sky prices for sky and other media then use a bring us up to speed on what's going on between five and comcast and does the and and try to untangle that weird web for us well comcast of course finally just recently dropped out of the bidding for fox disney will be buying the assets of fox so that's clear and done for a lot of reasons comcast couldn't afford it after a while also they were afraid and so was rupert murdoch that it wouldn't pass the f.c.c. i should say antitrust muster here in the in the united states with the regulators so they wanted the disney deal they got that is in deal now the new jim here is sky sky is a pay per view content provider throughout europe five countries twenty five million subscribers and fox owns thirty nine percent of sky so does this go to acquire thirty nine percent of sky disney would like the rest of it comcast would like to buy sky comcast is probably going to get the sixty one percent that disney isn't going to get so they're going to have two companies that are going to have to work together or or here's a solution that's being bandied about

interest of sky.lly gives them immediate assets in terms of filling in one of their key franchises, marvel, all these things that create programming, and add to their other assets secondly gives them a core fox is the leading directv distributor in a country that's just starting to emerge in terms of its ability to afford high quality entertainment, including a distributor known as hot store. i think it is a great deal from disney's point of view is there a lot for them to do? absolutely, but i remember having a brief conversation with bob iger wherein he said i'm all in, this was before this started last february. >> worth noting that disney is -- >> go ahead, julia. >> i was going to say, worth noting disney has laid the ground work for integration. obviously the companies haven't been integrated yet, but disney has already reorganized the company with an international division, with a direct consumer division in this reorganization takes into account how the new fox assets fit into the company, and

i think what's going on now is sky's in play and both sides are trying to figure out how much sky isrth for them, the valuations of both sky and fox have gone up dramatically over the course of this bidding process and i think everyone's doing the math and trying to figure out if these higher valuations are worth it. go ahead. >> if rupert doesn't come back and i think was it you that asked him and lachlan, i think they're together, asked him, you know -- it sounded like this is it for the sky offer. if they didn't come back that would say to -- wasn't there a source quoted from comcast saying that they were less inclined now to try to go for all -- for the whole thing wasn't that part of a story that came out >> reporter: yes. i reported on this yesterday. rupert and lachlan when they walked in yesterday were very vague. they were not going to answer my question, but the question now is sort of will fox respond with a higher offer and what happens if comcast does get sky and what i'm hearing from a source close to the situation is that, just looking at the numbers and looking at thi

yellow is sky.ot any's assets but had we tackle the ongoing issue with -- disruption and in netflix? >> media companies themselves, hunters and the hunted, an interesting trend in the media industry and comcast and fox fits with this, almost saying as though certain companies have certain geographical influence. , deals withr areas classified states in the online area, they say you have this country and this asset, we will stick to hear. some of that will continue. thesex, do they lose to traditional company because the market cap is high but if you take cash figures for netflix, this gary. traditional media -- scary. there will be a lot of action in in the space over the next 18 months. caroline: thank you very much. ian whittaker, head of european media research at liberum capital. checking on european markets and where they are trading, a down day. suffering as donald trump ramps up trade talk concerns between the eu and u.s. next week, ftse 100 pretty much back. this is bloomberg. ♪ this isn't j

moves through, with that concession sky m oves a cross through, with that concession sky moves acrosss moves to disney's control whatever happens. you mention the surprising amount of money the rival bidders are prepared to pay for sky. it would seem in the short—term the real winners are the shareholders. what sort of profits could be looking at? they are huge winners, if you look at the share price before the bidding war started, before the bidding war started, before the bidding war started, it was £7 70, today's bid has taken it up to £14, so you are talking about very steep, almost doubling of shareholders money in a fairly short space of time. and look at the market price today, it is actually nearer to £15. that tells you that the market thinks there are still more bidding to come, that comcast will come back with a counter offer, and it will still be a fairly long road ahead i think but at the end of it there is a huge payday for sky shareholders. thank you very much. in other business news — oil prices have fallen — 0pec, the cartel of oil producing nations, issued a report t

ofwe know, fox on the part sky, comcast is interested in acquiring sky.fox, that would create an asset that would then be somewhat owned by comcast, if comcast actually won sky. jason: that was amazing. alix: did you follow that? jason: i was trying to draw it in my mind as you said that. alix: comcast stock is also up in free-market. there was a lot of conversation on this, that comcast did not have the balance sheet like disney did. and the other part of the story was comcast was ultimately trying to dig up the price, rays of the price to put the screws to bob iger a little bit. mike: this is obviously a distribution play, but also the content play. i think back to earlier in the week when we had results out of netflix, netflix plays into this, amazon plays into this. it is a new world of media companies, as well. it will be interesting to see, because we have the early market reaction, and it will be interesting to see how the commentary comes out. whether disney says anything on the record, or whether they talk to people behind the scenes. alix: to re

minus sky?is certainly that has been floated around, that sky and comcast could carve section.dia iger wantsow that sky, doesn't he? much he yes, but how wants to pay is getting too crazy care tory -- into crazy territory. mark: what a great story. , thank youty very much. vonnie: deutsche bank looking to rebuild its financing business. meeting with the heads of private equity firms. in our correspondent who covers deutsche. deutsche is looking around for something that will give it margins. >> for months now we have been hearing about deutsche retreating, so people are asking, what are they actually doing? what are they doing to turn around this business? we saw all boots on the ground. we saw the ceo in town a couple weeks ago meeting with major private equity firms, trying to drum up business. they expanded the use of the balance sheets from $12 billion to $16 billion. we are seeing them make a push into this business. vonnie: do they have a specialty? is there some reason you might choose de

team sky and dave b ra ilsfo rd french public.nch public. team sky and dave brailsford have always made much of their marginal gains, that is how they win races, but presumably it is harder and harder to make those marginal gains over their competitors. yes, but with their big budget they can try that all the time. a couple of years back they spent thousands of pounds working out if the way that a cyclist shave their legs, up or down the stroke, contributes to the aerodynamic effect. it turns out it didn't, but they always pushing the envelope, just trying to get that secret is tenth of a second here and there. does that mean that team sky is going to continue to dominate the tour de france, that british riders will continue to win it in the coming years? quite possibly. while chris froome fell short this year, he is still one win away from a record equalling fifth victory, so he will come back next year fully determined to get that if the win. and geraint thomas, as defending champion, he won't want to play second fiddle to chris

>> with enough cash, absolutely. >> what about sky? who ends up getting sky? >> well, i think that this is in some ways a game of three-dimensional chess and it is ultimately, you know, it's weird because everybody talks about saying who wins? >> it's not winning. who wants to bid more money for it who has a bigger appetite? who is willing to take on more debt to do it and constrain more balance sheet and i think there are still a couple of rounds to go. >> if you were a shareholder which deal would you be more likely to approve? >> i would take whichever one was higher >> the higher price. i'm not a very complex guy >> you have been in business with at&t for years and you know randall stevenson very well and you encouraged him to buy time warner now that the deal has finally closed now that the deal is closed and they're working on integrating these two companies are you concerned about a culture clash? >> no. first of all, if that deal looks really good given the context of the price of fox i think that looks like a remarkably va remarkably valuable deal and

disney to buy sky, they would love to let out of sky and let comcast buy the 3$3 stuff.he first assets we thought they were going to get which is a comcast studio and -- i think people are reacting to it's more expensive as an outcome, but the asset mix is a better asset mix for disney investors we have heard that for the last three or four days from people >> i think there is a potential likelihood they would choose to sell that 39%, although that is a price negotiation. and conversely, i have also been saying comcast might be selling hulu, would that be seen as a positive as well >> what did any also wants, sky also has a lot of disney's movie rights for the next few years, disney would like to have those rights back for their own service. our best outcome here for a disney shareholder would be a negotiated settlement, where you get hulu, cash, and some of those movie rights that are owned by sky across europe yes the price is a little bit higher, but if you were writing or reporting, that's a great outcome from where we were a couple of weeks ago. >> does this shut th

went higher for sky. but they don't know what comcast is going to do alternatively, comcast, i think, will come back with ahere bid for sky. does that mean they'll back off on fox >> sky was not up at $3.30 >> yeah. it has but, you know, you're getting into territory where many people say the evaluation is getting quite high consider they had a done deal at $10.75 now they're 40% above that there's something called the chain principle. the uk take over panel will be ruling on. you center to raise your bid by the sky assets by the same amount you raise your bid for fox itself they own 39% it gets complicated. there's a lot of game playing going on here. but my question regards the timeline and whether the belief of the comcast camp they can actually figure out sky in time for them to make a decision whether they want to move on and make a counter bid for the fox assets. >> yeah. >> we'll have more as we go on this morning. >> i heard there was more and there was less the fluidity is surprising. >> yeah. it

ses, sky trading up two point 8%. a 15 handle on sky. 15.36, trading to above the offer price on sky. the market is looking for more to come through. electrolux coming up after yesterday. ior.v bnp is under pressure. there is only one ex-dividend aock this morning, this being thursday. markets showing signs of stabilization in certain areas. see equity markets stabilizing overnight in asia. europe looks like it is stabilizing a little. at socgen joins us. yesterday was a tough day. equities came under pressure, , and i amashed lower trying to understand why. the trade narrative came back and the number was big, but it is not a real number yet because the president hasn't made it real. thenow, but it is development from 34 to 200 billion, 10 percent tariffs on $210 billion worth of imports is economichave a bigger hit on everyone. it would affect prices more. these are a bunch of consumer goods, so it will affect the american consumer, the chinese data. it will affect the way global output is designed in the way we think things. it is a b

we think is better than sky.broadband network in the u.k >> you met with brian roberts when you were here did you talk about him having him buy your company >> of course not i think there's only going to be one winner in this process between disney and comcast and whoever does it will be certainly geared up to do something else because they've made the decision growing internaeinte internationally or having more scale is important to them we've got a great organic business we're growing at 5% a year, building out networks that are the fastest in every country we operate in we're strategically complete in the u.k. so we're not thinking about exits but growth in germany we put $2 billion euros of equity in >> this huge deal with vodophone, what are you going dowit that capital >> it's a great question i will tell you that we are focused on just one thing and that is doing what we do well, which is buy, build and grow businesses sometimes exit those businesses at premium multiples we'll stay largely in our swim lane

the high sky prices for sky and other media then use bring us up to speed on what's going on between five and comcast and does the and and try to untangle that weird web for us well comcast of course finally just recently dropped out of the bidding

sky prices for sky and other media then use a bring us up to speed on what's going on between five and comcast and does the and and try to untangle that weird web for us well comcast of course finally just recently dropped out of the bidding for fox disney will be buying the assets of fox

instead, they will focus on winning control of sky. this gives disney the green light with their bid for entertainment properties of fox, including a 39% stake in sky. joining us is a research managing partner, jonathan chaplin, how does this now get out entangled? jonathan: i think the beginning of the untangling has started the battle for fox is over and done with, comcast is out, and this is something we had been anticipating for the last several months, saying there was no prospect of them winning fox, that they would likely show discipline and walk away, and focus their attention on sky. the last piece now to resolve is what happens with sky. comcastbeen saying that is in a strong position at the separate from fox and focus on skype and winning that -- sky and winning that. we see reports that disney may walk away with pushing the price higher on sky, which would be fantastic. sky goeshe biddings on higher, we think comcast is a fantastic value. vonnie: and july 27 is the david u.k. officials decide on -- that day u.k. officials d

. you are seeing this intense reading warfor sky.are seeing this intense reading war for sky. facebook has just been fined a little over 600,000 us dollars for the cambridge analytica scandal. the regulator says it is the social media giant failing to protect user information and one privacy group thinks these kinds of fines could get bigger in the future. i think what is significant here is not the amount, but the meaning of the fine. this is the watchdog showing that they have teeth, and that they are willing to use the maximum tools available to them. and what is more significant is that the goalposts have now shifted, and under the new law and the new data privacy law in the eu, gdpr, the finds a much increased, and it could be as much as 4% of annual turnover. it is one of many regulators in the eu which have been looking at facebook, and the issues raised are not just looking at facebook, and the issues raised are notjust looking at facebook, but they show more systemic problems with facebook, cambridge analytica, and a number

from paris at around current coach at team sky from paris ataround 7:10. current coach at team sky from

do we know what sky's thinking is right now?oment martin gilbert has been simply recommending the offer at the higher price trade yesterday recommending the fox offer. this morning recommending the comcast offer. mark: he's trying to get the most money. >> the question is does fox come back? it could just continue. mark: is there a carve up? is that the most probable outcome? someone gets one asset. maybe disney gets 21st century fox and comcast gets sky. they seem to want sky. >> that theory is gaining increasingly. disney ends up with most of the fox assets. either party taking on too much debt could happen. neither party has come out and said they would be happy with a carve up. public positions of both parties is we want fox and sky. mark: we have a bidding war. bloomberg media and telecom reporter. what a day it has been today. stocks rising. seventh day and eight for european benchmarks. trade concerns diminishing after yesterday's fears sent stocks down for two and half weeks. this is bloomberg. ♪ retail. under pressure l

rest of sky.is possible. i find it strange, they took the maher, they kevin carved out a new division for him. division, the key asset that would go into that, what seems to be the hallmark asset of that new division seems strange. hard to believe disney goes through this effort. >> we haven't mentioned time warner and at&t is merger. do you think that announcement has anything to do with comcast -- foxiving up the foss assets? >> the conspiracy theorist in me would be yes. it was getting a lot of traction. murdoch and the president like each other. murdoch wants to sell to disney. he has said a few times. trump wouldo which make it less likely, that makes likely, itss is a reach but it is possible. it has some credibility. comcast is keen to get a hold of sky. i would flip this back to rich. when disney does its deal it ends up earning 60% of hulu. asld disney use sky assets leverage to control all of hulu and have its own direct to consumer business? of questions and thereby taking the last one

comcast are interested in fox and sky.isney is interested in fox and more interested in fox owning sky. it's a very complicated dance with powerful figures all of whom are in the same room for the next few days. maybe they can go what water rafting or golfing this afternoon and come together on their differences. vonnie: why doesn't binder come in and take out sky, ed? ed: that's a good question, he could come in in do that, but i think there is an issue with him doing that, he would also have to take out the portion that fox still owns. i'm not sure whether the murdochs want to just exit and be left with a legacy news business in the u.s.. they are very clear that they want to be out of the news business in the u.s.. doing just the sky deal won't cut it for them. they want the whole thing and if they can acquire it through fox, that makes the fox assets that disney would ultimately end up owning more valuable and gives them a better egg that. lastly, he says to go write about something else, but what else are you writing

sky high bidding war. comcast increases its offer for sky for $34 billion. move is on murdoch and in.r ceo's settle first to our top story. china tones down its trade amid hints china and u.s. trade officials maybe talkg to figure out to again. additional tariffs could go into weeks.in a few is the biggest tech impact? >> it's semiconductors and telecom equipment. challenges for lot of tech companies, tech hardware is completely entwined with china. some of the subcomponents like metals, things that go into pieces way down the chain. so hard to extract that for all these companies. even though we haven't seen the tariffs on phones and typical products you be concerned with, those components are purchased by everybody. all hardware companies are taking a bit of a hit if these to kick in. >> we haven't fully figured out the impact of the trade tariff drama. we've been operating from an assembly standpoint in china for so long. been such an efficient gizmos. meet technology giz chip making industry expanded. made in the united states anymore. extricate yourself

they could drop out of fox and continue to pursue sky, but that means an awfully rich price for sky,he studio assets of fox to help sky with the transition to being primarily proprietary content company, so there's problems with that. or alternatively, there's the kind of the milk toast, we will satisfy our commitment to bid on sky but won't raise on sky, that sounds like dropping out of both. we'll see on friday i think. liz: of the three names, do you have one pick? >> well, look, i think sky has been -- fox has been the name to own. it's been the belle of the ball. liz: the 52-week chart is incredible. >> you are starting to see people rotate into comcast, ironically because they're betting comcast will lose, that's what they hope happens. >> at&t, we can put up your picks in the entire media space, but at&t already closed the deal with time warner. for all intents and purposes, can the department of justice appeal and somehow overturn this thing? >> in theory, yes. when they didn't specifically concede they weren't going to pursue an appeal, and so in order to go ahead and close

. $14.75 is the new accepted bid, at least one that's been recommended by the board of sky.ping that increased bid from disney and fox that was received and agreed upon, or at least recommended by the board yesterday at $14 where does all this leave all the different moving parts here? let me start sort of with this basic theme, or at least question, which is -- this is what i think people on both sides, the disney and comcast side are starting to really think about, which is, are the prices simply too high for both sky and fox now, for any of us to do both of them is it simply too much? too much debt, too high a price, too little return? think about it from disney's perspective right now as we told you yesterday. when we strip out the -- the reason they got such rapid approval from the department of justice, you sell those into the marketplace, you'll get a lesser multiple on those businesses that are not growing they do return a good deal of cash private equity may be there. we'll see who others are but it is a huge asset 40% of the ebitda be produced by those. you're goin

the high sky prices for sky and other media then use bring us up to speed on what's going on between five and comcast and does the and and try to untangle that weird web for us well comcast of course finally just recently dropped out of the bidding for fox disney will be buying the assets of fox so that's clear and done for a lot of reasons comcast couldn't afford it after a while also they were afraid and so was rupert murdoch that it wouldn't pass f.c.c. i should say antitrust muster here in the in the united states with the regulators so they wanted the disney deal they got the does it deal now the new g.m. here is sky sky is a pay per view content provider throughout europe five countries twenty five million subscribers and fox owns thirty nine percent of sky so does this go to acquire thirty nine percent of sky disney would like the rest of it comcast would like to buy sky comcast is probably going to get the sixty one percent that disney is in good to get so they're going to have two companies that are going to have to work together or or here's a solution that's being bandied

team sky didn't have to strike a deal, geraint was the natural leader in the best position. in controversy, it is fair to say, and also fair to say they are not popular with the french public. indeed! the french cycling public typically like the plucky underdogs, not the winners, not a team like team sky who have been so dominant over the past few years. since bradley wiggins won in 2012, only 2014 they did not win the tour de france. the budget, ithink, rankles with the french cycling public, their sports newspaper l‘equipe said that sky winning tour de france is like celebrating paris saint—germain beating a team of amateurs 8—0, it doesn't sit comfortably with the french public. team sky and dave brailsford have always made much of their marginal gains, that is how they win races, but presumably it is harder and harder to make those marginal gains over their competitors. yes, but with their big budget they can try that all the time. a couple of years back they spent thousands of pounds working out if the way that a cyclist shave their legs, up or down the stroke, contribu

>>> 21st century fox upping the bid for sky. president trump blasting our allies as he meets nato members in brussels. pfizer rolling back planned drug price hikes after being called out by the president and a true call where until you hear where one energy executive says where oil is headed. it's wednesday, july 11th, 2018. >>> good morning, welcome to "worldwide exchange. i'm courtney ragan brian sullivan is off today. it could be a tough day for your money. futures down pretty big after the trump administration upped the ante they indicated lower by more than 187 points at this hour the white house slapping plans on 10% of tariffs on chinese goods. the announcement comes from president trump meeting with nato leaders in belgium. eamon javers is live good morning, eamon. >> reporter: yeah, good morning, guys it's been very fiery here for the beginning of the nato sum 34i9 you're talking about the new chinese tariffs. take a look. 10% tariffs on $200 billion worth of chinese goods and that means it's going to undergo a two-mont

going after sky.be a big player in this. i think cbs. cbs and via come are trying to get back together. i think cbs -- someone else may become a bidder for cbs. charles: who is at the top of potential acquisition targets. >> i think's right. a merger between cbs and viacom is ill individuals. individuals -- is ill-advised. whoever has the best content wins. that's why the assets are so valuable. charles: a video game league. they sign a deal with disney and abc. it's a huge deal. i think the next big deal to fund content will be one of these video game makers. remember the movie rampage. offed at $114 million. it's just an incredible pipeline of potential deals. you can do tv shows off of these. >> the ceo happens to be there also in sun valley. charles: the overwatch folks. what do you think about that? there is not a lot of publicly traded names. >> i think the marriage between video games and movies makes a lot of sense. i am an older guy. i have trouble going a stadium to watch people play video g

up in the sky stargazing in the north of england. but we start off the show with the latest masterpiece by swiss architect mario batali now his singing team of art in seoul just to name a few red bricks are normally his trademark but he's gone in a different direction with one of his latest projects the furie restaurant in switzerland is perched some seventeen hundred meters on top of a mountain overlooking the valley below now of course we went there to check it out . and impressive can. function as an impressive altitude the fior a d.b.a. term stone flower is part of the last one thousand seven hundred meters the landmark crowns the monkey generals so in a swiss can talk to chino dion tightening restaurant with its kind of rhyming views was designed by mario bava the world renowned swiss architect was inspired by the form of the mountain. and the path in the meantime i wanted to do justice to two different sides of the mountain one of them which faces south is very pretty see a little the other is north facing it and it's craggy an

all things looking pretty rosy at sky.why it is the subject of a bidding war. has the bidding war helped momentum, raised awareness that sky is on the market? i think it probably has. they are —— there two big beasts in the room. fox and comcast. if you look at the sky share price at the moment, it is around 30p above the latest offer from comcast. that tells you the market expects there is a bit more action to be flushed out. we're probably expecting that from fox and disney rather than any third parties. thank you forjoining us. plenty more stories whenever you want them on the business live page online. on there right now, super thursday results round—up. including sky, shell, anglo—american and diageo. some of the firms announcing their results. you can also read more about the press conference and the talks between president trump and european commission president jean—claude juncker. a bit european commission president jean—claudejuncker. a bit more detail on the sky results as well. you're watching business live. ou

why does everyone want to get their hands on sky?a global arms race going on in the media world by the merger between disney and 21st century fox in the pipeline, and for distribution. people like netflix beginning to nibble away at home turf in places like the us so they need to get more global and quickly. in sky you have the number one european pay tv provider. germany, uk, italy, austria, ireland, spain... basically all the plate in one go, massive european distribution and that is precisely what comcast, what 2ist—century fox wa nt what comcast, what 2ist—century fox want and what disney want by its takeover. price becomes secondary to scale and that is why we are seeing that intense heat of war for sky. president trump will arrive in the uk around lunchtime today to begin what's being described as a working visit. that will include a black tie dinner with 150 business leaders hosted by theresa may, at an undisclosed location, with bosses of some big companies like unilever, glaxosmithkline and goldman sachs. but what will the m

uk: ministers have given their approval to rupert murdoch's bid to take control of the broadcaster sky his company, 21st century fox, has agreed to sell sky news to address concerns about his influence over the uk media. the us... between time warner and at&t. and it's the deadliest natural disasters since the 2011 tsunami. we find out how long it will take for japan to recover from the latest floods. good morning, asia. hello, world. it's friday, almost the weekend, glad you could join us for another action packed edition of asia business report, i'm rico hizon. it's a merger that could shake up the us media industry for yea rs shake up the us media industry for years to come. 0n talking about telecommunications giant at&t buying up telecommunications giant at&t buying up time warner for 80 billion us dollars, but the us government has decided to appeal this landmark court ruling. —— i'm talking. paul blake has been following this from new york. these are two of the biggest media companies and firms in the us. they just biggest media companies and firms in the us. theyjust got married

again, fox owns 39% of sky. this is for the remaining 61% of sky that fox doesn't own.t a bidding fight going on right now between comcast and fox for the remaining assets of sky. next up a presidential tweet making a major drug company pause in its tracks. drug company pfizer agreed just for now to temporarily postpone its scheduled drug price hikes. they could come still at the end of the year, they're postponing them for now here is the president saying just talked with the pfizer ceo and the hhs secretary on drug price blueprint. pfizer is rolling back price hikes, american patients won't have to pay more. we applaud pfizer for this let's bring in dr. marc siegel on this story. what was your reaction when you heard this? >> well first i was glad to see a presidential tweet with all of the criticism of it, here it is has a major impact on a drug company whose is shaking his finger at saying look you're only supposed to raise prices at once per year under the new idea less than 10%. this was more than 40 drugs and liz if i tell you the names you'll say i know these. t

up in the sky star gazing in the north of england. but we start off the show with the latest masterpiece by swiss architect mario batali now his signature works are scattered around the world and include san francisco's museum of modern art another art museum in the u.s. state of north carolina as well as the samsung museum of art in seoul just to name a few red bricks are normally his trademark but he's gone in a different direction with one of his latest projects the fury restaurant in switzerland is perched some seventeen hundred meters on top of a mountain overlooking the valley below now of course we went there to check it out . an impressive. function at an impressive altitude the fior a d.b.a. trap all stone flower is perched at a lofty one thousand seven hundred meters landmark crowns the monte general also in the swiss can time to change. the on tackling restaurant with its kind of rhyming views was designed by mario bava the world renowned swiss architect was inspired by the form of the mountain. in the past month i knew i w

the big league of sky fighting.xperience is priceless, and so if the memphis belle comes back this afternoon, they will be sent to bring the vital lessons that they have learned to men at home. home is america. this is a battle front unlike this or in other war. only the roaring engine sound of the bombers through the country side. this is an air front. >>> the wheels of the memphis belle leave the soil of england for the 25th time. friendly soil of england with its ordered farm and rural hamlets. estates surrounded by gardens and well kept parks. the england these americans knew only from classics they had to read in school. today their country side has changed. today their island has been convert into a gigantic bomber field. a super aircraft carrier anchored off the shores of europe with hangars and machine shocks. this is england in its fifth year of war. this is the new battle front, the air front from which we seek out the enemy. not the infantry or artillery but the greater menace. the industrial heart of the

has said take sky at all. continue to see potentially a bidder bidding war for the -- >> you wonder how much shares should run up yet because it's not over. >> we could also see whether if you ever do get to some kindof trade, we've always talked about where does hulu play in all of this. i would also make one small point. we said earlier on that for brian roberts and comcast and the parent company of this network, that it's hard to lose in that thus far to the extent -- i don't think this was the objective going in, but he effectively forced bob iger who intended to pay $23 a share for twenty-first century fox and got pushed to 38. as i said, i don't think that was necessarily comcast's objective. i think they did want to own the asset. there is a little bit a side benefit. >> either company could go -- if they both really want sky, that could go sky high because they definitely have enough money to take that much higher. >> and remember, for everything -- the end result on that would be that disney if it acq

. 61% trades nationally, 31% owned by sky the special committee at sky, 1475 offer disney and fox are14 the question has been will comcast walk away with sky while disney walks away with fox and will that be enough for both sides? i should point out that in an 8k filing on friday, disney added an idea that it had not initially included and it's worth revisiting it. it's 20th century fox may not electric elect to increase the cost which would require disney's consent it's the first evidence we have at least that disney perhaps may put the brakes on and say this is it, it doesn't necessarily mean that is the case, they will not make a public statement to that effect. because under uk takeover law, it would be bound to it. but it does certainly give that appearance our parent company comcast, up, 20th century fox shares down yet again. and really now you can start to back into a valuation that disney is looking at that will be the new fox, fox business and fox sports disney shares, for their part, also upper so slightly, but that's a trend that continues through next week. >> do you thin

sky map 7 technology shows us the roads shrouded by smoke.cause even though cornell bernard is on the ground it gives you an interesting vantage point how widespread it is. it spreads from knoxville roads to state highway 16 and country road 85 and 99 west. the fire started yesterday afternoon and has scorched 34 miles, we have a live report on abc 7 news at 6:00. >>> it's been a busy few days for staff at a hospital in texas. starting last thursday, 48 babies were delivered in 41 hours. talk about baby boom, right? no one's quite sure what's behind it. some at the hospital say it's a big full moon. whatever the case is, lots of congratulations to be had. >> i want to see what happened nine months ago. >> yeah it's a >>> tonight, several developing stories as we come on. the summer slam. extreme weather across the country. deadly flash floods in the heartland. the tornado threat. and the heat wave. more than 100 million americans sweltering, as we barrel toward the fourth of july. >>> the deadly tour boat explosion. ten americans on board. th

rich: i think the question for sky is fox, comcast -- a unique asset. yes, it is in the satellite television business, which is under pressure from the shift to the internet, but if you are looking to be a major player in europe with a lot of direct to consumer data and information on users all across europe, 22 million subscribers across europe, growing over the top strategy called now-tv, which has launched in the u.k. and in spain -- if you hear what disney is trying to do, and they want to go direct to consumer on a global business that basis, it is hard to imagine why they would let the sky asset go to comcast. comcast clearly wants it. the question is, disney already owns 39%, why would they give up on the single largest asset that they were trying to acquire as part of the fox transaction. it would really surprise me. i think there is still a bidding war to come over the next o couple weeks. vonnie: it would cost them dearly. every pound that is increased in terms of the sky offer, it adds about $16 million in interest a year, $1.5 billion in deb

and is sky an asset that comcast can make hay with?look at it a little bit from disney preventing, and does it make sense for disney to continue to bid aggressively -- or i should say give fox perms to bid for the sky asset given the superior bid now. >> i think it makes sense for disney to stand down, as i always have. the sky asset does not play to disney's strengths they're not truck rolls, satellite dishes or set top boxes or managing churn. this is in comcast's wheelhouse. comcast can create more value here and moreover, disney has really great outcome here from a financial point of view if it doesn't look to ainquire all of sky. it can basically now that the government required it to sell off the regional sports channels, and presuming it can sell the 39% of sky back to comcast, it could end up here with essentially no more leverage than it has today after completing the fox transaction and that's a great outcome for disney in terms of comcast, they need this asset more. it gets them out of the box of being a u.s.-only company. a

comcast and fox have been after sky, and disney would inherit sky from fox should fox succeed.isney and fox need to decide do they increase their bid for sky to take on comcast, which has the highest offer on the table for the british pay-tv company. guy: what are the scenarios here? let's assume comcast continues to be interested in sky. what we've got to remember is ofdoch has a decent chunk sky shares already. could that murdoch position become a minority position with comcast taking over the rest of the business? how would that work? i am wondering the various mechanisms that will work around and the implications of them. see thatyou could scenario and when comcast came in february and made the offer for sky, it was conditional on comcast getting that 51% majority stake. was comfortable with disney were fox owning the 39% stake fox still owns in sky and holding onto that. realistically, it is probably unlikely to see disney hold on to that stake and comcast probably would want full control of this distribution business to do what it likes with european business. customersbi

they will now focus on trying to get control of sky. disney's offer include a 39% stake in sky. joining us on the phone with the an analyst to discuss with us. trading on the biggest moves on the downside since december 2016. does that mean the tussle is over for that i said as well? -- asset as well? >> comcast shareholders spoke out loud and clear and they were not in favor of comcast buying fox assets. now, the scene has shifted to london with sky broadcasting and it looks like comcast is in the lead at the moment. they have driven the price of to 14 and three quarters pounds. that is almost a 90% increase from 12 months ago. and that is just the beginning of a battle, because disney wants sky very, very much. with foxwill end up entertainment assets owning 39%, and only have to bid for 61% to acquire sky. that is going to be a battle royale. sky shareholders are ecstatic because they can only win right now. the likely purchase price of sky 38-$40g to approach billion. more than half of what the fox entertainment assets are costing disney. vonnie: so what will be the strategy

we got bidding war for those assets, talking about, for sky, plc.put in a bid to buy all of it. if it buys all of it, and disney deals goes through, it transfers to disney. here is the fly in the ointment, comcast a lot of people are talking about, my sources likely to up the bid, try to essentially outbid fox for sky as part of its sort of grand plan to rebuild and buildout comcast. now here is the interesting thing. everybody believed that this conference that the deal for comcast, buying our assets engaging in a bidding war, for the assets going to disney, would occur right here. so this sky news thrown kind of a monkey wrench into that thinking. you remember, trish, a couple days ago i said disney bankers, disney is the other side who wants to buy assets, those bankers were doubting brian roberts would make a full-fledged bid for all of our assets. they thought he would focus on sky or maybe parts of fox. our stock went down 2%. i'm sorry i sent down our stock 2%, but that is what happened. if this comcast deal is accurate, that they're focusing

thomas team sky continues to fight off to his team's performance is just too convincing. stage thirteen was considerably flatter than previous days in the alps with the route favoring the sprinters four breakaway riders including switzerland's me share and belgium's thomas to get set the pace chair held the lead but with six kilometers remaining was gobbled up by the peloton. phillips you bear your own sin attack inside the final kilometer but the frenchman was caught with last in three hundred meters to go. is paid in saigon showed his strength and added to his victories on stages two and five winning this time by just half and we'll norway's alexander christophe took second ahead of france's i've no duma to slovak ryder was delighted with his win very happy the one today is very nice for me and thanks to all my team mates as they did again a very good job of team sky rider and aaron thomas held on to the overall leader's yellow jersey put sack on extends his lead in the green jersey points classification. on the german football federation known as the d f b s facing all

comcast said it will instead focus on its recommended offer for sky.rstin has more details. >>> the battle for fox is over sky on the other hand is still up in the air. comcast saying it does not inten to pursue further the acquisition of the 21st century fox assets instead it will focus on a recommended offer for sky. comcast currently is the highest bidder for sky with its $34 billion offer. while the door is open for disney to counter, right now comcast is on track to buy 61% of sky the question is whether disney elects to sell to comcast the 39% of sky that fox already owns, and whether bizny woudisnd try to buy from comcast the 30% stake in hulu it owns. for now disney is focused on fox. bob iger saying our enthusiasm for the acquisition and the value it will create continued to grow as we continue to note 21st century fox's stellar array of talent and assets we are pleased with today's news and our focus now is completing the regulatory process and moving towards integrating our business next up, a week from friday disney and fox shareholders vot

can't treat him the tajik government denies the accusations and say he's free to leave it any time sky gazers around the world are enjoying a thrilling celestial spectacle the longest bloodmoon eclipse of this century would show the moon turn a red brown color as it rose the entire transition loss for nearly two hours and it was visible from europe the middle east asia south america and africa. one of the best vantage points was in kenya were katherine sawyer joined in on the spectacle and mccarthy so it's a clear sky here in my god he and we are looking at the blood moon right now it's completely in the shadow of the quiet of beautiful sight and right next to it is a planet mars another ref a nominal happening right there. planet mars in the sun won't opposite sides of the arc a phenomenon that happens every fifteen to seventeen years but it's a moon that amazed move. along when you're reading this call me to used to see. you use a direct translation on the moon the moon the day the sun last day but i have come to realize that it is. and also the moon doing this in only you know not t

you never helped sir bradley wiggins or anyone at team sky to cheat? no. as a doctor were never compromised? never. you were never asked to compromise? never asked. i wouldn't have joined team sky unless they had taken that moral high ground. did they live up to it, though? are you sure about that? yes. wiggins has denied an allegation he was given a banned asthma drug, triamcinolone, at a race in 2011, insisting it was a legal decongestant, fluimicil. freeman was the man who took delivery of the mystery medicaljiffy bag. once and for all, on the record, what was in it? fluimicil nebules. freeman cannot prove that because his laptop containing patient data was stolen, but his medical record—keeping was also criticised by uk anti—doping. my travelling medical records were kept on a laptop which weren't backed up to my... i'm sorry about that. they should've been backed up, but they weren't. this year, wiggins denied an accusation by mps that he crossed an ethical line after freeman gave him triamcinolone for medical reasons before three major races. if you