john malone is getting pretty -- busy.r communications preparing an offer letter to purchase time warner cable. this is according to two familiar with the matter. you can see the movement in charter shares, a lot of people hoping that they will step over the big offer, even if it was 1.39, that would be six percent above the current price. was apremium to where it 115,e of weeks ago, in the 120 range. isnot forget, time warner also sniffing around comcast. they were talking about a possible joint bid. from what we understand, this does not involve comcast. it would be a charter-only offer. get back to our exclusive interview with aig nonexecutive chairman steve miller. we were talking about turnarounds. you think we will see more over the next couple of years. >> i really do. there have not been that many restructures recently because interest rates have been so low, money is cheap, you can borrow more to keep going. banks, with all the pressure on their balance sheets, have been reluctant to force restructuring where they

. >> john malone has described himself as the philosopher of the cable industry. out his long-term vision for the cable industry. he underscored the number of points that he has been making of late, about how he really believes that the cable industry needs to work more closely together again, like it did back in the 1990's. quacks when he was not in cable? wantsn the cable industry things -- like m&a labs. for things like branding, like business services, and -- >> out of that is the competition with new products. you haven't such an over-the-top challenge to the basic model of cable. what might employ gay bondage to vision method, might not anymore. the whole world -- what might distributionas a method, might not anymore. john think that's crazy that everybody is doing their own version. he believes the cable industry ought to have a unified front. >> what would he want to do that and? - then? what is it that john malone really wants to accomplish? couple of things. the first is the very pragmatic and simple synergy document which is that there are significant co

stay "in the loop." ♪ >> john malone is revising its bid to buy ziggo.y already, but that -- they're looking to expand the footprint in that region. long way.as come a they will become part of the s&p 500. they will be replacing teradyne. facebook stock is up 86%. if you are looking to refresh brand online,nal there are a few words you might not want to use. the 10 most overused buzzwords are responsible, strategic, and effective at the top of the list. >> i love that list. you hate seeing those words. they are used to replace creativity. >> if i am interviewing somebody for a job and they put responsible, i am going to challenge them on it. if you are passionate, save your passion. >> how about number nine, innovative. >> i don't want somebody innovative working for me. >> if you are using the word innovative, you are not innovative. >> unless you are talking about -- in the in this terms of bloomberg west. you can catch that on bloomberg. >> we are a few minutes away from the opening bell. we have a top 10 trade you don't want to miss. keep it here on

you share this tidbit by founder mark pincus from a media mogul john malone. can you elaborate?> more broadly speaking, we all look for mentors and sometimes you're lucky enough to have a mentor who will let you sit on his or her knee and tell stories and talk in detail. i think mark with malone and maybe me with david ogilvy as more of a remote mentor, more a relationship we have with books, so pincus when he worked in malone's organization could see from a distance of inside information the way malone would use math to get right to the heart of value creation in the media business. pincus has extraordinary ability to use math to see inconsistencies and possibilities in this new media ecosystem. >> product innovation is needed at young companies and large companies. zynga's new ceo used to be at microsoft and microsoft is looking for its next ceo. on these themes are you're talking about, how important is that decision of microsoft to decide its new ceo in terms of its future? >> is probably as least as important as general motors. it looks like congratulations to them. not onl

what we know so far is that john malone has run 30% of ziggo.y did make an offer earlier this week. -- earlier this year. i was rejected as inadequate. we have been talking about m&a for a long time. european cable broadband providers are attracting deals as we see more and more competition in mobile phone services. ziggo gaining 5.7% as we speak on the back of that breaking news. peugeot shares are falling as the carmaker takes a 1.1 billion euro charge. here with more is caroline hyde. exactly is the charge related to? >> the charge, they warned us in the third quarter that currencies are going to be hitting profits. down six percent as they outline it is going to be 1.1 billion euros in total and it is the weakening currencies. foreign currency moves in russia, latin america, as they weaken your getting less bang for your buck when you sell each car in that area. a one percent move in the euro will equal 80 million lost profits. it is related to foreign exchange. it is also related to worsening auto markets across the board. also, a key conce

first up, billionaire john malone could expand his european empire. global unit is in talks to take over the deutch telephone provider zigo estimates it could be worth nine million dollars. >>> american airlines adding new jets to hits fleet with a $3.9 billion order. it will be split between bombard did i air and embraer. they ordered 90 new aircraft. >>> iphone sales surging in china, claiming 12% in the market. coming before the country's largest wireless carrier, china mobile, starts taking orders for i phones. good for iphone. >>> buffalo wild wings is forming a new relationship with pepsico. it will go beyond soda and give the restaurant access to all pepsico products. >>> glow, fertility app created by paypal, was released four months ago but reportedly helped 1,000 women get pregnant. fertility they say is only beginning of list of health problems he wants to solve. [buzzer] that is today's "speed read." >> i distracted you. david: that is all right. good news for the company. lori: and for women around the world. trying to get knocked up. dav

charter and its backer liberty, john malone's liberty have been working six months to try to buy timest is examining three potential scenarios on a deal with time warner that could include a full takeover bid. this is what we'll have to watch. comcast no comment. time warner, no comment. charter, not immediately available available for comment. as i notice noted they have been with backer liberty have been trying for six months. we'll see what comes up. comcast weighing three options. we heard in the low 130s, 135. but this will be a big story tomorrow. david: we'll see if it happens. thanks, nicole. liz: they want that much but it has run up so much. david: they do. we're hearing a lot about deals being made but they never kind of jell, the sprint deal for example. we'll see what happens. >>> stronger than expected economic data sparked speculation that the federal reserve's bond-buying "bonanza" may end soon. >> the important question for you and your money how do you as an investor play the eventual fed taper? jack howe, baron's editor. this is complicated question with no simple a

liberty groups john malone bought 37% off charter earlier in the year.., he already has the largest amount nation of cable assets, and charter can be the lead for him to gain market share in the u.s. that is one big driver. the second big driver is that if you look at performance at time warner cable, it hasn't been that good. in the last quarter, they lost subscribers, and they missed the earnings targets. and looked like it is a pretty good target, and a very good asset for charter to acquire and expand its footprint. >> see just described a from a business. why is that a good asset to acquire? telecomar to the industry, we will see in. -- consolidation in the cable industry. even though i lost subscribers, the combined charter and time warner cable entity will have a lot of synergy. about $1 billion in cost savings, and a lot more market power in terms of negotiation with content companies. >> to that point, what is going in the underlying business of time warner cable? described it as a crummy business, that is only pat -- partially right. tv as is w

let's go back. , john malone is on the hunt. he owns 30% of ziggo. what will he pay? the deal is fully priced at this level over 33 euros. unlikely they will up the bid. if that is the price they're talking about, ziggo confirms tomlinson talks officially with them. back to. >> thank you for that roundup. as we had to break, follow us on twitter. >> we will be back in a couple of minutes. 20 more to come on "the pulse." >> welcome back to "the pulse." let's talk about the company news we are focusing on this morning. apple is sending a medical team to a chinese factory operated by run -- pegatron. to haveworkers are said passed away in a short time without saying how many, the group said they make apple iphone 5c's. thee antitrust settlement, obvious offered to settle in the key pencil requires minor changes to win the galatians approval. the regulations approval. on clear has prices -- montclair has prices exceeded 20 billion euros shares. back to you. >> we are talking cars. falling this morning as the carmaker takes 1.1 billion euros charge that will had to -- hit

. >> liberty global trading flat controlled by john malone talks to acquire a dump broad band providerier liberty was rejected. >> facebook rising more than 4%. in the replace teradyne s&p 500 as of the close of trading december 20. a vote of confidence to facebook which met s&p's requirements after achieving one of profitability. cisco falling nearly 2%. reiterated today that a slowdown in emerging markets was a phaeupbmajor reason it issed first quarter revenue expectation. >> hilton climbing nearly 9% as returns to the market in its largest -- in the largest hotel ever.. billion and is offering shares at $20 each. trading, e close of s&p here we are at the close of trading. this is the weakest level we have seen since december 7. the second day of triple digit losses on the dow. we had a pretty steep decline yesterday. a third day of losses for the market. we will get in contact with julie hyman. there has been economic news. there is not a lot of bad news in general but there seems to be some concern that perhaps the good stuff will result in a taper. >> yields have gone up today i

john malone, ziggo and global, discovery, may they want to make a play on sni.t do they have in common? borrowing money. seems john malone heard a bell ring when it kams to the 10-year, cheap money, still out there, get it almost free. get it done now. he already has been borrowing a great deal. >> it's the story of the earth. cheap money. >> oh, it me. i keep forgetting. let head over to the bond pits to rick santelli at the cme group. take it away. >> thanks, david. a two-day chart tells you everything you needed to go. pay attention to the pattern. the pattern is rising states. pretty steady. if you look at the 10-year bunds, 10-year guild, whether you look at the 290. these are japanese government bonds, a ten-year maturity. it doesn't have handlethere's no 1 in front of it or 2 or 3. there as a not in front of it. it's not decimal point 66. 66 basis points. though the pattern is what we call a rounding bottom on rates. you really want to pay attention to this. if i was to show you france, same and if i were to show you canada, similar. there's own one day w

and i think it all comes down to john malone and liberty media. controls 27% of charter.feel like we're going to definitely see some deals. i know he'd like charter to take over time warner cable. whether or not he can make that happen, i think we'll see some john malone-related cable deal this year. >> do we think there's the possibility of a tech company partnering up or merging with an old line media company? >> you know, it's possible, but i think what we saw this year really didn't play -- we saw intel try to move into the sort of tv distribution space. i thought it was interesting intel weren't trying to break up the bundle. and at the end of the day, it didn't work. trying to sell off all of those assets it created to sell pay tv. i'm a little more skeptical about that. certainly google, apple, they have the resources, but i don't know if it would really go through. >> how about the bezos buying the "washington post" type of deal. are we going to get more of that? where the guys after making all the money go back and now buy the content that's depressed in price be

with john malone. >> i would reduce that to screens. ,hether it is cinema screens think of the screensrgest cinema operator in the world, china, u.s., what will they do when they can link post greens and advertisements? now think of the cable platform. it is geographic reach. >> excretes and small screens. tom connolly, thank you. up on "surveillance" cloudy with a chance of storms. confidence disparities between the haves and have-nots. ♪ >> good morning, "bloomberg surveillance." friday the 13. stephanie ruhle joins me with scarlet fu. it is time for our single best friday the 13th chart. >> this economic outlook chart looking like the confidence between the top, those who make at least $50,000 and bottom income groups, less than 50,000. you can see they were similar during the recession. we have circled it for you. after that -- actually, the circle does not show up. that you can see. the gap has widened dramatically throughout the recovery. the problem here is that the middle to lower income group is a true driver of consumer spending and therefore economic growth. they determine t

again, backed by billionaire john malone. shares reached as high as just about $139.ower, bill. we'll keep an eye on those twc shares. >> there it is. up about half a percent at the moment at $132.76. we'll keep an eye on that as we head to the next hour. sorry, breaking news as we head toward the close. don't forget, tomorrow we'll have coverage of the jobs report when it comes out at 8:30 a.m. eastern time on "squawk box." in the meantime, second hour of the "closing bell" with kelly evans and her all star panel. i'll see you tomorrow. >>> and hello and welcome to the "closing bell." i'm kelly evens. still no santa claus rally. maybe it'll come later this month. the down december continues. now down all four days so far for the month. five consecutive days in total here. here's how we're finishing the day. looks like the dow shedding about 68 points. just under half a percent on that index. nasdaq off by a tenth. s&p 500 giving up seven points. 1785 is the level there after we punched through 1800 just a couple of trading sessions ago. let's bring in today's "closin