it is a very big prize, and the reason fox disney wa nted prize, and the reason fox disney wanted it,s of contents, you know, you have got lots of new content, and they saw this as a very big way of rolling out something, a distribution platform, if you like. for comcast, they wanted it for different reasons. they have seen their market share dwindling in the united states. netflix has been very successful over there. so theyjust needed some scale and international expansion. they need it for quite different reasons. both of them really wa nted different reasons. both of them really wanted will stop comcast, i think, were able to bid a little bit more, the cars as i say, disney had spent quite a lot of money acquiring fox and did not have the financial firepower that may be comcast did. so what happens next? is the deal done rather technical details to iron out? there are technical details. the board of sky will have to make a recommendation. i think it will be very hard for them not to recommend that shareholders take 10% more money than they would have otherwise, so that recommendat

this will be a disappointment to fox disney who remember rupert murdoch, owner of zist remember rupertcentury, sorry, it is quite complicated, he wanted to sell it to disney, he would have liked to have done that, including 30 and percent of sky and indeed all of sky will view this is not a lot of difference but we don't know what comcast‘s la nza for but we don't know what comcast‘s lanza for charging, what fees they will charge, they also are keen to get hold of premiership football which sky has the rights to. that may be interesting in terms of rolling out to other markets. was it one of the most epic and drawn out boardroom battles in history? absolutely. i think comcast have landed this knockout blow and it is the end of it. how could fox get it so the end of it. how could fox get it so wrong? the market price on friday closed at around £15 the only put in £15 and six to 7p n. when they basically bought fox, they ended up paying a lot more from that alike. they had wasted some of their financial ammunition or used it up in buying fox. that left them less able to be able to offer

they have done enough to win this, his will be a disappointment to fox disney who, remember rupert murdochst century, sorry, it is quite complicated, he wanted to sell it to disney, he would have liked to have done that, including 39% of sky, and indeed all of sky. will sky viewers notice an enormous difference? probably not immediately. but we don't know what comcast‘s plans are for charging, what fees they will charge. they also are keen to get hold of premiership football, which sky has the rights to. that may be interesting in terms of rolling that out to other markets. was it one of the most epic and drawn—out boardroom battles in history? absolutely. i think comcast have landed this knockout blow, and that's the end of it. and we'll find out how this story and many others are covered in tomorrow's front pages at 10:30pm and 11:30pm this evening in the papers. our guestsjoining me tonight are martin bentham, the home affairs editor for the london evening standard, and martin lipton, who's deputy head of sport at the sun. we hope you canjoin us for we hope you can join us for that. lab

they have done enough to win this, this will be a disappointment to fox disney who, remember rupert murdochto sell it to disney, he would have liked to have done that, including 39% of sky, and indeed all of sky. stay with us on bbc world news. still to come, singer extraordinary, now "ambassador extraordinary." rihanna takes on a new role promoting barbados. ben johnson, the fastest man on earth, is flying home to canada in disgrace. all the athletes should be clean going into the games. i'm just happy that justice is served. it is a simple fact that this morning, these people were in their homes. tonight, those homes have been burnt down by serbian soldiers and police. all the taliban positions along here have been strengthened, presumably in case the americans invade. it's no use having a secret service which cannot preserve its own secrets against the world. and so the british government has no option but to continue this action, and even after any adverse judgement in australia. concorde had crossed the atlantic faster than any plane ever before, breaking the record by six minutes. thi

assets it is unclear at this point whether comcast will eventually acquire the balance of sky from fox/disney, but it is certainly a logical possibility. if such a transaction were to be part of a larger cleanup transaction that sent comcast's 30% stake in hulu to disney, it would be significantly more accertive for the simple reason that hulu loses money. now, they have very strict rules in the uk preventing a trade of those assets but separately as they pursue acquiring those minority stakes, it definitely does make sense these media giants would prefer to avoid having to share ownership of those assets. >> could we be in a position where fox urges its own shareholders not to accept the comcast offer and so it does remain the minority holder in sky, which would make it much more complicated for comcast >> yes so it's very possible that fox/disney would choose to hold on to that 39% of sky for the deal to go through comcast just needs to get the shares of 50% of the shares to approve the deal so as for that 39% minority stake, we'll have to see what happens to that, but still in play. >> jul

reporter: there is a possibility fox with disney wins. they, with the highest offer and sky shareholders, 61%, currently owned by fox, that goes back. another interesting scenario. comcast could come out with the highest offer, but fox decides not to sell the stake to comcast so we could have a shared ownership between comcast and fox. that creates another dilemma for the independent board of sky. they might decide to recommend the fox offer, even though it is below comcast because they have fox may have an easier shot of getting the deal over the line where is comcast is starting from zero. vonnie: what is the latest word on the street about how rupert murdoch and family are thinking? do they still prefer the disney offer? reporter: i think the murdochs have become less powerful in this scenario. the disney-fox deal is going through. the sky stake is going to disney. disney is calling the shots. there is still speculation as to what happens to james murdoch, whether he will get a job at disney, whether he will do his own thing. we will se

fox backed by disney with an offer of 14 points in fox offer is for 61% of sky that they don't already own. sky shares have been trading well above the highest level for quite some time now suggesting that the investment community firmly believed that higher bids are in the pipeline. >> thank you very much appreciate that. guy petty joins us now as mentioned, the share prices higher than any of those offer force quite some time now. so what's your anticipated price and how high can it go >> you're right. the market is predicting a further uplift, it's effectively out there as an expectation. we think the current price is reflecting the next move what we will say is the final move, probably tomorrow evening sometime, we think probably could be up closer to 16 pounds or 16.50 pounds, which is the fullest price that someone can afford to pay. >> where are you getting that valuation from >> that's what we think the asset could be worth in a positive scenario without much incremental savings or synergies. this is mostly a cross-border deal for both players. >> in terms of who has the upper

fox owns 39% of sky. and then in the middle of this very long drawn—out battle of sky which involve regulatory clearance, disneyand then comcast decided to bid for fox, and also decided to defer sky. so 110w and also decided to defer sky. so now disney and comcast have basically settled their battle on fox, disney is merging with fox, and then that leaves only the sky contest outstanding. now, the reason we are in an auction situation is because neither of the two bidders, fox and comcast, had finalised the bid by friday, so that is why we have an auction. pretty unusual. very unusual. this is the third insta nce very unusual. this is the third instance of an auction. of course we know that when there are two virus, that means the value of the asset is good to go up. so one of the unusual situations as we have two buyers who are desperate for sky. white act when the result of this option is to announced tonight, there are still potentially some ts to be crossed and is to be dotted. the winner will need to buy the company, but that company needs to prepare an announcement to the market for monday morning. what w

disney. or whether your washer is a fox or whether you're comcast so it's an important get for both companies and explain two things in one if you can steve so how will this auction work and what role will disney play ok well disney is calling the shots for fox so far comcast has the highest bidder at thirty four billion and fox is in the thirty two and a half billion so it's kind of a secret auction so because they have the low bid fox is going to go first and if they refuse to bad comcast wins if they do bad contests go second if they refuse fox wins if they do but then there's a third and decisive bid but i say decisive it may not be because even after that the bids are in and they're all counted in the high bid is in these shareholders have two weeks to decide do we really want to go with that company after all fox owns thirty nine percent maybe we want to go with them disney has that has an incentive to drive up the price because they own thirty nine percent the fox shares and if they decide to keep it or sell it it will be worth more very interesting as always steve we thank you for you

fox and disney are selling their sta ke fox and disney are selling their stake in sky.ut throughout europe eventually and possibly the world in terms of paying for sports rights and movie rights, the whole pay—tv, any business model. something you miss in the teeth of the battle, rupert murdoch was pulled back to america so what rights is going to buy in america, how will he rebuild at the age of 86 a new film business, a rival to netflix and amazon? tectonic plates are moving, and amazing three—way battle, and now rupert murdoch selling out at sky his own baby. it's interesting because we are all talking about what comcast would mean but some a nalysts what comcast would mean but some analysts have said, rupert murdoch is taking back siege commies in his mid—80s... and is taking back siege commies in his mid—80s. .. and i is taking back siege commies in his mid—80s... and i thought, i don‘t think so at all. star india has gone, james fox has moved out of the business is now fox is the business ofjames business is now fox is the business of james murdoch and business is

by fox for sky it's not going to look too good now let's point out that fox owns thirty nine percent of sky and in effect disney owns it which we'll get to in a second because they are purchasing fox why is sky important because they have over twenty three million subscribers pay t.v. subscribers throughout five countries in europe they also have original programming in news they have a lot of sports so you're go to expand your reach whether. you're disney or whether your question is a fox or whether you're comcast so it's an important get for both companies and explain two things in one if you can steve so how will this auction work and what role will does the play ok well disney is calling the shots for fox so far comcast has the highest bid at thirty four billion and fox is in the thirty two and a half billion so it's kind of a secret auction so because they have the low bid fox is going to go first and if they refuse to bad comcast wins if they do bad contest go second if they refuse fox wins if they do but then there's a third and decisive bid but i say decisive it may not be because even after the bids ar

the bidders will be comcast and 21st century fox. disneyeaten out comcast by most of fox's entertainment aspects. ,f fox is the winning bidder disney would get control of sky. amazon's advertising business is rising faster than expected. they have raised an estimate from $2.9 billion to $4.6 billion. that is your bloomberg business flash. vonnie: let's take a look at where european markets are trading. less than four minutes to go, it is all good news for the ftse, the dax, and the cac. ♪ to rent a movie? showtime. or buy the hottest shows. even here? we've got you covered. now they are all yours. to take on the go. on any screen. bingo! alright! and watch whatever you buy. wherever you are. head to xfinity.com/stream to start watching. simple to rent, easy to buy, awesome to go. ♪ >> this is the european close on bloomberg markets. let's see where we are finishing up european trading. after a lazy morning, the stoxx afterosing up 3/10 of 1% a rally in the minors followed by the base metals. you are seeing that play out in the stoxx 600, 3%

fox, disney or comcast. >> we flow because they have the football rights. soccer rights. that's of concern to you wilf. >> nbc has the rights. that's not switching but anyway we will know that. >> who has the cricket rights. >> sadly here it's a hard to subscribe channel called willow hdp a frrn era fortune. >> "fast money" begins now >>> "fast money" starts right now. live from the nasdaq market site overlooking new york city's times square melissa lee traders tim seymour, steve grasso. guy adami tonight on fast nic' record run rages on. one of the traders says this is the beginning an a bigger rally. he will tell us how high hedge fund titan michael novogratz. he said bitcoin would be double. likely to hit 40,000 why is he calling for the crypt of comeback now and what does he think about the move in ripple he will talk all things crypto we heard you loud and clear krips o universe we tweeted you voted you want the bit coin bug back boom there it is the bit coin bug is officially back by popular demand at least for tonight so twitter take a chill pill we start tonight w

the two bidders will be comcast and fox. disneyeat out comcast to bring -- by most of fox's assets. if fox is the winning bidder, disney would get control of sky. volkswagen faces more competition in the race to roll out self driving cars. now one of the world's largest auto part surprises -- suppliers is getting in. on building a battery-powered delivery van to drive on its own. take a look at this. a new concept design for an autonomous car may remind you of something in your daily life and make you wonder why. inspiration for the easy pro came from a lunchbox. it is slated to hit the road around 2030 and while the 16 foot long robot will not need a driver, it will have a cost years -- concierge on board. bezos --, more just jeff bezos. that is bloomberg -- this is bloomberg. ♪ this isn't just any moving day. this is moving day with the best in-home wifi experience and millions of wifi hotspots to help you stay connected. and this is moving day with reliable service appointments in a two-hour window so you're up and running in no

comfortable and some ways to settle out settlements if comcast wins, they want to have a partner in fox or disney in sky or will fox decide to tender in whatever the number that comcast comes up with if they do raise 1475 alternatively, there are partners in hulu there is a larger question of disney that i heard the number from the crowd the guy in the bleachers saying do you want to have maybe three distinct direct consumer offerings out there. in other words, hulu and you will have sports, and entertainment if you are disney. it is an important part of the strategy of the future it is beginning now. it is going to rev up and when they close the fox deal. people do wonder do you incorporate it all in hulu do you need hulu is it confusing to consumer. they'll have to consolidate hulu on their own balance sheet of disney hulu is not making money it is losing money >> is there any reason why disney should not bid more in order to be able to end up with more money itself? what's the incentive not to? >> if you believe comcast will come up and you make them pay more and your value of the 39% is worth

what is next for fox and disney? tender thatox to 39%. >> that is what we are hearing. ender it but then they have to have a conversation with disney that now owns them. if disney agrees, fox will do it. if rupert murdoch was involved. in 2010 that this was the company that he had --nded in the bidding my not might not have played out this way. as it stands, the only people celebrating our sky investors. it is not yet over for comcast. fox and disney might have lost even though they are claiming an almost victory. sky investors -- if you purchased them in 2016, you're sitting on a pretty pile of money. anna: anyone smiling in the mining sector? up lessold shares are than 5%. most of the miners have had some troubles. production was low. outlook was not that great. randgold has had labored troubles and tax disputes in some of its markets. you are also wondering what this means next. some investors say they are not africaith it going into and taking on geopolitical risks. let us see how the canadians respond. anna: thank you very much ruth david from our deals team. you ca

if fox is the winning bidder, disney would get control of sky.kswagen faces more competition in the race to roll out self driving cars. now one of the world's largest auto part suppliers is getting in. they plan on building a battery-powered delivery van to drive on its own. take a look at this. a new concept design for an autonomous car may remind you of something in your daily life and make you wonder why. inspiration for the easy pro came from a lunchbox. it is slated to hit the road around 2030 and while the 16 foot long robot will not need a driver, it will have a concierge on board. this would be to help with the logistics of delivering online orders. coming up, jeff bezos. amazon everything. this is bloomberg. ♪ i'm all about my bed. this mattress is dangerously comfortable. when i get in i literally say, ahh. meet the leesa mattress. a better place to sleep. this bed hugs my body. i'm now a morning person. the leesa mattress is designed to provide strong support, relieve pressure and optimize airflow to keep you cool. hello bed of my drea

worried about. >> one element that may be in play, speculation at this point, is hulu, disney will own 60% once the foxns 30%. do you think they would benefit by owning all of hulu? and what about consolidating the lo >> i think one of the problems that we have in disney is that there is this home remodeling project they're going through and part of that is rolling up hulu and absorbing the losses and also the investments and the giveup they're giving around the rights for their content and to bring that back for their ott so it's not clear 2019 will be a great earnings year for disney i think iger is looking longer term and i think that they're likely to try to negotiate the other 30% of hulu from comcast so i think if that's where they're going, that would be the way to handle it. >> i know you don't cover disney everybody is looking long-term bob iger, brian roberts, randall stephenson and the recent purchase of time warner. who is in the best shape to compete with netflix >> i think they're all in better shape than they were and these bigger behemoth are trying to use their balance sheet top positi

agreed to by part of fox. disneyky, if fox wins the auction. sky is made up of a series of news and sports, and entertainment networks. it is valued around $35 billion. the auction was agreed-upon after the companies went through several rounds of bids and counter bids. struck delta airlines bringing facial recognition technologies to the international terminal in atlanta. the faces of international passengers will be scanned from the curb to the gate. the delta says the process will be optional for customers instead of using tickets, your face will help you get through security along with boarding the plane. delta colvett egg limbs of the future. >>> if you have noticed a growing number of spam calls to your cell phone, you are not alone. there is a new study that says spam calls account for about a third of all mobile calls in the united states. up from three percent early last year. the report projected by next year the most half of all cell phone calls will come the scammers. experts say it is best to not pick up

walt disney is reportedly buying a large chunk of fox's assets, and it will bring their stakes up to t. disney have a backlog of content of their own and planning to remove from netflix. they could get sky into the fold as well. they have a back catalogue of content. do we tend to aggregate, migrate to a certain platform because it has better content or is it quite disperse, is that they are vibrant market for these? in the grand scheme of things, if you look at how other industries operate, one or two players are dominate the sector and the more fragmented it is, the more fickle customers want because they did not want several accounts. however things play out, i think the more fragmented it is, the more difficult for certain players to get a holding of this sector. in most industries, it is common for a couple of players to beef up their content and go from there. couple of players to beef up their content and go from therem couple of players to beef up their content and go from there. it begs the question of there for, is this too little, too late? netflix at amazon already have th

loses, a fox disney disney has already won the bulk of fox's entertainment assets.ig blow for brian roberts. loses, you would think that it has to do something, has to go after something else. to go you said he wants international, which he has not thus far. bob has artie got an international -- already gotten international offers. nabila: some people say maybe he could by viacom. that is like saying, i would like to buy tesla but instead can i buy a scooter? david: it has got a lot of work to be done on it. it is not coming along right now. ng along right now. alix: that is what you will be doing, watching it tick. nabila ahmed, thank you very much. the pound taking a dive and u.k. yields dropped as well. we discussed the latest on theresa may as the bbc says she is not changing her tact on brexit. ♪ to rent a movie? showtime. or buy the hottest shows. even here? we've got you covered. now they are all yours. to take on the go. on any screen. bingo! alright! and watch whatever you buy. wherever you are. head to xfinity.com/stream to start watching. simple to rent,

disney, 21st century fox, comcast.avid, thank you, for bringing us the latest. >>> coming up, virtual reality is becoming a business reality we've got walmart, verizon, jetblue and a number of others making big moves to use vr for employee training. find out why, next. >>> take a look at shares of survey monkey, up 61% as it goes public we've got more "squawk alley" after the break. imagine traveling hassle-free with your golf clubs. now you can, with shipsticks.com! no more lugging your clubs through the airport or risk having your clubs lost or damaged by the airlines. sending your own clubs ahead with shipsticks.com makes it fast & easy to get to your golf destination. with just a few clicks or a phone call we'll pick up and deliver your clubs on-time, guaranteed, for as low as $39.99. shipsticks.com saves you time and money. make it simple. make it ship sticks. ♪ ♪ our new, hot, fresh breakfast will get you the readiest. (buzzer sound) holiday inn express. be the readiest. at fidelity, our online u.s. equity trades

as havenot as serious disney and fox taken over sky. francine: are they ever pain?aying? ismail: possibly. this is something that really excited sky shareholders. of comcast will have to make the case back in the boardroom to go ahead with the deal. of the great themes of the american analysis of this is that brian roberts, is he fighting the last war? do you perceive this transaction as a martyr of old technology versus the new technology of streaming? : comcast has the but operating only in the u.s.. it has been pretty much landlocked. what this deal with sky offers is a great way -- gateway out of the u.s. obviously, sky operates in five countries with its satellite operating service. sky has its own offering in the form of tb. sky can say it is comcast's european twin. it has managed to offset the rise of online tv players. sky hasn't suffered in a manner that traditional pay-tv operators is capable of. sky is very much a natural fit for comcast expansion plans. both have similar technologies. tom: thank you so much. it is a fed week. it is a month and even an a

the ceo of comcast really outfoxed fox and disney. disney had acquired fox to actually get sky. the price and made it so that bob iger lost out on sky in the process. this is putting comcast in an interesting position. loaded the company with that at , aren't peoplee cutting the cords with cable? jason: only one thing i love more than deals are media moguls. this all comes together. thank you. comcast came out as the big winner in a bidding war with disney over sky. they won the battle with a $39 billion offer in a rare three round action over there in london. carol: investors do not seem to be celebrating. we went behind the battle lines. felix: the head of comcast has told the story. he was in london talking to the cab driver, the cab driver is going into these details of sky versus virgin and what service is better. brian roberts is thinking, my cab driver cares this much about getting this paid television, maybe we should get in there. he attributes that to his interest. he's been keeping his eye on sky, the culmination of a multiyear process. carol: he's paid a lot of money

comcast won the bidding war for sky, beating 21st century fox and disney to expand its empire abroad.red 10% more than fox in an auction overseen by british regulators. sky and is9% of expected to sell that. lawyers for the woman accusing the sky and is expected to sell one -- for then accusing brett kavanaugh of sexual assault confirm she will testify on thursday. has been threatened over her claims but believes it is important for lawmakers to hear what she has to say. the white house continues to support kavanaugh, saying he needs to clear his name. hong kong has inaugurated a new line to china, dramatically lowering travel time but raising questions about beijing's line influence on the. it took eight years to build. it will carry 80,000 passengers a day to and from china. this covers 26 kilometers in 14 minutes, down from one hour currently. global news 24 hours a day, on air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i am haslinda amin. this is bloomberg. haidi: let's take a look at markets and how we are setting up f

for five point two billion dollars the move will significantly reduce the debt of disney following the purchase of fox and allowing disney to have resources to invest in content creation and time now for a quick break but hang here because when we return we'll peruse the planet and talk geo political economics with john cavaletti the president of the u.s. trade and economic council plus we discuss the circular economy with tracey chambers the c.e.o. of the clothing bank who is fresh from the united nations sustainable goals how can businesses make more efficient effective use of inputs and ways for increased returns and a more sustainable planet we'll talk it over with tracy as we speak in appropriate break here are those digits at the closing bell back in a flash. just buy that'll survival get. customers go buy. good health well reduce some lower. that's undercutting but what's good for markets it's not good for the global economy. and that it. had to get that will. and that to the money at that one the money of the two. that it. didn't get the money and that is out there will it is how much of that

forast won the bidding war sky, beating 20th century fox and disney to expand their empire abroad. comcast offered $39 billion, 10% more than fox in an auction after a joint outbidding more. fox holds 39% of sky and now expects to sell the state to comcast if disney agrees. japan has landed to drones and asteroids as part of a mission to study the origins of the solar system. they were moved around by jumping 50 meters and a time because week gravity made rolling difficult. -- tore set to lower i lower early next month. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. if we look at west texas oilrmediate, which is the traded largely in the u.s. and in new york, it has been inching above or near 72 in the past week. largely --which is which is largely used by the rest of the world is edging toward 80. saudi arabia's oil minister says they are going to pump it up to meet demands. they say saudi arabia did not increase more and all of the customers are receiving all of the barrels they want. signals it raises

the two bidders would be comcast and 21st century fox. disneyt comcast for most of fox's entertainment access. if fox is the winning bidder, disney would get control of sky. the european union has let mcdonald's off the head. ended a tax investigation by ruling the fast food giant did not get unlawful state aid. it's a rare reprieve the mcdonald's escaped the fate of other corporations forced to pay eu nations back taxes considered to be unfair assistance. that is your bloomberg business flash. alix: president trump wrapping up the trade more china, and china punches back, and the markets take it in stride. >> i suggest president trump dos with president xi and like most businesses in china and figure it out. it has to come from the top. >> this dispute could go on for some time. jack ma said it may last 20 years. you never know. maybe it is an all of french too only implement a 10% tariff for now. 25%.e pickup is importantly as you run into the midterms, you'll see the u.s. talking about the next phase, talking about phase three because of chin

comcast shares were dow about 6% today while twenty first century fox and disney both rose. >>> in another deal barrick gold is going t buy rival randgold billion. they will be the biggest goal miner. shares were higher in today's trading session. >>> and there were more deals. sirius xm radio is buying online streaming serviceandora for $3.5 billion. that deal comes amid heightened competition from streaming muse sib apps and podcasts. shares of pandora and sirius fell michael koors is reportedly interested in buying versace in a takeover that values them at 2 3w8d. michael koors has been looking for both in the luxury line to competeith lewis vuitton and coach. shares of koors finished the day 8% lower. >>> despite today's pull back in stocks, thearket does remain near all-time highs but will investors continueo take on more risk and lift equities even further? mikeantoli takes a look. >> reporter: stocks are about to enter the fourth quarter in good position for a winning year. the s&p 500 is up 9% so far in 2018, on tra for a better 12% annual gain. along the way the market has rakd up

fox, disney or comcast. >> we flow because they have the football rights. soccer rights.ou wilf. >> nbc has the rights. that's not switching but anyway we will know that. >> who has the cricket rights. >> sadly here it's a hard to subscribe channel called willow hdp a frrn era fortune. >> "fast money" begins now >>> "fast money" starts right now. live from the nasdaq market site overlooking new york city's times square melissa lee traders tim seymour, steve grasso. guy adami tonight on fast nic' record run rages on. one of the traders says this is the beginning an a bigger rally. he will tell us how high hedge fund titan michael novogratz. he said bitcoin would be double. likely to hit 40,000 why is he calling for the crypt of comeback now and what does he think about the move in ripple he will talk all things

. >> tyler, comcast topping the bid of 21st century fox and its new owner, disney, to acquire british broadcaster, sky comcast paying 10% more than fox's highest bid. comcast saying it will increase the international revenue from 9% to 25%. sky advising shareholders to accept the offer immediately with comcast paying 60% more than fox's initial bid for sky back in 2016, and 38% more per share than comcast initially offered, analyst craig move fit downgraded to neutral and lowered the price target on the stocks the spotlight now shifts to the 39% of sky that disney will own through its fox acquisition. the question is whether disney will hold on to those shares or will sell them also, what did this mean for hulu, of which comcast owns 30% and disney will own 60% once its fox acquisition is completed sources close to the situation telling me, there's talk that comcast's stake in hulu could be in play as the two media companies look to avoid having to share ownership of those assets now comcast says it expects to complete the transaction before the end of october it needs more than 50% o

they were pushed into a blind auction on saturday by fox and disney.ou know, comcast' brian roberts holed up in london in a hotel as we've been reporting and disney and fox somewhere else in london. you know, trying to compete for this asset and it yielded a huge difference in price between the two, you know, just about 17 pounds from comcast and 15 from fox. so shareholders worried about the amount they paid. is it a question of winner's curse? one of the long-term holders is saying today as we reported on the bloomberg that their buyer clear bridge, they think it is going to work out over the longer term. we'll see. >> i hate to say it this way but the best word i can use, there is any ego at play here given the big deal that comcast hoths out to when it came to the 21st century assets that they lost out to disney? >> some of the people around this deal i have spoken to said brian roberts had to do this. i think it does show in the price paying 17 pounds, a handle i don't think i've seen in any analysts' reports. people were surprised. that is reveal

today was the final round of comcast or fox and disney to withdraw their bids. neither of them have. so here we are. 5:00 p.m. is when they can start making the bids. first round fox bids and comcast counterbids in second round and third round is sealed envelope bid-off with the uk regulator will announce the bids, basically saturday evening. we have shareholders of sky voting on the winner over the next few weeks. but you would imagine that one comes through with the highest bid would probably win the sky assets. now it is complicated as we know fox already owns 39% of sky and wants the rest it doesn't own. comcast already put in a higher bid than fox. sitting at 14 pounds 75, for comcast, higher than the 14-pound bid fox put in. look how sky is trading right now, i will convert it to u.s. dollars, sky is trading higher than bids put in at $21. the market anticipates a bidding war to take place on saturday and those bids should be going up. how much higher? hard to say at this point. we have game theory at play, according to a lot of analysts basically put in a

comcast down 8% after they beat out disney and fox for the sky assets in london. that foxf the company is not own, paying. when disney and fox first made a bid for those assets, it was closer to eight pounds per share. so it's a massive spike up and investors are wondering if they for that too much international exposure and we have pandora trading higher on , flying the siriusm company for $3.5 billion. we are looking for modest the kleins today. overnight in asia, we saw the hang seng trading sharply to the downside and european markets did not react the same way and now the u.s. market is not reacting the same way. they are taking the latest china story a little in stride. we have seen a bit attached to mario draghi is in brussels talking to parliamentarians and he is sounding quite hawkish. vonnie: he is talking about a relatively vigorous pickup in underlying inflation. we are seeing a movement in bonds as well. bonds are more often some of the core bonds but he's leading the entire story across europe. you also have a question in the market -- are the markets

>> just hang on a second at&t and time warner, disney and fox, comcast and nbc disney still is yet tohave worked and are working. you can find a verizon with aol and oath >> i don't know what you're talking about. >> content and distribution is what i'm saying. >> my own sense -- >> verizon or at&t >> oh, i own verizon and i would prefer buying verizon. >> me, too >> i give time for at&t to get the story out. stevenson has to put it together and we'll see what he says on the quarterly conference call now that it's nine months. i don't know about the justice department arm wrestling again on a re-examination of what the judge said i would like to get that out of the way after the election certainly. and in addition to that clearly columbia pictures owned by sony is in play music is in play because of spotify. i have avend e avendi on the qc. and, you know, you're going to have the outpouring of money in this election is only a mini election wait until 2020 and a year from now the market will look at that and a lot of buyers for tribune. >> how are you viewing the sky auction? >> the st

don't think they're they're friendly with disney i don't think that the robertson and bob iger a best of buddies after they went through the bidding war for fox were by the way uyghur i believe think said comcast drove that price that disney had to pay over. seventy billion for fox even though they maybe had no intention of going through with it. so here's here's what's going to happen with the thirty nine percent because comcast made the bid so high as you pointed out almost forty billion dollars there thirty nine percent of sky disney's thirty nine percent of sky is now worth fifteen billion dollars at that offering so some say disney's going to cash out take the fifteen billion and pay down some of that debt that they incurred for the fox deal others say that maybe they'll just stay in it and ride and see what you know what sky could do for them it's a joy all that and the crown that that i wanted but doesn't have one other footnote here five may one of the caviar at disney owns now because a fox by buying fox sixty percent of hulu comcast owns thirty eight hundred ten so there might be a swap in the offing here which doesn't even get tota

hulu is currently owned by comcast, disney, fox, andey dea to buy fox's mov on.o keep up every day. it changes a little bit. >>> finally, airline passengers could get a break from ever shrinking legroom.ngss is expec legislation this week that would require the faa to set new minimum requirements for seat width and legroom. the measure would also prohibit airlines from bumping passengers who have already boarded a flight. however, the legislation doesn't include any steps to regulate bag fees. so, it's a little bit of some hope there for some fights. >> just a little bit. >> they're going to make their money back somehow. >> of course. >> thank you. >>> a new documentary revealing new details about meghan markle. plus, an extreme competition where fear of heights is not an option. you're watching "early today." nm moderate to severe rheumatoid arthritis was intense. i wondered if she could do the stuff she does for us which is kinda, a lot. and if that pain cou etng. joint pain could mean joint damage. enbrel helps relieve joint pain, and helps stop further damag

fox via disney had offered basically 14 pounds a share. on u.s they're not considered best and final. if you're bob iger, you've already won the fox bid, the fox deal it actually benefits you to just be radio silent on the sky thing. because then, you know,if you're comcast you're like do i need to raise my bid before anything else happens? i think sort of the uncertainty needs to play into it. whatever deal that comcast ultimately tries to make the deal play out, they could -- disney could cash out nicely >> you don't believe that there was ever any unspoken sort of understanding that comcast didn't make disney overpay for all the other -- >> so that's the other side of it >> that's not going to happen? >> there was no sort of -- the relationship between disney and comcast between bob iger and brian roberts hasn't been best so in a normal business environment, there might be let's just calm this down a little bit doing the reporting, right we want to make sure people know what's potentially going on. also the fact that the comcast bid, you

rivals like amazon, google and netflix, sky is an incredibly important strategic asset for both fox, and disneyst, which is why we are where we are now. mark sweeney. chas hodges — one half of the musical duo chas and dave — has died at the age of 7a. he formed the pop rock band with dave peacock in 1975 and became pioneers of the musical style labelled "rockney". they had 8 top—a0 singles, including rabbit, ain't no pleasing you and snooker loopy. chas hodges passed away as a result of organ failure. he'd been suffering from cancer for some time. let's listen now to their first top 20 hit gertcha, from top of the pops in 1979. # gertcha when the kids are swinging on the gate # gertcha when the # gertcha! chas hodges, who's died aged 7a. the former tottenham and chelsea midfielder, micky hazard, who collaborated on tracks with chas and dave for tottenham's 1981 and 1982 fa cup final wins, spoke to me a little earlier. he was an incredibly lovely gentleman. my first memory of him was playing in football tournaments with him, organised by his ex—manager bob england. and then obviously, when we os

now we are -- the question, will disney allow fox, which does want to, from what i understand, come withigher offer i think it was the 13th of july, where disney added that last bit of a sentence that said they need debt financing and need our approval, and we might not give it for more or less that's what they want. and -- maybe they will elect to provide it i have not gotten a good idea of it it did not seem likely that disney was interested in going higher, but my understanding is rupert murdoch has been working on it and working on bob iger to potentially think about going higher, and we will see many say house of representatives higher would our parent company comcast go 1550 as high as 16? some people say 16 is a crazy number people tell me we're already close to crazy-land. talking about mid single digits grower it doesn't mean there isn't a desire to own it remember, the 39% that fox owns will increase in value the question is would they tend are into any offering, if they didn't comcast still has -- they would opt be dealing with 61% of the stock out there. saturday we should kn

disney. that did not work out. he came in and tried to buy fox ss. this is a victory.nally wins one of those deals. at the same time they are paying a huge amount of money for this. >> sanctions only work if they are in force. why the treasury's tough talk is falling short. >> who pays for the tariffs? president trump says it is china but consumers made bear the brunt of most of it. >> this is bloomberg. ♪ >> welcome back. foroin us every day bloomberg businessweek from 2:00 to 5:00 wall street time. >> you can find us online and on our mobile app. >> since president trump took office sanctions have become the economic weapon of choice at least we. from iran to russia. >> with 2018 three quarters gone a crucial element is missing. the enforcement. >> the u.s. has put in place several new sanctions in the last year and a half. the actual enforcement of those sanctions is on the decline. goes afterry companies and entities for violating the sanctions orders they put in place, the enforcement has been getting less and less to the point where this year, currently, three qu

fox is in there with a bid of 14 pounds remember, fox is being backed by disney after disney and foxecured a deal earlier this year sky shares are trading well above both of these levels as they have for some time suggesting that investors firmly believe higher bids are in the pipeline >> julianna looking at the auction. i have a feeling we'll speak with you monday when the auction finalizes. >>> president trump holding a big rally in las vegas last night. in washington continue verscy contin controversy continues to surround his pick for supreme court. tracie potts has more. >> now there's a negotiation going on about whether or not and when dr. christine blasey ford will testify here it looks like they're pushing that for monday. she says she can't make that date, to possibly next thursday. in an e-mail obtained overnight by nbc news, attorneys for christine blasey ford say she is too busy dealing with death threats to prepare for the hearing on monday. written testimony before this morning's ted line wondeadline h everything else they say is negotiable, including an fbi investigat

get more content on scale particularly if fox and disney can get together >> this is josh brown. >> how are you. >> i'm doing great good to hear from you on this topic. following that thread let's talk about whether cbs and viacom would be the more obvious thing to have happen >> the answer is i've watched rich parsons who does a great job, he has been fantastic over the last 20 or 30 years that i've known him the notion of common sense at some point in time, let's put the two together >> if they come together, though -- my feeling on viacom specifically and maybe cbs a little bit is that they do have good content not the best but a lot of it they don't have distribution for the 21st century >> i agree >> don't you get a bigger lionsgate and not necessarily an answer to the real problem for the consumer >> i agree only 4.5 million subscribers and netflix is 130 million >> and you have to assume disney will be bigger >> how do i accelerate that and that's a work in progress. look, a great movie this year for paramount was "mission: impossible." i don't think the notion it's as you're des