downgraded it because of mismanagement that downgrade was predicated if shari redstone wins and les moonves leaves, i would say avenue all of the downgrades that have been happening over the past couple days really hinge on whether analysts think moonves is going to stay in control or shari redstone is going to stay and les moonves is going to leave >> david, are you there? >> any weigh-in on the discussion with what happens with les moonves >> yeah. i think it's important to give people a sense of where we are in this ongoing battle because that's is what it has become between shari redstone and the most successful chairman leslie moonves. the cbs board does seem to have delayed what so many will say is the inevitable conclusion which is these two companies aren't going to end up somehow some way together certainly by the action they took on monday seemingly are delayed that some calling it the nuclear option which they chose to sue and go for the temporary resan franciscoing restraining order that the judge will not apply. but did did not mean that over time, shari redstone will not go ab

for les moonves.ing battle cbs shares appear to be unchanged. back over to you >> julia, thank you. i mean, so they got the restraining order which is a big deal but also perhaps unavoidable as they sort out the legal issues here >> it's unavoidable. that the judge would say slow down, let's figure out exactly what's happening here, how it's going to proceed 2in court >> this all has to happen kind of quickly it's an extraordinary example. >> try to get to a board meeting to make determinations. >> exactly and it's to basically dilute its own owner by saying you might own 80% of us, but if we issue stock, we're going to take you down to 17%. don't you think there are some broadly speaking for whatever happens here >> you would think so. it seems the funny rink nny wri this is permitted. and have this around them. from a lot of companies that share classes that give them controlling vote. >> a lot of tech companies, media companies obviously. we're going to have much more on this story we'll keep an ey

cbs and les moonves are suing shari redstone, the leader of national amusement, basically his boss. she's a controlling shareholder over being forced to merge the tiffany network with a company best known for jersey shore, spongebob squarepants. charlie gasparino monitoring what's happening in the courtroom. he has details coming up later on. >>> plus this, the chinese vice president on capitol hill somewhere. right now he's discussing trade with lawmakers. we're following him around. edward lawrence is going to tell us who he's meeting with and how it's going. we have edward, the shadow. >>> and the senate right now, it keeps going, they are debating the future of capitol hill. net neutrality, the so-called issue of net neutrality, we have kristina partsinevelos telling us neutequality is going to find its way into the trump ftc, that could change things. and waiting for president trump to host a roundtable at any minute on california status as a so-called sanctuary state. blake burman is at the white house, he is standing by. >>> and there's more, fox news senior judicial analyst

this is cbs chief les moonves methodically plotting escape plan from what he sees as a forced merger with cbs and viacom. charlie gasparino with what has been the best family feud ever. >> you go to a delaware court, generally adjudicates corporate disputes and a family controls our company. we want to take that company away from the family. i just never heard something like that. but it's happening here. it's cbs. filed a lawsuit yesterday, basically asking for temporary injunction to prevent shari

the redstone family has been a moonves. by leseases the likelihood that the media company will merge with viacom. today's ruling by a delaware judge is a victory for sherry redstone. nai controls viacom. cbs plans to go ahead with a board meeting late today to consider the clearing a dividend of shares. global news 24 hours a day, on air and on tictoc on twitter, powered by more than 2700 journalists and analysts in over 120 countries. i'm mark crumpton. this is bloomberg. ♪ shery: thank you. one year later and robert mueller's investigation is showing no signs of slowing down. date has already -- his office has already indicted several individuals. and one isled guilty already serving his 30-day eitence for lying to the of -- the fbi ei -- the fbi. rudy giuliani told bloomberg that the president will be using the investigations anniversary to pressure the special counsel to end it. .e welcome jennifer rogers great to have you with us. we have seen indictments, people pleading guilty, people serving jail time. what is your best gu

the epic battle is really between les moonves and the redstone family.re has been some talk of yet another nuclear option that they could possibly employ, and that would be to fire les moonves. nabila: she says she does not want to do that, and she wanted to play nice, and she wants the two companies to come to an agreement themselves. now she has gone nuclear today. lisa: ok, carry on. [laughter] nabila: if she does fire les moonves, he is owed about $280 million if he is fired, and that includes his stock options and other benefits. he has a pretty sweet deal. even if he is fired, he probably went. -- wins. scarlet: there are so many twists and turns. what is the timeline after today's hearing? nabila: cbs directors want to have a meeting tomorrow at which they will both devalue the redstone family's controlling stake, so they want to take it down from 80% to about 17%. scarlet: ooh. nabila: if the judge does not rule today on that, the judge can say to "do not have the meeting," and unless the judge says that, they think they should have the meeting,

cbs and les moonves are suing shari redstone, the leader of national amusement, basically his boss.

what about les moonves? he's the ultimate challenger here. he was put in place by the ultimatelynd is now challenging her hopes for a deal. we can talk about whether or not this viacom-cbs deal happens. he has put himself firmly in the firing line. >> no, absolutely. he's suing his boss. he does not think this deal should go ahead. he has opposed it for a while that. he has done a good job at cbs. a look at how cbs has done since the split, they have done really well. he has earned a massive golden parachute. julia: how much is he actually owed if he loses his job before 2021? plus options.n scarlet: you talk about the options including the perks. les moonvesout why and wall street investors oppose a cbs merger with viacom. bigt because viacom is a company or because the redstone family is pushing for this deal? >> they think viacom is a weak partner. they would like a lot of cbs partners, les moonves would like to do a deal with verizon. verizon has come out and said, they do not want to buy a content company. that deal is off the table for

he's lost at least one major battle in this boardroom war is it over between sheri redstone and les moonves programming management which investors have to live with if they hold on to the stock? >> well, i think you got two separate questions there, one, can les go back to work and work with sherry. and is that as a practical matter, going to be broken in a way that you can't put it back together and then you have the separate issue of, okay, i think we're making a little bit too big a deal of this court decision. it really would have been extraordinary if a court had ruled you could that easily strip a controlled shareholder of control but that doesn't answer the question of whether cbs is going to remain independent. relative to a viacom merger, which is really the position that les has taken and i have not lost any confidence based on the court's decision that he may still win that battle. and i say that because i think it is extraordinarily difficult now for a merger to be effectuated when you have a vote of the independent committee, unanimously saying it is not in the best interest of

it's getting harder and harder to see how sherry redstone and les moonves could work together after this we'll have to see hopefully, cooler heads will prevail. i think you have two interesting altering views les is a world class ceo he has done a terrific job with cbs and then you've got a controlling shareholder, who i think sherry does have tremendous respect for les but in the heat of the battle, things go on but i still think in the end they'll find some way to work things out with les continuing to run the entity and at the right price, presumably, in a positive way for shareholders, assuming it would be supported by the independent directors, they would look to merge but there's no doubt this raises all the questions about what happens with controlled companies when you get to the founders no longer involved. and the problem is, that's a policy matter. the law is the law, i think, right now. i don't see how that changes in spite of what the independent directors may like to see change at cbs. >> michael, morgan brennan here. you mentioned bob wright last hour he suggested you coul

charlie gasparino with the latest details on les moonves's plan to avoid a forced merger with viacom.king it, next. . cheryl: okay, so cbs, one of the top performing companies in the s&p 500 after analysts at bernstein upgraded the stock to outperform, the odds of a reunion between cbs and viacom are close to zero for years. this is cbs chief les moonves methodically plotting escape plan from what he sees as a forced merger with cbs and viacom. charlie gasparino with what has been the best family feud ever. >> you go to a delaware court, generally adjudicates corporate disputes and a family controls our company. we want to take that company away from the family. i just never heard something like that. but it's happening here. it's cbs. filed a lawsuit yesterday, basically asking for temporary injunction to prevent shari redstone from controlling the company and stopping a dilution plan that essentially takes her out, right? reduces her state to the level that les can run this any way he wants and a lot of people inside cbs say sell it to somebody else, he does not like the viacom deal

les moonves wants to continue to be in charge. he will be in charge.ants him there, but he wants his number two in charge after him and she wants the head of viacom to be number two. liz: you don't think les moonves is going to walk? >> if he walks he gets over $200 million. she doesn't want to lose him. he's respected running cbs, a great history of accomplishment there, she doesn't want to have him walk for that reason primarily. liz: this is a corporate drama story, right? >> it really is. liz: a big soap opera. >> the only lesson is the complicated ownership structures don't work well for shareholders. that say legitimate thing to say because she can through this 80% control, control what goes on. liz: cbs' stock got pounded today. >> yes. liz: talk to us what the eu is doing to help all of us get more control over our privacy on social media? >> they are putting in force draconian rules about what all kinds of companies have to do in terms of letting you know and getting your consent about the use of your data. what's interesting to me about this

goes on she will force that merger and i don't see any way that this merger you know with with les moonves at the helm takes place but she will not be ousted she controls the votes at the c.b.s. as far as the c.b.s. control go you know and she can't be you know pushed out by some arbitrary vote by the board you know crazy thank you for the palin century conservative t.v. and radio steve malzberg your time but with. the end game of us present. donald trump's confrontation with china may be coming into view this week on sunday after an intensive three day summit with chinese negotiators treasury secretary steve i'm in new sion told an entertainment program on fox network we're putting the trade war on hold specifically mr mission said that they threatened tariffs of one hundred fifty billion dollars worth of chinese imports we put out a whole ball talks perceived mr pullback comes as many observers are noted little payoff from trump's bluster based upon negotiating strategy on trade issues while walking back the tariff trat mr minuit threat mr minutiae also had to acknowledge that chinese of

that's setting the scene as they say ok and then by the way we covered last week i think that les moonves the c.e.o. of c.b.s. of the second highest paid c.e.o. all companies all around the world but put that aside for a minute so last week last thursday there was a court decision what was this case about and what did the judge rules if all right well c.b.s. went to court on the last week and they on monday and they said she sheri redstone at redstone is interfering in the interests of the shareholders of c.b.s. by trying to force a merger and by by basically acting as a majority shareholder of a company the judge said he didn't see any into. ference but basically reserve the right to come back so let me tell you before that there is a decision on wednesday sherry redstone decreed that any c.b.s. once they issue a dividend c.b.s. wants to issue a dividend to shareholders which would effectively take sherry redstone out of the controlling interest seat weaken her voting position and and go from eighty percent down to about seventeen percent control of the company so sherry red zone issued

she probably has the decision to make whether she wants to get or evenhe board of cbs just les moonves push her agenda forward. now it's in the court. vonnie: what is the likelihood? will the judge make a decision? >> he will certainly try to vote on whether they can have a special meeting tomorrow at cbs at which point they were going special implement a dividend that would dilute the redstone's holding so i think he's probably going to rule on whether that meeting can take place. the day after the regularly scheduled shareholder meetings -- i think that needs to be addressed as well as strong suggestion from the judge that just get this thing fixed. nejra: thank you, paul sweeney. let's talk more on one of our top stories. a senate judiciary committee has released transcripts related to the june 2016 trump tower meeting. we are joined by kevin cirilli live on capitol hill. there's a story on the bloomberg, the trump tower meeting documents. what you need to know. much better to have you tell us what we need to know. what is it that we need to know from this data dump? >> chuck grassl

and, and that board is being led by les moonves, long time ceo.not want this americanwer viacom. >> does not want the merger that shari is forcing down his throat, viacom -- neil: they're suing over it. >> they're suing over it. that is the injunction. here is how smart les moonves is. he thinks he has a strong legal game. what i'm hearing from people inside cbs he thinking long term. he wants to run cbs. that is his first goal, basically run it solo but he is actually thinking long term, conceding to people inside of cbs, we gotten it from sources inside the company that the ultimate out come of all this, if wins, wrests control of cbs from the red stones would be sale and merger of cbs it is almost inevitable that this will come up. content plays, particularly with all the stuff going on, cord cutting, the fact that you have big tech involved in media, and entertainment, the content cbs has will be considered takeover bait. neil: hasn't she countered, you don't do this, you're out, every member of the board is out? >> that is the separate argume

way, les moonves has sued his boss. >> he has.say that agreedere economic terms to a few weeks ago. which is interesting because they have agreed to the terms and now they have said that they don't want to do the deal. so sherry redstone has come out and said that she think it is because she shared concerns about a director who was bullying. towards her. david: this will get decided right quick. they go in next week and the court is going to rule one way or another. -- be allowed on that nabila: it will be decided quickly but whether the deal is decided is a big question. get think that viacom will to do it on their turns. viacomif you look at stocks compared to cbs stocks compared to cbs stock since they split, the comparison is remarkable. because viacom has gone nowhere. nabila: absolutely. done a terrific job. no one is questioning that. he would have got to be the ceo but he doesn't think -- they don't think it is in the best interest of all of the shareholders. and what it comes down to in court is whether they can issue the

the street has had a lot of confidence in les moonves.d has been unbelievable and i think the bigger issue here is that the street is concerned about the value that gets lost in the potential viacom merger versus cbs being sold to somebody else. especially losing les moonves who is likely to stay around for the next couple of years i think that even if cbs loses, i think we're going to see a reconciliation between shari redstone and les moonves. >> you assume rationality will prevail. >> not sure there's rationality always here. >> okay. great to see you >> great to be here. appreciate it. >>> coming up, thousands of starbucks stores across the country closing this morning for anti-bias training we'll talk to dyuzr xtan pdene ♪ most people come to la with big dreams. ♪ we came with big appetites. with expedia, you could book a flight, hotel, car, and activity all in one place. ♪ but as it grew bigger and bigger,ness. it took a whole lot more. that's why i switched to the spark cash card from capital one. with it, i earn unlimited 2% cash

and les moonves is talent. and you've got to be sensitive to that.at context. he's like a superstar management type. >> he wears a suit but he's not a typical suit >> that's what i mean. you don't talk about most media ceos or corporate executives in this >> he's a guy who reads the scripts, casts the people. he's engaged in the artistic side, if you call it art >> and it's worked, obviously. zp >> so far it's worked. >> so far? i think the jury's in. >> no, no. his legacy is set. >> it can't not work >> he said to me i can leave tomorrow i don't care if i go to more super bowls or tony awards but my legacy is set i've done what i've done at cbs. and he has >> thanks. >>> coming up when we return, rapper and fugee founder pras michel he's our guest right after the break. and later, brothels under fire why closing them down could be bad for business we've got that story straight ahead on "squawk." there's nothing small about your business. with dell small business technology advisors you get the one-on-one partnership you need to grow your business. t

that it is -- that it loses les moonves?is a buy i do not think redstone is going to be able to force this merger. she may have won today but you had an independent committee vote already on this, five board members unanimously saying this thing is not in the best interests of the public shareholders of cbs. against that back rop, i have very hard time thinking that her lawyers are going to say, you know what, okay, force this through anyway lawsuits would be flying cbs is already down 5.5 billion in market cap since this whole viacom story developed i think with no analyst out there really saying this is a good thing for cbs, maybe good for viacom -- >> right. >> -- but nobody is saying it's a good thing for cbs, doesn't think she can force this through. >> if there's no merger moonves will stay? what happens with cbs? it operates as an independent company or is it in play >> there are two scenarios maybe more certainly if it doesn't stay as an independent company, les wasn't going to stay i think it stays independent i thi

it would be pushed through without les moonves.y this would be the beginning of the end of les moonves, meaning they would take steps towards getting rid of him, but he could be out of cbs? >> the could be if that is what shari wants. the question is, is there anything left to salvage? given what has happened between them, it is a wonder if they could ever work together, even if both companies were comfortable, it has been such an irreparable break, you cannot see them going back together. julia: he just dragged her through the courts, she put him in place, this relationship is completely toxic now. not a bad payday for lesnar does, if he does get let go. >> he said he is old enough and rich enough, if he cannot get the transaction on his terms he is ready to walk. that is not with a shareholders want, they want to see other cbs remain a standalone company, under list move as -- under les, or maybe a company without national amusements as a control shareholder, maybe allowing the sale of the company. julia: you have to look at the

maybe in the world it's bob iger and les moonves.on les moonves now, there's no way in the world that they can get rid of him or would want to get rid of him i think the nonsense going on here, you may be seeing the very last days of these dual share companies. which usually helps new companies coming in. so the owners, the guys that built it can protect it for a while. cbs is a 90-year-old company i think the delaware courts will look at that saying this is a silly situation. we're we're -- where a shareholder who owns the majority of it, and this may go down the beginning of the end of that type of ownership. >> bob, it's david you worked for comcast a bit we do. >> right >> they have it, too >> there's an economics versus an ownership there that's very large. you think that delaware is going to set a precedent that says forget t we'shg it, we're throw all the dual class structures? >> maybe not right away, but i'm saying this is the beginning of the end of that whole thing. the reality of it is this exposes it, it's negative to sh

she wanted bakis to be second in command to les moonves but that's something that moonves hasso resisted. ow reuters says she has dropped that demand because she iset eager to a deal done and she wants negotiations to advance. and bothtocks were higher on that news. viacom shares rose by 3%. shares o cbs were up by 9% today. >>> and shares of cyber security company carbon black made the debu company priced 8 milli shares at $19 apiece. that was the high end and it valued the company at more than $1.5 billion. and it was a good debut. shares finished higher by 26% to $23.94. >>> and wells fargo said today it will pay nearly $0 million to resolve a class action suit related to the sales practices but the bank denie. shares closed up more than 1% to $52.41. >>> time now for our market monitor who says he likes value stocks over growth stocks the market. the last time he was on was back in july. he liked ale which is up 22%. amazon is up 51%. and microsoft is 30% higher. joining us is ernesto ramos, a portfolio manager. we. >> thank you very much. >> congratulations on those picks. all three

david: if you are les moonves and you go to a restaurant in hollywood or los angeles, does somebody come up and say, by the way, i have a script, or my nephew is great for a show, or you don't get bothered? leslie: all the time. it happens consistently. the thing that people don't quite understand is it's about the execution. it's not about the idea. you know, so you look at -- you mentioned a show like "e.r." what is it about? it's a hospital show, but it's what happens in that hospital show. what is "cheers" about? it's about eight people in a bar. so when a guy comes up to me and says, i'm a podiatrist, you should see our office is so funny. you got the receptionist there. and you got the old guy there. and this guy there. you know, it's a great idea for a show. and, you know, so you politely say, here's my email, please send it to me. david: has anybody ever come to you and said a private equity show would be pretty good? [laughter] leslie: well, i've seen your performance at the kennedy center for many years. you have -- you have potential. you do. david: really? well, i -- i've won

most powerful ceohu rsday a delaware judge ruled against the cbs board chaired by long-time ce ceo les moonves. sumner redstone and his daughter sherry are the owners. they want to drop the current ting stake of 80% down to 17%. the redstone family has a lon history in the entertainhint ory going back to the 1930s when national amusements was foundedy summe redstone's father as a theater operator. they acquired viaco for more than $3 billion in 1987 and a little over a decade later viacom merged with cbs. the media industry's biggest deal ever. lseven yearser national amusements a cbs split viacom into two different coanies. after a dozens tumultu years, sherry redstone is pushing to combine the two giants. moonves is objecting. what happens next? the legal battle is just beginning and if ons loses, it could result in cbs its veteran leader and board. i'm julia boorstin in los angeles. >>> nordstrom reports disappointing same store sales, and that's where we begin ar tonight'st focus. the retailer said sales growth in the most recentuarter was weaker than expected even as more customers visite

les moonves could leave before his contract is up.. $187 million is what he could walk out of the door with, if the redstones push him out and the redstones win. stuart: high-end soap opera. ashley: yes it is i'm not condemning it, that is what it is. liz: open opera. stuart: thank you very much, liz. coming up republican candidate taking on elizabeth warren in massachusetts. beth lynn strom. she calls herself warren's worst nightmare. she tells us why. she is at show. >>> this op-ed caught our eye, titled, liberals, you're not as smart as you think. we have the author on the show. he will make his case. ♪ there's nothing small about your business. with dell small business technology advisors you get the one-on-one partnership you need to grow your business. the dell vostro 15 laptop. contact a dell advisor today. ♪ ashley: in the last hour joe asher, head of betting company william hill us told us that the relaxing of gambling laws may not benefit sports franchises here, but like the english premier league they will be big winners. t

if that happens, is les moonves likely to be the ceo of the company?ld merge i think the best outcome for the two companies are other suitors. they could get a lot more value from other players than this kind of forced marriage that has been contemplated here that was my first point. what was the rest of your question >> if the two got together, do you see any way that les moonves would be the chairman of the combined company >> i kind of doubt it. i mean, you know, it is hard to see if the merger happens that he's there. >> who would the potential suitors be for either of the companies. you mentioned that tantalizingly. >> i'm sorry what did you say? >> who would the potential suitors be of the two companies which you mentioned. >> there has been some reporting that verizon made an approach. at&t is successful, with time warner, you know, verizon will have to think about that again i think that there is a lot of interest among internet companies and deeper into contact and i think that if at&t and time warner beat off the doj's antitrust suit, there w

on one side cbs chief les moonves, attempting to break free from the redstone family that have controlledbs for decades. 11 board members voted to strip sherry redstone of majority control. redstones says that tally fell short of the threshold needed to do so. at the center of cbs' belief that they will force a merger with viacom, the family's other media company, mtv, nickelodeon losing ad dollars meanwhile cbs has flourished. they say it cannot wish away the reality it has as controlling shareholder. >>> preparations in the uk in full swing for the royal event. anna stewart is live with all the details. good morning to you. what are you following this morning? what's the latest scoop there? >> reporter: well, this morning i've actually broken into windsor castle, in the castle grounds away from all the public after the last few days of being on the streets. it's quite nice here. the grass is like a carpet, dave. it's lovely. in terms of release of information, we are expecting d dorian raglan, meghan's mother, to meet with the queen. she met with prince charles yesterday at clarence hou

she was prodding les moonves to buy viacom. he didn't really want to buy it.t he did, prehe will tiffly, they were negotiating, we don't like shari redstone. we don't think she is capable. we think she is forcing on us a bad deal. neil: that she wouldn't aggressively pursue this, raising hackles it would die on the vine? >> no. she pursued it. her point i hired an independent board to see what is best for the counsel that independent counsel, believes, it is not me, that counsel believes they should buy assets and buy viacom and merge the two companies. here is the thing. i think the way les moonves looks at it. they had a chance to postpone everything, stop it cold. he said no. i lose nothing, if i get fired, fail, i walk out with $200 million and a lot more perks. and i become a shareholder activist legend. if i win, guess what? i could probably sell this company -- neil: he is in win-win situation? >> he is. neil: thank you very much. one. promises that a whistle-blower at the va says the president has not kept. it is not his fault but what is happening at

the reality is even les moonves seems the value in this transaction.e has even offered not an acceptable price to the viacom board, but even he made an offer to try to buy viacom earlier this year. there is clearly a desire or recognition that scale matters in media and that cbs, which has already lost football rights on thursday night to fox, they need more scale. nfl rights are coming up and there will be a tremendous bidding war for a lot of bigger tech platforms for sports rights. cbs is not big enough. whether it is less or somebody else in charge of the company, there needs to be a multi step process that takes place for both of these stocks. vonnie: that's the longer term view, but with the court case, how unprecedented would it be to have voting shares diluted and to have shareholders that have been long time shareholders in cbs gain more power? richard: look, i'm not a lawyer. i think this is going to come down a legal battle. it's unclear even before that plays out before there is a rush running order on what could or could not happen. in the

last night the company postponed it in the accelerating war between most of the board led by ceo les moonves and shari redstone i was outside cbs's headquarters last night as the board was meeting inside we saw several board members walk in. they voted to approve a special dividend that diluted redstone's voting power to 17% from 79% the board said if consummated the dividend would enable the company to operate as an independent non-controlled company and more fully evaluate strategic alternatives redstone is the controlling shareholder for cbs and viacom and has been seeking to combine the two companies. a delaware judge yesterday temporarily blocked the temporary restraining order against her that moonves' camp was trying to impose that means the special dividend most likely will certainly be challenged in court. national amusement said in a statement today's vote, while couched as an effort to prevent such a transaction was pure pretext. cbs management and the special committee cannot wish away the reality that krscbs has a controlling shareholder. investors say the markets are concerned

then that all ended up in court today in delaware as cbs, its chairman and ceo, les moonves, trying to stop the redstone family which controls both the companies, cbs, viacom, through the aforementioned national amusements. both stocks i said were lower today. right before the hearing, what happened was, the redstones came out and they, made a movement to amend the bylaws of cbs, to prevent the board from issuing a special dividend that would have different lieutenanted the voting power for the redstone family from 80%, huge controlling%, all the way down to 17%. that is where we were heading into today. now we do have this decision from andre bouchard, the judge from delaware, granting a temporary restraining order. what cbs was looking for. they went to court wanted that temporary retraining order put in place. they wanted to prevent the redstones firing my members of the board before a board meeting set to take place tomorrow. this is just the early stages of all of this. this has been a dramatic media merger back and forth. the only thing i would add, melissa, david, to this, we'll

the controlling shares, the b shares, and still despite what's going on with shari redstone and les moonvesthe structure, it's still a structure. so they cole it. i'm just saying, what i'm hearing, and it's interesting. fox is starting to get a little spike there, maybe. is that -- liz: it's tiny. you need a microscope. >> i don't know why it's spiking -- [ laughter ] >> thank you. liz: bringing him down to earth. >> not that i'm trying to move stocks every day. we did move ge significantly on friday on the story about the sale of multiple bidders on lighting business, the iconic lighting business. here we are, this is what brian roberts is being told, i'm not saying i agree with it, he wants our assets and all systems go, maybe it will change his mind and obviously one of the things to watch for is the at&t-time warner decision. do they allow them to merge? does it merge with conditions or it hurts the deal that other people back away? sun valley is going to be interesting this year. liz: if i let you keep going, you'll start reading the gettysburg address. he's standing around. >> i'm goi

les moonves is staying in the top spot but the shari redstone wants buckish as number two. moonves will probably put his guy in. that is one thing that stands in between. you see a revenue beat of 3.76 billion. back to you. melissa: nicole, thank you. "washington post" out with expose' today on cbs's reporting mishandling of sexual harrassment against long-time newsman darlingly rose. you're jumping on the conference call at 4. we'll bring anything back that cbs has to say, this is the story of the day. david: update on reports of shots being fired at opry mills mall in tennessee. our fox affiliate is being told by the nashville fire department, a person was shot. has been taken to the hospital. no word yet on their condition. but we don't have any word who the shooter was or whether that individual is in custody of the police. we'll bring you updates as they come in. >>> meanwhile amazon hitting the pause but done. the e-commerce company now halting expansion plans in seattle because that city council is considering a new tax that would charge large employers in the city i

les moonves thinks it is always been that way. he tried to dilute her out of controlling stake in the company. a judge with this ruling basically says, probably can't happen this way. you know, she is free to fire everybody. i think what is interesting about this is two things. number one. >> it was an audacious play by moonves. you ever see the battle of the bulge? world war ii, that last-ditch attempt for germans to take control of the war going across the ardens, that like failed many ways. neil: very good. >> it was audacious, brilliantly executed, came this close to winning. one of the problems he has, the delaware court, the chancery court is mostly used to adjudicating proxy battles and more mundane sort of disputes, corporate disputes, not whether you can take away ownership, essential ownership from a family-controlled company. that is what he is doing. i don't think they want to get involved in that. on other hand he made a good case, listen in the bylaws of cbs. sumner redstone, shari redstone's father created this, two

reporter: a win today for shari redstone a loss for les moonves. we'll see what happens next.tely drags on. the judge declined to issue a restraining order against redstone. she is firmly in charge. she could come in, fire the board ever directors if she were to choose that just so happens, in 20 minutes there is a board meeting supposed to start. we'll see. the statement from cbs we received earlier, while we're disappointed the judge did not grant a tro, the ruling clearly recognizes we may bring further legal action to challenge actions by nai, national amusement company. that we consider to be unlawful and we will do so for now though the takeaway if you're following all this drama, redstone stays in control. the board is unlikely to dilute her stake as was the plan even if they move forward with the vote, unknowns, will she fire directors? what happens to moonves? does the merger move forward with viacom? moonves loses this fight and speaking to analysts he has committed advance, he run cbs well, advertisers like him, he gets paid at least $150 million if he is fired. tha

coo tould set up the cbs oversee les moonves.y ventures and shareity landlord will the hotel for mesenteric group, unless the remaining owners exercise the right of first refusal. the acquisition is in relation for the hotel until next week's expiration. that is your business flash update. joe: coming up, but you need to know for the week ahead. this is bloomberg. ♪ week.. stocks in the coming up, nafta talks continue in washington. atcity are coming thursday 8:00. for what youit missed. >> you're watching bloomberg technology. the nrat trump address convention in dallas curated >> your second amendment rights are under siege. be under siege as long as on your president. says paymentsni to president trump's attorney michael:. a campaign donation. he also says mr. trump have the authority to fire at james comey. -- deral judge he suggested prosecutors to metaphor too get seeing against the president.

david: she keeps giving concessions to les moonves and he says it's not enough.- round of concessions is that he doesn't have to be on management and can be on the board, but cbs is pushing back on that point. that is where she is getting fed up and ultimately she will have to decide how far she wants to push it if he really does want to bring the companies together. she has wanted to say that they should decide themselves. cbs has said they understand strategic rationale, but they do not want to do the deal. david: more drama going on in media than i can remember. we are probably going to have a bidding war as a practical matter. paul: i think so. if you are brian roberts of comcast, the same reason bob iger wants to buy fox, the same thing applies to comcast and brian roberts. the have the ability to lever up. they can get the shareholders a clear path down to deleveraging. the stock has gotten crushed since he started announcing his intentions here. is shareholders really don't want him to make this deal. david: that happened when they made that bid for disney

>> stock lost 4% today in reactions of delaware judge's ruling against ceo les moonves, in favor of redstonedge refused to grant cbs a restraining order against redstone preventing reducing her voting power the judge found cbs would not face harm without a restraining order because of the redstones forcing a merger with viacom or remove directors improperly, cbs would have other legal options national amusement said, quote, the court's ruling represents a vindication of the right to protect interest as we intend to demonstrate as the case proceeds actions of cbs and special committee amount to a breach of fiduciary duties with no regard to the significant risks posed to cbs and its investors cbs said, quote, the ruling clearly recognizes we may bring further legal action to challenge any actions by nai that we consider unlawful. we will bring such action if needed now, cbs is moving forward with the plan for a board meeting coming up at 5:00 p.m. at its new york headquarters, so what's next after that? well, cbs's special committee recommends against the merger, redstone could sue the board,

it's not a company of the future it's a media company that's barely been holding on, and les moonvesar playing stick-it-up with the redstones i give that to him they are good. they are really good >> thank you very much for joining us >> sure. >> i would have loved to have got a word in there, but it's hard >> it is hard. we'll bring you back and we'll do it again. >> thank you >> appreciate it, nevertheless, have a great weekend >> my pleasure >>> energy etf rallying for a tenth day, and fast money traders say how they trade this power play first, though, discussing whether fears of artificial intelligence killing jobs are on target or overblown. that's still to come let's stop talking about diversity, and actually be more diverse. as investment management professionals, let's measure up. cfa institute. cfa charterholders have proven themselves by passing one of the most rigorous exams in the world. demand the best. demand a cfa charterholder. cfa institute. let's measure up. >>> it fell to 1.71 million getting unemployed benefits, lowest since december of 1973. the job market is in

through the improv, that bartender you saw, eddie burke, replaced in 1979 an aspiring actor named les moonvesto be a bartender since 1979, that is an extraordinary achievement. >> he is a great guy, eddie burke. >> i want his stories. >> pull up a stool one night and you'll have a great experience. >> all right, jamie wax, thanks so much. >>> no woman driver has posted a better finish at indy than danica patrick. on the eve of this year's race, dana will meet up with her as she gets ready for one last try at the checkered flag and we'll find out what's in store for her now that her racing career, this is amazing, comes to a close. >> i get excited. it's sunday fun day. oh, my god, it's a weekend, it's saturday. people are like what's wrong with you? i'm like you have no idea. like i don't know what it's like to have weekends. >> i know that feeling. >> you're watching "cbs this morning saturday." >> announcer: this portion sponsored by toyota. let's go places. the 2018 camry. toyota. let's go places. ( ♪ ) face the world as a face to be reckoned with. only botox® cosmetic is fda approved to t

. >> this is whether -- >> viacom will be second in command to les moonves >> and les doesn't want him in that role. >> it's that he doesn't like the idea of a proxy sitting right next to him reporting on what he's doing to sherri right? i'm not saying that's what bob's role is, but that is the concern people have. he also, you know, les works well with joe ianella. he says in order to take cbs and viacom to get the higher fraction value we need to get, we need to keep the team in place. it's not putting puzzle pieces in place >> how long has that developed that schism? i thought of les as being close to sherri. in the past, she has been his champion over time i can understand him not wanting to feel like anyone is looking over his shoulder. >> it is a surprising development. here's the thing les is at the point of his career where he's like, i don't need this. i want to go out the way i want to go out. i think that's a key part of it. but going back to the media merger stuff, all the decisions come down june 12th. that will set off a lot of other dominos. figuring out disney reupping