you'll have les moonves on in a few minutes.er something like hbo, call les and get showtime in a commercial arrangement, i don't need to own the content in order to provide that to customers. >> you're not concerned about the competition -- ledger and t-mobile, they recently did this netflix deal it does appear there is -- there is incentivizing going on and you have relied so long on the quality of your network but that might not be enough to move somebody to you as opposed to go to one of these other providers. >> i don't know that you have to give away something that has value in order to sell your service. and i think that's where -- that's the edges we're going around at this point let me give you the comparison to houston when that hurricane came ashore, we loss less than 2% of our cell sites. our competitors said publicly 75% of their network was down. this was a case where adverti advertising claims meet reality. at the end of the day, customers will buy based on their experience doing what they need to do, not whether

. >>> when we come back this morning, more from faber's interview, and leslie moonves of cbs. the president blocking the sale of the chip leader to chinese investors. plus, martin srehkli behind bars but not for reasons you might think. "squawk alley" returns in a moment >>> always interesting to sit down with both those gentlemen they've been connected with the endless rumors that go on, but as you know, we're in an interesting time in terms of the media and telecom industry, incredible competition, changing tastes in media, of course did speak to mcadam about the questions involving verizon's future when it comes to large merger and acquisition activity. i can tell you, as others have reported, as well. there was a serious dally between them in which verizon was examining and exploring the possibility of trying to buy charter. they didn't get there and it was clear from mcadam's comments to me that that's not going to happen any time soon take a listen. >> i think a week didn't go by that we weren't mentioned as you're going to buy disney, cbs, charter, comcast, or whoever l

moonves, i did sit down with him as well. question there is is sporting programming, the nfl a very important part of cbs of its all access product and continued concerns about ratings declines given the performance last thursday night at least i asked mr. moonves whether he was concern it had nfl is not the ratings juggernaut it once was. >> i'm not concerned sunday afternoon was down a bit but we were in the middle of the biggest hurricane in decades so when you see millions and millions of people watching the weather channel i think the nfl is still the best property on television, i'm not worried about a decline in the ratings. >> mr. moonves, as is typical, doesn't seem particularly worried about a lot of things that other investors are not sure why the stock is so weak they had a positive presentation earlier. he said the ad market is strong in terms of scatter and made the point he has made many times which is that cbs is a ben fair yish of the other very large trend that we talk about so often which is people escaping

/commencement/moonves.ommencement was brilliant, brilliant. he talked about the need to go along and get along. you can find out who moonves really is. it is a brilliant discussion it is fabulous but, anyway, what i thought was great about what les said was he's not worried about amazon. i think that a lot of people have been worried about amazon what it means for bidding. >> the fact they're streaming ten of the games that cbs is airing on thursday -- >> the executive producer is correctly pointing out that amazon gets some local ads. >> right. >> so cbs does well off of amazon that's something les moonves has been very good about i find that i'm doing some work with it. it is incredible how much work he has to do to try to explain why he's not being heard and people just aren't listening. it is amazing to me. they're not listening. >> did you happen to see the tweet from the president about espn this morning? >> what did he say >> he's moved on from the washington post, the amazon washington post, which i

no problem that's court cbs' ceo les moonves. why a skinny bundle could mean bad profits for the media giant. >>> bitcoin has lost $23 billion in market cap since september 1st. tom lee is sticking to his guns. he'll be here to make the full case for the crypto currency you won't believe how high he sees it going. >>> oracle a huge leg lower, giving up post-market gains. conference call just got under way at 5:00. we'll hear from the c suite. much more "fast" after this. is this a phone? or a little internet machine? it makes you wonder: shouldn't we get our phones and internet from the same company? that's why xfinity mobile comes with your internet. you get up to 5 lines of talk and text at no extra cost, so all you pay for is data. see how much you can save. choose by the gig or unlimited. xfinity mobile. a new kind of network designed to save you money. call, visit, or go to xfinitymobile.com. >>> welcome back to "fast money. take a look at after hours session chart on oracle, taking a leg lower just moments ago the conferenc

moonves likes to make many times, their presence on most if not almost all of those new over the top offerings the conconglomerations, 30, 40 channels being offered to consumers. i did ask moonves as well about something that is shaking up the bundle more, namely disney's decision to start its own direct to consumer offering here's what he had to say about disney's efforts >> as you look into the universe, disney said, okay, they didn't want to be part of the netflix yufuniverse, they wanted to do it themselves it's something we decided we would ago we went into this in 2015 and once again, it's offering congress te co content in different ways. people are tired of paying for things they don't watch. >> marleparticularly, bill, spo >> so i hear it's amazing when you can consider, cbs not too long ago was a broadcast television network. verizon was just a telephone company. what i call business model creep hasexponentially >> we always talked about convergence for so long. i can remember doing it 20 years. cbs has taken advertising, to your point, down to less than half of its joeover

david: if you are leslie moonves and go to a restaurant in hollywood or los angeles, does some becometo you and say, i have a script or my nephew is great for a show? leslie: all the time. it happens consistently. the thing that people don't quite understand is that it is about the execution, not the idea. er.mentioned a show like it is a hospital show come but it is what happens in that hospital show. what is cheers about? it is about eight people in a , i am uphen a guy says and i trust. you should see, our office is so funny. you got the reception is there and the old guy there, and this guy there, and it is a great idea for a show. so you politely say, here is my email. ever come anybody given set of private equity show would be very good? [laughter] leslie: well, i've seen you perform at the kennedy center for many years pure you have potential, you really do. wondered on that, sometimes the kennedy center honors, the chairman makes a little presentation at intermission, but on tv, it only comes out to five seconds. have you thought about broadcasting the entire 20 minutes of my

david: if you are leslie moonves and go to the restaurant, does somebody come up to you and say, i have script? my nephew is great for a show? leslie: it happens all the time. it happens consistently. people do not understand it is about the execution, not idea. you mention er, it is a hospital show, but it is what happens in the show. what is cheers about? it is about eight people in a bar. when a guy comes up and says, i podiatrist. you should see our office. it is so funny. it's a great idea for a show. you politely say, here is my email. david: has anybody said private equity show would be good? [laughter] leslie: well, i have seen you perform at the kennedy center for many years. you have potential. you do. david: really? well, i wonder on that, the kennedy center honors and the chairman goes out and makes a presentation at intermission but on television, a comes up five seconds. you do not broadcast it. do you about broadcasting the entire 20 minutes? is there a lot of demand for that? leslie: you are lucky we put on the five seconds. [laughter] david: companies like netflix and a

david: you're les moonves and you go to a restaurant in hollywood or los angeles, does somebody comeand say, by the way, i have a script, or my nephews 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." it's a hospital show, but it's what happens in that hospital show. what is "cheers?" 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 said a private equity show would be very 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 wondered about that. sometimes if the kennedy center

less m les moonves says it's the fastest yes. looking at price's use of planes. using private aircraft penlding a review. >>> an indiana university freshman was left behind on a school trip and accidentally locked in a cave for 60 hours. 19-year-old lucas was on a spelunking trip. they didn't know he was in the cave when they pad locked the entrance. club members realized he was missing. >> but, norah, it took a couple of days. if we all went out and you were suddenly missing, i would notice right away. >> that's kind of sad. >>> it raises the prospect of shortages. many pharmaceutical plants the island are not working. last year pharmaceuticals made up 72% of the exports. the success tore accounted for 25% of total u.s. pharmaceutical exports. >> "usa today" reports on the study. it's based on graduates' income. it includes engineering, pharmaceutical sciences and topping the list, petroleum engineering. the least, composition and rhetor rhetoric. miscellaneous, fine arts and clen cal psychology snow i was a philosophy major. i wonder where that is on the list.

you don't want to miss this, cbs president and ceo leslie moonves later plus verizon ceo lowell mcadamanging out with the gang at 10:30 eastern time "squawk box" returns after this. ? (sigh) ( ♪ ) dad: molly! trash! ( ♪ ) whoo! ( ♪ ) mom: hey, molly? it's time to go! (bell ringing) class, let's turn to page 136, recessive traits skip generations. who would like to read? ( ♪ ) molly: i reprogrammed the robots to do the inspection. it's running much faster now. see? it's amazing, molly. thank you. ( ♪ ) thank you. i'm vern, the orange money retirement rabbit, from voya. i'm the money you save for retirement. who's he? he's green money, for spending today. makes it easy to tell you apart. that, and i am better looking. i heard that. when it's time to get organized for retirement, it's time to get voya. can we at least analyze can we push the offer online? legacy technology can handcuff any company. but "yes" is here. the new app will go live monday? yeah. with hewlett-packard enterprise, we're transforming the way we work. with the right mix of hybrid it, everything computes. not rebalanc

don't miss cbs president and ceo leslie moonves later this morning on "squawk on the street" and verizon ceolowell mcadam will be on. and later on, chamath palihapitiya will be on the half time report at 12:30 eastern time this afternoon. he was great at delivering alpha. will be good to hear more of that in specific tv format >> all right some stocks to watch this morning, united natural foods reporting fourth quarter earnings that beat forecast. the company expects full-year results to come in above estimates. >>> samsung created a 3$300 million fund to invest in automotive startups and self-driving technology. the company's first investment is $89 million in tshgtete tech. >>> equifax says a web server flaw in its open source software led to the breach that compromised data for up to 443 million u.s. consumers the company's ceo, richard smith, is expected to testify before a house panel on october 3rd. nearly 40 u.s. states joined a probe into how equifax handled the breach >>> still to come, a test for u.s./china relations what president trump just did that could heighten tensions wi

trish: you think big guys like roger goodell, maybe les moonves needs to give him a call hey, fix thist this costing us money. >> that's right. trish: you have got to nip this one in the bud and get players back in line. >> think about it, for players the stadium is work place. you don't politics and religion into your work place. that is bad business. for all of us who want to enjoy the nfl, watch a football game, we work five, six days a week that is our leisure time. we don't want politics or religion in our leisure time. it is doubly wrong. roger goodell needs to take a stand. god bless the analyst at jpmorgan saying i will downgrade cbs because they will potentially lose ad revenues, by the way, trish, direct tv given fans the opportunity to cancel the sunday pass. trish: that's right. >> i applaud directv for giving people that option so that they actually get their $300 back. that was a bold move. it will cost them money. they're doing the right thing for america. i respect directv doing that. trish: adam johnson, thanks so much. >> thank you, trish. trish: twitter execs on the

another person taking a swipe at espn, yesterday cbs ceo les moonves.ns to launch a rival streaming sports app bill, certainly a hot area to watch here in terms of competition, perhaps much more important than these comments. >> of course, everybody wants to know about the ratings, julia. the cord cutting has been well documented i think 2014 to 2016, ratings down 19% so what is the latest chapter going to mean for the business, are we going to see those kind of declines tonight? >> reporter: well, we've heard a lot from disney ceo bob iger, also from espn about how they're trying to connect with people digitally. espn cannot be cut separately. people can't choose to drop espn because it is part of every single cable bundle. even every digital bundle including the new ones from hulu and youtube streaming. so what disney is going to try to do to make sure that it compensates for losses is launch a direct-to-consumer espn app. they said it's going to launch in the first half of next year it's part of their investment in bamtech. the idea is they'll be abl

moonves, who said that donald trump maybe not good for america, but he is good for the network.trying to appeal to all viewers. most of the backlash came from one side of the political aisle, people who do not approve of an award show condoning sean spicer misleading the public. there is another segment of society that feels differently. scarlet: "saturday night live" won four emmys. where politics a reason for why it alienated viewers and ratings were not as strong? michaels, he was asked about whether "snl" was biased. he said we would see it in the ratings. they have had the best ratings they have had in 20 years. scarlet: our bloomberg entertainment reporter lucas shaw. we will speak with bob reynolds in our next hour. this is bloomberg. ♪ so we need tablets installed... with the menu app ready to roll. in 12 weeks. yeah. ♪ ♪ the world of fast food is being changed by faster networks. ♪ ♪ data, applications, customer experience. ♪ ♪ which is why comcast business delivers consistent network performance and speed across all your locations. fast connections everywhere. that's h

moonves said amazon is likely to bid for an nfl run. amazon is trying to take over the world. bloomberg intelligence analyst said that the verizon ceo at a goldman sachs media conference said he has no plans to buy disney or cbs. that was in an interview yesterday. that can be weighing on chairs as well. ell.n shares as w scarlet: there is a bigger story here. >> it is the trend of advertising for television going down. the merrill lynch media conference, -- there were a lot of companies talking about that. we are going to see pretty serious action. buyers in control on this one your chart. around -- on this one year chart. then, the uptrend breaks. this area of congestion could make a move to the downside. --may see more shelling selling for the shares of cbs. unfortunately, the same old story. we will continue to watch these stocks. speaking of media, "the daily show" is seeing a trump bump. trevor noah has been awarded with a contract extended to 2022 . lucas shaw, great to have you. tell us what happened here. he wasn't so popular when he first took over. he has picked up

overall week one ratings fell 13% from a year ago, but cbs's les moonves saying the nfl is still the>> i'm really not concerned. if you looked at the sunday night game, that was up. sunday afternoon was down a bit, but we were in the middle of the biggest hurricane in decades, so when you see, you know, millions and millions of people watching the weather channel, i think the nfl is still the best property on television. i'm not worried about a decline. >> well, joining us now, legendary nfl agent drew rosenhaus. drew, president tweeting about espn earlier today, you know, sports couldn't get sunk by the internet, by concussions is politics going to do it >> i don't think so. the nfl is untouchable it's just such a great property. it's like disney, it's one of those deals where people just love the nfl, like anything else there's always going to be minor fluctuations, but it's the best form of entertainment. it's the most popular sport. it's wildly entertaining there's unlimited great football playoffs, there's a never ending supply with college football the nfl's not going anywhere

last week we were talking to les moonves about that he seemed to think it takes true tent pole contentcoming back. what causes people to turn off these services and how damaging is it? >> yeah, so again we've run this survey in the u.s. for 24 straight quarters. that's six years, and we consistently ask people who've turned off the service and churned back, churn backers, why they did what they did, and very consistently the number one reason is they didn't find the content that they wanted frankly what's interesting to us is over the last five years, it's still the leading issue, but less and less of kind of a pain point or reason people churn off. and we know churn rates at netflix itself have gone from as high as 10% a month five, seven years ago to 3% to 4%. it's not disclosed by the company, but that's our best guess. the most recent show we've seen skew up high is "ozark" by netflix. all that does is keep people more likely to stay with netflix or sign on to netflix because they've heard about a new show their friends are talking about. >> you also surveyed the uk and brazil, and

first verizon's lowell mcadam and les moonves will join us and it will start at 10:30 a.m.es. we'll ask them, guys, what's the future of tv what will the chat be? >> it's interesting what battaglio said that they had to make the case for value and we were given regional monopolies because it was so expensive to lay out cable and they said you can have this one region to yourself and have competition. >> you didn't have the world of the apps. >> and you need to have a cable subscription to activate most of these apps now anyway. >> you've got to have broadband, right. >> you also have to have at least a pay plan on a lot of these to log in to some of these apps and if you're going to get a $45 all you can eat cell phone bill it reduces the cost perspective. there are a lot of stuff to work out. >> the triple play as they call it, remember >> yeah, yeah, yeah, yeah. look, it says here look at the s&p retail atf do that right now. look look right there there it is, up 5% in a month and today getting a boost from nordstrom. more on that coming up, plus massive devastation in th

this week, cbs' les moonves had this to say quote, i am turning on espn a lot and seeing people shouting at each other everybody is going towards the common model fox and sports and espn and some other channels and people debating on this if that's hurting, who's picking up the audience, if anyone >> the really important overall sports programming space because it is relative lilo cost and relatively high margin programming, it is something that gotten lost to a lot of the, you know, concerns around sports and sports right cost and other issues the reality is that if people use to watch sports center, forget about the points of view that maybe argued one way or another. they want to watch scores and see highlights it is not necessary. there is other way to do it now. that's an important element of the drag to see. now, it is true that fox sports is equivalent program is growing but from a small base. the problem is the genre commentary is falling off. >> what are they tuning into or are they tuning out? >> i think they are tuning out we don't have a unify data set to be able to say that

>> i was with les moonves over weekend he concedes next time major sports packages come up all likelihoodcombination of them amazon google, facebook. >> tough for tradition. >> going for sports, but likelihood they will go for some significant sports packages is there. >> how does win view capitalize on this, and sort of stand you know, itself to grow, while sports is also the last bastion now but who knows. >> you are seeing all this attack on cable bundle the satellite bundle already declining when you can start getting sports programming free on the internet, what is that going to do in terms of accelerating decline what is going to happen when viacom discovery one pattern as you say start offering a nonsports skinny bundle for a very cheap price? what is that going to do about further did he sellratidee acceleration what do they need to do figure out a source of revenue they need to find a way, that really not only engaged viewer more, as anybody on the google, netflix facebook side is going to need to do they need to engage advisories more younger audiences want a associate experien