in the business news, rupert murdoch sells most of his business media empire. to disney is coming soon. carol: the murdoch family fortune is about to balloon. jason: our reporter tells us what to expect from rupert's next-generation. >> the question was whoever would take over rupert murdoch's empire? and looking at this, it is this great bit of a state planning. so rather than give the keys the -- keys to the empire to one of my children i will sell most of , it to disney and the that position them to build their own empires. once this deal with disney closes, and it's getting pretty close, they will have a huge amount of money to play with. carol: how much? >> about $12 billion will be coming out to the family. they will be pretty well-positioned. carroll: and there are three siblings? >> three siblings from his second marriage. much who people are keeping an eye on. it is kind of fascinating. from the start, he positioned locklin to take over what is fox.f 21st century it is still a third of the size of the previous company, but it will probably grow. he has

so you mentioned rupert murdoch. rupert wanted to build a company.ssion for what he has done. he almost lost his company when he was in school in england and his father died and they tried to take his family company. he remembered that. but he wanted to build something. ted turner wanted to build something. and so only you are interacting, craig mccaw, was in cable, radio, television. they were willing to do that all up for cellular. you wanted to find that individual who had passion for what they were doing. and if you believed in them, finding great people and backing them is obviously one of the great decisions. and so bringing capital to them, they might be low rated. and there were only 500 companies in america rated investment grade. so you can imagine, i am am coming to wall street. i have millions of companies. and everyone else is focused on 500. and those 500 don't create jobs. david: did you ever have somebody come to you if you did not finance them and they turned out to be successful later? did that ever happened, or? michael: i'm sure t

carol: this week, what rupert murdoch plans to do after they sell out to disney. jason: plans to create the world's largest home living operation the world has ever seen. carol: trouble building homes for low-income residents of new orleans. jason: we begin with a long reach of the last economic crash. joel weber joins us now. so much to dig into now. it has been 10 years. joel: we want to take all of your real estate dreams and anxieties and put them in one place and contain them for you. jason: the scope of this, how do you choose what stories to tell in this case? joel: you have to start with the long reach of the last crash. we are barely 10 years after that and we are still feeling the effects of that as peter writes in the opening essay. that is primarily a phenomenon that comes from the lack of homebuilding. a derth of inventory. that has pushed prices to a point that a lot of people cannot afford to actually get in the game. carol: from 10 years, we went from oversupply, which led to -- excesses, to here we are, undersupply. jason: the overhouse phenomenon

when they did, it was extremely damaging to rupert murdoch.t basically thwarted his event to buy the rest of sky. it had a real damage. the fact that jeff bezos is behind this helps this jump over the years and years it took for the phone hacking scandal to explode. this is now going to be front and center and going to be investigated very thoroughly and could be very damaging to ami, put also have political ramifications again for the white house and for anybody who is involved, a supporter of president trump, who tried to facilitate and make this happen. emily: bezos is trying to figure out just exactly how "the national enquirer" got his texts, these exquisite photographs. ami saying american media believes fervently that it are lawfully at the time of the recent allegations that it was in good faith negotiations to resolve all matters with him. the board has convened a determined it should promptly and thoroughly answer the claims. certainly of all of this is true, it cannot be mistaken as journalism. but it is also an interesting here, fo

carol: this week, what rupert murdoch plans to do after they sell out to disney.ans to create the world's largest home living operation the world has ever seen. carol: trouble building homes for low-income residents of new orleans.

in the business section, rupert murdoch failed most of his 21st century fox media empire. to disney will close soon. jason: the price tag is $71 billion. the murdoch family fortune is about to balloon. jason: we learn what to expect from rupert's next generation. >> the question was, who is going to take over for murdoch? i have to say, looking at this, it is a great escape plan. rather than give the keys of the empire to one of my children, i'm going to sell most of it to disney and i'm going to position them to build their own empires. once this deal with disney closes, it is getting pretty close, they're going to have a huge amount of money to play -- howrol: how much echo much? felix: about $12 billion. they will be pretty well-positioned. carol: three siblings. felix: three siblings from his second marriage. james and block land and elizabeth. that is who people are keeping an eye on. it is kind of fascinating. from the start, he positioned lochland to take over what is left of 41st century fox, which will now be called fox corporation. it is about a third of the size

carol: this week, what rupert murdoch plans to do after they sell out to disney.plans to create the world's largest home living operation the world has ever seen. carol: trouble building homes for low-income residents of new orleans. jason: we begin with a long reach of the last economic

barry: rupert murdoch amen, and at the same time -- came in, and at the same time, i had always beennterested in the idea of a fourth network, so again, sam typically -- sandip b -- so again, one suddenly, he was passing through los angeles, and i said to rupert, why don't you buy television stations and by a fourth network -- buy a fourth network? he was a gambler, with nothing to back it up, said yes. costd they are going to $200 million. he said that is ok. not more than one hour later, we shook hands with him. david: more building the fourth network, and people thought you were crazy, but you did it. and then you decide to leave? barry: i got to the point, 49, and i said i have certainly been successful, but none of this is mine. yours. nothing is ever i went to rupert, and i said i want to be a principal, and rupert said "there is only one principle in this company. that's reality." and i went away thinking, oh my god, what a terrible, harsh thing to be told. now, i have to actually either decide that i am going to act on it or not, so i left. david: you had been successful at e

i have just seen rupert murdoch and jerry hall going on, james gordon hasjust gone into the gig hereh the 0scars. queen are onstage, because bohemian rhapsody has been such a box office hit this year. will gompertz has been taking a look at the other films that are well nominated this year, and some of the issues that the oscars have experienced in the run—up to the 9ist experienced in the run—up to the 91st academy awards. the winner is cecil b demille... it's 1953 and the first televised 0scars ceremony, the annual awards presented by the academy of motion picture arts and sciences — which won't be winning any prizes for the way it has handled this year's tv show. i thank you. what with host kevin hart quitting after past homophobic tweets came to light. and then there was a botched attempt to create a best popular film category, followed by an ill—fated plan to bury the cinematography award in a tv ad break. added to which, viewers are switching off in their millions. i think that the academy took some ill—considered decisions this year, and i think that there will be a price to p

carol: this week, what rupert murdoch plans to do after they sell out to disney. to create the world's largest home living operation the world has ever seen.

> australia's most important export may be neither it's animals or beer or films, it could be rupert murdocho make another one. >> this was a big, bold bet. meantime, he will have to become an american citizen if he is to own tv stations here. something murdoch says he is willing to do. some people say it will take you 20 years to get your fox network on par with the big three. are you prepared to wait that long? >> sure. i intend to live that long but i don't believe in the 20 years. >> the reaction to murdoch's idea to a fourth network was similar to ted turner starting cnn. it's ridiculous. what does he know about television. >> there's no question we have inferior line-up of stations to our counterparts. >> they had an idea that order to succeed, we had to do things they would not do. >> fox started throwing anything against the wall not knowing what was going to go. first shows were things like 21 jump street. >> what are we looking for here. >> joan rivers in terms of late night. >> we have been banned in boston which is wonderful. and the tracy almond show. >> oh, please. >> it was a

carol: this week, what rupert murdoch's kids plan to do after the media mogul cashes out to disney.ans to create the world's largest home flipping operation the world has ever seen. carol: trouble building homes for low-income residents of new orle

what it points to is the power that rupert murdoch potentially has, because we don't know what would turned on donald trump? this would be like king kong versus godzilla. we don't know who would win that fight. i think kirsten may be right, that trump would win, but it's far from certain because fox news has a very devoted base of their own. so if they turned against them, that could actually imperil his presidency. and clearly he thinks that fox news has leverage because he is very, very eager to propitiate fox news. and that would be fascinating, what would happen if murdoch were actually to turn on him, which i don't necessarily think is going to happen. but if it did, fascinating thought experiment. what would the fallout be? >> max boot, thank you kirsten powell powers as well. i want to check in with chris and see what he's working on for cuomo primetime at the time of the hour. chris? >> we're taking a look at this national emergency declaration from the political perspective. we're going have a member from each side, a democrat who wants to stop it and a republican who thinks

and it's owned by rupert murdoch, take it what you will. here's their piece today about cohen and the coliseum, from the editorial board. this was a reminder americans elected a president who spent decades in the sleazier corners of new york business and tabloid life, associated with dreadful characters, has no great character himself. they go on to say, when picking a president, character must matter. >> yeah, sure. but i mean, i think for those of us who have a modicum of common sense, we know that donald trump has been below character since, you know, for the last 40 years. >> this is what i'm pressing you on. when people come on tv and say, i already knew it, that's good enough. that's more polarized division. what i'm saying is, does what we heard under oath potentially matter for some new people? why do we assume that everything's frozen in amber? >> i don't think so, ari. because look at how the republicans behaved. they were not moved. they doubled down. >> what about americans watching it? >> we saw representative meadows gaslight

have someone like rupert murdoch who does not see it coming -- now we have digital journalism.ow we have the internet. all part of storytelling. the current role of newspapers is still what it has always been, which is setting the news agenda. toy don't have the resources have somebody covering city hall, covering the pentagon, covering the state capital. they rely on what they read in newspapers. that's how they set the agenda, through this trickle-down. people who don't even subscribe to newspapers don't know that they are getting the newspapers news agenda when they turn on the radio or turn on the television because a lot of that comes out of what the newspapers are still doing. newspapers that can annd six months on investigative story, that can swarm people with a notebook and pen in a way that television and radio cannot do. fake news is real news for which the person has no response. in the old days, if you wrote a critical story and laid out the facts that the person you were writing about did not like, that person might brush you off with a no comment. now they say fa

i, you're asking me what is in the mind of the greatest business man of all time, rupert murdoch, okaysees cord-cutting coming as well. these were the most vulnerable properties. disney was looking to amass -- neil: same thinking didn't apply to the news or business? >> yes, yes. not yet. you know, listen -- neil: we're all about -- >> we all will be affected. my point, disney owns them, gets them, figures out it has to sell them because of espn issue. even though it is not a direct overlap. it is regional. espn is national. there issue they have to sell. real problem with disney is this i tell you, because comcast came in, remember comcast put in competing bid, a story we broke here on "cavuto." neil: you broke. i had nothing to do it. >> gave me the seat, thank you. in any event, because of that, it bid up the price that disney had to come back. so the fox rsns were valued at $20 billion. now they have to sell something they paid $20 billion for and they ain't going to get 20 billion. they will get something, if you throw in yes -- neil: other players could emerge? >> if there is bid

it's happened before, if you remember when rupert murdoch, the british paper was doing that to a cell phone. if i was jeff bezos i would find out how this happened. i'd want to know how it happened personally and professionally. he doesn't want to be subject to people sneaking around in his personal stuff and also his business stuff. i don't think it's the craziest thing to investigate this at all in any way. >> kara swisher, thank you for joining us today. we appreciate it. >> congratulations. >> it's so hard not to make puns. >> that's what twitter's for. >>> all eyes on capitol hill where the acting attorney general is preparing to face congress after a day of drama over whether he even would appear. nbc white house correspondent kristen welker with the latest on that. hey, kristen. good morning. >> reporter: good morning. we are getting our first look at what acting attorney general matthew whitaker is saying on capitol hill. there's the live shot there. in his opening remarks he defended his handling of the special counsel's russia investigation but said he won't discuss communic

once disney completes it $71 billion takeover of 21st century fox, billionaire rupert murdoch's familyed to be one of the biggest voices there. they may not be much of a force at disney. the family does not have -- on the board. shareholders and the u.s. environmental protection agency also appeared to be pleased by the company's proactive measures. pinterest reportedly confidentially filed for an ipo. they are seeking a valuation of at least $12 billion. last year, the company raised private funding that valued it around that level. it could list towards the end of june. that is the bloomberg business flash. nejra: thank you so much. let's turn to the presidential election in nigeria. officials are now scrambling to a short that the vote goes ahead tomorrow. rival parties are already questioning the vote. international crisis group's have said the rescheduling has imposed great costs on the country. paul whos now is covers africa for bloomberg news. give us a bit of color. paul: the delay was very dramatic. it happened in the middle of the just hoursturday before the voting was meant