. >> shartes of paramount global, maybe the last dance? sources tell cnbc david ellison skydance media rah reached a preliminary deal to buy national amusement and merge it with paramount global. i know you've heard the story before but the deal fell apart just a few weeks ago would see red stone received a reduced 1.75 billion dollars for national amuchsements and skydae with controlling shares 4.4 billion. apple reportedlywill get an observer role on opening ai brr. according to bloomberg, phil schiller will eye assume that role later this year hurricane beryl has now been downgraded to a category 4 storm as it makes its way to jamaica and possibly heads northwest as a category 5 hurricane. the earliest storm to reach that classification, beryl has claimed six people in the southeast caribbean and beryl is expected to weaken to a tropical storm before making landfall in mexico and southern texas over the next few days. incredible that a storm is so powerful so early in the season, frank. >> kind of concerned to see such an early and stro

barry diller has a long history with paramount global that goes back decades. ead of paramount pictures in the 1970s and built up the film and tv business. in 1993, when diller was chairman of qvc, he entered into a bidding war. iac has a stake over why this makes sense for them. its ceo joe yi levin is looking for assets in various industries. it is worth pointing out that various sources have told me a lot has to be figured out for the iac deal to be happen and it is in early stages. it could certainly not happen here. >> is this another deal for national amusements and we don't know what it means for other share h shareholders? >> that could be the issue. they journust started this due j diligence process. it seems because of the unique structure of the deal, it is more likely to do a deal with the national amusements. >> here is the thing i still don't understand. is whoever is going to buy national amusements take on the risk of what sharri was thinking about doing earlier on? down the road, there will be some plan to sell it again, but then the question is

joint venture like this would take off, theoretically, paramount plus from the balance sheet of paramount globalsing 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 to be launched, like sports service, and all the legacy media companies are kind of thinking, you know what? we've got to do this better. we've got to have more scale, more partners, better monetization of our content, new bundles, new packages, because what we've been doing has been losing us a lot of money. maybe we're finally at the break even point. now is the point that we can make this business into a real money-making business for the next five, ten, 20 years. >> yeah. as many of them sort of plateaued on subs and i guess reducing churn and cutting costs and all the rest of it kind of works on paper. we'll see, al

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

the question now is, how much paramount global is under pressure. now 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 reached out to all the different media giants involved in this. no comment from paramount global or national asuzements or iac. >> it's what you said about potential partners. what are the options for this platform with streaming, are we talking about combinations, lateral moves, takeover by a much larger player? you think if there was any real prospect of this happening by a larger player, we would have heard about it by now. >> if you are talking about a major media deal, they're hard to get done, because you have sherry redstone, the controlling shareholder. she would have to be open to breaking up her company or merging with a giant. simply bundling assets, that's a lot easier to do. so the question is whether paramount plus, which is almost sm smaller, it has hard times competing with netf

we have reached out to paramount global and have not heard back yet.ts some investigating anti-trust around nvidia. we'll get the details in tech check when we return. ♪ (♪♪) (♪♪) what took you so long? i'm sorry, there was a long line at the thai place. you get the sauce i like? of course! you're the man! i wish. the future isn't scary. not investing in it is. nasdaq-100 innovators. one etf. before investing, carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com >>> welcome back to "power lunch." nvidia is just the latest big tech company to attract the attention of european regulators. deirdre bosa looking at that in today's tech check. deirdre? >> hey, kelly. so nvidia's rise to not just the largest chip maker in the world but largest tech company by market cap for a brief point, it was bound to attract some regulatory attention. it has. reuters reporting the french anti-trust authority is set to charge nvidia for anti-competitive practices. they're not the only ones. in a regulatory f

one of hollywood's oldest companies — paramount global — has agreed to merge with independent film studioamount's non—executive chair, shari redstone, will sell her family's controlling stake in the company. the merger will result in a new business worth $28 billion. paramount says it expects to close the deal by next summer. danish brewer, carlsberg, has agreed to acquire 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

one of hollywood�*s oldest companies, paramount global, has agreed to merge with independent film studio�*s controlling stake in the company. the merger will result in a new business worth $28 billion. paramount says it expects to close the deal by next summer. for more business news and updates, do log onto our website bbc.com. and that�*s it for this edition of business 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. som

we've got a morning mover, this is paramount global. it's up in the premarket 4%.he entertainment giant are moving this way because they've agreed to merge with sky dance media. this is going to end the 40 year involvement of the red stone family with the hollywood company. sky dance and investors have agreed to spend more than a billion to acquire national amusements, the family company that controls paramount and they'll invest in the new iteration of the company. this is going to include sky dance injecting 1.5 billion into paramount's balance sheet that can be used to pay down debt. the stock is down more than 27% in the last year, this has been a long drama that has finally it seems coming to a close for paramount global. coming up, discord on capitol hill as democrats are scrambling to either stay the co president biden or look for this replacement. ohio congressman warren davidsons is here on the house's priorities as they return from recess today. that is next. you're watching "mornings with maria" live on fox business. ♪ so, what are you thinking? i'm thin

skydance media and paramount global announced they reached a deal.hari redstone will sell the family stake in the company. the breakthrough came after skydance sweetened the offer to the redstone family. now $1.75 billion. it enhanced legal protections from the shareholder lawsuits. the deal gives paramount 45 days, i'm sure they will, to find a better offer. >> this is the first time they've actually announced it. before, it's been sources say or speculation around. this was a pretty big deal for the redstone family to be able to say they have the legal protections because it is widely expected there will be shareholder lawsuits. you want to be protected from that if you are going to say okay, gohead with the deal. 45 days means game on. >> whether they are getting good deal now or not, i don't know if it is best deal. over the past five years, it hasn't been handled. >> rich greenfield said depending on who wins the next president election, maybe there is room for other days to come with a better offer. we will see where that leads. >>> hurricane b

anyet another turn this morning in the takeover drama at paramount global.nally have a deal? "squawk box" coming back with that after this. ♪ ♪ ♪ ♪ >>> welcome back to "squawk box." tesla stock up again this morning, adding on to gains. our next guest raised his price target to $250. joining us now is garrett nelson, cfra senior equity research analyst. make your case, sir. >> sure, thanks for having me. you know, while everyone was focused on the auto delivery numbers they put out yesterday, the much bigger story was on the energy storage side. they just reported energy storage deployments of 9,400 megawatt hours in the second quarter. that was more than double the record high from -- that they reported in q1 and so while that segment is still a small percentage of the story, it was only 8% of total revenue in q1. the growth that they have been talking about for a long time is really starting to show up in the numbers. so i think that's a big reason why you see -- why you saw the move in the stock yesterday, and then another move up here premarket in the sh

which, just like cbs, is a division of paramount global. >>> now to the investigation into the shooting at that trump rally. cbs news has learned the secret service had actually ramped up security for donald trump before the rally due to an assassination plot by iran. cbs' meg oliver is in butler, pennsylvania, with the new reporting about that iranian plot. >> reporter: cbs news has learned information from a human source along with a running chatter picked up by intelligence officials worried them enough to increase former president trump's security last month. there's been an ongoing threat to assassinate trump since he ordered a u.s. drone strike that killed qasem soelimani, the head of iran's powerful kuds force. there's no known connection between iran and the assassination attempt over the weekend where the u.s. secret service faces increasing scrutiny. a local law enforcement officer tells cbs news three snipers from a local tactical team were inside the building where the shooter fired from. one of the snipers saw thomas matthew crooks outside on three separate occasions, obser

discovery is looking at an earlier position then of paramount global, in order to combine warner brosdiscovery's max as well as paramount plus. let'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 to

paramount global, the parent company of cbs is merging with sky dance in a deal valued at about $28 0 guidance is known for producing hit movies like top gun, maverick and the mission. impossible series. the merger marks the end of the redstone families long tenure at paramount. the deal is expected to finalize next year. coming up. elkton john is - lift the clouds off of... - virtual weather, only on kpix and pix+. >> thomas: i'm asking you again... will you marry me? yes or no, hope? will you be my wife?

we'll keep an eye on that we'll paramount global, the parent company of cbs is merging with sky dancen a deal valued at about $28 0 sky dances known for producing hit movies like topkin, maverick. and the mission impossible series. the merger with paramount marks the end of the redstone families long tenure at paramount. the 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

paramount global struck a deal over the weekend to merge with skydance media, a longtime production partnerellison set to serve as chairman and ceo of the new paramount. the deal values that combine 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

july 9 faces up to 18 months in prison the trial judge rejecting a motion to dismiss the case paramount globalmerge with paramount+, quickly hemorrhaging money reports that warner brothers exploiting merging with paramount peacock reportedly in the mix could open glad gates for more streaming partnerships to stabilize the industry we have seen big partnership so far we've got disney plus, espn comcast launched a package including netflix comcast apple tv together very confusing paramount shares i said netflix -- paramount shares 3 1/2% "new york times" is reporting that barry diller is exploring a bid for paramount what to do is the question i know you are trying to get in cheryl. cheryl: i agree with you 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 contaminat

we've been talking about all the chaos going on with paramount global, selling, deciding not to sell. 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. >> despite expectations for a slump in sales, we'll trade at three other names in three stocks. stock is up

>>> 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. >>>

attempted to pay paramount pictures but outbid by which stone is the latest to explore to take paramount global over. 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 her

paramount global down 4% on news it finally agreed to merge with skydance, and a months-long negotiationontrol over the legendary move, that's your power check. we'll be right back. the moment i met him i knew he was my soulmate. "soulmates." soulmate! [giggles] why do you need me? [laughs sarcastically] but then we switched to t-mobile 5g home internet. and now his attention is spent elsewhere. but i'm thinking of her the whole time. that's so much worse. why is that thing in bed with you? this is where it gets the best signal from the cell tower! i've tried everywhere else in the house! there's always a new excuse. well if we got xfinity you wouldn't have to mess around with the connection. therapy's tough, huh? -mmm. it's like a lot about me. [laughs] a home router should never be a home wrecker. oo this is a good book title. >>> welcome back. s&p 500 hitting another new record as key inflation and data are on this week's agenda. our next guest says the 2% target won't be met without an extended period of -- i'm always trying to pin you down. i appreciate having you here. i thought, i

favors for gold bars and cash a consortium led by skydance media is nearing a deal now to acquire paramount globalamount's special committee has reportedly signed off on the agreement and celebrations in the streets of paris after a french voters rejected the far-right alliance and sunday, a second round parliamentary election crowds cheering and new popular front, hundred and 82 seats when we know that fall short of a majority that now leaves the government gridlocked. but did head off a takeover of sorts by the national rally, the far-right party president emmanuel macron's centrist ensemble alliance captured 100, 163 seats. the far-right finished third after a really strong showing in the first round, french prime minister gabriel or tau tendered his resignation sunday. although macron is asking him to stay on while while the far, while the leader of the far-right's at the country has been thrown in instability you see tonsil swab, the philippe tell you in all seriousness that the private millions of french people of seeing the possibility of their ideas and thoughts are represented in governme

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

liz: breaking news, sony is out of the running for a deal to purchase if paramount deadline reporting that it and apollo globaler this, a combined $26 billion offer earlier -- will not make a new bid during paramount's 40-day so-called go shop heard period. paramount had accepted skydance media's offer on monday, but now some shareholders are threatening legal action over that transaction. apollo's down half a percent, sony's up half a percent. paramount global continues to fall, it's down more than 1%. what are you hearing, charlie 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 a

paramount global agreeing to merge with skydance media.hat deal, which was approved last night by a special committee of parmamount directos is a two-step process. s skydance is run by david ellison and will merge with paramount and paying $4.5 billion in cash or stock to investors and paying $1.5 billion. paramount now has a 45-day window to find a buyer. the deal ends a four decade run of the redstone stfamily. that deal has to be finalized. we will continue to watch the developments as they develop. >>> turning to the gulf of mexico and the developing story as beryl makes status as a category 1 hurricane. it is expected to hit category 2 status over the next few hours as it tracks north. we are watching oil as drillers remain closed in advance of the storm. looking at the lows of the morning. let's send it over to jay gray live in port lavacca, texas. one hour from the eye of the storm. jay, good morning. >> reporter: good morning, frank. this storm has made landfall within the last 15 to 20 minutes here. you are looking at lava an ca b

. >>> paramount global has agreed to merge with skydance. paramount signed off the deal on sunday. skydance's founder will take the helm after the deal closes >>> nascar is going electric, unveiling a prototypeprototype, accelerate twice as fast as the gas-powered car. plans to reach net zero emissions by 2035. >>> this weekend's release of despicable me 4 showed the box office continuing to make a comeback, according to studio estimates, the latest movie from our sister company universal debuted with $122.6 million at the box office. back over to you. >> love that. don't mess with the minions. >>> coming up, millions of americans are making their way home after the long holiday home after the long holiday oooh! this is our night! shingles doesn't care. but shingrix protects. only shingrix is proven over 90% effective. shingrix is a vaccine used to prevent shingles in adults 50 years and older. shingrix does not protect everyone and is not for those with severe allergic reactions to its ingredients or to a previous dose. an increased risk of guillain-barré syndrome was observed aft

we also have paramount global. they are surging. the name behind mtv and cbs, leading the market with a 6.6% gain on reports that a david ellison's skydance media, the deal to buy paramount is back on. price tag, a reported $1.75 a billion. archer aviation, the flying taxi people, their shares are spiking today too after stellantis, the automaker, says it's investing another $55 million into this company. ashley: all right, very good. thank you very much, lauren. >>> coming up, as we know, it's the fourth of july tomorrow, and people concern lucky them -- heading to the beach. but guess what? there's a shortage of lifeguards, so how is that being handled? we're going to ask a spokesperson from the american lifeguard associate. >>> despite a wave of criticism, fed chair powell says he's not focused on what might happen if trump is reelected. we've with got his full meants. >>> and during the debate, president biden claimed zero service members have died on his watch. remember that? if congressman darrell issa met with the gold star fa

the commissioner weighing in on the deal between sky dance and paramount global saying they'll evaluatehey should renegotiate with cbs under the new ownership. the commissioner said as far as viewership, he believes the taylor swift element was a positive one. there's been a lot of chatter about expanding the regular season to 18 games which would involve moving the super bowl to president's day weekend. the commissioner noting it's a decision that would need to be made alongside the players association. >> julia, beautiful out there. >>> thank you for watching "power lunch." >> i'll see you at 4:00 p.m. on "closing bell: overtime." >>> welcome to "closing bell: overtime." i'm scott walk at the new york stock exchange. we begin with a market meltup. ed yardeni will be here to discuss. >>> we start with the russell today which is ripping to say the least. this could be the best day of the year for small caps today after that softer than

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

deal is back on meantime between paramount global and skydance media. yeah, i know you've heard this before, but bear with me. talks fizzled last month, but reports say skydance, the production company behind the mission impossible movies, has reached a preliminary agreement to buy paramount's controlling shareholder, national amusements. now, skydance will then merge with paramount, a deal that must be approved by a special committee of 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 n

meantime, also asked diller whether or not he was still in the race to buy paramount global. is over. it was over for us when -- it's unwise to get in an auction with someone who has a pretty much unlimited balance sheet. >> barry diller never one to hold back on just about every issue. we touched on so many, guys. >> says funny stuff, too. >> whatever he thinks. so refreshing. >> tee it up. tee it up and see what happens. but -- yeah. interesting. >> it is one of the more entertaining things we ever do, because most people will not tell you exactly what they're thinking. they're calculating and not going to say that stuff on-air. barry says it ony-air. >> if you're wondering, don't say it. >> that's why he's great. he doesn't have to. >> doesn't have to show up every day on tv. >>> kukcoming up, breaking inflation data and later senator tim scott talks crypto in the midst of the biggest event of the year for bitcoin down in nashville. which would be a cool place to have that. go, abby go! go, abby go! we would love to have riley on the team. ♪♪ -i made the team? -yeah! [game

paramount global. my question for you is this. the there's a 45 day go shop period that just began.k at a lot of things and there's certainly some history with the company, and our chairman, and maybe there's an opportunity. maybe not. we'll see. but we're an opportunistic company and look at things when we think there may be something to do. >> so if there's still a chance you might make a bid for paramount global, which barry diller asserted maybe it's still a possibility, just yesterday. my question is -- what does that say about what you're interested in right now? i ac does not have traditional media outlets, meredith, a publishing business. where does this fit in or what does it mean for your vision of the company? >> i don't think that any particular company defines iac or has historically. we have companies in a wide range of things. you mentioned meredith, biggest digital publisher and fantastic business but that ranges from a large interest in car shares mgm globally and angie, home services. there's not ap consistent pattern among any of those than we think category leade

shares of paramount global down 5% today after it was announced over the weekend that skydance mediahollywood studio. why were the shares down today? it's the old adage buy the rumor, sell the fact that's what we see here. and speaking of facts, here's one for you to watch out for job related scams are on the rise. in fact, the volume of scams out there related jobs more than doubled last year. according to the identity theft resource center, the federal trade commission says many of these scams result in losses of about $2000. you want to be wary of them, need to say ai is playing a factor in this. it helps the scammers create realistic, looking bogus, job offerings and it helps them look more like we'll recruiters. many of these scammers are based overseas. ai allows them to smooth over any problems with grammar or spelling or things like that. what you need to watch for don't go for any job that is exclusively playing out in texts and emails. if there's no zoom call, you're not going to be interested. moreover, any job that requires you to put up a little money before you're going

always talks about m&a, and the big deal this year is the one that was just announced between paramount globalnd skydance. there's been some discussion of the fact that if there's an ownership change of cbs, which broadcasts some nfl games, then you could renegotiate with cbs because of its new parent company. do you plan to? what do you expect to happen? >> well, listen, cbs has been a great partner for us, back to 1956, i think. they have been extraordinary right up to the super bowl this past year where we had record ratings at the super bowl, over 200 million people watching. so, they have been a great partner. we'll obviously -- paying close attention to the process. we know skydance. we're partners with skydance. they've done a terrific job with our relationship. so, we'll look at the structure of the deal. we'll see how it impacts us, see how it impacts our business, and we'll make the best decision for the nfl at that point. >> but given the fact that the nba is now negotiating for its rights, $75 billion package, roughly, do you think you're underpaid for nfl rights? i mean, you negot

paramount global agreed to merge with skydance media. it's a two step process. for $2.4 billion. then it's going to merge with paramount for an extra $6 billion. paramount media's empire includes cbs, mtv and a lot more. this deal ends years of speculation and some pretty tough negotiations. >> well, the santa rosa city school district may soon consolidate schools to save money. the santa rosa press democrat reporting that the district is right now facing declining enrollment and growing budget problems. and a committee is going to examine the projected enrollment at the district's current schools to see if some of them can be closed. that panel is going to meet during the next few months before setting out its official recommendation for possible consolidation to the school board. >> our time now 748. a growing number of younger san francisco residents live alone. san francisco chronicle examined information from the census bureau and found that 21, or about 1 in 5 people between 25 and 44 years old, live by themselves. that's up from less than 15% back in 2018

sky dance has a per luminary agreement to buy the national amusements and merge with paramount globalt the deal could still fall apart. oil is trading near a two-month high this morning on signs of a significant down drop in u.s. crude stockpiles. crude inventory shrank over 9 million barrels last week. if confirmed, that would be the largest drop since january. crude has remain solidly higher this year with a whole lot of risks including hurricane season and hurricane beryl approaching jamaica, elections, and geopolitical risks in the middle east. the tsa expects more than 32 million people to fly over the july for holiday. aaa is expecting more than 60 million people driving. that is your bloomberg brief. jonathan: thank you. up next on this program, do not miss this. annmarie joining us after she sat down with u.k.'s president zelenskyy from ukraine, up next -- ukraine's president zelenskyy from ukraine, up next. jonathan: equity futures right now on the s&p 500 totally unchanged. let's catch up with our colleague, good friend, cohost annmarie, who sat down with the ukrainian presi

global paramount president chris mccarthy is praising him for his ability to bring his depth and authenticitygood. >> robin: he was with us in the studio not too long ago, richard gere. he is fascinating. there's a depth to him. >> lara: lot of ladies think he's -- [ laughter ] something for everyone. now we have a little bit of olympics news. paris olympics just 25 days away until the opening ceremonies. team usa is forming with trials happening all over the country. one of those chosen for the paris games is a grandma. she competed in the u.s. olympic race walking trials in oregon over the weekend. that's pop news. the extended version. >> robin: and a great one. let's get to ginger in phoenix. >> ginger: do you know what, robin? dangerous heat waves set up for the 4th of july weekend. portland above 100. they have less air conditioning up there, too. this is a good time to review what is heat exhaustion, heat illness, and what is heat stroke. the differences are lined up there. go through these with your family. if you have any questions, call 911. let's get a check closer to home. >> robi

. >> the growth of the league globally is fantastic. >> paramount.nius? >> it's a great opportunity. >> you asked the overall they started as dreamers. but today, they're stars. follow every moment of team usa on the network that brings you legendary speed and reliability: xfinity mobile. with xfinity mobile, you'll have the most powerful mobile wifi network with you on the go with exclusive access to speeds up to a gig in millions of locations nationwide. and right now, xfinity internet customers can buy one unlimited line and get one free for a year. get the fastest connection to paris with xfinity. >>> time now for the "squawk planner." on the economic calendar, the fed is kicking off a two-day policy meeting tomorrow. we get the interest rate decision on wednesday. it could signal a cut at the following meeting that comes at september. it is all about the language and body language and what fed chairman powell actually has to say. it is also jobs week. wit we will get adp payroll on wednesday. on the earnings calendar, we hear from mcdonald's at

giving economic stake to paramount and having it be a global offering.o 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, they'll wait to see what's happening, but they won't want to miss out on one of these deals. >> i think if you're warner bros. discovery, it's the antitrust concern. you're stilly not going -- you're going to fight a year and a half, watch a lot of that value start to evaporate over that period of time, so when you close the deal, the synergies available to you are no longer anywhere near what they were. i think that's the case for our parent company as well. these are tough deals to imagine doing -- that could change if we get a change in the administration. >> warner is restrictive for various reasons, not like they're soaring themselves. for comcast, our parent company, disney, netflix. this is kind

clients are not de-globalizing, necessarily, but looking at each market much more carefully than move. north and south america and middle east and asia are para paramountrope lacks top-line growth and technology and a.i. which is the second point becomes even more important. in asia, the issue really is if you are big in china, do you want to be bigger given the taiwan risk? when i say bigger, if your sales in china are 10% or 15%, which is where it should be because china is 18 trillion out of 106 trillion for the world. if you are in that level, do you want bigger given the potential risks? i think the u.s. and china relationship is imponderable. having spent time in beijing, i think the chinese government is waiting to see what happens in november and waiting for donald to see whether tariffs will be the order of the day. i don't think if kamala harris is successful, the policy will be radically different. doubtful we'll have tariffs at the level president trump is talking about, but a continuation of what we have seen with president biden which is de-risking. not de-coupling. the fundamental issue with china and america is they both see one another

paramount be holders holding 30%. back to the earlier point, who is going to be on the ballot? president biden remains the affiant despite growing pressure to quit the race. he has touted his globaldentials. >> i am [indiscernible] i am the guy that shut down putin. if the lord almighty says joe, get out of the race, i will get out of the race but he is not coming down. david: let's bring in our managing editor for breaking news. he is sticking to his guns. >> he is. joe biden has a busy schedule coming out. he has the nato summit in washington. he has packed campaign travel to swing states. this is a sign from the president that says vocally that he has no intention of going anywhere. reason we are talking about this at all is because of the debate performance raising a lot of questions including from democratic allies as to whether joe biden is the best guy to go against donald trump. i want to read you -- there have been 11 polls, national polls, that a been done since the end of the debate. entirely conducted within that. 10 of the polls have donald trump ahead. one of them has a high. the best surveys that joe biden has gotten in recent days came out of a bloomberg morning p

. >> what max/hbo has that paramount plus and peacock don't have is more of an international global franchiseaming success is going to be a function of how global you are. so, i wouldn't be surprised to see some move, that would in some way drives the consolidation on the streaming front, among legacy medial players. >> all right. tom. >> becky, who took their eye out -- it could be less than 4 billion, probably, too? >> if you want to count numbers, count emmys, emmy nominations. >> okay. so it would be less than that, probably, tom, thank you. i really wanted to know when you said 2 billion. it could be 2 billion people -- >> tom, thank you, sir. as always, when we come back a lot more on "squawk box." president biden unveiling a plan to cap rent hikes but will it help shield families from hnflation. jof ford is going to be here. and yes, he's going to weigh in on one hand or the other. we'll come right back. dude, youk 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? sure, i'm a paid actor, and this

global blockbuster coming in to the holiday weekend, box office sales were down 20%, with the family-friendly entertainment despicable me for inside out two were seated recover. david: sky dance media and paramountto merge, give us a detailed, the stock is up a nickel, sky dance david ellison's production company will shell out over a billion dollars to take over national amusements, paramount controlling shareholder from the redstone family, sky dance will merge with paramount ellison becomes a power player but he has a lot of challenges how do you reinvigorate cbs, mtv and even streaming paramount has 70 million, netflix 270 million subscribers but "the bottom line" it is an injection of cash when traditional media in decline. david: corning makes class for big-screen tvs, they are surging up over 7%, what is going on. >> any class for artificial intelligence they raise the sales forecast which will be later this month, that is primarily driven by the new optical connectivity products for genitive a.i. david: let's switch to pharma, they are surging today, what is eli lilly have to do with this. >> lily is requiring more 3.2 billion dollars in the values more at $57 a share, that was a 79% pre