is the model for espn a better model than the current espn business model, and if not, why not just say, hey, we don't need -- like it's a totally different line of business economically does it make sense for them to own it >> yeah, and i think it would be interesting to have barton weigh in on that, you know, for the depth of their business model, but presumably they are in it to make money, lfrt, and i think what's been proven so far by the others, draftkings and fanduel in particular, is that it's possible to make money and i think that that was a discussion point earlier on in the evolution of this business in the u.s. was anyone ever going to turn a profit at this moment what we're seeing is companies are turning a profit my presumption is that espn is in it to make money. >> yeah. >> barton, very quick final question here, does this deal make it more likely that eventually disney spins off espn >> it could. it could you could see deeper integration with better. i don't think iger is there today, but this kind of lays a path to go there if he changes his mind it just occurred to m

we're talking about traditional espn, tyler. right now espn+.ly content you don't find on sell vision. >> correct. >> right now get that core espn channel you need to subscribe to some sort of tv bundle. what espn and disney have talked about is creating a vegs of espn that would go direct to consumer. likelialities keep something on linear tv with the same rights but need to renegotiate everything with the leagues to make sure they have the right to bring that simultaneously direct to consumers. this is obviously a complex thing. have to worry about relationships with the cable distributors et cetera. but what espn and disney and bob iger acknowledged in light of cord cutting they have to figure out how to efficiently and at the right price point figure thousand bring that direct to consumers as well, and if they have a big partner, amazon makes sense considering its reach and viewership stats, also remember, would make sense for them also, perhaps, to bring in the leagues as partners. far from a done deal makes sense disney is talking to every

you're going to have this espn app. to relabel the sportsbook that are now barstool's sportsbooks in the casinos? >> there will be a process we have a period of transition services that dave and barstool and erica and dan and team can utilize as we transition that business back to them, and vice versa, we'll still utilize the barstool sportsbook brand during this period of time as we work to transition both the online products, the espn bet in november and the land-based retail sportsbooks, we have to go through a process understandably, espn is a huge branding company they want to visit the casinos and different markets and geographies and determine at espn that retail sportsbook makes sense in one or all of the casinos we currently have barstool sportsbooks >> i have to tell you, i was watching the interview it was fantastic. >> thank you >> fanduel is a power, okay. i know jason robins, draftkings, i worked for them. a power. these people are really big, and they've got great market share how, even with disney can yo

the new service will be call espn bet and it will be espn's excluf uf marking.llion in grash and $50000 million in rur designate a non-boarding board observer. this didn't just about the cash stock outside, it's almost about the grt to bet on game that your frshl he took a stake in the espn as it navigates cord cutting. we have reported those deals in talk and it will be the nhl to poe lengsly make an investment we'll have that easternings el rng. >> well, to are disney of course, it namely an organizing con traction, cord cutting, so we give you any updates on the cost custing while some of the other temperatures pg decline in recent quarters, investors are expecting disney's streaming costs to increase this quarter by about $100 million compared to last year after the company's gays and are that. >> julia thank you >> coming up, a new move from x formerly phone as twiner for it frm ache more look the prrp amidanalyst estimates. looking for eyes on that plus, the proom poem and tomorrow in the 8 a.m. hour about all of this. we're coming right back. ( ♪♪ ) feel

called espn bet.enn's sports betting site will rebrand with the espn name this fall, and the entire holding of barstool goes back to the founder and president, dave portnoy. the entire stake that penn had bought. this after penn if completed its $551 million acquisition of the entertainment company on february 17th of this year. disney ceo bob iger raising the stakes for espn ahead of the company's third quarter profit just minutes away. how much value is this kind of partnership really going to add to the sports network which is experiencing a subscriber decline? jmp securities analyst jordan bender has a market perform on penn. met me just start with this, jordan, who got the better end of the deal here? >> well, you know, this is an industry-changing deal on, you know, for both sides of it. on the penn side of it, you know, they divested barstool. that wasn't a business that was working for them. it's a pretty well known fact that for some time that, you know, this wasn't a almost arrangement. on t

even espn programming that goes along with the app itself.r picture, it means that espn is looking for a new revenue stream it needs cash. it's the same reason that espn is thinking about bringing in a strategic partner, which is another story that, you know, i and others have been reporting on for the past several weeks. that stems back from bob iger, ceo bob iger's comments to david on the air a few weeks ago saying he was interesting in finding a new partner. >> clearly a lot of story lines to follow here the earnings numbers really quickly, profit to fall by 5% but a lot to talk about beyond just the numbers in this report. so, you listed off a few thing what's the other big story line to watch in this earnings report and especially the call where we'll hear from bob iger >> look, this is not a great time for disney. you go segment by segment, linear advertising, not great, subscribers to linear tv, not good acceleration of cord cutting you go to the movie studio it's been kind of bomb after bomb for disney. elemental, haunted mansion, in

espn gets seamless soup to nuts.ight now, it's been espn to draftkings one of the reasons why espn -- why disney has a stake with draftkings but now, you're going to stay right on their site. >> you mentioned vision pro and disney's long-standing relationship with apple. remember the mickey mouse face was one of the original watch fashions the headline of the "hollywood reporter" this morning, kim masters, disney's sale to apple, don't count it out this time as we're once again back to laura martin's dream >> oh, yeah, i talked to lina khan yesterday she thinks it's a great idea the ftc would block disney merging with illinois toolworks. >> yeah. i just -- you know, this won't go away for any number of reasons. but you really imagine apple wanting to be in the theme parks business >> no. but i imagine apple wanting -- >> there are so many other avenues for them that i could imagine them going down before i would see them making -- by the way, would become, even though -- it still would be a small part of the overall,

he argues penn espn could be good news for draftkings because it means they can get out of that espnbank describes that deal as a quote absolute anchor they don't need to spend so much money acquiring new customers. they have other ways to do it that are better and cheaper. the whole penn barstool espn episode makes me want to take a step back and look at the sports gambling industry as a whole and when you think about how things are playing out it's clear there are very few major winners in the space actually, there's really too fanduel, which is owned by flutter entertainment plc, whose shares are listed verseas, and draftkings that's it. duopoly. when you look at the market share data fanduel's in a strong first place, okay? in most mature markets draftkings in solid second place. nobody else coming near. it would be great. i like penn. maybe penn can go up in the ladder but draftkings is very far ahead. now, penn does seem confident that their new espn partnership will help then grow market share. maybe it will. but draftkings already has tremendous market share. they don't have

this does raise the question of what he will do with espn.otential minority investors we reported that disney and bob iger talked to all the major sports teams, nba, nhl, nfl, mlb, and the question is whether they can get them come in and benefit to bringing espn both direct to consumer, as well as espn have a linear platform on linear tv. i think there's a lot that still has to be figured out about espn, but i think he's looking for more opportunities to monetize the assets that they already have >> i also think it's interesting that investors don't like their hulu plans i don't know if you have a backtrack on that. >> it seems like they're on the path of buying out the remaining stake in hulu that disney doesn't own, that is currently owned by comcast, cnbc's parent company. unclear how much they will have to pay to buy out the remaining stake in hulu. and this is all to make sure disney to say you're getting so much content, you can't just cancel it when your favorite show is over for now so it's about generating that ongoing value and see

this new service is called espn bet and set to launch this fall in the six states that espn is legal.be espn's exclusive betting platform and penn is paying espn $2 billion in cash and stock in exchange for those exclusive rights to espn bet for ten years. espn does hope this deal will drive greater engagement and the brand licensing will drop right toast pn's bottom line all of this follows disney ceo bob iger saying he's looking for minority partners to take a stake in espn. they're talking to the nba, and nfl. their sure to be in focus this afternoon in disney's earnings report, wells cost wuting disney's revenue is expected to grow 4.6% while earnings per share are expected to decline from widening losses in the customer business. >> boa wonders whether or not this drou lowers the possibility of taking a partner stake in espn are these dispositive of one another? >> i don't think so necessarily. i think that they see a real opportunity here to simply monetize opportunity around sports betting every time a new states thorzs sports betting, it expands the potential, and they want to

sage steele was a star anchor at espn.who has become openly progressive in the last five or 10 years. sex changes for kindergartners is fine for disney. but a man hesitant to get a vaccine, that was too constitutional those controversial. sage steele spoke out. >> what is the mandate for. >> well, i got my shot today. i did not want to do it. but i work for a company that mandates it and i have until september 30th to get it done or i'm out. i respect everyone's decision. i really do. but to mandate it is sick. >> jesse: sage was already on thin ice at espn because of the issue of race and the obamas. barack says he is black. sage, who is -- who also has a black father and eat what does white mother said no, he is biracial and that angered barbara walters who was a legend at abc, also owned by disney. >> if they make you choose a race, -- well, you can. barack obama chose black and he is biracial. i'm like, and congratulations to the president. that is his thing. i think that is fascinating considering his -- black that wa

about ten days ago i broke the store that espn has been in talks with the major leagues as potentialves would take stakes you can add the nhl to that, too, i found out even informally, in recent years, there's been advice about what to do with spend. i'm told a whole spin of espn isn't off the table if they can't find a good minority partnership, but they are focused on what bob iger wants here, which is to keep a majority cross of espn, and then find majority stakehow olders, whether or not it's the leagues or someone else. >> clearly all of the questions around such an arrangement have been raised. other networks are also in there as well, so presumably some kind of participation -- has anything happened since then that makes that scenario seem more or less likely to you? >> well i can't comment on it from the leagues' perspective. i talk about it in the story on cnbc.com there's still a lot of reasons why they wouldn't go down this path you risk bidding rights here if you stake a stake in espn, you can give them preferential treatment. what i do think has maybe changed a little bi

. >>> espn is getting into the gambling game. the sports media brand signed a $2 billion licensing deal with gambling company penn entertainment to rebrand penn's current sportsbook under the name espn bet. >>> and mourners gathered tuesday as the funeral for singer sinÉad o'connor was held in her hometown of bray, ireland. o'connor died last month at the age of 56. >>> for more, download the cbs news app on your cell phone or connected tv. i'm shanelle kaul, cbs news, new york. >>> it's wednesday, august 9th, 2023. this is the "cbs morning news." breaking overnight, voters in ohio reject a measure in a special election in what's seen as a victory for abortion rights. we'll get reaction. >>> alabama arrest. three men charged in that wild riverfront brawl as authorities search for more suspects. >>> and check your mega millions lottery ticket. there's a single winning ticket for that $1.5 billion jackpot. we'll tell you where it was sold. >>> good morning, and good to be with you. i'm anne-marie green. we begin with the results of

he has to work on getting espn to new partners.invest in espn and potentially getting that off to the books. he needs to figure out what to do with cable networks. maybe he needs to sell though -- those and he has to work with content -- comcast to buy out the hulu 33% stake that is coming next year and has to worry about ron desantis in florida. jon: a ton of moving parts. paul sweeney joins us to discuss. he covered the media for decades on wall street and now does it for us here in bloomberg. so much on bob iger's plate. where do you start? what do you care about him saying? paul: there's so much to do and i think he has to deal with a couple things and one of them it is -- one of them is espn. because of court cutting, -- they have to make a critical decision and what to do with espn? did you make it as streaming service and go over the top and if you do, how much will that cost you or do you find another owner for espn? that was once unthinkable and now it is front and center because when you say that and michael said it as we

espn that's is now what it is called. a deal that they will pay over the next 10 years and that deal could be extended for a further 10 years and that hopefully will bring more money to disney. they are not trying to pay more money. the hulu investment will cost them sick difficultly. getting into espn and making sure it becomes more profitable from here, it will be critical for the business. >> thank you for the break down. so much to look out for. >>> was turn to european markets, we are seeing a better day than yesterday. they are trading nicely in the green. in the first couple of hours, you will just get a picture in the big focus is the italian index. a rebound after yesterday after the italian government decided to backtrack on the conditions regarding the bank tax. that is positive news for the italian banking stocks. we still have not recuperated the losses we saw yesterday. they ended 8-9% lower and even though we are up today we have not fully compensated for the loss. over all a lot more positive in the europe

that espn is spun off from disney? >> i think -- i think it's consistent with the possibility that it can be a separate entity i don't know that it is decisively going in that direction or not but the idea that espn is looking for other sources of revenue i mean, clearly everything -- >> everything goes down and the -- the cable fees go down, you've got to find a place for the revenue. gaming is an obvious example. >> exactly. >> people clearly are willing to pay for -- >> i think it's more in the matter of -- everything disney is talking about doing, partners with the sleeping to bring some cash in, reduce the capital burden on disney which, of course, is going to she will have to shell out for sports rights and maybe have that business model get a little bit right-sized for what it could be in the future. penn stock, by the way, punished, you know, on the news so it tells you which way the economics of it ran and that's another factor and are ceos going to want to do a deal look at how the stock reacted? >> yeah, the

they've within trying to monetize espn they were selling chicken fingers in times zone, people want espn for the games the games get more expensive i think it will be an upside catalyst when they do a deal with a larger tech media company whatever we're calling them, but if they don't it's going to be a tough stock to be in i think there's an opportunity, not yet. >> let's get to the headlines news wise. good afternoon. >> hey, dom. hawaii officials are fearing the worst as the sun comes up. they say the death toll from the wildfires raging on the island will likely grow from 36 emergency management officials told abc news search and rescue teams are fanning out in hopes of finding survivors they said there are three active fires burning today and they're only just now gaining ground on containing them. >>> presidential candidate in ecuador was assassinated following a rally in the capital. days before voters go to the polls. police say fernando villavicencio who was outspoken against corruption was killed and nine others were shot elizabeth warren according to authorities one suspect di

ed: the espn/chris: deal --the espn/penn deal, i wonder how much bob iger's fingerprints are on it specificallyhim restructure disney's businesses? chris: that is one thing people will look at. they did a lot of cost-cutting this year. 7000 jobs, 5 billion plus in savings they were looking for. we may get an update on that. this is a bob iger deal. the history of the sports betting thing, betting is something that disney historically shunned. they did not license the marvel superheroes to slot machines. did not allow them on the cruise ships. this was turned around a few years ago under the previous ceo who said we can use the espn brand in sports betting but never got a deal done. there were talks. this is one that bob iger closed , probably at the last minute because the sports betting market is already consolidated around a few players. ed: it will be a busy afternoon. the stock softer half a percentage point in the session, but it's basically flat year to date, underperforming the s&p 500. do the earnings change that going forward? that does it for this edition of bloomberg technology. reca

but maybe not him understanding who espn's audience is.nd sports media, they think everybody watching espn or sports media is woke and activist and something sage steele might say about covid or politics or former president barack obama, that it's so offensive to the viewers they are not going to watch anymore and espn will suffer for it. i would disagree. i would say your audience is probably more moderate, maybe even some conservatives watch espn. it's a lack of understanding who the audience is. also say sports and sports media have a real problem, they don't apply their political activism evenly. if you want your athletes and commentators to be activist, let them be activists on all sides of the aisle. >> sandra: it's a great point, she said all she ever wanted was consistency, but the espn anchors have discussed a lot of big political issues with no blowback, including voting laws, religious freedoms, human rights, january 6th, abortion access. they have gone into a lot of different areas and no repercussions so one has to ask why and

this penn gaming/espn deal, late to the dance, but everybody is talking about it today does this even move the needle at this point? >> look, it's a contribution, all contributions, when you need cash and an answer to a declining linear business are a good thing but just to put this $150 million a year in licensing fees on the gambling side i is worth $150 per year so, this makes up for the loss of about a million subs. now, espn over the next te years is going to lose 10, 15, 20 million subs, just to put in context how much of a contribution toward filling that hole in the bucket it is more importantly, look, we've seen media brands try to drive sports gambling business fubo failed at it, bally's, with the regional sports networks could not make a difference there, as they go into bankruptcy, obviously barstool with penn didn't help. and fox, a great sports brand, just discontinued fox bet. so, there's a lot here that you can be skeptical about, as to whether espn paired with penn, which only has about 2% of the gambling market against the combined fan duel/draft kings, 75% of the ma

first, why disney is talking with amazon over a future espn streaming service.rhtacwi tt l ig bk thha story and much more. my cpa told me i wouldn't qualify for the erc tax refund, so i called innovation refunds. their team of independent tax attorneys will work with your cpa to determine if your company is eligible. [whip sound] take the first step to see if your small business qualifies. my cpa told me i wouldn't qualify for the erc tax refund, so i called innovation refunds. their team of independent tax attorneys will work with your cpa to determine if your company is eligible. [whip sound] take the first step to see if your small business qualifies. >>> welcome back to "worldwide exchange." time for the wex wrap-up. former president trump taking to twitter posting his first message hours after he surrendered to the atlanta jail yesterday. trump posted his mug shot with the words never surrender. >>> shares of disney set to open at the lowest level in years with bob iger's turn around plan seems to gain more traction. shares up .50% in the pre-market. >>> di

what amazon meets espn.ver else, why do they need to? >> that's a fair objection. what they need is a brand. there's only one espn, before they had very good rights. yes, you can make the case we can build it ourselves. we don't need to buy something else. they themselves, whether they like it or not, they're in a race. there are going to be fewer streamers and options in the future for the right price and the right value, you can get a point of difference with your competitor and accelerate your growth. in the nfl there are 200 million loyal fans, college football is 180 loyal fans. i want to own those consumers. espn is a way to do that with consumers. >> it's the best. i guess a couple years ago i don't think i had seen an mlb game in a while except for reds. when is the last time they won a playoff game. now people in my house, they just say oh my god, baseball again. and if you watch it, they play the same music every time they go to the break and people in my house are ready to kill me because there's

with pain entertainment to create espn.l look at the odds for stock investors to profit. tesla cfo is leaving, the cyber truck is coming. what both of those mean for shareholders. on the "barron's roundtable". my colleagues ben levisohn, carleton english. parents mvp andrew berry. tech stocks got hit this week. is that profit taking orders or something more going on. >> that was probably profit taking, there's a little bit concerned of chip companies. there is a chip company that the demand was not what it should be. this is a question of a lot this year end people are taking profit. jack: how much were selling do you think there could be think of nvidia at one point they tripled their money this year. if you look now much more than double their money. they must be frantic, how much were selling would you expect. >> probably not a ton. this is august and august had a quiet time in a volatile time in the stock market and there is not much out there right now to try selling one way or the other. the big thing to watch what is

i would be surprised if disney espn are not talking to all the potential platform partners here that. one thing is for sure, jon, live sports are valuable. they found success with this apple is going to be watching very closely to see if the people who sign up for lionel messi end up sticking around to watch their other shows and whether they become longterm subscribers to the platform or whether this is more of a short-term blip. that's the key thing that may influence how much more they want to invest in sports >> mark, apple has a lot of money, but they don't necessarily like to spend it are they going to force others to spend the money in this situation? >> i don't know if they will, but i think there's maybe a broad mega point that you have more bidders now for live sports the live sports ticket, i think, and i'm not an expert in it, but with three bigger -- bidders, that is three companies with massive cash piles and highly profitable businesses, google, amazon, and now apple, you know, it's got to be great for the people who have the sports rights and i think those tickets wil

penn will pay espn $1.5 billion in cash over ten years and grant espn $500 million in rights to buy shares of penn. >>> celebratory toasts could taste different thanks to climate change. a new report says the champagne region of france could deal with a lot more droughts over the next 30 years, and that change may alter the flavor of the grapes. experts say when the fruit is exposed to extreme uv rays, it gets sunburned and damages the flavor. a champagne trade association says it remains confident its business will prevail despite weather patterns. >>> up next, the show goes onon. both pink and beyonce giving fans a show and a night to remember despite the severe rain and lightning during their tour stops. every bubusiness deserves a a great deaeal. that's whyhy comcast b busins is lauaunching thehe mobile m made free e event. with ourur businesss ininternet, nenew and exisisg cucustomers cacan geget one yearar of unlimimd momobile for f free. it's our b best internrnet. powered byby the nextt geneneration 10g0g network ad wiwith 99.9% r reliabilityt. plus one l line of freree momobile fo

brian: hi everyone welcome to "one nation" i am brian kilmeade big show tonight include why she left espnhy she feels better than ever about the trajectory of her career, great courage there. greg hardened may be america's best life ghostly's tom brady think so. at greg gutfeld i don't who booked him i'l all try to make t work. first some serious stuff. it is been a week of major events. the republican presidential debate is there, for the indictment against a former president, famous faces popping up on mugshots including our 45th president you'll see it forever but it's easy to forget a significant story that may affect who actually is the leader of the free world. that is the biden family business, slowly but surely the truth is being revealed. the lies exposed they never thought was possible. case in point the name victor shokin. he was once investing for the general prosecutor of the crime that he was deputy before being elevated to the prosecutor general distancing sound familiar? shokin inherited the burisma investigatbrisbaneinvestigationn vice president bragg about firing him. re

julia, thank you julia boorstin those espn assets looking really valuable, tim.ell, it's amazing how espn was seen as a catalyst possibly to disney stock, if it was a spin-off or what not it's amazing what's going on with mls and you think things are great for messi, how about david beckham and the move he made to move and take a leading ownership stake in this franchise, before people knew soccer was a sport in this country. i'm joking, but it's extraordinary. you have to give him a lot of credit for the influence he's made on the sport. >> looking at me about soccer? >> you always have things to say about soccer >> he says people -- in the '70s, when i was a young lad -- >> pele? >> cosmos, you couldn't get in the meadowlands. i can rattle off names with the best of them carlos alberto on the back line. >> sorry, mel. >> so -- sorry, that's my bad. i would say that if you think about what apple had to do to get access to this, and what it means for apple plus, and you think about the title they have, the shows, the movies, a lot of folks have just made the poin

and then, of course, there's the future of espn >> getting into betting was something, you know, thatimage and was thought of something that they would never really entertain does that underscore the notion that bob iger is really considering all options at this point? that that is what he has to do >> i think yes and yes, it underscores he's considering all options, but we have to look at the fact that sports betting is increasingly becoming legalized in so many states so, the more it's legalized across the country, the more it simply makes sense for disney to engage in this, as part of its business think the reality is, as it becomes legal, there is going to be betting on sports, people are watching on espn, and espn is saying, if it's going to happen, let's be part of it. >> youjulia, thank you of course, the other part of the story is penn, which is seeing a big surge in the afterhours session on the news of this alliance also divesting barstool sports, selling it back to the founder what do you make of this whole thing? >> well, it definitely underscoring and emphasizes disney's

them license espn brand. we'll see if we get commentary on that in the disney earnings. the entertainment segment is little changed slightly. the parks are growing but there has been waning attendance. what will that show us about the consumer? you can get a roundup of these and all the stories you need to know to get your day going in today's edition of daybreak. thank you to everyone who joined our morning roundtable. coming up, we will get back to the markets and back to the treasury auction. $38 billion of 10 year yields to absorb what will be the impact. more on that next. this is bloomberg. ♪ >> inflation does remain too high, there is still a plausible story out there that inflation normalizes in short order and economy dodges additional pain. there is a lot of talk about the potential for what is often called a soft landing. certainly, last month's inflation rate was a good one and i hope it is a sign because to be sure, the fed's objective is not to cause a recession. it is to reduce inflation in lin

i want to ask about the espn of it all. the report that espn talking to amazon. some of the big leagues as well. what do you think of the partnership with them and what does it mean for the speculation about the potential big deal one day with apple? >> i think they are going through the process of floating. we are reading about verizon and now amazon. these are the people you expect to discuss the process. the deal as outlined in the information is interesting. i don't think that is make or break for the stock. i think that price point for espn, you know -- >> that price point is $20 to $35 a month. do you think the averages opinion viewer will pay that? >> i don't think you will get the average viewer. you will get some viewers. i don't know it is enough to change the circumstance. you know, we'll see. i'm not sure that is the end story here. >> okay. barton, they're playing us out. have a good weekend. >> you, too. >> joe. >>> thanks, . coming up, the countdown to the jackson hole fed jay powell's speech. we will talk to author judy shelton next over what she

it marks espn's entry into this billion dollar industry. it's going to rebrand as espn bet.ft. just a few years ago disney's ceo bob iger said he did not foresee disney getting into sports betting, because it interfered with the family-friendly reputation, but espn is pivoting now. >>> what is the state of the sport betting in america? >> we've seen a rush of states legalize it. it's now legal in 38 states across the country, you turn on a game, you're flooded with advertisements for sports betting apps, but advocates are really concerned that this are you usual is going to lead to a rise in addictive gambling behavior. also, these some of an unregulated industry here, so a lot of question marks. >> it makes sense why they would be concerned. nath nathaniel, thank you. >> governor of hawaii is fearing the worst, after wildfires have devastated parts of maui. some residents have jumped into the ocean to escape the flames. we'll have some of their stories just ahead. -wait, wait, hold on... that neighbor is hot! that's my husband... what? it's the inspire implant he got. he's

in cash paid espn. penn entertainment also announced it sold barstool sports back to its founder, dave portnoy, who founded the company in 2003. in today's tech, smart, rich demuro shows off some of the gadgets he tested on a recent trip including noise canceling earbuds, a handheld gaming system and an international charter. check it out. when you're traveling. the goal is usually to pack light, having the right gadgets can make all the difference. >> here are a few i've been testing lately. when you're traveling, less is more. these gadgets won't add much weight to your bag, but they pack a lot of useful features. >> first up, the sony ear buds wf 1000 xm 5. thanks to ai. they have excellent noise, cancellation, and audio quality and battery life is incredible. one of the coolest features is multi point audio. you can have these here, but it's connected to 2 bluetooth devices at the same time. which means if you're watching video on your computer and a call comes in on your or outright your ear buds g

espn isn't a sports network anymore.ht be really cool because apple desperately wants worldwide television rights. they're moving into sports. think of what they can do with the vision pro. if they create a virtual courtside seat or virtual pitch match for world cup soccer. that would be so cool, a huge mover for apple and i would love to see the disney could suddenly not be in the streaming race but back to what they do best, visual branding. charles: google, doubleclick, we got facebook with google on there four times, these monster deals, i remember these monster deals used to send the market so much higher. do you think we can get some of these deals any of them in the pipeline? >> i think we can, charles. the game has changed with high speed traders. moving the needle will not happen anymore but overtime. you have to think about them differently. it is not instant gratification, plant your seeds, watch them agree, because they will grow big. charles: these used to be fun, come on monday you would be up 100%. talk to

espn partnering with penn national gaming on a $2 billion deal to create espn bets, previously a partnerartnership by selling 100% of the company back to the founder. penn is licensed to run sports book in 16 states as of now. espn bet is going to launch this fall. >>> to baseball, american league leading orioles hosting the astros. bases loaded for kyle tucker. he gets a hofldld of the 100-mile-per-hour fast ball for a grand slam to take the lead. fans going crazy. little fans having a moment they will never forget there in baltimore. astros won that one 7-6. >>> finally, "hard knocks" debuted on hbo last night. aaron rodgers stole the show. he said that he was excited about meeting the iconic documentary's narrater. so he was almost star struck when he arrived at training camp in a helicopter. rodgers introduced himself right away and tried to get everyone else do the same thing. >> full disclosure, i wanted to drive but the producers thought a helicopter might be more dramatic. should have ironed my shirt. >> where's the gun? where's the gun? you want to say hi? go say hi. you're talk

they will launch the espn brand in the u.s.tor selling the brand backed by the founder dave portnoy. portnoy get it back after selling it for more than 550 million u.s. dollars back in 2020. he's just absolutely crushing it here. there is a risk of some kind of monetization down the road that they are going to get a lot of money out of that deal, but it's amazing how the story has developed, effectively, essentially, the walt disney company doesn't like the brand barstool, doesn't want to be associated with it. once again wind of that, you've got them over a barrel. lisa: you think i will just walk away. jonathan: they want to seal the deal with espn and disney. lisa: now it's going to be dave portnoy unleashed. jonathan: good for him, what a turnaround. selling that for $550 million a few years ago and getting it back for free. tom: what it reminds me of is how i feel about gaming betting and that microsoft, activision, it is a world i don't know. so the cash flows are just frightening. going to move on to bonds. we do that wi

. >>> espn is getting into the gambling game.ed a $2 billion licensing deal with gambling company penn entertainment to rebrand penn's current sports buk under the name espn bet. >>> and mourners gathered tuesday as the funeral for singer sinÉad o'connor was held in her hometown of brea, ireland. o'connor died last month at the age of 56. >>> for more, download the cbs news app on your cell phone or connected tv. i'm shanelle kaul, cbs news, new york. >> announcer: this is the "cbs overnight news." >>> good evening, everyone. thank you for joining us. i'm major garrett in for norah. we begin tonight with new details on that violent riverfront dock brawl in montgomery, alabama, that went viral and therefore has drawn nationwide attention. police say arrest warrants have been issued for three individuals on assault charges. this after a simple disagreement turned into a massive fight involving more than a dozen people. videos of this incident blew up on social media after a black boat captain was assaulted by a group of white men.

we are back with the penn, espn, barstool story after this. tens of thousands of customers wrote about carvana being easy in their five star reviews, including eric. the whole process was really simple and easy, and this is my third time selling to carvana. so i can practically do it from memory now. you just enter your license plate or your vin, answer a few questions. boom, you get a real offer. true story. it's still shocking how easy it was to sell my car to carvana. sell your car to carvana today. >>> welcome back to "worldwide exchange." time for the morning call sheet. truist downgrading penn entertai entertainment. the stock could be big following the espn deal, but it is a show-me story and recommends waiting before adding to positions. and oppenheimer is naming fresh pet a top pick in raising target price to $100 a share. it is increasingly confident in ability to deliver on top and bottom line target numbers the firm adds the view's high short interest in the stock and investor skepticism as positives. a number of upgrades for wedbu

>> the most profitable part of disney's business is a melting ice cube espn will not be worth more inr in five years than it is today, and today it is worth much less than it was just two or three years ago now this is a business that's going to have to compete with apple, amazon, netflix, companies with unlimited resources and very lenient shareholders for the sports rights nothing else they put on espn matters or moves the needle. the only thing people are paying for is to watch sports now we're in a world where it's no longer an automatic $10 being transferred every month from the cable systems to disney. now it's going to have to stand on its own and they're going to need actual sports fans to pony up that money in a direct-to-consumer product if they can't do that, they will never see the profitability they saw for 20 years running it's a very tough situation. it's nobody's fault. it's technical disruption, it's consumer preferences why would you want to fight against that the other parts of disney are fine they'll figure out the content the movies are terrible. i've been saying

they need to do something with espn. espn has been a laggard for the company.a: i'm surprised, t now its a gem of a business for so many years but now it's a laggard. >> it's not like it used to be, where we watched sports center, it was interesting. dave portnoy gets the company basically for free and i think the best quote he said, that's the pirate ship. i think the brand wasn't the best for penn. having espn which is a more reputable brand is good for the digital betting organization. maria: earnings so far, second quarter? >> better than feared. aadam and i warned you the pessimists on wall street would not look good. they beat by 7% for the quarter. that's off of adam's notes. i have said it a lot. i think we're in the trough here with earnings. they're going to get better throughout the rest of the year, into next year and i think that's what everyone is starting to come to turn around to say okay, wait a second here, this economy's not that bad and a earnings are going to go up. that's why markets are going higher. maria: going into the earnings season

espn bet.portsbook and they're going to launch this fall as part of that deal pin games. the exclusive right? the espn bet. trademark for 10 years in exchange for 1.5 billion dollars in cash. payton espn up in entertainment also announced that barstool sports back to its founder, dave pot toy. we found the company in 2003. we have a lot to get to where you know. yeah. coming up on the kron 4 morning news in the next hour. a new warning for travelers as scammers are trying to take advantage canceled or delayed flights canceled or delayed flights explain. floor and decor, my go-to to get it all. tile, wood, stone and laminate — they've got it. installation materials — yup. and all the tools i need — they've got those too. more importantly, they've got my back with benefits and services i actually want and a pro app that makes my job easier. floor and decor just...gets it. and that means i get more done. at floor and decor, whether you're looking for everyday low pricing on in-stock job-lot quanti

they don't break out espn's numbers separately but it is assume the espn does around four to five billions a pretty big boost. charles: so speaking of not doing well, disney has really not done well for a long time. they're going to report after the close. earnings estimates are down significantly in the last three months. the execution has been inconsistent at best. what are you expecting to hear after the? >> i think they have been down so long it might look like up. this quarter is prices in. that it is going to be bad. the expectations are low. everything from park attendance which ask usually a very big bright spot in the summer all the way through to some of the problems around their media business, their streaming business. everything east bad, when everybody knows that everything's bad you know they don't tend to expect much from you. i don't know if it is going to be as terrible as people think. charles: yeah. i mean, again the bar has been lowered. they may get the amazon effect. amazon after a four horrendous quarters finally popped on a earnings report. we live in the world of

it is a big deal. >> also, according to espn or petition, is asking the court to end that conservatorshipnd also issue an injunction barring them from using his name and likeness in the future. this is a family, so some family family drama for sure. >> we'll see how it plays out. >> lionel, thank you. the mix is next. >> if you're on supplemental oxygen heavy and awkward tanks are a burden. now you can leave home and leave the tanks behind with imogen one, the portable oxygen concentrator you can take almost anywhere with this little device. >> now i'm able to do the things that i've always loved. i just press the button here and there's my oxygen. >> the antigen one is so small and light. you're free to leave the house without the hassles of an oxygen tank. >> i could play golf again. i could go grocery shopping. i'm free again with the antigen. >> i can handle my own oxygen. i can carry my own oxygen. i go anywhere with this. look how small it is. >> and right now you can try an antigen one for 30 days, completely risk free. give us a call right now. if you qualify, we'll send you an an

. >>> later on, apple tv's big messi win and the implications for espn as disney stock continues to struggle. >>> we'll start with the market and whether anyone outside the so-called magnificent seven will start making a big contribution. wolfe calls the top for both the smh semiconductor index and the nasdaq 100, meaning nvidia's ridiculous run could be coming to an end. goldman sachs' trading desk saying there could be bad news for tech senior markets commentator mike santoli joins us now to discuss all of this. >> i usually know who i am i don't think you can deny after yesterday that reversal to the downside led by the nasdaq has tech sputtering a little bit you look at today, nvidia down, as you mentioned, amazon is weak this morning, the equal weighted s&p is up 1% if i look at quarter-to-date winners in the s&p it's a lot of energy, a fair bit of health care in other words, there are answers for big tech being a little stuck for a while if that's what it is. so, i think it's kind of an eye of the beholder thing. it doesn't get us out of this notion we feel like we're in bounceback, bu

. >> espn is essentially written into the agreement they need market share and that's the way you do.h they would not be specific about the target market share. by the way coming on with us we will ask about that. >> absolutely. we will be watching that. victoria, not a huge piece of the disney story economically, but representative of rethinking strategy that disney is doing. what are you hoping or expecting to hear from the numbers? >> the good thing is you get a peek into so many areas with disney. we look at streaming services, linear tv, we heard from the interview, that's not a core part of the business going forward so then we look at subscriber growth. two quarters of negative growth. so what is it this time? i have disney plus and hulu plus for live sports. if they combine bad am i less willing to take it away? probably, but we get to see the consumer and the strength of the consumer holding of the economy. there are elements here and the crosscutting, 5.5 billion in cost-cutting where do we stand on that? >> very ambitious crosscutting. obviously the strikes, bad news long-t