cbs' les moonves in the 10:00 a.m. hour and terry duffy on today, the third anniversary of the flash crash. what's he saying about high-frequency trading and investor confidence in the markets. take one more look at futures and not a lot of direction right now. awfully close to the flat line. a lot more "squawk on the street" from post 9 at the nyse when we return. [ male announcer ] you are a business pro. omnipotent of opportunity. you know how to mix business... with business. and you...rent from national. because only national lets you choose any car in the aisle. and go. you can even take a full-size or above. and still pay the mid-size price. i could get used to this. [ male announcer ] yes, you could business pro. yes, you could. go national. go like a pro. this is no time for lollygaggin', lad. the chickweed and the dandelions are wreakin' mad havoc! now's the time to send in the scotts turf builder plus 2, man! it kills weeds while it feeds and strengthens your grass. feed your lawn. feed it! >>> welcome back

. >> diller has defended the legality of it extensively, but les moonves says he's will willing to takewhatever it takes to avoid being impacted by aereo even if it means turning cbs into a cable station. my question is how much is iac willing to invest to defend the business model and to try to make this work? >> well, look, i think things are legal if the court says they're legal. the next stop would be the supreme court and if the supreme court rules on it then it will either be legal or not based on what they decide. right now it is certainly legal. we believe it's legal from the beginning. we've believed that the courts would find that and we're certainly will willing to continue to invest to the point of getting to that point if that's, in fact, where it goes. that's really not up to us. it's up to the supreme court, obviously and the networks who have been suing us. it's important to remember that the networks make money in two ways and they can access them on cable and that's the way it's also been. over recent years of technology there's been a makeshift from people using their