.5 billion. paramount now has a 45-day window to find a buyer. the deal ends a four decade run of the redstone stfamily. that deal has to be finalized. we will continue to watch the developments as they develop. >>> turning to the gulf of mexico and the developing story as beryl makes status as a category 1 hurricane. it is expected to hit category 2 status over the next few hours as it tracks north. we are watching oil as drillers remain closed in advance of the storm. looking at the lows of the morning. let's send it over to jay gray live in port lavacca, texas. one hour from the eye of the storm. jay, good morning. >> reporter: good morning, frank. this storm has made landfall within the last 15 to 20 minutes here. you are looking at lava an ca bay behind me. we are seeing the winds picking up and spitting rain right now. the surf has been strong as well here. we are going to continue to see that over the next several hours as it storm pushes inland. we see

that takes me to oracle's stock price, because larry ellison's likely to be a lot of that money. >> sure hits $400 billion in market value, he owns 41.69%. at least that's the latest numbers i see, mike. >> yeah. >> and so, it will be interesting when we sort of all is said and done and that transaction does get put into contract, larry ellison may end up being by far not just the control shareholder, so to speak, because of his ownership, but very significant capital contributor to the deal. >> you wonder what it means for the economics of the business. if he chose to, he could fund a lot of losses. he could actually backstop that company to a fair degree to a level that, you know, wbd doesn't really seem like it could keep up with. >> that is true. >> who knows if that's part of the plan. >> $14 billion in debt. we need to remind people. a tiny little market cap of some $7.7 billion. people try to weigh, listen, when this thing closes, half your equity, you're going to be able to get a nice premium. >> and you bring up the capital markets, and we've seen some interesting deals this mor

sky dance will merge with paramount making ellison with a host of problems, boosting profitability andramount in the premarket, up 3%. boeing agreeing to plead guilty to to a criminal fraud charge relating to two 737 max crashes that killed 346 people back in 2018 and 2019. boeing facing an additional $244 million fine and possible conviction for criminal fraud. the plea deal also requires boeing do spend 455 million over three years to the improve compliance and safety programs with hired oversight, a monitor. family members of the crash victims filed a formal objection of, asking the court to reject the plea deal. a lawyer for some of the victims families saying, quote, this sweetheart deal fails to recognize that because of boeing's conspiracy 346 people died, through crafty lawyering between boeing and department of justice, the deadly consequences of boeing's crime are being hidden. look at this, boeing stock in the premarket are up just shy of 1%, 186, 55 a share and that's because while they might get the name felon attached to them they avoid the long, drawn out courtroom drama