will the time warner ceo jeff bewkes revealed a growth plan that is more viable than murdoch could haved will murdoch take another shot at this down the line? cory johnson is still with us in the studio. jon erlichman also joined. did we hear anything that gives us any indication about how he is feeling, and how they are feeling about m&a? >> he talked a lot about their business, but this is a story that will not be settled for a very long time, because this is jeff bewkes's bet on the long-term business and squeezing more value out of them. he vaguely talked about m&a opportunities, but he is using this more than opportunities to say, we like the prospects of hbo as a global business, and the cable networks, and the turner operation as a global business. we don't have to be bigger. we are a leader in a bunch of categories, in movies like warner bros.. and this is my case to you, the analyst and the investors, that of a loan is a better proposition than us as part of fox. but obviously, we talk about the stock selloff that has happened since fox pulled the plug on its pursuit. >> how do

haveould jeff bewkes engaged a little bit more with rupert murdoch?learly been a position to get the benefit of the doubt from shareholders, because as we have been highlighting, he took a strategy to get out of businesses that he did not believe he should be in. that resulted in some pretty good performance for time warner stock. but it also left him in some ways exposed to a company like fox, to sort of say, where is the game plan from here? will be pressure on a company like this. a lot of these media companies do you like there is a way to squeeze some juice from some of the new ways of consuming content. talked aeteran, and he lot about the delay structured with amazon earlier this year, which brings older hbo shows, shows at least three years old, to amazon prime service. amazon is hungry for content. hbo is happy to sell them content if it doesn't bother the pay-tv operators. and that resulted in something like 56% growth on the content revenue side for hbo year-over-year. if he can strike more deals like that, there is potentially the ability

i don't know if jeff bewkes will be able to get that stock price up. his job might be on the line. >> he's very confident. he's done a great job in breaking up the company and selling it piece by piece to begin with. we've got to give him credit for that. the thing that strikes me is time warner is three different companies. table -- theld turner table properties, which is cnn, cbs, and tnt. , which is ae is hbo completely different entity. and the third one is warner bros. studios. both television and films. two of these three groups generally do not trade in don't trade a double judges multiples. we are talking about film and film does not trade at those levels. the question is, they are running almost a 20 multiple. he was at 85, maybe 90. out there by yourself now, maintaining that multiple with those kinds of his mrs., as good as they are. -- businesses, as good as they are. i just think it is a very full bed. that stake will be there for a long time. >> stay with me as you will be for the hour. this week, this morning, wall street went back to th

explain the you peace, love, and dope to jeff bewkes?0's, rupert would have done that deal. he would have diluted his shareholders and hurt his bondholders with a downgrade. this is a new, different rupert murdoch. he's actually been working for shareholders in the last decade and the stock has done great and he decided he could not take the dilution. >> let's go to a transaction in the moment. washington will not accept a duopoly or try out fully. the president and his administration want a four-way competition, and that is what you have where sprint will not go after t-mobile. from moffett moffettnathtanson joins us by phone. what is what we need to know about the future of sprint? >> that is a tough question, because sprint faces a tough road now. we never thought this deal had any chance to happen. i cannot say i'm terribly surprised. but it seems like in the run-up to trying to deliver transaction with t-mobile, sprint all but abandoned it -- it's plan b, which is to run the business. they've got a lot of wood to chop with respect t

jeff bewkes, did a great job breaking that up company.he magazines will have to survive on their own. cable company will have to survive on its own and it was sold. crown jewel is left and who knows what will happen with that. i will say this though, this is funniest part of the story because i covered it. carl went from calling donahoe a moron, literally a moron almost, say, he is a wonderful man, like three days. something had to happen. melissa: we did all kind of wonder behind the scenes did they make agreement they would spin it off on the road. >> yeah. melissa: we talked about that. for him to make such about face, i talked to the guy he has a plan. he is good ceo. >> he was on your show. melissa: did they make some sort of deal behind the scenes to do this now. >> i got a call into carl. he yelled at me about something the other day. melissa: you're used to that. >> but i, the funniest part of the story is within hours, and it was literally hours, donohoe went from the worst ceo ever created to a great guy. >> good job, charlie. p

in fact, we thought it was very interesting that jeff bewkes, the ceo, gutsy move, i don't know if you as a shareholder if you owned time warner would like the fact they changed their by laws to prevent large shareholders from bringing this kind of merger to a vote. when that happens, and again, you're a fox shareholder, not a time warner shareholder, but how, how would you swallow that kind of move by a ceo? >> we think that's poor corporate governance, no matter whether you are a shareholder of that company or not. we like to see shareholders entitled to the procedures they've had historically and companies shouldn't just put up new barriers because they feel threatened. liz: should management at fox pursue a different type of deal now? does fox have to? or you say you like it as a stand-alone. >> fox is terrifically positioned on its own, it does not need to do a deal, it never needed to do the time warner deal. there were strategic reasons why at the right price it made the most sense. liz: that leads me to a bigger picture of what happens with fox? since it announced it was intere

but time warner's c-e-o jeff bewkes told murdoch "no thanks". fox shares dropped nearly 10 percent since the initial bid, on investor fears that murdoch would bid higher. murdoch said the share price and bewkes' refusal... were reasons why he dropped the offer. shares of sprint and t-mobile fell sharply in after-hours trading tuesday, after it was reported that sprint was dropping its plans to merge the two cellphone carriers. sprint shares fell more than 15 percent. t-mobile shares were off almost 9 percent in extended trading. it's not too late to start planning for next year's dream vacation. one travel blogger says it's just a matter of making your trip a financial priority -- with a travel fund. try setting up an account using five percent of your paycheck. if you're looking for an overseas trip, find out where the u-s dollar is strongest, to make your money go further. also, backpacking trips are a good way to see the world without spending a fortune. keeping in shape takes time, effort and sometimes a change in the way we eat. but dentist

liz: what is fascinating here is that jeff bewkes, the of course the ceo of time warner, had taken again a very defensive standpoint here, changing those bylaws to make sure that shareholders couldn't have a voice in this, could not put it up to a vote. it would have to go all the way to next june where they would be able to deal with talking about this and maybe changing those bylaws once again. but the price that was offered by twenty-first century fox is considerably higher than what time warner is now trading at. the bid, $75.28. this is going to be big news. david: that is a drop by the way of 12%. so stockholders of time warner have to consider that to realize they were getting a better deal. liz: thanks to tom and brian and larry shover. david: sorry we had such breaking news. coming up in a moment here, dallas fed president, richard fisher, he of course is one of the most vocal hawks at federal reserve but was not the dissenter at the last meeting. why was it that charles plosser was the man who dissented and not richard fisher? details direct from the source, richard fisher live

jeff just -- after bewkes refused to engage. >> is not a victory lap.r me to see how fox, with the strategy, was going to successfully take over, do a hostile takeover of time warner. they're both about $75 billion. time warner is probably a better content creator, which is the critical element you need today. better than fox. there was not anything compelling for time warner to say yes to. >> there was this idea that they were going to be back off savings. they identified $1 billion, not significant enough to make this compelling. >> do you teach synergy in your class? tell me you do not. do you let the word into your class? >> you try to figure out what you do that is distinctive on the revenue and cost side. there was not anything distinctive fox was offering. you cannot pay a big premium on price if you're the same market cap as the folks you're trying to take over/ >> did rupert murdoch mis-play this? >> maybe. i did not understand the tactics or announcing basically a bear hug. they probably should have talked to time warner privately and see if t

they have great deal of visibility in terms of outlook but so does jeff bewkes.n't let you go without asking about berkshire. you've been a long time berkshire hathaway holder. it is a book called, berkshire after buffett. when he is not running it anymore. >> sumner is 93. liz: buffett is -- >> 83. liz: 84 in a week. >> not what you're used to be. within that framework here is a company that has basically managed cash flow extremely well. berkshire at $191,000 a share is not as much of a bargain as last year we still like it. liz: 194,000 today. >> there you go. who is counting? liz: good to see you, mario. >> best for me to see you. liz: super mario gabelli of gam co. thank you very much. david: 83 is the new 60, right? liz: definitely. david: up and away for the airline industry. we'll be asking orbitz worldwide ceo how his on line travel business is benefiting from the improving economy but how it could be hurt by russia and the middle east. >>> also, want to know names of some biotech stocks that could skyrocket, at least 100%? we have details. some wall str