i will now turn it over to assistant attorney general jonathan kanter. >> thank you very much. let's do this. renters deserve the benefits of vigorous competition. in prosperous times, that competition should limit rent hikes. in harder times, competition should bring down rent, making housing more affordable. realpage has built a business out of frustrating the national -- the natural forces of vigorous competition. in the words of realpage, a rising tide raises all ships. this is more than just marketing. it's literally the cost of housing for millions of americans. for realpage, that rising tide of rents means more profits. for landlords, that rising tide means more revenues from higher rents. but renters are the ones left to pay the price. for renters, that rising tide means less money for food, health care, child care, and education. for renters, that rising tide means less money for families to make ends meet. today, we filed an antitrust lawsuit against realpage to fight the rising tide of high rent, to restore competition, and to make housing more affordable for million

jonathan kanter from the antitrust. >> is he coming on today? he seems to come on -- >> yesterday.very other day. >> so, he'll be on tomorrow with us? >> yeah. he will be. jonathan gray is going to take a day off. >> jonathan gray does not come on very often. >> the reason why that interview is so great is because jonathan gray husbands himself. >> and he can discuss things across a broad variety of topics. jonathan kanter is much more focused on antitrust, i find. >> he must have read, what, mornings on horseback? what happened? the bull moose party? what did he read? those moments when teddy, when tr was going after standard oil and created one of the greatest value creations in history in breaking up standard oil. >> maybe that is what inspired him at the doj. >> what can i talk about right now? kellanova? >> we'll talk kellanova. let's get to the biggest deal of the year, enterprise value-wise, when you add in debt, it's $35 billion. when you do equity value, at least based on the number in the merger agreement, you're somewhere closer to 29 or so billion in equity value. that'

jonathan kanter, assistant attorney general, joins us first on cnbc, and mr. kanter, congratulations on a very, very big win. >> thank you, jim, great to be with you again. >> let me ask you, when a judge rules that someone is a monopolist, which means exclusive agreements have reduced incentive, and innovation, what could possibly be the remedy? because, how do you break the exclusive agreement? how do you get incentives and innovation started again? >> sure, this is a familiar problem, so this -- these kinds of exclusive agreements were at the center of the usb microsoft case and the court observed there, as i would observe here, that there are remedies for all things but death, and at the end of the day, what's most important is that we meet the market where it is, we reflect market realities as they exist today, and we look ahead at what the next inflection points coming down the pipe are in terms of competition and protect them from anti competitive conduct. >> mr. kanter, while google won, it would seem there's an unintended consequence here, apple, which

jonathan kanter called this historic and monumental. this is a time when we need to get serious about whether we use antitrust as a policy tool to create competition and that is where we have failed though far with half witted measures. or, continue to do something which is marginal, targeted and very prescriptive but does not deliver competition, which was the goal. the department of justice will feel that this is the salient moment to pursue this kind of aggressive. caroline: 3.5% fall in market cap share price and it is a big move on the day but it does not reflect the idea that it will be broken up. is this in any way realistic and what do you anticipate will be the real solution here? cristina: the markets never anticipate that antitrust will do much and that is the test. the outcome of this case in which the judges delivered a very thoughtful and -- a very thoughtful opinion. is it going to be serious or nibbling at the margin. i think markets are just waiting to see. of course the prospect of breaking up google is very ambitious.

we are going to hear from the doj anti-trust chief jonathan kanter at 3:00 p.m.et. >>> we will take a look at the economy and consumer confidence with the head of barclays. that's comg . ayitus.inup dave's company just scored the comcast business 5-year price lock guarantee. high five! high five! -i'm in a call... it's 5 years of reliable, gig speed internet... five years of advanced security... five years of a great rate that won't change. yep, dave's feeling it. but it's only for a limited time. five years? -five years? introducing the comcast business 5-year price lock guarantee. powering 5 years of savings. powering possibilities. >>> welcome back to "sport." we approaching the final sprint to the olympic games in paris. it is a memorable day ten for team gb. gold and silver in the kayak cross before keely hodgekinson taking gold. it was gb's first olympic track medal since the 5 ,000 and 10,00 goals in 2016. and mondo duplantis leaped 2.65 meters. he is the first to retain the gold in back-to-back olympics since the 1950s. this is the ninth time he broke the

jonathan kanter said the search market is already at its most critical inflection point in 15 years.petitors like perplexity and openai are trying to make inroads. apple is integrating chatbots into its software. they recovered on the session today, though turning lower recently. it was a major victory for the doj and did rattle investors. there's no small amount of skepticism this will result before the market itself changes or the administration changes potentially altering that regulatory landscape. more likely the greater risk for investors is that the lawsuit distracts google over time from the most important rates at hand, the arms race. the company goes to trial against the doj a second time in september over ad tech. this battle or battles are far from over. kelly,a separate development in the ad world crossing the wires today, elon musk's x has filed an antitrust lawsuit against advertising groups over a, quote, systemic illegal boycott accuses the companies of unfairly targeting the platform over safety standards. some context here, just last november he told advertisers th

. >> jonathan kanter, assistant attorney general for antitrust.t nvidia for having been really smarter than everybody else. they're looking at apple for producing a superior phone, and i think there's an article from the ftc, when lina khan was a little bit younger, talking about maybe there's a cocoa -- is that a cocoa cartel? >> says these companies are being penalized somehow for their incredible success, for executing better than their competitors and their competitive set. the other argument would be -- and i know you also share this to a certain extent -- they are so involved in our lives in every way that the size and power of these platforms, so to speak, is unrivalled in terms of, really, corporate history or until -- you're a student of this history. maybe there's a period in the 1890s, but i don't know. >> there was one when teddy roosevelt was president and standard oil had 100% of the oil market, and they did that by driving everybody out, putting flash flood -- lowered prices when anyone came in, and they wrecked every single competi

joining us is assistant attorney general for antitrust, jonathan ka kanter.s. there's a lot of speculation right now about what's going to happen to, frankly, a lot of the cases that are in play and what's going to happen in this presidential election. and i actually in an odd way want to start there. just to understand how you think about this election versus the cases that you have either brought, or the cases in the pipeline. >> yeah, thanks an andrew. it's great to be with you. for starters, i can't think about it. i don't have that luxury. i'm a sitting government official and my job is to focus day in and day out, putting one foot in front of the other, one step at a time, and making sure we're enforcing the law to help the american public. the work that we're doing, the cases that we're bring, and frankly the cases that we're winning over and over again relate to issues like health care, technology, agriculture. things -- groceries. things that are central to the lives of everyday americans. and so it's important for us to bring those cases, follow the

. >> when you go read the google case that google lost, the one that jonathan kanter came on and arguedt -- it's building up. it's kind of the crescendo, like "tristan and isolde." it's the love death, but he says, and in conclusion, they're a monopolist. i mean, no. it's like, really, it's amazing. it's like, we have had enough. america's had enough with these people. >> and it will continue to be something we discuss, because it's going to be -- and again, it's both the republicans and the democrats in some ways who are sort of coming to -- >> all trying to figure out what to do. >> -- similar conclusions. you can talk to steve bannon on one side and on the other, i don't know what the opposite of steve bannon would be. and they'll say the same thing. >> you just know steve bannon's side of things. >> he hugged me once. >> navarro's hugged me. >> he said, my brother. >> you guys are alone on that front. >> my brother. i was like, is this actually happening? >> rene haas hugged me from a.r.m. >> that was very nice. let's quickly hit disney succession. can we do that? >> you bet. i'm ge

. >> i thought jonathan kanter came in, he was fire-breathing against the pes. >> the planet-eaters.> the planet eaters. i like that more than -- hyperscaler was always meant to confuse. >> you're right. we talked about the use of language last week and who comes up with these things. i offered a few in terms of how the industry wants you to use these terms, and then you end up doing it, whether it be drawdown, which is ridiculous. you lost money. whether it be financial sponsor or even private equity, when really, you just want to say guys who do lbos and have a lot of leverage and can write off -- >> rich people do well. i said to you the other day that you want your taxes raised and that was meant to be that you make a lot of money. then it got turned into some ad campaign for trump. >> it did. >> that was impressive because my wife saw it. she's so appreciative. >> so, a lot of nice time in the household this weekend. >> fantastic. it was a game changer. >> was it? >> yeah, game changer. >> speaking of game changers, anything else that we should be focused on in terms of market a

you know nvidia is the most hated stock on earth right now, included by jonathan kanter. >> are we in until we hear from nvidia, which is a few weeks away from terms of its earnings? >> yeah, we are. the question is, is blackwell really late? can they make it up with the h-100, h-200 and then use cases? you go back to the tesla call. people hated the tesla call because they thought that elon was downbeat and elon didn't talk about vehicles, but elon did spend a huge amount of time talking about robots, and robots are run on this company's products. you can't do good robots without jensen. and they're just doing video, and jensen will be able to explain to you the use cases. >> right. >> and that's what's really hurting it is that people don't think there's any more use cases. other than servicenow, no one's been able to say, you know what? a.i. is real good for us. >> well, palantir yesterday, we felt like had -- >> palantir did, that's absolutely right. palantir had really good discussions about a.i., and there are a lot of companies that actually use it, and they say that productivi