it is part of time warner's cable unit.osition bleacher report as a viable alternative to facebook and google for marketers looking to reach young audiences. he will work on new advertising opportunities for brands like at&t, gatorade, and ford motor s motors august 14. coming up, competition in the augmented reality space is showing size of heating up. how blippar plans to carve out a space in the field. that is next. this is bloomberg. ♪ emily: a report we are watching. con score out with its monthly internet user data for 2017 june. pinterest continues to stall, highlighting the risk it may struggle to sustain user growth. amazon, pandora, and facebook continue to see visitor challenges in june. phone-based augmented reality is on track to become a major trend in coming years with tech titans launching their own new ar platforms. it is not his major tech giants making a play in the field. we are going to caroline hyde in london, who spoke with a longtime player in augmented reality. what have you got? caroline: thank you

still seene was at&t the time warner deal closing by the end of the year. for the second quarter adjusted earnings per share beating the highest estimate, $.79, analysts looking for $.74. line,e below estimates or 30.9 8 billion looking for 39.8 4 billion. at&t maintaining full-year guidance, so perhaps that maintenance or reiteration along with the statement that it sees the time warner deal closing by year end is helping to goes the stock by 2.4% in extended trading. let's bring in alex sherman to talk about at&t and its merger with time warner. be waiting for some kind of indication from regulators that they want to examine this further. what would have we heard so far and how is at&t proceeding with its plan? thatoomberg broke a story early discussions have begun between at&t and time warner and u.s. regulators. we don't know the details of those discussions yet. we know what we are looking for, which is due to regulators have any concerns with any of the assets as part of the deal, particularly cnn because of the political implications and the rhetoric

talkings have started to at&t and time warner about approval conditions. we will discuss.loomberg. ♪ these days families want to be connected 24/7. that's why at comcast we're continuing to make our services more reliable than ever. like technology that can update itself. an advanced fiber-network infrustructure. new, more reliable equipment for your home. and a new culture built around customer service. it all adds up to our most reliable network ever. one that keeps you connected to what matters most. alisa: i am alisa parenti and washington and you are watching "bloomberg technology." secretary says exiting the bloc does not mean the end of economic ties between britain and the european union. we spoke today to begin preliminary talks for a post-brexit trade deal with the u.s. >> this will not come at the expense of our european partners. britain was the e.u. to succeed. there will be no closing off of relations, economic or otherwise. and no abdication of our responsibilities. prime minister is criticizing the prime minister for his decision to veto bills. the e.u. has

when i was here two years ago the big talk was time warner. who would gobble up time warner.the play. as you know our boss, rupert murdoch was the first to put the bid in. that didn't work out. now it is being, now time warner is being courted by at&t which is a deal that could close in the next 60 days. at that conference that day i said time warner was in play. i will say this, talk to enough people here, they believe anybody with content right now is in play. disney is, is a content generator. they have espn. they have disney. you you know what they do. we should point out bob iger, ceo of disney is not here. here are some people who are here which had tongues wagging just a few moments ago. ivanka trump and jared kushner are going to be here. you might ask yourself, why would they make a late appearance here? the conference started today. we understand that they're flying here on their own dime. that is what the white house is telling us. they will be here probably tonight. they're flying here today. why would they do this? they're not really media players although jared

the time warner deal will get done this stock has a 5.5% dividend yield. it's going to be a little less now that the stock's up. to me, that's helping you compensate as you wait for this time warner deal to get approval over the next year to me you only have about 10% worst-case scenario downside so to me, this looks attractive at 37 bucks. >> let me ask, i'm kind of surprised to the upside, certainly on that subscriber number i would have thought with last week's news, that we would have seen -- it's a zero-sum game in terms of getting new subscribers, yet if everyone's getting new subscribers, is that really that many new subscribers to get some people have more than one phone? >> it sounds like a great conversation for the conference call i don't know miami telling you, they were expected to lose 22,000 and they gained 25,000 or something like that. there's something about their ability to bundle. >> we also don't know. to the -- if you look at john % levera ledger's side, it's up 14% down 8% or i reversed it, it's down 14% at&t and up 8% at t-mobile we

at&t and time warner are set to be an early talks with u.s.ntitrust officials for approval conditions. competitors and lawmakers have been pressuring the justice department to stop the $85 billion deal on grounds that it will lead to higher prices and fewer choices for consumers. another possible challenge -- the justice department has allowed new anti-trust truth -- chief. he awaits senate confirmation. -- web website when md m.d. has agreed to sell itself at $2.8 billion. that represents a 20% premium. 75 millionby 7 consumers a month. the macro event to watch this week -- the federal reserve rate decision. that is on wednesday. why the central bank's biggest challenge is not inflation but the balance sheet. this is bloomberg. ♪ vonnie: this is "bloomberg markets." i am vonnie quinn. jared kushner is going to be making a statement outside the white house in a little while. he has been speaking with members of the senate intelligence committee on ties to russia and meetings he had with russians during the campaign. we will bring that to you l

smith who helped break the details. >> this merger has gone into the next phase where at&t and time warner talking to lawyers at the justice department about approving this deal with conditions. there has been a lot of speculation about whether the deal can go through. president trump has criticized cnn and suggested he might use that as leverage to block the deal but what we are hearing is and the justice department at&t and time warner as other programmers are talking about ways that this deal could go through and there could be conditions attached to the deal that would prevent at&t from harming some of its rivals. mark: what amazes me is that doj lawyers are starting talks without their new boss being able to weigh in. >> that is another thing we are hearing right now, that premium channels, some of hbo's rivals are concerned about possibly using hbo to discriminate against other channels like showtime and stars so that is being considered right now. vonnie: it would seem like you would need to have an administrative position on that neutrality as well and we don't know where we are wi

time warner has the content. in a bid for it and, you know, became public. as you know, that deal did not work out. now they're merging with at&t. so what i'm essentially saying is that this is a deal maker's conference. >> what about the tech companies not only google but facebook has talked so much about getting more into tv. >> the content. listen, the late great investment banker jimmy lee, one of the last things, conversations we had, he died a couple of years ago tragically of a heart attack, great guy. one of the best bankers in the world. he told me that, you know, silicon valley tech is yerning for content. and there are all sorts of combining tech with distribution, whether it's online -- >> yeah. to some extent, some of these companies, for example, netflix can do it on their own, and then they have rights to movies. >> does netflix have a subscription? >> well, subscription based so paying them $10 a month or a little bit more now. >> they may go for more content too. so what i'm saying is this confer

. >> sure, there are different kinds of leaks, you bring up the att time-warner deal, time-warner ownseing bought by at&t and this is a deal that's being reviewed by the -- i suppose in order to get cnn to try not to be so skeptical of the administration. what was your reaction to the times story? >> that's not how america works, you don't get to threaten the press or bully the press by using your power in office to perfect what they do. >> it sounds like you do believe the report. >> i believe it was put out there not because the antitrust department will not allow it to go through, but this was just a chilling effect. this is the same as when the president tweeted out that he had tapes of james comey. this was to make james comey think twice about testifying. >> trump might try to threaten at & t/time-warner deal. >> i think the intent is to make the media think twice, the white house may use its power over the business side of media or just the access that it gives to me, if they don't get coverage that they like, again, that's not america, that's taken us to a place we have never b

of cbs, despite cbs is always in the rumor mill teaming up with a major distribution outfit like time warnermething like time warrer, cbs was rumored to be in that mix before the at&t deal was announced, les moonves tells fox business it ain't happening. it is not soon. not looking at any major acquisitions, he sees cbs as independent entity going forward. that is pretty interesting given the climate out there, where you have a trump administration, seen as net positive to doing deals unlike the obama administration, which is whyless actually told us he sees the at&t deal and the, at&t time warner deal getting through the regulatory hoops, despite what donald trump said during the campaign. thought it was too much concentration of power in one entity. not a big fan of cnn, subsidiary time warner as you know. les moonves sees, says the deal will go through primarily because of people he appointed in that's various departments. fcc, justice department. i don't think ivanka and jared making much news other than they are here. you know, this is, i think everybody is going to be breaking in about

no, time warner. joey was the c.e.o. >> rose: the interesting thing is how soon you recognized rap and the possibilities of rap. early, late? >> no, i i was a rock and roll guy. >> rose: right. so i heard a lot of rap records. the first thing i was into was public enemy opened up for u2. i didn't like the sound of the records. so dre came into my office with john mcclain. >> rose: dre and who is this. suge knight. i didn't like the way hip-hop was sounding at that point. this guy's record counted unique and powerful -- sounded unique and as powerful as pink floyd. i said, who engineered this for you? he said, i did. i said, who produced it? i said, i did. i said, this guy will define interscope. i felt it that moment. i learned from hip-hop with those -- i learned hip-hop from those guys. i'm not rick ruben but i can learn. >> rose: rick ruben is one of the great record producers of all time. >> he started in hip-hop and then broke into rock and roll. these guys were in the early days. what i saw whic

given what's happen to the big media stocks, time warner versus disney, it seems as if they locked innumber. >> seems they did a good job the performance of some of their cable networks and ability to sustain audience in the face of cord cut it will be interesting. what they're paying for some of the rights for their programming, tnt, you know, at&t, doesn't always do the best job of buying assets very low but they do a good job integrating them and presenting a good face to the world >> sure. >> very big home for time warner as well. >> you see the emmy noms 111 for hbo. 91 for netflix which had zero five years ago and the book value of netflix's net content assets which combined $11 billion is more than amc, discovery, viacom. i think combined >> netflix keeps adding heavily to that every year just with the new production >> the numbers still stagger me. we talk -- i mention them almost every day. 6 billion amortized spending on content. $8.5 billion spending on content from netflix puts everybody else away not even close amazon is second and they're about $3 billion behind. >> amaz

some of the comment about cnn which is subsidiary of time warner. there you have it.t think ivanka and jared are making much noise here other than having a good time. by the way i saw ivanka coming in this morning eating my breakfast. melissa: careful. >> she was walking in with ken langone, cofounder of home depot. connell: okay. >> i wanted to eat breakfast. connell: bacon and eggs -- we go to blake burman, reporter hes to back we learn something, with you never a dull moment. melissa: there is snake behind you, charlie, watch out. rattlesnake right behind you. >> i break news and get attacked by rattlesnakes an bees. connell: thanks, man. apparently we have to move on for breaking news. talk to you -- >> overly, overly -- melissa: that's what happens when you send a city boy out to the country. fox is learning that former national security advisor susan rice is likely to appear in front of the senate intelligence committee next week. we'll update you with any developments. should be interesting. connell: yes it should. picking up the tab, one woman did paid the bil

now, with the pending acquisition of time warner raising questions, folks here including discovery ceolked to us about the fact they think more consolidation is inevitable between cable, broad band and phone and that these companies will look to differentiation themselves so we'll have to see what else before this conference wraps up tomorrow back to you. >> thank you so much let's trade this there's a lot there to unpack here i don't know what you want to go >> it's interesting, what's the price. if warren buffett were to take a stake in this, is it $6? of course, it could be a very low price. he was at 3.5, 4 bucks, so he's got wiggle room here i understand the malone structure, but it also allows sprint, to take his eye off, walk away from a special situation and focus on this. maybe it gets him out of a certain percentage of shares wa warren can come in at a lower price. >> i think your point on what the prices is really important because warren buffett being call into this means he's going to get a deal. if you're home saying i should buy sprint because warren buffett brought in,

when it comes to a merger like at&t-time warner, or sinclair broadcasting and the tribune stations, what is your general philosophy? >> i think that the current leadership has made clear that they don't think they have a role. i disagree. this is an $86 billion merger that will influence everything just about in the communications space. for us to sit on the sidelines and not even use what i think is authority that we do have, to look at something that would dramatically change the communications ecosystem, i think that's pretty sad. proposed, there is no paperwork in front of us. that has that type of influence, that type of depth in terms of the communication space, i think it is always something that we should review. the fact that we are not even thinking about it is troublesome. >> in terms of the communication would you agree on the att time warner with president trump too much power in it too few hands? >> i have always been concerned about consolidation for consolidation's say. if any transaction, i've approved of merges and other transactions, if they meet our checklist in terms

review, the fact we're not think about it is troublesome to me. >> host: would you agree with at&t time warner, like president trump, too much power in too few hand? >> i've been concerned about consolidation for consolidation sake. if any transaction, i approved of mergers in other transactions, if they meet our checklist so to speak in terms of dressing and improving the communications space, you know, insuring that individuals will have more options and more competition and more, more say so, then i will be for that. but if it just consolidation, making, bigger and better for synergies only benefit shareholders, that is problematic to me. >> host: that merger kind of brings up a couple things we've been talking about. living in a hybrid world, silos, regulating in silos that you have spoken of. this is provider who is also, providing video but also, you know, supplying it. so -- >> guest: what does that mean for smaller players? what does that mean for those who are really content dependent? would that create some type of disparity or, an issue in terms of market share, again when it comes

when you have the president just this week threatening to derail the att -- dsh the time warner dealecause he doesn't like the presses knch o kwonch from krn krn that is exactly the type of thing that needs to be reined in and the office of government ethics has a critical role in dealing with conflicts of interest. but if the administration doesn't want to take ethics seriously it's a very difficult job for wamter and others in his position. i'm not surprised to see him go. >> you negligenced that i want to get to that i'm glad you brought up the issue around the merger. but before we do. we talked about the approach to ethics by the white house. he o i consulted you for your expertise about this at the time process we put in a freedom of information request to look into his dealings with the in white house. and which could be boring. but instead this is what we found a message of him hitting the panic button emailing eye i'm not sure whether you're aware that announcing this cabinet without coordinating with the office of ethics is unprecedented appear creates unnecessary risk and

, i know you won't climate comment on specific murders but when it comes to a merger like at&t, time warner or sinclair broadcasting stations what is your general philosophy. >> on one of those, if you know, the current leadership has made clear that they don't think they have a role. i disagree. this is an $86 billion merger that will influence everything just about in the communications space for us to sit on the sidelines and not even use what i think is the authority that we do have to look at something that would dramatically change the communications ecosystem. i think it's pretty sad. the other merger proposed, there is no paperwork in front of us but a transaction that has that type of influence that has that type of depth in terms of communications space, i think should be always be something that we review and the fact that were not thinking about it is troublesome to me. >> would you agree on the att time warner with president trump that too much power into the hands postmarked. >> what i will say is that i have always been concerned about consolidation for consolidation take. i

call, at the end of the q and a, in an answer to a question about how time warner might fit into theundle, cfo john steffen said with regard to hbo, customers like it. customers like the opportunity to have that with their phone. so we're just trying to pro-feed what the customers want. that answer was super revealing, because he wasn't even asked about hbo specifically the question was about time warner as a whole. but that wis why directv works s well with them "game of throwns" meet nfl sunday ticket. no wonder people are buying at&t, with its awesome cash flow, much better than i thought and a growth ticker to boot. what is not to like? this stock, letter "t" is still very much a buy, even here how about the phenomena that is amd? we've been recommending them for a little over a year the stock was always just too dangerous to buy why? because every time the darn thing got you going, got some good, you had to wonrry if the company was going to run out of cur cash but the ceo took care of this. what's drive thing resurgence? a lot comes down to gaming amd makes some of the best gra

-- at&t and time warner merger? mr. pai: no one has asked anything of me on any kind of pending transactions. senator blumenthal: those types of contacts would be improper and illegal, is that correct? mr. pai: i would say as a leader of an independent agency it's our goal to be an independent actor reviewing the facts as we see them, not how others see them. senator blumenthal: i have been alarmed by reports and i've written to the nominee by the trump administration for his attorney for antitrust expressing my concern about those reports that indicated that the white house might try to use the merger as a way to impede or intimidate the exercise of the first amendment rights and you would be troubled as well i would assume? mr. pai: senator, absolutely. as i suggested to you yesterday, i'm an antitrust lawyer by training. i look at the facts in the law and i don't allow extraneous political considerations to intrude on that inquiry. senator blumenthal: thank you. are you familiar with the lawsuit brought by state

time warner was definitely in play. i did not know who was going to buy them. you can almost say that about disney. can content survived by itself. and what is that distribution going to do. will it be traditional cable. or is it something different. that the great investment banker once told me. don't be surprised if you see google and apple getting into buying content. they have a different way of distribution. that's a what people are talking about. little had a real agenda other than to get away from what is going on in washington. would have to replay replace the donald junior stuff. it's there. they also want from what i understand to have some interaction with the business community. people are talking about it. will they press their case with vodka and jared. donald trump has been very negative on the deal. at least publicly even if. >> how do you always get the story. you promised to join my triathlon team next year. >> is it next year we can always revisit the topic next year. it will compete in the new york city triathlon to raise funds for a cause d

with rival at&t buying time warner verizon could be interested in a content company that's one of theat's being discussed as a potential player in that mna space. kelly, back over to you. >> i am so curious to see thousand turn ut os, julia, thank you. joule kbra in idaho. >>> should we expect a pick-up in media mergers or should the slowdown continue? welcome, gentlemen, tom, what do you expect to happen here in the near term if anything? >> well, expect continued consolidation among the cable operators because, the economy is a scale with consolidation really drived down the cost of programming. remember programming 40% of the costs. so you can lower that cost by getting bigger conversely on the programmers side, we don't expect that there's no real economies of scale for programmers. it doesn't say costs tloesz make a movie if you're bigger >> so, tom, when you say cable consolidation. how will the regulatory environment permit that? >> well, the fcc certainly has taken a lighter touch on cable mna, and that's going to continue couple private cable operators out there that i think

be an early source with approval for its $85 billion takeover from time warner.e focusing on whether at&t can promise not to use its way to give an unfair advantage to its own program. that is the latest bloomberg business flash. european equities, four minutes away from the end of the monday session. this is bloomberg. ♪ these days families want to be connected 24/7. that's why at comcast we're continuing to make our services more reliable than ever. like technology that can update itself. an advanced fiber-network infrustructure. new, more reliable equipment for your home. and a new culture built around customer service. it all adds up to our most reliable network ever. one that keeps you connected to what matters most. mark: let's take you through the action. two industry groups rising. banks, construction, autos worth mentioning. the european union and germany -- german authorities. they are exploring collusion among producers. the german auto industry faces another major scandal following that diesel emissions scandal that engulfed volkswagen. the stoxx 600

also, time warner was in play, cbs, and there is a notion that maybe cbs is teaming up with time warner that is not happening. that is being merged with at&t. we actually -- brian actually asked moonves about the deal and he said he believes that deal despite everything from president trump during the campaign that he didn't like the time warner deal because it was too much distribution and his animus at cnn for a lot of reasons. moonves tells us he thinks a look at the regulatory approval in the trunk battle with cnn will not impact the regulatory review. he thinks it's basically the professionals are in place and the justice department antitrust division in the sec check the boxes. he said it's going to have been. there it is. standalone at least for now he thinks at&t time warner is going to happen. back to you, neil. neil: the reception jared kushner is getting with ivanka, i know there is a split. some like trump, others don't. they like the tax cuts, but it falls differently. what kind of reception are they going to have? >> listen, i think they would get a good reception. this is

we have at&t and time warner. at&t is lower.for time warner looks like it can be making progress. withypically see this acquired lower and target shares moving up higher and progress being made here with u.s. antitrust officials. we have some other merger news that is not so good. money gram and alibaba. see -- here you see the u.s. taking a little bit of an upper stance. alibaba not going through as much for money gram. a little more scrutiny for some of these chinese companies. finally, you and i talked a lot about the retail sector. it looks like it might be filtering into be sorting goods -- in the sporting goods sector. almost 32% today. down the most in over 18 years. the company said it is facing very challenging trends and it could see a 10% drop in comparable sales in the second quarter. like in the sporting goods athletic wear, it is driving down and having some effects on the other big companies like dick's sporting goods and foot locker. perhaps some concerns from the retail start to make their way into this wording

. ♪ emily: at&t is dialing up organizational changes following its $85 billion acquisition of time warnerle familiar with the matter say stephenson will oversee a pair of c.e.o.'s who will independently manage the businesses. it has been a volatile week for bitcoin, on track for its biggest weekly decline since march. the frenzy to get into cryptocurrencies continues and dominated discussions in london. the annual conference wrapped up today. caroline hyde sat down with a key investor in the space. tell us what you got. caroline: thank you. i got a chance to sit down with rob moffat, partner at the largest series a focused company. it announced a $66 million funding round this week to help expand geographically but also push into cryptocurrencies. before delving into the world of blockchain, i started by asking where he was finding opportunities to invest. take a listen. >> we have seen a lot of activity around lending. the first peer-to-peer lender. that was the first area we feel is great growth. the second is around reforms of doing digital banking. $66 billion raised this week. they d

after they reported their earnings, their market cap surged past the total market cap of all of time warnerat is a very strong vote of confidence on the market in terms of what this company can do long-term. i am not saying the momentum is going to slow in terms of execution, which is superb, but i think the price is extremely high. emily: they are spending billions on original content. it remains to be seen how that will pay off. let's pivot to google and facebook, dominating the ad market, online ad market more than ever. where do you see chink in the armor? david: i do not know if it is fortunate for unfortunate. i don't see a lot of chinks in the armor for either company. i don't think snap is a serious enough problem for facebook investors. google's dominance globally continues to be consolidated. in the case of google, the fact they have had to pay a $2.7 billion fine in europe because of their practices in terms of how they pointed traffic to their own products is worrisome. that is going to hit their earnings this quarter. it will not have a hugely negative impact because they are s

don't be surprised if you see ahead of time warner here.'t know if randall is here come the ceo of at&t. that's one of the big mergers. there may be some back-and-forth. that. that is some of the stuff that goes on here. one deal that won't happen is essentially the verizon buying disney deal that was rumored in the press. we got exclusively from the verizon ceo, not going to happen, told my producer earlier , no way, no how will the ceo of verizon told brian schwartz, not going to happen. there's going to be some stuff tomorrow. we will be here all day as long as i don't get bit by a rattlesnake. i'll be alive for drive the conference. remember, two years ago i got thrown out. liz: we don't want you to run out. we want to save them back home. they love you, charlie. come back soon. coming up come in tonight's focus on the progressive mayhem across america continues. we will tell you that the media is now covering. up next, the state of new york, new york city police turning their backs on democratic mayor bill defazio yesterday's funeral f

attorney general to block at&t from buying time warner they say the $85 billion deal would lead to higher prices and slower innovation and could have problems given president trump's frequent attacks to time warner cnn. and some of the most influential media and tech executives at the meeting in sun idaho. ceo say they expect new consolidation as companies face pressure from streaming services >> reporter: here at the conference, media giants are sitting down with the ceos of the biggest tech companies such as amazon and they are all chasing viewers. we sat down with one of the ceos of cbs and he told us that despite the rise of streaming video, his content business is thriving both the traditional side with a stronger market than expected and digit allally >> we're in a strong position, we're getting top first comp dollars from everybody, we're able to sell our content all over the place we look at ourselves as a multiplatform kept compacontenty the fact that we would add more content if the right deal was available, we would look at it, but frankly we're playing a very good can hand. we

will >> from one battle to another, president trump's hatred for cnn could throw a wrench in the time warnereal. in an article, "the new york times" reporting growing tensions between president trump and cnn could put the $85 billion deal in jeopardy the piece calling trump's disdain for cnn a wild card as the justice department mulls the merger this comes as david "faber report"ed today could close within 60 days >> this is unprecedented in term of the plitization of our media in this country and it's frankly very scary, except for the fact that i think you have to give people the ability to see through what part of the media and both sides, i think there's a clear case to be made for somebody overreaching. tink real issues is that they traded to levels on valuations that historically significantly higher because people are expecting them to move into higher territory immediate yarks con tenlt tent et scetera part of the reason why at&t and verizon, they killed each other wireless and broad ban that's the biggest problem for these stocks now this deal i think will go through. >> it should b

that guy predicted at&t time warner i was looking back to my notes jim. that's months ago. would it ever happen he puts a 65% chance on it. >> could he have done the same thing with t-mobile. >> yeah, verizon is challenged in a lot of different ways at&t the earnings the stock s'up. >> it's a good quarter. >> it was a good quarter. >> while we're talk about this. >> did you see at one point he said that people want game of thrones on their hand held maybe the more visionary than i thought. >> the bundling does seem to be working. churn was low and directv now added 152,000 subs which is offsetting the declines at directv itself. >> there say belief that bundling is helping reduce churn which is a basic idea there. >> it was okay take a look at what we have done it made me feel good about time warner i see what they have got going they're about getting subs from others using intellectual property as opposed to magenta they want to create stickiness with the things they can offer you from a certain extent. nobody is talk about walling off hbo. back to comcast verizon, we'll s

time warner is -- cnn is owned by time warner.t, given its distribution. that's going to be talked a lot about here. disney. a lot of people talk about disney being in play, you know, because they have so much content and someone's going to buy them like a verizon. these are the types of stores that i'm going to try to break, and i'm going to give it to you guys. brian: i think you're going to get tossed. ainsley: thank you, charlie. coming up next on the run down, it's considered one of the president's best speeches yet. but the left called that poland speech divisive. so what is wrong with championing western leadership? steve: good question. g new cars. you're smart. you already knew that. but it's also great for finding the perfect used car. you'll see what a fair price is, and you can connect with a truecar certified dealer. now you're even smarter. this is truecar. being. >> good morning, everybody, i'm bill. who will be the next james comey? we will meet the man who was picked by the president to lead the fbi. this amid que

business, but i'm always skeptical. >> there's a lot of talk about what deals will follow at&t time warner, what rivals verizon might look to buy in the content space to keep up the ce oh, shot down the idea that verizon is interested in merging with disney. speaking of last minute, tomorrow, i'll be sitting down with him in an exclusive interview at 9:45 a.m. eastern on "squawk on the street." >> look forward to that. julia in sun valley, idaho lowell says no to disney that keeps your disney netflix alive. >> crazy i think verizon is going to have to move on disney. there's a lot of vul ner bability here. you think about disney, espn, from a content standpoint then the catalog that they have on the movie side of the studio side this is made for an over the top sort of service. i get why verizon loves this deal but why does disney do this deal doesn't have to go anything. disney could control their own future over the top. thaifr getting involved in hulu, other digital streaming. espn is not going to go quietly here i go back to i'm comfortable with disney's evaluation that's what should b

aole: when we merged with time warner. i took a backseat. company daythe today, that hasn't worked well. the idea made sense for the execution didn't. visionsdison said execution, hallucinations. it was frustrating for everyone involved. i have this passion for this idea of these companies and what together they could do but we couldn't get out of our own way. eventually i decided to step aside and leave the board. that is when i went back in the garage and started backing the next generation want to renew her's. in with the government doesn't have any single mechanism to address the internet of things are the challenges it is presenting. have,ot of the concerns i i added a new chapter, a seven part agenda where i called the restart agenda to make sure they can be the third wave to read i don't think there is an appreciation of some challenges and opportunities that present themselves in the third wave. approacha fragmented to regulation that might have worked in the past. integratedrequires systems approach. because some of the things that

>> they might have. >> joke. >> didn't want to actually, i mentioned time warner in passing right nowi did want to get to it more specifically stock is down a bit this morning. there is a new york times story about the challenges facing cnn. not challenges but the continued dispute between cnn and the president of the united states in which they make brief mention of something we have talked about many time which is is could that deal despite the fact that it does not appear in anyway to violate anti-trust law be stopped or try to be stopped as a result of the president's for cn, this after speaking to a number of people close to this deal they expect it's going to close as soon as the next 60 days so you could see -- and at this point there is no expectation, none -- now we don't know. we have talked about this so many times, would it be a possibility. you saw the latest tweets. only in the last week and then the wrestling and all but the expectation is this deal is going to be done and could be done frankly sooner than some people had thought now time warner stock price has been mov

as for the future of at&t, its pending acquisition of time warner, randall stevenson says the deal is on track to close by year end. for nightly business report, i'm jul julia borstyn in los angeles. >>> in an attempt to diversify his product amid falling sales. michael kors says the company will gain greater exposure to foreign markets. shares of michael coors were flat on the day at 34.93. an activist investor is pushing barnes and noble to sell. they could be a buying opportunity for a media company searching for a retail presence. barnes & noble could attract bids of $12 a share, in a deal that would take the company private. shares surged almost 17% to 8:30. eli lilly posted a rise for the year. much of the quarter's strength came from new medicines. >> new products were a little over a billion in the quarter. that led 8%, too line growth, held expenses flat. and 34% reported growth on the bottom line. >> eli lilly shares were off 3% to 82.19. the data storage company said inconsistent demand for its products caused sales to slip more than expected. it wasn't enough to convince w

>> guest: will immerse with time warner. i stepped aside as ceo after leaving aol for more than a decade i took a more backseat them being on the board and chair of the company but not running the company day today. it's been well reported that it didn't work so well. the idea of the merger made sense but the execution didn't. i've quoted this from a century ago, vision and execution is hallucination. the idea was good but the execution was not. it was frustrating for everybody involved. certainly for me because i had this passion for 90 of these companies and what they could do. but we cannot get out of our own way. eventually i decided to step aside and that's when i started revolution and went back in the garage and started back in the next generation. >> host: less close with darren samuelson and political that you quote in your book. the government doesn't have any single mechanism to address the internet of things are the challenges it is presenting. >> guest: one of the concerns i have which is when the paperback vers

at&t/time warner to name just one.get announced by sun valley and the kind of deals that need to get through any type of antitrust and you have jared and ivanka hobnobbing with the guys. god knows what they're saying in closed doors. i think it sends a horrible signal to the commitment, to the domestic priorities they have like health care. sends a horrible signal for what kind of role they'll have in huge deal making that's why you go to sun valley is to strike deals. >> it's extraordinary to me that the white house would okay it. but from those i spoke to in the white house, they're just as surprised. >>> all right. we'll take a break. next, the man who wrote the book breaking down the inner workings of washington. what does he think of the town now? his newest take on d.c. in the trump era. that'll be next. thank you so much. thank you! so we're a go? yes! we got a yes! what does that mean for purchasing? purchase. let's do this. got it. book the flights! hai! si! si! ya! ya! ya! what does that mean for us? we can g

company time warner and at&t. consistent with this reporting the president himself was clear on this topic in october 2016 speech. "candidate john. as an example, this is a mix is an example of the power structure of fighting, at&t is buying time warner and the cnn, deal we will not approve. in my administration because it's too much concentration of power in the hands of too few. speaking of concentration of power, there's another major media merger, the proposede are acquisition of the sinclair company. there's concerns this mergerha would violate ownership rules but the fcc has helped pave the way by reinstated the so-called uhf discount that enables tv companies to get bigger. sinclair now requires other local stations to air video rea pieces by a former trump administration staffer who generally supports the trump administration. they been quite complementary of you personally. the contrasting approach creates a very will perception that thea trump administration would act to reward friendly coverage and puni

let's take a quick check of media stocks as time warner, 21st century fox, the parent company of fox disney all ending higher while comcast closed lower today. joining me now, the owner of the open ed media martyr complex, he's the editor of the hillsboro, ohio time. he is gary. good to see you, gary. >> thanks for having me on. liz: now, as a newspaper editor, why did you write this opinion piece? it sounds like you're tired of the media acting like it itself is synonymous with the first amendment, as you said, when they're supposed to look up to that standard and be journalists and report on all policy choices; right? >> well, i think so. you know, there's no balance we see anymore. and, liz, i hate criticizing the media. i'm part of the media, even though we're a small part. but, you know, there's so many things to cover, and it's, like, they get ahold of a bone and just drag it out forever and ever endlessly and let's put it into perspective. i'm not someone who says russia is fake news. i don't think it's fake news. i think it's a real thing to look into. but there's still not e

was cbs news contributor nicholas thompson the editor in chief of wired he says verizon comcast time warnerle and other providers want the ability to charge a premium to websites in exchange for faster service. in 2015 the obama administration implemented rules that require the service providers to treat all internet traffic the same. the head changes to the rules and you have until mid august to send your comments to the fcc before they have a final vote which brings us back to today. thousands of websites have messages pushing for net neutrality to remain in place. if you log on to read it you will see a slow loading note that reads the internet is a lot less fun when your sites are loading slowly and then the note from airbnb which reads support a free and open internet. if you want to let congress know what you think we have a link on wusa9.com. >>> it is one of the unfortunate realities that come up when we have temperatures this dangerous. children getting hurt critically or even dying after being left in hot cars. things heat up a lot quicker than you might expect and janice park is

add the time warner communication deal that's ed close at the end of this year. we think that's going to be good for the name. for the stock. we like the stock. >> talk about one of your pick frs the last time, cvs down this time. what do i do with it if i bought it? we think you step aside. that's a name we puchlsed last year in september prior to the trump administration. they've made a focus on drug price i s phay benefit management. t r up in the air how that's going to fall out. all we know is the rhetoric is heavy against any kind of drug pricing pushing companies to lower prices, makes us pause a aside. >> very quickly, generally speaking, do you like the market at these levels? we're hitting records on a fairly fre basis. >> i think the big news this week is janet ye saying we've raised rates thee times. and now, a pause. some of the data is soft. housing, home improvement, we're optimistic on earnings going forward with historically very low. e historically, low rates when you think about it on the ten year 2.2, we think we're still opt optic. you earn a

maria: real quick, at&t and time warner, that deal is on the docket, do you think it goes through?ink it goes through. at tend that's what regulators are looking for. maria: kevin joining us there. whether he take a break. when we come back president trump's nominee to lead the fbi testifies before the senate judiciary committee, the pledge that cristmother wray made to lawmakers, that's in the case. new cancer treatment, how the first of its kind therapy works, that's right after the break, back in a moment. he middle of t. hold on dad... liberty did what? yeah, liberty mutual 24-hour roadside assistance helped him to fix his flat so he could get home safely. my dad says our insurance doesn't have that. don't worry - i know what a lug wrench is, dad. is this a lug wrench? maybe? you can leave worry behind when liberty stands with you™. liberty stands with you™. liberty mutual insurance. juswho own them,ople every business is different. but every one of those businesses will need legal help as they age and grow. whether it be help starting your business, vendor contracts or employm

before i got thrown out i just want you to know, i moved stock of time warner saying they were in play way is in play. company has to be big enough to buy it. if you look at market cap of apple or google they have got cash. they could do a deal. neil: could do that out-of-pocket change on their couch. >> absolutely. neil: i notice iger is not there. his top lieutenants are. are we to read anything into that? >> right, you know, it could mean that he is dealing with a banker at home on a deal. or it could mean that he had a conflict and he didn't feel like showing up this year. it is kind of odd he is not here. usually, what is good about this thing, this confab, it is allen company confab, ceos are here. our ceo presumably will be here rupert murdoch. so that is why it is good. the bad part about it, there is so much security. neil: did murdoch avoid you? i heard he doesn't want to be anywhere near you, is that true? >> you know you will have to ask him. usually everybody, that usually avoids me. so you know, why should that be any different? you avoid me sometimes. neil: all the time.

that is true because dollars made by roger castle time warner was out big rewards people like me are not going to work. fifteen to twenty hours a day in order to get rich. in graduate school my doctoral years i was told psychologists five ten years into practicing on average for making one hundred thousand dollars a year and i was like that sounds awful. now it's like kind of like my sense of do you think the top one percent. i'm not in the top one percent in terms of the world it's maybe in just psychology world. i choose this i choose to drive i could take a train wreck into the city i just feel like that's one extra time that i get sick of being in an enclosed area with a strange you know that in the public it's like i don't i can't afford to be sick at this point but every day counts while trying to see if. i never need to leave the building other than to get lunch which i pray to do every once in a while they get to sit alone at a kalar at a diner across the street and that to me reading the new york post is haven't. taken away the. mandate johnson signed. and doesn't even into