let's get out to julianna who's been covering the story from sky's headquarters julianna, it was a solid bid process over the weekend where both bidding parties could not see it tallied up from either side what we had was a huge gap that emerged between the comcast and disney/fox side. tell us about this forecast that they're paying for sky can you see value? >> reporter: thank you, karen. yes, comcast came in with a bid of 17 pound 28 pence which was significantly higher than fox's bid and the top end of analyst and investor expectations. part of the reason for this full price is connected to the next stage in this process, and that is the tender process whereby comcast must go out to sky shareholders and appeal to them to achieve 50% acceptance in order to lock in the deal. in terms of this next step in the process, comcast has until october 11th to reach and cross this 50% mark. the key question moving forward is around what fox decides to do with their 39% stake should fox decide to participate in this tender and sell their 39% stake becomes a lot easier for comcast to reach this key

and tell them we're really glad that you love our stars so much but please try not to scream and juliannaand johnny. while we're filming. ok stop me if you've heard this one before a has been performing discovers a younger talent and decides to hitch his wagon to a rising star now that's the lot of a star is born a story that's been told and retold for hollywood history in fact there's been three film versions of a star is born perhaps the most famous being the one from the one nine hundred seventy s. starring barbra streisand and kris kristofferson for the twenty eighteen edition we have instead of kris kristofferson bradley cooper who also directs but the real surprise is his leading lady none other than pop icon lady gaga in her film debut. bradley cooper plays musician jack mayne he used to be successful now he's an alcoholic. is the first time i worried about. chiles so maine has lost his grip but then he sees allie played by lady gaga and instantly she's got what it takes to be a star just like in real life. while we were filming this movie we also had the opportunity watching and b

the battle for sky, the uk skae satellite broadcaster is heating up in a winner take all battle juliannaas more. >> this weekend is poised to be one of much excitement for sky yesterday we learned that the uk takeover panel decided to launch an auction to resolve the bidding war between fox and comcast. let's look at what we can expect from this auction. it will commence this evening, 5:00 p.m. uk time. it will last for about 24 hours. we'll know who is the winner tomorrow evening the auction will consist of up to three rounds of bidding and all offers submitted will have to be in cash. in terms of the rounds themselves, the first round will be kicked off by fox, who is currently in the underdog seat then in the second round comcast will have an opportunity to counter bid. they will have this opportunity regardless of whether or not fox bids higher in the first round finally in the third round, should it get there, fox and comcast will have an opportunity to put forth their best bids again, all of this will conclude saturday evening we will hear the outcome of that auction very shortly a

julianna joins us with more. >> this represents significant progress for comcast in terms of their pusheach that key 50% mark just to put this into context, comcast has until october 11th to secure 50% of the deal. so approaching 37% puts them in good stead to get there. in terms of who has been selling to comcast, regulatory filings from elliott advisers, a variety of other hedge funds who have been involved in the deal. certainly a celebratory week for those guys one key outstanding issue is, of course, the fox stake. fox still retains 39% stake. we have not heard from them yet on what they plan to do with it. given comcast is making strides on their own, it doesn't seem at this point the deal closure is dependent on fox >> you and i have been talking to analysts. i wonder from your chats with people in the market, some of the hedge funds who have been participating in this deal what do they see happening next with comcast? >> one interesting question entering the debate is whether this is the end for comcast in terms of their push to make acquisitions, search for growth. one of the v

moving closer to roger stone, to the clinton email situation and julianna sans -- assange.assag davidrtunate, there are too many precedents. good to be with you. that is jamie floyd. are presidentwe trump and the first lady walking out what the president and first lady poland. live from new york, this is bloomberg. ♪ david: tesla is our stock of the hour and it is in the crosshairs. shares falling steeply after a bloomberg scoop that the company was facing a criminal probe by the justice department. this is from -- a criminal probe is in its early stages. it is going back to tweets by elon musk that he is, contemplating taking tesla private, having funding secured. that initially sent shares higher. but then we have seen them fallen fluctuate. the criminal inquiry is in its early stages and this can take several months. this follows a single inquiry -- sec.il inquiry by the the sec foundhink something that would lead them to something more serious? >> it is unclear at the moment. they are running alongside each other. it goes back to the tweet we had from elon musk back in august. is

julianna has been watching this story closely. reports are coming through, it looks like comcast acquired 30% of outstanding shares. they need to get to that 50% target given thepace of this news coming through, it seems like they're on a good course >> yes, absolutely this is a significant development in terms of the likelihood that they reach this key 50% mark we heard from comcast after the auction process concluded that they were out in the market looking to purchase shares, and this disclosure this morning confirmed they have purchased more than 30% and they will continue to do so. this material de-risks the possibility they don't reach this key 50% mark. and they have until october 11th to reach this level. with that process seen as lower risk now, the conversation is turning to the merits of the due deal the two outstanding questions is what does fox do with their 39% stake and does hulu play a role in whether or not fox decides to sell into the offer. >> do you think we may end up in a quid pro quo situation where fox agre

the uk auction for sky will be settled this weekend we are joined live from london by julianna tatelbaum. >> this weekend is poised to be one of excitement for sky as we head into the uk takeover panel's auction phase. in terms of what to expect from this auction t will commence this evening at 5:00 p.m. and run for 24 hours we will hear the results tomorrow evening the auction will consist of up to three rounds of bidding and all offers must be in cash in terms of the rounds themselves, the first round kicks off with fox, they are backed by disney they are the underdog going into the auction. the second round is when comcast will have an opportunity to come in with a counter bid. in the third round both sides will have an opportunity to come in with their best and final offers this is set to conclude tomorrow evening. we will have news very shortly as we head into the auction, let's look at where things stand. comcast in the lead with an offer of 14.75 pounds. fox in there with an offer of 14 pounds this offer is for the 61% of sky that fox doesn't already own in terms of sky shares, th