can viacom continue on without any kind of a merger?they have definite made some significant tries. they really righted the ship in terms of paramount, which was a complete mess two years ago. i think investors have warmed up to this idea that viacom is definitely making this significant turnaround. at the end of the day, they just do not have enough. when you see a behemoth like disney going out and acquiring fox, i think the writing on the wall is clear. sooner or later, viacom will have to merge with another player, most possibly cbs. possibly even just the cbs viacom merger might not be enough. they might have to combined with other players. i think sooner or later it is inevitable. you say the redstone family is pretty key for this to happen. it looks increasingly inevitable, but the -- viacom can right the ship presumably in terms of that deal could change and start to face the viacom shareholders little bit more. >> absolutely. last year when the talks were ongoing, i think it fell apart because of that whole exchange ratio becau

that lionel you talked about this is the biggest of the big viacom has an interest in the mix somehowexplain that. well viacom is going to be claiming the same thing they're claiming that netflix and by the way it's one thing to recruit it's one thing when you have such a great opportunity that people naturally gravitate you toward you it's another thing when you tortuously interfere when you go to people who are under contract with somebody else and say listen we can do better they're not treating you correctly but what they're doing right now is they're claiming that that the reason why these laws that prevent now and compete are not being violated is that this is just the industry for example if i work for boom bust and i devote myself to you and you paying me handsomely don't you have the right as viacom and others are claiming and fox for you to prevent me from going across the street and divulging information to your compared to. that makes sense doesn't it but what if i couched that as a non compete what i'm doing is i'm saying or no i'm not preventing people from leaving boom

viacom released mixed earnings this morning.he other names reporting today. we'll bring you the latest coming up. the markets are expected to trade higher. s&p is up 5 1/4. the nasdaq is up 20 points. after a great day yesterday for stocks, the indices finishing at the highest close in two months with the dow industrials picking up 175 points. the s&p was up 18, 2/3 of a percent and the nasdaq was up 83 points, better than 1%. in europe this morning, gains across the board there as well. the fq100 up 97 points. the cac in paris is up 1%, 48 points higher and the dax index in germany up 122 points, better than 1%. asian markets most of the markets closed in celebration of the lunar new year. it is the chinese new year and as you see all markets were closed with the exception of japan. it was down a fraction. counttowcountdown to the state e union, the president is expected to call for june a unity in tons address. >> he's calling for cooperation and he's calling for compromise. >> what's the state of the trump administration? the

with then't be merging basketcase that viacom used to be.weakness in the numbers, particularly advertising, nickelodeo n delivering poor results. is a strong viacom, but not without a deal in the future. caroline: not a deal that viacom is claiming to be forcing right now. >> absolutely not. we are on a good track moving forward. growthrn the company to both top and bottom line. ofare expanding the presence our i.t. caroline: they don't need a deal. do you feel the investor base feels they still need this? >> there's been a turnaround in the last year in terms of the positions of the two companies. cbs was the stronger one. now, les moonves is gone, cbs has their own troubles. there's been management turmoil. now, bob bakish has the upper hand. even though he has said publicly we don't need a deal, he's going into any negotiations that may occur with those conditions. scarlet: disney has been paring the market for some tough numbers. -- preparing the market for some tough numbers. what are investors likely to tolerate? what numbers will they

with cord cutting they have to merge with viacom. that's not great for the stock.hat's i believe why they sold. liz: little-known fact, my first job, cbs los angeles. channel 2. >> did you work -- liz: i guess they don't want to look at me. >> did you work with mark kaufmann? liz: not at kcbs. >> he was nbc in los angeles. liz: overnight, delivered newspapers. yes. that's what i did. charlie, thank you very much. we'll be right back. we have the dow jones industrials down 68 points. here's the breaking news. the senate has cleared the first hurdle and is now voting on the border security bill. we'll be right back. with my friends to our annual get-together, especially after being diagnosed last year with advanced non-small cell lung cancer. (avo) another tru story with keytruda. (dr. kloecker) i started katy on keytruda and chemotherapy and she's getting results we rarely saw five years ago. (avo) in a clinical trial, significantly more patients lived longer and saw their tumors shrink than on chemotherapy alone. (dr. kloecker) it's changed my approach to treating

. >>> viacom reported better-than-expect eed earnings. revenue fell short of estimates because of a decline in advertising sales. viacom plans to enter a production deal with netflix through it's nickelodeon kids division. shares rose 3% to $30.33. > a unit of johnson & johnson is reportedly close to settling lawsuits over defective hip implants. long-running litigation includes more than 10,000 cases, but it's not clear how many lawsuits would be covered by the reement. j & j has said that it acted responsibly and ap development, marketing of the devices. on the day the shares were unchanged at $132.88. >>> bp had better-than-expected profits, driven in part boy a big increase in the energy giant's oil andas output. it is the latest in a string of major oil companies to post a rong performance for 2018. shares rose 3.5% today to $42.82. >>> morereure on allergan to accept rate the chairman and ceo positions. appaloosa asked the drug maker's board to separate the two roles. independent share would help all eler allergen lift its share pri

david: viacom came out with their earnings just a few moments ago. they beat on earnings-per-share and expectations -- a little light on the revenue. had anentertainment operating loss of $90 million. filmed entertainment would start making money -- not yet. earnings miss and revenue miss for the fourth quarter -- the company citing a rapidly geopoliticale and conditions. revenue a miss for archer daniels. david: coming up, more on president trump's state of the union address. what investors will be listening for with blair ephron. this is bloomberg. ♪ viviana: this is "bloomberg daybreak." nissan has called an extraordinary shareholder meeting for april 8. in november --ed this morning, ghosn is still in a tokyo jail cell. joining big oil peers by posting earnings that beat estimates. offsetting the the deepwater horizon controversy cost $60 billion in penalties and compensation. altar you may sell bonds in europe to fund a push into canada. is speaking to investors -- in december, the company paid $13 billion for a 35% stake in juul. that's your bl

you might have addressed or jessica georgie's the five doctors that she said five to her book about viacom what you want children that are going to. treasure the children hop for things that are sort of coming about your day things like that or for no way that. that show was like it would have shown to a book i just read a book on the good that we can find out to get going and. i think a thought had never been as well as what i see. that i'm about how much time goes on war crimes and i've got the audio and i'm calling it from what i just started enjoying it don't put upon his hold on what they've already that you're just as if they were transferred in the future with i think that's question john that. was a funny i don't think about i thought that after i come up on the o.t. stuff and it's got to hit home when i think that i'm going. to a lot of foreigners you know was just someone who sold them to the highest bidder. but there was a lot more to her than that. she wasn't like her business partner ginny with his connections and family support. was the fighter she was alone in the city could

and viacom bought pluto tv.ar thes among a range of ad-supported services, including the roku channel, zumo, crackle, and walmart's vudu. we'll see how disney and upcoming options change the landscape. with all of these choices e, availahether it's worth it really depends on what you want. for "nightly business report," i'mulia boorstin >>> and coming up, tax audits. they're time consuming, costly and stressful. but what are the odds that the irs actually audits your returns? >>> samsung has unveiled a new line of galaxy phones, and they fold. the company hopes that thega xy fold will help turn sales and provide the innovative kick that tmartphone industry is looking for. samsung spent five years developing its foldable technology which comes with a price t of nearly $2,000. >>> meanwhile, hershey is addins ame to the list of companies raising their prices. remember yesterday we told you about eryday items that are likely to see a bump in prices this year. today hershey said that it planp to a new pricing structure in place in north america in om19. the cny says it will use extra reve

. >> repter: and one reason viacom just bought pluto tv, an ad-supported digital video service. we'll see if youtube can take steps to keep big brands from ditching its user-generated content. i'm juliaoorstin in los angeles. >>> investors take a slice out of domino's, and that's where wn be tonight's market focus with the pizza chain missing bo earningsnd revenue estimates. its same-store sales in the u.s. al came in shy of expectations. nonetheless, domino's ceo says overall he's happy with the results. >> we're actually quite pleased with the result particularly when you take a look at our business in the u.s. we've continued to have deliver double-digit retail sales growth in the u.s. 31 consecutive quarters of positive same-store sales and 5.6 for the quarter we were very happy with. disappointed in the international co . >>separately, domino's increased its dividend by 18% 65 cents, but it wasn't enough to please investors. shares fell by to $253.01 today. >>> elsewhere,nd apple goldman sachs are partnering on a new credit card tied to the iphone "the wall street journal"

fact that her book about viacom what you want children that are going to. touch our children hop to things that are sort of coming about where they think they did a person oh wait i hope. that's you know what i would have gone to a book i just read a book how do you good that we can find out the going in you. thought how does it ever not last what our society. is about how much of tiger's one hundred somebody got the audio and i'm calling it so often just on the train don't put the phone to tell them what they've already the chances are that they were trying to not you were particular squamish make sure that you. get up on the i don't think about i thought that after i got i'm about on the o.t. stuff getting any challenge. called when i make sure to set up things. to a lot of foreigners you know i'm just someone who sold them to the highest bidder. but there was a lot more to her than that. she wasn't like her business partner jimmy with his connections and family support. yana was the fighter she was alone in the city couldn't speak the local dialect got t

i am thinking of viacom or discovery with their reality shows.are very lucrative to advertisers. them not toest for have a direct to consumer app like disney or netflix, but they can have a free service. i say free because it is add supported. the customer is the product. netflix a world where dominates streaming and these other companies cost a lot of ,oney when they all add up these other companies can come up with a model that works for them. staye: how long will it free? if it works, maybe you don't pay for it directly, but you pay for it through some other strategy. it could belike heading that direction. right now because the market is so jumbled and confusing, everyone is trying different strategies to see what sticks. but don't underestimate the power of free because these free markets are really important to lower income consumers. maybe the advertising model works. the problem is, it doesn't have as big of an audience as traditional cable tv, but i think those are the big questions companies are grappling with right now. vonnie: so, whe

. >> they looking for a ceo or merging with viacom?do this? >> but what executive nairobi died in good exec would take this job knowing full well that in the next six to 18 months there's a not unreasonable chance that they will be out of work. >> and that's why they're having a hard time finding people that -- i've heard they're having challenges, even without a merger, it's a tough call. it's a hard job to fill. the environment will be challenging going forward and you have to have someone with a forward look. >> why is the board of cbs not saying, look, if we know we're going down this path eventually anyway, just do it around call a spade a spade? >> you're hinting at the right thing. the acting ceo, there's a strong chance he gets made full they announce a merger with viacom in the next three, four months and then they have to figure out fine, if that happens who runs the combine company bob bachus who runs viacom he's an upright light in cherry's eyes so that's a good chance the big story is -- the second part is how are their nu

so, for example, old viacom split into cbs and viacom.-growth at the time. or hp, inc. and then it's interesting because it doesn't always go as you predict as the market rewards the companies. >> alcoa and arconic. >> perfect. >> thank you for joining us. >>> meantime, canadian pot growth canopy growth after announcing it would be partnering with martha stewart for animal health problems stewart is not the first celebrity to endorse the pot industry which counts high profile figures of former house speaker jeon boehner to snoop dogg among the backers. joining us now is two guests here to discuss, gentlemen, good afternoon to you both. sean, i'll start with you. martha stewart getting into cannabis are we at peak pot here? >> not even close. this is the normalization of the industry trying to see the companies develop brands it's very hard to build an authentic brand. a shortcut is celebrities. this is very hard to execute. >> sean, even if it's outright growth in the industry to come, what about the stock price there's extraordinary mult

viacom, alphabet, twitter, can the fire that the federal reserve lit under fires, can it continue?ing. thanks for being with us. >> good morning. gerri: let's start with media company. what is thoughts about media companies? >> when you're looking at media companies, i'm focused more on disney and kind of the incoming incoming-upcoming launch o of disney plus. i think disney is a strong company. i don't see disney plus posing extreme threat to amazon and netflix. gerri: i guess we'll get more details when disney comes out on tuesday. gm is coming out on wednesday. this is going to be a fascinating report because the company taking its layoffs to 14,000 folks today. what do you expect in the earnings report? >> yeah, i think gm and google are two of the stocks to watch this week. i think gm's going to be really interesting, obviously, because it tells so much about the consumer, not just at home but abroad. gm's earnings are expected obviously to get smoked in china. but they're actually not going to be as worse as some of their competitors and interestingly enough, sales of cadilla

lion's gate, star, cbs and viacom but don't expect netflix to be part and hbo's participation is also in doubt of course investors paying close attention to the fast er growing higher margin services business. that was not the only headline on apple today we also want to bring you up to speed on another dramatic headline here. the u.s. government has now charged a former apple executive with insider trading he was corporate secretary, director of corporate law. allegedly traded on material, nonpublic information on apple's earnings between 2011 and 2016 according to the government when he realized profits of $227,000 avoided losses of 377. the potential penalty here, 20 years in prison and a $5 million fine apple did not respond to requests for r comments, guys. >> thank you very much we also want to ask you about this big investment from google. what are they planning >> so tyler, that's true google does intend to keep growing the company. it's going to spend $13 billion this year opening new data centers. that's going to be in nevada, ohio, texas and nebraska doubling in virginia it

content acquisition later this year, either a film studio, mgm, sony, a24 or a larger deal like cbs, viacom race in terms of content. this is the first step for apple to make that big bet. cheryl: i want to switch gears to google. they're planning to unveil basically a netflix-like gaming service. they want to go up against the x-box, they want to grab that fortnite crowd, if you will. google and the alphabet is the parent company, we're watching the stock in the premarket. do you think that's a smart bet and could that disrupt video games? >> yeah, i think you're seeing that across the board in terms of disruption. i think google making that bet, like they're doing in cloud, that's going to further expand market opportunity to consumers. you see what's happening gaming, what fortnite's done to the gaming industry. guys at google, microsoft, potentially apple, i think you're going to really double down and potentially go after that video game market. i think it's a smart move for google along with cloud. cheryl: i'm learning all about fortnite. you would be proud of me. didn't know what tha

>> viacom had a good quarter. >> they had a decent quarter stock was up yesterday. >> how about cbs ion't know. >> we'll see we'll see. >> david, i think that -- you said if anybody can do it, it is disney and they can -- i felt that a lot of the resources are going to be devoted toward disney.com. and i told you i think the 5 million -- 2 million people for -- >> plus. >> over five months. how much was that ultimate fight club i don't know how sustainable ultimate fight club is i just don't there is a lot of talk it is not as sustainable as we think but a cohort is just swears by the thing. when you and i go to the next fight club after we do wwe, i got to tell you -- >> we don't talk about ultimate fight club >> first rule. >> yes all right, we are going to talk about snap we didn't get to it in this block. don't worry. we will come back to snap, of course and ask that key question whether it is too early to buy first -- >> no, because the cfo quit. >> we're going to have this exclusive with the ceo of spotify, daniel ek, talking music streaming, earnings, new deals to buy some podc

and i think inevitably it will be combined with viacom and that may be -- will wind up in a differentile the strategy is to navigate in there, not throw a tremendous amount of dollars into things that are not proven. the key thing on cbs is it has proven horses in the race. billions is a terrific show. ray dunavan is a terrific show so i'm not worried that the cash flow will get destroyed because of tremendous cost overruns. the company especially under redstone has been a very, very strategic buyer of its stock the share count has gone down a large amount over a number of years. shareholder value over the long run has been -- they bought a few shares last year if the stock would go down a significant amounting at this level of interest rates, you get somebody like tom skaggs, that will be a lot of fun. >> larry, thanks very much. >>> up next, lloyd blankfein just weighing in on amazon's veo cancel its new york city plans on twitter, of course. we'll share that,next. move to the enterprise-grade cloud that's built to handle all your apps. ♪ ♪ the ibm cloud. the cloud for smarter busin

what they need to do we think studio houses like an mgm, sony, e 24 and cbs, viacom, potentially a netflix player i think that's going to be the first. we also have a gaming acquisition that could be there as a subscription service. >> john, in terms of these possibilities, which have been speculated about for years now, what makes sense to you? >> i think the gaming, actually a lot more interesting than general content. that's because apple needs content for different reasons than other players do. they don't need content to gather an audience because they've got a huge base and a lot of that thanks to content, itunes being in the game early they need to get people to pay a monthly subscription for something and right now, they're very strong in mobile gaming, in-app purchase, that sort of thing. they did acquisition of an ai, somebody who was good at massively multi-play games that focused on arena style, maybe leverage outside of their eco-system to create a premium business like amazon is trying to do at twitch. >> dan, we read about the recent, i don't want to call it reshuffling up t

they didn't talk about it the viacom deal, didn't talk about the ceo. >> no, they didn't. >> they didabout, well, you know, is it a 2019 event when you start to have to negotiate with the nfl what about amazon? what about others that might compete for the rights to air nfl games? and macmanus said i think it is probably further into 2020 or beyond the nfl probably wants to get their collective bargaining agreement done first before they talk about television deals. and he can't speak for the strategy of the digital companies. all he can say is we brought the nfl back to cbs in '98, remember that, and we have been successful three times in a row in renewing our rights and expect to do so again. it is going to cost them, guys i think when that seems to be the key focus. also suspended their buyback for now. >> down $1.30. >> not sure. >> rumors? >> maybe maybe. no outreach that i'm aware of between viacom and cbs a lot of new directors >> strauss. >> i think he spends a good amount of time on it. >> i think the fact that the stock is up is amazing. >> surprising. was looking down free m

probably going to have to merge or find an acquisition, a buyer or maybe be forced to merge with viacom't know. that's all up in the air. the second thing i hear that's very high on the plate aside from corporate acquisitions is pouring money into showtime. first, showtime is a network cbs owns, cable network. it does very good original programming, full disclosure, my wife used to work there. she is not the source of the story, just so you know. i have it from much higher up in the organization. what they did over the last eight years, basically cbs provided about 30% -- showtime provided about 30% of cbs' catch flow. i hear from this people internally. they bled the place dry. as they were bleeding the place dry, they still had great programming. you can name them all. liz: well, the ben stiller thing on the prison break -- >> that was amazing. they have had other stuff. you know. they have had plenty of great programming on showtime. ray donnovan, i could keep going on and on. although they stole my -- those guys took some of my -- took liberties with my reporting on steve cohen whic

to beery was rumored bought by viacom.one, a traditional media guy, kind of boring and old, why does it look interesting when tech is not having the greatest earnings, and people are not as excited? , we areotomy of markets going from a great to a black and white in terms of what is going on. nejra: you definitely are staying away from what you called glam tech. no question about it. google's revenue is down, and they dominate search. they have 95% of profits of all search in the world. at the same time they cannot control pricing what they charge customers. that seems odd. in comparison, we have discover on behalf of our clients. nejra: you also own it as a family. directly and indirectly through our mutual fund. that was supposed to be disrupted by distribution from netflix, that was going to ruin content. and we find out home and garden is being sent across the united states and pushed across the world with the european relationships. nejra: we got numbers from disney yesterday. there is no other disney. it is very simp

i'm sure they're working hard on it the other is are they going to merge with viacom or potentially somebody else. i think that is a put underneath the stock. so i'm a little disappointed on these earnings it's ticked up a little bit looking at this gambling that's sort of interesting so i'd probably buy more if it trades badly tomorrow. i still think it's not about this quarter, it's about other issues. >> here's a question what if they name a new ceo. does the stock sell off on the notion that naming a new ceo means that it's not likely in play still >> so a new ceo is negative because they're no longer in play. >> why would you take a job if you know the company is going to be sold? >> because you may run the combined entity, right it's unclear. >> potentially depends on who they bring in. >> i don't know. >> the stock was at 41.50, $42 stock traded up to 50 almost in a straight line. you can understand why they're selling the stock off on the back of this quarter eps miss, revenue miss in terms of valuation, eight times forward earnings with probably 10.5%, 11% eps growth is it that dama

revenue up slightly at viacom.dy central, nickelodeon and a whole lot more. that slight rise in revenue is for 4% gain. >>> higher out put and higher profits give british petroleum a boost. that stock is up 3%. >>> two congressman from florida, one democrat, one republican, planning to revive a carbon tax bill. one of the congressman joins us now, francis rooney, the republican on this team. he is from florida. sir, what is republican doing raising taxes? >> well, first of all, i don't think we need to be burning coal when we have abundant natural gas which is five times as clean. carbon tax is way to basically price coal out, incentivize the use of cleaner fuels. stuart: that's it? a carbon tax, just so we convert from coal to natural gas? that's it? >> well, i would say make two more points, stu. first of all, the last time the democrats got majority they went for a regulatory bureaucracy of cap-and-trade. i think market-oriented carbon tax is better way to address the interest in dealing with the human aspects o

earnings just out from viacom.t of $1.12 a share advertising sales declined that explains why the stock is off by 1.5% right now. >>> and coming up, we are teeing up some big news nbc and the golf channel teaming up with rory mcilroy more when "squawk box" returns lies beyond the tech sector. it's about technology transforming every sector. ♪ at pgim, our bottom-up approach uses a technology lens to identify long-term winners. from energy... to real estate... to retail. finding such opportunities for alpha is the true value of active investing. and around the world, you have a partner in that pursuit. pgim: the global investment management businesses of prudential. ♪ >>> two of the biggest names in the world of sports are getting together to help drive the next evolution for golf for the digital age. dom chu joins us right now with the news and a special guest good morning >> good morning, becky this is very exciting. what we have is nbc sports and golf superstar rory mcilroy announcing the launch of golf pass this

does seem to be most likely first quarter phenomenon which will be cbs and viacom returning to negotiatingo try to see if they can get something done but nothing yet. >> how do you feel about the nonnfl tv numbers these days >> they're not good. >> that's the problem. that's the problem >> you have seen children's television, linear viewing over the past five years. just straight down >> video games are down a little what are people doing with their time now are they thinking? >> no. >> i wanted to to be sure they're not thinking they're on instagram my wife -- i hate mark zuckerberg did you see this have you looked at this? >> she is really good at instagram. >> my daughter, emma, reinvented herself entirely >> i don't have an insta, i don't have a finsta. >> how do you live >> i don't know. >> we'll get him on his way to burlington when you do your retail. >> so strong, david. good t-shirt for $3. >> good week for the oil producers. exxon beats on revenue, beats on profit, beats on production. darren woods talking to becky about how he anticipating a slowdown in global growth. >> that's

when it comes to capital allocations but it can enhance the bottom line and obscure i did think of viacomr example, what is significant deterioration, and also help help some potential ceos, their comp is tied to earnings share. >> absolutely. i go through all of the major conference calls and there isn't anyone who says, you know what, we're going to not buy back stock because we have so many opportunities. it is the opposite we have only a limited number of opportunities to grow. and what we don't have we will buy back stock limited opportunities y s ties . what i thought would be more corrective is a little more homework by schumer and sanders and adopt the one, one, one, the pledge that benioff has where your employees give money to community, the exacts give money to community, they give time to the community. if you adopted the one, one, one pledge you would do what they said i think a lot of people should do it. if you ever get a chance, you should google the -- it is basically the mission statement of companies they all have mission statements usually short. and marc benioff says

i don't think you'll get any comment on viacom or the ceo search i doubt it not for the ceo to talk aboute covering it anyway. >> and nvidia. that's big >> yes >>> first on interview with richard branson, coming up on "squawk alley. don't go away. nway, which met a burst pipe. so grant met his insurance: you are caller number 12. which didn't quite cover the steinway. but what if he'd met pure insurance? owned by members. he'd have met: lisa, your member advocate. who'd introduce him to gustav: leave it to me. a temporary address, temporary ivory, and help him get tickets to the mozart festival. excuse me, grant likes beethoven! uh, the beethoven festival. pure. love your insurance. the first-of-its-kind lexus ux and ux f sport, with the latest safety system standard, best-in-class turn radius and best-in-class mpg. experience amazing at your lexus dealer. onmillionth order.r. ♪ there goes our first big order. ♪ 44, 45, 46... how many of these did they order? ooh, that's hot. ♪ you know, we could sell these. nah. ♪ we don't bake. ♪ opportunity. what we deliver by delivering. >>> good thur

year where discovery is, hey, maybe someone might buy us i don't think it was a discussion with cbs viacomaz is thinking he could go one way or the other in terms of what the properties look like. i think there's definite interest i don't think it's quite as far along. >> we'll have a lot more with ed lee later in the program lot of media stuff. >>> coming up, the big business behind last night's super bowl commercials. we'll talk about the best and the worst and one super bowl ad you didn't see last night. that's next. >>> as we head to break, here is a look at the biggest premarket winners and losers in the dow. ♪ >>> welcome back, everybody. we are in the chairs this morning talking about what happened last night in the super bowl if you missed it, well, the patriots topped the l.a. rams to win the super bowl, liii super bowl liii, final score only 13-3, that's the lowest-scoring super bowl in history. it was the sixth super bowl win for tom brady and bill belich k belichick. it was exactly 17 years to the day since they won their first against the same team, it was the rams by the way,

have the heft or the -- >> i think if you look at the specialty, more niche networks, you look at viacomvery. you probably look at cbs in the traditional linear world either they're going to provide enough value or differentiation that people continue to have a single direct customer relationship or they will combine >> with each other or others you think they get bought? >> i would think so. and they probably would like to be on traditional linear and want to be included in these skinnier hybrid bundles that a lot of the larger distributors would create >> who's coming to you now for money? i mean, what's interesting that you see? what's the coolest thing you've seen in the last six months, would you say, that redpoint might get involved with? >> you know, i think the market had flipped from consumer to enterprise because you went through all these ideas and things hadn't begun to explode what you're seeing a an aggregation on power so consumer is a little bit harder to do that's why i think you see more and more venture capitalists investing in enterprise type things and the themes the