i have seen rupert do a deal. and rupert takes his time. he proceeds on his own pace and of course he gets the deal done. >> give us some insight into what a typical day is in a situation like us. -- like this. >> he comes into the office and he gets on the phone and what he does on the phone, what he does for most of the day is get information. gossip, information, he pulls it in, he dissects it, he looks for weakness. spot, and thatak is what he is doing was time warner. it is what he is doing right now. >> it is what he is doing right now. what about other members of his family? two interests in his life, his company and his family. nothing else exists. is on thely that he phone with one of his children now, likely with one of his sons . he is not speaking -- if he is not speaking to his daughter at the moment and 30 minutes from now, they talk all the time. >> will they be adding anything to the deal or does he send them out to say i want a specific kind of information? lot, they'll let him and tell him he is wrong. they had to him and

>> well, i think rupert murdoch always wants scale. and with the changes occurring in the media market, with the evolution of netflix that shipped on people having no one to watch their television shows and possible changes in advertising over the next few years, that he feels there's the sense to be bigger and he needs to do something important. so i anticipate that he'll let things die down for a little while. he'll see how the business is evolving in the beginning of next year. where the new programming is heading, where the stars are heading, are they having deals with netflix, are they signing deals with other start-ups. and if there is a serious migration for these platforms, i think he's going to feel a greater sense of urgency. i think time warner is going to feel a greater sense of urgency that there may be need for change. so i think the legacy he's trying to protect or keep intact is something that can he make a major transition from this cable platform to the internet. and to do that, i think he needs scale and i think at t

rupert murdoch was bidding against himself.s not a position you want to be in, but backing away from this bid for my he puts himself in a better position where it is not first offer or higher. >> should jeff bewkes have engaged a little bit more with rupert murdoch? >> look, he has clearly been a position to get the benefit of the doubt from shareholders, because as we have been highlighting, he took a strategy to get out of businesses that he did not believe he should be in. that resulted in some pretty good performance for time warner stock. but it also left him in some ways exposed to a company like fox, to sort of say, where is the game plan from here? no doubt there will be pressure on a company like this. a lot of these media companies do you like there is a way to squeeze some juice from some of the new ways of consuming content. he is a veteran, and he talked a lot about the delay structured with amazon earlier this year, which brings older hbo shows, shows at least three years old, to amazon prime service. amazon is hu

>> this is rupert murdoch we are talking about.f you believe rupert murdoch has looked at the bigger strategic plan he has had in five years to change his company, made a single offer out there and said, "you know, .evermind i'm going to take my ball home." that certainly indicates a company that was taking all of its tools and taking away from a potential acquisition. but as you said, $80 billion, $75 billion -- this was a bid that was largely to me about writing a stock check, levering up the combined entity in a greater fashion, so they are using some of their cash to shore up their balance sheet over an undetermined period. stockaid it eventually buyback. as we know, most do not happen when companies announced them in the same full way that companies announced them, so i'm not convinced this is not just one move in their bid to put pressure on time warner, and that pressure is felt by a falling stock price -- it's worth noting a falling stock price on the same day time warner announces earnings, and the ceo has to face off with

you think rupert murdock is really walking away?is is about putting the ball in the court now. time warner didn't want to talk to them. jeff you prove you can get your stock to $85 let alone my gut is rupert was willing to pay more than 80. he was probably $95. can time warner actually get there or, i know, locking at their rules, advertising still really soft up only 1% t. question is who ul this merger have created more merger than the companies could have generated themselves? jeff will have a lot to answer at 10:00 this morning. >> i thought the timing was brilliant. announceing this the night before their earnings, a quarter we knew would be better-than-expected numbers. time warner would be pushing to show investors how much they can do. they came out, beat expectations, if you look at that stock today, down more than 10%. >> becky, you got to remember. hbo, a great quarter, the profitability growth is tremendous. remember what they did during quarter, they stole their back catalogue to amazon, a one-time adrenaline jolt that

hostile mergers is rupert in the name of the game. over.e this over the notion, as i think about this, the notion that he would walk away from his most important strategic t decision for his company the last five years, to just walk away and give up i think it is the timing of this right before the conference call is really important. certaintyere is no that this is truly rupert murdoch walking away from a time warner asset that he played his cards out to identify as valuable and something he wants. the more i am leaning toward this is part of his game. rt ms.hink ruper play this out of the gate, i do not think he will walk away. i think he is going to sit back and give them six to 12 months to see how they do. the stock would tell him whether he is an opportunity to come back. he will take care of his show rollers by buying back $6 billion worth of stock. with regard to rupert, there are other animals in the jungle, and we have thought there is going to be consolidation in this industry. i think there's going to be consolidation. rne

off, what do you make of rupert murdoch's non-deal? speaks forhat itself. he got out there with a very attractive offer, and offer i hope nobody would talk, -- top, which appears to be the case. maybe they had some expectation it would move a bit and i felt like -- and maybe he felt like it was negatively affecting his stock. they would return to shareholders. >> yes, but that may be over a certain time frame. in which case, the stock back, if they had to use it, it would certainly help their balance sheet for purposes of borrowing money. you don't give all of that money to shareholders from day one. >> that is true. hang on, because i want to bring in jeff mccracken, a bloomberg news reporter, who has been working on this story for us. the big question people were asking last night is whether murdoch was really done with time warner. but i don't think this is a ploy. -- >> i don't think this is a ploy. he is frustrated. in some respects, his reputation for being aggressive, which generally helps him when doing a deal, i think it worked against him. because

this is a new, different rupert murdoch. been working for shareholders in the last decade and the stock has done great and he decided he could not take the dilution. >> let's go to a transaction in the moment. washington will not accept a duopoly or try out fully. the president and his administration want a four-way competition, and that is what you have where sprint will not go after t-mobile. from moffett moffettnathtanson joins us by phone. what is what we need to know about the future of sprint? >> that is a tough question, because sprint faces a tough road now. we never thought this deal had any chance to happen. i cannot say i'm terribly surprised. but it seems like in the run-up to trying to deliver transaction with t-mobile, sprint all but abandoned it -- it's plan b, which is to run the business. they've got a lot of wood to chop with respect to fixing the network, they're pricing, their brand. it will be a long road. whichfar as service, describes 105%, do we really need for competitors? >> the trade-off that you a

rupert murdoch says i am walking away amid maybe we should believe him.ave seen this before. >> how vulnerable is just up-ice? buchus? almost $10 perwn share. i would have to imagine the natives are restless. that he better put something up on the board or an activist will be in his kitchen demanding action. think that is probably likely although he is built up a lot of goodwill. the execution has been good and assets are in good shape and i think it will give him time to continue to exit. at the same point in time probably experiencing a little bit of you do not know what you had until it is gone today and i am sure they're not too happy about that. the shareholders that is. >> i think what he has done is fairly for marketable. i do not think it is a situation where you could say you need to fix your house. but aliens of dollars of market value just evaporated overnight. fox and the other media companies, there is not a controlling class of shareholders. it's not about a crummy management situation or a business that needs to be cleaned up. i think what

offer,, the time warner the takeover by rupert murdoch is over. the shares are up just a tad. irelli the biggest tiremaker in italy, they are very expensive tires and selling better than expected. calendar. like the they are sticking to their guidance and that is something investors like to hear. >> i do not think i am the only guy who likes it. vladimir putin has signaled he plans to retaliate against international sanctions threatening russia's economy. one measure could be a ban on trans siberian flights by european carriers. shares fell in that report yesterday. factory orders dropped by the most in 2.5 years. interesting the german economy ministry blames geopolitical risks for the drop, what the numbers point to a tim .4% drop in orders from the eurozone -- a 10.4% drop in johnson -- in orders from the eurozone. johnson will introduce the report showing remaining in unreformed block would be worse for britain than pulling out. we will bring you that speech live on bloomberg in one hours time. scotland votes on whether to accept the united kingdom. the leaders of the pro-

maybe rupert did this to make it look bad? did you ever think of karen's point?u wonder if he was sincere, maybe he had alterier molaw ul motives. we sit down with the ceo of sur epta next. ...for the year. hi. sorry. just want to say, i bundled home and auto with state farm, saved 760 bucks. love this guy. so sorry. ulterior . dsl myth #1. it can help your business save money. false. the truth is when you compare our fastest internet to the fastest dsl from the phone company, comcast business gives you more for your money. why pay more for less? call today for a low price on speeds up to 150mbps. and find out more about our two-year price guarantee. comcast business. built for business. .. groupon amess after hours, down 15% because it missed on revenues and disappointed in outlook. in the second quarter, it's slightly better, revenues missed by $10 billion. mostly due to higher commissions for the goods business and travel. adjusted eps pet expectn, active users up 53 million. ebitda at 59 mc. as for the outlook, they reduced ebitda as it plans to spend more on

>> this is rupert murdoch we are talking about here. if you believe he has looked at the biggest strategic plan he is set in five years, made a single offer and then said never mind i am going to take my ball, and you can play by yourself -- when i first looked at it and thought well they are pulling away in , it$6 million buyback certainly indicates a company that has taken all of its tools away from an acquisition. but as you said, this is a bid writing aargely about stock check. about levering up the combined entity in a greater fashion. they are using cash to shore up their balance sheet. they said eventually a stock via back, as you know most stock buybacks do not usually happen in the way companies announce them. not not convinced this is just one move in their bid to put pressure on time warner. , a falling notice and facing off with investors, some of whom will be picked off -- ticked off that the stock is down that much. john, what about you? could this be just another move towards the ultimate and game? he has an excellent poi

>> i really don't know, and rupert's track record is fantastic. this speaks volumes for the value of content. time warner certainly has great content and great brands. i think, obviously, rupert saw value in those businesses and those brands. i think as we know as a company, there is a lot of value in brand franchises and content. so, i can't speculate what any next move might be. >> with so much consolidation in the distribution space, comcast, time warner cable, at&t, do you think there is more pressure on companies like fox and disney and time warner to merge, consolidate? >> i don't know there's necessarily pressure to merge. i think in today's world, given consolidation in distribution, you are much better positioned if you have an array of a great content, great brands than if you have maybe just one. we're extremely well positioned as a company because of the franchises and the brands that we have, but it's, you know, it's still an environment that from a distribution perspective can be challenging. again, if you've got great brands, you're

and rupert is when rupert gets his sight set on something, he does everything he can to get it.'t think in this case, news corporation is looking for a certain price and time warner is looking for a certain price -- i don't think there will be a rationality. i think there is incredible synergies in the companies and you could run multiple studios and cable networks and use the leverage of the combined company to take some back office expense out. i think news corp. will work very hard to get the deal done it will have to be the right rice for time warner. i'm stating the obvious but the deal will have to work for both sides. probably disney is out there working and thinking about it and probably one or two others. >> as somebody who spent a lot of time in silicon valley, do you think it is possible in this time of convergence, tech media, all is fun things, you would see them act as a white knight to time warner? >> i don't. owning content is outside the comfort zone for silicon valley. netflix and apple have really figured out how to ridge the 344 miles between silicon valley a

according to rupert murdoch, that is not so. liz: what is fascinating here is that jeff bewkes, the of course the ceo of time warner, had taken again a very defensive standpoint here, changing those bylaws to make sure that shareholders couldn't have a voice in this, could not put it up to a vote. it would have to go all the way to next june where they would be able to deal with talking about this and maybe changing those bylaws once again. but the price that was offered by twenty-first century fox is considerably higher than what time warner is now trading at. the bid, $75.28. this is going to be big news. david: that is a drop by the way of 12%. so stockholders of time warner have to consider that to realize they were getting a better deal. liz: thanks to tom and brian and larry shover. david: sorry we had such breaking news. coming up in a moment here, dallas fed president, richard fisher, he of course is one of the most vocal hawks at federal reserve but was not the dissenter at the last meeting. why was it that charles plos

if media mogul rupert murdoch really giving up?hris, good to see you, greats to be here. >> you say he's not done but already deployed $6 billion to a buyback program? >> listen, rupert and his team didn't wake up a month ago and see we're going to buy time warner. he his eyes on it for a decade. at the right price, a friendly basis. that didn't pertain. maybe in the future. gained credibility and put pressure on jeff bezos. >> during the discussion, we want viewser to weigh in. go to cnbc.com/vote, cast your ballot. see results on the bout mattom e screen. vote as. times as you wants. rupered murdochs criticized for overpaying, here saying, i'm going to walk away. sort of gains credibility stepping away. >> and invested with the $6 billion. just pupped it out of sky italia. >> and a lot of people thought pulling out of that deal to raise a bid. >> generated, it's not going to bra break the bank. >> what about the landscape mee immediately to stem away with money? a lot of other deals, digesting deals they're in the process of acqu

he definitely is rupert murdoch.ing to do what he wants to do and say what he wants to say. i don't think he cares at this point. >> but kara, do you think there's something more to it? >> you know, might he be in washington, people in washington who are underlying all of this, or should we just take these at face value? >> i think he's home on on a sunday. he's talked about this issue before, the hypocrisy of google collecting all this information and then complaining about the nsa. to say they're worse than the nsa is to me a step too far. you know, i think he's trying to raise these issues about the power of these companies like google over companies like his, too, because they are the new gatekeepers. and in the old days rupert murdoch was the gatekeeper. he has power he doesn't have. he's reacting to it. >> that's a point. and you can read more of the tweets with rupert murdoch with kara we've been taking a look at tech ceos doing the ice bucket challenge to raise money and awareness for als. he challenged our o

what's rupert murdoch's next move? michael wolf will be joining us.back. >>> welcome back. we often talk about alternative energy sources but boeing may be taking it to the next level. the aerospace giant is teaming up with south african airways in a dutch company to develop jet fuel from a new type of toqueco plant. an announcement the companies say south african performers could begin growing a tobacco plant which is virtually free of nicotine. the projects partners argue the biofuels derived from organic sources could reduce carbon emissions by as much as 80%. >> isn't this ebola serum related to tobacco plants? >> there is a company that is working on that aspect of an ebola -- >> all right. >> let's get to hurricane iselle strengthened slightly and is projected to be a hurricane when it approaches the big island today. the weather channel's mike seidel joins us with the latest. >> we've got two systems. we're watching iselle and also julio for later in the weekend. iselle is the short-term impact. it has a much higher probability of causing probl

time warner reports earnings for the first time and it was offered a buyout deal by rupert murdoch's 20 percent three cost -- 21st century foxx. iq joins mecapital now. what are we expecting to hear tomorrow? he already said he does not want to do a deal with rupert. >> obviously, the headline is going to be -- you know, the main question is going to be, why not? we think there will likely be a ly better offer, anything up to $95 per share to get a deal done. of there is also the kind consideration that foxx is offering, primarily in stock. i expect the earnings call to be dominated by questions around what type of consideration and what terms might be amenable to time warner. it is not enough for time warner to say they are not talking to fox, as they have done. the question is, why not? .> take a listen >> after consulting with our financial and legal advisors, determined it is not in the best interest of time warner or our shareholders to accept the or to pursue any discussions with foxx. the boardly, concluded that continuing to execute our strategic land and our business plans w

rupert wingfield-hayes reports. >> yesterday this was a neat and tidy neighborhood. housesa mangled heap of and overturned cars. huge rocks with mud. the torrential rain again shortly after midnight. within three hours, 25 centimeters had fallen and the landslides began. it all happened so fast. the first resident new about it when mud came into their homes. >> all we could do is try to get out, said this woman. the flow was quite strong. was i realized what happening, said this man, there was mud flowing around. everything started sliding away. japan is a very mountainous country. landslides are not uncommon. a very similar event killed 32 people on an island south of tokyo in august. these events are becoming more common and more deadly. in the 1990's, there was an average of 770 landslides a year. in the last decade, the number has doubled to 1200 and year. rupert wingfield-hayes, bbc news in tokyo. >> eric holder is now in ferguson, missouri meeting residents where there have been protests for more than a week now. he will also meet law enforcement officers who a

. >> coming up, rupert murdoch says he is done trying to buy time warner, but nobody really thinks were finished with media consolidation. >> plus, equinox is getting pumped up -- we will talk about the health club chain's latest acquisition with the ceo. ♪ >> first. bloomberg. " onhis is "market makers bloomberg television. i am erik schatzker with alix steel. you not often see two multibillion-dollar mergers disappear in the space of a half-hour but that happened when fox dropped its bid for time warner. the media world is reeling and wondering what comes next, and so away, so we turn to our roundtable. "bloomberg west" editor-at-large cory johnson is in separate cisco. paul sweeney, bloomberg and out -- san francisco. -- paul sweeney. let's begin with chase carey speaking yesterday on a conference call. , firstto say something saying "let me be clear, we are done. we have no plans to pursue a third-party content company as an alternative to time warner." do we believe him? >> in the near-term, i say yes. those are strong words. if they were to buy a third-party content company at t

rupert murdoch was on the call and what did he say about the withdrawn bid for timewarner? >> he addressed the issue straight off the bat. the decision came down to two fundamental issues, one was the fact that timewarner's management board was not willing to sit down and negotiate and two, the reaction of fox' stock and it continued to decline on the news. he was really looking to do what made most sense for shareholders, he said. >> what is next for rupert murdoch? is there any possibility he would come back this year or 2015? >> tyler, he also addressed those questions. there are rumors flying he doesn't mean he's dropping the bid, but he said we're rest lute in the decision to move on and then fox president and coo chase kerry echoed that. he said this is it, we're moving on and really indicating they are not planning on going back. the earnings call was wrapped up, there were questions what else they might want to buy or their outlook in general. they said the reason they were interested in timewarner in the first place is because scale is important but they stress tha

just had rupert murdoch visit his office. there's a lot -- >> wait a minute, jack conte just had rupert murdoch visit his office? >> yes, he did. yes. >> and jack didn't tell me anything. >> i guess not. >> jack conte is the -- is the --not the lead singer, lead musician in this band, pomp pomplemouse. his wife does the singing, and they posted it on youtube. it's phenomenal. he started patrion. he takes this idea that if you enjoy the video, you should pay -- >> all kinds of media. >> yeah. >> then the money is also flying to individual youtube stars being purchased by larger companies. of course -- michelle fann -- >> make-up girl. >> was just purchased by -- i forget. endomol beyond. >> do we have any idea -- >> i know the amount of money off the record. >> tell us. >> you want -- >> it was $4 million. >> wow. >> we should be -- [ all talking at once ] >> we'll keep that -- >> i want to mention, i went to another conference recently. and it was like the beatles experience all over. if there's not money -- there is. maker s

often a critic, rupert murdoch takes a shot.oogle with harsh tweets about privacy. >>> family dollar at center of a bidding war. dollar general announcing an offer to buy rival discount retailer for 78. 50 a share in cash, total transaction valued $9.7 billion, counters dollar tree's $74.50 a share, cash and stock bid. so much, jim for not everybody working in late august in the summer. somebody's working here. this is interesting. >> this was what we first thought would happen. >> exactly. >> surprised that dollar wasn't involved because it's a better fit. you can tell from the stock's reaction, people agree. i like all-cash bid. lots of overlap in the two, you'll be able to take out more cost. that's what we like about takeovers, consolidation and cost taken out. >> even icahn in family dollar and precipitated all of this at least public conversation -- we know discussions with family dollar and dollar tree had been going on for some time before icahn's involvement. he himself thought that dollar general was going to be the be

limerick, rupert road, disable vehicle. another disable vehicle northbound side of 202 past 401. right lane block there at that scene. aside from that majors look all right. >> kacie, thank you. 5:03, following developing story out every west philadelphia. police investigating shooting that sent 16 year old boy and 24 year old man to the hospital. it happened 4900 block fairmount avenue late last night. police say both of the victims were shot multiple times, fortunately, they are expected to be all right. they found a weapon at the scene. but the motive is still unclear. >>> and then out in montgomery county, investigators are calling the death after upper merion man suspicious, whose body discovered last night inside after home on the 100 block of stewart street. police aren't releasing much information. but we will continue to follow the story and bring you the updates as they do become available. >> 5:04, happening today, how will the delayed passage of the cigarette tax affect philadelphia schools? that's the topic at a hearing today at city hall. jennifer joyce now with a p

there's an accident in montgomery county, limerick, evergreen road at rupert road. be aware of that if you're headed in that area. >> katy was telling us about the traffic impact. it's a two-alarm house fire burning in camden. in the past five minutes, that fire spread to a third building there. nbc 10's jesse gary is live on scene. you've caught dramatic video that you're now sharing with everyone. >> reporter: chris, that was of the partial building collapse. let me move out of the way. we're standing on spruce -- i'm sorry, we're standing on 4th and that's spruce intersecting. on the corner, you can see the debris. you see the brick, rubble and debris. that was from the partial collapse. let's take a look at how that got on the ground. g. god. >> reporter: that's what happened about 30 minutes ago. a couple firefighters were standing there and were fortunate to get out of the way before the debris landed on them. the lone injury due to the fire is smoke inhalation. no one else has been injured. that's good news. the third building, the fire hasn't reached it but

rupert win field-hayes, bbc news, in seoul. >> the power of the pope on display again. that brings today's show to a close. but you can find much more and all the news on our website. to reach me and the bbc team go to twitter. for all of us here at "world news" america, thank you for watching and have a great weekend. >> funding of this presentation is made possible by the freeman foundation, newman's own foundation, giving all profits to charity and pursuing the common good for over 30 years, kovler foundation, union bank, and charles schwab. >> there's a saying around here, you stand behind what you say. around here, you don't make excuses, you make commitments. when you can't live up to them, you own up and make it right. some people think the kind of accountability that thrives on so many streets in this country has gone missing in the places where it is needed most. but i know you will still find it when you know where to ook. >> at union bank, our relationship managers work hard to understand the industry you operate in. working to nurture new ventures and help p

they say they don't think rupert murdock is done. he will telegraph he is done and will pounce again. >> it's a trust issue. i think it's difficult for guys to come out the way they did and come back to the market. >> also the way he worded it. he worded it sounding as if it wasn't shareholder value. if you are going to act that way, it sort of gets to the point is it really in the shareholder's interest? >> that quarterette yesterday in disney was fantastic. the time warner quarter was good. they got back down to a level where you look at it again. this fox quarter was equally impressf i think. they trade 18-and-a-half forward earnings. i think you can say it's rich. i think all these stocks at a certain level are very attractive on the long side. >> unless it's unusual activity here. center point's energy, which reported better than expected energy before the bell. what did you see? >> they had better revenues and they forecast for the full year, a lot of positive, stock didn't react very well. it's coming off the highs. it was in

you see rupert murdoch on the back foot. >> makes you question.it could be a tactic to push time warner shares lower. we don't know. we'll see. 21st century fox is withdrawing the offer for time warner. it was only three weeks ago when the $80 billion take over offer. it's since refused to negotiate any other deals. >> reporter: this is a rare public defeat for murdoch, a man who built a media empire over decades. this time he could not even get his target to the bargaining table. time warner is the second largest media company in the world. it owns several popular cable channels like hbo, it owns a hollywood movie studio and of course the tv news channel cnn. combining those assets with 21st century fox's own line-up of tv channels and a movie studio would have transformed the media industry. but time warner refused to even entertain the idea. the companies never met to discuss the offer. in abandoning the bid the market value of his own firm was damaged by news of the planned takeover. >> i think murdoch felt he couldn't get the deal done at the

look for the company to make that case especially since no one expects rupert murdoch to go away. shareholders are expecting him to come back with a sweetened bid. and if it's high enough, time warner may have to open the door to talks. in new york, i'm alison kosik. >>> egypt says it is planning to build a new suez canal. the move is an attempt to expand trade on the busy shipping route between europe and asia. the proposed canal is to run along the existing waterway which opened back in 1869. the suez canal is said to earn egypt about $5 billion per year. president insisi is hoping this massive project will be completed in one year. >>> today is a big day for scientists at the european space agency. they're hoping the rosetta spacecraft will finally catch up with the comet it's been chasing for the past ten years. it's a love story, really. the mission is to put the spacecraft in the comet as orbit. come november send a robotic lander to its surface. that would of course be a huge first space exploration. next hour we'll be joined by a writer for space.com to talk more about why

evergreen at rupert road. there's a crash there. be mindful of that.ç the rain is moving into new jersey. this is a look at the wet new jersey roadways. route 42, the northbound lane. there is some southbound construction, long-term construction project but that should wrap up into this area in the next hour or so, that's at creek road. >>> the pentagon calls them a major threat to the united states. military leaders explain the reason behind the rise of the islamic state army in iraq. >>> 4:45. nbc 10 first on the scene of breaking news in camden where one person has been injured in a house fire that's now spread to other homes. nbc 10's jesse gary live on the scene on south 4th street. what's happening now? >> chris, we've moved around the corner to get a better vantage point of a lot of the damage and the firefighting efforts on this side. looks like they're shooting water up into the rain gutter and roof area, trying to put the fire out. you can still see it burning on the top brick portion of the building. firefighters have also moved their effort

and rupert murdoch says he is done trying to buy time warner.l see what the collapse in the deal means for media consolidation. ♪ >> it is time for today's bloomberg big number -- $10 billion. that is how much nike paid --cer star run although rinaldo. he has signed on with another models facial fitness. the company says the product will keep your smile bright just like rinaldo's. it is 56 minutes past the hour, meaning bloomberg television is on the markets. equity futures are higher, and they have gone a little bit higher after jobless claims came in. a surprise decline down to below the 300,000 level for jobless claims. we are on the markets again in 30 minutes. also coming up, don't touch that dial. radio broadcaster cumulus media is in the midst of a transformation. we will ask the ceo how that is going. ♪ >> we are 30 minutes away from the opening bell. you are "in the loop." equity futures indicate stocks will open slightly higher. the labor market is getting stronger. the monthly initial jobless claims hit an 8.5 year low. saysresident m

that is rupert mourdock dropping his bid for time warner, the parent company for cnn.ss will join me next. for up to three years... and be covered? it means your odometer... is there to record... the memories. during the mercedes-benz certified pre-owned sales event now through september 2nd, you'll get complimentary pre-paid maintenance and may qualify for a two-month payment credit. only at your authorized mercedes-benz dealer. will you be a sound sleeper, or a mouth breather? a mouth breather! [ whimpers ] how do you sleep like that? well, put on a breathe right strip and shut your mouth. allergy medicines open your nose over time, but add a breathe right strip and pow! it instantly opens your nose up to 38% more. so you can breathe and do the one thing you want to do -- sleep. add breathe right to your allergy medicine. shut your mouth and sleep right. breathe right. so factors like diet can negatively impact good bacteria? even if you're healthy and active. phillips digestive health support is a duo-probiotic that helps supplement good bacteria found in two parts

i don't quite understand why rupert walked away so quickly. everybody was convinced he would play hard and try to close it. i don't think it's diversionary, but i'm baffled. >> legere said, lots of possibilities in this universe. waiting to hear, on today's earnings call, begins at noon. but back in may he discussed the possibility of a t-mobile bid. >> t-mobile is sprint, to make a decision on, we just can't compete in that process. they'd have a lot of synergy and there's logic to what, why they would want to go after t-mobile. looks like a tough regulatory hurdle based on what people have said. you could go broke betting or washington. if, in fact, sprint didn't proceed or denied, t-mobile would have strategic interest, yes. >> see if they make a move. fcc's tom wheeler says he thinks it's a good thing for them to abandon this that the fcc would have been busy with all the deals on the table. one group not happy about this, the bampgs. analysts banking in some of this revenue from the deals they don't get paid if the deals don't close. nove

it was rupert murdoch who forred to buy time warner $75 billion back in july. if you remember the time warner chief shut it down. >> after consulting with our financial and legal advisors, we determined it is not in the best interests of time warner or our shareholders to accept a proposal or pursue any discussions with fox. offer was rejected back in july. time warner was not even willing to engage on the proposal. said thereay, fox was not going to be a deal if it did not benefit the investors. but his rupert murdoch really walking away from this deal? >> i think he is frustrated. i think in some respects his reputation for being aggressive, which generally helps them when he is pursuing a deal worked against him because candidly, no one believed him or his advisers or believed he would be fiscally disciplined. it may be deal harder to do. time warner shares went up and message wasugh the fiscal discipline and we are not going to pay. the math did not work for him for a while. >> after fox said they were deal, fox -- the shares went up and time warner went do

remember rupert murdoch's deal, he pulled a lot of people market watchers thought he would raise his offer for time warner, instead he offered to buyback shares of 20th century fox, as we know rupert murdoch is founder of this company as well. and sprint -- it felt like all bets were off, then this week, a quiet, end of the summer week, a deal for intermune and then burger king and tim hortons, it is feeling like. >floodgates are open again. maa deals, there is a lot of money there in part by the way, chart that is what fed is pumped out so far, that money has not hit wall street. but it has cleaned up the banks, they start to give it to big corporations, we know that big corporations have been borrowing a lot of money as well, we have a lot working here. with respect to this big banks giving out money to corporations, and then there is of wall street, i know they are looking -- licking their chops, eager to make moves. the real-real deal, a couple of these mergeers that i noticed in last couple of years have seen the acquireing company go high higher. also a lot of these deals have

he has worked both forward for monarch and the boss a time warner -- both for rupert murdoch and the boss at time warner. we have spent the last couple of weeks getting everyone's reaction to fox's interest in time warner. what did you think? >> i am not surprised. obviously, mr. murdoch and news corp. are credibly aggressive. the thing that jumped out of me -- jumped out at me most of this word to go through and the thing that resonated most with me is the powerful -- just incredibly powerful executive team that would be part of this combined company. i would almost say it is akin to the murderess row on the 1927 yankees. think about the team in place between the news corp. side with mr. murdoch and chase carey and james murdoch and dinner rice -- peter rice and the executives on the the divisions and time warner side, i don't know if jeff would stay but he is an incredible executive. the folks at cnn, jeff zucker, if you were to stay, at turner, hbo, just unparalleled talent in that combined company. always of the question whether anybody stays. since we don't know how this is goin

who would doubt rupert murdoch?ked into the share price. >> they were thinking that he was getting money from other sources to launch a higher -- >> the second issue is not just that. he is throwing investors at fox of bone. they announced a $6 billion share buyback. >> manus has done his math. >> manus has done his math. he read one of the australian papers. >> it happens so rarely. >> it is -- >> it makes sense. forgive me. to earningsn ads per share by about 1% and 2.5% in 2016. one of the lines here is that murdoch is so risk-averse in terms of debt. he went through before, offering $85 a share and the ability to make it up to 100 dollars a share was going to take more than selling sky et al. you. it is the aversion to taking on pulled the reason he has the deal on the chain. his stock price was down. >> the share price movements -- >> i know it rallied. news, was up 11% on the after-hours trading. people liking the share buyback and liking the fact he has dropped the bid. unsurprisingly, share price was at $85.

believe it or not, rupert murdoch is commenting on this. with you a tweet from rupert murdoch -- calling the kettle black a little bit. >> you are making reference to the phone hacking scam. >> i am, we have these two options, the evil death star that is google or the wonderful and amazing religious google. what is the third option? >> the third option is no google. it is entirely possible that someone will come along with a better mousetrap. as desktop search goes way because the desktop is less of a primary contact for computing, someone else will come up with a better solution whether it will be people using facebook to find the world's information which is what the initial google goals were or something -- or somebody with something else. the pace of innovation lets people create companies out of this shell out of netscape and microsoft. that's where google came from. i remember hearing about google from kleiner perkins. they were on the board of exciton there was no google. there was yahoo! and excite and there were all the search engi

and did rupert murdoch buy thisa station? did they buy it?se everything you have a parade of political hacks coming on criticizing the ert mu democrats and the administration. if rupert murdoch bought the station, why don't you tell us?t >> that's not the case but mr. klein, you go ahead with your thoughts. >> i'm w not sure i fund questi. maybe you could summarize it for me. >> i think he was rehashing what was said previous and criticisms about this president by congress and others, particularly i guess relations with congress. that's my gathering. but go ahead. >> right. well, the clintons feel as i've described in this book "blood feud" that obama has not shown the political talent to even try to work with this congress. for instance, let's remember that when bill clinton was han president he had a republican revolution on his hands and that newt gingrich came in and essentially said that the president was irrelevant almost. came very close to saying that. and what did bill clinton do? bill clinton, rather than dig is and say well, i'm ju

rupert murdoch said that they were being resistant and the battle is over.k is up about 8%. time warner falling down. also in media news, disney is out with pretty strong revenue and earning figures for the latest quarter. what's interesting all segments of disney including its operating theme parks where they raised admission prices on all cylinder, might say something about the economy, many people use entertainment stocks as a barometer a one-two punch. we're not mickey mousing around. now enjoy that big gulp. a democrat is pushing a big tax on each spoonful of sugar in is sweetened drinks. connecticut congresswoman said we need it to help raise money to fight obesity. i think this is just another pull for our money. rick unger says it's the congresswoman's right and i'm wrong. >> it depends how the money is used. >> do you really think, really, that this will go for anti-obesity campaigns. >> no. i wouldn't use it for anti-obesity campaigns. >> that's what she wants to do. >> sin taxes don't stop the sin. if you like sugar, as doirks you're not going to

last year, rupert murdock was set to buy time-warner for $80 billion in stock. but today, fox decided to abandon its plans to create the media giant. most assume that murdock and company would come back with an even bigger offer, and apparently they didn't. fox said in a statement today, that time-warner management refused to engage in talks, and after the market closed, shares of time-warner fell nearly 11%, while fox surged more than 8 perfection. >>> coming up next, it's not as dramatic as brave heart. but scott's are determining whether to break away from england again. can scotland afford to go it alone? >> fans of the movie, brave heart, may remember what scotland won its independence, and scott's united with england to form great britain, formed of wales, england, ireland and scotland. now, the scott's are considering independence again. this time it will be decided not by aristocrats or on the battlefield, but at the ballot box if a referendum next month. 50% of scott's plan to vote no. a key concern is whether independent scotland could benefit economic