>> that combination has brought big rewards to pixar and parent company, disney. films have made nearly $8 billion worldwide, breaking box office records. >> they've had success after success after success. it's not a formula you want to tinker with. >> and that formula is simple -- make great movies. >> we are about putting stories into the culture. we're about telling stories. >> welcome to pixar, where he employees ride around on

in a marine mammal park and that is not the case any more and talking about kids and influence, if pixarnges the end to the up coming movie and it implies marine parks are not good places for these creatures, kids are going to naturally have a resistance to them. >> you made my day. i have not heard that one. that is really good. >> i can tell you something you don't know because that is difficult to do generally. >> i will promote the movie and we have millions, a coalition of people in groups and there is millions of us out there, i will make sure they see the movie. >> if you lose the kids and they do this and that is the implication at the end of the movie and you lose the kids' interest in marine parks do they fail or are they too big to fail? >> i don't want to see them fail. >> dwha -- what do you want to see? >> we are not revolutionary and are not anarcists, i would like to see them revolutionized. the end goal is really to stop all capture, this is the solution stop capture of dolphin and other wales for casual amusement and those that are in captive and can be rehabilitated an

whether it was pixar, lucasfilm, which obviously gives them the star wars franchise next year, those three deals, you are talking about $4.7 billion. -- if you add it all up, $15 billion. need to do iney the context of everything going on around it? >> time warner is reporting earnings tomorrow. and there's the looking question of whether disney has an interest in cnn, and what that might do to our business and what that means for the cable business at large. the parks business is overlooked. it does $15 billion in revenue. it crushes what the studio entertainment does in terms of revenue. and there are some changes going on. one of the investments they've made is in a lot of new technology. they have this program called "my magic," and not to overemphasize wearable technology, but parkgoers are able to have their tickets on a wristband, their room keys on the same wristband. moveis allowing them to people around the parks better, give people a better experience at the park, and potentially bring more people in disneyland, disney world, and at the attractions. that could eventually m

for seven years, she worked at emeryville's pixar studios. her names are high up in the credits as art and story department manager for "the incredibles" and "monsters, inc." esthers went on to get her masters and studied issues facing women in the media but she's not the type to write another paper or do another study. >> i'm sort of a little bit "shoot first ask questions later" person. >> esther wanted to do something to help fix what she sees is a problem. that's why last year she started camp real story. three dozen young women working in teams to create short films. they shoot, edit and learn to collaborate, all under the eyes of volunteers, female, of course, from the world of film. and they do it all in just five days. >> we were really, really surprised at the quality of work considering that none of the girls had any film and video experience. >> norma, a high school senior from oakland, had never considered film a possible career for her. she does now. >> at first, i didn't really think of how people are portrayed in media. oh, it'

just over $7 billion for pixar. a lot of times acquisitions don't go right.proven, through being able to do not just an initial blockbuster but then sequels and even going back to the catalog and making hits out of obscure titles that they really know how to do this. this is really good. >> obscure is basically the understatement of the century. i mean, i thought the raccoon, when i first saw it, was that character from "firefox" which was a video game i played in the '80s. they did $94 million. and they did a great advertising campaign around this. they put it out there. they kept saying marvel, marvel, marvel, showing some characters. and then people went and saw it. it shows how much is in that catalog to jon's point. >> disney is going to be one of the most closely watched media names of the quarter. i'm wondering, do you think these studios will be the gifts that keep on giving, jon fortt, or do you think we'll start to see some weakness? we are in the third quarter. so something like "guardians of the galaxy," we won't see it manifest itself in this qua

when disney went and bought pixar and bought marvel and bought lucasfilms, it was not necessarily ifs would like the story today or tomorrow or in the next two or three years. >> i hope they like marble because that is a great franchise. >> i like marvel. thanks so much. we have to leave it there but tune in this afternoon for the interview with the disney ceo with jon erlichman. theoming up, he was one of good guys in michael lewis's best-selling book about high-frequency trading and now bruce katsuyama is here to set the record straight. ♪ >> coming up, you read about him and michael lewis's book and brad katsuyama has some things to say and he will be here after this next break and it was a the founder of, edible arrangements thinks he can get it right again we will ask him about his new project. ♪ >> live from bloomberg headquarters in new york, this is "market makers." >> good morning once again. i am alix steel. was ad katsuyama mild-mannered canadian traitor until michael lewis made him the hero of his controversial book about high-frequency trading and now brad has had to mou

he has done a lot of content heels over the years with pixar to the acquisition of marvel to the acquisitionf lucasfilm and even more recently with that new generation of content creators studios.e with maker >> when do you book your flight to china to check out the new disney theme park? it hasshanghai resort, been a long time in the make him. this is obviously scheduled for the end of next year. this is a company that has already spent a huge amount of money over the last few years renovating parks like walt disney world in the united states. this will be a very important moment in disney history. bob iger and the rest of the disney team is excited about the prospects of having a business in mainland china. chinese,atered for the the theme parks that some of them have already experienced in other markets. it is one that will be interesting to watch in terms of the succession story at disney. the parks business is currently run by tom staggs, so he is hard at work at that project, and people often mention of him as the ceo. >> we are looking forward to seeing jon erlichman at disney china w

the purchase of pixar, the purchase of marvel, the purchase of lucasfilms has given them a bigger stable distribute already. >> what are we likely to see in disney's results today? think, be on the performance at the box office, which is highlighted by films like the marvel movies, captain america the most recently in they are so dominant .hen it comes to profitability that will be part of the story to watch. >> thank you. keep watching bloomberg for john's interview with disney ceo bob iger. that is coming up at 4:30 p.m. new york time. ♪ >> get the latest headlines at the top of the hour on bloomberg radio and streaming on your tablet and at bloomberg.com. that does it for this edition of "bottom line" and i'm mark crumpton. i will see you tomorrow. ♪ >> it is 56 passed the error, which means bloomberg television is on the markets. i'm a libyan -- i'm olivia sterns. besident obama will delivering closing remarks at the u.s.-africa business forum. i will bring you that live when it begins, or you can also watch it live at our event channel bloomberg.com/tv. and also, an interview with m

with the dividend, one argues they say one thing and do another. >> wow, well, the pixar-zinga fork in continue to be a topic of discussion. >> always hate to say "i told you so," but actually you love it. >> thanks, john. >>> when we come back, the tax loophole companies like waste management, deere, and southern company have been using for years, but could cost the government more than $200 billion if it gets extended. we'll have details on that when "squawk on the street" comes back. i'm only in my 60's. i've got a nice long life ahead. big plans. so when i found out medicare doesn't pay all my medical expenses, i looked at my options. then i got a medicare supplement insurance plan. [ male announcer ] if you're eligible for medicare, you may know it only covers about 80% of your part b medical expenses. the rest is up to you. call now and find out about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement insurance plans, it helps pick up some of what medicare doesn't pay. and could save you in out-of-p

pixar studios would eventually revolutionize movie animation and make jobs a multibillionaire. apple hadn't done so well, and a decade after jobs left, it decided to buy next computer and the services of jobs as a consultant, but he would soon take over as ceo. and when he goes back, it's almost bankrupt. >> it's, like, 90 days away from bankruptcy. they're totally out of money, and it's lost its way totally. so he says, "here's the 27, 30 things you're making," printers or whatever. and he draws a chart that just has four squares, and he says, "professional, home consumer. laptop, desktop. we're gonna make four computers." >> he retrenched, firing 3,000 people, and launched a new advertising campaign. >> here's to the crazy ones, the misfits, the rebels, the troublemakers. >> steve jobs helped write that himself. he edited it 100--he put in, "they changed the world." by the end, jobs, along with four or five other people, have written this not as ad copy but as a manifesto. >> they push the human race forward. and while some may see them as the crazy ones, we see genius. becau

he has 50 million into pixar and 50 into next of the company is on the ropes.hey announced it with this lavish launch, we all know about the launches. now the spring and they not built a single computer. don't have a factory with a robot. this is the chairman of cannon and his team. cannon wants to invest. steve is asking for 100 milliondollars and a bunch of stuff. he heard they only want to give him 50 and double the equity. and comes into the meeting wearing sweater vest. right off the bat he starts off, awkward note, this is '80s, japan was as send ant a steve wasn't showing proper respect. he starts off making six, unreasonable, ridiculous demands on agenda. took him hour 1/2 to get through these. everyone was baffled. finally chairman of cannon says i need a break. he goes out of the room. steve turns to the team, you guyed --ed up this deal. steve stormed out of the room. what just happened. people looking at me like i know. john is how the out in the hall. he told me 20 years later what happened. steve was laughing in the hallway. steve, why aren't you

he is 59 and pixar and 50 in next. the companies on the ropes. they announced its lavish launch which all know about these launches, but it's not the spring and they have built a single computer. they don't even have a factory of robots. he arranges a meeting with the chairman of cannon and his team. can and wants to invest. steve asking for what it meant dollars and a bunch of stuff answered they want to only getting 50 and want to double the equity wants to give, and he comes into the meeting wearing a sweater vest. right off the bat he starts off in awkward know. this is the '80s. he wasn't showing proper respect. he sits down and he starts making six ridiculous, unreasonable demands that were not on the agenda. it took about an hour and half for him to get through these, everyone is baffled. finally, the chairman of cannon says, i need a break. he goes out of the room. steve turns to steam, you guys have messed up this deal. he storms out of the room and we are like what just happened? people look at me like i know. john bryson is out in all

. >>> well let's check your forecast, 6:33, live picture of emeryville, home of pixar and pete's coffeeould use it as we're checking in with meteorologist christina loren. >> you buying? >> absolutely, because it's free over there. >> i know, right? i'll get on that, i think you do need a warm up after that weather forecast. because it's going to be a pretty nice day. i've been able to put it on autopilot. here in the weather department until the past couple of days. because we've had average weather as of yesterday, we bent above average and we are going to go a little bit warmer for today. we're starting out with more 50s out there. 59 degrees in half-moon bay. 57 in san martin, that's three degrees cooler than yesterday. in san francisco, meanwhile, a taste of the mid50u6 and even the ummer 40s depending on where you're waking up with us in the north bay this morning. this is something that we've been telling you about really in passing, the los angeles area, big surf for us, we're going to get a little bit of the rough seas as well. and especially at our southern facing beaches. so

guardians of the galaxy, that marvell franchise, you've got star wars, pixar. >> let me ask you this,you have have a great movie, great actor was b but the secret sauce is missing. have they finally institutionalized the process or are they just lucky? >> i'd like to say if everybody could make hits, they will. but the most important thing for disney isn't really what happens on the studio. hits do they develop a franchise and does it go into a video game and theme parks. >> so i asked that question because i wonder, how do you put a multiple on those profits? if you look at wall street firms, the multiple on trading profits is one. they never know if you can replicate it quarter to quarter. what do you do with this? >> i think when you look at the stock's reaction to last night, what on the surface are really good numbers, you see the studio did drive a lot of that. but on the tv side of the business, which is still 60% of the value there, there's some choppiness. one of the things, for instance, to be neutral on the stock is the rising cost of sports. >> i was going to ask you about

if you look at her kisses like -- if you look at businesses like pixar, acquiring lucas films, add thoseding at the parks like we were talking about, you are talking about some of the big drivers of what is happening financially in all parts of the business that we will be talking about later today outside of say, something like espn. >> what are we likely to see with these results today? show?s espn going to >> it is always worth talking about because despite the efforts at the parks, the film business, the acquisitions that they have done, the media network's business, and espn is a huge part of that, represents s of thest to two-third whole business, so as espn goes, so does disney. you highlighted the film industry, and "guardians of the galaxy" had a big weekend for them, and another film will be influential, "captain america," and people keep talking about "frozen," and the success of that film at the box office and in product. >> all of the movies my kids love. thank you so much. jon erlichman. keep watching bloomberg television because jon erlichman will interview disney ceo bob

with the success of disney and pixar, how important is branded gear in a time when people are aware ofuch they are paying? it does cost more to get elsa on the short, i know. >> it is very important. otherwise i am picking the lowest price. when you have 24-year-old saying daddy, i want "frozen." if you can afford to, you will go for "frozen." throughen will blow bargain shopping. >> compare with the holiday season? >> it is much less important. it is a precursor to how people are feeling. i have got to buy, get them sneakers, jeans, a backpack. i've got to do it. in general, people are not buying everything at once. they are buying gradually as they go into the season. it is a different kind of season. >> you say it is less important, it seems like it is a lot more expensive than it used to be. when i was growing up, it was apparel and sports quitman, maybe staples. now, it includes a lot more categories. is there any industry that does not get a boost from back-to-school? >> very few. a really good point. everything from beauty products, technology, home goods. all of those things. r

there wasn't a pixar movie at all this summer. >> talk about this movie.ini was working on. >> this is the last film. it's a crime film. he's sort of back in that tony soprano mode and i think that alone makes it an interesting film. the last film recalling that character. that's going to be a big draw. >> i receive trailers for "the equalizer" coming out in september with denzel washington. it comes out of a series i used to watch back in the '80s from cbs. >> the guy on the show is like a retired secret agent. he's trying to atone for his sins. he plays a retired secret agent trying to atone for his sins by helping people. in this case he's help inging people like this young woman. >>> in october ben affleck is coming back to the screen called "gone girl." it's a bestseller. >> yeah. our director is one of the best directors. he made "seven" and "panic room" and "zodiac." i'm excited about the movie. the one thing i'm worried, the last adaptation was "the girl with the dragon tattoo." hopefully he'll make up for your this one. >> the last one "anabel." >

disney and pixar investments. lucas' films. next december we have the star wars movie. this studios sensation that has become disney's going to continue for a little while. stuart: and that theme parks are doing well, too, right? >> kim parks are doing well. abc struggling a little bit this is a pretty good earnings report fifty-six real money and frozen. president obama may call upon his phone to keep companies from moving overseas for what he calls unpatriotic tax breaks. he is working with treasury secretary lou to count the benefits for companies that leave america. what is the latest on this one? >> the price action. a really negative to the down side. still double digits. walgreens has announced this morning that it will keep its headquarters in the united states after it buys the remaining shares. stuart: it is not going overseas. >> not moving headquarters overseas. that has wiped out nearly a seventh of the market cap. 8 billion. and so now we have top senators including elizabeth warren and senator dick durbin sending a letter to the president. act now. move f

we have some great pixar movies coming up, a disney animated film this christmas and live action.cent" a great example of the disney brand in action, business, and great stuff coming up. so, we feel that the studio is back and should be back for a long time. >> of course, everyone is obsessed with "star wars." is there anything you can tell us about the j.j. abrams film in the works? >> i can only tell you that production's under way. we had a very brief hiatus -- we have a very brief hiatus, due in part to the fact that harrison ford broke his ankle. but the footage we've seen is very, very exciting to us, and i think there are about 500 days left between now and december 18th, 2015, when the movie comes out. that doesn't seem like very long and there's a lot of pent-up demand. so, we're just as excited as the fans are about it. >> well, if you want to give us a sneak peek of the footage, we wouldn't say no. moving to the parks and resorts, i understand you raised prices a little bit earlier this year, but what's driving that up side, both in terms of the revenue and operating in

iger, and disney's track record in terms of m&a, the types of acquisitions disney has made marvel pixarve been in the category of brands in ip and content. they have not -- since the acquisition of fox family from fox in 2001, disney has not made a significant acquisition in the cable network space. and when you look at the value of time warner, andrew, so much of that value is in the turner networks, tnt and tbs. general entertainment cable networks that i'm not sure if bob and jay would like to double down on that business. >> question for the potential governor of the state of california, where many of these studios are based. would you supportive of a transaction between 21st century fox and time warner, given that invariably an argument could be made that lots of jobs might get lost? >> i, my philosophy is let the -- let these companies sort it out. and what i want to do is make california more economically competitive so that all of our industries and all of our companies can thrive. and then let the company sort it out. >> there's going to be a lot of people in the industry who a