potentially of hbo max. taking movies out of rotation because they did was spend money on rocketing. i'm thinking about the new batgirl movie which has already been shot. >> the key thing is amortization. looking at the amount of debt that the team brought in, looking at what he can do specifically with hbo max, i think we will see less of a culling. then the press made it seem out to be. the rumor has been a lot on twitter as reporters tried to guess what will happen with hbo max. the earnings report -- what we are seeing is that hbo max skews male and discovery skews female. before discovery plus came in, they are saying we are already making this content, it's doing well on cable, so we're going to bring that to hbo max. when discovery plus comes and they say we are making this content, is doing well in cable, it is a brand unto itself. hbo max can focus on scripted content that works. we think we will not see as much of a culling as the reports made it out to be. that being said when you talk , about str

the hbo max, that's a great product and combining hbo max and discovery and await that is scalable andsible, that's going to help them not beat out netflix, but definitely be a contender. emily: so you are saying to spread your bets right now? >> i think we are trying to declare a winner in the streaming wars. it's far too early. we need to see what a lot of these companies with studio components, we need to see what their strategy is for handling all that content across a bunch of different revenue streams. the key take away that we are seeing as the subscriber growth slows down a little bit, i think the take away is that streaming is not necessarily the end game these companies, but an important support system for its other different investment areas. two or three years ago, everything was streaming. now, everything is but also includes streaming. emily: what about disney next week? it has been a tough ride. >> my major concern with disney is he promised over projection the bob did -- bob chapek gave was ambitious. eventually, you run out of countries to launch in. my biggest concern

hbo max.e're going to see how those two brands come together into one service. i think when you look at something like house of the dragon, this is everything hbo is known for over the last 20 years. incredibly well produced, high-end premium content. emily: we are already seeing some of those growing pains, as discovery tries to merge these two cultures. what is your expectations about how it is all going to play out? >> you got a company, the reality is for discover, this was a save. discovery did not have a future as a standalone company. they were going to be in deep trouble, just being in the cable network world. especially in the nonfiction -- that world is not going to look pretty over the course of the next 5, 10 years. i don't think anyone believed in the future of discovery plus. so, because at&t needed to get out of the warner media business, it is this unique opportunity for assay for john malone -- save for john malone, they wind up being in control of one of the largest media com

hbo max will merge with discovery plus next year. and to make room hbo max will cut 36 movies and shows next week. it is mainly pulling kids and family shows. executives saw people visit the site for mostly adult content. cuts will save the site some money. hbo max doesn't have to pay residuals to cast and shows that aren't streaming and some shows cut are the not too late show with elmo and little ellen. >>> fall in the bay area is big for the wine business. the north bay is throwing a big tasting event tomorrow that has a unique back story. the tenth annual tasting features wine from 14 members of the napa sonoma vintners. they once pick the crops themselves. now they make their own boutique wine. the event has art, music and other highlights. it happens at the sugarloaf crush in santa rosa. >>> okay, this next one is a story of perseverance. robert heitz was paralyzed in 2003 after accidentally diving into a sandbar in lake michigan. after three years of intense physical therapy, he regained the function of all his limbs. flash fo

hbo max is no longer the sole focus of warner bros.'s discovery.hey are licensing from third parties like amazon. >> we are seeing these streamers make more moves into sports. amazon will show thursday night football in bars and restaurants as a deal with directv. you're talking about there being more viewers on streaming than on cable for the first time ever. his sports the only way to take streaming to the next level to that next generation or chapter? >> sports is a great way to get people to come in. if you have champions of the which is what paramount plus just acquired, the only way you can watch it is to sign up for paramount plus. if you want to watch wrestlemania, you have to have peacocks. each of these platforms are by his close of sports rights. the negative is you don't own the content. you have to keep fighting every 3, 5, 7, you have to keep fighting for these. netflix owned stranger things forever. it is not disappearing. they don't have to rebid for those rights in three years. sports is a double-edged sword. but what is interestin

it is not going to hbo max _ hit the mark. it is not going to hbo max either? - hit the mark.heatre and get it online? well, we will see what social media drums. we have seen social media spark the release of other films like the cyber cut. fans can generate enough enthusiasm that a field ultimately is release. for the moment it does not seem to have a home. ., , ., moment it does not seem to have a home. .,, ., ., a home. people might want to watch it now — a home. people might want to watch it now that _ a home. people might want to watch it now that they - a home. people might want to watch it now that they can. i a home. people might want to watch it now that they can. a i watch it now that they can. a huge disappointment for glasgow, where it was filmed. is this a bit of bad news for the uk film production looking to have more movies come and film here? liik to have more movies come and film here?— film here? uk film a business is booming. _ film here? uk film a business is booming, based _ film here? uk film a business is booming, based on - film here? uk film a business

. >>> the added content you might soon start to see if you subscribe to hbo max. stay with us, you're watching today in the bay. mornings are our time, and i couldn't let stiff joints slow me down. so i started taking osteo bi-flex every day because it has joint shield... ...clinically shown to improve joint comfort within 7 days. osteo bi-flex - find our coupons in sunday's paper. . >>> happy friday. taking a live look at san jose, a clear start and we will see temperatures feeling nice and comfortable today. we're starting out at 63 degrees. we'll see a mix of sun and clouds with temperatures in the mid 70s as we get ready to head off for lunch. taking a look at our micro climates and look ahead to events going on this weekend, coming up. >>> on the live camera, a few seconds ago we had someone pulled over taking care of business in the service lanes. they just got back on their way and traffic looks like it's moving smoothly across the san mateo bridge. >>> good morning, from cnbc i'm christina douglas. wall street opening high above the big economic news of th

. >>> streaming giant hbo max and amazon brace for a crucial few weeks with key releases due. and cineworld is struggling to fill theaters. >>> happy monday wonderful to be back with you this morning investors are gearing up for the annual jackson hole symposium. they will listen to jay powell on how far the u.s. central bank is willing to go to bring down decades high inflation the event comes with the disconnect with the markets and fed. rallying on the back of strong earnings and hopes the fed may slow pace of rate hikes to prevent the economy from tumbling into recession. markets are now pricing in a 50 basis point hike at the fed september meeting and even a possible cut next year despite comments from officials indicating otherwise cnbc will be at the jackson hole summit in wyoming. coverage begins thursday this summit comes amid a packed week of earnings and data. let's run through the highlights zoom and peloton both report this week as well as retailers macy's and nordstrom the tuesday numbers are pmi readings from august across europe and the u.s wednesday is six mon

comic book fans in a frenzy this morning following news that hbo max has decided "batgirl" was a $90sion might have lasting repercussions for your favorite streaming services too. this morning, "batgirl" defeated. >> why so serious? >> reporter: the bombshell decision to cancel the film's release putting a spotlight on a coming merger between streaming giants hbo max and discovery plus into a single streaming platform. this as streaming services experience massive subscriber nosedives. netflix says it lost nearly a million subscribers in its last earnings report. those losses raising questions about whether films like "batgirl" can turn a profit on the big screen or on streaming. >> i don't think that any company is healthy enough to want to flush that much money, you know, down the drain. $90 million is significant. that project was significant. >> reporter: "batgirl" had a $90 million budget and would have seen michael keaton back as the caped crusader on hbo max. execs saying the installation into the batman universe, simply did not work. fans freaking out. >> i feel like throwing

is now more than 5% college student avi vo just dumped hbo max after he finished watching "successionfford to subscribe to each and every platform >> reporter: comcast, nbc universal's parent company, just announced that subscriptions for its streaming service peacock has stayed flat while peacock's losses have hit $467 million, though the company says revenue is growing still, across the industry consolidation is already under way earlier this month warner brothers discovery announced hbo max and discovery plus will soon merge into one streaming service. brian says his famil streamlined their streaming services and canceled four services recently saving at least $30 a month. >> we're much more loyal to the show itself and not as much the streaming platform >> reporter: if the pandemic with its captive stay-at-home audiences was the dawn of the streaming era, consider this the wake-up call gabe gutierrez, nbc news, new york >>> up next, a wedding 911. the police and their boat saving the day and "inspiring america. the day and inspiring america. the day and inspiring america. tg the d

but it is not going to hbo max either, as i understand it, is that correct?le might want to skip over the theatre and just get it online? well, we will see what the horns of social media drum up. we have seen social media spark the release of other films, like the snyder cut, for instance. sometimes, fans can generate enough enthusiasm that a film ultimately is released. so we will see what happens here but for the moment, it does not seem to have a home. people might want to watch it now that they can't. laughter. that's sometime the way it goes. i was just thinking though, it was filmed in glasgow, which must have been very exciting for glasgow, and now a huge disappointment. do you think this might be a bit of bad news for the uk film production, that's kind of looking to have more movies come and film here? the uk film business is booming, based on some of the productions that i see taking place there. so, house of dragons, which is the hbo's prequel to the game of thrones, was shot there, big netflix period drama, bridgerton, was shot there, star wars en

hbo max and discovery+ will merge next year. bscribers will have various options between hbo scripted entertainment and discovery's reality-based programming. it comes as hbo max struggles with performance and customer issues. the c.e.o. of warner brothers says discovery+ has better services. .>> trevor: it was hbo go, and then hbo now, and hbo max. at this point i feel like they're messing with us. next month they'll be like,s, our new name is hbo bitch-as. they're merging everything into one giant company. i know that's going to be weird, but i for one cannot wait to see how all of these bigger shows combine. >> coming up on "house hunters westeros." >> first of all, a sword chair? what is this? 1527, guys? let's switch that whole thing up. let's put in a cute ottoman. knock down some of the walls. switch out the blood with a fresh coat of paint. we have to switch the thermostat, way too hot. >> also on the new hbo discovery+: >> to fundamentally alter the nature of my family on my wedding day? do you have any idea how goddamn

it's out now on hbo and hbo max.d carmichael will be joining me [ cheers and applause and her album, "high," is out this friday. caitlyn smith is back on the show to perform for us [ cheers and applause it's going to be a great show. but before we get to all that, we got yet another disturbing headed this week, when donald trump endorsed congress and matt gaetz accused the military of focusing too much on wokeism. meanwhile, president biden proposed a new billionaire tax aimed at reining in america's massive wealth gap for more on this, it's time for "a closer look." ♪ [ cheers and applause >> seth: there is obviously a lot going on in the news this week continuing apace the u.s. and its allies announced new sanctions on russia's barbarism in ukraine. a new report says it's now or never to avert irreversible climate catastrophe. there's a new variant of a highly contagious respiratory virus swirling around out there. and on top of all that-- >> former alaska governor and one-time republican vice presidential nominee,

what the company plans to do with hbo max is next stay with us we're back in two. in two seconds, a vacationer will say... yeah, i'm going to live here. only to realize... what if i can't sell my place? ♪♪ don't worry. sell it directly to opendoor and we'll help you buy your next one. aah. when life's doors open, we'll handle the house. >>> good morning kristina partsinevelos, here's what's happening this hour jihad group is threatening to act revenge. seven dead 40 wounded. israel estimates around 15 people were killed the attack comes amid rising tensions in the area, raising fears of a larger military conflict. >>> two of the people injured last night by a lightning strike near the white house have died they are identified as a man and a woman in their 70s from wisconsin. two others remain in critical condition. the white house says it is saddened by the deaths and praying for those still fighting for their lives. >>> president biden is celebrating this morning's report that payrolls grew by 528,000 and the unemployment rate foley 3.5% last month in a statement

and hbo max, some rumors about what happened there as well for content, right, julia?ere have been a lot of rumors flying around about hbo max, but i would just say -- and i'm not going to repeat the rumors, but i would say david zaslav understands the importance of hbo and hbo max. how they end up combining that with discovery and how much they charge for the bundle, we're waiting to hear on that. but i think they very much understand the value of the brand and the premium content that they're so known for in these shows, whether it's succession or a spinoff of "game of thrones." that's going to be launching in a couple weeks big budget but high-profile content that could get new people to sign up for this kind of service or get existing subscribers to stick around. >> i don't know. you say content and you had some fifth sequel of some dc comic soup that's not, what about "whiplash" what about movies like that? julia? >> by the way, movies, it's ""top gun" maverick is the reason it's performing so well "top gun" maverick has been in theaters for months now and has bee

what we reported was that they're going to merge the discovery plus with hbo max, the two major streaming services. they will merge those two together under one entity. there is going to be cost cuts involved in that. i don't believe they're going to give specifics cost cuts and layoffs in this earnings. they will announce the merger but not going to i have get specifics how much they will save but there clearly will be savings. from what i understand of people inside of company, telling fox business network there could be significant layoffs in the coming weeks and months ahead. liz: obviously. >> merging legal departments, merging manment, you're merging tech, you're merging marketing. liz: synergies. >> i hate that word. we keep hearing that. >> job cuts. >> synergies a lot of things. these are the downside of synergies not just cost cutting. he has to save $3 billion worth. some of the interesting stuff how will they rebuild the business? that will come out today. how will they rebrand this? what will they say today? i know they're studying getting rid of any trace of word hbo in the

soledad: the hbo documentary film, “katrina babies” is on hbo and hbo max..” >> some people tell me to fix my hair. and by fix, they mean straighten. they mean whiten. announcer: the poet and new york times best-selling author giving voice to the connection between hair and identity in america. and still to come -- soledad: another entry in the race to renewable energy. announcer: what kinds of cars will drive us to a green future? meet ron. that man is always on. and he's on it with jardiance for type 2 diabetes. his underhand sky serve? on fire. his grilling game? on point. and his a1c? ron is on it. with the once-daily pill, jardiance. jardiance not only lowers a1c... it goes beyond to reduce the risk of cardiovascular death for adults with type 2 diabetes and known heart disease. and jardiance may help you lose some weight. jardiance may cause serious side effects, including ketoacidosis that may be fatal, dehydration that can lead to sudden worsening of kidney function, and genital yeast or urinary tract infections. a rare life-threatening bacterial inf

amazon down 3.5% but parent of hbo max warner bros getting clobbered, down 7.25%. twitters began wondering if it's because amazon is making the fantasy drama lord of the rings, the rings of power. a show being promoted as dragon's big rival. amazon prime video will debut the first two rings of power episodes on september 2. wait, house of the dragon, rings of power. okay. speaking of amazon, amazon's lobbed in a bidding war, which is sending shares of signify health a lot higher by 32%. reports of the home health service provider plans to conduct a board meeting to evaluate multiple buyout offers including from united health, cvs and option care health. "the wall street journal" says the price tag could be as high as $8 billion. last month amazon took a real step into entering the home health medical business and acquired one medical. you've got option care up a quarter of a percent. cvs down 1.78% and, yeah, signify having a nice move of about 32%. folks, we're in the dog days of august and airline passengers are still howling when it comes to flight mares. days a

hbo max is merging with discovery plus.shift strategy for affiliates that include dc comics, tbs, tnt, and cnn. by next summer, they will combine with discovery plus, which includes reality tv like food network and tlc. the cfo of hbo says they will no longer prioritize projects with children and family entertainment select content could come to hbo max as soon as the september break >> and airport worker is making sure he's keeping entertain before they hit the sky. >> beyoncÉ has taken notice. will has more on the videos going viral. >> imagine you're sitting in an airplane waiting to take off. you see this out the window. >> he couldn't even be mad if your flight got delayed. >> let me address this. we have nothing to do with this. we have nothing to do at this. >> he is an employee bringing this to the runway. >> is boring, so we like to tip out on the ramp and see what guys are doing. put on a show. >> this video has racked up millions of lights, even catching the slight -- attention of beyoncÉ. she included in her fir

discovery down 17% after reporting a big loss also announced plans to merge its streaming service with hbo max plus and hbo plus basically and beyond meat up nearly 23% despite slashing its revenue outlook and announcing layoffs we've got three glasses. let's bring in lee munson, cio at portfolio wealth advisers let's kick things off with draftkings i thought it was draftkings and fanduel and i thought that was about it in this space and it's not that way at all. >> there's a lot of competition, i don't think that's what the core issue is. we understand that draftkings, there's good news. if i was trading this i'd probably take some money off the table and all of this is on the hope we'll have a better football season and all this kind of nonsense tyler, the core issue isn't just competition or the cost of getting people to come onto the platform, but you're dealing with a casino wagering structure that doesn't have food and entertainment to sell to make some actual profits. i don't see profits. i don't believe that the total addressable market by 2030 is really going to quadruple from where i

yet because we are awaiting ratings on "house of the dragon" which debuted last night on hbo and hbo max. this is part of a high-stakes attempt to extend hbo the streamer's most valuable franchise, "game of thrones," with a prequel and it comes after the final season of "game of thrones" fell flat with fans a reported 15 to 20 million dollars an episode this series comes at a time when hbo max and the other streamers are fighting to draw and retain consumers, consumers who are expected to be cutting costs and perhaps cutting back on the number of services they pay for. warner brothers discovery shares are down about 43% year to date, and ceo david zaslov has said he's looking for billions in additional cost savings. this is going up against amazon's biggest content bet yet. in just a week and a half amazon prime is launching "the rings of power. this is set before "the hobbit" and "lord of the rings." the five seasons that are in the works are expected to cost over $1 billion, making it the most expensive tv series ever made by far. and it's part of amazon's strategy along with the right

again, hbo max does not suggest it was about the quality of the show, got rave reviews, including my.it was the victim of the decision to pull back on life actions kids and family programming. one of the shows executive producers told jean carroll bla times, quote, screens, you don't want to be in the latina space. last week, we learned the role of fidel castro in the upcoming film, alina of cuba but, will be played not by oscar isaac or nicolas gonzales, or one of the many talented latino men in hollywood. but rather, by james franco. this cast, despite, quote, very intense search for a latino man. get this, producers say they used castro's ancient terribly as their compass, and no one matched with castro's shape better than franco. you can but john to jonah hill, joey garcia, but you can't make anyone in your binder full of latinos look like a cuban man. i mean, is the hair and makeup really that tight? outreach latino actors like john leguizamo have it right. this is about representation. yes, i would like to see my daughters, watch electronic superhero. i would like to see cuckoo.

producer created "a black lady sketch show," which returns for season three this weekend on hbo and hbo maxour friend robin thede will also be joining me. [ cheers and applause and not to toot my own horn, my book, my children's book, is in its second week on the new york times bestsellers list. [ cheers and applause started -- week one, it was number three, and now it's up to number four. [ laughter ] it was very exciting [ laughter ] one day, number ten. anyway, it's called, "i'm not scared, you're scared." it has a rabbit and a bear first children's book ever to have both. perfect for the easter basket, or just to, you know, just to leave out for bears. i don't know i'm not in charge of marketing it's available wherever you buy your books, but please remember to support local and independent bookstores speaking of support, i would love your support as i attempt to segue from a children's book to tonight's "closer look. here i go. donald trump took the next step in his slow-moving coup over the weekend when he went to michigan for a rally in part to support fringe state-level candidates w

his documentary series "the last movie stars" is streaming now on hbo max., our good friend ethan hawke, everybody! [ cheers and applause ♪ >> seth: i love it looking sharp, my man. looking sharp. >> i'm about to go on the louisiana hayride with hank williams. >> seth: i love it >> by the way, that album cover looks insanely cool. lamb of god. does it not remind you a little bit of khonshu from "moon knight"? i don't know if you saw "moon knight [ cheers ] >> seth: yes, i did. >> but it's got a little khonshu vibe to it >> seth: we try very hard. we always want to also promote your work when we promote the guest drummer. >> i appreciate that i appreciate you thinking about me and i'm thinking about you >> seth: yeah. it's very nice hey, this is -- we talked about this like two years ago, how this project came across your plate. this is a wonderful six-part documentary series about paul newman and -- >> can i stop you? >> seth: yeah, please. >> this has never happened to me -- my shirt is stuck on the -- on the thing. [ laughter ] and i'm kind of casually pre

hbo max shares the same parent company as cnn. >>> thanks for joining us. "early start" is next. started selling my health products online our shipping process was painfully slow. then we found shipstation. now we're shipping out orders 5 times faster and we're saving a ton. go to shipstation.com /tv and get 2 months free. >>> welcome to our viewers ins united states and around the world. it is august 26. happy bring. i'm omar jimenez. >> it is friday. we made it, great to have you here this week. i'm country teechristine romans. we'll get a glimpse into the legal jeopardy faced by donald trump.country christine romans. we'll get a glimpse into the legal jeopardy faced by donald trump.try christine romans. we'll get a glimpse into the legal jeopardy faced by donald trump.y christine romans. we'll get a glimpse into t

the majority of which work in the hbo max department. take ago look at shares of warner bro's discovery. right now the stock is down about 3.33%. chachartly, you ratterred this t week. charlie: yeah, he said we're going to combine these streaming services with discovery -- hbo max. max. cheryl: yeah, it gets confusing. charlie: we're going to talk about disney later. he was going to combine and we report that had a i did before and report that had it would lead to rounds of layoffs and from what we understand, this is the first round. again, from my sources close to the company, there'll be more layoffs, more downsizing, there's going to be an incredible focus on cost here. i mean, one thing that zaslav believed there was too many silos in the old warner media company, the old time warner media. lots of overspending in certain streaming services over there. hbo+, a lot of overspending. cheryl: slow down in advertising for tv. charlie: he's got his eyes on cost and again, we'll hear a lot about layoffs. unless you're one of the 70, i don'

we're seeing nbc and peacock jump in, hbo with their max service, 18 billion minutes in the month of july of "stranger things" alone streamed on netflix. 18 billion minutes. >> i can't even compute that. we're on traditional media and peacock, we have it both ways. will cable media ever catch up or has that ship sailed? >> it's trying to catch up by having it both ways and that's the change in the business that we've seen. streamers like netflix are always going to stream. the traditional broadcast networks are starting to catch up whether it's cnn, nbc, hulu in the mix, espn trying to say, okay, traditional still has a place and obviously movies will be in the movie theaters. streaming is here to stay. you have hybrid models where things are coming out in theaters or on the traditional screens at home and streaming on your devices that are portable at the same time. there's a lot of choice out there. >> i'm just getting used to seeing a movie in the theater or first run at home. >> but your children will grow up and become adults maybe not seeing all that many advertisements in thei

and discovery+ into one streaming entity but started removing a lot of content from hbo max like ed content, so i wonder what is up here what kind of financial benefit do you get by writing down all this content or removing it from the platform? >> yes, great to be here, really, for the acquisition, largely complex, trying to put all pieces together that is going to safe time, hbo has over seven different offerings the hbo max, is going to be merged into with discovery plus. the backdrop of discovery is unscripted programming, hbo is premium author kind of a catch-22 management has to look at trying to come up with -- synergy for saving, at the same time get viewers excellent content. so it is going to be a big risk for this company when they can really pull this off after fierce competition. >> i am crews why management would be removing, content off of say the hbo platform like one of the series was vinyl hbo series one season camping was one season series wasn't renewed. but what is the financial incentive to remove it? again, are there ongoing fees in keeping this content aliv

for hbo max, this is a standalone operation here especially considering they just did the merger withdiscovery, right now i think probably they have more riding on this show. >> do we know how much they're spending. >> reporter: it's been reported at between 15 and $20 million an episode. of course, that's just reported and there's millions more on marketing, et cetera it's really about how it fits into that franchise -- i mean how that franchise fits into the streamer right now they need a massive hit to get people to subscribe if that worked, they could have more shows and spinoffs to come. >> julia boorstin, nice to see you. thanks >>> joe, we've got a new show to watch apparently. >> trying to put together a new i idea godzilla versus king kong. what if the hobbits met the characters on "game of thrones" s. there any way to merge tolekein and -- probably not possible. >> when amazon ends up buying warner brothers discovery down the line, when everybody consolidates to just be amazon, yes, there's probably a spinoff that puts them altogether. sort of like the marvel characters they

pollination with the company announcing it's putting chip and joanna gaines discovery content on hbo maxnn contact on discoveryplus another thing they want an update on is cost-cutting and last quarter the company estimated $3 billion in costs and we're seeing examples of that including shelving "bat girl" which cost an estimated $90 million to produce an advanced test screening fell flat with fans and there is, of course, an accounting benefit to taking a writedown jon? >> julia, thank you. that will do it for "the exchange." i'm join courtney reagan on "power lunch" which starts right now. ♪ ♪ >>> come on over, jon. welcome to "power lunch. i'm courtney reagan along with

hbo max is doing well, paramount plus added subscribers. stream asking a new paradigm for consumers to interact with and consume awesome content, i think it's here to stay. i think warner bro's, david zaslav has his work cut out for him and he'll succeed wildly, but he has a lot of debt, he has linear channels, traditional theatrical business and streaming, all which he has to manage very cohesively and align all those businesses in order to maintain his paying back the debt and growing his dollars, which i'm sure he will. i wouldn't read too much into the statements. liz: when you look at all the subs that netflix for example lost over the past two quarters. the first quarter was a surprise and people were shocked and then they did lose fewer than expected for the second quarter, but considering the fact that you've basically bit off a bunch of content. you've purchased extensively that goes straight to streaming, how do you interpret that as you say streaming is still very much alive. >> well, netflix still has over 220 million subscriber

was it hbo, hbo max -- with looking like? are we have a lot to get through here. earnings-per-share, steve has the details. >> was shares are up. after solid beats on adjusted eps. loss of recent expected and a solid beat at $79.1 million going away expectations of $20.5 million. speaking of that, ceo called just now and for 2024, is expected to reach $1 billion. that goes up even more. for q3 guidance, the x company expected revenue 1.0 billion to $1.06 billion. it is lower than the 36% growth in 2021. growing significantly up 50% to nearly $377.2 million. by the way, i chatted with president johnson simmer about that and he told me that the net loss was largely due to the tightening around interest payments and partnering with a large insurance companies to hold saying that those are part going apart inflation. is going to be on the squawk box tomorrow morning and breaking down the results at 8:14 a.m. >> would you rather lift or uber? >> lyft is the answer and has been for a while. if you lived in this quarter, it wasn't a disaster. 2.1% and a 3.1% this quarter

if the game is all about streaming, why is netflix losing subscribers and hbo max, despite the successf the house of the dragon cutting programming? >> i think a few months ago you heard a lot of noise about whether streaming is oversaturated, how many services can we have, but if you look at what's going on and how disney has been able to overtake netflix in subscriber count or outside of streaming and look at new york sometimes and news content space, breaking 10 million subscribers, it's clear there's no great unsubscribe going on. we're simply at the beginning of the age of content. you know, that being said, competition, competition is certainly increasing and what you're seeing the winners in the media dorks the disneys of the world and new york times of the world, they're being creative how they bunked and will price and do promotions with companies like say verizon and disney has hulu, espn, marvel, pixar. the new york times have athletic, wordl, cross word puzzles, home cooking and home delivery. you're seeing this whole space going to a new area, new level of maturity and new

[ cheers and applause ] >> rob: all episodes of "hacks" are are available on hbo max.doing such a good job. >> rob: i love you. >> i love you, it's so fun. [ applause ] >> rob: i've had the best time here. i got to interview so many of my friends. but now i get to interview my family members. >> i know, it's very exciting. i know you're hearing a lot of good feedback. but i also know that you were here all day today and i'm wondering if you got your text from your dad this afternoon. >> no, i've been rehearsing all day. >> rob: i thought so. i'm going to go ahead and read that to you if that's okay. he sent a text to you and to me. i think maybe at some point you should talk to your dad about how you could just deliver a compliment without sneaking an insult in here. >> rob: oh. >> yeah. >> rob: okay. >> yeah, this is fun. this is to the both of us. "congratulation, rob, you were amazing on kimmel. i've heard more compliments today from more people about last night than i ever have in the entire run of "it's all sunny in philadelphia" or "mythic quest." >> rob: oh. >>

the chief announced hbo max and discovery plus will merge. we are waiting for the new name.t is set to launch next summer. hbo max and discovery plus. >>> beyond meat struggling the company out with unappetizing second quarter earnings the results are wider than expected loss and weak sales the company reports it will cut 4% of the work force this comes a week after mcdonald's uprooted the mcplant from the restaurants the research firm added the company to zombie stocks that stock of beyond meat down 8% today and more than 50% this year. >>> and one person's trash is another treasure luxury fashion house balenciaga is giving them a garbage bag they call it the trash pouch the company reports a garbage bag inspired the calfskin drawstring sack. the price is cheap $1,800. >>> today at the pump. the average cost nationwide for a gallon of gas is down to $4.13. we have not seen that price since late april still costing 95 cents more than last year. >>> on wall street the dow down 86. s&p down 3 nasdaq up 52 >>> i'm shepard smith on cnbc. it's the bottom of the hour. time for the

i have to point out each of those two series on amazon and hbo max, they're dropping shows once a weekseeing a move away from the netflix binge model. guys >> the streamers have learned that lesson the hard way julia. i do wonder if you're sensing any clues into warner's strategy here that might be extrapolated to say comics and d.c., or something like that. >> they want to find the franchises that resonate with fans, we talked about bat girl, they decided not to release that movie. they're testing the content and especially the films and make sure they work but for this one, they want to make sure this series works, then that franchise could have more legs for the streamer. >> we're going to talk about it more as we get into fall pretty fascinating, julia, thank you. >>> amazon is one of the multiple names, uber, meta, and alphabet read their full call today on cnbc.com/pro don't go away. >>> dad took photos of his naked toddler for the doctor, google flags him as a criminal. that was the lead of a "new york times" story over the weekend that has provely experts and parents concerned,

hbo max. just this morning we got news of cross pollination with the company announcing it's putting chip and joanna gaines discovery content on hbo max and cnn contact on discoveryplus another thing they want an update on is cost-cutting and last quarter the company estimated $3 billion in costs and we're seeing examples of that including shelving "bat girl" which cost an estimated $90 million to produce an advanced test screening fell flat with fans and there is, of course, an accounting benefit to taking a writedown jon? >> julia, thank you. that will do it for "the exchange." i'm join courtney reagan on "power lunch" which starts right now. ♪ ♪ >>> come on over, jon. welcome to "power lunch. i'm courtney reagan along with jon ford and he'll join us in just a second. we are less than 24 hours away from a huge jobs report for the markets and everyone wants to know the real state of the economy. we hear from two ceos on what they're seeing on inflation ask the supply chain and especially the

they announced that hbo max and discovery plus will merge into one. it is set to launch in the u.s.er. hbo max and discovery plus account for her about 92 million subscribers. >>> beyond me struggling to find business. they cannot with unappetizing second-quarter earnings today. the company also reports it will cut 4% of its workforce. an equity research firm has been added to a list of zombie stocks. that is beyond meet. >>> and one persons trash is another treasure. thankfully luxury designer they are calling it balenciaga is giving people a trash bag. the price, $1018 >>> the average cost nationwide for a gallon of of gas is down to $4.13. still, a gallon cost $.95 more than it did this time last year. >>> on wall street, the dow is down and the s&p is down 3. the nasdaq up by 52. >>> i am shepherd smith. it is the bottom of the hour. time for the top of the news. the florida governor spends the status tony for his stance on the abortion law. the reasons for the punishment and the response of attorneys. >>> the mother of gabby petito takes action and how she is trying to help gir

are under >> hbo max is a part of this discovery which is coming off of a .hey can spend what it merger they need game of thrones to bring in subscribers. amazon is in a very different business including e-commerce. they can spend what it takes on lord of the rings. the early reviews on this show are that it is very good. people have been saying somewhat surprisingly that it is pretty good. there is a lot of anticipationtm and we can see how it connects with consumers over labor day weekend. >> all of that money. you wonder how other streamers are going to compete it is a game of throne. >> that is an executive from an old-fashioned company that needs to show the process. it is a game of throne collecting. 800 carss sold fothese days. >> great to have you. thank you so much. >>> it was a blockbuster weekend for classic car collection. nearly 800 cars sold for $470 million at auction in monterey, california. one of them, this 1937 mercedes4 it has passed through several owners including the one-time king of afghanistan. that car sold for nearly $10 million. th

i saw that the show "pennyworth" on hbo max has been renamed "pennyworth: the origin of batman's butlerlaughter ] well, hbo max is actually introducing a bunch of new shows, too for example, first there's "dave: the origins of batman's butler pennyworth's friend." [ laughter ] then there's "vinny: the origins of batman's butler pennyworth's friend dave's roomate. [ laughter ] then, they have, "carl: the origins of batman's butler pennyworth's friend dave's roommate vinny's brother-in-law who's doing pretty well for himself, dude has an in-ground pool, whaaat?" [ laughter and applause and finally -- that should have been finally finally, "carl's butler: the origins of batman's butler, pennyworth's friend, dave's roommate, vinny's brother-in-law, carl's butler, who is actually pennyworth again. remember him?" [ laughter and applause it's long, but i get it. smart. you guys hear about this there's a new dating app for conservatives coming out soon that's called "the right stuff. [ laughter ] unfortunately, people will go on a lot of bad dates because they refuse to swipe left. [ laughter ]

nearly 200 episodes of sesame street have been pulled from hbo. maxg platform has been purging films and tv shows in recent weeks as it's preparing to combine with another streaming service discovery. plus, fans of sesame street say they were surprised to see hundreds of episodes mostly from the first 40 years of the show had been removed its the latest shifted hbo max following the merger of its former parent company warnermedia with discovery inc in april. >> still ahead here at 8 o'clock firefighters tending to a soon-to-be mother along a busy freeway. details on the incident coming up right after the break. >> well, it was a special delivery in the north bay as firefighters helped deliver a baby on the side of the road. this really happened. the mother and her family on the way to the hospital. but the baby just couldn't wait. kron four's gayle ong has the story. >> firefighters got an unexpected halt. >> a mother about to give birth. this was a little different be on the side of the freeway. >> the call came in just after 6.15, saturday evening.

big changes coming to the hbo. max streaming service. we're going to tell you what shows are on the chopping block and the job cuts expected. that's all coming up shortly. plus the started the new school year is just weeks away, and some students might be feeling a bit anxious about returning back to the classroom. with all the ups and downs we've faced over the past couple of years when you join us on the nine we're going to talk about the science parents should look out for and some helpful tips on how to help out children. get through those first day nerves, salt wanna help kids get their homework done? well, an internet connection's a good start. but kids also need computers. and sometimes the hardest thing about homework is finding a place to do it. so why not hook community centers up with wifi? for kids like us, and all the amazing things we're gonna learn. through project up, comcast is committing $1 billion dollars so millions more students can continue to get the tools they need to build a future of unlimited possibilities. sho

hbo max is part of warner bros.covery, which is just coming off a merger and they are under a lot of financial pressure. game of thrones needs to bring in subscribers. amazon as we all know is in a very different business. it is in the e-commerce business . they can spend what it takes on lord of the rings. the early reviews on this show say it is very good. people have been saying, you know, somewhat surprisingly that it is pretty good. there has been a lot of anticipation on how this will connect with consumers over labor day weekend. >> cynthia, all that money, you wonder how other streamers will compete. >> that is a big problem. an executive said it is like being shot in the face with money cams. that was from an executive from an old fashion company who needed to share orderly profits. it is a game of thrones, as we call it these days. >> cynthia, great to have you. thank you so much. >>> it was a blockbuster weekend for classic car collecting. 800 cars sold for $170 million in monterey, california. one of the

oh, my gosh, he's unbelievable [ cheers and applause it's currently streaming on hbo max. the late and absolutely great, olivia newton-john [ cheers ] >> jimmy: oh, yeah, oh, my gosh >> she's such an icon in australia and i just adore her you were singing "you're the one that i want" from "grease" which was basically my childhood fantasy that you got to live. >> jimmy: that was totally impromptu, by the way, it was not planned. >> seriously >> jimmy: olivia newton-john was on the show, and we were going to commercial break or something. and the roots just started playing it and she grabs the mic, and as a pro would do, she started singing it i was like, "oh, my gosh i have to duet with her. the she started the dance -- and i was like -- oh my gosh - >> you did great though -- >> jimmy: i started to cry, i couldn't believe it. i go, "oh, my gosh." >> i was crying watching it, it was very moving. >> jimmy: did you ever meet her? >> i did, years ago i did a production of "the boy from oz," an austrailian musical with another australian icon, peter allen. and i got to sing "i

move on >> reporter: the average defection rate is more than 5% this college student just dumped h hbo maxession. >> i can't afford to each and every service. >> reporter: peacock has stayed flat, while peacock's losses have hit $467 million. though the company says revenue is growing still, across the industry, consolidation is already under way. earlier this month, warner bros. discovery announced that warner bros. and discovery plus will soon merge into a single service. this family canceled four services, saving at least $30 a month. >> we much more loyal to the show itself and not as much the streaming platform >> reporter: if the pandemic with its captive stay-at-home audiences was the dawn of the streaming era, consider this the wakeup call. gabe gutierrez, new york >> we were figuring out which service we haven't used in months >> why do we continue to pay for that one you neff ver know something might come on. ten bucks here, ten bucks there, doesn't seem like a lot, but it adds up. >> and if you don't know where to find so >>> right now at had:30, a heat wave hitting the bay area

. >>> plus did the new game of thrones spinoff just save hbo max?h that story and much more when "morning joe" comes right back. republicans in congress call them "entitlements." a "ponzi scheme." the women and men i served with in combat, we earned our benefits. just like people earned their social security and medicare benefits. but republicans in congress have a plan to end so-called "entitlements" in just five years. social security, medicare, even veterans benefits. go online and read the republican plan for yourself. joe biden is fighting to protect social security, medicare and veterans benefits. call joe biden and tell him to keep fighting for our benefits. under pressure this is the man you turn to. medicare and veterans benefits. this is your difference maker. go kick the ball to mommy. hah, you see that? he's a natural. i just need a little bit more. you're making all the difference out there kid. he's america's next big export. no pressure right? pressure, pressure? pressure, pressure, pressure. pressure, pressure. so where do you think

hbo max and discovery plus are merging with parent company warner bros., promising a free service ase. it's set for summer, 2023. no word on what the new service would be called. >>> and why put mustard your hot dog when it can go on your doughnut? french's is giving away free mustard infused doughnuts on national mustard day which is tomorrow. it's happening at different dough locations around new york city or on line through brooklyn-based dough's website beginning at 9:00 a.m. eastern. >>> that is your cbs "money wtch" report for this friday morning. i'm matt pieper, cbs news, new york. >>> south korea is headed to the moon. >> three, two, one, zero, ignition and lift off. [ applause ] >> the asian nation's first lunar orbiter hitched a ride aboard a spacex rocket from florida's cape canaveral. the $180 million mission will send a satellite to the moon and look for a future landing site for a robotic probe. south korea wants to land its own spacecraft on the lunar surface by 2030. the satellite is set to arrive at the moon in december. >>> meantime, for spacex what goes up must co