this was not a surprise really, as long as mr murdoch gets rid of sky news.been a pretty torturous and long process. murdoch controls fox and owns 39% of sky and he led for all of sky 16 months ago and since then, various regulators have been looking at the deal, wayne it up and politicians have come forward and objected to it, so the move today, that was the end of the process. now we will have a huge bidding war. hancock said that the murdoch bid can go forward provided sky news is sold. disney said it wanted to buy sky news, disney is also trying to buy fox, but as far as sky is concerned, murdoch and fox are one side and comcast on the other, the largest cable company in america and it wa nts s ky cable company in america and it wants sky as well. we are in for a bidding war. this is all part of the idea of consolidation in order to ta ke idea of consolidation in order to take on amazon on and facebook in what is a globalised media world. so, some of the biggest names in media, are all looking at the future and wondering where they fit in because netflix

it would leave the murdoch family as a major player is there a sense in london, arash, that the murdochsre willing to bow out as you have said basically take the money and run for lack of a better term. >> i think if you use the past and the big cottage industry of following murdoch, that's not in his dna. he is not a man driven by money. i think he's driven by power, influence, success if you read those behavioral tactics of his career into his thinking, you have to ask yourself is he genuinely more interested in the cash offer from comcast or if disney sweetens that bid he will be driven by that the interesting angle here, leslie touched on that when she spoke earlier, an activist investor from london, christopher hahn, a big name in the hege fund world in europe, he's built a 7.4% stake in comcast. he revealed it last month. he said i expect the murdoch family to do what's best for their shareholders and not personal tax considerations. that's a big dynamic to throw into this. you can imagine the investor community will be vocal if they get the sense that murdoch is leaning towards a

it is not all up to the murdochs. the shareholders would wa nt the murdochs.s would want the comcast bid but it depends on what happens after this first round. write—down of its 65 and 55 but i think those numbers will go up and that is important. and that is why i think 2ist and that is important. and that is why i think 21st century fox will consider the bid. we have been seen for some time that this is going on in the media industry because of this rock is like netflix. how we now choose to consume media as well, thatis now choose to consume media as well, that is radically different. it is the cutting of the cord. remember, from an anti—trust perspective it is not that big a deal that you see cable and that sort of traditional distribution merged because it is a shrinking business. 79% of consumers in the united states used cable or satellite, the traditional distribution. it was 88% nine years ago. that business is shrinking. it is about content. but for consumers it is great in one sense, we get new and original content that we love to see from independe

original originally made a prior bid which was rejected by rupert murdoch.k about.portant point to they make the point in this press release, they say that 70% of 21st century fox's assets or revenue, rather, are outside of the united states. that's an important point because it's a signal to washington and a signal to investors that they think that this deal would not be blocked of course, one of the main reasons that rupt murdoch took the original disney offer which was lower than the comcast offer was becae of concerns that this transaction would be blocked and the fact that mcast did not have a reverse breakup fee on the table at the time, by the way, we should say that the comcast bid that was rejected was an all-stock bid. this is an all-cash bid. this does not require the vote of shareholders. and al day, we have watched the disney stock and comcast stock and 21st century stock move around. lots of questions about what shareholders are trying to say in all of this the fact that disney stock did not go down today actually raised some questions about wh

i don't think, i don't think even the murdochs, i don't think even the murdochs would have anticipateden. he said labour's priority was to safeguard sky news. from kay burley, to adam bolton, sky news has some of the best presenters on and has always been a beacon for independent and rigorous journalism. our priority is protecting that and ensuring sky news going forward. it has taken some time to get to this point, but that consultation and the further concerned that have been raised must be addressed robustly, because in the public interest given everything that's happened, in terms of the scandals and the families that have been damaged by some of the behaviour of the organizations, it must be considered in this process and merger. i wanted to speak mr speaker, being a formerjournalist most of my life because i think we should speak up for maintaining high—quality news and journalism and that should be at the heart of this decision. we are famous for it in britain. we need competition and we need sky news still to be giving its professional services especially in the day of fake new

fox's owner, rupert don't —— rupert murdoch, it is a better dealfor —— rupert murdoch, it is a better for you. one imagines —— rupert murdoch, it is a better dealfor you. one imagines disney will have to come back to the table and offer more, maybe some cash. theirs is an all stock merger with fox. it means the battle is not com plete fox. it means the battle is not complete and we do not know yet who will win, but somewhere there will bea will win, but somewhere there will be a new, huge player with a distributor and a content provider coming together. good to talk to you as always, kamal ahmed. the classic video game tetris has been a hit for more than three decades — but it's now heading in a new direction. i still play that on my phone on the tube on the way home! a veteran developer has reimagined the game in virtual reality. he's been speaking to our north america technology reporter dave lee. the music is kind of like a pulsating soundtrack that's getting gradually louder, i think. it's quite hard to hear with the convention, but i can imagine if you were sat at home in a nice,

be likely the most effective remedy for public interest concerns and those concerns are about the murdoch family trust and the influence it already has over british public opinion and politics through its other media holdings namely the newspapers the sun the times and the sunday times so murdoch will be happy with that decision but where does that leave disney and comcast both of which have been eyeing the company as well yes come cost has also been cleared by the u.k. government for sky there were no competition or public interest concerns found with them and comcast is currently out bidding fox for sky shares meanwhile disney is negotiating with murdoch for all of fox's entertainment holdings not includes the thirty nine percent of sky which fox already owns now this will likely mean a bidding war between com cost and disney who both see sky as a door into the european market you've also been following a story about social media use in uganda and government policy pertaining to it yes the government in uganda has passed a law which imposes a tax on social media uses so for next month a

available and consumed by the public and second, the possibility of an increased influence of the murdochrust over public opinion in the uk's political agenda. the cma has used a clear and logical approach and taking into account the ofcom's media plurality framework. they have taken great care to update a wide range of written and oral evidence and i agree with this finding as well. where the cma makes afinding finding as well. where the cma makes a finding that a merger is likely to operate against the public interest they are then required to consider what remedy would be appropriate. to address the plurality concerns, the cma considered a range of options including those proposed by the parties, specifically firstly a firewall of behavioural commitments to insulate sky news from the influence of the murdoch family trust, second a ring fence where sky news would be structurally separated from sky but still owned by fox along with the same behavioural commitments. by vesting sky news twisted but the party and forth, prohibition of the transaction as a whole. i have considered the cma's

people familiar with the murdoch trust. there's no way around paying this tax if it's done in cash.tock, you simply transfer the value and this is no tax but you can bet there's an army of attorneys working on this right now. i bet even murdoch doesn't know exactly how much tax he's going to owe in this deal. >> nice problem to have though >> thank you when we return, as music streaming grows, how does that complicate the relationship with artists and musicians. iconic q tip has an answer that might surprise you >>> don't miss the interview ath snap's ceo. were back in a moment. it started with a discussion, then a decision and now you're working toward something together. can you afford it? is it the right time? yes. and you feel good about it. because you're doing this for him in return for everything he's always done for you. at pnc, we're here to help you take steps today to make a plan to borrow and stick with it. bienvenido a casa, papá. pnc. make today the day. >>> getting some breaking news out of washington. for that, we'll go to. >> trump campaign chairman now be sent to j

be likely the most effective remedy for public interest concerns and those concerns are about the murdoch family trust and the influence it already has over british public opinion and politics through its other media holdings namely newspapers the sun the times and the sunday times so murdoch will be happy with that decision but where does that leave disney and comcast both of which have been eyeing the company as well yes come cost has also been cleared by the u.k. government for sky there were no competition or public interest concerns found with them and comcast is currently out bidding folks for sky share meanwhile disney is negotiating with murdoch for all of fox's entertainment holdings not includes the thirty nine percent of sky which fox already owns now this will likely mean a bidding war between com cost and disney who both see sky as a door into the european market you've also been following a story about social media use in uganda and government policy pertaining to it yes the government in uganda has passed a law which imposes a tax on social media uses so for next month anyo

the murdochs have a lot of sway.a scenario where they were close to agreeing to a deal and it was contingent on someone getting a certain role i am sure that could be discussed. disney have already established what roles they could take on. i think murdoch has said he sees more upside in disney as an asset. then he does with comcast. the comcast offer is substantially significant. scarlet: why is everyone desperate to go after fox's assets? is murdochs empire. people have always coveted this stuff. it may be a sign that this is the worst time to buy but once someone has acquired these they are not coming back up for a long time. if you are going to buy these assets are going to buy them now. when it comes to the market it is because it is a great seller's market if the -- we lose that opportunity. the pace of disruption is such that people are trying to get in -- they every person had some dominance in the space. asset emerges.r billion, maybe 90 billion, let's just throw this on the table. . would love to see murdoc

why is james murdoch more attracted to disney?> the culture is more in keeping with the fox content assets. iger is the greatest manager on earth. i think they would much prefer to be owned by the walt disney company than comcast. emily: does comcast have another move? laura: i don't think so. i think you will see the higher price being taken. i think you will see the vote go for the comcast bid. this could be overruled. emily: a showdown could be coming. what you expect to see in terms of how this plays out? >> analysts are speculating in terms of a share price offer. the play could be something that is fairly unique and attractive, to build upscale in hollywood and differentiate yourself -- up scale in hollywood and differentiate yourself. but those companies want to win this group of assets. i don't think these companies will be giving up anytime soon. emily: can this combined entity compete with the likes of netflix? >> the question has come out, why are these media legacy businesses buying more legacy assets? murdoch thought

comcast makes a $65 billion hostile bid for rupert murdoch's entertainment business, setting up a biddingar with disney. also in business briefing, markets in asia are flagging as the federal reserve raises rates and signals two more rises this year. a warm welcome to the programme, briefing you on all you need to know in global news, business, and sport. and you can be part of the conversation. are you excited about the world cup and who do you think will win. tell us what you think. just use the hashtag bbc the briefing. seven and a half years after it was controversially awarded the football world cup, the tournament will officially kick off in the next few hours when the hosts russia will take on saudi arabia in moscow. the russian team is the lowest ranked team taking part in the tournament but after all the controversies off the pitch it's hoped events on the pitch will finally start to dominate. lucy hockings is there for us. live to moscow. as you said, the excitement, the anticipation, not long to wait now. when we arrived in moscow on the weekend, we were a little bit concerned

that was the stated reason why murdoch accepted the disney offer.ally the rug was pulled out from under that with the time warner/at&t decision so they had to come up with a plan b, and i think the only plan b is money. who is going to pay more i felt this is going to turn into an old-fashioned bidding war. now i think the question then is, who can afford to pay more comcast or disney? disney has a long track record of paying up for intellectual property everybody thought they overpayed for pixar, overpayed for marvel, but those things have paid off for them and they have been very skillful at leveraging fresh intellectual property. >> although those deals were, what, $4 billion, $6 billion i mean this is $71 billion >> right. >> those are also deals that fit right into an existing business. this is trying to incorporate some things they don't do necessarily well now >> well, yeah. you're absolutely right. this is, a, a much bigger deal and those were almost pure intellectual property deals. the goal was to get the creative talent, the brands, the t

i don't know if rupert murdoch comes with the deal.ou get him when you come in it will be tough for disney to compete with it in terms of money and power to do it that said, rupert murdoch is the one who benefits here, most of all. essentially, people are bidding to make him richer than ever. >> that's right, and that is a huge premium not just in the 20% but all cash don't forget why fox is selling. it doesn't like the future now you're rinsed of any responsibility for the future. you take the cash. you're done. so, it's a huge premium. i assume disney has a tough time matching that. >> yeah. because he would have to own pieces of disney and if he wants to stay in the entertainment business but you take all that money and he's focused on his tv station and fox news and things like that. >> and the other thing that's very interesting here is the bet that murdoch is making is exactly strategically the right bet about the future of television and media, which is if you look at what will sustain itself in linear television, it is news and

murdoch said no and is selling his assets as well. julia: the all stock offer we have from disney, what does disney do now? here,the premium you see it covers the tax leakage that the murdochs will have in a cash for assets deal. disney i suspect will raise its price. you will go to $35 per share but i think they will play up thathey believed they had a quicker time to close than comcast would have. i think they will play up the fromthat pro forma cpa disney and fox is a better collection of assets. joe: can y explain why the i think the regulatory is going to be massive for both of these companies. i think they feel like they might be earlier but at the end of the date the are going to play up the fact that they have pro forma. rupert murdoch has indicated that he feels more comfortable owning the disney paper than the cash that would come from comcast. whether comcast amends its bid that will be eligible fothe murdochs, will s. the is the early innings of saga that will play out. julia: in terms of the cash flow benefits and outflow

, and murdoch would have to pay a federal capital gains tax on that and since murdoch lives in new york has to pay the city and state income taxes so his total tax bill on the $11 billion could be as much as $4 billion but there's more he could also have to pay a tax on that new company that was hold the remaining fox assets. that would be a dividend tax that could be anywhere from between $2 billion to $3 million more, so all in all, the murdochs could owe up to $7 billion in taxes on this deal now, he would not pay any tax with the disney deal that would be entirely with stock but if disney did sweeten its deal with even a little bit of cash, the murdochs would still have to pay that $2 billion to $3 billion dividend tax the board will act in the interest of all shareholders, kind of implying that it's not the taxes that will drive his decision it's really what's in the sbes interest of the company but it's hard to ignore a $7 billion tax bill >> that's pretty steep >> that is steep >> where does he hold his money? is it in a trust >> it's in trust, and many people -- i included, thou

but yes, the murdochs have an influence here.st made an approach to the murdochs late last year, but they rejected that proposal, even though it was at a higher price than disney. but, the fox independent shareholders have a say as well. francine: what does it mean for u.k. assets? joe: the market seems uncertain. some people think that if comcast is going after fox, it gives them less firepower to bid for sky as an asset. disney might also have less appetite for a big big versus sky. it has gone down a bit, but it is hard to call at this point. francine: what the regulators want? perhapswe have seen, vertical mergers are permissible and in the cards now. that might be why comcast has felt emboldened to come forward with this offer. they sounded pretty confident less night, so hopefully this is good from their perspective. francine: this could last six months? well, the comcast ceo said it could be done within a year. but there are a crucial few weeks and months in terms of who will fox support? and on the sky process, will there

that lowers the tax burden, which was a big concern mentioned by rupert murdoch.er advantage of this deal on disney's side is murdoch has talked fondly of the company and wanting his sons to be involved in that. that is another plus that hasn't been settled yet, but something that is out there as a benefit for this kind of deal. it is not a done deal yet. they had originally said they would meet with investors on july 10 to consider the previous disney offer. they said that is delayed. comcast does have some time, but if you are brian roberts, there is a lot of pressure. and was a very strong bid fox has already said they have agreed to it. there is a lot of momentum on their side. comcast will have to come back with something pretty big. comcast stilldoes have in its favor to counter the disney bid? dave: well, they have a strong balance sheet. it has been a well-run company, they have been doing great. the share price hasn't necessarily reflect the data. analysts expect a cash bid to be north of $40, something like that. just come in with more money is their bes

>> i'd like to give rupert murdoch credit for creating this bidding war.s, he genuinely wanted to merge with disney he liked the idea of owning a major part of that company i think there was an opportunity early on at least in the minds of the murdochs for james to take a role at that company. i think there were a lot of reasons they were doing that i don't think they were doing it to get this bidding war going. having said that, i think he played his cards particularly well in this instance. one comment that's worth noting in terms of how as we look at the release just now, there's a collar on the stock part of this deal which -- >> we mentioned that >> -- now creates -- it effectively means that the disney shares become the equivalent of cash i think that's a very important component of this. because one of the big issues, of course, throughout this has been assuming that comcast comes back with more cash, are you better off with the disney stock? is the disney stock potentially worth less in the future by putting that collar on it, i think that takes th

summary hang kong britain's secretary of state for culture last tuesday gave the green light for murdochto bid for all of sky t.v. but only if he sells the sky's twenty four hour news channel in britain sky news now and said that it would be likely the most effective remedy for public interest concerns and those concerns are about the murdoch family trust and the influence it already has over british public opinion and politics through its other media holdings namely newspapers the sun the times and the sunday times so murdoch will be happy with that decision but where does that leave disney and comcast both of which have been eyeing the company as well yes comcast has also been cleared by the u.k. government for sky there were no competition or public interest concerns found with them and comcast is currently out bidding fox for sky share is meanwhile disney is negotiating with murdoch for all of fox's entertainment holdings not includes the thirty nine percent of sky which fox already owns now this will likely mean a bidding war between com cost and disney who both see sky as a door in

be likely the most effective remedy for public interest concerns and those concerns are about the murdoch family trust and the influence it already has over british public opinion and politics through its other media holdings namely newspapers the sun the times and the sunday times so murdoch will be happy with that decision but where does that leave disney and comcast both of which have been eyeing the company as well yes come cost has also been cleared by the u.k. government for sky there were no competition or public interest concerns found with them and comcast is currently out bidding folks for sky share meanwhile disney is negotiating with murdoch for all of fox's entertainment holdings not includes the thirty nine percent of sky which fox already owns now this will likely mean a bidding war between com cost and disney who both see sky as a door into the european market you've also been following a story about social media use in uganda and government policy pertaining to it yes the government in uganda has passed a law which imposes a tax on social media uses so for next month anyo

be likely the most effective remedy for public interest concerns and those concerns are about the murdoch family trust and the influence it already has over british public opinion and politics through its other media holdings namely newspapers the sun the times and the sunday times so murdoch will be happy with that decision but where does that leave disney and comcast both of which have been eyeing the company as well yes comcast has also been cleared by the u.k. government for sky there were no competition or public interest concerns found with them and comcast is currently out bidding fox for sky shares meanwhile disney is negotiating with murdoch for all of fox's entertainment holdings not includes the thirty nine percent of sky which fox already owns now this will likely mean a bidding war between com cost and disney who both see sky as a door into the european market you've also been following a story about social media use in uganda and government policy pertaining to it yes the government in uganda has passed a law which imposes a tax on social media uses so for next month anyone

fox hunted: comcast makes a $65 billion hostile bid for rupert murdoch's entertainment business — settingp a bidding war with disney. plus in great shape: the federal reserve hails a booming us economy. it raises interest rates — and signals two more increases this year. was enough to not financial markets in asia. you can see these markets down as asia weighs up more movement from the fed and its hawkish position. so once again we start in the us — with a massive hostile takeover bid for rupert murdoch's fox entertainment business. late on wednesday the world's biggest cable tv company comcast made an unsolicited $65 billion offerfor fox. the move is a direct challenge to rival media giant disney — which had already agreed to buy fox for $52 billion in shares. as paul blake reports from new york, they are both battling to adapt to our changing viewing habits. this $65 billion mega deal would see the merge of some of the world's biggest television and movie brands and it's the first attempt of many to merge content with distribution. many viewers are ditching traditional services for onli

timed to perfectio rupert murdoch and his mily they can't lose here they have a fight over the crownewels, and then the plan for new fox, with fox news and the broadcast network in the u.s. and possibly merge that back with the murdoch newspaper group, news corp so theily is sitting high, and evyone wants a piece of the assets. >> the headline is the judge approved the deal, but the subheadline is there were no conditions there were numerous expectations that the deal would be approved with a number of conditions, so many conditions that the deal would look unattractive. not the case at all. the judge in new york said deal approved with no conditions. that in itself is a major piece of news. thi your reporter said stunning rebuke of the trump administration so, the consensus for decades has been vertical mergers were okay, possibly with some conditions the trump administration tried to toss that out saying this is not right. we won't do this the underlying reason, we reported this and others did, nose to cnn antime warner rati because they've been unhappy with cnn's coverage of the a

but rupert murdoch was to align itself to disney. hard cash speaks volumes.nt over and above the paper deal, receiving shares, disney is so substantial it would be hard for fox not to say we're going to change our mind and run with comcast. but i think there's a broader issue in all of this, interesting, the netflix share price was at yesterday. many people had assumed that the netflix shares would go down because the integration between the manufacturers of content as distributors would make them much more competitive against netflix. the market is saying, no, netflix remains number one in terms of content on hbo is a distant second and everybody else is nowhere. despite game of thrones! that's right. netflix coming on the scene, that's the whole point, all those yea rs that's the whole point, all those years ago, it was a massive disruptor. and years ago, it was a massive disru ptor. and it's years ago, it was a massive disruptor. and it's very hard for all these older, old school organisations to try and re—establish themselves, re—emerge in whatever they

long been argued that media moguls i know your one is very british i suppose for the mail rupert murdoch took british citizenship i think had to take changes citizenship to me if george soros took british citizenship and you can now buy entry into britain who knows then it will be all right i don't understand a bogus point about foreign tycoons only newspapers the times and sunday times and the sun by rupert murdoch two of those titles backed one didn't the times all the taxes are paid. in britain denouements taxes are a public company listed on stock exchange menace under all the taxes paid in britain where dishonest pays taxes sadly not hex if they were prepared to reduce the national debt by half ok why bring him into it at all corporate advertising budgets procter and gamble tens of billions samsung nine point nine nestle l'oreal these are the big advertisers multibillion dollar campaign to yourselves said it's bound to backfire we use of all of this money so why is it important that they will team out they revealed to they revealed he was bankrolling this new organization best for b

century fox, topping an offerfrom murdoch's 21st century fox, topping an offer from walt disney forld create a dominant media entertainment powerhouse. 0ur business reporter paul blake reports from new york. this $65 billion mega deal would see the merge of some of the world's biggest television and movie brands and it's the first attempt of many to merge content with distribution. as netflix and youtube become stronger, traditional telecommunications companies see these deals as vital to their survival. comcast floated the idea of for some time, but like other possible mergers and acquisitions, it was on hold. the company wanted to see the outcome of an anti—trust case brought by the trump administration against telecommunications giant at&t. that case was dismissed on tuesday by a judge, granting at&t the ability to buy content house time warner but also signalling a green light for comcast to proceed with its bid for 21st—ce ntu ry comcast to proceed with its bid for 21st—century cots. it's important to see that comcast proposal is a proposal, just that —— 21st century fox. what

and my reporting from previous days and weeks have indicated that murdoch will be quite rational hereental and certainly would not walk away from a far higher price despite what would be tax inefficiencies as we point out in the all-cash deal, and when disney does come up as i expect they will, they'll probably include cash in their deal, as well. >> well, david, did you find it interesting in the conference call that hulu wasn't stressed at all and suddenly it came up in the q and a and i think hulu is a critical part of what they want >> i think direct consumers are important for all these companies. disney is building its own and it will become an important part of its future regardless, frankly of whether it succeeds in buying fox assets and it will be important for comcast, as well i believe, jim, there was a willingness in the language that was in the press release to potentially, and i don't think comcast would say this, but at least you've got to think, okay, what if the regulators say we're not comfortable with the biggest broadband provider in the country having control of h

fox, owned by the murdochs, this has been a thing for many years, the hacking scandal a few years agothe public interest, perhaps too much interest of the murdoch family if they were to buy sky, so what they have said, if you can promise you will sell off sky news so you don't have that control, yu delu is free to go ahead. as a matter of fa ct, free to go ahead. as a matter of fact, they have already arranged to sell sky news to disney who are awaiting in the background to take over fox —— you are now free to go ahead. soa over fox —— you are now free to go ahead. so a lot for disney to gobble up, but then there was a gate—crasher to the party, comcast in the us who comes in and says, actually we want to buy sky, and now actually we want to buy sky, and now actually we want to buy fox as well, so actually we want to buy fox as well, soa actually we want to buy fox as well, so a real game of thrones, and obviously huge personalities. and one of the sky personalities said that rupert murdoch, remember, in his mind has already sold sky, so whatever happens it will have a new owner. it w

emily: that would be run by lachlan murdoch. how do you expect the personality side of the equation to play out on the disney-comcast-fox side with james murdoch, bob iger, brian roberts? >> you are right. i think it makes m&a very complex, because you are dealing with the personalities, family ownership, and generational wealth planning. that complicates things. for comcast, they really have done a good job at really steering m&a in a way corporate governance has not been a big issue. i think the ceo has done a good job at appointing people to run different silos of the business, cable and nbc, and taking a step back a way from being a family run business, if you will. emily: amy yong of macquarie capital, and gerry smith for bloomberg, thank you. the parent company of snapchat is making its first big foray into working with outside developers, putting privacy at the forefront. as part of the relationship, snap said it won't share any personal data on users or their friends. coming up, the european fintech firm gives details on

helmi understand it from rupert murdoch, is it who ever offers most orare murdoch, is it who ever offerswould say yes to one company over the other? there are other factors that we would be talking about, another media merger between aol and time warner, bash at&t and time warner. they two companies were able to merge over the objections of the justice department. fox prefers disney's somewhat because they think the purchase price would be easier sell to us regulators here, they are worried if comcast had the best bid they might face significant headwinds from getting us government approval. thank you. lemmy —— let me show you this quick tweet. the grocer magazine tweeted that "heineken hit by stock issues amid ongoing co2 shortage". it says the brewer is limiting the amount of beer british pubs can order. other carbonated drinks are also affected. the company which distrbutes coke across western europe said "ourfocus is on limiting the effect this may have on the availability of our products. and before any of you get any worry, they say there has been no disruption to supply to date. i

from what i understand, listen, rupert murdoch made a decision to sell his company. those who knew him during the process, that's the word they used with me. >> hyperrational he said this is the way i'm going to go. i'm not going to be emotional. i'll willing to take this company i built apart because it's the time to do it there's a expectations he's going to get as high a price for his shareholders he doesn't want to mire himself in some sort of deal where 18 months from now it hasn't closed and it's dubious whether it will close. i think that anti-trust and what comcast is willing to say it'sg willing to enter into behavioral things what will come along with it the comcast bid will be a key. and that will be a part of a negotiation potentially between fox and comcast. and don't forget disney sits there as we reported a week or two ago, they're willing to add cash to their deal they have an unlevered balance sheet, to rtain extent this is setting up for migh a rlly classic bidding war >>well, i will say sub rosa, a lot of people are saying sub rosa in this verdict

murdoch controls nearly 40% here the vote is only around 17%.lders have a lot to say on this deal with disney bu doesn't mean if murdoch is strictly opposed to comcast that he could sell to comcast. >> right chance the july 10th shareholder meeting for fox could get moved? >> yeah. you know, in these kinds of situations, it's always a possibility that it will get moved down the road as this thing continues to go back and forth. depending on what either side body expects iger to back town here that's certainly not what i'm hearing.there's a willingness ty more than they previously had. tax reform has helped the overall value of the asset, the markets have helped the overall value of the asset at fox. you got to remember. the stock was trading what mid-20s before this started. you're telling me it's going to be worth more than twice that? we'll see. but rupert murdochetting richer by the minute right now >> thank you for joining us all morning. >> sure thing. >>> all right. let's talk a little bit more about all of this. joining us right now is st

joe: that is exactly the question, how badly does rupert murdoch want to beat comcast to sky? does bob iger one sky? he is likely to have influence over the amount to buy sky. ceon robertson, the comcast has to decide how he wants to bid on sky. vonnie: what do analysts feel with the best for the assets? would it be a comcast roof or a disney roof? joe: it is a very good question. they are both very large media companies. this is about the battle of scale to compete against the likes of netflix, and neither comcast nor disney wants to be left behind. they also happen to us prior -- acquire fox's well. mark: who is going to buy sky news? joe: at this stage, it looks like disney is the most likely acquirer. could come in with an offer for sky news as well if they want to keep sky news and avoid any sales to disney. mark: is the u.k. back in love with rupermurdoch? isis a big victory for him, it, given what happened in the last -- vonnie: summarize that for us, remind us what did happen. joe: rupert murdoch was trying to buy sky in 2010 and the scandal with his newspapers scuttle

and the sunday times so murdoch will be happy with that decision but where does that leave disney and comcast both of which have been eyeing the company as well yes comcast has also been cleared by the u.k. government for sky there were no competition or public interest concerns found with them and comcast is currently out bidding fox for sky shares meanwhile disney is negotiating with murdoch for all of fox's entertainment holdings not includes the thirty nine percent of sky which fox already owns now this will likely mean a bidding war between comcast and disney who both see sky as a door into the european market you've also been following a story about social media use in uganda and government policy pertaining to it yes the government in uganda has passed a law which imposes a tax on social media users so for next month anyone who wants to use platforms like facebook whatsapp or twitter on their mobile phones will have to pay the government two hundred shillings per day and that works out about five u.s. cents but bear in mind that for those on low incomes who use social media eve

inwait for disney to respond the fight for rupert murdoch's empire.

are you pert murdoch obviously sees rudy giuliani as not helping to protect rupert murdoch's investmentey ran a two-page spread of rudy giuliani's marital infidelity. it included surveillan pictures of rudy giuliani's alleged mistress. but if he wants to protect his investment in the white house, he may have to consider paying for michael cohen's new lawyers because michael cohen clearly cannot afford to be paying hundreds of thousands a week to defend himself in a federal investigation in new york city and continue his civil case against stormy daniels to try to enforce the nondisclosure agreement that he wrote that was designed to prevent stormy daniels from telling her story about having sex with donald trump, a story which she t but michael cohen, of course, forgot to get his client, donald trump to sign the agreement. so stormy daniels' lawyer, michael avenatti, is fighting michael cohen in court in california. but tonight he's here, and michael avenatti joins our discussion now. you did a calculation about how much this case is costing michael cohen in new york city that you put o

loughlin murdoch giving a rare statement to our own charlie gasparino on where he and fox stand on oners of the year. charlie's about to break it next. ♪ ♪ to buy or sell? with fidelity's real-time analytics, you'll get clear, actionable alerts about potential investment opportunities in real time. fidelity. open an account today. with savings on the new sleep number 360 smart bed. it senses and automatically adjusts on both sides, for effortless comfort. don't miss the final days of our semi-annual sale! save up to $700 on sleep number 360 smart beds. ends sunday. hi.i just wanted to tell you thdependability award for its midsize car-the chevy malibu. i forgot. chevy also won a j.d. power dependability award for its light-duty truck the chevy silverado. oh, and since the chevy equinox and traverse also won chevy is the only brand to earn the j.d. power dependability award across cars, trucks and suvs-three years in a row. phew. third time's the charm... ♪ ♪ liz: a love triangle appears to be developing in the battle for 21st century fox's media assets. first it was just disney and fox

liz: but the largest shareholder which would be rupert murdoch which of course is the chairman. >> the murdock family trust i think in mr. murdock's mind he wants to be the largest shareholder in disney and he sees upside going forward so disney is not going to try to beat the comcast offer but they're going to have to raise their bid, because the market, this is saying, you can not go with the disney bids as it stands. liz: there are multiple ways to raise a bid. you can add cash. >> right. liz: you could make it more stock. you can also promise to divest of certain things to make it more regulatory tasteful. >> well both comcast and disney have agreed, because they are a little bit still about the justice department intervention so they said the 21 fox regional sports networks both sides are happy to divest them. liz: but they get the regional sports networks in the deal, but -- >> but they're going to sell them. liz: and disney has espn but they say we'll get rid of those if you want us to. >> liz the key to this deal with comcast, fox, and disney, is the out of town try-out that's

part of the rationale behind this is a re—consolidation of power behind a number of other murdoch assetsneutrality which is slightly complicated? net neutrality which is slightly complicated ? well, net neutrality which is slightly complicated? well, it's not but it's the way in which companies are not allowed to discriminate in the way that they distribute, speed or the access they give people to their content. access they give people to their co nte nt. if access they give people to their content. if you have got always controlling huge amount of content, it can say, "ok, we will give our people are dead at a preferential speed but we won't allow it to other distributors at that speed". is that a problem in terms of competition? it certainly is buttin rescinded, particularly the us, regulators have turned a more relaxed i do this so one of the catalyst for comcast submitting its $65 billion bid was commissioned for us telecoms giant at&t to buy time warner which includes warner brothers. so they are being more relaxed about this because the rules have changed?” think partly this is com

. >> holmes personally appealed to murdoch to kill the story. murdoch held his ground and did not kill the story and he ended up losing $125 million investment. >> march she settled a lawsuit with second and exchange investigation. now she has been indicted in federal wire fraud charges and has stepped down from the company she started. sky 7 flew over the billion today, the company no longer uses the space and has put the building up for represent. used a manufacturing facility in newark. >> we sent out a push alert minutes after the indictment broke today. you can download the abc7 news app and customize to topics you are interested in. >>> two young women in the south boy face criminal charges with having sex multiple times with minors. on one. >> reporter: investigators say the women would brag about their alleged sex crimes to one another. and in the meantime detectives have now identified three of the victims but think more could come forward. these are the so-called best friends who face multiple charges of unlawful sex with minors. 24-ye

two us companies, comcast and disney, are also trying to buy most of mr murdoch's media empire.oposed fox takeover to the competition and markets authority and the media regulator, 0fcom. there were emotional scenes in westminster today, as mps shared their personal experiences of abortion. they told their stories as part of a debate on whether abortion should be legalised in northern ireland, following the republic of ireland's vote to allow terminations. the government has said stormont should have the final say. 0ur political correspondent alex forsyth reports. cheering and applause this result did more than shift the landscape in the irish republic. it reopened the debate about abortion in northern ireland too, where terminations are illegal in all but very limited circumstances. in westminster today, a succession of mps argued for the uk government to act. some spoke from a very personal perspective. i was ill when i made the incredibly hard decision to have a termination. i was having seizures every day. i wasn't even able to control my own body let alone care for a new li

two us companies, comcast and disney, are trying to buy most of mr murdoch's media empire.ed fox takeover to the competition and markets authority and the media regulator, 0fcom. the film producer harvey weinstein has pleaded not guilty to rape and criminal sexual act charges at the supreme court in new york. it's the first time cases involving the 66—year—old are being tested in the criminal court. more than 70 women have accused him of sexual misconduct. he has denied them all. the comedian, michael mcintyre has been robbed by thieves on a moped, as he waited to collect his sons from a school in north london. the men smashed his car windows with a hammer, before taking his watch and speeding off. it comes amid a sharp rise in crimes committed by moped gangs in london in recent years. around 20,000 offences were reported last year alone. david sillito reports. this footage, taken just minutes after the attack, clearly shows the broken car window. and the comedian, michael mcintyre, speaking to police. witnesses described how men, riding on a moped, hammered at the window a