let's not forget that iger came in and just criticized chapek.ho put chapek in there and groomed him and went into streaming and cut the deal with fox. >> we know, bob iger. >> he's a quality ceo but i'm glad you have fresh eyes there and hopefully something happens. >> that's what i thought joe meant, the fresh eyes. >> the put can come and be financial, the put can come from the perspective of fresh ideas. >> he's active. >> josh, go ahead. >> i'm team weiss on this one. i don't think we've had the washout yet. i think there's a little bit of amnesia here. nelson peltz already fought a proxy battle with disney and the end result, the stock dropped 25%. it lost a quarter of its market cap after peltz backed down. why did he back down? because iger laid out a plan to reduce costs by $5.5 billion. mission accomplished. they've done that and shaved $5.5 billion in annual costs. didn't matter because to steve's point and to joe's point, there has to be transformation here. that's the thing hanging over the stock. nelson peltz doesn't have a crack at

he said that iger need execute on his promises.e then iger has done the job cuts and also announced had he is looking to take espn direct to consumer and he is exploring selling the company's linear networks. he also reportedly that they are looking at options for the company's struggling india business and espn made a big move into gaming. and disney last month announced that it is doubling its investment in its parks division. disney says it that not no comment on this news and we are waiting for an additional announcement from trian. >> and is this is incredible to. the proxy fight ended on our air on the heels of that iger interview. but the stock to your point has been an underperformer. it is down 2%, 2.5% since the start of the year. 13% the last 12 months. what will it take from a market perspective to see if shares of disney get reignited here in the market? do we know yet? >> i think that there are two things at play here. what will it take to make nelson peltz satisfied that iger is following through on his pro promises.

iger?ough for his part peltz can say i can be his ally and get change to happen more quickly. that's conjecture on my part. we'll watch of it, because it is two high-profile people in the form of mr. peltz and iger it will in disney. up a bit to uds. >> nomination window opens december 5th. >> i believe so. then you would go to the meeting in the spring. this would play out over some period of time. we'll be watching. no more really to share at this point in terms of who would be on that slate, for example. >> which is critical with a universal proxy which you can pick and choose which slate goes on to the board. >> great point. >> general mark kimmette, former secretary of state under george w. bush his read on the growing inusel-hamas conflict when he jos next. we're back in a couple minutes. >>> uniquely american. it was initially created as hispanic heritage week by lyndon johnson. later it was extended into a month by ronald reagan. it's a unique opportunity to celebrate our diverse se

we'll be talking about a multinational company and bob iger.isney ceo went from being a representative for creative's to an avatar of everything wrong with the education industry in 2023. we will have all of that ahead. this is bloomberg technology. ♪ use it to set and track your goals, big and small... and see how changes you make today... could help put them within reach. from your first big move to retiring poolside - and the other goals along the way. wealth plan can help get you there. ♪ j.p. morgan wealth management. when you automate sales tax with avalara, you don't have to worry about things like changing tax rates or filing returns. avalarahhh ahhh an ever-changing landscape comes with challenges. from our vantage point, we see opportunities. as a top-ten real estate manager, we harness the power of a 360° perspective, delivering local insights and global expertise across public and private equity and debt. our experienced team and vast network uncover compelling opportunities giving our clients an exclusive advantage. principal asset

iger? is there any chance that nelson peltz gets a board seat?e would be the biggest share shareholder, but not big enough to warrant a board stake. these things have a habit of gaining momentum. the habit of developing momentum particularly if the investor is putting forward a tangible plan for driving shareholder value. you mentioned, joumanna, the problem here is the stock is underperforming. it has performed for some time. it is incumbent on the company for shareholders to create value and reinstate dividends. >> they paused dividends back during the pandemic. that will be a big question mark for investors. let me ask you about streaming and the challenging with streaming. we have netflix earnings this week. that will be a bellwether for the sector. what are you watching out for there? >> i'm looking for more messaging around content spend going into 2024 because that's the variable cost which they have control together with marketing. they have less control over sub is de growth. the other issue is advertising in general will remain soft. th

i could see iger making more progress with the balance sheet.ion of hulu can be bought without reaching. that's the reason why we brought this to the travel trust. but it was a mistake for me to believe in disney when it was trading in the 180s. it was a mistake to keep giving bob chapin the benefit of the doubt when he did next to nothing to earn it. in the end, even the best franchises can't overcome cash flow shortages. disney's ill-advised purchase of fox should have made me cut and run. made it a broken stock for multiple years. now it is far more important than the franchise itself. even when they brought in better management, it took time before the business kept turning around and the stock kept going lower for the better part of the year. no matter how fantastic a company might be, do not fall in love with its stock unless you give serious consideration to its balance sheet because when the balance sheet is bad, it is like marrying someone with horrible credit. you will be paying for that mistake for ages. do i think disney will come ba

the stock is down since then, but bob iger has announced a slew of changes.ment, and we are awaiting official announcement from peltz about the plan. >> julia, thanks. to julia's point, sort of peltz stood down the first time, them watched the stock do nothing even though this plan was enacted and now is i guess thinking enough is enough, time for more action. >> presumably. the cost of get back involved has gone down as the stock has declined. i don't think anyone has the impression there are three orrive five obvious things to be done to reorient this business that aren't being done by bob iger. more of a say of change the pace of some of the strategic moves on the table. it's been an incredibly tough area of the market. disney hasn't been immune to the bigger pressure. >> deirdre bosa, we're waiting for the analysts to start weighing in following the ipo. about six weeks ago, i guess. >> 25 days to be exact. that's how long the banks who underwrote the ipo had to wait in order to publish research. now that's out. they're rating the stock a buy. all of them

in fairness, i think bob iger by committing $60 billion to theme parks has completely sidestepped thessue of what about the core content business and it's not growing, but he's not cutting costs. so shares are up today of disney over 1%. i think that's deserved. i think these activists do the world and do shareholders a service by forcing ceos to focus and the investor timeframe which is a year. what are they going to do to cut costs or prove that they can do this faster in the core media business >> what do those moves look like and would you bring that into proportion or would you have splany fronts. >> the issue with the revenue line is it's out of his control. we have strikes. he push said off a whole movie for a full year because he thinks he can't market without actors like promoting him. so they're pushing off the content which will hurt their revenue in the near-term so he can't really, it's harder for him to affect the revenue line with cord cutting and with the strikes strong do with movie releases, so he's got to cut costs. that's the only thing bob iger can control in disn

peltz dropped the battle after bob iger unveiled corporate reorganization and meaningful job cuts.ced he's exploring selling the linear networks, plans to take espn directto consumer and disney last month announced it's doubling its investment in its parks division. disney had no comment on this and we are awaiting an official announcement from nelson peltz. >> julia, appreciate that and we'll talk about what that might mean for the media giant in the days to come. so much headed our way in the next few days, ppi, cpi, fed minutes, pepsi, black rock. >> bank earnings. >> bank earnings. >> earnings season in general. >> but the situation in israel is going to cloud a lot of that, what was already a crowded week. let's get to the judge and the half back at post nine. >> thanks so much. welcome to the "halftime report." i'm scott wapner. the week ahead for your money, inflation date, kick off to earnings season and now new geopolitical risks to consider. our investment committee on the case. joining me for the hour, josh brown, joe terranova, jenny harrington, steve weiss. check the m

iger has dialed down the content fire hose, if you will.g new content but the amount of marvel and star wars series is far lower than in the past, which lowers your cost, helps their financial situation. iger said they'll be reaching a profit by this time next year. they are probably on track. if they can lower the cost of content to a more reasonable level, you can see how that comes together. >> quick thought, michael, would you view a spinoff of abc, the stations, the network, as a stock positive? and what about espn? >> it's a very complicated question. i will try to be straightforward. we first and foremost believe in the power of the disney brand and that includes everything from the disney films and television product through streaming service and the parks. we are 100% believers in. when we look at general entertainment, and that could include hulu, abc, but it is very intertwined, we do think the company needs to take a hard look how much they need to invent. asset x or y gets trickier because some of that content is intertwined an

he's had enough he's not convinced by the reorganization and cost turnaround plan by ceo bob iger soagement increase the stake in disney to two and a half billion dollars and they want to bid for multiple board seats including one for nelson himself according to the wall street journal. stuart: i wonder if he wants to get rid of bob iger. >> i been reading he has not been not dramatic in his request this far. stuart: dramatic okay. read walgreens, pharmacy is there a strike. >> there could be the pharmacy workers, the technicians, they might walk out between today and wednesday according to several reports. why, overworked they're supposed to fill prescriptions but now the required to administer vaccines as well they have to ring up your order when you're at walgreens. a lot of people get online at the pharmacy to buy toilet paper and not anything that the pharmacist would help with. they are set up the most workers across the country are saying enough is enough. stuart: look at the bottom right-hand corner of the screen. check the big board, look at this on a day with a war in the m

earlier in the year bob iger announced plans to cut 7000 jobs and shrink the annual cost by five and dollars, he also pledged a massive 60 billion-dollar investment in disney's theme parks and cruise division. but there are expectations as well that the dividend payments will resume by the end of the year. the future would also likely involve a yard sale for disney assets potentially a much talked about the dying tv division included a portion of espn and maybe abc to be sold and by the way disney becomes a leaner company which it appears to be heading toward, it would ramp up the speculation of a potential buyer coming in, someone say apple, that would be a blockbuster deal. >> apple has the money to. >> they certainly do, just speculating. this is for you, taylor swift eras tour had the opening weekend i imagine an overwhelming success. >> anything to do with taylor swift is good to be a rollicking success domestic ticket sales topped 95 million that may be updated tomorrow it was short of 100 million-dollar predictions but mighty impressive. already the film has shattered records

we're getting a first look from disney ceo bob iger about actual numbers, and it looks like the company first nine months of fiscal year, we're looking at revenue declining 1.3% to $13.2 billion. he said he doesn't want to sell the network. you've got amazon joining a list of supposed suiters many talks with disney for an espn streaming partnership. what happens with espn? >> you know, i think that the linear broadcast guys, you know, fox business included, i think that they really misjudged how badly streaming was going to hurt them. and i think that, you know, the guys who create, you know, dramatic original content, dramatic and comedy shows, were really dumb to license that stuff to netflix because what that did is it created a whole generation of people, my daughters among them, who will probably -- [audio difficulty] so e espn is wearing the brunt of iger's decision to license this content9 to netflix for the last decade. and i don't know how that reverses. we've got to train consumers that there's real value to a cable subscription, and that's why it's so important to keep sports

you know, obviously bob iger spoke on cnbc in that sort of epic david faber interview from sun valley several months ago, you know, talking about sort of how they're going to strategically shift, you know, are they keeping espn and abc? they are obviously buying hulu soon for comcast, probably for a much bigger price than the $9 billion disney would like. this is a pretty important strategic asset to disney, it's hard to imagine it's not a $13 billion, $14 billion number to comcast. so, what do they do with hulu, how do they fold it into disney+, what happens to espn? whether or not disney focuses on what they're good at, which is family entertainment, or they try to be much, much broader and try to take on netflix globally, i think that's still the big unanswered question facing iger and the -- disney, over this next 12 to 18 months, that investors are really trying to figure out. and look, it's why disney's stock is at a, what, 12 or 13-year low, i think people are really struggling to figure out, what does disney look like in one, two, three years? what's the earnings power where i

successful face you can argue i didn't make the same mistake when i told you to buy disney when bob igerned how did that work? the charitable trust has been hurt by that we tend to underestimate how long it will take them to fix the new problems with disney i'm still confident iger's the right man for the job, but man, it's taken a lot longer than i expected wp with dollar general we know most retailers have been having a miserable time and it's likely to get worse before it gets better the fed won't stop until they finally make real progress slowing the economy and we're definitely not there yet not after the gdp number we saw this morning bottom line i think dollar general could do better than it otherwise would have done now that todd v a. vasos is in the driver's seat. you need to be incredibly patient. put in a small position here and wait for a significant pullback. you'll probably get one. before you buy more. because you know what? this is one awful market let's take calls let's go to charles in idaho charles. >> caller: jim, boo-yah! >> boo-yah, charles. >> caller: and jim, i'm

of children, the answer was this: we won’t give numbers, hamass acted like terrorists... the banned igerver, the audience did not expect evidence, it just needed to think more often about the fact that the enemy is a monster in human form? a person who is used to, let’s say, living in a position of doomscrolling, yes, that is, just scrolling through the feed, he cannot check any news or any video that he sees, well, that is, simply because of that huge flow, that’s who -a truly good person, us reported on the same program. where they write about dismembered children, here is the fighter sakhal with a white dog in his hands preparing to defeat the enemy, which is like waving the tail of the dog wagging the legendary film, let me remind you that in order to save the reputation of the disgraced president of the united states, a group of professionals filmed a whole series of staged television reports about the war in a non-existent country, and the main symbol was a girl with a kitten in her hands. by the way, about american television, cnn correspondent clarie ward conducted. half of the d

the mayor of the latvian city of ogre, igers, helmanes again decided to promote himself in ukraine, andft he brought two minibuses, which supposedly businessmen from ogri chipped in for, and here ’s what’s remarkable, on the sleeve of the latvian next to him. which the terrorists who fled from the chechen republic consider their symbol. another example, a driver was fined in riga, who dared to place a symbol of so-called russian aggression on his car. this is exactly what the emblem of our aeroflot was called in the official police report. a claim to the hammer and sickle, as well as to the civic position of the latvian. he refused to remove the sticker, for which he will now have to pay 300 euros as a fine. in general, soon russians in europe will begin to be marked with special signs. unrest in poland, where parliamentary elections ended yesterday, the election commission reports the highest turnout since 1989 of the year. more than 70% of voters came to the polling stations. the votes are still being counted and the ruling kaczynski party of law and justice, which leads the country,

your boss, bob iger, described the strike as demands, is very disturbing, not realistic and is cominga mistake? oh, i'm not here to question bob's choices at all. i think there's a recognition for all of us that a lot of people go through a hard time for a long time. and i think that the best thing that's happening right now is that people are back at the table, that people are talking and getting. and i 100% believe there's going to be a fair deal. disney's faced challenges over its 100 years now, with streaming subscriptions falling and cinema going still patchy, it may need a little more magic as it heads into its next century. katie rozelle, bbc news. a glimpse of gaza and what it's looking like at the moment because we have continued to hear and see some instances of explosions there in the region but it is a story that we are continuing to track as troops continue to gather along the border and this is a big story that we are tracking on bbc news you can find all of these updates as you can see on the bbc news website as well and do get all of your updates on that and that is it

bob iger had to return as chief executive, he had a stent where he was not a boss for a while, but hely. they are facing _ disease has had recently. they are facing -- — disease has had recently. they are facing -- disney _ disease has had recently. they are facing -- disney has i disease has had recently. they are facing -- disney has had. i are facing —— disney has had. global conflicts. it was enough with ukraine war and now there is another war. they were basically exiting the tv business, there are existential questions about the streaming model. there is the act to strike going on, the writers strike going on, the writers strike that went on for a long time. a sagging stock price. 0n ease about succession. then there is these political minefields that disney has found itself mired in in the past. maybe year, year and a half. i don't know if i missed anything! there is a lot. this anything! there is a lot. as ou anything! there is a lot. as you say. — anything! there is a lot. as you say, there is an awful lot going on. and yet we all grew up going on. and yet we all grew up with

. >>> and later, nelson peltz is not giving up on bob iger and the turn around at disney. we will have more when "worldwide exchange" returns. heat makes it last. feel the power of contrast therapy. ♪♪ so you can rise from pain. icy hot. no matter what you're up sagainst, rise from pain. we have your back. we are united way. we are neighbors helping neighbors in communities around the when disaster strikes we get you back on your feet. we help children build brighter. we've been here for over 135 s but now our work is more . join us. join your neighbors. join united way. no matter what you're up against, we have your back. we are united way. we are neighbors helping neighbors in communities around the when disaster strikes we get you back on your feet. we help children build brighter. we've been here for over 135 s but now our work is more . join us. join your neighbors. join united way. no matter what you're up against, we have your back. we are united way. we are neighbors helping neighbors in communities around the when disaster strikes we get you back on your feet. we

. >>> nelson peltz gets help in his fight against disney and ceo bob iger. >>> and after a whirlwind 72 hours, general motors is the lone holdout and they are paying a high price. >>> it is monday, october 30th, 2023 you are watching "worldwide exchange" here on cnbc >>> good morning welcome to "worldwide exchange." i'm frank holland. hope you had a great weekend let's check on the u.s. stock futures after the worst day for the dow in four weeks and worst day since august futures are in the green looks like the dow would open up 140 points higher. nasdaq .50% higher investors waking up with a lot to chew on for the week. 30% of the s&p 500 reporting earnings just barely a tick below last week where we should hit the earnings season by the end of the day today. names of berkshire and mcdonald's and caterpillar and apple reporting. also the bank of japan rate decision and the uk rate decision on thursday all that capped off with the october jobs report on friday. ahead of that, we are looking at the bond market. ten-year yield at 4.85%. the two-year yield above 5%. 30 30-year yield abo

he said that the stock has been very bad and if bob iger doesn't like that, that's like empirical evidence at least we got news today they're raising ticket prices by almost 9%. >> how do you like that? the theme parks are unbelievable, and i am told that nelson believes the theme parks are worth the price of the stock and you get all the other stuff, but you know, obviously, bob iger's, i think, working very hard to bring out some value. but i don't know if it's hard enough or fast enough. >> that is the question. and if mr. peltz does choose to challenge with not just a directorship for himself as he continues to want but for potentially a slate, it will be an interesting battle. >> why wouldn't you let him on? don't you need fresh set of eyes? >> they don't feel like his expertise adds to the board. that is what i think disney has said. >> david taylor didn't in procter, and then he liked it. >> they believe some are good. >> heinz didn't like it. there's three for three. >> peltz has a track record. >> unilever liked him. what's disney's problem? the ceos of these companies have told m

i thought bob iger was going to bring the back i'm disappointed with him because he is not doing thatre, tesla they released an updated version of the model y in china. it has improved configurations in the same starting price apparently which they kept unchanged because of the competition. i want to move on to this. taylor swift has a movie coming out this month, the errors to to her, i understand beyoncÉ is doing the same thing. that's a huge increase in revenue leveraging off of the concert performance. you can charge a fortune. >> imax, what i see not only your going to get the people that went to the concert. i've been to both of them and i went to the counter and experienced it in the people who went to the concert and reexperience in the imax technology nothing like being there, nothing like being an outdoor and feeling the energy of the crowd and when you're in an imax theater the technology captures the feeling of being surrounded by sound. you can have a lot of people that cannot afford seven or $800 to go to taylor swift in a few hundred dollars to go to beyonÉe and those p

what it means for both disney and its ceo, bob iger. plus keybank seeing an opportunity in one beaten down sector. why investors should, quote, close their eyes and just buy utilities. that is coming up. >> but first, let's dig a little deeper and further into today's market action. as you can see, it's generally negative, but we did see a little bit of slight positivity at one part today and the dow industrials down 0.1% and well off the session lows and the s&p 500 4303. at one point we were up five points for the s&p and down 25 roughly at the lows so you can see it is toward the upper end of the dra day trading range and the nasdaq composite the laggard down one-third of 1% and 13,383 for the composite trade. the unrest in the middle east is carrying through for many key parts of the market and a couple in particular are standing up to the upside, crude oil prices and possible supply concerns in the middle east and that's leading to upside moves for oil and gas companies like halliburton and marathon oil. you can see they're north o

in the media and driven by deals, which was never the way this company has been, especially for bob igerto be one of the great negotiators, at least in his sector. to the extent that this -- i don't see this as a major strategic sell, i see this as maybe remaining focus on what they have to do. i don't think this changes the game. if we were talk about selling all espn here and now -- and that at one point was seen as a major catalyst to the stock, and now seems like part of the core offering. i don't think this is all that big a deal. i think it shows disney is looking at everything, but trying to be more efficient within the structure. >> we also have the reports recently, guy, of exploring the sale of abc, and that's what i was thinking of when i was thinking of asset sales to slim down and refocus. >> i don't know if you're a fan of "yellowstone", but there's a term called circling the wagons when you're in trouble, and i think that's what's going on at disney. maybe it's the right time to do it. the stock made a ten-year lower. the bounce might be the market saying they're finally g

during an earnings call, disney ceo bob iger said they'll address the issue in 2024.omes after netflix says its shutdown on sharing helped it add nearly 6 million new subscribers. now with the actor's strike putting hollywood on hold, studios are hoping to keep revenue streaming. joe fryer, nbc news. >> hot topic. >> i was just last night literally haas night looking at a bill going wait a minute -- >> where did that number come from? it's hard when your favorite shows are different platforms and you feel like you need them all. >> we're free, by the way, always watch if you're not on the network right now, watch us on streaming, nbc news now, it's sometimes, the lows of bipolar depression on streaming, nbc news now, it's free, go to feel darkest before dawn. with caplyta, there's a chance to let in the lyte. caplyta is proven to deliver significant relief across bipolar depression. unlike some medicines that only treat bipolar i, caplyta treats both bipolar i and ii depression. and in clinical trials, movement disorders and weight gain were not common. call your doct

this stock has bottomed until we get some actual answers to these big, strategic decisions that bob igergood news is i think he's the right person to make them. the better news is none of this is new, and all of that negativity is in the stock. but i worry. technically, it is -- look, you get two upgrades like that on a day like today, and the best this stock can do is a buck and a half, it just tells you that it's a heavy, heavy stock. i did figure we'd get into the 70s. it hit 79 and change, and it kissed that level for, like, five minutes. if you were on line for popcorn, you missed it. i think i'm going to get a better shot at it. i want to buy it. i know the difference between 75 and 82 is not that big of a difference, so if from a long-term investing perspective, so what? but i think it's going to get that washout moment at some point. rsi got as low as i think about 40 the other day. i want to see it truly oversold before i can say, all right, i don't care if it goes lower, i think the sellers are exhausted. i don't think we've got therein yet. >> joe. >> i feel like we could have

during an earnings call, disney's ceo bob iger said they'll address the issue in 2024.y plus. it comes after netflix said its shutdown on sharing helped add almost 6 million new subscribers. now with the actors strike putting hollywood on hold, studios are hoping to keep revenue streaming. so how can you save some money? you can look into subscription bundles. either through the streamers themselves or through your cell phone or internet provider. keep in mind, many price hikes are for premium tiers, so if it is too costly, it might be a good time to downgrade. another thing experts say to look out for is shrinkflation hitting streaming. they say while prices are going up for a lot of the services, the viewing options likely won't change, they could get smaller, so make sure you're not paying more for less. back to you. >> or just accept the ads and pay a little bit less, right? don't have to watch the ads. joe fryer, thank you. that's going to do it for us today. thank you for being here. i'll see you tomorrow, same time, same place. until then, i'm ana cabrera reporti

activists upping a stake in disney and upping the pressure on bob iger. >>> and later, oprah doing an about-face. the media titan just couple weeks ago saying taking obesity drugs was taking the easy way out. today, she's changing her tune. the details, the connection straight ahead. i'm melissa lee, coming to you live from studio b at the nasdaq. on the desk tonight -- tim seymour, karen finerman, dan nathan, and guy adami. >>> we start with the major market turnaround. rebounding and rallying to close up 200 points on the day. the s&p 500 closing up more than half a percent and the nasdaq surging 52 points, all as investors shake off the war in israel following the deadly hamas terror attacks over the weekend. crude and brent popping 4%. biggest gains since early april. gold up more than a percent and a half, and the defense sector moving higher. airline, travel-related names suffering. major carriers including united, delta, american, suspending service to tel aviv. the late-day rebound coinciding with commentary coming from fed speakers. steve liesman will be along shortly with al

bob iger, david zaslav, donna langley, and ted sarandos this comes at milken estimates that the hollywoodion in economic impact, and experts are warning that the cost to the industry couldn't just continue, but actually could accelerate if the actors don't get back to work. goldman sachs saying, quote, we expect that previously announced 2024-25 films could move dates as hollywood prioritizes ramping back up certain productions over others going into 2024, and this all depends on why the actors' strike is resolved. so, we're going to be listening very carefully in earnings calls for any commentary on the cost of the strikes. we'll hear that the media companies have saved on production, but we're going to be listening for impact on tv advertising, as well as, of course, box office revenue. >> yeah, so, what is sort of the window in which they have to resolve it in order to get that summer blockbuster slate out there? >> there will be movies next year though matter what. if you look at what it costs to finish some of these big films. some of them may be somewhat done, some may need a couple

this includes bob iger, david zaslav, and donna langley from our parent company., we're told the parties will work internally over the weekend resuming talks on monday. >> you know, we remember that drew barrymore was in hot water here. even though the writers strike is over, we understand three of her lead writers have decided not to return. can you tell us more about that? >> yeah. three of the show's co-head writers were offered deals to return, but declined. listen. >> five months off and we are back. i've got a show to do. >> reporter: as tv studios open their doors again following the months long writers strike, the drew barrymore show facing another production setback. forced to return without its head writers. sources close to the show say offers were extended after the strike and all three writers declined. the drew barrymore show now interviewing new writers to fill the top positions. >> the fact that there are hurt feelings here, leading to senior writers to decide that they can find opportunities elsewhere doesn't surprise me in the least. >> reporter:

ceo bob iger condemned the attacks, saying the company will continue to work to find ways to support the region and to help those affected by the war $1 million is going to an organization working on blood bank services. the other million is going to groups that focus on helping kids. and there may be tough conversations for parents and kids as it relates to this war. we want to make sure you have helpful ways to approach the topic on our website. we uploaded a full page of ideas of videos and workshops to get the conversation started. you can visit abc7 news.com/take action new developments in the effort to elect a new house speaker. >> gloria another vote is supposed to happen soon. >> it is reggie. abc news is reporting that house republicans are expected to vote again tomorrow to elect a new speaker. it's been nearly two weeks since kevin mccarthy's his removal and congress has been in a state of gridlock ever since. all potential legislation or funding for israel or ukraine is on pause until a leader can be elected. representative jim jordan is putting his name forward once agai

i will stay -- i will say that donna lange who was here yesterday, donna and i and bob iger and david says love have been at the table with sag and we had productive talks going, they kind of work would happen last night is they introduce this basic levy on subscribers on top of the steel which in each of the areas of the deal which is in the statement, you see historic highs in terms of increases across the board and we had offered a success-based bonus meaning we completely wrap our arms around the idea similar to what you had for the right -- -- >> select what you had for the writers? >> very similar. it would cost four to five times more to implement at sag because the number of people. that was rejected in the counter was this levy on every subscriber and prior to that was a levy on revenue. >> basically the union will take a certain amount of money for every subscriber to a service? >> correct. it was originally to every penny of revenue. we said we agree we could entertain a success-based bonus which led to this transparency issue we were able to get to where we would share the

ceo bob iger condemned the attack, saying the company will continue to work to find ways to support theose affected by the war. $1 million is going to an organization working on blood bank services. the other million is going to groups that focus on helping kids. there may be tough conversations for parents and for kids as it relates to this war and we want to make sure you have helpful ways to approach the topic on our website, we have uploaded a full page of ideas, videos and workshops to get the conversation going. you can visit abc7 news.com/take action. >> new developments in the effort to elect a house speaker. gloria another vote is expected soon. >> it is reggie. abc news is reporting that house republicans are expected to vote again tomorrow to elect a new speaker. it's been nearly two weeks and since kevin mccarthy's historic removal and congress has been in a state of gridlock ever since, all potential legislation or funding for israel or ukraine is on pause until a leader can be elected representative jim jordan is putting his name forward once again. ahead of tomorrow's vot

the idea that it might be iger, that it might be chapek, doesn't matter. the stock is down big. if we were in anything else say in sports, what have you done for me lately? absolutely nothing. i know that there's blowback when you say listen, the stock is awful. but, you know, you are what your record says you are. >> well, at least we got a sag-amptp meeting and they'll meet again tomorrow. another joint statement. people take that constructively. >> yeah. i think that that -- i understand when you see a stock down that much you buy it. you want to know what's wrong. >> how about tonight? >> carmax. they rarely due tv. and then damond john from "shark tank" who invests in a lot of companies and have great vision at all times. kept me in apple when it was at 30. >> see you tonight. >> thank you. >> "mad money." 6:00 p.m. eastern time. an exclusive with the ceo of mgm, first on air interview since the company suffered the cyberattack last month. stay with us. hey you, with the small business... ...whoa... you've got all kinds of bright ideas, that your cust

i keep thinking that apple -- remember, he was in the presentation for the vision pro, bob iger. >> heartner? >> they conceivably -- you brought it up a number of times. they could be for espn. it's unclear. i haven't heard much in terms of updating where they really are. >> we don't know. >> they've got kevin mayer and tom staggs both in there helping to advise on kneesthese kinds o strategic opportunities. they've got day jobs, too, but they are in there as well. >> at least we got another meeting with s.a.g. tomorrow. >> with the actors, yeah. finally, guys, just real quick, i did want to add, horizon-amgen is closing tomorrow. we followed this deal very closely. >> it's a very good deal for amgen. >> it had importance on the antitrust front, unexpectedly fascinatinged opposition from the ftc, they did reach a settlement, which didn't require much of amgen because it wasn't planning on bundling anyway. that's going to close tomorrow. next two to three weeks is what i'm hearing. pfizer, in terms of complying with the second request, and then of course, we're also probably days if not

>> i'm not involved but it makes no sense to me why bob iger would want a fight.his hands full. a transition to streaming, the linear business, you know, under a lot of pressure. you know, probably too much leverage. why he wouldn't embrace nelson and want him in the boardroom, doesn't make sense. >> that seems like nelson's -- it's a lot of different fundamental ideas -- >> i don't think anyone knows exactly what this is going to look like as the business evolves. however, i think you would want nelson in the room with you helping you navigate that transition. i would guess that if he did that, nelson two or three years from now would be his closest adviser. that's my personal opinion. and i would advise him to let nelson in the room. >> so far that doesn't appear to be happening. always good to catch up with you. look forward to hearing news from you as well in terms of this new view of activision. >> thank you. >> before we hand it over, i want to take a look at shares of vf corp. they're up double digits, at least they were. it was as a result of presentation

that's what it's like without me, but i did think that iger is lifting his head, starting to put together. >> it's still coming. the whole plan. >> work in progress? >> i think so. i think particularly on espn. again, i sort of have said many times, the abc idea that's noncore sure but will that really result in any kind of transaction? very difficult to say. >> look at that. oh, no, don't look at that. i told you he's going to boeing me with the disney. >> there's a -- >> why did you buy it, jim? >> there's a line about reliance in india. we got -- at least we got the actors talking again, starting again tomorrow after two weeks of nothing. >> yeah. they're back to the table. we'll see if they can finally get to the finish line like the writers did. >> i was going to mention netflix, but once again, i would hear, jim, where were you? i'm going to skip netflix. >> i like the idea that i'm always in your head. >> you are always in my head. >> guys, you know, we should take a look at shares of apple, and speaking of newspaper stories, this is "the global times." >> paper of record. >> it's

more streamers are expected to crack down on password sharing during an earnings call, disney ceo bob igerthe issue in 2024. the company owns hulu, espn plus and disney plus. it comes after netflix says its shutdown on sharing helped it add nearly 6 million new subscribers. now with the actor's strike putting hollywood on hold, studios are hoping to keep revenue streaming. >> with these prices going up, how can people save? >> yeah. so they are subscription bundles that are offered sometimes you can get through the streamers or internet or cell phone provider. just keep in mind, and this is important, that the price hikes are often with the premium tiers, so if it feels too costly, maybe you can down grade to one of the lower tiers. the other thing to look out for is shrinkflation, so the prices may be going up, but the as much ass but the viewing options may be the same or might be getting smaller so know what you're getting for what you're paying don't pay more for less. >> some streamers will let you if you have ads or something, it's cheaper >> exactly, a compromise you can make >> it'

. >> when bob iger was interviewed by david faber over the summer with plans, a lot of people said whying all this so publicly? why announce he is thinking about this or that? >> or the assets are not good? >> or before landing the plane on actually making an agreement or deal or this or that -- this is why. i think there was an expectation if not perhaps the knowledge that nelson peltz was sitting in the wings or another activist would come or the best defense is to say what do you want me to do? i said i was thinking about it. strategic options are on the table. everything is on the table. that is the defense you would make to an activist. whether it is a persuasive defense is up to the market. >> it worked for a while with peltz. nothing has happened. >> the stock popped. >> when is snow white and the seven mystical creatures coming out? >> i don't know. >> i don't know either. >>> when we come back, latest on the battle with hezbollah and hamas with israel. we will have sue gordon next. you with catch us any time a nd take it with you on the cnbc app. we're coming right back. all t

. >>> also check out a tweet from bob iger, pointing out that this is the 100-year anniversary of walticially founded the disney brothers cartoon studios. so, there you have it. 100-year anniversary. >>> joining us in the markets right now, we want to bring in ju julie biel. she's a cnbc contributor, and she has a particular pet peeve. julie, i'm going to say something, and you go ahead and go off on a rant about this. hey, earnings have been surprisingly strong. we had a lot of beats last friday. >> yeah, i mean, if i hear it -- it's always heard for probably the last four quarters, wow, earnings have been surprisingly strong. the consumer has been surprisingly strong. i don't think anyone should be surprised, guys, when you think about the level of stimulus that's been pumped into the economy. but i think going forward, it's hard to say exactly where the growth is going to be coming from, but i think what you want to be focused on are businesses that have quality earnings going forward, and that are protected in terms of being able to price against their goods and services. i think w

michael: bob iger came back at 90 bucks, and it's been painful for me.e is what i think will happen. 2024, they have to consolidate disney plus. netflix in the 20's. to me it's about streaming profitability in 2024 and they have to get hulu in-house. i think that will happen by the end of the year. i think this is your meta in 24. a year ago, people were killing the stock. disney could be a great stock in 24 but you need streaming markets up to a level where people start caring about. katie: it's interesting to hear the conversation because you are still a buy on disney, but to meditate on your netflix, comments you are still neutral on the stock. what would bump you up to a buy? michael: earnings numbers. valuations are pretty full, compared to google, alphabet, meta. it is having faith in numbers that are above consensus. i think we all have the same numbers now, we have modeled what the companies have told us. no reason to doubt it, so we are just debating multiple. people don't have an edge on earnings. our numbers are where consensus is. meta and ot

campaign i'm not sure they would still win the campaign, but puts more pressure on the board and on bob igerhen we come back, israel began what it is calling phase two of the war against hamas over the weekend we will talk to james stavridis. "squawk box" will be right back. . enjoy richer, bolder flavors complete with velvet smooth crema. now brewing peet's coffee. when you need to prepare for unpredictable adventures... (gasp) you need weathertech. [hot dog splat.] laser measured floorliners front and rear. [drink slurp and splat.] (scream) seat protector to save the seats. [honk!] they're all yours! we're here! hey, i knew you were comin'... so i weatherteched the car! can we get ice cream? we can now. kid proof your vehicle with american made products at weathertech.com. ♪ is it possible to fall in love with your home... ...before you even step inside? ♪ discover the magnolia home james hardie collection. available now in siding colors, styles and textures. curated by joanna gaines. >>> israel lauvlg launching phase two of its war against hamas striking 450 targets over the weekend, with

jonathan: what to think bob iger was doing them? same, come to me with ideas?ood advice from 18 he built up over the sub years prior to 2018. you can tell he had clarity and what they were doing, and if they stuck to it, maybe it would have been worth less than what it was in 2018 but it would have been a great 50-your business. now it is strategic well over the place. what about a&e? there are businesses they don't have clarity around. tom: nobody in my house is watching disney+, they're glued to netflix. lisa: how much of it is a demographic issue? tom: candidacy survive on the kids? brian: there is a direct relationship between share of viewing and sure of content. if you spend more on content, you get more viewing. if disney doubles the spending on actual programming, they will get more viewership. lisa: when you have consumers that say, i am not going to pay for that, have we seen anyone breached that? or is this, skies the limit and we will pay $1000 a month for entertainment? brian: you are hitting on things like thought were obvious in 2018, but the poi