studio had reported the was controlled by 93-year-old sumner redstone. this is bloomberg.

we were all waiting for sherry redstone to arrive last night. we have not seen philippe dumond at all and nobody has confirmed for us that he is here in sun valley. sherry redstone, interestingly, has taken on a really outsized role here, again, just walking the grounds, i have seen her several times today, sometimes alone, going to get coffee. more often than not, with other people. we have seen her with bob iger last night. les moonves gave her a ride on the way to dinner. we have not seen phillipe dumont. drama around disney. really, the viacom drama has been the biggest one here. they all got out of the same car. car, three people getting out of the small car. american made cars. cory: these are powerful business people indeed. you talked about the demeaning nature. i want to ask you about it a little bit. i do not know if it is demeaning, but reporters are separated from the people who actually do business. i don't think we should ever pretend that we are them and they are us, but there is a physical distance but on where reporters may gath

sumner redstone and his daughter do not want to get rid of it.he's got some time to do it, which means he does, the case is not being dismissed -- i should point out dauman filed the case to stay in his job. getting a little confusing here. sumner wanted it dismissed so he could fire him, the judge would not dismiss it. since he's in the job longer, he basically is can sell paramount, and that's what we're hearing he's trying to do. plus, they wouldn't give sumner a competency exam. so, like i said, split decision. charles: well, they have a new show out of this, at least a one and two-season soap opera. [laughter] charlie gasparino, appreciate it. >> you got it. charles: next, the big thing we're all watching and what it could tell us about our economy and where it could be heading. we're going to tell you all about it in 90 seconds. ♪ >> i'm nicole petallides with your fox business brief. right now the dow is down fourth day in a row, down 72 points making it a loss of about 170 points this week, a loss of one third of 1%. we're also seeing the

liz: redstone denied.d the motion to dismiss the lawsuit of removal of vie comb ceo, phillipe dauman and george abram from a trust that controls viacom or cbs corp. redstone dies or deemed incapacitated. if that happens, phillipe dauman says you want i want to be on the board. the judge said, that can go forward. the judge dismissed request for immediate medical examination of sumner rhett stone. it will be heard in massachusetts, not california like the redstone team was hoping for. we'll bring you details on the gigantic media giant. cbs, earnings out after the bell. we'll get numbers to you the is being they come out. to money and the election. the money has been pouring in for the hillary clinton campaign throughout the democratic national convention but it turns out some of her top donors are mia in philadelphia, not showing up. the most notable absentees, are the big bankers who clearly favored hillary clinton over donald trump, since the beginning of the election. should clinton be worried bank repr

an update on the redstone situation.he ufc confirming this morning it's being sold for around $4 billion which at that price tag stands to be the most expensive transaction for a sports organization in history. cnbc's robert frank is standing by with all of the eye popping details. >> eye popping indeed when it comes to wealth creation. the brothers made their first fortune in casinos. they hit the big jackpot today with the sale of ufc. they each held 40.5% of ufc which they bought in 2001 for only $2 million. they will each get under that valuation $1.6 billion in cash from the sale. now they'll have to pay down some debt and other considerations but before this deal forbes put the network of each of the brothers at 1.6 to $1.8 billion. their true network was far higher before the deal and now it's higher and most of that fortune is liquid. that's because this is their second big pay out in just three months. in april they took their casino company red rock resorts public and netted $400 million in cash. it was founded

and sumner redstone.rom people close to dauman, he's likely to exit the firm even if he gets done what he wants to get done. one of his big corporate legacy items to sell a big chunk of viacom's paramount unit. this is a huge political football going back and forth. one of the reasons the red stones want him out, he wants to sell paramount sumner and shari, the owners of viacom, i guess they're the owners. liz: they have the largest financial share. >> not to do it. that's the reason they want him out. this is from people close to him. i'm going to give you the banners. this is moving the stock right now. he plans to step down what people are saying sometime after he sells it, if he sells it. we should point out this is an if, the deal could materialize in the coming weeks. it's a big if because unless he can win in the court battles. this is wrapped up in court. he's suing the red stones, they're suing him in massachusetts and delaware state court. if he can't settle, he'll be out. these are people close

it's all about sumner redstone. this is bloomberg. ♪ vonnie: i am vonnie quinn. is your global business o report. who sources say have the best chance for the yahoo! winning bid. vonnie: the second time is no charm for bayer. the company is open to further conversations. will look at indonesia's shrinking rain forest. indonesia is already the world leader and forced lost -- in forests lost with the dry conditions from el niÑo making the situation more dire. nnie: the winning bidder for yahoo! may be made in a week. so far, yahoo! ceo marissa mayer is being tightlipped on the process. >> or boards independent strategic review committee, leaving a well-run and robust process continues to manage this effort and we are making great progress. while we have no announcement today, i can see that we're deep in the process of evaluating proposals and alternatives and will update shareholders as soon .s is it is prudent nejra: johnson & johnson updating its forecast with results driven by growth in the pharmaceutical division. shares of johnson & johnson have almost double

>>sn spending timee th sherry redstone. he's in a battle over her faer giant, viacom n nd list, which is sure t tension to these betiful mos. for nightly bs repo, boorsen in sun va idaho. >> to read h t our ite. mi up it's aoversial law causing one of america's > torow bld areng mtg rein the ger orri atas. atorthan d w it waro. l merha beteypa coos ja fui tud se g re awa nee 2 mi sroei onl sh l e sesn ikll sve meja atupss thr c fttft orolistu jo leefter ngth ic wtrde pean wiese a dice scsei ni tesbeud tbe. hi ate iciny rit etasag s la t ta 83li a. ea, wasasl islo nsgheod ye-samth gr ltu veef th bth wheat omhe sea ey ca i ttion oca'st compees itnoowheing. ns sg m 30 op o s t whin s f on busshoarbo g b b gli thnie nsse t t hisn't t sse i th ctu wa stwe tteni tottiar -c rusom thcsd l dina sge threin b innias . noroaw otshe fisner qn ishees wion h. othtins ra nthara. b 'sngta noronamilln, heao ouwenb >> fnial a llnar tkpp fbs hemegallnste g. thinas gh eowlsr f t ing ri j ird lar er imeiois a thnt.sor >>ther lookthe wre po aq g3

redstone to undergo an evaluation.nted the previous medical records delivered to the court by august 15th and wants a speedy trial. some surprised it's gone here. the viacom side happy about that. spending shareholder money on this continued pursuit. the question is, from many shareholders that i have gotten, whi what is the end game here? if you get reinstated to the trust, there's still going to be enough votes to continue to follow the path that sumner redstone apparently wanted. therefore, the directors at national amusements would still be out. and the five new directors would be installed at viacom itself. in delaware, a hearing today, as viacom there. so much going back to mr. redstone's extreme displeasure to at the move to sell a stake in paramount, something he is strongly against. his competency remaining in question, perhaps. there's this key. how do you judge his competency at the time he made the decisions to get rid of duman and abe ram from the trust? you don't. all of this will seem to eventually end i

will notnator redstone be able to avoid a lawsuit challenging his removal of directors from the boardf viacom. the judge ruled the case can go scheduledth the trial for october. redstone seeking to assert control over his $40 billion empire by rearranging fight comes management and removing two trustees from the family trust that will control the company. vonnie: private equity firms apollo andkr, carlyle group are considering a buyout of hewlett-packard enterprise. the deal could be worth more than $40 billion. that is your bloomberg business flash update. david: technology shares are having their best earning season since 2008, since reporting period began july 11. the group has jumped more than 5%. tech is getting a lot of help from alphabet and amazon. joining us is bloombergs cory johnson from san francisco in new york. curious about the degree to which this is about cloud computing. company that did so well this week are facebook, alphabet, and amazon. all those companies have a couple interesting things in common, one of which is their physical structure. all have giant, largel

david: sumner redstone is it controlling the company that actually controls cbs and viacom.s chief executive was kicked out. he sent it to court. the very latest on all this by the way is that the court made a decision that favors 94-year-old sumner redstone. does all of this soap opera with this gentleman affect shareholders at all? >> you know, in the case of cbs i think it affects it a little less because les moonves shown himself to be exemption allieder. david: unbelievable leader. >> right. and, so i think, in the midst of all of the turmoil, cbs really hasn't reacted in the same way that viacom has but viacom also had a number of issues that it had to deal with. some of their own making, and some that are sort of out of their control in terms of americament of their viewing. david: as long as they have les moonves, that guy knows how to steer the ship. thank you very much, jim. appreciate you coming in. >> quite welcome. melissa: wynn beating expectations on top and bottom line but shares trading down 6% after hours because revenue from las vegas operations shrunk mor

. >> haes been spending time here with sherry redstone. he's in a legal battle over her father's other giant, viacom. he's on attendee list, which is sure t tension to these beautiful mountains. for nightly business report, i'm julia boorsen in sun valley, idaho. >> to read more, head to our website. coming up, it's a controversial law causing one of america's >>> those record low bond yields are pushing up mortgage refinancing. the mortgage banker es asn reports a 21% rise applications last week. that is more than double what it was a year ago. >>> lionel message imessi has been sentenced by a spanish court to 21 months in jail. he was found guilty of tax fraud g con and he wasshore com fined more than $2 million. his father also received a r spanish law,term those lower sentences mean that he likely will n serve any time in jail. >>> activist groups are pressing their calls for boycotts after the north carolina legislature adjourned last week after not making any changes on the law that dictates where transgender people can go to will th

he seems to be staying close to sherry redstone. this morning, the canadian prime minister trudeau sat down in a fireside chat. there was a panel on the future of cities, including google's driverless cars guru. everyone is out enjoying the weather this afternoon. back over to you. >> yes. we all -- we heard every word you said but we can't get over how beautiful it looks out there in sun valley, idaho. julia thanks very much. see you later. >>> it's not a painting, i'm telling you. 20 minutes left in the trading session. investors have been flocking to utilities. we have somebody who says the traditional safety play could be more dangerous than it appears. >>> years ago the hit film love story had the tagline means never having to say you're sorry. but, now chipoitle has its own film called love story. we'll tell you its message coming up. >> really? >>> so with interest rates still so low investors as we all know have been searching for yield and they've been buying utility stocks by the boatload. our next guest says buyer beware.

. ♪ charlie: sumner redstone will not be able to avoid a lawsuit his or movablern from the board at viacom october. he has been trying to reassert control over hi $40 billion empire by rearranging the family trust that will control the company. the fight over his holding has over overshadowed many things. as thousands prepare to descend helping togle is share the experience without having to leave home. it has launched its street view in the famous football us -- avellas. residents were hired to shoulder a backpack and a camera. david has more. showing meant to be what they are really like to brazilians and outsiders. there is a lot of hype and rumor about what it looks like. there is a lot of curiosity. this is a white for people to see -- this is a way for people to see. charlie: sticking -- emily: major league soccer just had its first lead partner bucking the trend in the sports industry. joining from new york, thank you for joining us, what made you think this is the best strategy? >> we are thrilled to be partnering with major league soccer at an amazing time. major league soccer is

studio had reported the was controlled by 93-year-old sumner redstone. this is bloomberg. new signs that opec strategy to defend market share is working. the international energy agency said middle east crude production has climbed to a record. anthony, where is all of this coming from? the two main countries are saudi arabia and iran. saudi arabia was producing near record levels in june. back of seasonal summer demand where people are using a lot of air conditioning and they burn extra crude oil to make up the difference. iran is coming back from sanctions that were lifted earlier this year and have been speeding oil that to the market. they have been the fastest grower this year in terms of oil production growth in opec. and of course that opec numbers additional that came back, adding 200,000 barrels to production, so that is boosting the numbers there. angie: but where will it go from here? anthony: opec, which put the report out the day before yesterday, they are talking about increased demand through the rest of this year and into next year. so the ideas that demand

reuters has reported that wanda is in talks about eying a majority stake, but summer redstone is against sale. the news comes after it was reported that amc entertainment to buynding in europe odie on cinemas for $1.2 billion. a taste for fried chicken and china may have helped yum brands perform better than expected. roserands said net income better than analysts predictions , $.75 per share. the executive said kfc and china saw continued momentum. raised its forecast 14% this year compared to the previous 12% in the face of stiffer competition and a slowing economy and china. itsbrands will spin off business in china to focus on u.s. businesses. angie: still ahead on "trending business", getting behind the wheel and singapore has become more expensive. find out why later in the show. plus, japanese officials back away from plans for helicopter money, so what is left in the abenomics arsenal? we will discuss that and more next. this is bloomberg. ♪ angie: a quick check of headlines, japan's biggest bank is quitting as an underwriter of government bonds. moveys it is part of the to optim

we have an update on the sumner redstone competence lawsuit.t company or not? liz: yeah, california judge is effectively saying, yes, he's competent. had he rejected a new trial that was an attempt by sumner redstone's ex-girlfriend to bring a new trial. the judge saying no new trial, lost the case saying sumner redstone is competent. stuart: so he is competent to run the company. moving along. liz: moving along. stuart: we've been inundated with complaints of a pass in california. the correct pronunciation is the cajon pass, i got it totally wrong. but don't blame me, blame liz, you're the one who said it. liz: no, i didn't say it. you said it. but i'll take responsibility because i'm an american who's accountable. stuart: it's the cajon pass, let's not forget that. i did. sorry. how big this? it's a new game from anyone tinned owe called pokÉmon go, and it let's users play the actual pokÉmon game in the real world walking around with your phone. you're out there in the virtual are world but you're in the real world at the same time. it brings

. >> and potential monumental shakeups, with fire,, cbs -- viacom, cbs, the sumner redstone drama. >> hope it all settles down, and everyone is treated fairly. sumner has been a long-term friend and sometimes partner, sometimes frenemy, and you hate to see distress in a family situation. so i certainly hope it all works out for everybody's benefit. you know. >> would you be interested in -- >> they created some great assets over the years, and they are a very important part of our industry. >> would you be interested in buying the paramount stake, for example? >> would i? the theatrical side? no, that would not be where i would go, if it was my decision. they have some great assets. right at the moment, because of the turmoil, they are substantially undervalued. >> viacom? >> viacom, yet. i think they will straighten out. >> if you were a betting man, would you expect a combination of cbs and viacom? >> well, les moonves would do a terrific job, if they wanted to go that way, in my opinion. he's an excellent operator. sh i have no idea what, what erri has in mind as a strategic direct

the judge denied an immediate request for examination of r redstone's mental competentsy. >> a lot ahead on the halftime report. ♪ you've wished upon it all year, and now it's finally here. the mercedes-benz summer event is back, with incredible offers on the mercedes-benz you've always longed for. but hurry, these shooting stars fly by fast. lease the cla250 for $299 a month at your local mercedes-benz dealer. mercedes-benz. the best or nothing. >>> following facebook's earnings blow oout. amazon, shares are up 40%. >> not willing to bet against it. it's an economy of convenience and time. every time i've tried to go against amazon that's proven to be the wrong thing. if you get a pullback fantastic. >> we were talking about it into their prime day as you recall and that prime day july 12th said it will mark the top short-term top and it did and we fell about $30 from that short-term top and it got down to $17.28. now into these earnings i happen to agree with joe i think they're going to knock it out of the park. >> how does options activity look. >> it's mildly bullish. it's not crazy

sheri redstone is here. involved in legal battles for control of viacom. john donahue from paypal. the ceos from airbnb, pinterest and dropbox or perhaps ipo in the future or sale in the future that stuff goes on here among a beautiful backdrop and plenty of booze to make everybody ready to deal. melissa: what a name dropper you turned out to be adam shapiro. thank you so much. reporter: bff. david: hard to avoid it out here. hurting our heroes, new charges against the department of veterans affairs. why a congressional report calling for urgent reform again, at the va! when are they going to get this right. melissa: divided we stand. a woman kicked out of a restaurant showing support for donald trump. we're breaking down growing animosity on both sides of political aisle. david: comey's big faceoff with congress. emergency hearing on capitol hill and why he exposed hillary clinton for quote, extremely careless behavior and stopped way short of indicting her. >> i would really like to know the difference between carelessness and negligence because the director frequently referred t

sherry redstone did arrive.ave to the cameras and went inside after getting out of her dodge charger. we saw her with les moonves and bob iger. the bob -- viacom drama is playing out. the disney drama also playing out. tom stacks arrived. the president of espn and ben would of abc -- ben sherwood of abc showed up. there are macro issues playing out, as well. brexit is a big one. here is what michael ovitz had to say about it. michael: all of the people we were talking to, they'll told us the night before the vote that it was going to pass. those people in that community did not know. the people that voted to doubt don't seem to be ready to handle it. players have already resigned. it is really a mess. david g.: those executives who did talk to us saying it is an issue they will be talking about. markets go up, markets go down, but this was a dramatic event. brexit is not all they will be talking about. the presidential election is also on the table and there will be conversations about national security, as well

. >> as for rumors of a possible recombination of viacom in the wake of the sumner redstone drama, moonves says he won't company and the company feels like they are complete and cbs still evaluates every m & a opportunity. brian? >> julia, thank you very much. let's trade this media landscape, guys. by the way. when you look at cbs, cable networks, a little weaker than expected and advertising up, you know, operating income up 25% year over year and you have the "star trek" series coming out in the back half of the year which moonves is very, very bullish alone. >> that alone on "star wars" viewing will keep that way over the top. >> this is a really interesting setup here because we know the entire space has acted pretty poorly. will talk about disney a lot in the next week as we talk about their earnings. this is very cheap stock and then the -- >> why do you call it cheap? >> trade you 13 times growing earnings and 22%. almost 10% next year. there's not too many in the space that have that sort of growth, trading below a market multiple and you throw in the potential for a recombination

these were a model of the sergeant missile and they were putting them in stages, all on top of a redstone rocket and they really wanted to launch the first american satellite at jpl and they eventually do but i was shocked that they could have done this all a year this was launched. so the learning about the detail that went into that and much of the trickery that happened, they were working on all of this when they weren't supposed to. they were supposed to be only looking at nose cones for different rockets at the time and instead they were designing a space craft and looking at all these different rocket potentials and i that part of the story fascinating. >> it's pretty remarkable they were able to keep so many things quiet, particularly at jcl which has a sad history, especially during the red scare, of losing people to political concern. for instance, frank molina both had to leave because of the red scare. so it seems remarkable that a lot of these projects continued to be organized a little bit under the radar. do you have a sense, what where your subjects involved in keeping some

sherry redstone is here. she wouldn't say anything about all the questions that i had to ask. what's going on with the lawsuit. she told me she used to come years and years ago but hadn't come for many years and now she's very happy to be back here and seemed to be very much enjoying the panels. but she seems to be spending time with les moonves among other people. of course she's publicly praised moonves for his leadership of cnbc and she's in the lawsuit. if domane does arrive today, i don't want expect him to be hanging out with redstone. >> i'm sure you'll get a microphone or a camera near him at the least. thanks so much. all right. julia boorstin out in sun valley. >>> stocks to watch this morning, whitewave foods being bought by danone. the deal comes a little over three years after whitewave was spun off from dean foods what? >> didn't know where whitewave was from. dean foods is a big dairy company. so this was like almond milk and that other stuff. like silky and others. >> jpmorgan could be moving thousands of staff out of britain. that's from jamie dimon quoted in

. >> reporter: malone also weighed in on the sumner redstone drama saying viacom is undervalued and ifiacom and cbs merged cbs' les moonves would be a terrific leader. viacom's felipe dumond is skipping the conference for the first time in years. chairman reid hoffman just sold it to microsoft for 26 billion saying it's harder than ever to compete with the tech giants. >> i think once you get into a public company, if you're not throwing off a lot of r & d, ability to do r & d and progress your technology at a very fast rate then it's difficult to compete with them. i think startups compete with them and private companies compete with them but i think the question is as a public company you're held to, okay, what is your quarterly, you know, earnings? how does that growth look like and what does your ebitda look like? >> hoffman says he's exciting but suggestions so far and is confident that linkedin's team will remain independent. melissa, both interviews up on cnbc.com. >> almost sounds like he's relieved to be out of the public spotlight like that. >> well, you know, hoffman really

sherry redstone is fighting with i am hopingnt.\ >> it all settles down and everybody is treated fairlyn a long-term friend and sometimes partner and renemy and you hate to see distress in a family situation. i certainly hope it all works out to everybody's benefit. >they have created some great assets over the years. they are an important part of our industry. would you be interested in buying the paramount stakes? >> would i? the theatrical side? no, that would not be where i would go. if it was my decision. they've got some great assets. they are substantially undervalued because of the turmoil right now. i think they will straighten it out. >> if you were a betting man, would you expect it combination of cbs and viacom? moonves would do a terrific job of they went that way. he is a terrific operator. i have no idea what sherry has in mind as a strategic direction. i have no idea what kind of tax problems they will face in with a have to do to satisfy those. i'm sure it is a complicated process. shery: that was john malone. a panic in italy arises amid europeanhat they commission is

the redstone family company said it would undermine rather than uphold shareholders interest.rtedly seeking a deal between $8 billion and $10 billion. herbalife is not a pyramid scheme, according to the federal trade commission, which settles a long-running regulatory probe into the company this morning. shares of herbalife search to their highest level since 2014 on the news. they were up 25% from pretty low valuation. for more on herbalife, we are joined by bloomberg news'matt townsend, who has been covering the company's long-running travels -- troubles. >> it's a win for herbalife, a win for carl icahn. this is just one day. the interpreting of what ftc said and did and the order and changes they are bringing to the company remains to be seen. there's going to be an audit compliance officer in place for 7 years to make sure the company stands by this agreement. are the changes to the compensation plan and other parts of the business worth long -term hurt the company? >> he has the big loser, hasn't he? he has been shortselling the campaign for a long time. >> just got the

scarlet: a former girlfriend of sumner redstone will not she washer trial when evicted. her request for a new trial. came back after just one day of trial. that is the bloomberg business flash. economic uncertainty stretching from china to europe, currency swings stripping the confidence of high income shoppers the u.s.. it doesn't bode well for luxury demand. that's as written today in a bloomberg cap fly column here in new york. when they started limiting and looking into corruption, starting just these measures to limit extravagant buying and so , you have focused a lot of the expectations on the u.s. and u.s. economic cover he. what is going on that is hurting luxury sales? >> now we are worried about europe after the right it -- after the brexit. all of that has come together for high spenders in the u.s.. now they are worried and pulling back on the pursestrings. how do we square that with the data that seems to show that the u.s. economy is doing just fine? retail sales have been doing ok. consumer spending seems to have been holding up for the most part. shelly:

we expect to see boths of is sumner redstone saga.ter is on the list for the very first time. she's feed wg a long time attendee, philippe dauman over the future of the media giant. they're likely to keep quite a distance from each other and likely stick close to the cbs cbs ceo. there's also star power here. oprah is on the list again after several years away and on the agenda include a conversation about artificial intelligence and its impact on business in the future as well as commerce. commerce secretary will be attending we pecht plenty of conversation on trade in the wake of the brexit vote. >> thank you very much. who would you chase around, dennis? >> in terms of a deal? as we were discussing earlier today, i think twitter 2016, maybe in 2017. gets old. seems like that's the inevident bability for that. >> do you think the deal making is still likely out u there? didn't start or intend to necessarily be that way. >> it's happened and it will continue to happen as he said. it's all merging into one giant scrum. >> we'll see. t

you've got barry diller, you've got justin trudeau from canada, you've got shari redstone embroiled inhe legal battles for control of her father's company. you've got tim cook from am, i actually had a conversation with him this morning -- apple. when i say conversation, i said good morning, mr. cook, may i interview you, and he said, no, you may not. that was my conversation with tim cook. they are very key on seat gettig into these meetings, and they're hearing from justin trudeau. sheryl sandberg will be speaking later on, and they're talking about, among other thing, brexit. commerce secretary penny pritzker's going to be here as well talking about the u.s. economy and brexit. but we were concerned about media, so we had a chance to talk to barry diller, and one of the questions that he was asked had to do with the transformation of everything going necessarily not from tv to digital, but to streaming and to online web as well as mobile. and the loss of maybe original content. is and here's what he said. >> you've got, essentially, more buyers than you've ever had, but you also hav

the controlling shareholder here of viacom, of course, its board composed of the likes of sherry redstonee following statement saying it's one of the most valuable assets and might result from a paramount transaction would be outweighed by the significant impact on the strategic flexibility to best capitalize on this important asset and point out the complexities of joint ownership and undoubtedly extend far beyond that to divisions of viacom to take on partners. very much a negative reaction here from the controlling shareholder of viacom to this continued plan which was reported on in the front page story in the "wall street journal" to sell at 49% today. judging from the press release and going on to say the decision should not be made by individuals who may be leaving the board shortly, that being the five directors that they're trying to replace. it certainly would appear that any hopes that is done for getting a deal done for the sale of the 49% stake in paramount have been dashed. at least according to national amusements. carl? >> when we come back this week, we'll have more on th

compelling that anybody would agree to it if they were brought the deal, including of course sumner redstonend his daughter sherry. the change in bylaws at viacom requires that the entire board sign off on any deal involving paramount. of course this is one of the many things they are in court trying to deal with in both massachusetts and more importantly in delaware is viacom. but -- and the numbers -- they had come out and said 10 bucks a share is what he thinks. you can back into a 9 billion number mare more on the paramount studio which has been a poor performer to say the least. but does have some decent licensing revenues that come in every year rain or shine and hopes to have a better slate every year as it comes along but it's sort of focused on trying to minimize the risk but they haven't been maximizing the reward at all. we will see what happens because we have no idea whether sumner and sherry have any interest in approving a deal regardless of whether wanda is interested in pursuing that 49% stake. >> would that make it less likely that a less invested cbs would be interested? >

a judge ruling that sumner redstone's former companion will not be granted a new trial over her lawsuitt challenged the 93-year-old's mental competence. this happened after a hearing this morning on her petition claiming new evidence in the matter. >>> former indiana democratic senator evan bayh has decided to run for the open senate seat vacated by retiring senator dan coates, giving democrats a victory increasing odds to win back the senate. bayh resigned in 2010. >>> walmart starting today will offer free shipping on all online orders with no minimum purchase for five days. amazon's prime day is tomorrow. >>> george spieth withdrawing from the rio olympics, leaving golf without its four top players when the sport returns to the games for the first time since 1904. spieth citing health reasons, jason day, dustin johnson and roy mcilroy previously review citing the zika virus. that's the cnbc news update at this hour. back to you, tyler. >>> thank you very much, sharon. the s&p hitting new all-time highs just an hour or so ago. the dow and the nasdaq, the dow very close to an all-time

. >>> a delaware judge ruling that redstones lawyers must defend the move to oust directors of the board in a trial. he proposed october 17th for the beginning of the hearing. >>> indiana has a new mega millions jackpot winner. the winners of the $536 million prize bought the ticket while they were out on a saturday afternoon headed to kids sporting events. family wants to remain anonymous and they have hired a spokesperson to accept the ticket and speak on their behalf. they took the lump sum. first time. >> first time ever. >> yep. >> played the mega millions. >> they bought five tickets. first time ever and they don't have to do it again. >> nope. that's it. >> pretty ironic. >> beginner's luck. >> to say the least. >> yep. thank you, sue. >> sure. >> you know what? i wish all the lotteries would allow people to remain anonymous. >> i think it should require them to. >> remain anonymous? >> yeah. >> opening yourself up to nonsense by having to go public with that kind of stuff. i don't know. but we digress. >>> 30 minutes left in the trading session with the dow down 35. closing out t

of course shari redstone is here as is les moonves and no sign of fell leap du monde yet. >> thank youery much. when we come back how to play asia in the wake of the brexit vote. we will talk to goldman's chief asia equity strategist tim mo and later this morning fbi director comey on capitol hill preparing to defend his recommendation not to charge hillary clinton. he will face questions from the house oversight committee and we will take coverage of that later on. this woman owns this house, with new cabinets from this shop, with handles designed here, made here, shipped from here, on this plane flown by this pilot, who owns stock in this company, that builds big things and provides benefits to this woman, with new cabinets. they all have insurance crafted personally for them. not just coverage, craftsmanship. not just insured. chubb insured. >>> the uk's decision to exit the eu has sparked all sorts of contagion fears reaching asia. wide speglation the bank of japan will continue to ease and the continued yuan weakness in china is a concern for investors. how to invest in asia timot

more major hits and moonves would not comment on the drama surrounding the controlling shareholder redstonesible recombination with via come, saying cbs is complete as it is. >> can you stick with us for a little bit? >> sure. >> we'll continue this conversation right here and we'll talk media buzz and a lot more. brett harris is research analyst, are you happy with those earnings? >> absolutely. the earnings were great, a big part of it as julia mentioned was from the "star trek" as i understand indication deal. and the over the top products was a very good surprise. >> as an owner of this company, how much of the bet is on cbs proper versus what could happen or not happen with cbs and potentially viacom, the conversation that didn't happen on that call. >> there is speculation and potential for some sort of catalyst beyond earnings growth. that being said we own the stock because we think it's the best positioned media company for the existing ecosystem. >> you talk to investors in both of these companies, a lot of people don't want them to get together but sort of expect ult natal matly

there's also some, you might want to call it a scuttlebutt, chary redstone is here for the first timerol of his father's company with the ceo of viacom. you might want to be a fly on the wall should they run into each other over cocktails. and huge names, barry diller, diane van furstenburg is expected, and oprah winfrey, and every is wondering about yahoo! and that's perhaps not one of the things, perhaps post-sun valley. this is where the titans of tech and media meet and we're here to get them. we'll talk about it through the day. maria: we'll be watching. we know a lot of deals have been struck at that conference. dagen. >> that's absolutely. dagen: a lot of talk. i don't know, i think that if anything gets done, it will be hugely positive and optimistic in terms of deal making because of the uncertainty. global market uncertainty, moving ahead toward the presidential election. it would take somebody with a lot of guts to ink a deal at this point. >> i beg to differ. you look at the companies and the representatives there. they are the deal makers and they have the most cash on th

. >> the whole sumner redstone going on. >> i don't know why we're wasting time having business meetingst you in the strategy meeting. >> to the strategy team. our strategy teams don't have jobs anymore. >> congratulations to both of you, marni, thank you for joining us. tim, thank you. >> about to have the same discussion, do you own the pipes or do you own the stuff that goes down the pipes or both? >> coming up we'll talk politics if we haven't already. democratic national convention ready to kick off in philadelphia. thousands already protesting. most of bernie sanders supporters. plus dnc chair debbie wasserman schultz is stepping down at the end of the convention over party e-mails favoring clinton over sanders. we have a lot more on that story from philly after the break. back in a moment. i'm anne. i'm a scientist. why don't you let me... and me... help you out? ♪ you're gonna hear what i say... ♪ i love taking stuff apart and building new things out of it. anne: pal's my most advanced annedroid. [gasps] this is awesome. ♪ oh anne: you haven't seen anything yet. announcer: give y