les moonves has done a tremendous job as those stats say. that being said, i can see the value argument in viacom, too, because it was mismanaged for a long period of time. now you got this turnaround story. if you want the juice, you got to go to where the disruptions happen. >> it's because they have the distribution as well i mean, could that also be a cable company like a comcast >> let's take netflix, for example, right i've been a skeptic of netflix but for $9.95, $12.95, you're dmefr going to get rid of that it's disrupting the entire space. for the time being, that's where i want to be. >> ultimately i'm going to go back to netflix as a fabulous transition medium, conduit, whatever you want to call it, a pipe i'd rather own disney, has four, five levers they can pull. they've been able to get back to it i agree with your disrupter comment. i'd rather have google what you just said is why you have to be giving a look to at&t, verizon and comcast. these guys control the distribution as well and they're controlling it on either side. ev

on top of that, les moonves has done a good job positioning the company for the new media world, hasest advertising and has the best programming, has done a nice job with the all access, and now with the directv they are on all the skinny bundles which you really have to be on going forward. >> tom, why don't you like it? >> well, you know, they are going to have probably -- they are going to post a pretty decent number but a lot of that is because of the ncaa, so if you back out the advertising from ncaa an the extra nba games, ad revenue will probably be flat. >> what's happening with ad revenue over the sector? viacom shares dipped sharply off its reports? cbs is still 50% revenues coming from that. >> it's 50% and going down each year it's been a tough environment in the ad industry and for the traditional media companies on average, advertising is down 1%, 2% on an ales-to-apples basis for the second quarter. >> tom what, were you going to say? >> what we're shearing that most media companies are talking balance very healthy numbers out of the up fronts gains at cpm fees and vol

les moonves would be interested in cnn just last month. bob iger disney at abc, mark zuckerberg, bezos and charlie ergen of dish network. we know that at&t is not interested in the news business, it's not part of the strategy, it would make sense on all fronts and we know what mr. trump thinks of cnn as well, make sense to divest themselves and time warner has "tmz," and there are rumors they would divest themselves of cnn and "tmz," they will get a final say at the end of next month when the department of justice puts out the report on the conditions needed to get this done. liz: what's ironic, ashley, be careful what you wish for because whoever buys cnn, les moonves is no dummy. >> absolutely not. liz: each of the ceos are brilliant, they will make it bigger. by the way, you don't have to have a big network to make a ton of money. you know how much money cnn makes in advertiseing? a well, well-greased machine. >> a lot. liz: the perception is president trump would be a business leader who would allow mergers and acquisitions put through

. >> les moonves announced cbs all access and showtime continue to grow beyond expectations and are tracko surpass a combined 4 million subscribers by the end of the year. also expressed that all-access will expand into canada next year and cbs is working on a new direct to consumer sports service. >> later this year, we will roll out a 24/7 live streaming channel like cbsn for sports as part of the ongoing ott strategy it does not yet have a name. we think sports fans are looking for something like this, and that opportunity is significant. >> an moonves saying they're getting credit for viewing for a long period of time, up to a month after the show initially airs cbs now drives less than 40% of its revenue from advertising as it diversifies away from reliance on the volatile ad market back to you. >>> meanwhile, disney is poised to reveal its earning. make sure you tune in at 22:0 with an interview with ceo bob iger we want to go back to the conversation about valeant, joining us on the line once again from chicago just a couple minutes ago, you made the point this is all about the out

les moonves, i call him more moonves.great quarter the mayweather versus mcgregor, price increases high single digits, 54 series, final four taking up 7% the thing that i really, really liked about this thing, this is a veiled netflix it's got a netflix feel. 54 programs. >> i know they have transferred transformed to a certain extent the company from being the most reliant on advertising to so many other revenues. >> 60/40 nonads. >> and/or air to the likes of a netflix and the other providers. >> right >> this has become an enormous revenue source, of course, license and fees they get re-trans, they get reverse comp there's so many different ways and now cbsn, $5.99 a month, i think. >> i know. >> and you get showtime obviously. you mentioned this fight coming up, mcgregor, whatever >> i love showtime >> they're going to offer that to nonshowtime subscribers over the top. one would expect that would help had them.. >> yes >> they didn't break it out. they have 4 million total between showtime streaming and the cbs and s

les moonves was at sun valley last man, saying yeah, i'm interested in cnn we're getting ahead of ourselves. bottom line, opposition from president trump when he was candidate trump, steve bannon, all that said, appears under certain conditions, this deal, $85 billion could get some sort of a green light at the end of next month, guys. the last really megadeal in this space was comcast buying nbc universal back in 2011. david: another media deal. ashley, thank you very much. >> sure. david: carol and paul are back. paul, for all the talk you heard from candidate trump, even some when he was president he decided not to put his thumb on the scale at end of the day, on the regulatory scale. i think that is a good thing. what do you think? >> no i think you're exactly right. for the justice department to get this far along in the deal, if there were critics in the white house to stop it they weren't very effective. i suggest sheldon adelson, paul singer might buy cnn that would be nice. david: that would be interesting. carol, cbs want ad cable news network for a long time. is this the tile? >>

so we've seen jeff bewkes doing this, les moonves and bob iger giving us a glitches of future.ll: hbo went a la carte with its app. that was a big deal. espn to do the same, very big deal. nicole thanks. >>> big deal politically comments from mitch mcconnell, the senate majority leader. really riled up a number of republicans, particularly supporters, loyal supporters of president what he had to say. we'll talk about excessive expectations coming up next. ♪ i had frequent heartburn, but my doctor recommended... ...prilosec otc 7 years ago, 5 years ago, last week. just 1 pill each morning, 24 hours and zero heartburn. it's been the number 1 doctor recommended brand for 10... ...straight years, and it's still recommended today. use as directed. potsc(in unison) drive russ, leland, gary: yes. gary: i have a ford f-150. michael: i've always been a ford guy. potsch: then i have a real treat for you today. michael: awesome. potsch: i'm going to show you a next generation pickup. michael: let's do this. potsch: this new truck now has a cornerstep built right into the bumper. gary: sup

i wonder if les moonves knew they were coming with the streaming service because cbs announced a similarce. didn't have a name or launch date, just throwing that out there that that's coming. >> and it wants to show that every company knows the correct that they have to do they have to be in position to try these things it's not let's just throw this out there type of moves but investors will say is it going to be fast enough? will the transition be smooth enough that we can sort of overlook the fact that the legacy business is in the retreat. >> disney down 3%. interestingly netflix shares are getting hit in the after hours there's the trade, down 4.2% right now. disney come after netflix. >> that would be the disney-branded portals of content, not the sports because netflix explicitly -- i know that there's a piece out thereto and disney is a service. you can subscribe to disney in every one of its forms, including them to parks. that's down the road and the bamtech addition, they have been very high on that for a while. >> disney had to announce something and they did the espn announc

in fact, les moonves says it'll start in the canada first and then expand to all access abroad. it's up almost 25%. and we'll also watch for everything mayweather/mcgregor. that is on the 26th of august in las vegas are. cbs says a pay-per-view will have that directly available to the consumers through the showtime app. you can stream that. and also keep it here on fox business to watch for disney. it reports after the bell. ♪ ♪ ♪ whoa that's amazing... hey, i'm the internet! i know a bunch of people who would love that. the internet loves what you're doing... ...so build a better website in under an hour with... ...gocentral from godaddy. type in your idea. select from designs tailored just for you and publish your site with just a few clicks-even from your... ...mobile phone. the internet is waiting start for free today at godaddy. stuart: comedienne chelsea handler, she suggested there should be laws against, quote, people who think racism is funny. larry elder, salem radio nationally-syndicated talk show host, is with us now. i don't know what she proposes, but it sounds lik

on the earnings call, ceo les moonves says that cbs plans to launch a live streaming sports channel later>>> another stock on our radar is allergan. jim cramer sat down with botox maker ceo last night frank saunders telling jim two new types of customers are promising for the future >> we see two new groups that are starting to emerge millennials. which only account for maybe 10%, 15% of the 3. and males which also account for 10%, 15% both relatively new to the 3 million group. but growing quickly. and so, yes, maybe the selfie generation has a lot to do with it >> shares of allergan are up around 15% year-to-date. >>> a developing story overnight. google has fired that employee who wrote a controversial internal memo about women in technology the engineer's ten-page manifesto asserted that women have biological differences that prevent them from being as successful as men are when it comes to technology and engineering. google did in the confirm the firing but in an e-mail to multiple news outlets software engineer james demore says that he had been dismissed for what he called quote pe