zillow for sale by owner let's round things out with roku and the stock is up 10% and let's get to julia boorstinhi, julia. >> melissa, that's right those roku shares down well over 9% despite the company reporting faster than -- higher than expected revenue and that number growing faster than expected and the stock did plum oat the company saying its advertising business has seen higher than normal cancellations and saying that while its ad business will expect to grow and they're expected to do so at a slow are pace and the pandemic is slowing and roku's internet ad growth and the upside of reduced budgets are that markers are looking to spend efficiently which highlights the value of roku's ads and the company is well positioned to take share from linear tv ads and the company revealing that it's on acceleration of new accounts in april with streaming hours of 8% last month and this after incremental accounts with streaming hours of 49% over last year in the quarter and he believes the pandemic is accelerating, and that shift will be permanent and for now, the ad revenue growth is just not wha

during the pandemic homemade and shot from home content is getting the 15 minutes of fame julia boorstinis here with a hollywood star cashing in on the new craze. julia? >> that's right. the star is john krasinski with a deal of "some good news," the homemade show broadcasting on youtube for eight weeks. this subscription service will be the first to air the show which will be produced by john and have a different host. sources tell me that a flood of offers came in from digital and traditional content platforms, the appeal of the concept even without him hosting speaks to the growing value of content to be made quickly with a low budget and how ever streamer and network facing delays with production stoppages apple tv bought the rights to a podcast turning into a limited series starring paul rud and will ferrell and investing in more original podcasts to be turned into tv series. back over to you. >> i'm surprised this landed with cbs all access. i thought maybe a better fit or apple tv or something like that. does that speak to how much they're willing to pay how many subscribers are o

president trump taking issue with his favorite mode of communication, twitter julia boorstin's got theails. hi, julia. >> well, melissa, a conflict between the president and twitter all started when for the first time twitter flagged two of the president's tweets as potentially misleading the president claiming the mail-in ballots would be, quote, substantially fraudulent which draws an alert from twitter saying get the facts about mail-in ballots which directs users with more information about these claims twitter telling cnbc saying these tweets contain misleading information about voting processes and they have provided additional context around mail-in ballots. trump responded by threatening to shut down social media outlets. twitter has shown that everything we have been saying about them and their compatriots is correct big action to follow trump also tweeting that social media companies should clean up their act. twitter shares did end the day down nearly 3% back over to you, melissa. >> julia boorstin. >> should we be concerned about that quote, unquote, big action to follow, g

heating up hbo max joins the party tomorrow and a huge summer for the space and let's get to julia boorstinwith the details julia? >> that's right. hbo max launches tomorrow with a deep library of moves, as well as six new original exclusive shows. though the service will be free for current hbo subscribers, it will cost $15 a month which is $2 more than netflix's most popular plan and more than twice the cost of disney plus. i asked the chairman of entertainment and about the service's timing and price >> we're always going to be a little concerned and we didn't expect this pandemic to be hitting us at this moment in time, but we also really feel good about where hbo has been in this marketplace for so long at this price point and what we're really giving people is all of the hbo service, but twice the content with all this new additional content and so we feel good about the price point. >> greenblatt pointed out that there's more demand for content right now and the fax that hbo max is offering more content at the same price point as the current hbo service. despite production stoppages

julia boorstin with the latest on universal show of hands, guys, we're all parents here who would go to a theme park the week of june 5th when it reopens wearing masks, washing hands, taking -- all those things okay >> you're laughing, guy. >> would you, mel? >> no. no, i would not. i would err on the side of extreme caution. you're talking to somebody who spent five months indoors not venturing outside until just a month ago. guy, why not >> for a myriad of reasons, none of which i want to get to at this time, but most severe of which because of the fear factor, without question i'm -- i just wonder if it's necessary in place and is it enough for me, there's no compelling reason to go and wait online for an hour and a half for pirates of the caribbean and i can put on netflix and check out johnny depp myself in the comfort of my own home. >> so that said, we are all here in agreement just on "fast money" and only speaking as individuals, we would not go initially at this reopening, so does that make you less optimistic about a disney or a comcast, let's say, steve grasso, if you tho

now julia boorstin with the ceo himself and my guess is you tell people to wait five minutes for a ridet disney they'll probably show up. >> bob chapek relatively new ceo of disney said they're encouraged by the early demand that they're seeing for the shanghai park and plan to add cautiously 5,000 tickets to capacity every week. he didn't comment on when they expect the other disney parks the open >> we certainly want to open up as soon as we can across the world but we are going to do so in a responsible way so we're excited for our guests, we are excited for our cast we want to get our cast back to work as soon as possible so this is a first step. it is a baby step and we are moving slowly but we're very encouraged by what we see in shanghai. >> chapek also weighing in on the next theatrical release "mulan" after a movie intended for theaters "art misfoul" on disney plus in june. >> we believe in the theatrical experience especially for big blockbuster films. it fuels the company from consumer products to theme parks to disney plus and so we really think that that's the smart way to

. >>> welcome back let's get to julia boorstin who has a very special guest, the ceo of disney. lia? >> morgan, thank you so much i'm joined now by bob chapek, disney's ceo thank you so much for talking to us us this morning. >> appreciate it really appreciate it it's a pleasure to talk to you, julia. >> so, bob, we've seen the video of disneyland shanghai opening, operating at less than 30% capacity, but we've seen there's demand from your fans. can you give us a sense of what bookings are looking like through the rest of the quarter and what you're expecting in terms of attendance at this park, looking into next quarter? >> well, shanghai is what we call a short book market where typically most of the tickets for that week are sold within the week as you know, we're significantly constraining the amount of tickets that we'll sell and we're pretty much booked out for the rest of the week we have a few tickets available on certain days, but essentially everything is gone this is really indicative, i think of the love that consumers have for our brand across the world. i get count

. >>> let's get to julia boorstin who joins us with the president of live nation julia? >> jon, thanks so much i'm joined by joe, president of live nation fresh on the heels of that company's earnings thanks for talking to us today. >> thank you >> so joe, live nation just reported that you expect to reach show volume next year and fan attendance that's similar to what you've seen in the pre-covid years. with so much uncertainty right now how can you predict that attendance will resume where it was last year so quickly >> i think the one thing that we are seeing that we're very confident in is the level of fan demand that continues to exist for concerts we just did a survey of over 10,000 fans, people that go to live events worldwide, over 90% of them said they're eager to get back to live events, over 80% want to get back to live events within the next four months it's consistent globally throughout all countries, through agagenx, y, z they want to get back to the shows. more important is we've now been refunding at a large scale the 9,000 concerts that have been impact

since the pandemic started liberty global and telefonica agreeing to combine their uk operations julia boorstine now with all the details. julia? >> liberty global and telefonica are teaming up to create the largest phone and telephone operator in the uk with a joint venture between liberties virgin mobile and telefonica's 02 which will be valued at $39 billion. this creates a rival to bt, which has been the only urk operators, which has both a mobile and fixed network this new deal unites virgin, which has the second largest broadband network in the uk with o2's largest mobile network. now together the combined company has $46 million customers. the deal, which is expected to close in mid-2021 was announced last night after liberty global reported higher revenue than expected in its earnings you see liberty global shares up over 4%. joining me now is liberty global ceo mike fries thank you so much for talking with us today. >> thanks verying if for having. >> with so much economic uncertainty, why did you move forward and make liberty global's biggest transaction ever during this coronavirus c

"the exchange" will be back after this >>> welcome back we have a market flash on facebook julia boorstin here with that news for us. julia? >> that's right, kelly mark zuckerberg right now talking about facebook's commitment to the business of workplace communications, saying that he projects that up to half of employees will end up working from home. he announced that workplace now has companies paying for more than 5 million monthly active users. that's 2 million more than back in october it's still just a fraction of the size of microsoft teams, that just reported 44 million daily active users and smaller than slack, which announced 12 million daily active users last year zuckerberg also announcing the introduction of workplace rooms. that's a video calling space similar to zoom for up to 50 people, and an expansion of the consumer tool they announced last month also announcing oculus for business, which will enable compani companies' i.t. programs to program those oculus vr headsets also important as people work from home. zoom shares down over 2% on this >> whoo! yeah, again, this i

stock bouncing off after-hours lows and the company making a major announcement and let's get to julia boorstin with the details. julia? >> that's right. disney cfo christine mckarther announced disney will be sustaining the dividend which will preserve $1.6 billion in cash and this comes as the company announces that covid-19 cost disney $1.4 billion to its bottom line in the quarter and that includes a hit to advertising, movie delays and think, most of all, the closure of disney's parks. the disney parks alone had an operating income loss of $1 billion in the quarter due to covid driving a 58% drop in operating income now here's what the new ceo says about the plan that he just announced to reopen disney shanghai on may 11th take a listen. >> the approach we take may include implementation of density control measures as well as health and prevention procedures that comply with state and federal guidelines we are seeing encouraging signs of a gradual return for some semblance of normalcy in china >> the company talking about how before it began to close its domestic parks in mid-march they ha

. >> more news on disney julia boorstin has the details julia? >> that's right. christine mccarthy announcing moments ago that the board has made the decision to forego the payment of its dividend for the first half of the year this is all part of the company's plan to shore up its finances and make sure that it has the cash to sustain it right now and also managing its cash outflows they're confident in managing the crisis from the cash flow standpoint, she said back over to you, sara >> so much to get out. mike, the facts that the dividend yield about 1.6% or so for disney and a decent enough yield relatively significant decision there >> disney was a company where you never had to worry about the cash position and the balance sheet and they did pretty steadily raise the dividend and it wasn't a pure yield stock even though it was considered healthy. i do think there was attention of the leverage levels after the fox asset purchase and things like that that maybe this is being taken as a vm positishortm positive and given a buffer before the businesses come bac

the idea that freedom of expression is worth fighting for and, of course, a killer soundtrack julia boorstiny's move. julia, and whether it changes the business model here. >> well, i would say, sara, that though there are those similarities that i somehow never realized between trolls and hamilton these two situations are different in that trolls which was intended to go into movie theater, the theatrical marketing campaign, billboard, tv ads had already begun. universal then decided to offer it on demand for $19.95 to basically $20 for a two-day download on the other hand, hamilton was supposed to be released in theaters in the fall of 2021 we are talking about well more than a year from now disney had not done any marketing yet. they could have left it where it was, but they decided to release it on disney plus, not for an additional fee, but to make it part of the value of disney plus starting in july the one i think we're seeing here is disney trying to boost the value of its subscription service, trying to make sure its subscribers don't drop out when their free trials expire and also

. >>> disneyland's shanghai set to reopen on monday julia boorstin is here with that for us hi, juliaf. >> disneyland shanghai is to gradually ramp up the number of visitor with data tickets to mine myself crowds demand and the response to the social distancing measures there could indicate what's to come for disney's tokyo and hong kong parks. here in the u.s. disney world's disney springs outdoor mall announced it will open on may 20th and that will be a key preliminary step to see demand and also gauge behavior in the u.s. ahead of florida parks eventually reopening back over to you >> just remind us how big a portion the total revenue earnings theme parks are for the company and shanghai within that >> well, so wilf, theme parks are hugely important for the company. they're the biggest division based on revenue last year and also the fastest growing in terms of profits, but the u.s. parks are much more important than the international parks because they're wholly by the company. there is a revenue share agreement and in shanghai it's co-owned with the chinese government so it isn'

. ♪ ♪ ♪ ♪ >>> the delayed olympics looking to be costly julia boorstin has more details. , the international olympic committee saying it expects to bear costs up to $800 million for the delay of the 2020 tokyo olympics. those games have been delayed from this july to next july. the ioc announcing this in a conference call saying they're working to have the games in july of 2021 in a safe environment, saying they're full speed ahead focusing on tokyo and don't want to fuel speculation the site would change nbc universal which has the domestic rights to the games, discovery has the international rights, both said they won't suffer losses from the rescheduling of the games from this year to next year, though they are missing on potential gains from the related ad revenue but it does seem here based on the $800 million that the ioc, international committee, is bearing the brunt of that big move guys, back over to you >> julia, interesting. of course athletic associations have a lot of decisions to make and on a week where the japanese prime minister has warned about a second s

julia boorstin is here with the details of the reopening plan. julia? >> reporter: that's right. disney is starting the phased reopening of the orlando park july 11th. the magic kingdom and animal kingdom and then others on july 15th the ceo telling me that the park will operate at limited capacity and didn't say how limited to enable six feet social distancing guidelines and will operate profitably. >> we believe that we'll be at least able to cover our costs of opening up our parks but at the same time work then incrementally as we become better at putting more folks inside the park or the guidelines loosen up a little bit so we'll slowly but surely make baseball steps to the number of guests to accommodate in our parks. >> and chapek said demand is strong with quote tremendous number of reservations on the book and demand at disney springs adjacent to disney world has been quote very encouraging. chapek also said that he would be very excited to have both the nba and major league soccer play the rest of their seasons at disney world which they're in discussions about right now

with us is julia boorstin with ceo tony vincaquera. julia? >> thank you so much, kelly. tony thank you for talking for talking to us today. >> hi. how are you doing today? >> good. so interesting to have you come talk to us on the heels of this big deal to sell a movie that was intended for theatrical release in june to apple tv plus i'm wonderling why you didn't just delay the release as sony and so many other studios have why did you decide to sell it to streaming, instead >> there's tremendous unknowns of how many people allowed into theaters and the percentage of seats that will be allowed to be filled and when theaters did open there's a tremendous logjam of films and it's a really difficult process to date films and we have this opportunity and we -- this is not a practice that we expect to see happen many times but we'll see a few times we are completely dedicated to the theatrical world but this is an opportunity that arose and we took it. >> you did reschedule a number of big films to next year but tell us about the outlook for movie going. are you concerned tha

let's check in with julia boorstin for the latest. >> reporter: president trump tweeting this morningeferring the part of the communication act that protects platforms of held liable for the content that is shared on their platforms. then this comes after last night that president tweeted about the riots in minneapolis including saying when looting starts the shooting starts. twitter putting a warning label on the tweets and writing this tweet violated the rules of glorifying violence. however, twitter determined that it may be in the public's interest for the tweet to be accessible and placing a public interest notice on the tweet from the white house twitter handle this standoff between trump and twitter started tuesday when the social platform applied a fact checking notice on two of the president's tweets about voter fraud. yesterday the president's executive order advocated for a crackdown on facebook and twitter by limiting section 230 and increasing the oversight of the ftc and the fcc. facebook also says that repealing or limiting section 230 will actually restrict more speech

. >>> we have a news alert on facebook let's get to julia boorstin for that. >> facebook ceo zuckerberg saying facebook shop for small businesses and a big push in e-commerce now this new tool enables businesses to set up a store front for free to sell products across facebook and instagram and be able to complete a purchase on the sites or on the facebook platform and facebook's making it easy to shop from live videos facebook shares now up 2.5% at session highs. shopify, the shares falling and etsy facebook will charge a small transaction fee and the real opportunity for facebook is driving ad revenue from these businesses facebook does rely on small businesses they're the vast majority of its 8 million advertisers and they deliver the majority of the ad revenue. >> thank you very much share us up about 2.5%. >>> coming up, honey do list one of the guests says it's a big spending shift ahead for retail, joining us to explain why and who will benefit from this. >>> plus ripe for con sop dasoln deal making in the banking sector and who could be on the shopping list. "the exchange" is ba

. >>> let's get to julia boorstin who joins us with a special guest iac ceo joey levin >> ceo of iac, thank you for joining us this morning, good to see you. >> great to see you, too, though i can't technically see you right now. great to hear from you. >> good to have you joining us so joey, there were certain pockets of strength in your business you reported revenue growth even in april for match, for vimeo as well as dot dash what are you doing to make sure that that growth is sustained beyond just this stay-at-home period right now >> i think we're lucky in some of those businesses. i know we're lucky in some of those businesses in that they can really function and some of them function particularly well in this environment. when you look at dating, people are really looking for companionship, they're looking for ways to interact with people and they can do that on their devices even if they can't do that physically. in the case of vimeo we've been saying for a long time that we think every small business and every enterprise and entity needs video as a tool to communicate and we'

let's get to our julia boorstin with bob chapek. >> carl, thanks so much.i'm joined now by bob chapek, who is at walt disney world. the company just announced its plan to reopen its walt disney world theme parks starting on july 11th. bob, welcome what made you pick that july 11th start date, more than a month after the other orlando parks? >> well, we want to make sure what we present to our guests when we open up is going to be a quintessential disney experience and while we'll have substantially lower numbers of guests, we want to make sure we do it in a responsible way, so they can make those life-long memories that last a lifetime. >> now, bob, when we last spoke is when you were just reopening your shanghai park there, you started at less than 30% capacity what kind of capacity are you going to be opening at in orlando? are you talking about less than 30%? can you give us a sense? >> we're not going to give any specific number, because there's no government guidance, necessarily, as to how dense we can be but i will say our capacity will be a function

julia boorstin has more for us julia? >> sara, another step towards the reopening of the theme parks in orlando reopening the parks to the task force reopening in a meeting slated for tomorrow afternoon. now, this, of course, would potentially include dates they would plan to reopen park wills need approval from orange county's government before they can reopen according to the governor who did invite them to submit their plans this past friday. all of this comes as today walt disney world takes its first steps to reopen. they reopened part of its outdoor mall called disney springs with a rolling opening of the retail outlets and restaurants. but a lot will hinge on what the government says on how they can open disney chains up 4.5%. back over to you >> some light at the end of the tunnel there julia, thank you >>> target reporting its q1 earnings before the bell today beat on both the top and bottom lines. digital sales surged by 141% however, target paying a hefty price to stay going during the pandemic to cover increas

and facebook held its shareholder meeting today and julia boorstin is monitoring that one for us. >> that's right, mark zuckerberg controls the majority of facebook's voting shares on the company's proposals including reelecting the board and executive compensation were approved and all the proposals opposing zuckerberg were rejected, including limg naturing hnatur limiting his voting control, and having a man dated independent board chair, and other proposals were calls for a report on facebook's advertising rules, another one to prohibit encryption in order to prevent child 2exploitation and another on pay equity. it will be meaningful to see which percentage of votes they draw. and it will be included in s.e.c. filing that facebook puts out in the next couple of days but for now, zuckerberg's control prevails back over to you >> i guess, julia, shareholders don't have that much to be upset about because the stock has done relatively well even in the face of huge challenges like the regulatory overhang and the political battles and the controversies over fake news the performance h

julia boorstin talked with the ceo earlier and has details. >> bob chapek tells me that the company isouraged by visitors eagerness to return to the shanghai park for its reopening, but he would not tell us -- no word on when the other parks will reopen. >> i look at this as a stair step.. stair step we're going to be conservative, prudent in how we open up. right now the government has 30% cap of our typical capacity in terms of number of guests that we can put into shanghai disney. the plan is to go up 5,000 a week >> chapek telling me the company is focusing on being numbiblimbn how it opens its divisions disney is still facing so many uncertainties whether it's around the decline in advertising spending to consumer demand to go see movies in theaters you can find the whole interview on cnbc.com. back over to you >> thank you very much for that. jonathan, huge uncertainty as julia says for a company like disney yet the fact that anybody at all certainly hundreds and thousands albeit not at capacity went back to the shanghai park on its first day of opening is a small encouragement f

julia boorstin joins us with a deeper dive on some of the names. hey, julia. >> that's right. there are four median entertainment companies depending on live events, gatherings of people and advertising that have recently adopted poison pills now, six flags, look at that stock, it is down by half this year it adopted a poison pill plan at the end of march, saying, quote, it intends to guard against tactics to gain control of the company without paying all stockholders an appropriate premium for that control they're relying on advertising and live events, i heart media shares are down by about 57% this year, saying the shareholder right plan does not deter it from considering fair offers clear channel outdoor, spun off from i heart last year, it adopted its shareholder rights plan on tuesday and radio broadcaster intercom is down about 60% to just about a $150 -- $150 million market cap now. it is worth noting though that to different degrees these companies were all facing challenges before coronavirus, just exacerbated because of the crisis back over to you. >> and mike santo

. >>> for more coronavirus coverage, head to cnbc.com >>> fox erns are out julia boorstin has the numbersx shares moving higher in after-hours trading, up about 3.5% after gaining 3% during the day today on a big beat in earnings per share, the company reporting adjusted earnings per share of 93 cents, a 22-cent beat of analyst expectations revenue coming in slightly stronger than expected the company citing growth in advertising, especially around the super bowl, and saying in a comment they're confident that fox eaks focused collection of assets centered on live and event programming will be more in demand by advertisers and audiences alike, positioning us for the future and enabling us to maximize long-term shareholder value. fox is suffering from the lack of live sports but that doesn't seem to be hurting their results. back to you. >>> still ahead, all your after-hours earnings in our rundown slew of big-name companies reporting just moments ago. we'll break down the bgeigst moves and comments from the paypal ceo after the break ♪ ♪ ♪ >>> south dakota has become the new switzerland o

that action flagged his tweets they lead government agencies pulling social media add spend julia boorstinoins it all and has the details on that part of the story. good morning, julia, early morning. >> good morning to you, joe. twitter's public policy is saying this is a reactionary polite sized reaction. it protects american innovation and refreedom of expression. attempts to unilaterally erode it go against the freedom. making it liable for content by repealing or limiting section 230 would, quote, restrict more speech online, not less. this would penalize companies that encourage controversial speech president trump's threat of a regulatory crackdown could mean a surge of legal costs, his demand that government agencies review what he said last night was billions of dollars of ad spending on social platforms may actually be a very low risk to facebook and twitter so far this year the broader category of government nonprofit and legal advertisers was responsible for $235 million in facebook advertising up from a total of $219 million spent last year in just $7 million spent this year o

after the bell today with the stock down more than 25% in 3 months, yulia boorstin has more on what to expect to hear today juliacus for disney less on the first quarter results and more on guidance for the impact on its coming quarters on coronavirus in the coming quarters especially for the parks division now expected to be the biggest drag on results. investors want to hear how much closures will cost and when parks reopen and the cost of low attendance they'll be listening for the theatrical audiences returning and how it thinks about the reliance on the releases over at the tv division, the question is how deep an ad recession and what kind of cord cutting they're seeing disney plus hit 50 million paying subscribers far faster than expected. kelly? >> thank you. >>> my next guests say the challenges of disney run deep. for more, i'm joaned by james chuckmock and ed lee for "the new york times." good the see both of you ed, starting with you, kind of on the longer standing issue of espn and cord cutting. you have people asking for refunds for sports channels that they ended up not airing the sports they were