amazon is giving the cold shoulder to viacom. mark: good afternoon from bloomberg world headquarters in new york. scarlet: let's get you straight to the financial markets. as julie hyman was telling us, s&p 500 currently at 2118 but just shy of its intraday high. have been a resistance level, so we can see if we can get past 2120. the dollar weakening to a four-month low. if you look at treasuries, we are seeing a comeback. inflection point, it is this a policy in the selloff, or how we turn the corner? mark: a tough week for bonds with lisa abramowicz telling us about that $400 million route. scarlet: blame europe. mark: now a look at the top stories this hour. the death toll in the amtrak crash is now eight with the discovery of another body inside of a mangled railcar today. meantime, the amtrak ceo expects to have some service restored by monday. officials believe they have now accounted for all 243 passengers and crew members believed to have been on board. investigators want to talk to the engineer at the throttle. they say

david: viacom is a good analogy. think they are and la-based company within la-based media mindset. what's that you're doing is creating bite sized media for a bite sized media age. i think the videos they do have in a large number are not the same as facebook and youtube and should not be compared. they are so much more minor, but so vast number. people are using this no question as a entertainment and communications medium. it is quickly changing some quickly before eyes -- is changing so quickly before eyes, baby boomers are having a hard time keeping up with it. emily: i am a bit younger than you, but i walked into an ice cream shop the other day, and literally everyone was snapped chatting there are ice cream cellular. they the ad rates are actually dropping. at one point, they were charging $100 per 1000 views. what is going on? >> the landscape is changing very rapidly. they tried something, they tried an elevated price point. it appears that it didn't take. that is not to say they can't try different prices a

viacom has a different view of that very document. they don't have such a document.ument but don't anymore. i agree with david very completely. let's remember, both cbs and by, have -- are public companies with public boards of directors, serious people on both of these boards, they have serious responsibility to the shareholders. they are not going to do anything precipitous, summit should he ever passed his death will not trigger anything that they don't want to have happen to themselves. david: the board has a duty to shareholders and the trust has no such duty. the trustee the is to sumner's grandkids. the trust has the responsibility to the beneficiaries of the trust, so i don't know that there is a conflict of interest. erik: not necessarily of interest. maybe a conflict of timing. david: at the end of the day, in a sense, they have different responsibilities, trust responsibility to maximize the value of the trust and the board of each company is responsible for maximizing the value of the company. they are subject to different you know, delaware law versus tr

at worst -- at best snapchat is a next-generation viacom. what you make of that?hey are either everything or nothing. guest: i made an analogy with disney. they are in la-based company with an la-based media mindset but they are creating bite sized media for a bite sized media age and something very different. i think the videos that they do have in large number are not the same as facebook and youtube should not be really compared, because they are so much more minor, and yet they are vast in number. it is something changing so quickly. baby boomers have trouble understanding it. emily: i'm a little bit younger than you, but i also have trouble answer -- understanding it. i use netjets but i do not use it to comedic it with my friends. i went to an ice cream shop the other day. literally every kid in line was using snapchat. they were just talking about whether they wanted chocolate chip or not. the values for ads are dropping. what is going on there? guest: that's the whole thing there, emily. the landscape is changing rapidly. they tried something. they tried a

you might remember that youtube was sued by viacom. eventually, they did not have to pay anything.came up with a system called content id which identifies copywritten content and notifies the owners and lets them make decisions. that will be harder for something that is live because they can check it against the database with the id and contact someone. cory: to it down half of the things that were complaints. they check on monday morning there is nobody streaming the fight because it was saturday night. you wonder if this raises cost operations for twitter. that changes the business model a little for twitter, no? joshua: i think there is a question of how to do it. they have fielded incoming complaints in a did not seem like that was satisfying to all parties. they have to come up with some sort of automated solution and it is not clear how that will be. cory: i love dick costolo and that he says what is on his mind, but the comment from him -- yippee for piracy. the pirates on periscope won the fight. would that comment get him into trouble? joshua: if he could have that one bac

netflix used also have reality tv shows that were from viacom and mtv and from vh1.t those laps. se. they want to do more scripted original programming which does not mean that reality tv is going away completely. there are at least two new reality tv programs that have been picked up by major networks. there will be one called " you, the jury" where you get to vote as a member of a jury in a civil case. olivia: scarlett that's frighte. pimm: another one is called "the briefcase" where your given $100,000 and it remains to see if you keep the money or give it to someone who is in financial trouble. the reality business is changing but it has not been a success lately particularly for certain cable networks that have relied on this. you've got e network and bravo. i know you are a big fan of the shows. olivia: i have not watched any of them. how do these concepts get formed? pimm: "keeping up with the royals"an's" and "the represents the new. versus authentic reality scripted shows. how do they conceive of these formats? the issue for the networks as they have done so

finally the ss joseph viacom might come in the first to 21 go ships from europe and the pacific sailed with more than 5000 soldiers in her hold it on october 27, 1947 the connolly birth in new york and stevedores whinge the caskets are a hold of specially designed slayings to buy two mps dead and those of father he can make great diaspora across the republic for burial in their hometown cemeteries and national cemeteries. that's how the dead came home. but what about their belongings? what about things they carried? even before the debt came home these things had been coming home at a large warehouse in hardesty avenue and can see. the u.s. army affects bureau had begun as a modest quartermaster and a price is only a half-dozen employees in february 1942. that expanded to more than a dozen workers. by august 1945, bearing handling 6000 shipments a month, each leg with the effects of american dead from six continents. hour after hour, day after day, shipping containers were unloaded from the rail freight cars that pulled up to the siting next to that warehouse in hardesty avenue. they w

finally, the ss joseph viacom -- v. connely sailed with more than 5000 soldiers in her hold . on october 27, 1947, the connolly birth in new york and stevedores whinge the caskets . these -- that's how the dead came home. but what about their belongings? what about things they carried? even before the dead came home, these things had been coming home at a large warehouse in hardesty avenue in kansas city. the u.s. army affects bureau had begun as a modest quartermaster enterprise with only a half-dozen employees in february 1942. that expanded to more than a dozen workers. by august 1945, bearing handling 6000 shipments a month, each leg -- each laden with the effects of american dead from six continents. hour after hour, day after day shipping containers were unloaded from the rail freight cars that pulled up to the siding next to that warehouse in hardesty avenue. they were pulled onto the receiving dock and hoisted by elevators. here, they went through the crates to extract pornography ammunition, perhaps amorous , letters from a girlfriend you did want a grieving widow to

joshua: yes, you may remember that youtube was sued early by viacom, and eventually, they did not haveanything. they came up with a something called content id, which actually identifies copyright protected content and notifies owners and allows them to make a decision about it. with content id, they can check it against the database and contact someone. cory: if they check on monday morning, yes, we do not see anybody streaming. joshua: yes, they almost have to do it immediately. cory: and that changes the business model a little bit for twitter. joshua: yes it really is not going to be free to do this, and there is a question of how to do it. fielding incoming complaints. they may have to come up with some sort of automated solution for this, and it is not exactly clear. cory: dick costolo and i love how he says often what is on his mind, that his comment is yippie for periscope, where they won the fight, is that going to get them in trouble? joshua: if he could have that one back, i am sure he would want to have it back. cory: i guess i wonder, the best use case about twitter and ho

probably on the cusp of buying viacom. it's a deal that would rank the third largest of technology.ers, a lot of you watching the show, are in the stock. as a result, you can see that sky works had a huge day as well. (?) a couple of names we've been pounding the name on this show. if you're in them, really fantastic. if it's big enough, it can double. listen, we know smartphones are the central element driving these deals. we have storage. storing all this data we use every day. powering these devices. smart cars. cyber security. it will all be one giant connected world. endless streams of information. organized and protected. some of you feel like you've heard the story before. now we do use it. i'm a technology neophyte, and i use these things. this stuff is real. in my mind, that means there will be more deals. more blockbuster deals. the question for the panel. am i too optimistic? oliver, you've been the voice of reason for the first 30 minutes. well, lori too. >> that's better. >> again, no, i think you bring up a great point. these are unlike the tech bubble we saw in '99 an

some of the facts we got in the past two years are shares are outperforming time warner, cbs, and viacom 500. this -- when does this and? end?en does this alix: they had nine or 10 marvel movies coming out and they are lined up and they have not had one that is a total flop yet. they are spending a lot of money in order to make money and finally someone is doing "iron man" right. interview exclusive with howard stringer when he was president of cbs. he brought david letterman to the network and today is david letterman's last show. mark: tomorrow is the last show. alix: tomorrow, ok, tomorrow. mark: he joined us from london. one of the things i asked him about how a change the late-night landscape and i also asked him at some point during negotiations to try and get lindemann to come from nbc to cbs, was he concerned that those negotiations would fall through? here's what he had to say. worried about rupert murdoch because rupert, as we subsequently found out, is very convincing. i lost many battles later with rupert and did not win many. this was one that i knew he would be a formal adv

amazon is giving the cold shoulder to viacom.n from bloomberg world headquarters in new york. scarlet: let's get you straight to the financial markets. as julie hyman was telling us, s&p 500 currently at 2118 but just shy of its intraday high.

redstone issued a statement saying a decision will be made by viacom and cbs sports. tomorrow we'll hear on "squawk on the street". >> so core cutting. >> which is why you continue to go back to disney. it didn't trade great. quarter is great. i don't think it's that expensive and i do think, you stay long, dis as long as bob has his hand in that cookie jar. >> disney looks great. cbs, i was shocked. they had 15 of the 20 scripted, 15 of the 20 scripted shows that are still on air right now. this is a cash cow going forward. they will really reap the benefits and see aa and super bowl and thursday night football. a lot coming down the pike. >> tomorrow morning brings the all-important jobs report. analysts are expecting a gain of to 30,000 new jobs. to 30. but a chief economist says it's going to be more like 315,000. welcome to "fast money". how do you get to your number? >> there are three factors that feed into our positive outlook. one if you look at the jobless claims data which is the best economic indicator, they are sitting here at cyclical lows. and continuin

viacom's phillipe diamond. making him the third highest on the list. media execs swept top five spots with bob iger of disney and marissa mayer of yahoo! rounding out last two positions. >> nothing wrong with doing well, right? goldman sachs strategist saying that you should expect no returns from the market? should we listen to goldman or has its reputation taken a few hits this year? >> cofounder of sun microsystems, one of the pioneers of high-tech getting into the social media world. could an old tech icon compete in the new tech world? we'll ask him straight ahead. part adventure. it's part geek and part chic. it's part relaxation and part exhilaration. it's part sports car and part suv. and the best part? the 2015 gla. it's 100% mercedes-benz. david: time for a look at today's market drivers. stocks sinking following a mixed bag of economic data. it was the biggest drop for the dow since april 30th. the biggest decline for the s&p and nasdaq since may fifth. all 10 s&p sectors lowered. >>> sales of new homes rebounded in april signs that the hous

viacom said the ownership of those two media companies will pass on to a seven-member trust after heo decisions made on who will succeed him as chairman of the companies, but his ownership will pass on to a trust. we will be breaking cvs earnings after the close. i also want to talk about yelp prn know you have been talking about it as well. the review website is soaring. the wall street journal reported yelp is exploring a sale. since then potential buyers may include apple, google, and yahoo!. the company may be worth $66 per shell -- per sale. it continued to advance and progress and move higher throughout the trading afternoon. if you look at it over a one-month time, this has been a volatile name here. you can see there is a big drop back on the 29th of april, when yelp reported disappointing results and it fell to a two-year low on falling advertisement sales area if you look at it over a longer time, so for this year you can see it has been all over the place and has somewhat made up for lost ground. but again, over five years, look at it. it had its heyday back in early 2014

brendan: very likely in addition to that, spotify has been in talks with fox viacom vice.to produce music videos but short videos that will go on spotify. sort of listening to something on your phone and watching a program are different behaviors, so i went to understand better. erik: it's a new business for spotify. brendan: here's what's going on streaming. stephanie: who? brendan: right iraq. --spotify has video -- google bought songza and you have been moving into audio and streaming at the same time. there has an pressure from the labels to keep the monthly subscription price for streaming music at $10 and that seems to be a hurdle for a lot of people. stephanie: does this mean that spotify could be a takeout target for google? if google has a place to put youtube, if spotify is going to get into short-term video space, who is the best added? youtube, why would this not be a move for google? brendan: five years ago when i wrote about spotify i talk to kids and how they watch music and even when spotify was available, they went to youtube. right now, spotify is fired a

viacom expired on common enjoyed before people throw the food away. 90% of consumers say i throw foodaway at the sometimes because i'm afraid of safety. this is impacting the way consumers use the food. this really gets to where policy comes into this. the federal government does not regulate. states do but not based on science. states that require dates, they don't require labels be something specific. they don't require any method behind the days. they just say we want also to bear these days and what you wind up with is a very confused consumer. natchez primary consumer of the food recovery organization who don't know what they can do in the two are restricted from giving it away or don't give it away and make sure they keep people safe. what we are pushing as a consumer facing label that would make sense, be standardized and how people understand this so we can avoid. the focus groups that conducted at johns hopkins we found the term freshest before made the most sense to people. when you think about it used by sound like what will happen if i don't use it by that date. some of th

. >> executive chairman of both cbs and viacom weighing in on succession plan is "i have always saidieve strong and professional management and appropriate cough pratt governance. decisions about who will succeed me as chairman will be made by the companies, not any individual. despite reports to the contrary such decisions have not been made. after my death my ownership trps in the companies will be overseen by a group of seven trustees who will make fiduciary decisions based on the beneficiaries of the trust. until that time i will continue to make all such decisions. sumner redstone is issuing this statement on the heels of some press reports that his daughter sherry redstone would be the person who is the heir apparent to his role at cbs in particular. but he is basically saying here that no decisions have yet been made and of course cbs earnings are after the bell today. so we'll see if there is any more conversation about this or if statements from sumner redstone shuts down any questions from analysts about what to expect next. >> very good julia. we'll see you later when thos

. >> you say you're worried about, not verizon, but viacom. >> i think the guys that have the biggestun. if you have your content distributed over a large number of networks where your fees aren't concentrated. >> you don't have enough power. >> we probably would have sat here two years ago and emerging distribution landscapes. you have to walk in there and negotiate and say i have 20 channels and if you don't play ball with me you're in trouble. i think the irony is the more compact you are and the more passionate the audience is around that compact bundle you're better positioned for this lighter bundle world that appears to be coming your way. >> if i were a media conglomerate, i would be i would be hiring a lot of people for digital, but i just don't think i'd be betting the entire. i think the demise is greatly exaggerated. >> absolutely. >> the demise is massively greatly exaggerated. but i think if you ran a conglomerate conglomerate. i need a position. kind of like what tim was saying. you need to position yourself for a world five to ten years from now and you need a certain

. >> weaver working with some of the best content providers in the world, whether from abc, nbc, viacomith a variety of content providers, really understanding our audience and the types of things they want to engage in. the traditional way of thinking about music is you like country or r & b. we found people are curating music around their mood. we have more than 200 billion playlists on spotify. we found as a result of that that sleep on spotify is a larger category than r & b. one thing as a side project, the addition of spotify running. we found that one of the top things that people do with music is they run to it. we basically rebuilt an experience that was made just for runners. and what users will see is a new tab cauldroninglled running. it allows you to pick that genre, start running. spotify will detect your beat and give you the pace that you want to run for as long as you want to run. >> welcome back. i'm fredricka whitfield. we continue to follow developments out of cleveland today where protesters are now taking to the streets following a not guilty verdict for cleveland