redstones hopes the investigation of these allegations is thorough, open and transparent.the claims turn out to have merit they expect moonves to be forced to step down. also warning that viacom shareholders would not rate the successful premium right now we're awaiting that article from new yorker. >> the latest tweet from ronan farrow didn't suggest tomorrow, tonight? >> well, i heard earlier today that it was supposed to have already hit this morning and then i heard it was coming at 3:00 p.m. eastern, so who knows. >> julia, thank you very much. no doubt we'll stay in touch with julia the next couple of hours if it does come and hit the wires. guys, big move in the share price. how crucial is leslie moonez to cbs? >> is it too premature off a story like this to make any moves? >> i'm glad you asked that question because i always tell investors if you're trying to guess the news on stories like this you might do really well, but you could get burned really quickly as well. this thing could play out any number of ways that's why you're seeing an extremely volatile stock

four months after sputnik a converted redstone rocket was launched. one drone was triumphant. all of huntsville turned out to underfund brown and his two daughters. well the reaction of actual. why. people come out of the house hollered and yelled. i think there was generally speaking there were some relief that well we want to for. the native german family from brown became a national hero as a rocket man in the u.s. . the media celebrated his success for brown was everywhere. the position of his soviet counterpart was the opposite the actual winner of the initial race into space sergey carli off wasn't allowed to enjoy any public education he wasn't permitted to make p.r. appearances give interviews or be photographed for magazines nothing he could only write articles under a pseudonym. the grand old man of the soviet space program was relegated to the back row at public events. his name remained a well kept secret until the bitter end. at international events people were introduced in his stead who had nothing to do with his spaceflights. but there was that it was rather di

general feeling was that the redstone as a weapon for the army was for. this. the u.s. army was out of the race but front runner remained focused on the satellite project just in case the navy's model turned out to be a flop. apparently it didn't occur to anyone that the soviets could beat them even though the russians were making no secret of their intensive work with missiles. but nothing about the secret activities at baikonur made it into the news. i mean it goes good i would go to war go to war you have to say that the u.s. secret services did a poor job. we have so many technological breakthroughs starting with the atomic bombing i mean the americans didn't know anything about it they were convinced that our economy had broken down completely. they still come up with nonsense like that . and they still don't understand who they are dealing with any more would buy new ice cream when you made your. new enormous rocket launch pad baikonur was finally finished after two years of feverish development and construction work. and the rocket had progressed to the point tha

redstone issued a statement refuting the claim she was behind the report.nves over the year have tweeted their support. we'll see if more come forward in support or if we see more allegations emerge we are sure to hear more after the board call today and then cbs earnings are coming up on thursday afternoon andrew >> okay. julia boorstin, thank you. joining us right now to continue this conversation, cnbc contributor and our own david faber. david, i'll start with you any intel you have act this meeting coming up? >> a bit i think the board, andrew, is taking this very seriously i think they're being advised to put the interests of the company ahead of any interest they may have in mr. moonves' future. you'd expect them to get that advice, of course. do what's right for the company. protect it, protect yourself potentially. but that's not -- that's pretty serious advice one would expect if they do follow it, they have a hard time seeing in some ways how mr. moonves at the very least is not going to be pushed aside pending investigation if not just going to

redstone wants to re-merge cbs and viacom. moonves does not.ay, a high-ranking cbs executive who did not want to be identified told us "the new yorker" story is part of that battle, calling it "corporate hardball." ms. redstone's spokesperson put out a statement denying the allegations have anything to do with the battle in the board room. it said, "the malicious insinuation that ms. redstone is somehow behind the allegations is false and self-serving." moonves is quoted in the article as saying, "i recognize that there were times, decades ago, when i may have made some women uncomfortable by making advances. those were mistakes, and i regret them immensely. but i always understood and respected-- and abided by the principle-- that 'no' means no, and i have never misused my position to harm or hinder anyone's career." in a statement tonight, cbs corporation said its independent investigation of alleged misconduct at cbs news is ongoing and includes the allegations in "the new yorker" story. and jeff, that cbs investigation was launched last fal

-- sherry redstone wants to put them together unless moonves resists it.opens up strategic possibilities for cbs. it comes as a particularly interesting time for members of the board of directors but i think pretty quickly a competent law firm can investigate the allegations and figure out what they're going to do. >> walter, i want to dig into that more with you i realize there's a lot of uncertainty and a lot of moving parts around this company now. given the fact that stock has sold off recently, down 12% for the year, do these assets, cbs specifically, begin to look attractive to other companies and if so who might be some of the other companies that would come in and be interested as all of this gets sorted out? >> i think cbs assets are truly valuable, a great company, let me declare small conflict of interest, my book by siem and and shoester owned by cbs. they have good studio, good broadcast, that would do something like you saw with at&t, time warner, now that the way has been opened for people that own the pipeline of distribution to want to con

we've seen a statement from aari redstone demanding transparent investigation.creasingly concerned and this is going to constrain shares that have been trading sideways. david: i really look at the move from a buy to a hold how much a short to medium-term? let's be honest, not even les .oonves is indispensable the entire industry is going through a transition. you look at disney going to 21st century fox assets competing with the likes of amazon and netflix. how important is that longer-term? tuna: there's no question les moonves has had a stellar track record as ceo. a darling of the wall street community. the issue at hand rises above and beyond his expertise as a manager. we have seen what happened in other instances. steve wynn, who is arguably more attached to the brand that les moonves. the sensitivity of this issue is such that the board is going to want to show the appearance of -- just to stave off prospects of extended litigation. they brought up questions that will come into play as the board decides on how to move forward. amobi, thank you very much.

it will be interesting to see how much she asserts herseshar shari redstone laurts have said probably not a great idea it makes more likely, jim, this deal will once again see the light of day why we saw the moves we did on friday. >> now, david, other articles say they're trying to pick it was like yeah to examine -- >> fox picked paul weiss it was disastrous. >> yeah. you have firms that you just simply can't buy and when they bring in a serious outside counsel, i think that -- >> disastrous you mean disastrous for the companies. >> right wells is back. because they got rid of -- it was the board that was in question and the fed reserve didn't like the board. wells addressed the issues so the stock is going almost back to where it was, but and fox, well, all is well it ends well the fact is, when they brought in paul weiss it was you did the chips may fall and chips may fall is damning. because if you verify that article, okay, and you interview those people, then i think the board is in advanced spot in terms of trying to keep les. i think that the conversations he's the greatest g

he has gone so far as to shoe sharery redstone in his attempt to block that merger from taking place.enter in this story of course are the accusations against moonves which the board has said it is taking very seriously. but if you talk to people in hollywood, the context of that is not lost on them. now, sharery redstone came forward on friday when these allegations first came out and said that she absolutely resists any insinuation that she had anything to do with these accusations. >> dylan biers i know you will continue to follow it for us. thank. >>> just ahead more than a dozen wildfires raging in california. some of them turning deadly. one man lost his wife and two great grandchildren. he skr ibs the hard heart breaking final moments as he raced to try to rescue them. >> he just kept saying grandpa, come and get me. come and get us. fact is, every insurance company hopes you drive safely. but allstate helps you. with drivewise. feedback that helps you drive safer. and that can lower your cost now that you know the truth... are you in good hands? a place with 24-hour valet serv

, three women and one of them is sherry redstone certainly does not - oh, we just got a statement. hold on. >> let's see it. liz: is a statement from cbs regularly scheduled board meeting. the board of directors is still in the process of selecting an outside counsel to conduct an independent investigation, no other action was taken on this matter at today's board meeting. no other action, charlie. the board determined to postpone cbs corporations 2018 annual meeting of stockholders that was previously scheduled - this is big. postponing the shareholder stockholder meeting. it supposed to be august 10 and the board will determine a new date for the meeting of stockholders and will publicly disclose the due date, time and location. the stock, the board approved a quarterly dividend - >> we see . liz: cbs at the moment, a political myself. it's down about 4%. >> and come back a little bit. liz: slightly. it's all over the place. >> it came up because they do not suspend les moonves. he's not suspended pending the investigation. liz: charlie, we have to run. we'll be right back. big b

i want your thoughts on the one woman that matters sherry redstone. does she play it clearly it is an area for my reporting, but curious on your thoughts of the dynamic there of the controlling shareholder in the meeting and of course she's a woman. >> it is very interesting. she has a stake in this. lot of times you would say as a related party transaction, a lot of viacom discussions with cbs, she couldn't be a party to this is a staffing issue some people probably unfairly raise suspicion of timing here >> everything i have come up with indicates that's not -- >> and the choreography is crazy. it is the fourth time from their founding that viacom was created by cbs originally came together, apart, together, apart, and i think that the awkwardness of whether or not the deal makes sense is one thing, but fighting the politics and personalities, sherry redstone is dressed for battle took on philip demon who made more with much poorer performance, much more than les moonves making and more than bob iger made. she took him out with lots of litigation i

he is locked in this epic value with sherry redstone, controlling shareholder with cbs. there's been some insinuation that maybe sherry redstone's camp is partly behind your story. how do you react when you hear that kind of insinuation? >> we address it in the story. these women began coming to me immediately after the weinstein story, iliana douglas called me after the first harvey weinstein story i wrote and told me her story and we've been carefully investigating since. now, look, there are plenty of stories that are completely true and fueled by opposition research at some time. we've vetted and revetted these sources and my honest impression that these stories are not only true but also not fueled by opposition research. these women came in a heartfelt moment where there was an outpouring of these kinds of stories. >> and you say 19 sources describe behavior at cbs news that jeff fager, chairman of the news division and still executive producer of "60 minutes" that he enabled and allowed for harassment to happen and sometimes made unwanted advances himself. he has

that being said, it's the redston redstones' company the oh problem is you have controlling shareholdersy, it's their company. >> thank you great to see you both. >>> coming up, more of my exclusive interview with mai pompeo is the u.s. ready for a bioterror attack they want to see what the trump administration will do about it. next wow! record time. at cognizant, we're helping today's leading life sciences companies go beyond developing prescriptions to offering subscriptions with personalized, real-time advice for life-long, healthy living. honey? you almost done? nope. get ready, because we're helping leading companies see it- and see it through-with digital. two, down and back up. our phones are more than just phones. they are pocket sized personal trainers... last minute gift finders... siri: destination ahead. and discoverers of new places. it's the internet in your hand. that's why xfinity mobile can be included with xfinity internet. which could save you hunreds of dollars a year. plus get $150 when you bring in your own phone. its a new kind of network designed to save you mone

shari redstone owns 80% of the company.f she could exercise that power, they would've already merged with viacom. you have the irony of this really strangely structured company and you are saying to the major shareholder, you don't get to say. alix: it does point to the fact that if shari redstone wants this to go on forever, she can do that. paul: it kind of shows you the influence that les has even though he is not a controlling shareholder. he has the support of the public shareholders and he wields that as well as anybody does but obviously his position is arguably weekend which raises the odds that shari will win in her strategy to put the two companies together. that is a positive for viacom and a possible near-term concern for cbs if they are forced to merge at some point. david: a second outside law firm because they already had an investigation going. alix: insert funny joke about lawyers. david: thanks so much to paul sweeney of bloomberg intelligence. coming up, credit suisse gives investors more reasons to stick

you know before the ronan farrow article came out. >> and why did you plan on going against shari redstonef you knew this stuff was coming down the pike? isn't that ridiculous? you are getting involved in a battle knowing you could be blown up by the article. so if he appears, like i say, i believe it when i see it, but the plan is, right now for him to be on that call and answer questions and they are prepping him for it now. now, just so you know, again, i'm hedging here because this is such high-stakes stuff. i will tell you this, he's starting to go out in public. page 6 ran a story about him going to a restaurant in malibu. by the way, stories get planted like that. liz: at that level. >> you don't know he's just going to show up. he was smiling for the picture. i mean, my guess is they're trying to tell the investment public everything is okay, we're moving forward. he's fighting back. he thinks he could probably survive this, and you know, one other way you do that is to get in front of wall street, which he's generally good at and answer these questions. see thursday, again, ladies

redstone denies being behind any accusations. her representatives said in a statement that she hopes the investigation of these allegations is thorough, open and transparent. cbs previously hired an outside attorney to investigate claim misconduct in the news division. the network says that work is ongoing and includes allegations in the new yorker article. >> thanks, anna. >>> a classified domestic surveillance program operated by the tsa faces criticism for tracking information from american citizens who are not suspected of committing any crime. "the boston globe" first reported the existence of this program. cbs has now confirmed how air marshals document certain passenger's behavior, including whether they fidget, use a computer or have a jump in their adams apple. kris van cleave is in washington with more details on that program. >> reporter: good morning. the tsa is publicly acknowledging this previously unreported domestic surveillance program known as quiet skies. it uses a computer algorithm to spot flyers whose recent

doesn't get resolved right away and maybe it gets resolved sooner and they could be merging with redstoneheir way. in addition, it is possible that doesn't happen that they could ultimately merge with someone else and a number of different catalysts here so valuation, that's always important. that's the most solid fundamental here so let's go to the charts. all right. so there's a few days that are really important here. here's one this was their last earnings call so they had a very, very positive call. they had a beat on revenue and they had an even higher beat on earnings and they had great growth in the entertainment and the cable business and that's very important and the fundamentals of the business are doing very well. here's another thing that's really important as well this was the day where the at&t/time warner deal got approved and paving the way for a lot more media mergers to come and then lastly, this is the important date where we are right now. here's the opportunity from here to here that was created by call it whatever you will the uncertainty surrounding the future of l

comes to the broader fight that the company is involved in right now with the parent, with sheri redstone merging the companies. is there a conflict there? are there going to be questions about governance >> i think they're caught between a rock and a hard place because these are allegations about a very successful publicly traded media company on the one hand you have the obligations to their shareholders and i believe media companies should subject themselves when it comes to these allegations to a higher degree of standard when you compare what's happening here to what about at uber how long ago and how long for the uber board to respond and how much they had to overcompensate eventually for what they didn't do in time you have to remember uber the allegations against them were substantially more troublesome but i do believe that media companies because of the very specific place it has in building trust with the viewers and their tal want and their shareholders and stakeholders and they need to subject themselves to a higher standard. >> thank you for the perspective. former fox inter

couple hundred million dollars of synergies and my own view, and i don't really know what sherri redstone's long-term game plan is, my own view is the likelihood of this combined entity being sold in the next few years is very, very high -- >> so larry -- >> and would make a lot of sense. >> i'm hearing you say that you expect that a combination of viacom and cbs is more likely as a result of what we have been reporting today per ronan farrow and your presumption is that he's going to be gone soon >> i don't -- you know, i don't really know. i'm not looking at any facts i don't have anything other than i'll probably be buying a copy of "the new yorker" when it hits the press. this is going to take a long time but these accusations are serious. the journalism here pending seeing the article is very credible this isn't a sensational tabloid. >> but he's opposed the combination, correct >> i'm sorry >> mr. moonves has opposed the combination of those two companies? >> oh, yes, absolutely absolutely >> so if he's not gone and is still in power, why does it make it more likely that the two would

there is an ugly battle happening with sherry redstone. some say maybe she was involved in this and she can take advantage of this situation. but there is no proof she had anything to do with this. howie: all these women on the record, you would have to say there are questions about les moonves. >> absolutely. they are investigating. more to come on this. sara fischer, thanks for your reporting. coming up. mark zuckerberg loses billions. charlie gasparino i howie: it was the largest charlie gasparino is with us. wasn't this market plunge in part due to facebook admitting it will have to spend more money to protect people's privacy? charlie: don't you feel sorry for mark zuckerberg? the bottom line is all these social media platforms are essentially free. but you do pay in other ways. you pay in the lack of privacy. anything that will cut back -- they use your user information. anything that sort of limits, that helps privacy and limits the amount of user growth that goes on to these platforms, you can sell ads to them as well. the ad metri

the average age of the board is 73 but that's elevated by sum ner's redstone's presence. >> only threeree. >> i got to tell you that's a lot when you look at boards in america. >> three is on average a lot but to your point, also about age, and again, age is not necessarily a predictor of anything. >> no, no. >> either. but in fairness i think there are three people under 65 on the board. so it's a large board, very few people under 65 even so, yes, there are some governance issues that need to be thought through here. >> thanks. >> noel tichy wsh karen, thank you very much. >> tesla earnings on deck tomorrow the stock up more than 2% but still in bear market territory will they fuel a comeback. >> fuel, tesla. >> i get it. >> charge it >> spark a comeback. we'll be right back. >>> welcome back to power lunch. i'm sara eisen and this is trading nation today we watch shares of tesla surging more than 2% ahead of the earnings report out tomorrow after the bell the stock still stuck in a bear market which means down 20% from recent highs let's get straight into the trade on earnings. stac

there is an ugly battle happening with sherry redstone.ome say maybe she was involved in this and she can take advantage of this situation. but there is no proof she had anything to do with this. howie: all these women on the record, you would have to say there are questions about les moonves. >> absolutely. they are investigating. more to come on this. sara fischer, thanks for your reporting. coming up. mark zuckerberg loses billions. charlie gasparino is on deck. hawaii?! nice! yeah i'm excited. finally earned enough rewards points. so jealous. yeah i can't wait to get that shave-ice! what's shave-ice? it's like a hawaiian snow-cone. why not just say snow-cone? i don't know, they call it shave-ice. you fly to hawaii for this? i don't go there for the ice. you saved up your rewards points for ice? ...that's a lot of ice. go rewards® credit card from navy federal credit union... our members are the mission. gacan start in the colon, n, and diarrhea and may be signs of an imbalance of good bacteria. only phillips' colon health has this uniq

murdock always, sure redstone is , it really is a hit and miss in terms of media m&a but you also havefrom the tech world project basis is here. and you'veong list seen this cavalcade of power and influence driving up the road. vonnie: warren buffett calls it an abwa sort of conference. i'm curious as to whether brian roberts and murdock, maybe bob iger might get together at some point. >> or whether they will try to avoid each other. we saw this morning fox come out with this latest salvo, the of their bid for sky significantly. tot is murdock's latest push say to brian roberts i want you guys to leave us alone. so we are seeing a lot of that playing out in real-time while they are here which we should know. normally at sun valley, deals get brought into the world. now we are in a situation where a lot of these moves or any sort of -- mike a resolve their differences? -- mike they resolve their differences -- mighty they resolve their differences? , theyy are both here stopped briefly yesterday and she said she was very happy and she was enjoying being out here. caroline: you mentione

are true that it raises questions, a broader backdrop of the fight between les moonves and share redstoneut the control of cbs. how may this play into the dispute? and succession plan for les moonves? >> no effect on the legal matter of that case. but it would seem to weaken les moonves's position, depending on the allegations. his strength in his dispute over control of the company is that he has been one of the most successful media executives in recent memory and that he has the loyalty of the company, board, shareholders, and any serious allegations against ceo you what you wrote support. -- erode support. david: les moonves contributed mightily to cbs. we will see how this story develops. thank you to lucas shaw from los angeles. we will monitor this story. trump supporters cheered when he delivered on his tax cuts which he said were critical to economic growth. some of the supporters are not as pleased with his tariffs to change u.s. trading relations. we welcome david mcintosh of the club for growth, he served in congress earlier representing indiana. thank you for being with us. g

terry redstone, representative or her issued a strong seminar friday refuting these allegations saying behind the allegations of inappropriate personal behavior by les moonves is false and self-serving. according to the wall street journal a look like a special committee will be convened in bringing an independent law firm to investigate these allegations and the question is what happens to les moonves and cbs but we don't have a viable succession plan. charles: susan, thank you. now this but president trump accused twitter a blocking conservatives - one of those groups says it was shadow band and women for trump during this now, amy kramer. cofounder for women for trump. amy, explain to the audience how you know that you have been you and your organization have been shadow band. what the evidence? >> thank you for having me on, charles. one day last week at the beginning of the week before the story broke we went and did a meet up in north carolina and i'm there with these women that i've never met before they wanted to follow us on twitter so i'm holding their phones trying to find w

sherry redstone, who is on the board as well, and what this could mean, but i think we should wait to did want to note this story b b about the coming story >> new yorker set to be publish that article today certainly having an impact on the stock, which is why we mention it >> i was talking about the weakness in technology got to be the theme here for the week and we're seeing that for the day. in fact, if you look at weekly performance, stocks had a good week and the only sector that's down is technology, but you had strong performance from groups like energy and industrials and financials you had a truce with the eu over trade. and that certainly gave the markets a lift and overall better earnings. but some very high profile misses >> of course facebook being the key one to that 120 billion loss yesterday. facebook is now down slightly. amazon is the only strong performer so far of course today has been feature bid significant decline in shares of twitter after they talked about a potential decline in maus there. monthly average users as well, so kind of a mixeded picture certainly

moonves and redstone and the board of cbs behind him and seemingly behind him for other things whetherwsuits or anything else. they're all in >>well, you know, a lot of people are in until an advertiser said i don't want to be in. >> we'll see what else emerges here it's been a key part of every one of these stories. >> what happens if big advertisers in the nfl say we're not going to put our ads on cbs. what happens i'll tell you what happens he's fired the next day. you said you saw the movie i saw the movie, too it was a good movie. >> let's talk about a good movie. kla 10 quarter which is in the same industry as -- up 12. it's a star of the show. that is very important and positive for micron and for broad com. i would point out broad com has done nothing but go up he should come back and talk about his acquisition. it's being well received >>well, you have a good call on this one. >> thank you. >> right. >> you found it. >> yeah. avgo it was around 200. >> yeah. >> 197. >> yeah. >> wow. >> it's a man and i believe it i also think that the merger between, you know, let's put it thi

redstone wants to remerge cbs and viacom. moonves does not. a high ranking executive who does not want to be identified said "the new yorker" story is part of that battle calling it corporate hardball. misreadstone put out the statement denyinging any of the allegations have to do with the battle in the boardroom. the malicious accusation is false and self serving. moonves is quoted in the article in saying i realize decades ago i may have made some women uncomfortable making advances, those are mistakes and i regret them immensely but i always stood by the principal no means no and i never used my pogsz to harm or hinder anyone's career. >> anna werner, thank you. we also note to add that moonves's wife cbs's julie chen also released a stamtd defending her husband reading in part, quote, leslie is a good man and loving father, devoted husband, and aspiring corporate leader. he has always been a kind, decent, and moral human being. >>> president trump is spending the weekend at his new jersey golf resort after leashing washington yet on a high

he wants to wrest control of cbs from the controlling redstone family, all the controlling shares.s this weaken or help impact his position? that will be asked. charles: a lot of questions about the board, even dealing with this, in terms of crisis management they knew this was coming to a degree. they were caught flat footed. >> james stuart in the "times" wrote amazing column. you would think if they knew this was coming they wouldn't have rolled the dice. charles: already had an investigation, or would have taken the sort of measures that people want, particularly from a publicly-traded company. >> as someone who covered ceos for a long time i remember one ceo telling me, what does your board say about this? he goes, my board is my board. especially someone like moonves has enormous control over board and independent directors. they're not that independent. charles: rubberstamp boards are problem for investors for decades. this continues. >> this might be a key example of that. we'll see. by the way we'll keep reporting this out. this is a big story going forward. charles: great

holders was set for september 10th that meeting was expected to focus on a court battle between shari redstoneher push to combine cbs with viacom. now as the board hires a firm and starts its investigation, the next event for cbs is its earnings report thursday afternoon. moonves typically leads the earnings call discussing the trajectory and future. we'll see what he says then. julia boorstin, cnbc business news, los angeles. >>> back to the earnings in europe, solvay shares are higher as strong growth in volume countered headwinds. >>> and sanofi shares are flat after clawing back early losses. the french drugmaker posted slightly higher than expected profits for the second quarter sales in the firm's genzyme division were up 30 cents. sanofi confirmed they're poised for stronger growth in the second half. >>> tesla is reportedly in talks with german and dutch officials to build its first major european factory according to the "wall street journal," the carmaker has held initial talks with two german states battling it out to hostess la's hostess -- host tesla's giga factory. >>> no deal br

company is in this crazy fight with its controlling shareholder, national amusements, which is the redstonesy control viacom, too. they want to merge the two companies. moonves doesn't want to. they're suing each other. all kinds of drama. this is new drama. >> shepard: not a good day at black ron. thanks, ken. >> thank you. >> shepard: hundreds of immigrant children are still separated from their parents right this minute. yesterday was the deadline for families to be together again. a federal judge ordered the administration to reunite about 2,500 children with their parents after they were forced to separate. the president's zero tolerance policy on illegal immigration. the policy caused chaos, confuse and anger across america. the president last month signed an executive order to stop the separations. the feds say more than 1,800 of the 2,500 children are back with their parents or sponsors. that leaves more than 700 kids without their mothers or fathers and still in the custody of the united states government. included in that number, more than 400 children whose parents the government

i think les is history joey will probably step in and take over the company and sherry redstone is veryely to have her wish and be able to combine viacom and cbs and then sell the combined companies >> julia, there is certainly a lot to talk about here not the least of which is the corporate culture at cbs if mr. moonves stays or if he goes, isn't there also a bigger issue when it comes to cbs from the top down at many, many levels >> yes i mean, of course, this is not the first time we've heard about issues such as this one at cbs remember, charlie rose was pushed out after allegations of many women of sexual harassment, and so that was a question, of course, at cbs news. now, i think it's worth noting this is article, though a lot of it is about les moonves, and a lot of it is about the broader culture at cbs, and that raises questions about whoer might be his replacement. whether it's joe, if he is chief operating officer, is he airaway of a corporate culture that is unhealthy? i think this is going to be something that is really going to be a big deal for the company that is the boa

and i am the president of the redstone labor temple association. we are the tenants of their building at 16th and cap. a lot of arts organizations and nonprofits are in that building. i am also an s.i.u. member. and, you know, neither of these organizations have explicitly stated that they want, you know, the board to vote in favor of this appeal but i can say, in general, both organizations support the plaza 16 coalition and they understand the concept that there is overbuilding of market rate and luxury housing in the mission. so, you know, someone else mentioned that there's been a blue wave in the city. it is more like a green wave. it has been in this hard for quite some time with, you know, the money. and just the idea, you know, that there is enough market rate and luxury housing in the city, and when they build these projects, you know, you can picture how many times a day people will be calling the cops. whether it is 16th and mission or 25th and mission. they will be calling the cops all day long because that is the way it goes. i live in

ran into les moonves by the way and he says he loves our coverage but when i asked him about shari redstonee ran so fast in the opposite direction. my producer, listen she ran into brian roberts. he couldn't runaway from her fast enough when she started asking about fox and disney and everything, so you know, there you go, but we try. but you know it's never the ceo 's that give it to you. you've got to pound the pavement and do reporting. liz: that's what you do. charlie thank you. thank you for breaking it all. we do appreciate it. charlie gasparino. charlie: talk to you soon. liz: the human stink bomb. charlie: oh, thank you. liz: good to see you. dow is up 209 points we are 10 make that eight points away, nine points away from erasing all of yesterday's losses. we'll be right back. problem & the staff needs to know, they will & they'll drop everything can you take a look at her vitals? & share the data with other specialists yeah, i'm looking at them now. & they'll drop everything hey. & take care of this baby yeah, that procedure seems right. & that one too. at&t provides edge to edge

there is on going battle between shari redstone, moonves. they are taking this one seriously as a company, investigating it closely. that being said, last but not least, how did we do for the week? nasdaq finished to the downside with the tech pressure. s&p, dow, finished higher. adam: nicole, thank you. cheryl: president trump celebrating a big bump in the gdp this morning. the economy growing 4.1% in the second quarter. the strongest pace in nearly four years. go to blake burman at the white house with what the president is saying about all of this? i'm sure it is pretty good stuff, blake. >> cheryl, the president and his team stem greating this one thinking it is vindication for the economic plan. days and weeks when they undertook regulatory efforts, what con souped the white house last year which is tax reform, what is consuming this president right now being trade battles. exports surged in last quarter adding 1% to gdp, half a percent above normal and the president said earlier today in the white house on the front of the north lawn,

sherry redsten has arrived and we haven't yet seen les moonves and he is expected here and he and redstoneocked in a legal battle over those two companies' future. we spoke to aol founder steve case he told us he expects many more deals, but this time the buyers could be the tech giants such as apple and amazon >> we announced the aol time warner merger 20 years ago, 19 years ago and some of the things we talked about then are now happening in terms of stream beiin and i'm not surprised where they'll position themselves where consumers will have more choice and more control. >> another company that could be a stellar discovery, discovery ceo is here. he talk about the the advantages of merging to a crowd of reporters here >> just opens up a real opportunity for more consolidation. disney's approval in record time on the fox deal and it still has a ways to go i think justice has signaled that if you want to apply something that you want to be acquired and it is an open opportunity. >> with all of that eagerness to merge, it's interesting that steve case pointed out that there are also risks

. >> -- shari redstone and viacom. >> i suspect if les is gone, which is likely, shari -- liz: wait,sh back? cbs has to launch an investigation. >> they already announced that's underway. liz riz so i don't know that les is gone. i just want to make sure because i, you know, les moonves has been incredible to me -- >> i have to say he's a friend of mine, and i'm really disappointed and really saddened by this whole event -- liz: well, he was at the helm when charlie rose was removed. >> he fired charlie rose in two seconds, and les has always been, in my estimation, a champion of women's rights. liz: well, the stock is down, but we'll be watching that and more. just quickly back to fox, comcast, disney, all of them have seen pretty significant moves here. >> you're seeing the landscape of legacy media in a tectonic change. and old media, old television -- one of the suggestions that some of the analysts have made is maybe comcast should buy charter. actually, they should buy charter -- liz: well, there was news on charter today. it's not the cable side that comcast is interested in,

he is on the call with redstone.d to see you. >> hi, mel is this roughly 9% decline in the after-hours session is that warranted the myth >> i think it definitely warranted the myth it is critical this is a social platform and we talk about the expense piece, but engagement is paramount. whenever you see a company start to change their metrics and come out with a metric like they did tonight. to me that's an indication they have outstanding management, but as they're trying to change the conversation and they know full well that they're running into some large numbers and also, gdpr in terms of the impact and engagement i think that is a critical question to how this plays out and i understand that concern and keep in mind, they just rolled out europe as they roll out to other countries will weigh on the optimism in the next couple of months. >> why do you think wall street and investors missed the impact of gdpr on europe? >> they told us it was going to happen last quarter. they couldn't have been more clear and th

. >> is this sherry redstone? >> yes sh, and she controls 60% the shares of cbs. >> and now, these women are saying that he forcibly harassed them or forcibly kissed them and physically intimidated them or threatened to derail the careers can and it became cold or hostile after they were, and after he rejected or they rejected his advances. excuse me. so right now, the -- correct me if i am wrong -- the cbs board is deciding whether or not to keep moonves on or to let him go. >> correct. so yesterday, they had a meeting, and a couple of hours' long and after the meeting was over they decided to hire an outside counsel to the look into the accusations, but many were surprised that they did not suspend him immediately, which is typical practices here in which a company is investigating a top executive at the company. they did not say they would not suspend him at all. >> and it is interesting, because when we have seen allegations coming out with other powerful men -- >> and john lassie ter for example. >> and the c

larry: i think you have to look cbs.e viacom and i am more on cherry red stones side -- redstone's sidempanies together, there are still subscale relative to what is going on if you assume the telephone company will eventually get control of time warner. that they will prevail in court. i would expect the combined viacom, cbs to go to one of the tech companies that i think are a pretty good multiple. the ones that are left independent i think will be one way or another doing a disappearing act. thing from ang shareholder point of view here, and this is good for all of the media companies, there is nobody here trying to steal assets. when a company gets a lot of credit with their conference where they bring all of these people together, everybody who is a media investor has a pretty good idea of what the things are worth -- these things are worth. it could be a greater than zero sum game. i think there is a situation that illustrates it where everybody wins. i think even the consumer will win. the idea this will raise prices is not the situation. everybody wants to make this content avai

redstone has given up on the combination.d the combination, so why are they still fighting about it? why is this going to take up millions and millions in legal fee, more recrimination as this works its way through the court. it's scheduled for court in october. >> wasn't the reporting from david vapor and others that it was a bit of a surprise thatth doj decided to appeal the at&t time-warner and letting them merge, and perhaps gave them pause when it comes to going for another business on disney would that matter in other deals? i think it would later less here the current tradition has stood sort of traditional antitrust reasoning on its head. the viacom assets in particular, i don't think anyone who feels that comcast already owns nbc is going to own cbs but the viacom assets, there's much less concentration in the hollywood movie studios, they had no trouble with guedisney ad the 21st century fox assets. comcast unlike disney has the big distribution piece, which gives it a vertical dimension. they have targeted that, th

in sun valley and what's next for cbs and qualcomm we could see some interactions between sheri redstoned cnbc ceo less munez so who are the deep pocket buyers here who could do the next wave of megamergers it's worth noting the soft bank is on it list with $100 billion vision fund. apple's tim cook or amazon's jeff baizos, they could be ready to snap up one of the media or content producers. and they're reportedly looking at buying groupon. in addition to groupon viacom could be one, and liberty global could be a buyer or a seller and it's worth noting all the sports folks who are here, all the various commissioners of leagues and some team owners as well >> what an exciting backdrop there. the ceos of the media industry julia boorstin keep us posted. thank you. joining us to discuss, nice to see you both so robert, comcast i guess is where we should start. what do they do next our parent company, we should also note. >> well, they have a challenge, which is surprise that disney was able to put this together so quickly. i got kaulds frcalls from invesd others asking about questions abou

i have to mention that sherry redstone is here.battle with the ceo of cbs. there has been talk that either of the companies would be acquisition targets. we haven't seen the two of them speaking yet. surprise, surprise. >> incredible time to be there given all of the news flow in the space you covered. great stuff. >> thank you. >>> indymac wasn't the first bank to fail in the financial crisis. when it did it was the biggest. a look at what happened and whether it could happen again coming up. >>> twitter continues to clean up its fraudulent accounts. those details are next in today's take away. and at expedia, we don't think you should be rushed into booking one. that's why we created expedia's add-on advantage. now after booking your flight, you unlock discounts on select hotels right until the day you leave. ♪ add-on advantage. discounted hotel rates when you add on to your trip. only when you book with expedia. >>> time now for the take away. if you are not real you are out. twitter cracking down on fake accounts and bots. mill

executives are being accused of .estroying evidence redstone's -- says in a court in the cbs executiveallegations come one day after they agree to keep the ceo in his current role for now. sexual harassment allegations up against him. that is your business flash update. coming up, big tech investors are hanging hopes on apple. the company puts quarter earnings after the bell today and so far, bank stocks have recovered a bit here and we will see if that can continue after the apple report. the next -- do not miss special coverage tomorrow. rosenberg, allf of that coming up tomorrow at 2:00 p.m. eastern time. from new york, this is bloomberg. ♪ two, down and back up. our phones are more than just phones. they are pocket sized personal trainers... last minute gift finders... siri: destination ahead. and discoverers of new places. it's the internet in your hand. that's why xfinity mobile can be included with xfinity internet. which could save you hunreds of dollars a year. plus get $150 when you bring in your own phone. its a new kind of network designed to save you money. click, call or

what les moonves wants to do break away from viacom and shari redstone, sell it to another player.onnell: what is more likely to happen moonves is forced out or removed or suspended how does that affect that, or we don't know? >> if moonves is forced out or suspended i don't see how you stop the controlling shareholder from exercising her duly constituted rights, you know what i'm saying? whether it is good or bad for shareholders of cbs. the fact of the matter it is two dual classes of stock where you can own a minority of stock and still control the company which is what they have there. what i think is what happened, what we have here at 21st century fox. i'm not sure it will be that after the disney deal but it is not uncommon. connell: a and b shares. >> right. you basically give her a lot more power. connell: you don't have as big or powerful voice on the other side. >> les moonves is loved by wall street. when i say loved, he basically ran a very good financially good ship. connell: yeah. >> he brought cbs back in terms of ratings. he was, so he was liked essentially as a ma

targets, cbs and viacom as well as the controlling shareholder of both of those companies, shari redstone on quarterback today, escalating bids for these companies point to the value of content and media companies. also the scarcity of media company assets back over to you >> there is so much talk about the tech companies being the next acquirers do they have representatives in sun valley as well >> i'm sorry say that again >> do companies like google and apple rumored to be acquired of content. are they present >> yeah. so we haven't seen tim cook or jeff bezos yet we expect them both to be here they're both on the list there has been a lot of talk those tech giants would be the next big buyers of content it might make sense for a company like amazon to make an acquisition of cbs or viacom to bulk up their contents one thing that's interesting to no note, there could be backlash there. he pointed out the concern that there are these potential culture crashes. which is whae he saw with the merger 20 years ago. he sort of brought us that history lesson we do think there will be interest fr

. >> i think at the end of the day you have to go back to what sumner redstone said many mins again.is king. content is king. the guy who produces the content the best content is going to be the winner. and then the question is as an investor how much do you pay for producing that conflict. you are paid an ungodly multiple for netflix over 100 times earnings. why would you do that when you can get people who own and content if you go to warner, bugs bunny et cetera to say nothing of the star wars business that is now in the disney stable. it's very much in favor of one side of the equbáion. and as a disney fox browser. browser. it begins with netflix. great to get your insights on all of this. we will take a short break. as we mentioned it's not only a big morning for earnings but the first reading of the second quarter gdp number is out today. stay with us, we have the numbers as soon as we hit the tape. coming up next. next. breaking overnight. the remains of the u.s. veteran finally handed over from north korea.d wa well have the latest coming up.rica and our nation's veterans. we