then apollo made an offer just for the film studio, which was something the redstones did not want to up the company. i have been told they did not feel there was enough -- it was a solid offer when apollo made an offer for the whole company for $26 billion, including debt. they have been this -- in this exclusive period with david ellison. adding the sony element creates a more credible alternative and investors are not happy with the terms they are hearing from the ellison offer. sonali: how much does it really give apollo credibility in terms of financing versus operational expertise? if the redstone family has 77% of the voting power here, how much do they need to sway the vote here? how can they even when frankly? -- win frankly? chris: we had a story that looks at this process. securities law has been moving more in this direction. even if you're a nonvoting shareholder, which paramount has a lot of, they say those folks should get a voice in a big transaction like is being talked about. there is nothing in paramount's bylaws or the law exclusively say they redstones can't just

liz: he want his gamco shareholders get same as shari redstone. >> he doesn't want the deal.elf. he will fight for every penny and that's what he is doing here. he knows that, you know, for a common shareholder there's not, i don't think there's a lot of you know alternatives here, you know. okay, does byron allen have the money? we don't know. he says he does, just so you know. i'm not saying he doesn't but a lot of questions about that. is this, there is a case to be made here that the redbird, skydance, redbird, i guess kkr conglomerate, consortium, better word, will be, you know, will be common shareholders when it's over. be with him and they will be all working together to make this thing happen if it can with a new generation of leader, meaning david ellison and a different business model and more capitalization. that's, they will make that case at some point to investors. here's the thing i will say as all the smoke clears on this thing, people will start saying les moonves was right. liz: former head of cbs. >> if you remember, i've been covering this for so long, th

the contours of the deal involve david ellison sky dance cashing out sherry redstone who is the chairmanramount. it is her company. a true billion-dollar deal in merging sky dance with paramount in a stock deal. sonali: i'm wonder if there are more public it in factors should you have reported there's already been some pushback. michelle: what is complicated about the situation is paramount has a dual class structure. class a voting shares and national amusements hold 80% of that. they have the bulk of the control but only 10% of the outstanding shares. the rest of the shareholders don't have any voting control. someone has come out from matrix saying with a letter to the paramount board saying this deal is not fair. they went paramount and the board to consider other offers that are out there. apollo last week made an offer for all of paramount. it was a $26 billion cash offer. this came after paramount's debt was downgraded to junk and apollo's view is because of this downgrade they can leave paramount's capital structure in place, not have to raise any new financing and put up equity.

david ellison has offered concessions, as well as the redstone question, to make possible control ofaramount global more appealing. the sky dance bid was described as a best and final offer on sunday. the paramount board is still undecided about entering the deal with ellison given the opposition from other investors. caroline: there's a lot to consider and chris has been reporting on it all weekend. we understand the board is wondering if they asked the current ceo of paramount, ahead of earnings coming out after the bell today, amid the sales process. chris: the situation was described as being very fluid, which is i think an understatement. we are reasonably certain the company will announce earnings this afternoon, but beyond that, yes, they are expected to say goodbye to their ceo, bob bakish , replacing him with a management committee on an interim basis. sky dance, that would be a change of control for the company and that was their best and final offer yesterday david ellison, the owner of sky dance, offering his contribution in terms of buying paramount stock at a premium fo

he has butted heads with redstone on a lot of issues.n the past before the m&a came up, they had a lot of disagreements over the future of showtime and paramount plus. after the sky dance deal, the negotiations, he has resisted the deal. there's been a lot of backlash from him leading to a tense relationship between him and sherry redstone. he's a big hurdle in getting the deal done. katie: you and i were talking before the break, just quickly, here, paramount reports after the bell, but at this point it feels like an afterthought. >> yeah, no one is really paying attention to that. that said, though, they will have pretty decent earnings today and a lot of that is advertising. their tv advertising that has been under pressure across the industry will do well for them this quarter because of the super bowl. that will give them an almost 15% jump tv advertising revenue. but as you just pointed out, it's about everything other than earnings at this point. [laughter] katie: it will still be fun to follow, those paramount earnings, after the

will they walk away empty-handed to watch shari redstone make $3 billion? mr.ydance, merging it into paramount, would be like a five billion dollar valuation from zero? that's not going to happen. so what is likely to happen here, if this thing happens, and again it's an if, something will have to be done for the common shareholders because they will sue. mario gabelli, i'm not saying he is, i don't know, but he will probably sue. the best thing to say is this it where it was last week with a little tiny nuance maybe paramount is not interested now or maybe can't be interested now. there could always be a white knight here but it is a very complicated deal, liz. i don't know where to begin. how do you compensate the common shareholders on this? >> considering the high of the year for pay a mount was 24 bucks -- paramount. thank you, i have i have to get to the "countdown closer"? >> one thing, don't buy this on the rumor. be careful here f you're playing around in the stock. this is important. your count down closer will tell you that. liz: miramar capital is t

sherry redstone wants to do this skydance deal.ets her way, it won't matter because bob bakish is going to be out as ceo and david ellison is going to be in if the skydance deal is done. >> skydance also is backed by kkr and red bird is red bird the one that has the relationship with jeff zucker? >> and jeff shell, the former nbc ceo, would be the president of the new company, if, in fact, that deal gets agreed to >> let's move on to kenny smith, who yesterday on our air talked a good bit about the warner brothers discovery future. he chose it as his stock, saying that if wbd gets the nba rights, which are subject to negotiation right now, that's going to power warner brothers discovery. let's listen to kenny. >> i'm going with the warner brother discovery for this reason once they get the nba contract again, their stock is going to rise and they also -- think about it. they're going to -- they have the best show on television, "inside the nba. they need -- their stock will go up you cannot negate the fact that once they get the nb

i skydance taking over the redstone family shares. we are down 4.5% after arrival yesterday. this bloomberg technology. ♪ at cdw, we get if your network power goes down, your business goes with it. recording: thanks for calling, we are unexpectedly closed today due to... cdw experts can keep you up and running with an apc smart-ups lithium-ion ups from schneider electric. it offers cloud-enabled remote monitoring and three times the battery life, so you can get the performance and certainty you need to stay open for business. for resiliency at the edge, trust schneider electric and it orchestration by cdw®. people who get it. you know what's brilliant? boring. think about it. boring is the unsung catalyst for bold. what straps bold to a rocket and hurtles it into space? boring does. boring makes vacations happen, early retirements possible, and startups start up. because it's smart, dependable, and steady. all words you want from your bank. for nearly 160 years, pnc bank has been brilliantly boring so you can be happily fulfilled... which is pretty un-boring if you think abou

in shari redstone's defense you knew going in.moonves wanted to extract cbs and sell it. he looks very smatter, put aside whatever you think of les moonves, his theory taking value of cb. is, back when it was in 2018 and 2019. selling it you would have gotten most bang for the buck in terms of assets then. you're not getting that now. the assets are deeply, deeply in trouble like cord-cutting. it is forcing huge recalculation of what these are worth. les, you have to give him credit, he had it right. that is what they should have done. it was the most valuable part of her empire and she could have gotten the most value for it then and she couldn't do it. now she is stuck trying to recoup, listen a lot of money she will get, 2.5 billion, 2 1/2 times what it is worth essentially, we heard 800 million-dollar stake, but, you would think that you know, when you talk about billionaires, we're talking sumner was up there in the 50s from what i remember. a lot of wealth has evaporated on this company. liz: a lot. can't imagine some people

what do you think is going on, you know, behind the scenes, and in particular, with sherry redstone? >> look, there's no doubt that they've made it pretty clear the redstone family made it clear they want out. they want to monetize their stake, i think they see the challenges facing the media universe, and they're certainly looking for the best option. it's surprising that if this apollo bid was real, it's surprising they didn't take it. i'm literal little -- i can't really give you a good answer of why you would say no, unless it isn't as, you know, again, it wasn't -- we don't have the what were they paying per share, all we have is this sort of $26 billion enterprise that was in "the wall street journal" earlier today. maybe there's more to this than meets the eye. i don't know. obviously, there's regulatory approval. you would need, because apollo, obviously, already owns tv stations. not that i think it's a huge problem, but you would need fcc approval for that transaction. i don't think the skydance merger would have any issues whatsoever from a regulatory standpoint. >> hey, r

sherry redstone, this seems to be the deal she is looking for from sky dance.re you currently dealing with the reports around a so-called sweetened deal? what would you make of those reports from paramount sky dance? -- paramount and skydance? john: we don't know enough. we've had some good information confirmed, but if this transaction really is focused on skydance, we think that may possibly have a chance to work, but much rather see apollo deal with sony that has been so alluring out there, to get certainty of the apollo world-class firm with extraordinary resources. sony has proved to be so successful in this industry. it seems like a marriage made in heaven. we would not rush to the altar with a smaller company that is not as proven as apollo and sony. ed: john, good morning. it's ed in san francisco. you have help this idea that we should look at other authors -- offers on the table for a while. do you hold that belief, that other all -- other offers will be looked at? john: that is what we hear. management has been nothing but straightforward with us reg

ultimately, the powers held by sherry redstone. she calls the shots. that demonstrated quite clearly in the last few hours. thank you so much. the biggest thing potentially happening in media and the last week or so is the most obvious thing that should have taken place a long time ago which is the super bowl taking place on presidents' day weekend. roger goodell proposing for years and why isn't it held on presidents' day weekend? lisa: some people will have to wake up early the next day cannot watch the whole thing jonathan:. it's not just about me or you. it's like an all day breakfast at mcdonald's. it's obvious. the brit had to come to america to run mcdonald's and that makes sense. annmarie: all day breakfast in the united kingdom? jonathan: this is like the all day breakfast decision of the nfl. it's so obvious, get it done. lisa: is the goal to get more viewership? i think they did pretty well. jonathan: you would get even more this way. you can wake up in monday and do what you want. lisa: that's your ultimate goal because you are a party anim

one, this is just clearing an internal impediment to the sky dance merger, which shari redstone, theit doesn't happen, there is a separate potential offer on the table from apollo, which backish tended to favor, because that benefited paramount global shareholders in general, not primarily shari redstone. so there's one scenario where this is all just a placeholder until the merger or a deal can take place. the second is none of these deals work out. and they've got to figure figurs company. now they have an office of the ceo with two television leaders and one film leader who get along very well and they believe they can work together and they say they're going to put together a plan to run this company. >> we were talking about that earlier. rich pointed out with the three of us onset together, and we were talking about how insane it would be to have all three of us -- >> do anything together. >> call the shots. >> it's one thing for these guys to have a text message chain and they communicate. it's quite another thing to direct the strategy, even in its diminished state is a signi

the answer is sherry redstone.or reasons of her own, she wants to do a deal with skydance the reasons may be legitimate to her. she wants to keep the name intact to honor her father she wants to get out of her a shares she has her own debt to deal with if she goes down the road of taking a substandard deal compared to the apollo offer which, by the way, needs to be confirmed, but if she does that, tremendous legal liability i don't think she, the officers of the company or the directors of the company, really want to take on that legal liability i really don't think so. but we're going to have to wait and see this is a controlling shareholder. >> she has a couple billion reasons to do the deal. >> she sure does >> jim, i have to ask you a question good to see you on a friday. >> joe, you, too you were too hard of yourself on netflix. >> i think we owe the viewers that when you talk in a particular direction and it doesn't go that way. i know you've been in paramount a long time, and i'm asking this question for the

redstone arsenal is making a name for itself.i've said it before and i'll say it again, we got some great things coming out of huntsville. general collins just a few vco general guillot with northcom reconfirmed to this committee that the next-generation interceptors critical for defending the homeland. last spring your predecessor testified to the benefits of keeping multiple contractors on the ngi program through critical design review. but since late last year we have learned that this is no longer the plan. this really concerns me and many others. looking back to 2019 when the redesign vehicle program was canceled, we had all our eggs in one basket. there wasn't a backup plan. and because we didn't have a backup plan we had to extend the life of our interceptors and start an entirely new program. this cost taxpayers a lot of money. it cost this capability and the cost is of time. when there's a ticking clock over in the indo-pacific and throughout the world. what change? wise ndaa now making an earlier plan down select decisi

they want an owner that is going to love the asset, take care of the asset, in much the way the redstonecare of the parent studio for decades for that is one of the big attractions here, because what this transaction is is not a sale. national amusements is selling their stake to skydance, but it appears the rest of skydance being folded in, so essential it is paramount buying skydance and skydance taking control of him overall, paramount. this is not a sale. it is not seen that national amusements wants to sell the entirety of paramount to private equity and see the company broken up into pieces or sold for parts. that does not seem to be something they want. what a lot of investors forget this is a controlled company. just because public shareholders want something does not mean the company has to proceed down that path. that is the danger of a controlled company when you are investing. if you do not like it, do not invest in controlled companies. caroline: because ultimately you may end up with a slightly diluted deal that leaves you slightly poorer. what is the narrative that now nee

elsewhere, shares in paramount surged more than 15% after reports that redstone is getting closer to stake in the film giant to david ellison's's guidance. redstone has been weighing a sale of the family holding company national amusements to ellison for months. national amusements holds a near 80% voting stake in paramount global, the parent of cbs and mtv. asset manager aviva, part of the insurance group, is tapping australia's pension funds to partner in private deals in the u.k. and europe. as a surging pool of requirement savings lures investors. the firm has been talking to some funds about co-investments in district centers and residential develop is in his push to double its real assets portfolio over the next five years. meanwhile, aviva's ceo says progress towards gender parity in u.k. financial services is too slow. amanda blank is regarded as a champion for diversity and equality in britain. and as one of the few female leaders of a european blue-chip. in an interview with francine lacqua, she highlighted the importance of shared parental leave. >> if you are looking at t

shares down since the news first broke shari redstone was looking to sell her stake. alternative proposals sometime this week. other key thing we're watching now. paramount's negotiations with charter. they hope to secure payment increases for distribution of all channels that deal set to expire tomorrow they can't come to agreement paramount's networks will go dark and this charter deal will impact paramount's value joe? >> 30% down since that -- i think we need to see all the media companies and see prices -- it's just, i don't know why so high an idea what it says, but very difficult macro environment. they're all navigating at this point. >> certainly a different, difficult macro environment, but the question here is where would paramount's assets perform best? the argument for the skydance deal is that skydance controls 50% of some of paramount's most valuable franchises such as "top gun pea "a huge success and question if you were to combine those assets, skydance has an animation studio that's been very successful. would that create more value there? also a que

there does seem to be a real affinity in terms of shari redstone for the plan that's been put forwardor the synergies that would be available, the change in operations. interesting to watch and see, and always important to point out to people, when you have a control shareholder, you can't guarantee that you're going to come out on the right side here. now, there is going to be a need for potential majority of the minority vote. you have a special committee, as i've said, by the way, as part of the deal, they have to agree that sky dance could get merged into paramount, but keep an eye on that $3 billion in equity, jim, because it would potentially be dilutive, but my understanding is, even if this deal doesn't happen, there may be a need to raise additional equity down the road. >> obviously, let me just posit, we all know that the weakness at many of these different outfits, warner bros. discovery, us at disney, is linear. why would anyone want this property? >> it's a good question, and it's one that actually barry diller seemed to raise on his conversation with the "squawk" gang e

by the way shari redstone owns 80% of national amusements.iz: can i put this back on? okay, keep going. >> keith ellison of sky dance and redbird, they want to buy it. here is the question, does this thing making shari redstone rich, does it do anything for the common shareholders like your pal mario ga belly, your pal warren buffett, who will not just sit there and say shari gets all the fun and we don't. in that context, until the deal happens, it is not a done deal until you read the press release, the whole thing, go out and do a sales job. what will be the main sales pitch? by the way -- liz: what is david, not -- >> david ellison, is a new generation of leader. they're going to put him out front and center from what i understand to explain that, okay, you, the common shareholders, when we get this thing settled it i will be we buy her stake there will be a lot of financial engineering. somehow redbird and skydance and kkr, will come out, they will be common shareholders this new company that will be worth about five billion dollars. liz

the redstone family and skydance have offered concessions to make changes in control more appealing to investors. you have paramount global up 3.6% on the day. and this week is the big fed decision where traders will look for any sense of guidance from the fed on the direction of rate cuts. this is what bloomberg guests are saying. >> if things are slowing down enough, then yes. >> we are focused on other things. whether they cut in september or november or december is not important. we are willing to trade rate cuts for earnings growth. >> the market has already started taking rates off the table. >> janet yellen has a difficult time sticking with a hawkish tone. i would not be surprised if in the q&a, they turned a little dovish. >> base case, the inflation data will soften and there may ease some restoration of the confidence. he won't be able to communicate that. a fairly hawkish press conference. >> today's big take, one of the most read stories on the terminal, jerome powell's dovish december pipit saved the u.s. from recession. adding inflation back under control will require a

sentiment shares are still down about 25% since the news broke back in december 10th and sherry redstoneng stake in the company. now sources tell me sony and apollo are considering submitting their alternative proposal to skydance's bid as earlier as this week there's another wild card here, as well and paramount's negotiations with charter over their deal that expires tomorrow night. the terms of that deal and whether charter takes all of the channels and with what fees will impact paramount's value going forward. jon? >> julia, this is a company and an industry under a lot of pressure unless your name is netflix. regardless of what happens here, but does it look like people are feeling that this deal with ellison is probably the bird in the hand >> you know, that's what i was hearing up through yesterday, that this deal was sort of set to happen, that this is what sherry redstone wants to happen and the fact that we're now getting more of these details leaked and the new terms of this deal and the best and final offer does make it a better deal for shareholders to me makes it much more

. >>> well, harry are redstone facing -- sherry red shari redstone facing drama.t her plan leaving the fate of the home of blockbusters like titanic, the godfather and indiana a jones in limbo. "wall street journal"'s reporting that ceo bob bakish could resign as a early as today. you know, they're reporting after the bell. stock is up more than 5.25%. they lost 80% of their market value in just that last 8 years. >>> well, jamie dimon not only runs the nation's biggest bank, he's also a been crowned the country's to best dressed ceo. that is according to a new poll by custom inc. dimon, quote, sports professional attire. other names on the list, maria, number two, capital the one founder richard fairbank, number three, visa's ceo. foot locker chief mary dillon, the only woman making the list. they all look great. i'm sure you agree. [laughter] maria: yeah. nice accolade there for them. thank you, cheryl. >> you bet. maria: meanwhile, a new cnn/ssrs poll finds former president trump leading president biden by 6 points in a head to head match up, 49% to 43%. the sa

the redstone family and david ellison are trying to appease angry paramount investors.ources tell us that the redstone family which controls a majority of shares and ellison of sky dance are both making appeals and can -- and allison is offering to buy a block of paramount shares at a premium. his bid described as the " best and final offer" as board members remain undecided about a sky dance takeover. bob bakish could be ousted as soon as today by a management community. jonathan: appreciate the update. that story has been a mess. look out for updates on that. got updates on this and re-add. secretary blinken has been speaking, saying the israel cease-fire proposal, he calls it extraordinarily generous. the only thing standing between a cease-fire in gaza. that is the latest from secretary blinken this morning. much more headlines throughout today. up next, the 2024 presidential race ramping up. >> the 2024 election is in full swing and yes, age is an issue. i'm a grown man. i'm running against a six-year-old. jonathan: that conversation just around the corner. from th

i think that could sway things to an extent, but as to mention redstone owns, whatever it is, 75%, 80% this is going to get -- this is really about the deal i don't really think focusing on earnings or streaming -- that landscape may look drastically different six months or a year from now under new leadership, and under presumably a new merger agreement. >>> fair enough. we've got a buzz kill for you on sofi technologies. the stock plunging over 10%, as guidance from the second quarter came in lower than expectations. the ceo saying that 2024 is a transition year for the company, as it shifts focus to areas outside of lending sofi raised full-year guidance so, should we expect a pickup in the back half? what did you make of this report a little messy >> this is a company that's also had a lot of volatility in the share price, because there's been different dynamics around their core business. and i think this is just another question there if you think about a world where funding was at x, it's now at x plus 500 and rates are staying higher for longer. that's squeezing businesses like

shari redstone seems enthusiastic. will it get to the finish line? that is a key question.mi-offering from apollo of $26 billion, which was simply one letter, didn't do anything to help the special committee, which is going to be under a lot of pressure. it's going to want to establish a record in terms of decision making but there hasn't been any more delineation is my understanding. >> the thing we're looking at right now, the common stock, does that have anything to do with the things you're talking about? >> it does, because there will be dilution, but that will be taken on eventually, because you'll have a far stronger company. you'll have a merger of skydance and paramount studios. you'll have a completely different approach that perhaps current management simply is unable to do right now, given the constraints they're under. you will have a rationalization in some way of the streaming service, perhaps there will be asset sales of some significance. jim, you know -- >> there is a ceo by the name of bob bakish. i'm not hearing his name at all. >> no, no, no. if this pl

it was sumner redstone and barry diller.f course, redstone prevailed, viacom buying it for $10 billion, by the way. value above the current market value for paramount, which also includes cbs at this point, as well as viacom, which became a far larger company. here we are again. i have to admit i find it fascinating yet again. let me give you a quick update because we have been covering it for some time. first of all, this period of exclusivity that the ellison camp, skydance, red bird, kkr also a part of that right now, are in right now in terms of negotiating with the special committee of the board. that is going to end early may. they're not going to have a deal done by then. i don't think the market expected that would be the case, but certainly worth mentioning. every indication i get from people on all sides is it's going to take more time than that. they are negotiating in full right now. there are obviously, as you might expect, conversations between the advisors to the special committee and the skydance camp as well

want to show you some video posted to social media showing two men pushing chunks of rock off redstone dunes trail. it is one of the most popular hiking spots in the park. park rangers are now seeking the public's help to help identify those men. officials say the damage is irreversible. those formations were shaped over time. out of 140 million year old sand dunes and are federally protected and in the state of arizona, ticket prices to the arizona coyotes final home game on wednesday night are spiking into the hundreds of dollars amid rumors the team is moving. >> the nhl executive committee has approved the move to salt lake city. the decision will now be voted on by the league's board of governors, which includes all of the team owners, though no official announcement has been made, the coyotes general manager bill armstrong informed the team on friday that the franchise will be moving to salt lake city. the coyotes owner is reportedly selling the team for $1 billion, and you can hear about the west coast top stories every weekday right here on ktvu. west coast rap with alex savage

for many shareholders who have been less than enthused with the idea of control shareholder shari redstoneough national amusements getting a large share for her shares, while they got nothing, except the promise of a higher stock price based on the merger. what i can tell you is they have moved along here in terms of this exclusive negotiation that's been going on between the special committee and the ellison group to the point where it is my understanding, at least, that they've gotten to basically kind of what they would call a -- expect to be a final offer from skydance. now, things can always change. you can also tweak things. it doesn't appear they're going to have a deal in hand on friday, but perhaps they will get very close to having something that is close to that deal that could be signed up, brought to the control shareholder, namely that being shari redstone it does include, is my understanding, and this is an important component here and one that the special committee has been pushing for, what is essentially a premium that would be paid at least to these shareholders for some

the natural rock formations at the redstone dunes trail are protected and started forming when the dinosaurs roamed the earth, they started forming about 140 million years ago. >> that damage is unfortunately permanent, and people won't be able to enjoy that particular location as much as they might have before. >> those men could face felony charges, including fines and even possible jail time. >> in wisconsin, a community is coming together in the search for a woman police say was murdered after going on a first date. here's abc's derrick dennis this morning. >> family and friends of 19 year old shade robinson of milwaukee. want closure. >> i think everybody is just overwhelmed. >> robinson's cousin among those searching saying she's too exhausted to go on camera. they're searching a local park for more of her remains after someone found a severed leg linked to robinson through dna evidence. >> people want to get on the water because she's obviously he. she might be in the water and we don't have the resources. >> police say robinson was last seen on april 1st, when she was on a first date

it is buying the holding company, shari redstone's stake in the holding company that owns paramount'ske and doing reverse merger, issuing new stock, there is a lot going on here. all that will be reviewed by the biden administration fcc, ftc, and doj antitrust. that is what makes what went down today very interesting. "the washington post" did a story that said, that, they cited the campaign filings and i looked it up myself, that he maxed out, gave the most money he can, i think it was something like 800, $900,000, almost a million to the joe biden victory fund which is soft money fund-raising enand gave it in the first quarter of this year. also noticed he gave first quarter, maxed out joe biden directly, $6600. there is limits how much you can give directly. a lot less limits how much you give the pacs. people are scrambling around, "washington post" and others, shows david ellison, who is larry ellison's son is giving money to biden isn't that crazy? they're missing the big story we're bringing exclusively on fox business, the confluence here has nothing to do with larry in my vie

right now is that the skydance media deal and paramount global is in exclusive talks gets sherri redstone out of the company. skydance takes over her controlling shares and merge assets with paramount global the common shareholder would be along for the ride it would change nothing for a common shareholder of paramount global other than the fact it is diluted of the new equity that comes in if it went for a full takeout of the company with apollo and sony, that could be better news for the common shareholder they could get a big premium on the shares i would say one thing. if you believe in the david ellison and skydance camp, they can't be public about that, then you could say there is more upside in that deal because it is a publicly traded company and we get to capture. >> a lot to consider from the competing deals. paramount global shares up had 4% on the news that bob bakish is out ahead of the earnings report later today we hit on the shareholder and deal structure what about the streaming wars? what does this mean for the streaming deal and paramount global moving forward in the h

you will see more coming into this. >> there is a share class which is controlled by sherri redstone.verge massive live. this is a super shareholder. >> that stock down 28% year to date. it is up about 6 cents today. >>> when we come back, new data on china's economy. "squawk pod" has been nominated for a webby award. you can scan the qr code over our feature of the interview with charlie munger before he passed away. that code on the screen will take you to the page where you can show support for us in the webbys. voting is open until april 18th. "squawk box" will be right back. >> announcer: executive edge is sponsored by at&t business. next level moments need the next level network. [due at target in 5!] copy that. make a hard left down the alley. network's got you covered. [please confirm requesting back-up.] -changing route. -go. roadblock ahead. ...back up, back up... reverse! reverse! next level moments, we're 30 seconds out. need the next level network. [north corridor, hurry!] -coming through! -or 3, let's go. the network more businesses choose. transplant received. at&t busi

concern the nonvoting shareholders would be diluted and somehow the controlling shareholder, the redstoneily, would benefit at the expense of the nonvoting shareholders. so this would be a much cleaner deal and one that would be cheered by all the investors. the fact sony is coming in with apollo definitely puts to ease any concerns the management team at paramount or any other investor might have had in terms of financing concerns with apollo. just given sony's deep pockets. annabelle: another stock we are attracting is netflix following its earnings. so many positives to take away from the report but investors do seem to be focusing on the negatives. >> it was absolutely a blockbuster report card. you had a subscriber blowout. their revenue numbers were really good. operating margin, their upped their guidance. everything we were looking for they delivered. of course one could argue the revenue guidance for the second quarter as well as the full year maybe can in in line to slightly below consensus estimate which is what is kind of spooking investors. embedded in that guidance is the fa

.>> sherry redstone has reached a tentative agreement to sell her stake in paramount to sky dance mediacording to bloomberg. this follows the wall street journal reporting earlier today that they were in exclusive talks. the provisional accord is to purchase national amusements, which does control 80% of voting stake in paramount. mike?>> this deal is sort of handicapped. we will see what it will be for the paramount down the road. the s&p 500 is struggling for direction, as the treasury rises to the highest level since last november. max is joining us. max, it's good to see you. there are familiar challenges to the market that have been feeding off a perfect backdrop. inflation is on the downside, people are expecting a strong economy and record highs stock market, there may be some convocations. how do you see it playing out?>> for the next couple months we are in for some further gains. we look at some of the macro data in the united states and globally. and it plot - - it applies in particular to the united states, ceo confidence has been picking up. we look at consumer sentiment ar

redstone is said to be in a deal to sell his shares to elson.usements holds a near 80% voting stake in paramount. sources say spotify plans to raise the price of its audio service in several key marks for the second time in a year and add new subscription tiers. they told bloomberg the hikes will come by the end of april for markets including the u.k., australia and pakistan. spotify is planning to raise prices in the u.s. later on this year. the hikes will help cover the cost of audiobooks, a popular new service. plenty more to come on daybreak australia. this is bloomberg. paul: the c.i.o. of t. rowe price said the fed risks losing credibility if it cuts rates too soon. they said early easing could trigger a repeeft the 1970's when the central fed took its foot off the brake before inflation was fully tamed. >> one of the things that stands out to me if you go back to what powell said early on, he's a student of what happened in the 1970's. if you look at the mistake made then, cutting too early. if you map the c.p.i. to the very beginning of

but as you try to think about why would jerry redstone be into considering this david ellison path? personal premium she's getting from this deal but might be some strategic sensibility. part of the ellison team is jeff shell who was the guy running nbc universal and he's a really sharp, smart, proven capable operator who is always looking several steps down the road. and i can see a jeff shell understanding how to navigate these waters in such a way that paramount plus oracle money plus k.k.r. money equals something bigger and better. think about this, i think it's time to talk about netflix as a traditional media company. why is that? because netflix is not like those tech giants. it's got some sophisticated a.i. but you wouldn't put it in the same category as microsoft or an apple, let's say. so netflix is an undiversified media play. they're solely reliant on subscriptions and how they introduce an ad service, so that's helping them a little bit. but ultimately, they're in the same pool in terms of market cap and revenues -- not market cap but revenues as the warner bros. discov

shari redstone's people are saying their initial proposal included some reference to pif, saudi investmentght off the bat. you bring in sony. well sony is a japanese company. now why does anybody care about foreign ownership? this is a huge bugaboo with regulators t has gone back even with republican administrations, they don't want media assets owned by foreign entities, they don't like it. cbs in the past was owned by a foreign entity. i could be wrong, go back in time. it is not something they like especially the biden administration with the saudis, verboten almost. so, they're saying, this deal just can't get through the way it is. you have to ask yourself if someone is giving you 26 billion for the whole enchilada, you yesterday, signed it, got shareholders it is not being done because of that rule? keep that in mind. apollo is doubling down with sony they're saying. does that mean skydance redbird thing is going to happen? i can't tell you this is so complicated. it is going to be litigated and everything else but it looks like right now that's the only game in town. liz: well, may

sumner redstone is the controlling -- of paramount. both agreed on the broad framework of the deal. a 30 day window of occlusive talks to iron out the details. all of this according to sources. ed, when you deep dive on the market reaction, positive. analysts are saying there were questions and answers. ed: i'm more confused about the future of paramount. i know that's a copout but that's literally raising more questions than answers. one concern is this deal was done between voting rights shareholders. what about the nonvoting rights shareholders? it's very complicated. caroline: where is there value in a merged entity. rather than being split up as apollo is suggesting and taking bits of the assets. ed: and taking the library. caroline: real offers on the table is a key takeaway. that does it for this edition of "bloomberg technology." ed: quite a conversation with openai. check it out on the podcast. this is "bloomberg technology." ♪ do you want to close out? should i? normally i'd hold. but... taking the gains is smart here, right? feel more confident with stock ratings from j.p

one is the sherry redstone controlling stake i talked about. management because a year ago they cut the dividend, and yet here we are, two positive free cash flow quarters in a row and probably another one this quarter which has the analyst community asking, why did you cut the dividend? this is a situation people aren't going to believe anything until there's a deal on the table, but, again, with the apollo deal out there, i think this is a low 20s takeout. >> do you want to give me a quickie on now that we have a definitive win for disney in the proxy battle with peltz, which iger talked about on the network today, and said now the board is solely focused. the number one priority will be succession. how are you thinking about that from here forward as a share holder? >> the succession issue is a 2026 issue. obviously they'll be working on it this year and next. for me, now it's a time to execute particularly on streaming profitability, the hulu deal and whatever they're going to do with espn. it was intriguing the stock went down when the res

penalties because people like bruce willis and oprah winfrey and a bunch of other people like sherry redstone they don't want any crime. they've got drugs and gangs and, you know, they are sending a message. i'm going to say one more thing because i know this has to be short. short. when you want to stop crime, you have to be clear there are going to be consequences, and i'm not saying that this guy doesn't deserve a break. i think he does. i don't think he did anything intentional. but this is what countries do. this is why china doesn't have a drug problem. they kill you if you sell drugs in china. >> jonathan: although on the scale of gun runners, we can put him relatively low -- >> greg: yes. >> greg: yes. >> jonathan: the idea of inserting the bullets physically, manually, has not been a huge problem in terms of this law. i think the problem i see is they don't seem to have a lot of leeway in how they deal with these things. you can't have a criminal law that is strict liability, regardless of any circumstances. this is obviously not an intentional crime. again, i imagine he really was t

of enthusiasm due to the company's ownership structure which would tilt any deal to benefit the redstone'seholders. the company is reportedly in talks with scott as of her aim merger. have to negotiate this in public. >> it has been going on for some time now. it feels like this company will be merged with somebody sometime soon. >>> according to wells fargo, costco, yes i'm a costco is selling as much as $200 million in gold bars each month. i've been to costco lately. i have not seen the gold bars. >> i try to search it lately. >> you can't find it? the retailers are finding one ounce gold bars of nearly pure 24 karat gold and what is estimated to be 2% above spot prices. gold hitting another record high today n $2400. maybe, they have a julie center there, right? >> i would if you can get it online or in the store. but gold is very heavy. >> and the checkers, they would be frisking you. >> where you store it? you need to purchase a save also, so there you go. with gold reaching all-time high you can get the physical stuff. >>> a possible -- popular youtube channel had $100 million-$300

one of the things he represents les moonves trying to unwind shari redstone out of national amusementskelly: all this uncertainty if etherium ends up being declared a security. gary gensler doesn't have much love for the crypto space, that bitcoin etf, that makes bitcoin potentially skyrocket, the bitcoin etf become more attractive. >> if etherium is deemed a security, ripple is already, they believe it is a security again, half-baked victory. too complicated. they will appeal that, good grounds to appeal it. one crypto they'll will be legal so to speak. kelly: right. >> everybody has to go to the sec, pay money it will be crazy. it will be bitcoin and that will cabinet positive for bitcoin. kelly: definitely. >> i don't give investment advice but logically. kelly: logically that will make sense. thanks, charlie, we'll watch this for sure. the closing bell rings in just under five minutes. the major averages trending lower right now well off the lows of the session. the busiest day of first-quarter earnings season gets even busier after the bell with chipmaker intel out with earnings a

gosh, it happened in redstone dunes, a federally protected site. is a federal crime, by the way, where punishment can range from six months in jail to a lengthy prison sentence. >> why are we covering their faces? >> is the only thing that comes to mind. >> i mean, do they have nothing better to do but go and destroy them? >> it just do they do this for social media because that's very, very, you know, not smart. >> and if they do, why are we covering their faces? >> absolutely. >> shielding their identities. i mean yeah, why you can only think that they're doing it for social media. >> because what else could be the driving or motivating force? did the rock upset you? right. i hate these rocks. like oh my gosh. >> yeah. i mean people could have been hurt if they were underneath it. they could have been hurt. did you see one guy almost look like he was going to slip, right? yeah. >> people are willing to do so many crazy things right now just for likes, just for views. and the fact that we're even showing it right now, i hope that nobody goes and s

. >> a question how a transaction can take place so shareholders are treated fairly, so the redstone they can. can you speak how this could work, or not? >> obviously, i can't really address it other than to say all parties involved share redstone and her position, the committee representing public shelters and their position, b shares, are taking every day exquisitely seriously in terms of doing the right thing. the right review. the right thing for the company in the short term and the long term and just highly focused. >> do you think there's a deal in the next 30 days? >> you know i can't say that, my question is why negotiate exclusively with one party if there's a potential higher offer? >> you know i can't say that either. i can tell you -- >> theoretically. >> theoretically you would do something weighing all of your options, thinking about what is doable what is not doable. what is real, what is not real. and making sure that you're making the safest play for shareholders in the way that you're combining certainty and safety with also maximization in the short and long term.

at the final stage, the choice is between the navy research laboratory project and the redstone arsenalespite the fact that von braun promises, if there are sufficient... place it on the table when the queen is brought the first drawings of an artificial satellite, he was extremely surprised by its shape and immediately asked: thank you, thank you, why is the satellite not round, then they told him why it should be round, like sergei pavlovich said that it’s like a celestial body, a celestial body, it of course it seems. was not supposed to be oriented in flight, that is, it could somersault in flight, take an arbitrary position, it was necessary to make sure that, regardless of the position, so that this position did not affect braking, but with such an object, that there can only be a ball. on january 5, 1957 , korolev sent a memo to the kremlin in which he spoke about the preparation of two satellites, a simple one and a heavy one. it is proposed to launch the devices immediately after the first tests. r-7, but the rocket is not ready yet, and korolev does not even imagine what surpr