our top story is paramount. paramount shares lower. we get a combination, finally, with sky dance. it is a complicated deal. the terms and players are complicated. down 2% off session lows. caroline: people clearly questioning this deal. let's get to it with lucas shaw busy this weekend. what does the deal spell out? >> david ellison gets his way. he will acquire redstone holding company and paramount will merge with sky dance, which is the acquisition since paramount is a larger company, but since it is this guidance team taking over and seen as a merger. then he tries to turnaround paramount. it is been a media company that has been in decline for several years now. they had a call with investors this running were david ellison and his deputy and some other members of his team explain why they think they can have more luck with that. ed: we explain in the news story about the background, the saga it is. it is worth explaining who is david ellison and what is guidance? they are a big name behind some big things. >> there was a portion of the call that started with that where you g

paramount considering a $15 share offer for 50% of those paramount stakes. >>> coming up, one word every investors needs to know today. hurricane beryl is in the gulf of mexico and what is expected to be a historic hurricane season. the risk that could pose to the gi.th al energy output in at reon >>> welcome back. returning to a developing story as we track hurricane beryl downgraded overnight to a category four storm after being the earliest category five hurricane on record this week and claiming the lives of six people so far. beryl heading northwest. drillers in the golf will likely be spared the full force of the storm. crew is up fractionally. noaa is forecasting what they call an extraordinary hurricane season with eight to 13 named storms expect. joining me is rebecca babbic. >> thank you for having me. good to see you. >> our first thought are with the people in the path of the hurricane, their safety and the lives that may be impacted. but, you know, obviously, possible investor looking at the investor impact could be. it's to weaken to a tropical storm what do you think that

you have paramount pictures which is a 100 year studio.rts package with the nfl. nicke nickelodeon, iconic brands, kids and family. but we believe that content need to work seamlessly together. the core of paramount will be a content company, story telling company, entertainment company and we need to make paramount the number one destination for the most talented artists in the world but we believe that technology will transform everev everevery aspect of this company. we'll completely transform the business and allow us to emerge from the period of transition stronger than ever. >> does it extend beyond a better user experience? it wouldn't be enough to move the needle towards the growth you're talking about. give us a sense as to where you see the numbers adding up. >> absolutely. so david we're comfortable in businesses in transition. i think if you, you know -- there's real restructuring that needs to take place at the business. linear business is in decline but we can restructure and slow the curve and we are going to invest in growt

over. >> it may be in paramount's legacy media company cbs paramount and mtv and sherry bread stilld a deal with sky dance media which is run by david ellison who is the son of oracle billionaire larry ellison this past week, the deal looks good for redstone intercompany national amusement which is a controlling share but less good for the public shareholders. jack: the billionaire do you think he has the chops to run any business much less a business in a tough sector? >> it's going to be a tall order sky dance is a tiny fraction the size of paramount and paramount is the devil and other managers in the past into the be interesting to see if he can make this work. investors and wall street is skeptical how well this will work, the paramount public shareholders are getting $15 for half of their stock, the stock is trading 11 and the redstone we don't know what they got but the man got $30 a share for their stock it looks a real disparity there could be lawsuits in delaware where the company is based, that could derail the deal. jack: thank you. let's go to actionable ideas, jacob yo

in paramount. they have received nondisclosure agreements to enable it to review the media giant's assets. paramount shares shot higher on the news, up about 2%. but now just starting to claw back from the decline since june 11 when a deal with skydance fell apart. barry diller had a long history with the studio going back to 1 1971. when he was just 32, he was named head of paramount pictures. then in 1993, when diller -- he entered into a bidding war for paramount. diller ultimately lost. so why would his iac be interested in paramount? they do own other assets in the media space. and the ceo joey leaven has been opportunistic in a range of industries. the company owns the majority of angie's list as well as a take in mgm resorts. the question now is, how much paramount global is under pressure. we know it's looking for opportunities in its streaming business and is looking to bundle. paramount plus potentially with the likes of max or others in order for paramount plus to better compete. i reach

>> it's going to be a tall order sky dance is a tiny fraction the size of paramount and paramount isers in the past into the be interesting to see if he can make this work. investors and wall street is skeptical how well this will work, the paramount public shareholders are getting $15 for half of their stock, the stock is trading 11 and the redstone we don't know what they got but the man got $30 a share for their stock it looks a real disparity there could be lawsuits in delaware where the company is based, that could derail the deal. jack: thank you. let's go to actionable ideas, jacob your calling for pizza. >> domino's is a rare restaurant company doing it right a lot of inflation consumers getting choosy about what they buy, domino's is able to add thousands of restaurant locations throughout the world every year end that's a major part of the growth, they have a strategy where it's called the more strategy and are making sure, these stores are to be successful in same-store sales are going to be mild, what they're doing when i get a pizza from domino's is hot every time but no

paramount is having some discussions with a number of companies to merge its struggling paramount plusiller joined us on the show in early april and here's what he had to say just three months ago on this very topic. >> first of all, it's the worst time in the world to sell this thing. i mean, it couldn't be -- it is a perfect candidate for actually turning itself around, but the idea that you ought to sell it -- because whoever gets in it, at whatever base they get in it for, there's an enormous amount of work that's going to have to take place. >> the development's moving the stock this morning, but still down more than 30% in the last year. we should also mention, isc has about $46 billion in cash and liquid securities. its ability to buy this is clear. >> i guess the real question, i'm trying to kind of figure out why they would do it now, is what rich greenfield is saying, this opportunistic price, where for less than $2, you can get control of a huge vanity issue that is way cheaper than any of the sports teams people buys and barry diller knows something about hollywood -- >> an

sky dance with paramount global we have the terms of that next.aria", live on fox business. ♪ to duckduckgo on all your devie duckduckgo comes with a built-n engine like google, but it's pi and doesn't spy on your searchs and duckduckgo lets you browse like chrome, but it blocks cooi and creepy ads that follow youa from google and other companie. and there's no catch. it's fre. we make money from ads, but they don't follow you aroud join the millions of people taking back their privacy by downloading duckduckgo on all your devices today. want to save on some of the biggest names in streaming on join the network made forle streaming? x marks the spot. now you can add the new xfinity streamsaver™ that includes netflix, peacock, and apple tv+. that's xfinity streamsaver™ for just $15 a month. all your favorites. all in one place. only from xfinity. for more watching and less spending... x marks the spot. do it all on the network made for streaming, and bring on the good stuff. cheryl: hurricane beryl is heading to jamaica as a category 4 killed seven

we're talking paramount.y apologies to some who perhaps are tired, but it's been a fascinating story. at some point there, will be a movie about it. i would assume it will be done by paramount. we are very close to the end in terms of a deal actually getting signed between the control shareholder of paramount, shari redstone, and once again, skydance and its partner, private equity firm redbird, which were successful in bringing shari redstone back to the negotiating table after that very much unexpected turnabout of a number of weeks ago where a deal they thought they had done was rejected by shari redstone. what got them there? well, my understanding is david ellison, who runs skydance, would be the ceo of this combination of paramount and skydance. had reapproached over the last couple of weeks, also a lot of conversations, my understanding, with shari's son, tyler, as well, and they got to a new agreement. very similar to the old agreement. in fact, when it comes to the common shareholders, who are probab

paramount is somewhat different. the problem is not with paramount. paramount has 650 million shares the stock is selling at let's call it 12 but it's 15. that's $10 billion and then you got 11.5 billion of debt and if i were able to sell-off some of the spectrum, that they have in the tv stations spin-off of the tv stations it could be down to six or seven. liz: but you said july 12 skydance had said and officially said, we are merging with paramount. okay? and they offered those of you with shares, like you have, which are class a shares $23 a share. shari redstone of course of national amusements which had the real controlling shares of the class a group, we don't know what she got for her shares. you have said you're on this fish bowl, operation fish bowl you want to know what she got. my question to you is what do you think be an appropriate premium, because she got a premium. what do you think be an appropriate premium, mario, that she and national amusement should get relative to what you and your shareholders are getting? >> well, liz, two typ

and paramount is down 1%.o the call -- >> it was up big before you started talking. >> the numbers are the numbers, as i said earlier. it's not about me saying anything. there are many challenges at this company. by the way, it's going to be sometime until they close the deal, and of course, there are operating -- interoperating agreements, but you got to -- three guys running this company, paramount, that's going to continue for the foreseeable future. >> it's like, new york community bank. >> it's not an easy world. jeff shell, our old boss, on the call is talking about the linear business, namely -- i'm hearing this a lot lately. cbs is undervalued. there's a lot more there. he said it's going to be a strong business for decades to come. i think we'll be sitting here in 10 years, 20 years, talking about a significant amount of viewership on cbs network, but it's going to become part of the equation as opposed to the driving part of the equation. he also had some interesting things to say about david ellison

paramount may have finally found a buyer weeks after an earlier deal was called off.od morning, charlotte. >> good morning. when the godfather meets mission impossible, well, maybe, as you were saying paramount and sky dance are reportedly close to a merger agreement. potentially, it's quite a plot twist coming weeks after talks already fell apart at the last minute. now under the tentative agreement, sky dance would pay $1.75 billion for control of paramount through national amusement. they would aquarcquire half of shares at $15 per share and contribute an additional $1.5 billion toward paramount's debt. paramount's special committee is said to be currently reviewing and voting on the deal. there is no certainty on the deal, which also includes a 45 period in which others may smit proposals. they declined to comment. but the shares did surge around 10% yesterday on the news. >> thank you for the update. >>> now to this fourth of july stunt that looks like it's straight out of the grand theft auto. he's facing charges while he's driving a lamborghini and a helicopter

discovery in paramount plus in that paramount content to match it with the content they already own ineoretically give consumers a more robust streaming offering. >> so, we have this potential combination or, you know, joint venture, as well as the various media companies perhaps teaming up for this sports distribution deal in streaming. it feels as if just everybody feels as if they have to scramble for scale. it's obviously, you know, the main thing for the players that are not, let's say, in the top two. >> yeah, mike, a couple things going on here, i think, that i report. a joint venture like this would take off, theoretically, paramount plus from the balance sheet of paramount global. so, paramount plus has been losing billions of dollars every year. that may be good news for paramount global shareholders if this thing becomes a joint venture and is no longer on the books for paramount global. but really, in a bigger sense, it speaks to what you just said, that there is a rerationalization of streaming assets going on. so, all of these things have been launched, or they're about t

paramount has made a deal with guardians media.ky dance plans to invest $8 billion in the business while paramount has agreed to sell the business, national amusements, which controls 77% of paramount's voting stock. allison is set to become the new ceo once the deal is complete. let's bring in felix gillette. the soap opera is over? felix: looks like it is over after seven months of back and forth, we finally have a deal. scarlet: sherry winstone is out of the picture completely, does that mean that david allison has influence over the company? felix: interesting that we got to hear from david allison in the call and he laid out his vision for all of this, talked about paramount having to up its game in technology, the various synergies he feels like sky dance can provide paramount. talked about its animation studio, combining that with nickelodeon, sports, cbs, movie properties. it was interesting to hear. the president of the company, we got to hear from him a little bit, too. scarlet: is the company going to bleed talent? she h

>> someone knew his enter the paramount party, barry diller is exploring a possible paramount bid.paramount pictures decades ago but lost a bidding war for the dutch joining us out of new york city. what are the details in the new york times report? >> this came together after sherry redstone walked away with david ellison sky dance media and that -- nondisclosure agreement have been signed. >> isn't it interesting that barry diller lost out when wanting to get some of these assets previously. there's talk about paramount plus being weaved into another streaming company as well. >> there is something very nostalgic about this i think for him. he did have dutch head paramount pictures so i'm sure, we heard a lot of talk about a joint venture on streaming. it will be interesting to see what he's gravitating towards. it's film and television so what's not to love. ed: i feel it we've been talking about this for a long time. i've lost track of who isn't who is not trying to buy paramount, who are the other players still in the race. >> byron allen has made a bid and been very vocal abo

and that's what we have at paramount.here's no government so it needs to go and they've destroyed like 70% of the value. and then if trump gets in and everybody is consolidating its of the worst possible price. but then i think we get a lot of consolidation over the next four years and end up if there's a trump administration we would end up with three competitors, maybe four. including amazon and peacock and disney. caroline: at $11 do we buy? laura: no i don't think you do. i think of going on and off with this deal too many times so i don't think you buy it. caroline: we love having you on the show. wishing you a happy holiday for tomorrow. coming up we are joined by the ceo of killeen. we will discuss the ai platform, their work is helping -- this is bloomberg technology. ♪ caroline: following the supreme court's decision to overturn that chevron doctrine, lawmakers will be forced to become more specific on how they regulate ai. judges have deferred to administrative agencies to interpret laws written by congress but

paramount says it expects to close the deal by next summer.uire british soft drink producer britvic for more than $4 billion. currently, britvic manages 39 brands — including the uk's production, distribution, and sales of popular drinks like pepsi and 7—up. the acquisition by the brewer is part of the company's larger strategy to accelerate growth in its portfolio outside of beer. currently, its �*beyond beer�* catergory accounts to only 2% of carlsberg's total volume. let's recap the market moves in the us now. it was another record day for both the s&p 500 and the nasdaq, while the dow jones index closed flat. investors have a busy week ahead, with the us inflation print forjune, which is due on thursday. i'll have more business news, thank you forjoining us. this is the catch up. russian strikes in ukraine, exciting baby news and torres gets soaked in barcelona. first the new chancellor rachel reeves has announced plans to build loads more homes, she says the government will build 1.5 million in england over the next five years and will lo

exploring a bid for paramount what to do is the question i know you are trying to get in cheryl.u on netflix i am game for that you are so right, that is right. >>. lauren: , are historic -- 18 nba championship jason getting rewarded with largest contract in nba history agreement reportedly worth 314 million dollars, that is for five-year extension, boston celtics owner putting team up for sale yesterday to make a detail this year or early next, for celtics fourth most valuable contaminate estimated worth 4.7 billion dollars. >> if you had a million left in an it was -- lauren: wild completely, too bad i am -- >> and female. >> thank you very much, all right. well turning to the crisis at our border customs and border protection telling fox, loft number apprehended in three years does not include 60,000 migrants through ports of entry in june, the controversial -- number also doesn't include 30,000 from cuba, haiti nick rallya venezuela, applerolled into u.s. under biden's humanitarian parole program allows migrants to fly directly into the united states, joining me kentucky cong

discovery's max as well as paramount plus.et's remember, not so long ago, paramount plus had tried to make a play then for sky dance media last month. but that was a scuttled deal that didn't happen because the controlling shareholder scraped that merger. and now is operating under new strategic plans of three ceos as part of that board. will this actually happen? we're not necessarily sure. this would of course be quite considerable, considering that a lot of the streaming services are looking to consolidate. on the other side, you make note again of the long-expected merger of the theme parks, from cedar fair. it creates what six flags has callin d kauled the largest and most diverse amusement parks. significant change happening in the world of amusement parks. >> thanks so much, arabile. >>> still to come. they're seeing green up in boston. the celtics becoming the sell-ticks. all that, plus the latest free agency news. plus the latest fre agency news. ♪♪ an all-in-one cleaning tool that gives you a mop and bucket clean in

but paramount is under a lot of fm pressure.going on with paramount global, selling, deciding not to sell. and ultimately, this is all designed to drive people to paramount tv. they want people to subscribe to paramount plus. they want people to be watching television or subscribing to their subscription channel, and they weren't sufficiently monetizing these old archives on comedycentral.com. this is a strategic decision. they may continue to make changes as they try to figure out the best way to monetize their current shows, but also the archive, and ultimately the archive wasn't making them enough money. >> this is great media attention. the stock is still down about 3% today, but that's exactly the play. you would hope if people really want those archives, they're really willing to pay up more them. >> and they get jon stewart, colbert -- >> but you want people to watch the newest shows. that's where paramount will make the most money in terms of the ad revenue. >> julia, great to have you in town. >> great to be here. >> de

paramount says it expects to close the deal by next summer.iness today. thanks for watching. hey. i�*m zof with the catch—up. tonight: russian strikes in ukraine. exciting baby news for grealish and taurus gets soaked in barcelona. but first, the new chancellor, rachel reeves, has announced plans to build loads more homes. she says the government will build 1.5 million in england over the next five years and will loosen tough planning rules. also today, the new prime minister has been in wales and northern ireland after visiting scotland yesterday. now to ukraine, where a children�*s hospital in kyiv has been hit by russian strikes. across the country today, at least 36 people have been killed by russian attacks. ukraine says they�*ll retaliate. russia denied targeting civilians. some other stories now. there�*s been a surprise result in france�*s parliamentary election after the far right were expected to win. instead, they came third with a group of left—wing parties winning the most votes. but no party won a majority needed to create a gove

paramount i think is an interesting punt.near universal or total control over the voting. at this point i think the story here that barry miller and i see -- diller, sorry, may have an interest. if they come to a deal, that would give it a boost. the stock i think has a potential to be a $15 takeout stock. there is a great punt. but walk win with your eyes wid open. if it doesn't work, it could be dead money going forward. >> the dreaded words. boris, we hope not. good to see you today. >> good to see you guys. >>> major avenues near session ow lchhis. "perun" will be right back. so this is pickleball? it's basically tennis for babies, but for adults. it should be called wiffle tennis. pickle! yeah, aw! whoo! ♪♪ these guys are intense. we got nothing to worry about. with e*trade from morgan stanley, we're ready for whatever gets served up. dude, you gotta work on your trash talk. i'd rather work on saving for retirement. or college, since you like to get schooled. that's a pretty good burn, right? got him. good game. thanks f

paramount's board members. paramount owns its namesake studio, as well as cbs, mtv, nickelodeon, and paramount plus. we'll see how whether they can really close the deal this time. netflix, meantime, is starting to phase out the cheapest ad free plan for existing subscribers. the verge reports that some customers on the basic plan, which costs 11.99 a month, are being asked to choose a new tier. the choices are the 6.99 ad supported plan, the 1549 ad free tier, or the 2299 ad free premium plan. most users receiving notices appear to be in the uk and canada right now. last year, netflix discontinued that basic plan for new or returning members. here in the u.s. so if you know somebody in canada, tell them to go ahead and binge bridgerton fast before the prices go up. it's pretty good, this one. i think my 15 year old was watching it and i was like, isn't that a little saucy? and she was like, no, not that bad. and i said, well, can i watch it with you? and she said, no, no. so i guess it's a little saucy. thank

david ellison will become the chairman and ceo of paramount and jeff shout will be the president of paramount the deal is seen closing the first half of next year. it was a unanimous vote to approve the merger with skydance. it will be a vote from a special committee to look at the details of the specific deal on the table. we are looking at a transaction that values skydance at 4.7 billion u.s. dollars. get the other story we are tracking. samsung electronics and the labor action taking place right now. have a number to attach, shares trading flat. slightly bigger strike in terms of the number of people involved? annabelle: the union said it expected 5000 people. in the next -- and the last half-hour we are hearing that more than 6500 people are protesting outside of the companies chipmaking facility. the union organizing the demonstration is the biggest of the company. it is a step up in the demonstrations we have had so far. yet a one-day strike in early june. today it is the start of what could last for three days given the union and its negotiations with the company and the pay broke dow

looking to take paramount from the retodsne family.e have a very busy hour when "worldwide exchange" returns. stay with us. how am i going to find a doctor when i'm hallucinating? what about zocdoc? so many options. yeah, and dr. xichun even takes your sketchy insurance. xi-chun, xi-chun, xi-chun! you've got more options than you know. book now. z's baking the house special. you've got more options arisa's styling a new look. and steve's filling his biggest order ever. with the first ever comcast business five-year price lock guarantee, these business owners get five years of value on gig speed internet and advanced security. all from the company with 99.9% network reliability. so now they can focus on doing what they do best for the next five years. that's a lot of bread. you got this. the comcast business five-year price lock guarantee. switch today for a limited time. >>> welcome back to "worldwide exchange." we are following breaking news in france and a fast moving story following the second round of parliament elections. we have

currently chairman and back in the 70s he ran paramount pictures. as a paramount plays out, the bond market has been glued to its own soap opera playing out in the tenure field. look at this, you see the debate around 9:40 a.m. eastern write about reserve chair jay powell had the floor at the european central bank's annual form of all things, central thinking. the yield closed yesterday 4.47% but does to 4.41% as powell said he needs to see more repeats of the latest 2.6 consumer inflation print. >> it represents significant progress, peak debt 4.4% in the same thing in headline. 7.1 to 2.6 so it made a lot of progress. we want to understand the levels we are seeing are true reading on what is happening with underlying inflation and we are well aware if we go to soon and we can undo the good work we've done and bring it down if we go to late we could undermine the recovery and expansion so we have risks more than a year ago. >> one of the risks, the labor world. that picture here, here's my buddies june job report takes on added importance. expectat

paramount global continues to fall, it's down more than 1%.harlie gasparino? >> you know, that's the trouble, and it's in trouble, what the stock is doing right now, for shareholder lawsuits. i can tell you people inside the skydance, redbird team, that's, essentially, the consortium of private equity plus skydance, a small boutique production company owned by david -- and run by david ellison, the son of oracle founder larry ellison, that they are bracing for significant shareholder lawsuits. when those come, i can't tell you. one potential lawsuit, we should point out, could come from if mario gabelli. i spent some time with him a couple days ago, you know, talking about his options. he didn't mention lawsuits, but what he did say was that he's going to fight for transparency on the deal terms. he's launching something inside his company knowned as operation fish bowl -- known as operation fish bowl where he wants to see exactly how much money shari redstone made on this thing, the de facto other than of a paramount until this deal gets done

cause like paramount. is this big name. it's godfather, its top gun, its force got paramount sauces, cbs and mtv nickelodeon, which when we're kids, including rocked. so it's weird scene acquisition. for me, it's a little sad, james, because it feels like another american institution is being gobbled up there's just one fewer institution that we can back to and say, remember the good old days of seeing the paramount mountain on top of a start of a film those days are gone. yeah, i raiders of the lost ark. >> that paramount mountain and then it dissolved to reveal a real mountain where indian n% everybody else was trekking through the jungle. iconic iconic iconic. that's right. i'm all right. let's talk about our first official story air travel demand apparently high, but profits aren't following suit. what's going on here? yeah, it's you might remember last year we talked about the labor >> cost and we talked a lot about it with bill companies. but we also talked about how pilots were getting new deals and

paramount up over 12%.ts and skydance with a new preliminary deal being reached. that's according to people familiar with the matter. talks had ended with no deal just weeks ago. a special committee at paramount is reviewing the revised proposal. next up, a check on electric vehicle giant tesla up 2% or so. 4 million shares of volume. a day after 10% gain on the heels of better than expected quarterly delivery numbers. the run today continues a trend higher that has already seen a 66% rise just since the lows that we saw on april 22nd. new this morning, analysts at redbush have upped their target price on tesla to 300 bucks. it was $275. they maintain the outperform rating. tesla reports on july 23rd. we'll cap things off with a look at shares of mgm up a percent or so, thinner trading volumes. we're getting some help from analysts at btig who initiated coverage of the casino and online betting platform operator with a buy rating and $52 price target. that's a 23% upside from last night's close. they're cit

paramount's controlling shareholder national -- it will then merge sky dance with paramount. >>> andiday season. coms score says despicable me 4 brought in more than $122 million since its opening on wednesday. >>> look at the futures this morning, slightly red so far. we've got the dow down 16, nasdaq down about 12 points or so, let's get to dom chu with a look at this morning's premarket movers. what's going on, dom? >> good morning, joe, good morning, becky. we'll start with the big headlines out of dow component boeing. those shares up are fractionally, about one-half of 1% of premarket shares. the aerospace defense giant has agreed to plead guilty involving boeing model 737 max jets. bo boeing has agreed to pay $243.5 billion in fines and invest $455 million in safety and compliance programs. it will be subject to oversight by an independent third-party compliance monitor. that plea deal need the approval of a federal judge before taking effect. maybe clarity there helping boeing shares to the upside. >>> we're watching shares of nvidia, the world's biggest computer chip company

which owns cbs news and merge sky dance's business with paramount global.amount office of the ceos said they will modernize the organization by streamlining teams and reducing the size of the work force. >>> if you're planning an alaska cruise, a measure that would ban cruise ships with 250 or more passengers from docking in juneau on saturdays has qualified for an upcoming municipal ballot. the measure would also ban ships on july 4th, that's a day when locals flocked to a downtown parade. the ship-free saturdays initiatives spurs from residents who have concerns about traffic and many sightseeing helicopters. >>> what? [ laughter ] >> and animated films are helping the box office bounce back. thanks to cartoons and sequels, movies are doing well again. "despicable me 4" led with $75 million in ticket sales from friday to sunday. but universal studios has raked in $123 million since opening wednesday. >>> next, americans make history at wimbledon. the big wins and tough losses for u.s. players at the all-england club. u.s. players all-england clubsses for

paramount now up almost 2%. the big news of the day, earlier today jay powell spoke at the euro central bank forum in portugal. inflation is getting back on a downward path but he remains patient. take a listen. chair powell: they want to be confident inflation is moving towards 2% before we start the process of reducing how tight our policy is of loosening policy. because the u.s. economy is strong, the market is strong, we have the ability to take our time and get this right. that is what we are planning to do. sonali: we will discuss the comments with michael mckee because if you have a chair powell also saying he remains patient, the market is less so. you have a little in the bond market. what are the tea leaves? michael: the market was looking at the idea that we had maybe the economy slowing down a little bit. we were going into the jewels report inking it was going to be bad, but it didn't turn out that way. we saw jolts, and higher than anticipated. revised down last month but back over 8 million for th

diller has a history with paramount.e competed with sharry's father to buy it and ultimately lost. first story i ever covered at cnbc, by the way, will fred. >> can we dig out the tapes? >> they were real tape. i think they got burned up somewhere. there are other things going on. the prospect of a trump presidency, lack of potential m&a regulation that would along with that, allowing for a lot more consolidation, can't be underestimated in terms of what it would allow people to start thinking ability down. you have talks that cnbc reported on yesterday between wbs discovery and paramount about basically putting paramount plus into max, into hbo -- not called hbo. giving economic stake to paramount and having it be a global offering. so there's that as well. >> i was going to ask you a little bit about warner. clearly we don't know how close the diller deal is. the skydance deal got pretty close. where then was the trigger to bring in some of these more bigger traditional media players that we've always wondered, oh, the

paramount and skydance agreed to merge after months of talks.company for paramount. >>> over the weekend, four volunteers emerged from over a year in isolation simulating what it would be like to live on the red planet and they ran mock space walks and habitats. nasa is to send people to mars by the late 2030s. more than a dozen vehicles careen up and a cliff and down a hill and amusing cwdf thsas. oundlove that my daughter still needs me. but sometimes i can't help due to burning and stabbing pain in my hands, so i use nervive. nervive's clinical dose of ala reduces nerve discomfort in as little as seven days. now i can help again feel the difference with nervive. pain means pause on the things you love, but... green... means... go! ♪♪ cool the pain with biofreeze. and keep on going. biofreeze. green means go. skincare can start in the laundry room. that's why i always recommend all free clear for sensitive skin. it's free of dyes and perfumes. it's a key part of my self care routine. it's a clean that's gentle on my skin. for an effective clea

the merger with paramount marks the end of the redstone families long tenure at paramount.he deal is expected to finalize next year. yeah. athletes take the pitch at paypal park. we have how they shined underneath the bright lights. here's why you should switch fo to duckduckgo on all your devie duckduckgo comes with a built-n engine, like google, but it's r and doesn't spy on your searchs and duckduckgo lets you browsel but it blocks cookies and creepy ads that follow youa and other companies. and there's no catch. it's fre. we make money from ads, but they don't follow you aroud join the millions of people taking back their privacy by downloading duckduckgo on all your devices today. >>>>yeah. here. it's a fairy tale. dream. but you need to have the grit. determination. and our teammates saved. saying 1 thing. we all did amazing job. >gianna>yeah. what fun. this was. that's esteban mercado midfielder for the san jose earthquake special olympics unite unified team last night. the earthquakes played against their counterparts chicago fire unified special olympics northern c

look, paramount, most media companies have been struggling.behind cbs, mtv, the godfather, right? but if you look at a paramount+, it's got 70 million subscribers, netflix has 270 million. so they're struggling and they need some help. ashley: yeah. as paramount turns, it's the soap opera. all right, let's move on. [laughter] rivian just addressed reports that they were partnering with volkswagen to make cars. you know, what are they saying? lauren: reuters is reporting that is not the case. they will not producevehicles together. so this -- produce vehicles together. this $5 billion cash infusion is just a software-sharing deal. but a german newspaper had reported that rivian's new suv, the cheaper r2, that that would be produced at the south carolina location, the plant of volkswagen. rivian say, nope, we're producing at our own plants. so that's the story. we'll see. ashley: maybe. yes. we will not mention it again until there's more developments. all right, lauren, constellation brands reported earnings. here we go. the season starting to

paramount is in talks with multiple entertainment companies to merge with paramount plus with an existingest in the deal. paramount plus and max could strengthen both services. >>> six flags and cedar fair have closed an $8 billion deal to become the largest theme park operator in north america. they have would operate under the six flags name. >>> deadpool and wolverine are teaming up with digiorno to bring limited-edition pizzas to your home. >>> and, if you're looking for your train to boston, it may look back at you. some have googly eyes. eyes. but sometimes i can't help due to burning and stabbing pain in my hands, so i use nervive. nervive's clinical dose of ala reduces nerve discomfort in as little as seven days. now i can help again feel the difference with nervive. [crowd noise] i bet allison doesn't get jelly on her shirt. urgh! i bet noah lyles doesn't get smoothie on his jersey. aw, come on. i bet carl lewis doesn't get tomato sauce on his jacket. dang it. urghh! ♪♪ stains happen to the best of us. when they do, tide's got you covered. pasta in paris? when in rome! it's got t

paramount global shares are falling by 4.7%.er deal that was just sealed supposedly officially this time with skydance following months and months of on and off negotiations. it's one of the redstone families reign over the media giant. to charlie gasparino has been reporting this from the very beginning. charlie, you did nail something. it was month and monthses ago. >> i didn't just nail one thing, jeff shell coming back. liz: yeah. >> we were the one on the show, and in my coal lump on "new york post," that this skydance deal is going to happen. liz: yes. >> that it is coming back. that it is not dead, that she has no choice but to do it. and you know we did that because, just have, listen, two things. cac a balance sheet, ladies and gentlemen, if my reporting colleagues out there. you got to read balance sheets. when you cover a company it is good to read them because you see where their weaknesses are and paramount which is what is being sold to skydance and, in a fairly complicated deal, may be the most complicated media m

skydance founder dave ellison set to serve as chairman and ceo of the new paramount.mbine company $28 billion and effectively ends the redstone family is decades of rain over cbs and paramount. the merger still needs approval from regulators and is expected to be finalized early next year. "eye on america" is next with a program designed to bring police officers and the people they serve together at where else? the barbershop. ♪ ♪ together at where else? the barbershop. ♪ ♪ [cough] flare-ups that could permanently damage my lungs. with breztri, things changed for me. breztri gave me better breathing. starting within 5 minutes, i noticed my lung function improved. it helped improve my symptoms, and breztri was even proven to reduce flare-ups, including those that could send me to the hospital. so now i look forward to more good days. breztri won't replace a rescue inhaler for sudden breathing problems. it is not for asthma. tell your doctor if you have a heart condition or high blood pressure before taking it. don't take breztri more than prescribed. breztri may increa

not in paramount mount.bviously. i don't see that it as the challenge. >> back up a moment. i want to make sure i understand this clearly, because from people from the outside trying to figure this out you have a significant number of class a shares. what are you offered under terms of the deal? >> good question, becky. back up the truck. offering $23, if i don't take it for my clients i get 1.53 shares of the beat. we need to understand under what set of circumstances they can do that and is that $23, how does that compare with what nai is getting for their voting shares? >> okay. and then you don't have a problem with skydance being merged into this? do you have a problem with the price being paid for skydance? >> two parts. one terms of trade. that is what am i getting for my voting shares from my clients and we own a limited amount. and we charge no incentive fees to clients paying part of the legal fees. the second part is terms of trade with regards to paramount bought by skydance once they get control

paramount and skydance media have reportedly agreed to join forces.orts say skydance would pay $1.75 billion in cash to acquire paramount, which owns cbs and mtv and nickelodeon. it comes amid talks about a possible merger in the streaming world between paramount plus and max. >> coming up, the new alert about mosquitoes and dengue fever here in the u.s. also ahead, two civil war heroes being honored today for a secret military operation to hijack a military operation to hijack a train ok y'all we got ten orders coming in.. big orders! starting a business is never easy, but starting it eight months pregnant.. that's a different story. i couldn't slow down. we were starting a business from the ground up. people were showing up left and right. and so did our business needs. the chase ink card made it easy. when you go for something big like this, your kids see that. and they believe they can do the same. earn unlimited 1.5% cash back on every purchase with the chase ink business unlimited card from chase for business. make more of what's yours. what's u

>>> there's more drama at paramount global. interested in betting on the company. >>> and the celtics up for sale and looking for a buyer with deep pockets. it's tuesday, july 2nd, 2024 and "squawk box" begins right now. ♪ >>> good morning, everybody. welcome to "squawk box" here on cnbc. we are live from the nasdaq market site in times square. i'm becky quick along with joe kernen and andrew ross sorkin. we're talking about what has been happening with the u.s. equity futures and yesterday in the markets. yesterday, you did see modest advances, but this morning, you see a pullback with the dow down 140 points. nasdaq is down triple digits with the decline of 100 from here and the s&p down almost 25. if you are looking at the treasury market this morning, the ten-year sitting at 4.45. the two-year at 4.76. >>>

to now battling demons on paramount+ with your show "evil."asons. >> desi: it is such a good show. >> thanks. >> desi: it is so fascinating. it is a horror dramedy, but the kings, who created the show, brilliant writers, are known for really exploring political and societal issues. is that what interested you in working with them? >> well, i mean, many reasons. a, they are incredible writers and incredible creators. they created "the good wife" and "the good fight." "the good fight" was one of my favorite shows, just their take on societal issues and politics and the absurdity and the satire that they use in their shows, and so when i got this script, it was just a great script and a great premise and it turned out to be such an amazing experience. >> jordan: well, i would love to say you should come back any time, but i talk to people around here and that isn't the sentiment. [cheers and applause] but this has been fun. >> this has been really fun. >> jordan: so fun. >> desi: this will be the last time we ever see each other. >> let's not spo

journal, skydance will pay $1.75 billion for national amusements, giving skydance full control of paramountramountjumped in afterhours trade after the reports, but we have yet to get confirmation from any of the media entities in this potential acquisition. federal reserve chairmanjerome powell. speaking at a european central bank forum mr powell acknowledged there has been significant progress on inflation. however, he wants to see a more sustained downtrend before lowering the cost of borrowing, which currently sits between 5.25% and 5.5%. he said he wanted to see more sustained downtrend, it currently sits between 5.25 and 5.5%. the clock is ticking for chinese and the european union negotiators who are in talks over the eu's plans to impose tariffs on chinese electric vehicles. the provisional tariffs are expected to kick in, on the 4th ofjuly. last month, the eu announced it would impose duties as much as 38% on evs shipped from china. that's on top of the 10% levy on all cars imported to eu countries. these proposed tariffs vary depending on how much each car—maker cooperated with eu

. >>> plus, shares of paramount getting a boost after piquing potential interest.e "fast money" in two. >>> missed a moment of "fast?" catch us any time on the go. follow the "fast money" podcast. we're back right after this. >>> welcome back to "fast money." tesla shares jumping 10% today, closing at their highest level since january 10th. the move coming after the ev maker reported a smaller decline in q-2 deliveries than expected. phil lebeau has all the details. hey, phil. >> melissa, coming into today, there were a few people that thought it was possible for tesla to deliver maybe only 410,000 vehicles today. far short of the estimate of 436. well, look what they did report. almost 444,000 vehicles. now, admittedly, it's still a year over year decline. two straight quarters that we've seen that, down 4.8% compared to the second quarter of last year, but again, better than expected. and that put the stock moving higher, production there you see it at 410,000 as they are clearing out a lot of inventory. brings up the question, can they hit the consensus estimate