iac had boasted a 35-year record of success, never giving a hint of the possible shutdown. now bankruptcy court is suing the entire board of directors, and the interim director who alone collected 181,000 mpbl in salary in the months before the bankruptcy. the board president declined an interview with abc 7. but in a bankruptcy hearing recorded by the court, he said he knew the agency was struggling, that aic still accept eed payments and new clients hoping could it save the business. >> we were always reinventing ourselves and rebuilding and we thought we could do it again. >> we tlenlt you through the process and it is just gone. >> they went through five months of screenings and scraped up $15,000 to pay iac in cash. >> we refinanced our house. >> brad and andrea remain insensed the agency took their final $2,400 payment in november knowing they could go out of business in january. >> i can't. i don't have an appetite. i can't sleep at night. do i feel your pain? yes. >> the would be parents wonder what happened to the 4.4 million in revenues iac took in last year. they

iac had boasted a 35-year record of success, never giving a hint of the possible shutdown. bankruptcy court is suing the entire board of directors, and the interim director who alone collected 181,000 mpbl in salary in the months before the bankruptcy. the board president declined an interview with abc 7. but in a bankruptcy hearing recorded by the court, he said he knew the agency was struggling, that aic still accept eed payments and new clients hoping could it save the business. >> we were always reinventing ourselves and rebuilding and we thought we could do it again. >> we tlenlt you through the process and it is just gone. >> they went through five months of screenings and scraped up $15,000 to pay iac in cash. >> we refinanced our house. >> brad and andrea remain insensed the agency took their final $2,400 payment in knowing they could go out of business in january. >> i can't. i don't have an appetite. i can't sleep at night. do i feel your pain? yes. >> the would be parents wonder what happened to the 4.4 million in revenues iac took in last year. they also questio

iac, itself, up 14% today. joining us now, exclusively, iac's ceo joey levin.60%, could you have got it cheaper? heck of a premium. >> the stock reflects a few things. there's the value of angie's list and value of home adviser and value of the synergies. this would be the first public listing of home adviser, and home adviser is on an unbelievable run lately in terms of execution, growing revenue top line for seven, eight straight quarters over 35%, and it's a business in a good place right now. that's a piece of it too. people are excited. >> angie's list has not, but going in the other direction since you made that bid, what was it, a year, year and a half ago? >> yes, a year and a half ago. yeah. >> is that what led it to work this time? >> no. i think that at that time it did not work out for a bunch of reasons, and we both went our separate ways, and six months ago, they were going to pursue strategic alternatives, calmed us in the process, and we dug in deeply, and digging in, we realized potential of our business with their business we thought was enorm

iac chairs rocked it, almost 5% after hours.r might grow services after the chipmaker's latest quarterly results mostly met forecasts. some some investors were looking for earnings to come in stronger than expect it. it is a different story for tenet healthcare could the stock rallied 14% when the company reported a smaller than expected quarterly loss and said it will sell three of its hospitals to its largest rival hca. we would hear from drugmakers. pfizer and merck before the open. investors focus on the performance, one of the company's newer cancer drugs and its biggest driver of sales growth. nicole: coming up, vice president mike pence makes a late night visit to capitol hill for the health care bill. we will have the latest vote count. and how will the housing market they are under a trump presidency? we will take a closer look at that. you are watching "fbn:am," your first look at morning markets and breaking news. ♪ .. nicole: rise and shine. let's get you caught up on what is happening. the white house has armed to v

barry dillard, of iac/interactive has had many moving parts over the year. yet dillard doesn't get enough credit more making these moves. ugh iac bought angie's list, an overlooked division that prescreens and recommends profession professionals. maybe only dillard can spend 570 million drbuying angie' list as home advisor will now be it's own stand alone company. bravo. how about two, buy some additional companies to augment your core business. that what's martin marietta materials has done. these bills have transformed it from a tiny regional player to a company with businesses in every fast growing state. that's why marietta acted like a fast growing tech stock. the numbers here suggest that this company isn't waiting for the president's infrastructure plan to pass or fail, because of that genius speaker paul ryan, and there's no way this congress will every pass a gigantic infrastructure bill. martin marietta knows that and that's just fine. third very companies with exposure to the rest of the world that's proving to be their savi savior. cmi delivered

iac had made an unsuccessful hostile bid for the online review site back in 2015, but since then angie'sck has lost nearly half its value, so barry diller shows he knows how to get some bargains in this market. angie's list is up 62%, it's now a $9 stock. going into the market today it was $5. and we should look at advance micro devices, it's having its worst trading day in more than 12 years. the stock is down 23% making it the biggest loser on the s&p 500. amd's a chipmaker, it reported earnings in line with expectations, but analysts are expressing concern about lukewarm projected margins for the company has been on fire lately. the stock has nearly tpled during the past year. >>> let us start at the white house where just moments ago we got details about the president's phone call with vladimir putin. that followed budget director mick mulvaney's appearance at the daily press briefing. he laid out the details of the $1.1 trillion temporary spending bill, passionately defending the bipartisan bill and claiming funding to build parts of the border wall are, indeed, contained in this bi

iac plans cobin ambine angie's with its company.'s ten cent holdings announcing it will open an ai research facility in seattle to be led by yu dong. the market cap $300 billion. up 2% today. >>> bp topping estimate base penny as higher oil prices boost the company's bottom line. they had revenues of 55$55.8 billion. shares are higher by 1.5% now. >>> checking in on oil this morning. crude moving higher in early trade following back-to-back losses. wti below the $50 a barrel mark. it's at $49 this morning. joining us is cnbc contributor, founder of the gartman letter, dennis gartman. in terms of the bullish factors the last couple of days, it's all been on tech. what's your view on that? >> first, the big number today is obviously the apple earnings coming out after the close. what i find fascinating, if you look at what apple is earning and where earnings are coming from, services three, four years ago were one-third of what they earned in ipads. now services from music primarily are above that of the ipad and above that of the mac

angie's list being bought by iac corporation for just over $500 million. owns home adviser wants to pair the two sites up. now this deal is not a sure thing. three law firms have already announced investigations into whether or not angie's list's board breached its fiduciary responsibilities because it's selling the company for 35% below what the ipo price was back in 2011. >>> sunnyvale-based advanced microdevices reported earnings for the recent quarter and met expectations. its revenue up 18% from a year ago to almost $1 billion. so strong demand for its graphic chip. wall street unhappy. their shares are down 17% in the early going. apple reports its earnings after the closing bell. there are heavy expectations for apple. its stock has been hitting record highs of late. also the federal reserve kicks off a two-day meeting today but it's not expected to raise interest rates at this meeting. stock market off to a positive start. the annual "met gala" put celebrity fashion in the spotlight - and the internet is talking, about who delivered - back to you.

this event didn't have margaritas or mar iac hi music.tate of latinos since the election. increasing hostility toward latinos who they say have been criminalized by the trump administration. >> not just the onslaught on undocumented immigrants that were seen, but it's a complete attack on the narrative of who latinos are in this country. and i think people are angry about that, that they're being talked about in ways that are untrue. >> latino activists say the attacks have galvanized hispanics. in california, half of the 2 million new voters in the last election were latinos. >> now a story we brought you last night at 5:00. the valley transportation authority last night approved service changes and will vote in june on possible fare hikes. the agency is facing a $21 million budget shortfall. and this is the first look at a new park that will be built in san francisco, it's called crane cove park. it will be built on the port of san francisco's southern waterfront at pier 7. right near the ballpark. right now that side at illinois and 18

please explain iac. joey: the market cap is a billion dollars. with a $200 $200on market cap -- billion market cap. seed of all of this is an $8 billion company could -- a billion dollar company. expedia is one. expedia has created two public companies -- trip advisor and tree votto -- and trivago. iac, we have what will be two public companies. first is match group. we own 80% of. and then angie's home services. david: that is the most recent, big deal you have announced. home adviser is a successful company and you are doing well, but angie's list has a lot of usage, but it's been losing money. explain how putting those two things together will create something exciting? has a phenomenal business base in operating execution and angie's list is a nice product. what they have done at angie's list is have a great group of service professionals connecting consumers with home professionals. base that comes back often. when you affect into a marketplace, more supply and more demand supply being professionals, the marketplace gets much more effective.

what it has done is given a sense of value to home adviser, well above at least how investors in iac been valuing it, hence that move up not just in angie's list. wow, look at that move but also significantly in iac/interactive, quite a big move for the company, creating a company that's worth about $4.2 billion at this point. again, that is well above and they'll own 87% of it, well above where i think many investors had sort of placed their overall view of value of home adviser as a part of iac. by the way in the press release, barry diller pats himself on the back a bit, says it's the tenth publicly traded company to emerge from what was one company in 1995, of 48 million in sales and a market cap of $201 million, they've had a compounded annual return of 13.3%. hard to predict the future, i think we'll just keep going" says mr. diller. >> carl -- >> guys with all of that -- yeah, jim? >> you got to hand it to this man. do you know that angie's list, something i looked at not that long ago, the growth was absolutely -- it was so disappointing. you put these two together, you have

iac going to own about 90% of this new company.st and home adviser connect consumers to plumbers and other service providers, the new is antsy's home services. the stock jumping 42% overnight. they are down more than 32% in the past year but on the other side, iec shares rose 5% after hours, a couple of stocks to watch today when the market is open. well, the stars came out last night for new york's black tie met gala, rhianna was the talk of the night. rhianna was the talk of the night, katie perry in the whole red thing. obviously this is part of the costume institute annual blockbuster show. crazy outfits. i'm sure you have something to say. the katie perry thing freaked me out. i wasn't a big fan but what do you think? dagen: i have never been invited to a guiltiaened i will never go to one, i would rather talk to my mother at home at night then get up and rub elbows with people that don't want to talk to me, anyway. cheryl: there was some weird, weird designs but i think this is what this has become, this is so strange. lea: i

iac perhaps going to take them over.have a list i am putting together of all potential takeovers in next 60 days. some changes announced here fox news, bill shine resigned copresident, rupert murdoch said in a release, quote, this is a significant day for all at fox news, bill has played a huge role in building fox news to present position as nation's biggest and most important cable channel in history of of the industry, his contribution to channel and country will resonate are in years, jack aber -- aber naghty, they follow last year's resignation of roger ailes, and last month's departure of bill o'reilly. coming up big name republican, challenging president trump, how can he drain the swamp when his own party keeps taking shots? we'll discuss it next. when heartburn hits, fight back fast with tums smoothies. it starts dissolving the instant it touches your tongue. and neutralizes stomach acid at the source. ♪ tum -tum -tum -tum smoothies! only from tums your insurance on time. tap one little bumper, and up go your ra

. >> people said the lyrics of his songs resonated with traditional mar iac hi.ut trying something beautiful or even funny about getting relentlessly over it, having shut go wrong. >> morrissy really speaks, you know, it's so odd. he's this white guy about like misplacement and this longing for like for a mythic home. because when i go to mexico, i'm like a sore thumb there. i dress, the way i talk.the way but theres just something about it like morriy really articulates that experience. he is irish. he feels displaced. ♪ irish blood, english roots >> this is the thing about being a mexican in this country. you're never white enough and never brown enough. >> it is an issue, but i know that we are californians inherently. and i am los angeles. ♪ i've been dreaming of a time war to be in this, it's not to be painful ♪ ♪ to be standing by the flag shameful, races so partial forev forev forever ♪ >> i had never really thought about the difference between being an immigrant or refugee. on a basic, basic level an immigrant is someone who moves willingly, whereas a ref

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how code iac is helping solve arson cases. ,,,,,,,,,,,,,,,, and -- he lives in a kennel. reness >>> the bay area's got an elite brand of detective who helped solve arson fires and he lived in a kennel. >> as this national arson awareness week comes to a close, we meet one of only a handful of arson dogs in california. >> reporter: officer bill whitaker's partner is a german shepherd named kodiak. they've been a team for two years with the sunnyvale department of public safety called to fire scenes to rule out or confirm arson. kodiak's trained to smell fire starters. >> gasoline, diesel, lighter fluid -- >> reporter: kodiak is trained to identify accelerant that is just a fraction of a drop. 50% evaporative gasoline in 4 corners of a courtyard. when he finds the gasoline, he sits. >> they'll learn the odor. they get paid by toy, which for kodiak is a ball with a string and we get to play tug. >> reporter: he detected accelerant from 14 cases in the last month, like here. kodiak can do in minutes what would take humans hours or days. >> they can cover obviously a large amo

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. >> reporter: andy wood is a vp insomn iac.n this thing. >> you're a bird. >> reporter: moments later you're soaring through sky scrapeers in manhattan. >> virtual reality, a fan for wind in your hair, 360 audio, we refer to this as beyond vr. >> reporter: this isn't just virtual reality it is fusion with robotics you can see, it's pretty heavy duty robotics. the weight limit 450 pounds. that's a big bird. with a big ape as well. king kong makes a surprise appearance and he doesn't seem too happy about it. >> you can fly next to him and he'll swat you down. >> reporter: with me at the controls he didn't have to try. >> i kind of ran into his -- >> reporter: just a complicated. the cost of one of these? >> around $175,000. >> reporter: which is why they aren't looking to put them in living rooms. they're designed for science museums and other public attractions. this year this is just a trial run to show off the device, but woods says they'll soon be popping up in southern california and other parts of the country providing flie

barry diller's iac is buying angie's list. deal values the consumer review website operator at about half a billion dollars. iac will combine angie's list with its digital home services marketplace business, which is called home adviser. and create a publicly traded company called angie home services. angie's list shares up by 41%. advanced microdevices matching estimates in the latest quarter but the shares were under some pressure down by 12.5% after some disappointing growth margin forecasts. even though they raised their profit forecast for the year, it's the -- the issue that they're looking on profit margins that really hit the stock hard. >>> and tenant health care posting smaller than expected adjusted loss. the company announcing a deal to sell its acute care hospitals and related facilities in houston to hca holdings. tenet also says that all of its hospital centers and physicians will be phased back and to ensure humana's network starting next month. as a result that stock is up by 15%. >> okay. bitcoin jumping to a

betty: angie's list is being bought by iac in a deal that values more than $500,000.ors can choose either one class a common share of the common company or $8.50 in cash for each share they currently own. it would be a 44% premium over the stocks last close. the new company will be called a mgi -- called angi home services inc. yvonne: spacex is but a size satellite -- a spy satellite into orbit. it lifted off after being delayed for 24 hours because of a sensor issue. if the first time spacex has worked with the said department -- with the fed department. yvonne, some breaking news out here on softbank. talks to invest $1.4 million in communication. they have seen a surge after that demonetization move by the indian government. this would value the company at billion according to people familiar with the matter. yvonne: up next, asia's biggest lender has posted profit. we have the estimates. ♪ host: just half an hour away from the opening in singapore. betty: looks perfect. you are watching "daybreak asia." time to see how the asian markets are trading so far. , asie

iac buying angie's list. trading well below that now.ngie's list with home advisor and create a new spinoff company. 38%.ues up angie's list has been really hammered. our top story, president trump tells bloomberg he's at least taking a look at breaking up the banks. here is what he told us yesterday. >> we are looking at that. some people want to go back to the old system. we are going to look at that. we are looking at it right now. and dodd-frank is going to be very very seriously changed. did theargaret talev interview and she is with us to tell us more about what she learned. i see that the congressman is talking in washington to community banks. endis saying his bill would too big to fail finally. past bailouts?t >> this may give us an important piece of the puzzle. piecesu put all the together you got congress, republicans beginning to step up the tackling of dodd-frank. you've got president trump's team talking about the potential to follow through on something he talked about in the campaign. and you've got democrats who have sa

board of directors for the international association of chief of police and currently chair of the iac p human and civil rights committee i acp is the world's largest association of law-enforcement leaders with over 28000 members representing a hundred and 37 different countries. today we are focusing solely on religious hate crimes but hate crimes can also extend to crimes based on sunday's race, national origin, ethnicity, gender, gender identity, disability or sexual orientation. what makes religious hate crimes so malicious is the impact there spreads far beyond the direct victims and their families. these crimes have far-reaching effects on our communities, spreading fear and toxicity throughout everyone that lives in our community. the acp is discussing the challenges and broadening in facts of hate crimes for two decades when we held our first summit on the issue and develop recommendations and a guide for officer response and an investigation in hate crimes. since that time we have developed a model policy accounting concepts and issues paper on the investigation of hate crimes