he already had fox corp and co chaired at news corp, ideologically locker murdock is known to be like the typically fox news viewer. writing more than likely can assist and triggered by so called political walking. under his watch, fox news has sometimes provided a mainstream platform for some extremist views from the fringes of the american right. as it tonight, tens of millions of american suspect. this election was stolen from that. if this deal does go through, i'm laughlin murdock, the influence grows across the news corp, prepared to see some editorial changes, not to be confused with improvements at outlets like the wall street journal. thanks mean the united kingdom is in a state of political disarray with the ruling conservative party melting down. prime minister list trust resigning after just 44 days in office and the wider population dealing with a cost of living crunch. a rare wave of work stoppages has portrayed unions and the media's treatment of them into the spotlight as successive rail strikes have taken place. influential right wing newspapers, including those owned

fox corp paid in company of the writing american outlet, fox news, news corp, which owns publications like the times and the sun in the u. k. and the new york post and the wall street journal in the u. s. being the companies under one roof, we create a mega media corporation that can better compete for online advertising and subscriptions with tech giants like google, amazon, and netflix. this isn't a done deal yet. fox corp makes money, but it's business brand is toxic, and many news corp shareholders may not want it in their portfolio. at 91 succession planning is something rupert murdoch has already been doing for decades . and this plan would clear the way for his eldest son, laughlin murdock, to eventually take over the entire media empire. he already had fox corp and co chaired at news corp, ideologically laughlin murdock is known to be like the typically fox news viewer writing more than a little conspiracy. and triggered by so called political walking. under his watch, fox news has sometimes provided a mainstream platform for some extremist views from the fringes of the americ

--fox corp. with news corp. >> wall street is cutting its -- explaining why he is calling for 4000 a year and on be based -- benchmark. take a listen. >> we have seen repeatedly these rallies that we have had that have been remarkably powerful based on the negativity that is out there and they weren't sustainable. they weren't sustainable because the issues at hand whether it is monetary policy, generally more aggressive stance, and committed stance by the fed to curve inflation, as well as political dysfunction in washington and abroad. supply chains that will not -- are still not up to pre-pandemic levels. all this gives pressure and concerns of the market, we have to think that 12% of site from here to the end of the year makes more sense but almost 33% upside based on where the s&p close on friday so we are bullish on equities but it will take more time until the fed has effect on curbing inflation. >> let's bring in our chief equity strategists on more insight. he just said that we need more

since fox sold the entertainment assets to disney, fox corp's, has sunday football. fox broadcasting has struggled to launch new hits and doesn't have a streaming service, instead relying on free ad supported. and the digital real estate division have grown faster than expected as fox corp and news c rorp have evaluated board committees, fox's market cap is $16 billion. that stock is down 21% year to date, and news corp down 26%, a hair more than the s&p 500 declines the loop capital downgrading both stocks saying they quote believe combining the entities would be a negative for the public shareholders of each company saying we do not see material synergy in combining both companies, nor do we believe the larger scale will move the couple for either company. credit suisse downgrading, noting fox is facing challenges, including growing advertising risk, and cord cutting, accelerating, noting the merger would not resolve fox's need for streaming scale. recombining the two would allow for cost cutting on corporate expenses and better cross promotion across the platforms

corp. they are trading at 17 times multiple if you look at fox, 4 times multiple you could argue that news corp would stand up fox not the other way around i don't know if people are going to see synergy the only real synergy in size and getting rid of management. things like that potentially you could argue dow jones industrial average and wall street journal and consumer brand focus combined with fox business after that, i'm not sure there's particular synergy in the trans transaction. there is a chance you will see the shareholders say we don't want to do this or the special committee say we don't want to do this. there is also a separate piece which is people don't see news corp beyond the wall street journal and dow jones industrial average equal to zillow worth $6 billion. that, unto itself, activists have gone to the company saying that should be spun out. >> what is it? >> a bunch of businesses inside news corp. a sort of diagram of things that can happen to this the idea that the murdochs slam the kcompanies together. >> fox is a smaller entity >> there is a voting issue if you are

saying the combination of fox and news corp. llenges ahead for fox businesses, such as streaming, of course, and others. >>> meantime, b of a with results before the bell. leslie picker has more on their results. >> good morning. the market likes what they see with regard to earnings shares of bank of america, higher today, pulling up large banking peers. they notched a beat on the top and bottom line. on the analyst call this morning, chairman and ceo brian moynihan talked about the strength of the u.s. consumer with slower spending level and higher deposit amounts >> on customer liquidity, the level of customer liquidity remains strong high relative to a year ago. these bounces still multiples of the pre-pandemic periods and largely unchanged at the elevated amounts for the month of september these deposit levels suggest continued capacity at extended levels. >> they showed a chart in their earnings presentation, just the multiples regardless of income level that they're seeing with regard to deposits relative to pre-pandemic l

and explain what a combination of fox and news corp.two companies resemble >> well, honestly, i think it would resemble what it looked like ten years ago i think we forget that ten years ago, they had that phone hacking scandal in the uk and they realized a few bad actors could bankrupt the whole ship. i think this was going to be a positive i'll tell you right up front, i don't want to buy it today i would rather wait for third inning to see if these cost cuts happen, we can get profits going, and key people don't leave. but i think it's actually very important for them to recombine because we live in a highly competitive media environment with streaming and social media and all these things, so they will have a chance to -- remember thatchance, remember th world omni channel able to cross-sell all content between fox and news so i think it's the right thing to do. my problem is that, really, sold more as a cost-cutting measure and i'm very afraid of defections that could ruin the soup by combining it so let the bold take a shot on it

corp. >> and he immediately rushes back to the fox newsroom, screaming, we're under attack! we're under attack! >> at the same time, lachlan murdoch is in a meeting, strategizing with the hr people. for the time being, lachlan wants to really keep this anthrax letter under wraps. he has thousands of employees working for him, who might now be at risk. >> lachlan rushes to the newsroom, makes a beeline to ailes, and in front of everyone, he tells roger to calm down. this is the absolute worst thing you could do to roger ailes. and worst of all, this is this privileged, sniveling gnat of an executive in his face, the boss's son. he is furious. it is probably the biggest mistake lachlan has made to that

coombs >> good morning, seema succession may be a few weeks away, but the myurdochs combinin fox and news corp. this would bring them back together that split nine years ago. his son serves as ceo of fox so far, none of the murdochs has spoken about a deal. the recombination we bring together wall street journal and posting saving the murdochs money by not running two companies. >>> and goldman sachs is planning to reorganize according to bloomberg, the bank would merge the businesses under another umbrella which is a third division would house transaction banking. the portfolio platforms specialty lender and ventures with apple and general motors. >>> and elon musk reversing course over asking the pentagon to pick up the tab when it comes to free starlink internet in ukraine. tweeting on saturday, the hell with it. starlink is still losing money and other companies are getting billions, we will keep funding the ukraine government for free. in a letter, the company said the use of starlink in ukraine could cost close to $400 million over the next 12 months. that is according to reporting from

corp. confirms it will explore a combination with fox corporation. reporting that rupert murdoch was considering reuniting his media empire that he split in 2013. news corp. now confirming it will explore combining once again with fox. meantime, elon musk's deal to buy twitter has had many twists and turns, one might forget this started on january 31. that is when musk quietly began binding twitter shares. he has since gotten a lot louder in many ways. "bloomberg businessweek" broke down musk's tweets by the numbers. joining us for a look at what has been going viral all year is bloomberg's ed ludlow. crunching the numbers, what interesting insights that yield? ed: it is the frequency and volume of the tweets since january. in may, we were surprised how quickly elon musk put the deal on hold and raised his concern about the level of bots on the platform. -- level of bots. after the deal was put on hold, there was a big spike in the number of tweets he was making. then, things go quiet. a few weeks later, everything changed because twitter sues to enf

rupert murdoch wants to combine news corp. and foxreating the media behemoth he split apart nine months -- nine years ago. it would likely consolidate power in the hands of his son, currently the ceo of fox. so far, none of the murdoch plan have spoke probably about the deal but it was acknowledged it is in the works on friday. global news 24 hours a day on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. manus: jules, thank, juliette saly with the agenda this monday morning. the white house u.s. national security of has told cnn president biden is reevaluating u.s.-saudi relations after the opec-plus output cut leading to an escalating public dispute over oil. >> the president isn't going to act precipitously, he will act methodically, strategically, and take his time to consult with members of both parties and also to have an opportunity for congress to return so he can sit with them in person. >> is halting arms sales on the table? >> as i was saying,

belfried that murdoch wants to recombine the parent of fox business with news corporation which owns the "wall street journal." so you've got news corpshares down 9.9%, w shares down 8.4% right now -- b shares. news corporation owns the "wall street journal", market watch, dow jones news wires, harpercollins, among other things. fox has announced leaders of both organizations have separately are begun exploring the combination of the two. credit suisse downgrading fox from neutral to outperform on merger concerns but says the deal would likely be approved given the murdoch family trust's dominant voting bloc in each. >>> shares of continental resources are gushing on news that the billionaire founder will take the u.s. shale producer private at a valuation of about $27 billion. the stock right now up 8.5%. hamm has offered $74.28 per share for the stake not already owned by him and his family. now look, we're at 74.08, so not far from it. the all-cash offer represents a people upof 8.9% to -- premium of 8.9. hamm and his family own 83% of continental's common stock. and elsewhere in the energy secretary -- sector, this is an interest

want to go to axios senior corps correspondent, fox news contributor as well.s wonder how much these debates move the needle. i can see consequential ones on presidential levels, ronmy reagan, jimmy carter, their one and only debate comes to mind, but here what do you make of what's at stake in atlanta tonight and the senate to have y'all battle? how to you sort it out? >> look, i think debates matter, but a lot of times these days people already make up their mind before the debates take place. in fact, a lot of people are are already voting before the debates take place these days. look, that georgia senate race is very volatile because a lot of people haven't seen herschel walker speak and talk about policy extensively in person, so this is going to be on statewide television. he's going to have a big spotlight. he's trying to lower expectations, as you saw in the sound bite, trying to kind of lower the bar, pass it if he does do a decent job. but, look, these debates, if you make a big mistake, if you make a blunder, that is a type of event that could chang

a stock of ktvu zone er, fox down more than 8% on the announcement that news corbyn fox could recombine after news corpf in 2013. this includes companies such as wall street journal barons, the new york post and harpercollins . inflation could be causing a slowdown in employment growth and layoffs are beginning to rise, especially in the bay area tech market. ktvu tom baker has a closer look at the labor market and its effect on the economy. we've created nearly 700,000 manufacturing jobs just in the last 19 months. businesses are investing here in america, but beyond hiking interest rates, part of the federal reserve's plan to fight persistent inflation and called the economy is to weaken labor markets so that normal growth can get back on track. we don't know. no one knows whether this process will lead to a recession or, if so, how significant that recession would be mega employers such as salesforce, oracle google. and meta have either laid off people or announced hiring freezes. as a result, many tech recruiters are being shown the door employees in mortgages, real estate and homebuilding continue

corp. >> and he immediately rushes back to the fox newsroom, screaming, we're under attack!nder attack! >> at the same time, lachlan murdoch is in a meeting, strategizing with the hr people. for the time being, lachlan wants to really keep this anthrax letter under wraps. he has thousands of employees working for him, who might now be at risk. >> lachlan rushes to the newsroom, makes a beeline to ailes, and in front of everyone, he tells roger to calm down. this is the absolute worst thing you could do to roger ailes. and worst of all, this is this privileged, sniveling gnat of an executive in his face, the boss's son. he is furious. it is probably the biggest mistake lachlan has made to that point. and now there's a big mark on lachlan's back. ♪ ♪ >> lachlan murdoch is here. he's deputy chief operating officer of news corp, the global media empire built by his father, rupert murdoch. he is also considered to be the eventual heir to his father's company. welcome. >> well, thank you very much for having me. ♪ >> in 2000, rupert makes lachlan the deputy chief operating officer

fox news pumpkin cam. meanwhile, the marine corps marathon is in washington today, one of the largest and most popular in thee crowd running with the travis manion foundation. dozens of charities partner with the marathon to support causes ranging from military support to medical research. participants must maintain a 20-midnight9 per-mile -- 20-minute per-mile pace. full round of applause to griff and all who are taking part. >>> this time of year can be hard for thousands of children of america's heroes and who happen to be serving overseas and unable to take their kids trick or treating. that's why organizations like the uso work around the clock to offer support to military families and make the holidays special. joining me now live is uso o and ceo j.d. crouch. j.d., welcome. >> great to be here. mike: so what ice your wonderful organization doing to make the holidays better for military families, particularly the youngest members of those families? >> right. this kicks off our busiest time of year, the holiday season. this is what people miss the most, they miss the time around the thanksgiving dinner

corp. of engineers and fema. we have fox weather's will nunly in front of the first home in fort meyers that will receive a free roof. will. >> reporter: molly, good afternoon. with showers in the forecast, the need for protecting the roofs in this area is great and that's where the u.s. army corp. of engineers is stepping in and mobilizing right now to help that problem. the roof behind me, the blue tarp is part of operation blue roof. the crews just stepped in about an hour ago to work on this home. already they have it covered and they've been able to get some of the debris and old shingles off the >> get that cover in place. it's meant to be a band-aid essentially and something to protect the home best as they can and there's a waiting list for weeks and months to really have an overhaul on a lot of the roofs and, boy, is there a demand. i spoke with the corp. a moment ago and say nearly 17,000 homeowners have signed up to receive this assistance in the fort meyers area and incredible work they have ahead of them. i spok

fight a battle a series of battles called the battles south mountain foxes gap, gap and crampons gap at crampons gap. the six corps wins a smash victory. they crush the confederates they break through into pleasant valley. they are now on the clauses rear at foxes and turners gap. the confederates hold their position. lee brings longstreet two men down from hagerstown. they lose half their men in the march. the they reinforce d.h. hill on south mountain. and they hold their position. but they lose the key terrain. so during the night, lee makes a decision that he is going to retreat. and we'll get to that in just a moment. but the last i want to wrap up on special orders, 191. it has been suggested that it didn't really help mcclellan. he already he already had a plan. he didn't have a plan. it helped mcclellan immeasurably. i don't i i don't ascribe to the idea. special orders 191 didn't help mcclellan. it confused him. it didn't confuse him. it answered a lot of questions. he was very confused at all these movements that were confederates crossing the potomac in williamsport were confederates up in hagerstown we

corp. the move would likely consolidate power in the hands of his son lachlan, the ceo of fox. client has not spoken about the deal but the company acknowledge the deal was in the works on friday. francine: ellis atkins in london. coming up, the bank of england ends emergency bond buying, a look at how u.k. assets are faring amid the drama. this is bloomberg. ♪ and it's easier than ever to■ get your projects done right. inside, outside, big or small, angi helps you find the right so for whatever you need done. with angi, you can connect with and see ratings and reviews. just search or scroll to see upf on hundreds of projects. and when you book and pay throug you're covered by our happiness it's easy to make your home an a check out angi.com today. angi... and done. francine: welcome back to the open. 30 minutes into the european trading day and here are your top stories. u.k. bonds surge of the expectations of more u-turns by the government. the new chancellor is set to make a statement at 11:00 a.m. london time. china's president xi backs covid zero at the party congress and

news corp. , the giant media company controlled by rupert murdoch, has made an unsolicited $60 a share offer. >> what good bauer, american idol, and fox"wall street journal" was trading it for peers >> by the way, the "new york times" in pandemonium, pandemonium. >> newspapers like the "wall street journal" don't change hands very often. this is a once in a century kind of moment. the first thing i remember trying to do was get an interview with rupert murdoch. i remember they said, come on over. so, i walked down 6 avenue, and went to the news corp building, into the belly of the beast . there were newspapers everywhere. that is the thing i remember actually more than anything. he had almost every newspaper lined up on the wall. and i think he read them. he was so knee-deep in the family dynamics of the bancroft family, and who liked who, who wanted to screw who, who was going to kill who, and how you would basically split these people apart. of course, he told us repeatedly , i am not here to break up the family. i think my family should meet with their family. he was a family man, who had been a steward of his media companies, and

fox broadcasting. >> i was 28 years old. >> we're clearly an alternative to the if network. we don't think of ourselves as abc, cbs, or nbc. >> it was very clear rupert made this a priority within news corpg the way, that would be okay. there was no guide to what to do. it was pretty clear very fast that the unconventional shows worked. 21 jump street, "in living color," "married with children". >> "the simpsons." >> it was really just a slightly lower brow, more populist approach to entertainment. >> i'm rupert murdoch, billionaire tyrant. >> murdoch really pushed that agenda. he likes the big headline, the screamer, the things that grab your attention. >> he has on shows like "a current affair," which is basically a tabloid newspaper front page being slapped up on the air. >> tonight the last days of a hollywood legend who didn't care whom he took with him to the grave. >> there was kind of a raw truth telling to the show. this was the place where every man could go to for their news. >> there were ambush stories. >> a staggering situation on our hands here. >> one day, makeikhail gorbache was coming to new york. donald trump wanted to meet him. so they hired a gorbachev lookalike, put

fox was suddenly too small. >> there is a revolution that's underway in which we watch television in america. >> players like netflix, amazon, apple who orders a magnitude larger than news corp. it was no longer a matter of wanting sky, it was a matter of needing sky. >> for james, this second bid for sky is a chance for personal redemption but it's also a chance to change the dynamics of the succession fight. >> he gives an interview on stage at the royal television society conference in cambridge. the first big set piece public thing he's done in the uk for years. i was in the audience that day and everyone in the tv industry in the uk doesn't really like the murdochs and everyone's hoping that he's going to die on his [bleep] >> can we just do a quick show of hands in the audience of who thinks that this deal should go through? would you say half? >> way more than half. >> but i think he does sort of handle it quite well. >> in the us and some sectors, they think i'm the raging liberal environmentalist tree hugger, and here i'm the right-wing demon who's going to foxify everything. and i'm glad of that because i think mystery is kind of an important part of an identity. >

fox two news this morning's on tv. alright as we take you live to the opening bell this morning, the perfect corp they are in a i corp celebratingg the dow as the bell rings live. about to wrap up the best october since 1976 the dow up almost 14.5%and nasdaq and the s and p 500 are also up for the month after two straight months of losses, as most of us know, and october is typically kind of a rough month, so it was nice to see some big gains right now. it does look like a lower opening, but we'll have all your business news coming up. thank you for waking up with us here on morning san to pam cook. good morning. i'm dave clark. it's monday. it's october. 31st you already new. it's halloween, and steve is your halloween forecast and what's ahead for us? well i think we'll be okay here. we'll get through this tomorrow morning will be a different story. but tonight cloudy mostly cloudy and the breeze will pick up but it will be out of the south. but we'll go with fifties and sixties on the temps. well a lot of cloud cover on the way. but most of this will arrive overnight into tomorrow. so you know earlier ago, the better but i th