we should take a step back in case you are a john malone watcher.iberty interactive will own 100% of hsn and qvc. they also own minority interests in expedia, lending tree, a vacation,rest in a timeshare resort company that they own. this continues to be a morphing company. it falls in the empire of many other companies that john malone controls. talking liberty media, liberty broadband, liberty global, liberty stars, liberty venture. this is one of those myriad of companies that malone owns. within them, there are further tracking stocks. there is a qvc group that hsn will fall in. that, aadd zulily to company that liberty interactive but a couple years ago, as liberty interactive, greg maffet and john malone tried to move away from that. vonnie: it is amazing looking at liberty interactive trying to find securities and takers. there are many. we will have to talk more so you can more about his businesses. i find them fascinating. we will get inside of president donald trump's meeting in hamburg with the russian president vladimir putin. we will he

it is not clear what role john malone would play.a is looking for alternatives with sprint, not just wanting to negotiate solely with t-mobile. emily: sprint shares spiked on the news. t-mobile also up slightly as well. what do you make of that? cory: their sitting on so much unutilized spec growth. they just do not have the money to deploy. they have already borrowed so much money. they want to take that and build out a network. they do not have the cash to do it. a friend in need is a friend indeed. i'm sure they are looking at anyone who has deep pockets to fund that growth. emily: talk about what you think is masayoshi son's greater game. >> they thought they would be able to merge the companies and repeat in the united states what he did in japan by buying the third-largest carrier and making it into a competitive player. he has not been able to accomplish that with sprint. i think he is for some sort of exit from the business. maybe part now and more later. they are two of the best dealmakers in the country and will not provide

john malone's liberty qvc is , the amountf hsn that it already does not own.r of north american research paul sweeney joins us from princeton for more on the deal. explain to us what is going on with the deal. i look at the numbers and it is creating the third-largest e-commerce company in the united states. aul: this is really an defensive move by john malone and liberty to consolidate its two home shopping companies, the two dominant players in that side of the retail business. as e-commerce has grown, as cord cutting has reduced the pay tv households that typically watch the home shopping network's and qvc, these dynamics have created a challenging environment for these networks. sales growthn slowed dramatically over the last several years. what we are seeing here is john malone the saying let's bring these companies together, let's create some scale on home shopping side of the business, so we can perhaps compete better with some of the e-commerce sites like amazon and walmart, and we can reinvest more into the e-commerce side of their business. scarlet:

billionaire warren buffett and john malone talk about investing in the wireless company. $10 billion to $20 billion. the loan would put additional according to people familiar with the matter. it would dilute the state currently held by softbank. rupert murdoch may have to wait until next year to find out whether the u.k. government will allow his 21st century fox to buy the rest of sky. karen brady does not plan on pushing the deal to parliament ahead of its recess next week. it would not be able to start until september. that is your business flash update. scarlet: let's head to san francisco on more reaction to the sprint news we just reported and a wrapup of the biggest tech headlines as of late from snap to uber. >> technology that covers uber companies, they try to get john malone to them best -- invest $22 billion. >> it has not been at the top of the list of his best investments. this is a company losing money. it slips to fourth place in the rankings of u.s. wireless companies behind t-mobile. verizon, at&t, and t-mobile ahead of it. it has just not gone well. he

>> reporter: yes we know all the players are here and we mow that john malone has been taking meetings he's been having them behind closed doors and we saw them arrive what we expected going into this week in sun valley is the telecos, the at&t, verizon and sprint are the ones -- those are the ones that have the most pressure on them to make moves now that at&t is buying time warner that deal, of course, pending, there are a lot of questions about what verizon is going to do to try to differentiate its pipes. discovery ceo david zazlov talked to us earlier in the week about how thereby pressure for the telecos to bundle everything together, to make sure if you're selling cable and internet service you'll be selling wireless which is why we've seen comcast and charter have these talks that they are having right now with sprint. the reason why sprint would be interested in bringing in money from warren buffett is so it can better compete with at&t and verizon. a huge infusion of cash from warren buffett would make a big difference and really allowing them to add customers without having

john malone is involved in the transaction. he is a significant shareholder of charter, and the question is, does he want to get in bed with softbank and all the issues with that company? emily: does softbank have the capital to pull it off? son has been very creative. he closed the vision fund with oftial capital commitments $93 billion. he says he wants to take that $200 million. in japan, the banks have lots of cash. they are offering negative interest rate to lots of borrowers and they are able to lead. softbank has been a solid that in the past -- a solid bet in the past. they own a stake in alibaba that is right now worth over $100 billion. if there is a weight -- a way to extract that capital, they could go after charter and put together a deal. enormous and have a lot of risk built into it, but it seems like they would be able to get the cash. shake upw would this the ecosystem? >> this would be a big transaction. there are four wireless players in the u.s. that is one too many. pressure been a lot of with wireless in t

in fact, one of those companies, starz, controlled by john malone, so the same player here.the other case, the other shareholder for alliancegate lionsgate needed to cede some voting control but became the largest holder of a shares in the combined a structure. that is probably a template looked at by all three companies right now, as they decide how to do a deal. but it is more than just the voting control issue. the price of course is a major issue. scripps and discovery have had talks at least twice before in previous years and did not get to a deal, in large part because the price wasn't there. now you figure, if viacom is really putting forth a major threat here, another offer to discovery, if there is some sort of bidding war situation here, john malone is not known to emerge victorious in bidding war situations. he likes to get assets on the cheap. so that may be another hurdle here if there is a major threat with viacom. it's possible discovery, even if discovery makes the most sense as the buyer for scripps, could back down. julia: not looking to overpay for this. g

. >> the hard part with that is a company like charter that's not quite john malone -- i don't know that they would have had the likes of this -- which hasn't proven a strong u.s. spread to yet with sprint deal. they could in theory try to use that deal, but officials -- say this was supposed to be about the internet of things commands that teachers have -- i'm not sure buying charter are a hundred billion dollars or something would have other -- things with investors. >> impose a good question. is he trying to do something more with it -- >> i don't think it's quite clear yet. charter put out a statement, they were there but they don't want to acquire sprint. bigger picture here -- cable industry and the wireless industry, increasingly combining in a lot of ways. think about your smart phone, 8-90% of traffic on there is your wi-fi, but it company, not wireless company. we will start to see more and more these combinations. we are already seeing comcast and charter looking to resell wireless from verizon at work -- the cable industry in the wireless history are pretty soon going to be o

wall str says the telecom company met with billionaire investor warren buffett and separately with john malone regarding a potential the details are unknown, but the report noted that buffett could put mo into a transaction. bloomberg also reported buffett is considering vesting as much as $20 billion in shares jumped to $8.55. >>> anthem is suing therapeutics for alleging the drug maker lied about patient's diagnosis so it could receive reimbursements. they said the scheme cost them more than $19 million in p payouts. they have been und ongoing investigations for sales and market prakties. anthem shares were up a penny while shares fell 5% to 12.15. >>> astrazeneca has remained tight lipped on a report that said the ceo was planning to stay in his role at the company for the foreseeable future. this news contrasts with earlier reports that the chief xhexecut inteva. astrazeneca rose more than 4%. shares of teva down roughly 4% at 31.90. and shares of a ten networks fell after the company shook investor last night with its preliminary result. weaker performance in its north america and japan m

shareholder met here in sun valley about an investment with warren buffett and suddenly met with john malone broad band is the largest investor charter communications, the talks are still preliminary, but could see buffett's berkshire hathaway way put more than $10 billion into a transaction. sprint is under pressure as it faces growing competition from its much bigger rivals at&t which is in the process of buying time warner and verizon which is working to dif wrennuate with its yahoo! and aol acquisitions now renameded oath an infusion of cash would help sprint to better compete it would impact the range of negotiations it's been having. sprint was in merger talks earlier this year with its larger rival, trk mobile, the two companies b tabed those talks in may, so sprint could negotiate with charter and comcast. potentially selling stake or making a deal to allow them to sell sprint's wireless service as part of their cable broad band bun ls. now, with the pending acquisition of time warner raising questions, folks here including discovery ceo have talked to us about the fact they think mo

which, you know, i think is one of the rationals for looking at this >> john, meantime, i think john malones something like 28% of discovery what do you think he has in mind here >> well, john is always, literally the smartest man in any room he's incredibly strategic thinker. he's always playing chess while the rest are playing checkers. my guess is he's looking at this as the beginning of something bigger, perhaps involving his liberty properties, charter communications, the distribution side and maybe the, you know, the lionsgate starz combo he put together a few months ago. i think you want to look at this as a long game and one of the early moves in john malone's chess match because he does think way ahead. he's tax e verse, anything that happens out of this combo will not result in a large capital gain for discovery communications if it passes. >> and barton, does this lead to other mergers in this category you know, there was talk that viacom is also interested in scripps. what are we going here do you think? >> well, look, i think it makes more sense for scripps and discovery to com

scripps network by the scripps family, discovery by john malone , and viacom controlled by the redstonesh and stock component as my sources are telling me, both sides will have to figure out exactly who controls the votes here. those can prevent major competitions to a deal getting done. i'm sure that's what the advisors of these companies are working on right now. ♪ ♪ vonnie: welcome back to "bloomberg best." u.s. crude oil inventories fell more than expected, giving hope to producers and investors that global stockpiles could shrink and prices rise in the second half of the year. it is still a complicated. -- complicated picture. 's had spoke -- head spoke with lumber -- with bloomberg. opec spoke with russia . will they achieve the cuts? guest: it has been reasonably successful. for the month of june, the latest date of which we have reliable numbers, it looks as if the compliance rates have slipped a little. we will have to wait and see what they decide. opec is responsible for its own decisions, and we are observing it just like everybody else. reporter: i know it is extremely diff

that cable mogul john malone with the carter communications.he meeting possibly about investing in spring. the talks are preliminary. all of this according to the journal report. since comcast has been in exclusive talks about an agreement that would allow them to reach a wireless service under their own cable brand, merger talks with t-mobile. >> that could be a major deal. cheryl: sprint with regard to prior during gamble. >> investor with the plans with 3.3 of alien p&g stock. the move would make p&g with the market rally of 22 billion the largest company to face a proxy. it would mark a new milestone with the biggest u.s. companies in recent years after five months of discussions when they reject the demand for trained to name the director last week. lea: let's talk about movies for a second and tv shows. reporter: most people were up late watching "game of thrones." hbo's website was no match for the "game of thrones" fans last night. hbo's website crashed during the seventh season premiere. people who tried to watch a man got an error mes

john malone own a lot of the entities.with a cash and stock component as my associates are telling me, both sides will have to figure out exactly who controls the boats. those can present major complications to a deal being done and i am sure what the advisors of the companies are working on right now. ♪ vonnie: welcome back to bloomberg best. inventory sales further than expected this week. giving hope to producers and investors that stockpiles could shrink and prices rise in the second half of the year. it is still a complicated picture. 's neil atkinson discusses the outlook for oil. >> next week, opec will meet with russia. are they going to achieve more production plants? >> we don't know if that will happen or not. what we are sure about the moment is that although the opec agreements and not opec agreements has for the six-month in a whole as it has been operating has been reasonably successful. for the month of june, the agreements haslatest data for wt reliable numbers, it looks as if the compliance rates have set

and billionaire john malone set toes interactive is put hsm under one roof in a 1.3 billion dollars dealeal. when it comes to market, it is not just tech stocks.

would we see some of these free radicals, which is the term john malone used for some of the smalleredia companies? will we see them get together? this discovery/crips deal is what the market was anticipating to take place. high quality cable companies getting together to get more scale. vonnie: they are pay $90 a share, assuming a hefty chunk of debt. 34% premium. is it a good price? paul: it is a full price. before you factor in any synergies. when you put these two gary similar companies together, there will be a lot of synergies. they're in marking $350 million of synergies over the next couple of years, so that will bring the multiple down. it will be a creator for the shareholders. discovery shares are down 5% of 6% in the early trading. mark: paul, let's talk about charter. japann is well known in for having inquisitive boots. he has them back on again, paul. he's eager to make inroads into the united states. but some investors are hoping that he would be deleveraging as far as leveraging. paul: i don't think this is what investors in japan were looking for. this is to the ext

i don't think john malone, the controlling shareholder of charter, has any interest in doing that transactionk and saying softbank, parent company out of japan might be making an acquisition of charter. i think what he is trying to do -- one of his biggest assets is sprint, a damaged asset, the fourth wireless carrier in the market, the smallest of the big four. combining with a landline cable companies seems to be in his mind the way to fix that asset and bring sprint into a competitive position. i think this will be a difficult transaction to propose, much less to close. >> is sprint off the table? paul: it is never off the table. if you look at the three and four carriers, sprint and t-mobile should merge. assets tod pull their be a more competitive competitor to verizon and at&t. jonathan: do we have any idea what he wants the company to become? often find this company's name in so many different stories across different stories and i think, what is he doing. paul: for the sprint asset, he is simply trying to shore it up. one of the ways to do that is combined with a strong cable company.

john malone controls a lot of these entities.ry controlled by malone and viacom controlled by the redstone family. if a deal is done with a cash and stock component as my sources are telling me, both sides will have to figure out exactly who controls the votes. those can present major complications to a deal being done and i am sure that is what the advisors of these companies are working on right now. ♪ ♪ vonnie: welcome back to "bloomberg best." i'm vonnie quinn. u.s. crude oil inventory sales fell further than expected this week. that's according to the international energy association. giving hope to producers and investors that global stockpiles could shrink and prices rise in the second half of the year. but it is still a complicated picture. iaea head of oil industry and markets neil atkinson discusses the outlook for oil with bloomberg's francine lacqua. >> next week, opec will meet with russia. are they going to achieve more production cuts? >> we don't know if that will happen or not. we have to wait and see. what we ar

shareholders this was approved by the scripps family puts the scripps family now back in business with john maloneho they own cable systems with years ago. with the newhouse family who they were partners in the newspaper industry and also at the end of the day the family like me believe this was the very best home for our employees. the opportunity for our employees and our brands to do things with them frankly that we would have clalchallenges based fact we don't have the international infrastructure it's the best deal and the best partnership. >> the thing that makes -- >> can i ask one more question though >> financially -- >> go ahead. let me ask synergies. $350 million is the number you using. frankly, a lot of people think it's low, david. it has to be a key driver. >> we think it's low we did a short diligence period. that's what we have our hands on now. it's a one over one company. we do a lot of the same things but when we look at this the thing that is really attractive is not just the cost synergy you put in this cost synergy and we think it should be higher, you get -- we're buying th

after the chairman held conversations with warren buffett and john malone about investing in sprint accordingon familiar with the matter. we wanted to mention gap as well. jpmorgan added it as a top specialty sector idea, raising its target to $27. jpmorgan dropping, toning down outlook for loan growth. wells fargo reporting a drop in lending that surprised some analysts. joe: let's take a look at the government bond market. .ield ending the week low were inflation data was saw. retail sales data was kind of saw. you see 10 year yield down to 2.3%. quick look at the intraday. that tells the story. a fairly pronounced drop on the inflation the data -- inflation data. julia: just in line with what joe was saying, setting the tone . the dollar trading at a 10 month low. nowave repriced 40% chance of a rate hike by the end of this year. week, or a a tough positive one. dollar-yen, trading, you have to watch what is going on in terms of levels. sterling trading at a nine-month high. actually the u.k. looking at relatively more hawkish now in terms of central banks. cap, off the back of what canadi

john malone's liberty media, they may be investing in print, 10, 10 to $20 billion. with that talk, it gave a boost to sprint. melissa: i can't believe with new record banks would end lower. you have to like banks if you like the market. nicole, thank you. >>> it has been a huge week for oil, ending up more than five%, near two week high. getting a boost today from the u.s. dollar which fell to a 10-month low. charles: all part of the bigger picture. with stocks soaring to new highs nicole is talking about, one big name in investing world jim grant, who has been sending up investing flags. listen. >> there is more risk than rewarded in this market with stocks at current levels are worrisomely high. interest rates are absurdly low. we are unreasonably complacent with respect to the capacities and judgment of the federal reserve system and central banks generally. and i say, that now is a great time not to be caught up in the crowd which has to invest as if by compulsion. connell: ah-ha. with us forbes media chairman, steve forbes. former investment banker carol roth.

she will have john malone as a major shareholder.ee how she works with that. has a big shareholder, the founder of easyjet. she knows a bit how to navigate around that. still, some disruption that faces -- that she faces up a new company at itv, and lots of challenges there as well. , thank you.kt brexit talks are set to get underway once again in brussels. david davis is seeking to make progress on citizens rights. this comes as the british government faces increasing pressure. joining us now is the global head of asset allocations. draw myrexit front, you attention to the strong performance of some u.k. assets in the wake of brexit, notably stocks, those with substantial earnings of course. how much of a distraction is all of the infighting amongst not just the conservative party, but the u.k. political establishment at the moment? guest: the wheels of this process, it is a massive element of improvisation in the way this is proceeding, isn't it? i am encouraged by the kind of shift in the government's position. it looks like a roo

lot of interests from shareholders including the 20% shareholder liberty media and its chairman john malonehas no interest in pursuing a hostile deal to require charter. it is likely that he's to move on masa is intrigued and in f intrastructure of charter, it attracted verizon to discuss the anthropologi possibility of buying charter last year. finally why masa maybe showing strategic flexibility and pursuing a merger partner for sprints. his action is receiving by some as having a hint of desperation, given his talks of merger partner t-mobile have not really gone anywhere. tyler. >> how would you handicap the likelihood of a deal actually happening here what you just described sounds like a five cushion bank shot. >> that's a good one i think you are probably right it is unlikely, however, masa to the extent that he knows he's got to do something for sprint is willing to try to do a lot of thing and a lot of shots but however they run and actually go in i would never discount it completely he's an extraordinary determined person it makes it unlikely charter is out there right now and the

consumer or have more leverage with cable carriers what happens is up to the scripps family and john maloneho controls 30% of discovery's shares other big media news story hitting this morning, at 7:00 a.m., nbc news is launching a new show on snapchat called stay tuned. the shows will be two to three minutes long posting new episodes at:00 a. 7:00 a.m. and p.m. and breaking news updates that's in combination to the 15 other shows that snapchat runs nbc hired 30 people to work full time, it will cover national, international news, politics and pop culture. this follows nbc universal's investment of 5$500 million int snap in its march ipo. nbc universal is cnbc's parent company saying it would launch snapchat shows to build on the success of the olympics snap channel. for nbc this is an opportunity to reach younger viewers and advertisers targeting them for snap joe, back over to you. >> all right zaslav, ken lowe is still there. he was out there in sun valley >> yep >> those guys -- >> ken was there along with zaslav >> they have known each other for a long time. >> they had the same talks

john: you talk about using your legs and positioning. she used her legs, she got position and boxed him out. that's moses malone stuff right there. >> tom: upstairs. they throw behind the runner and he is back. >> john: this is a busy place. i like it when they might not hit me a ball for three or four innings. >> tom: a swing and a miss. two outs. >> mike: okay. you get that kind of fastball right there, what's the deal with the 3-2 slider to the guy leading off the inning? >> tom: to a right-handed hitter? i don't know. >> mike: down and in off the plate. >> john: you're the smart one here. you went to college, right? >> mike: not harvard, though. >> john: how many years did you go three? >> mike: what do you mean? you don't think i graduated? i graduated early. i got all my credits. it took me four years and one extra quarter to get out of there. >> john: so you are the smart one. >> tom: what was your degree in? >> mike: business administration. >> tom: john, you have to get him involved in the cheese steak business. >> mike: by the way, i'm working on an appearance for you now. you may not even know about