martin sorrell and tim armstrong. what is happened is almost listed -- almost the theme of a wall street movie. erik: take a moment and go on bloomberg.com and read this piece by carmen reinhart. stephanie: it is really illustrative. erik: i am doing my best, folks. stephanie: this is so valuable. it is. we will be talking to carmen reinhart about it at 8:45. stephanie: greece has had deadlines before. european leaders gave a greek prime minister alexis tsipras, until midnight tonight. they want more spending cuts before agreeing to a bailout. greece will not get special treatment. >> we remain fully engaged in order to help find the solution that will be most conducive to our mission, to try to help with restoring stability, growth. stephanie: wieters can decide how to respond to the greek proposal. greece has extended capital controls through monday. in china, stocks bounced back after losing more than one third of their value in one month. the best marked shanghai composite index rose 5.8%. steve engle has the stor

but in reality, it was tim armstrong meeting with mcadam that did the verizon/aol deal many months latercurious what's the meeting that's the look over here meeting that people are missing out on right now. >> all of those bilaterals going 0 off to the side. the list of names is impressive with dorsey and zazlov and murdoch and malone. >> interesting to me, there doesn't seem to be people being freaked out by digittization. we admire what reed hastings is doing at netflix. we're trying to figure out how to learn from that. he looks petty relaxed. >> we're hearing from everybody they want to move upstream into higher quality produced content. for a lot of digital media companies they say okay, we can do these things and i for a lot of traditional company these say why can't we sell our content to a starz or a netflix. so people are seeing a different path forward than maybe they saw two or three years ago. >> when we come back keeping an eye on the markets, dow is up 181. some pullback in the last hour, but not a lot. we'll keep our eye on the nyse, when we come back. >>> european stocks

tim armstrong, a.o.l.'s c.e.o., announced he had to trim his employees' retirement benefits because of high health insurance costs, but who he blamed for those costs sparked a media frenzy. armstrong said quote: >> it was clear that he was talking about my kid. and friends of mine in the newsroom came through in the course of the day and they said, somewhat embarrassed, "he's talking about your kid, isn't he?" >> it sounded extremely dehumanizing, and it had no relation to the daughter who was in front of me. she had actually started taking her first steps just that week and that was a huge milestone for us, because of course every milestone brought so many new worries, where every time she achieved one milestone we should start to worry is she ever going to do the next one, you know, once she crawls is she ever going to cruise, if she cruises will she ever walk, and then she took her first steps and then this happened, and all of the trauma just kind of came rushing back to me. >> reporter: the couple felt

it's not just about me and tim armstrong, it's not about babies.ning society when we put price tags on children this way. >> everybody must heed it the idea that what is human worth and how that land nd thised in this moment. i'll also say as a parent at 3:00 in the morning, i couldn't put it down. i just curled up around my daughter. once you have a child that's vulnerable to the world, it's like a little part of yourself is out there. i'm so appreciative of this text. thank you, deanna fei and peter goodman. up next, using controversy as a backlash to victory. ♪ i built my business with passion. but i keep it growing by making every dollar count. that's why i have the spark cash card from capital one. i earn unlimited 2% cash back on everything i buy for my studio. ♪ and that unlimited 2% cash back from spark means thousands of dollars each year going back into my business... that's huge for my bottom line. what's in your wallet? when you're not confident your company's data is secure the possibility of a breach can quickly become the only thing

hi, julia. >> we're joined by tim armstrong armstrong. ceo of aol.'s sale to verizon was hatched last year. you've done this deal and you just told me off camera you're meeting with 70 companies while you're here. what are you pitching to them? >> sun valley does a tremendous job of having people come and having a week we can meet with different people. over the course of three or four days, my meetings break down to three big buckets. one is the software form and how we do sales and advertising. second bucket is really about partnerships in the contents base and things we can do with the content companies. and the third is really just people that have interesting business models or research or whether it's start-ups or large companies. and so i spend my time during the week meeting with those types of people. >> there are always deals that come out of here. what types of deals based on what you're hearing do you expect to see this year? >> there's been kind of a very well-worn path over the last years here. i think today you basically see a complete

martin sorrell and tim armstrong. this morning. let me get your attention -- disney is up over 30% the past year and then there is net. lex there are winners and losers in sun valley. paul sweeney was not invited, the director of north american research with bloomberg intelligence. if you are on this junket, what would be your first question to the assembled? >> we have seen the trim and this amount of consolidation on distribution of media and comcast trying to get time warner cable -- what about the content players? tom: we saw that and then it fell apart. >> i have no idea how it came apart. a lot of these content layers need to think about getting bigger and stronger relative to the distribution part of it. how do they play in the digital world? that is the number one issue. tom: this goes back to goodwill and bad will, if every headline says this deal is created immediately -- in your world can they say that if they are playing with hugely valued stocks and they need a ton of cash. >> if you look back to the earl

. >>> neil armstrong's iconic spacesuit getting a second life thanks to thousands of generous space lovers. ♪ ♪ ♪ it took timouse years to master the perfect lunge. but only one attempt to master depositing checks at chase atms. technology designed for you. so you can easily master the way you bank. it's no secret that california's historic drought is contributing to a raging wildfire season. >>> well certainly no secret that california's historic drought is contributing to a raging wildfire season. there are aerial drones operated by hobbyists and efforts are under way to update laws to keep pace with this growing threat. >> reporter: a dangerous new battle is unfolding high above the front line. >> trying to get this situated. >> reporter: against drones interfering with aircraft like at this california wildfire where frustrated dispatchers tried to navigate around five of them. >> can't do anything with it. >> reporter: for 26 crucial minutes with no air support, cars burned. >> we've got a drone south of the fire. >> reporter: flames crept closer to eight homes as a drone made it too dangerous to stay in